Common use of Lieu Time Clause in Contracts

Lieu Time. E.1 Where an employee has worked an accumulated approved hours for which he/she is entitled to be paid premium pay (other than hours related to working on paid holidays) such employee shall have the option of electing payment at the applicable premium rate or time off equivalent to the applicable premium rate (i.e. where the applicable rate is time and one half, then time off shall be at time and one half). Such time off shall not accumulate in excess of seventy-five (75) hours in a fiscal year and must be taken at a mutually agreed time within 60 calendar days of accrual or be paid out at the rate of which the time was earned within the current fiscal year. Such time off to be scheduled at a mutually agreeable time and is inclusive of weekends.

Lieu Time. E.1 Where an employee has worked an accumulated approved hours for which he/she is they are entitled to be paid premium pay (other than hours related to working on paid holidays) such employee shall have the option of electing payment at the applicable premium rate or time off equivalent to the applicable premium rate (i.e. where the applicable rate is time and one half, then time off shall be at time and one half). Such time off shall not accumulate in excess of seventy-five (75) hours in a fiscal year and must be taken at a mutually agreed time within 60 calendar days of accrual or be paid out at the rate of which the time was earned within the current fiscal year. Such time off to be scheduled at a mutually agreeable time and is inclusive of weekends.