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. 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, hazardous duty pay. When an employee is employed at more than one base rate, overtime earned at the time and one-half rate 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 rate may be accrued as compensatory time at the employee’s option provided that no more than one hundred twenty (120) hours of 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 one hundred twenty (120) 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 one-hundred twenty (120) 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 forty (40) hours in the new 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 University. 5. Upon separation from employment, an employee shall be paid any banked compensatory time earned at the premium 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 hi...
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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
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

Related to Overtime Rate and Method of Compensation

  • HOLIDAY COMPENSATION FOR TIME WORKED 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 as provided for elsewhere in this contract. 127. 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 per hour.

  • PROFESSIONAL COMPENSATION A. The salaries of employees covered by this Agreement are set forth in the appendixes which are attached hereto and incorporated in this Agreement. Each employee shall have the yearly option of receiving his/her salary in one of the following ways: 1. Each employee hired after July 1, 1987, shall receive his/her total salary divided into twenty-four (24) equal payments on the fifth (5th) and twentieth (20th) of each month. If the 20th of the month falls on a holiday or weekend, the payday will be on the first business day immediately following. 2. Employees employed in the District prior to July 1, 1987, may have their total salary divided as stated above or they may choose to have their pay divided into twenty-one (21) equal installments, beginning with the August 20th payroll each contract year. B. Total salary for less than full-time employees shall be paid as indicated in 1 or 2 above, beginning at the date of hire, but the salary shall be adjusted based on the yearly number of work days for employees as set by the school calendar, and then pro-rated on the portion of the year and/or day worked by the individual employee. C. It is understood and agreed that each employee shall elect payment for the subsequent year in accordance with the previous year's selection unless the Business Office is notified in writing of such employee's change in selection on or before August 15. D. Pay deductions will be made only for the following authorized items: 1. Mandatory/voluntary government deductions. 2. IRS Section 125 deductions. 3. Insurance carriers designated by this Agreement or approved by the Employer. 4. Deductions as authorized in other articles of this Agreement. E. The Employer may make direct payroll check deposits to banks, savings and loan associations, and other financial and with which the Employer has a written agreement dealing with payroll deposits. Such direct payroll deposits would be made only upon the written request/approval of the employee. F. The Employer shall reimburse employees for actual costs of college tuition and fees, upon completion of coursework. This reimbursement shall be limited to a total of 6 credit hours or 18 SBCEU’s or 180 SCECH’s or a combination thereof in a five-year period. (3 SBCEU’s = 1 credit hour or 30 SCECH’s = 1 credit hour) Each year of the five year period will be based on the school fiscal year (July 1 to June 30). The rate of reimbursement shall be limited to the actual amount of tuition and fees paid, but shall not exceed the amount charged by Grand Valley State University per graduate credit hour. The Employee will be required to provide proof of payment and proof of successful completion of the course. G. Employees asked to substitute during their planning period will be paid at a rate of $25.00 per planning period. The employee will receive a coupon for an early dismissal or late arrival, or other site based incentives along with the compensation. This coupon may be used at any time so long as it does not interfere with the employee’s normal duties, i.e. staff meetings, IEPC. More than one coupon may be used at the same time with the approval of the Administration. A coupon is attached to this agreement, (see Appendix F). Employees asked to teach additional students for a period shall be eligible for the substitute rate above.

  • 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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