Common use of Holiday Bank Clause in Contracts

Holiday Bank. Up to ninety-six (96) hours of holiday pay will be placed in a holiday bank for each Officer to cover the six (6) recognized legal holidays provided in Article 29-1 and the six (6) additional holidays provided in Article 29-2. Officers newly joining the Department will be credited with sufficient holiday hours in their bank to cover those holidays scheduled to occur during the remainder of his/her first calendar year of employment. Once the ninety-six (96) hours of banked holiday time has been depleted, Officers regularly scheduled to work but who are given the holiday off to maintain normal holiday staffing levels must use other paid time off to be compensated for the day. If the University offers additional holidays in any calendar year beyond those provided in Article 29-2, the hours for such extra “additional” holidays will be added to the holiday bank. Such extra “additional” holiday hours shall not accumulate from year to year.

Appears in 4 contracts

Samples: Agreement, Agreement, Letter of Agreement

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