Overtime Rate and Method of Compensation Sample Clauses

Overtime Rate and Method of Compensation. 1. For all employees in the bargaining unit who work a standard work schedule, all hours worked in excess of eight (8) hours in a day shall be compensated at the rate of one and one-half (1-1/2) times the regular hourly rate. For all employees in the bargaining unit, compensation shall be at the rate of one and one-half (1-1/2) times the regular hourly rate for all hours worked on the employee's regular scheduled day(s) off. Any scheduled overtime which is not contiguous to an employee’s normal schedule, shall be a minimum of four (4) hours and shall be paid at one and one- half (1-1/2) the regular hourly rate. Employees in the bargaining unit shall be compensated at double the employee’s regular rate of pay for all hours worked in excess of 12 hours in the workday. 2. For purposes of calculating the overtime rate for hours worked as mentioned in C.1. above, the regular hourly rate shall include: the employee’s base rate, shift differential, on-call, and hazardous duty pay. When an employee is employed at more than one base rate, overtime earned shall be calculated based on the base rate in effect when the overtime is earned. 3. Notwithstanding Section C.1. above, overtime compensation earned at the time and one-half or double time rate may be accrued as compensatory time at the employee’s option provided that no more than 240 hours compensatory time may be accrued in any calendar year. Employees may request to receive payment of hours in his/her compensatory time bank on the first pay date in June and the first pay date in December of each year. A maximum of 240 hours of compensatory time may be carried over into the next calendar year. The total amount of compensatory time carried over shall be credited to the maximum hours compensatory time accrual for that year. (For example, an employee who chooses to carry over eighty (80) hours into the following calendar year shall only be allowed to accrue a maximum one hundred sixty hours in the new calendar year.) A maximum of one hundred twenty (120) hours in any calendar year may be used as vacation. Any hours up to two hundred and forty hours will be paid out within the calendar year. 4. An employee shall request use of compensatory time off a minimum of four (4) work days in advance of the desired time off, except in an emergency. The supervisor will not unreasonably deny the use of compensatory time. The supervisor’s approval of the use of compensatory time will be subject to the operational needs of the Un...
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Overtime Rate and Method of Compensation. 1. Hours worked in excess of forty (40) hours worked in a workweek shall be compensated for at one and one-half (1½) times an employee's base hourly rate of pay. 2. For purposes of calculating the overtime rate for hours worked, the following shall be included as wages: the employee's regular hourly rate, shift differential, on-call, and special performance awards or other similar bonuses. 3. When an employee is employed at more than one rate of pay, overtime earned shall be calculated based on the rate in effect when the overtime is earned. 4. Notwithstanding Section B.1. above, overtime compensation earned may be taken, except for watch standers, in equivalent time off at the employee's option. a. No more than one hundred eighty (180) hours of compensatory time off may be accumulated. An employee shall be paid for hours of overtime which exceed the limit. b. Compensatory time off shall be scheduled and taken within two (2) six (6) month bank periods (January 1 - June 30; July 1 - December 31). Banked compensatory time off which is not paid or scheduled within the bank period in which it is earned or in the bank period following that in which it is earned shall be paid in the next regularly scheduled pay period at the employee's then current rate unless an extension has been granted by mutual consent of the employee and the University. c. An employee shall request use of compensatory time off at least five (5) calendar days in advance of the desired time off, except in an emergency. Compensatory time off will be granted subject to the operational needs of the University. d. Upon separation from employment, an employee shall be paid any banked compensatory time off earned at the time and one-half rate at the then current rate of pay or at the employee's average rate of pay for the last three (3) years of employment, whichever is higher.
Sample 1
Overtime Rate and Method of Compensation. 1. All employees in these Unit shall be compensated in cash or time off at the rate of “time and one-half” (1.5) the employee’s regular straight time hourly rate for all hours worked in excess of forty (40) hours in any workweek including all absences with pay authorized by law. Management shall determine whether compensation shall be in cash or time off based on the availability of overtime funds. (Non-pensionable) 2. Effective December 13, 2015, no more than one hundred and sixty (160) hours of compensatory time off (CTO) may be accumulated at any time and employees may use this compensatory time upon request, unless granting of such time would unduly disrupt the operations of the department. Employees may accumulate hours in excess of one hundred and sixty (160) hours for a temporary period of time. 3. If CTO over one hundred and sixty (160) hours cannot be taken within one (1) year after such overtime was worked, Management may direct employees to use the accumulated time that exceeds one hundred and sixty (160) hours prior to the end of the fiscal year; require employees to use such time in lieu of vacation or other leave time; or authorize compensation in cash. No employee shall lose accumulated time off. 4. Upon an employee’s request, Management may compensate the employee in cash or all or part of the employee’s compensatory overtime bank at any time, subject to the availability of funds. 5. Under no circumstances shall CTO in excess of two hundred and forty (240) hours be accumulated. Unless funds are available to pay overtime in cash, no additional overtime shall be approved until the employee’s accumulated overtime balance is reduced below two hundred and forty (240) hours. 6. Overtime shall not be paid more than once for any hours worked, and there shall be no pyramiding of overtime.
Sample 1

