Common use of Banking System Clause in Contracts

Banking System. An employee accumulates vacation credits as follows: Start to completion of two (2) years’ service - 3.0769 hours vacation per bi-weekly pay period of active employment. Completion of two (2) years service to the completion of six (6) years service – 4.6154 hours vacation per bi-weekly pay period of active employment. Completion of six (6) years service to the completion of fifteen years’ service – 6.1538 hours vacation per bi-weekly pay period of active employment. Completion of fifteen (15) years’ service to the completion of twenty-five (25) years service – 7.6923 hours vacation per bi- weekly pay period of active employment. Completion of twenty-five (25) years’ service – 9.2308 hours vacation per bi-weekly pay period of active employment. For employees scheduled to work extended tours, one (1) day equals eight (8) hours. If vacation is granted on a normally scheduled 12 hour day, twelve (12) hours (or one and one-half days) of vacation credits will be utilized for payment purposes.