EMPLOYEE OVERTIME WAIVER OUTLINE
[Your Company Name]
[Your Company Address]
[Date]
1. Title
Employee Overtime Waiver for Exempt Employees
2. Purpose
This waiver clarifies the status of the employee regarding their classification as an exempt employee under the Fair Labor Standards Act (FLSA) and confirms their understanding of the implications of waiving overtime pay.
3. Definitions
Exempt Employee: An employee who is exempt from overtime pay under applicable federal and state laws due to their job duties and salary level.
Overtime Pay: Compensation for hours worked over 40 in a workweek at a rate of 1.5 times the regular hourly rate.
4. Employee Information
Employee Name: ________________________________
Employee Job Title: ___________________________
Department: __________________________________
Employee ID (if applicable): ___________________
5. Acknowledgment of Exempt Status
6. Waiver of Overtime Pay
7. Terms of Waiver
This waiver is effective as of [Start Date] and remains in effect until terminated by either party with written notice.
The waiver applies to all hours worked in excess of 40 hours per week while employed in my exempt position.
8. Employee Rights
9. Employer Responsibilities
10. Signature
By signing below, I acknowledge that I have read, understand, and voluntarily agree to the terms of this Employee Overtime Waiver.
Employee Signature: ________________________________
Date: ________________________
Employer Representative Signature: __________________
Date: ________________________
Waiver Templates @ Template.net
