Compensating Time-Off (CTO Sample Clauses

Compensating Time-Off (CTO. An employee may receive, in lieu of overtime compensation, compensating time off (CTO) at a rate of not less than 1.5 hours for each hour of employment for which overtime compensation is required by law up to a maximum of 40 hours. CTO will accrue at the same rate at which the overtime was earned and the employee’s accumulated CTO balance shall not exceed 40 hours at any time. The payroll clerk will be responsible for keeping a record of each employee’s CTO activity.
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Compensating Time-Off (CTO i. An Employee may elect to accumulate overtime (for the purpose of taking in lieu at a later date) to a maximum at any given time of 40 hours. ii. CTO is to be taken only with the prior approval of, and at the sole discretion of the Supervisor, or in the event of his absence, a designate, and must be used or compensated for in money at the rate so earned at 1½ times (i.e. 8 hours worked 12 hours time off) by the end of each fiscal year (currently May 1 to April 30). (a) Overtime shall be distributed as evenly as possible among the Employees normally performing the work to be done, having due regard to the skill and ability required. (b) Overtime will be on a voluntary basis provided that sufficient, qualified Employees can be obtained to meet University requirements. Should sufficient Employees not be available to meet requirements then Employees will be assigned to work. 14.03 An Employee being asked to work overtime for 2 hours or more on short notice on the same day, will be reimbursed in accordance with the University Policy (Policy on Reimbursement to Individuals for University Business) for the cost of 1 meal up to a maximum of $15. 14.04 An Employee called back to work between regular shifts shall be paid for a minimum of 4 hours at overtime rate.
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Compensating Time-Off (CTO. An eligible employee shall receive overtime compensation for all overtime worked beyond 120 hours as cash payment. No employee who is eligible to earn overtime may accrue compensatory time off (CTO) beyond the 120 hour cap. Once the 120 hour CTO cap has been reached, any overtime earned thereafter must be paid as cash and may not be received as CTO. There shall be no exceptions to this cap.
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Compensating Time-Off (CTO i. An Employee may elect to accumulate overtime (for the purpose of taking CTO in lieu at a later date) to a maximum of 40 hours annually (May 1 – April 30). ii. CTO shall be scheduled at a mutually agreeable time, normally not later than April 30 for work performed during the previous calendar year. CTO must be used at the rate so earned (e.g. at 1½ time overtime rate for 8 hours worked would result in 12 hours CTO). iii. Accumulated CTO not taken off by April 30 will be paid out to the Employee on the 2nd regular pay date following April 30. (a) Overtime shall be distributed as evenly as far as possible among the Employees normally performing the work to be done, having due regard to the skill and ability required. (b) Overtime will be on a voluntary basis provided that sufficient, qualified Employees can be obtained to meet the University requirements. Should sufficient Employees not be available to meet requirements then Employees will be assigned to work.
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Compensating Time-Off (CTO. 8.5.1 All overtime taken as Compensatory Time Off shall be credited and taken at the above applicable rates. 8.5.2 Members will only be able to accumulate up to eighty (80) hours of overtime to be used as CTO during the school year. Eighty hours of overtime equals one hundred twenty (120) hours of CTO (80 hours at time and a half). These hours will have to be used in the same school year earned. If there are any hours left over at the end of the school year, members will be paid for these hours. Members must fill out a green time card and have their immediate supervisor sign it and send it to Payroll. 8.5.3 Unused accrual of CTO will be paid off at employee’s termination.
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Related to Compensating Time-Off (CTO

  • Compensating Time Off ‌ At the time an employee is required or requested to work overtime, the employee may opt for compensating time off at the applicable overtime rate in lieu of overtime pay. If an employee opts for compensating time off in lieu of overtime pay, the time shall be taken at a time mutually agreed to by the employee and the Employer and shall be taken within 24 calendar weeks of the occurrence of the overtime. The Employer will make a reasonable effort to allow time off when requested by the employee. If such time off is not taken by the end of the 24 week period, overtime at the applicable overtime rate shall be paid on the employee's next regular paycheque.

  • Sick Leave Payout No cash payment for unused sick leave will be paid to any employee leaving the service of the Employer.

  • Unused Sick Leave The accrual of unused sick leave hours is unlimited. The City and the Union commit to the evaluation and establishment of a mutually beneficial non-use of sick leave incentive and pay-out policy. Until such time that a policy is established, accumulated sick leave shall be compensated as follows: Upon retirement from the City service, an employee shall be paid sixty percent (60%) of his accumulated sick leave, with the rate of payment based upon his regular pay at the time he retires. Upon the death of an employee, his beneficiary shall be paid sixty percent (60%) of his accumulated unused sick leave, with the payment based upon his regular pay at the date of his death.

  • Sick Leave Pay A Nurse granted sick leave shall be paid for the period of such leave at her or his regular hourly rate of pay and the number of hours thus paid shall be deducted from the accumulated sick leave credits of the Nurse.

  • Compensating Interest The Servicer shall remit to the Trustee on each Remittance Date an amount from its own funds equal to the Compensating Interest payable by the Servicer for the related Distribution Date.