Overtime Rate Calculation Sample Clauses
The Overtime Rate Calculation clause defines how employees are compensated for hours worked beyond their standard work schedule. Typically, this clause specifies the rate at which overtime is paid, such as one and a half times the regular hourly wage, and may outline which hours or days qualify as overtime (for example, hours worked over 40 in a week or work performed on holidays). Its core function is to ensure fair and transparent compensation for extra work, preventing disputes and clarifying employer obligations regarding overtime pay.
Overtime Rate Calculation. Overtime rates will be calculated using hourly rates established in Article 11. Shift or standby premiums will not form part of the hourly rate calculations for overtime purposes. Overtime will be calculated to the next highest fifteen (15) minutes, however, the minimum overtime pay for any overtime worked shall be one-half hour.
Overtime Rate Calculation. Overtime rates will be calculated using the salary schedule as set out in Appendix "A". Any premiums contained in this agreement will not form part of the calculation for overtime purposes.
Overtime Rate Calculation. Overtime rate for all employees, except the thirty (30) hour Cook, will be computed on the basis of two thousand eighty (2,080) hours per year. The overtime rate for the thirty (30) hour Cook will be computed on the basis of one thousand five hundred sixty (1,560) hours per year.
Overtime Rate Calculation. Overtime rates will be calculated using the salary schedule as set out in Appendix “A”. Any premiums contained in this agreement will not form part of the calculation for overtime purposes. The parties recognize that there should be reasonable give and take between the employees and the Association and therefore employees will not claim for daily overtime which is fifteen (15) minutes or less. Overtime in excess of fifteen (15) minutes will be rounded up or down to the nearest half hour.
Overtime Rate Calculation. Currently, Holiday Pay is NOT included in the calculation of the overtime rate of pay. • Effective upon ratification, Holiday Pay will be included in the calculation of the overtime rate of pay. • This will result in an increase in your overtime rate of pay.