Common use of Time Banking Clause in Contracts

Time Banking. In addition to the 7-1/2 hours per day regularly worked, employees may elect to work extra hours to accumulate up to a total maximum of forty-five (45) hours to be taken off at a later time. The accumulation of such extra hours must be on productive work with the prior approval of supervision and approved as equitably as practicable. It must be worked in minimum thirty (30) minute periods and earned at the rate of hours accumulated equal to the actual extra hours worked. The accumulated time may be taken as time off by the employee subject to advance approval by supervision. The accumulation or use of banked time will not be unreasonably denied. However, vacation credits carried over from previous leave year must be exhausted or committed for use before banked time can be taken. The Company shall not promote that an employee bank time for recognized overtime work. The working of required extra hours as banked time will only be at the employee's discretion and such discretion is to be exercised once the overtime work has been accepted. The use of banked time is not intended to replace the use of overtime. Employees must use banked time before June 30th of the fiscal year after which it was earned. Management has the right to schedule leave. For employees who have made a significant effort to schedule the use of accumulated banked time, management will consult with the employee on the utilization of bank time.