Capped Hourly Rate definition
Capped Hourly Rate means your notional hourly rate of Base Pay paid to you at the start of the Agreement, up to the applicable ABS Cap.
Examples of Capped Hourly Rate in a sentence
From 1 July 2020, the ordinary rate of payment for the calculation of overtime is capped at the lowest pay point within Grade 4 in accordance with clause 46.7(b) of Section I of the Agreement (Capped Hourly Rate).
For the purpose of this clause: • Capped Hourly Rate means your notional hourly rate of Base Pay paid to you at the end date of the Relevant Period, up to the ABS Cap.
From 1 July 2020, the ordinary rate of payment for the calculation of overtime is capped at the lowest pay point within Grade 4 in accordance with clause 41.6(b) of Section I of the Agreement (Capped Hourly Rate).