The objective of this policy is to outline the terms and conditions under which employees may work overtime and the associated compensation or benefits.

[Specify the eligibility criteria for overtime work, e.g., "All full-time employees are eligible to work overtime with prior approval from their manager."]

[Detail the process, e.g., "Employees must submit a written request to their manager for approval prior to working overtime."]

[Specify the compensation policy, e.g., "Overtime will be compensated at 1.5x the regular hourly rate, payable in the next payroll cycle."]

[Specify the maximum allowable overtime hours, e.g., "Employees may not work more than 10 hours of overtime per week."]

[Detail consequences, e.g., "Failure to adhere to the policy may result in disciplinary action, up to and including termination."]

I, [Policy Created By], hereby declare that this Overtime Policy has been created in accordance with the company's objectives and legal requirements.

Name: [Name of Creator]

Designation: [Designation of Creator]

Date: [Date of Creation]