Overtime Payment definition

Overtime Payment means any payment due from an employer to an employee for work carried out in excess of the normal working hours of such employee and includes any payment paid to an employee for work carried out on public holidays and rest days;

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Overtime Payment is the Annual Rate plus overtime loading “Kiln Shutdown Overtime Loading” is 100% of the hourly equivalent of the annual rate

Overtime Payment. Employees shall be paid at the rate of one and one-half (1½) times the employee's straight time hourly rate for all time in excess of 40 hours in paid status weekly.

Examples of Overtime Payment in a sentence

• The Base Salary and the Overtime Payment together shall constitute the “Salary” for purposes of this Agreement.

• Employee will be entitled to full Global Overtime Payment even if the entire Quota was not met.

• The parties agree that the Global Overtime Payment be treated, for all intents and purposes, as salary payment and therefore the Base Salary and the Global Overtime Payment shall be collectively referred to as the “Salary”.

• In the event that such staff is called back for duty, the staff shall be granted a Call Back Compensation in accordance with the policies on Overtime Payment, Work on Rest Day or Public Holiday.

• The parties estimate that the Quota reflects the actual overtime hours that Employee may work and therefore, the Global Overtime Payment is sufficient to cover all overtime work.

• The Base Salary together with the Overtime Payment (as applicable) shall constitute the “Salary” for purposes of this Agreement.

• The Company undertakes that the Global Overtime Payment shall be raised together with any Base Salary increase.

• Since the Employee is employed in position of trust, the nature of the work precludes supervision of the Employee’s work hours, and in light of the Company’s anticipation that the Employee will be working overtime hours, the Employee will be entitled to the Overtime Payment, as defined below, for up sixty four (64) global work hours per month.

• If the Employee or any third party on the Employee’s behalf file a claim against the Company for payment on overtime hours which exceed the terms set forth in this Section 2.2, the Company shall be entitled to offset the entire Global Overtime Payment that it had paid to the Employee against any sums ruled in favor of the Employee in such claim.

• The Overtime Payment shall be adjusted simultaneously with the adjustment of the Base Salary and the ratio of adjustment as that of the Base Salary, unless specifically stated otherwise.

More Definitions of Overtime Payment

Overtime Payment means the respective base salary for overtime hours increased by the applicable Overtime Bonus.

Overtime Payment means the excess (if any) of (x) the aggregate amount of overtime wages required to be paid to Business Employees of the Restaurants for overtime worked during the week of Closing, over (y) $3,000. “Owned Intellectual Property” means all Intellectual Property owned by any of Sellers, including (without limitation) all: (i) registered and unregistered Marks (excluding Internet domain names); (iii) unregistered Copyrights; (iv) registered Internet domain names; (v) trade names; and (vi) social media pages. “PPP Rules” means all statutes applicable to the Paycheck Protection Program. “Pandemic” means the outbreak of COVID-19.

Overtime Payment means the Additional Payment that is payable to employees for the working of Overtime Hours in accordance with this Agreement.