Common use of Banked Overtime Clause in Contracts

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. (ai) All regular employees may Employees will have the option to bank overtime hours at overtime rates worked to a maximum of forty eighty (4080) hours per year (June 1 to May 31). Each hour of overtime equals two (2) 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 offbanked.

Banked Overtime. (a) All regular employees An employee may bank overtime hours at overtime rates equivalent to a maximum of forty one hundred (40100) hours of straight time per calendar year (e.g. 26.67 hours of maximum. All overtime equals 40 hours of straight time), instead of receiving cash payment, for worked thereafter shall be paid at the purpose of taking paid banked time offappropriate rate to said employee.

Banked Overtime. (a) All regular employees An employee may bank up to twenty (20) hours of overtime hours at overtime rates double time, equivalent to a maximum of forty (40) hours of straight regular rate. Minimum to be used as time per calendar year (e.g. 26.67 off is seven and one-half [7 ½] hours of regular rate. Banked overtime equals 40 hours of straight time), instead of receiving cash payment, for can be taken at any time that is acceptable to the purpose of taking paid banked time offcompany.