[Code of Federal Regulations]
[Title 29, Volume 3]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 29CFR548.501]

[Page 264]
 
                             TITLE 29--LABOR
 
         CHAPTER V--WAGE AND HOUR DIVISION, DEPARTMENT OF LABOR
 
PART 548_AUTHORIZATION OF ESTABLISHED BASIC RATES FOR COMPUTING OVERTIME 
PAY--Table of Contents
 
                        Subpart B_Interpretations
 
Sec. 548.501  Overtime hours based on nonstatutory standards.

    Many employees are paid daily overtime pay or Saturday overtime pay 
or overtime pay on a basis other than the statutory standard of overtime 
pay required by section 7(a) of the Act. In these cases, the number of 
hours for which an employee is paid at least one and one-half times an 
established basic rate must equal or exceed the number of hours worked 
in excess of the applicable number of hours established in section 7(a) 
of the Act in the workweek. However, only overtime hours under the 
employment agreement which also qualify as overtime hours under section 
7(e) (5), (6), or (7) of the Act \25\ may be offset against the hours of 
work in excess of the applicable number of hours established in section 
7(a) of the Act.
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    \25\ See Sec. Sec. 778.201 through 778.207 of this chapter.

[26 FR 7732, Aug. 18, 1961]