Rate of Accrual All full-time employees shall be credited with five (5) hours of paid sick leave per pay period.
Overtime Rate In accordance with the applicable wage and hour laws, the overtime rate will be one and one-half (1-1/2) of an employee’s regular rate of pay. The regular rate of pay will not include any allowable exclusions.
Mileage Rate The mileage rate for authorized travel – based on State of Florida rates on the Effective Date of this Agreement – is $0.445 per mile.
Weekly Overtime An Employee required to work in excess of forty (40) hours per week shall be paid at the rate of time and one-half (1 1/2) for the first eight (8) hours of work in excess of the forty (40) hours and double time thereafter.
Daily Overtime All employees shall be paid the applicable overtime rate of time and one-half (1-1/2) for all time worked in excess of eight (8) hours per day.
Mileage Rates The mileage rate shall be the maximum allowed by the Internal Revenue Service. If the IRS rate should change during the term of the contract, the contract rate shall change also on the date specified by the IRS.
Calculation of Overtime If the overtime work has been carried out before as well as after the regular working hours during a certain day, the overtime periods shall be added together. Only full half hours are included in the calculation.
Rate of Pay a. An Employee who is employed as a teacher teaching on call shall be paid 1/189 of his/her category classification and experience, to a maximum of the rate at Category 5 Step 7, for each full day worked.
Rate of Compensation In lieu of direct compensation for all overtime, shift work and standby (as defined in Articles 16, 17 and 18 of this Agreement), regular full-time employees shall receive a special compensation of 7% of their basic salary earned for each calendar year. This special compensation shall not be considered part of the employee's basic salary for the purpose of calculating any benefits or other premium entitlements.
Rate of Interest The Rate of Interest payable from time to time in respect of Floating Rate Notes will be determined in the manner specified in the applicable Final Terms.