Employee Waiver Letter
[YOUR NAME]
[YOUR COMPANY NAME]
[YOUR COMPANY ADDRESS]
Date: July 1, 2050
Dahlia White
Senior Manager, Sales
Sales Department
[YOUR COMPANY ADDRESS]
Subject: Overtime Pay Waiver Agreement
Dear Dahlia White,
We are writing to formally document the agreement between [YOUR COMPANY NAME] and you regarding your status as an exempt employee and the waiver of overtime pay.
As per your employment classification, you are recognized as an exempt employee under the Fair Labor Standards Act (FLSA), which means you are not eligible for overtime pay for hours worked beyond the standard 40-hour workweek. This exemption is due to the nature of your role as a Senior Manager, Sales, which involves duties and responsibilities that fall under the executive, administrative, or professional exemption criteria as defined by the law.
Terms of Agreement:
By signing this waiver, you voluntarily acknowledge and agree to the following:
Overtime Exemption: You understand and accept that due to your exempt status, you are not entitled to receive overtime pay, regardless of the number of hours worked in any given workweek.
Work Schedule Flexibility: You acknowledge that your role may require you to work beyond normal business hours as necessary to fulfill your job responsibilities. However, you will not receive any additional compensation, including overtime pay, for any hours worked beyond the standard 40 hours per week.
Compensation: Your agreed-upon salary of $120,000 per year compensates you fully for all hours worked, whether they fall within the regular work schedule or extend beyond it.
Voluntary Agreement: You acknowledge that signing this waiver is voluntary and that you have been given the opportunity to ask questions and seek legal or personal counsel if necessary. You understand the implications of this waiver and agree to its terms.
Review and Revisions: This waiver may be reviewed and updated periodically by [YOUR COMPANY NAME]. Any revisions will be communicated to you, and your consent will be obtained before any changes take effect.
Duration of Agreement:
This waiver agreement will remain in effect for the duration of your employment in an exempt role at [YOUR COMPANY NAME], or until your role or classification changes, at which point a new agreement will be discussed.
Employee Confirmation:
By signing below, you acknowledge that you have read, understood, and agree to the terms outlined in this Overtime Pay Waiver Agreement. You further confirm that you have received a copy of this letter for your records.
Please return a signed copy of this letter by July 10, 2050.
If you have any questions regarding this agreement or require further clarification, please feel free to contact Efrain Abshire at 222 555 7777 or via email at [YOUR COMPANY EMAIL].
Sincerely,
[YOUR NAME]
Human Resources Director
Employee Acknowledgement:
I, Dahlia White, have read and fully understand the terms of this Overtime Pay Waiver Agreement, and I voluntarily agree to abide by these terms.
Employee Signature
Date:
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