Paid Time Off Policy
This policy shall apply to all regular exempt staff and benefits eligible nonexempt staff required to work on one of the following observed holidays or an alternate date of recognition as announced by Oceans:
The following holidays below will be observed pursuant to the terms of this policy:
- New Year’s Day
- Memorial Day
- Fourth of July
- Labor Day
- Thanksgiving Day
- Christmas Day
NOTE: For exempt and non-exempt employees who normally conduct business Monday through Friday, in the event the holiday falls on a weekend, will observe the holiday on the Friday directly preceding or the Monday directly following the holiday. If a holiday falls on a Saturday, it will be observed on Friday; if the holiday falls on a Sunday, it is observed on Monday.
PROCEDURE
HOLIDAY PAY PREMIUM
- Full-time non-exempt staff required to work on a holiday will receive a holiday pay premium.
- The holiday pay premium is equal to the employee’s base hourly pay rate, resulting in the employee being paid double time for working on a holiday.
- The holiday pay premium may be paid for hours worked on either the actual holiday or the day observed by Oceans. In the event the employee works on an actual holiday, they will be paid the additional holiday premium. In the event the employee is NOT able to work their assigned shift on the observed holiday due to departmental closure, they are eligible for holiday pay premium on the observed holiday.
- The holiday premium pay applies to shifts that begin on the actual holiday or the day observed by Oceans.
EMPLOYEE’S RESPONSIBILITY
All non-exempt employees should submit an electronic request via Paycom to their supervisor for approval whenever they wish to take time off on a holiday or an observed holiday. If two or more employees in the same job category request the same day, the employee with the earliest dated request may be given preferential consideration, at the supervisor’s discretion.
SUPERVISOR’S RESPONSIBILITY
For each company-observed holiday, the supervisor is responsible for:
- Preparing holiday work schedules.
- Granting an alternate day off when requested.
- Ensuring an employee’s time is recorded on time records.
COMPENSATION
Full-time employees that work the holiday will receive regular base pay in addition to the “holiday premium pay.” If a full-time employee regularly works a 12 hour shift, they will receive 12 hours of pay at their base rate plus Holiday pay premium resulting in double time pay for the 12 hours worked on the holiday; if a full- time employee regularly works an 8 hour shift, they will receive 8 hours of pay at their base rate plus Holiday pay premium resulting in double time pay for the 8 hours.
Any employee who is not scheduled to work on the actual or observed holiday will not receive any additional compensation.
Part-time and PRN eligible staff that work the actual holiday will be paid at a rate of base rate time and a half.
For more information, please contact your HRD.
PAY DAYS ON HOLIDAYS
When possible, pay days falling on a company-observed holiday will be rescheduled to the preceding day.
