Banked Overtime definition

Banked Overtime means the time worked in excess of a member's regular tour of duty for which the member will be compensated at overtime or straight time rates pursuant to specific provisions of this Agreement. The member, at the discretion of the Chief Constable, shall have the choice of receiving payment for overtime earned or by time off in lieu of payment. A member may choose to bank overtime earned to a maximum of one hundred and twenty (120) hours in a calendar year to be taken in time off in lieu of payment at a mutually acceptable time to the Chief Constable and to the member. However, it is agreed that a member shall be allowed to carry forward a maximum of forty-eight (48) banked hours of overtime into the next calendar year. Auditing for the purpose of this section shall be as of December 1st of each calendar year. A member who has applied for time off in lieu, which has been duly approved prior to December 1st and is for time off during the month of December, shall be allowed to carry forward forty-eight (48) banked hours of overtime to the next calendar year. Upon promotion, the Board shall have the option of paying out in full a member's banked overtime.
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Banked Overtime means the time worked in excess of a member's regular tour of duty for which the member will be compensated at overtime or straight time rates pursuant to specific provisions of this Agreement. The member, at the discretion of the Chief Constable, shall have the choice of receiving payment for overtime earned or by time off in lieu of payment. A member may choose to bank overtime earned to a maximum of one hundred and twenty (120) hours in a calendar year to be taken in time off in lieu of payment at a mutually acceptable time to the Chief Constable and to the member. However, it is agreed that a member shall be allowed to carry forward a maximum of forty‐eight (48) banked hours of overtime into the next calendar year. Auditing for the purpose of this section shall be as of December 1st of each calendar year. A member who has applied for time off in lieu, which has been duly approved prior to December 1st and is for time off during the month of December, shall be allowed to carry forward forty‐eight (48) banked hours of overtime to the next calendar year. Upon promotion, the Board shall have the option of paying out in full a member's banked overtime. Where a member has more than forty‐eight (48) hours in their bank on December 1st and has not pre‐ scheduled time off sufficient to bring the hours in the bank down to forty‐eight (48), the Board may, at the discretion of the Chief Constable, choose to pay those hours in excess of forty‐eight (48) to the member in cash.
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Examples of Banked Overtime in a sentence

  • If, when taking the time off as signed, the employee has not earned all of the Statutory Holidays, the employee may take the time off without pay, or may work on the Spareboard as Junior Extra with guarantee, or may access his or her Banked Overtime.

  • Where an employee qualifies for Family Responsibility Leave and the employee has Banked Overtime, the employee may access Banked Overtime for the day(s) in question.

  • Should the employee wish to use an annual vacation day or Banked Overtime Day to compensate for the days lost earnings, their request will not be denied.

  • The Company will use its best efforts to allow employees to utilize the Banked Overtime in the event of family emergencies, or for extended Bereavement Leave.

  • Employees will be permitted to access their Banked Overtime or Random Annual Vacation to cover the time off.

  • The Banked Overtime (or BOT) balance is determined by multiplying the overtime hours worked by the applicable overtime rate.

  • Regular or temporary employees shall have the option of being compensated for overtime in cash or compensatory time off (Banked Overtime).

  • Where an employee qualifies for Family Responsibility Leave and the employee has Banked Overtime, Unscheduled Annual Vacation (UAV) or Random Annual Vacation (RAV) time available, the employee may access Banked Overtime, UAV or RAV for the day(s) in question.

  • It is expected that employees will take Special Leave time off in full tours or in combination with other time off entitlements: i.e.: Vacations, Banked Overtime, Floaters, etc.

  • The Company and the Union agree to implement a trial system of Banked Overtime in Year 2 of this Collective Agreement.

Related to Banked Overtime

  • Overtime means work performed by a full-time employee in excess or outside of their regularly scheduled hours of work.

  • Shift means a daily tour of duty exclusive of overtime hours.

  • Wages is defined as the amount of money the employee would have otherwise received over a period of absence, excluding overtime.

  • Current Sick Leave means those days of sick leave for the current contract year, which leave is granted at the rate of one day of sick leave per month worked, or major part thereof.

  • Unscheduled Holiday means a day that is not a Settlement Business Day and the market was not aware of such fact (by means of a public announcement or by reference to other publicly available information) until a time later than 9:00 a.m. local time in the principal financial centre of the Specified Currency two Settlement Business Days prior to the relevant Rate Fixing Date. As soon as the Calculation Agent is aware of such an Unscheduled Holiday, they shall inform the Issuer promptly.