Regular Overtime Rate definition
Regular Overtime Rate. As used in this Contract is the premium rate paid for all hours actually worked in a 40-hour workweek which are in excess of 40 hours and that have not already been specifically guaranteed as overtime. The overtime rate is 1 1/2 times the employee’s regular rate of pay, in accordance with the Fair Labor Standards Act. Regular overtime is computed on a weekly, not daily, basis. Any reference to overtime or pay at 1 1/2 times the regular base rate in this Contract will be defined as regular overtime for interpretive purposes unless specifically identified as “guaranteed” overtime.