FLSA Status Sample Clauses

The FLSA Status clause defines whether a position is classified as exempt or non-exempt under the Fair Labor Standards Act (FLSA), which determines eligibility for overtime pay and minimum wage protections. In practice, this clause specifies if an employee is entitled to receive overtime compensation for hours worked beyond the standard 40-hour workweek, based on their job duties and salary level. Its core function is to ensure compliance with federal labor laws and to clarify the employer’s obligations regarding pay, thereby reducing the risk of wage and hour disputes.
FLSA Status. The parties agree that the employees covered by this Agreement are professional employees within the meaning of the Federal and State Fair Labor Standard Acts.
View SourceView Similar (3)
FLSA Status. 2Section 1.02 ‑ Union Dues and Fair Share Fees Check‑Off
View Source
FLSA Status. The Association and City agree that any classification categorized as FLSA Exempt shall not be eligible to receive overtime pay or compensatory time, but shall receive Administrative Leave per Section
View Source

Related to FLSA Status

  • ERISA Status With respect to the initial advance to such Qualified Borrower only, either (i) a favorable written opinion of counsel to such Qualified Borrower, addressed to the Secured Parties, reasonably acceptable to the Administrative Agent and its counsel, regarding the status of such Qualified Borrower as an Operating Company (or a copy of such opinion addressed to the Investors, reasonably acceptable to the Administrative Agent and its counsel, together with a reliance letter with respect thereto, addressed to the Secured Parties); or (ii) a certificate, addressed to the Secured Parties, signed by a Responsible Officer of such Qualified Borrower that the underlying assets of such Qualified Borrower do not constitute Plan Assets because less than 25% of the total value of each class of equity interests in such Qualified Borrower is held by “benefit plan investors” within the meaning of Section 3(42) of ERISA which shall be substantially in the form of the ERISA 25% Certificate;

  • Company Status The Company is a corporation duly formed and validly existing under the general laws of the State of Maryland, with all requisite power and authority to enter into this Agreement and to carry out its obligations hereunder.

  • Travel Status Travel by an employee, outside the College region on College business, where authorization for such travel has been requested in advance on the appropriate form, and approved by the College.

  • PFIC Status Based on the Company’s current income and assets and projections as to the value of its assets and the market value of its Shares, including the current and anticipated valuation of its assets, the Company does not believe it was a Passive Foreign Investment Company (“PFIC”) within the meaning of Section 1297 of the United States Internal Revenue Code of 1986, as amended, for its most recent taxable year, and does not expect to become a PFIC for its current taxable year or in the foreseeable future.

  • Pay Status An aggrieved employee and the Union Delegate shall be in a pay status during those working hours in which a grievance, a grievance mediation, or an arbitration hearing is held. Release time for additional employee representation shall be subject to approval by the Labor Relations Officer or designee when a group grievance is filed.