Banked Overtime. In the event the day in lieu of working the statutory holiday is not provided as stipulated in 8.01.04, this portion may also be banked.
Banked Overtime. Where it is mutually agreed that overtime may be banked, employees shall state in writing whether overtime is to be banked at the beginning of each fiscal quarter. An employee may bank overtime equivalent to one hundred and twenty (120) hours straight time maximum. All overtime worked thereafter shall be paid at the appropriate rate to said employee. Banked overtime may be cancelled by either party upon ninety (90) days written notice. Banked overtime is definitely not to be taken in May to September holiday period unless acceptable to the Company. Banked time will be used to minimize lay-offs. Selection of employees to use banked time off shall first be on a voluntary basis, and secondly according to seniority. Banked overtime pay may be withdrawn by an employee in whole or in part upon five (5) working days notice. In the event an employee also wishes time off, such time will be by mutual agreement and subject to the operating needs and service requirements of the business. Banked overtime may not be withdrawn during a month in which a disciplinary suspension occurs unless the banked time off had been arranged prior to the disciplinary suspension being levied. Scheduled vacations shall take precedence over the use of banked time off. All hourly contributions as set out herein shall be forwarded at the time when the hours are worked.
Banked Overtime. Employees may request to have overtime banked by the Company. Time off in lieu of payment to be taken at a time mutually agreed to by the Company and the employee. In the event that banked overtime is not used prior to December 31 of any year, payment will be made of the balance at the applicable rate of earnings in force at the time the overtime was worked.
Banked Overtime. In lieu of pay for overtime an employee may elect to put the hours at the appropriate overtime multiple into banked time. Banked time may be taken later as time off at a time satisfactory to the District; or paid out on request. Banked time shall not exceed one hundred and sixty (160) hours at any one time. Employees may request a maximum of one (1) separate cheque per year.
Banked Overtime. (a) All regular employees may bank overtime hours at overtime rates to a maximum of forty (40) hours of straight time per calendar year (e.g. 26.67 hours of overtime equals 40 hours of straight time), instead of receiving cash payment, for the purpose of taking paid banked time off.
Banked Overtime. The Board and the Union agree that employees shall be permitted to accumulate overtime to a maximum of four (4) weeks in lieu of cash payment, such leave to be equal to the appropriate cash payment. Employees must advise the Board whether they wish to bank overtime in accordance with this clause, otherwise overtime will automatically be paid. Such notice in writing shall accompany the employee's timesheet. Such leave shall be taken at a time selected by the employee and the employer. Banked overtime shall be based upon that employee's regular work week (i.e. a four (4) hour per day employee can bank 80 hours).
Banked Overtime. The parties hereby agree that, notwithstanding the provisions of this Article, employees shall be permitted to accumulate overtime credits in lieu of cash payment, such leave to be equal to the appropriate overtime cash rate. Overtime credits not used within a school year shall be carried forward for a maximum of one (1) school year. Such leave shall be taken at times mutually agreed between the Employer and the employee and shall not interfere with the efficient operation of the school district. This clause shall be administered in accordance with policies determined locally between the school districts and the Local.