Premium Compensation. Premium compensation is defined as any rate of compensation in excess of an employee's regular straight-time rate of pay. In any and all cases, premium compensation for overtime work will be based on hours actually worked. N o Pyramiding: There shall be no pyramiding of premium compensation. "No pyramiding of premium compensation" means that premium compensation shall not be paid more than once for the same hours under any provision of this Agreement; for example, if an employee is assigned to work overtime on a holiday, the employee will be compensated at the holiday rate of two and one- half (2-1/2) times his/her regular, straight-time rate of pay only.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
Premium Compensation. Premium compensation is defined as any rate of compensation in excess of an employee's regular straight-time rate of pay. In any and all cases, premium compensation for overtime work will be based on hours actually worked. N o No Pyramiding: There shall be no pyramiding of premium compensation. "No pyramiding of premium compensation" means that premium compensation shall not be paid more than once for the same hours under any provision of this Agreement; for example, if an employee is assigned to work overtime on a holiday, the employee will be compensated at the holiday rate of two and one- half (2-1/2) times his/her regular, straight-time rate of pay only.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