Related to Overtime Rate and Method of Compensation

  • HOLIDAY COMPENSATION FOR TIME WORKED 110. Employees required by their respective appointing officers to work on any of the above specified or substitute holidays, excepting Fridays observed as holidays in lieu of holidays falling on Saturday, shall be paid extra compensation of one additional day's pay at time-and-one-half the usual rate in the amount of 12 hours pay for 8 hours worked or a proportionate amount for less than 8 hours worked provided, however, that at the employee's request and with the approval of the appointing officer, an employee may be granted compensatory time off in lieu of paid overtime pursuant to the provisions of Section III.E.2. 111. Executive, administrative and professional employees designated in the Annual Salary Ordinance with the "Z" symbol shall not receive extra compensation for holiday work but may be granted time off equivalent to the time worked at the rate of-one-and-one-half times for work on the holiday.

  • Annual Compensation The Executive's "Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of base salary paid to the Executive by the Employers or any subsidiary thereof during any of the three calendar years ending during the calendar year in which the Date of Termination occurs.

  • Holiday Compensation Compensation for each paid holiday day not taken out is 4.6 % of the current monthly salary and holiday supplement according to 9.4.1 and 9.4.

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125.00 per hour.

  • PROFESSIONAL COMPENSATION 11.1 The basic salaries of teachers covered by this Contract shall be set in accordance with the procedures set forth in this Agreement. 11.2 The salary of the teacher will be presumed correct as shown in the Uniform Teacher’s Contract unless the teacher or the Employer furnishes evidence of error. 11.3 An explanation as to how contract salary figures are computed will accompany the first paycheck of each school year. 11.4 Basic salaries for teachers shall be paid in twenty-six (26) payments. Basic salaries for teachers shall be paid in twenty-six (26) payments in a given calendar year. Exceptions may be made with the approval of the Cash Flow Committee. A teacher may receive the balance due on his contract with the first scheduled paycheck in July by written notice to the Business Office by May 1. If May 1 occurs on a day that school is not in session, the deadline shall be the next regular school day. A teacher who makes this election shall continue each year to receive the balance due on his contract with the first scheduled paycheck in July unless he notifies the Business Office by May 1 that he prefers to be paid in twenty-six (26) payments. Teachers will be notified by the Cash Flow Committee of the Xxxxxxx Teachers’ Federation prior to June 1 in the event the balance on teachers’ contracts due on the first scheduled paycheck in July cannot be paid. 11.5 New teachers will receive one half (½) of their first pay one payroll in advance and the remaining one half (½) on the next pay date. 11.6 Effective January 1, 2009, teacher pay will be issued via direct deposit only. 11.7 The Superintendent may approve additional compensation for individual teachers who have been authorized by the Superintendent to perform additional work assignments. 11.8 Payroll deductions for teachers shall be made as required by law or as mutually agreed to by the parties. Teachers may authorize deductions for tax-sheltered annuities during open enrollment periods of the carrier companies involved. 11.9 Deductions for daily absences not covered by provisions in the Contract shall be made at the same rate as earned. 11.10 Effective January 1, 1993, the Board shall pay directly to the Indiana State Teachers Retirement Fund each teacher’s three percent (3%) contribution to the fund. 11.11 The parties recognize that the salaries which appear on Regular Teacher’s Contracts and Teacher’s Temporary Contracts will be inaccurate whenever a salary increase is approved after these contracts have been executed. At the time of a teacher’s retirement, the Employer will review these contracts and, when necessary, revise the contracts for the five (5) years of service before retirement in which the teacher’s annual compensation was highest so they accurately reflect the sums which the teacher earned in each of those five (5) years. 11.12 The parties recognize that students are entitled to be taught by fully qualified teachers, while at the same time recognizing a professional responsibility to assist in the preparation of student teachers. Therefore, supervision by a teacher of a student teacher shall be voluntary. No teacher should serve as a supervising teacher more than one-half (1/2) of the total teaching time each year. This provision was not bargained and has been included for informational purposes only. Should 11.13 If the Employer determines that any committee should continue its work during the summer, teachers belonging to the committee performing such services shall be paid on the same basis and in the same manner as summer school teachers. If the Employer determines that professional development should occur in the summer, specific teachers invited to participate shall be paid on the same basis as summer school teachers.

  • Services and Compensation Consultant shall perform the services described in Exhibit A (the “Services”) for the Company (or its designee), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services.

  • Overtime Compensation 1. Except as provided in this section, Grantee will be responsible for any obligations of premium overtime pay due employees. Premium overtime pay is defined as any compensation paid to an individual in addition to the employee’s normal rate of pay for hours worked in excess of normal working hours. 2. Funds provided under this Contract may be used to pay the premium portion of overtime only under the following conditions: i. With the prior written approval of System Agency; ii. Temporarily, in the case of an emergency or an occasional operational bottleneck; iii. When employees are performing indirect functions, such as administration, maintenance, or accounting; iv. In performance of tests, laboratory procedures, or similar operations that are continuous in nature and cannot reasonably be interrupted or otherwise completed; or v. When lower overall cost to System Agency will result.

  • Compensation for Overtime Assigned overtime is designated as those hours over the regular hours of work which are requested of the employee by management. Assigned overtime worked shall be paid at the rate of time and one-half (1 1/2).

  • Your Compensation (a) Your concession, if any, on your sales of Portfolio shares will be as provided in the Prospectus or in the applicable schedule of concessions issued by us and in effect at the time of our sale to you. Upon written notice to you, we or any Portfolio may change or discontinue any schedule of concessions, or issue a new schedule. (b) If a Portfolio has adopted a plan pursuant to Rule 12b-1 under the Investment Company Act of 1940 (a "Plan"), we may make distribution payments or service payments to you under the Plan. If a Portfolio does not have a currently effective Plan, we or Fidelity Management & Research Company may make distribution payments or service payments to you from our own funds. Any distribution payments or service payments will be made in the amount and manner set forth in the Prospectus or in the applicable schedule of distribution payments or service payments issued by us and then in effect. Upon written notice to you, we or any Portfolio may change or discontinue any schedule of distribution payments or service payments, or issue a new schedule. A schedule of distribution payments or service payments will be in effect with respect to a Portfolio that has a Plan only so long as that Portfolio's Plan remains in effect. (c) Concessions, distribution payments, and service payments apply only with respect to (i) shares of the "Fidelity Funds" (as designated on Schedule A attached to this Agreement) purchased or maintained for the account of Bank Clients, and (ii) shares of the "Fidelity Advisor Funds" (as designated on Schedule B attached to this Agreement). Anything to the contrary notwithstanding, neither we nor any Portfolio will provide to you, nor may you retain, concessions on your sales of shares of, or distribution payments or service payments with respect to assets of, the Fidelity Funds attributable to you or any of your clients, other than Bank Clients. When you place an order in shares of the Fidelity Funds with us, you will identify the Bank on behalf of whose Clients you are placing the order; and you will identify as a non-Bank Client Order, any order in shares of the Fidelity Funds placed for the account of a non-Bank Client. (d) After the effective date of any change in or discontinuance of any schedule of concessions, distribution payments, or service payments, or the termination of a Plan, any concessions, distribution payments, or service payments will be allowable or payable to you only in accordance with such change, discontinuance, or termination. You agree that you will have no claim against us or any Portfolio by virtue of any such change, discontinuance, or termination. In the event of any overpayment by us of any concession, distribution payment, or service payment, you will remit such overpayment. (e) If any Portfolio shares sold to you by us under the terms of this Agreement are redeemed by the issuing Portfolio or tendered for redemption by the customer within seven (7) business days after the date of our confirmation of your original purchase order for such shares, you agree (i) to refund promptly to us the full amount of any concession, distribution payment, or service payment allowed or paid to you on such shares, and (ii) if not yet allowed or paid to you, to forfeit the right to receive any concession, distribution payment, or service payment allowable or payable to you on such shares. We will notify you of any such redemption within ten (10) days after the date of the redemption.

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