Sections 7(g) (1) and (2) of the Act provide:
(g) No employer shall be deemed to have violated subsection (a) by
employing any employee for a workweek in excess of the maximum workweek
applicable to such employee under such subsection if, pursuant to an
agreement or understanding arrived at between the employer and the
employee before performance of the work, the amount paid to the employee
for the number of hours worked by him in such workweek in excess of the
maximum workweek applicable to such employee under such subsection:
(1) In the case of an employee employed at piece rates, is computed
at piece rates not less than one and one-half times the bona fide piece
rates applicable to the same work when performed during nonovertime
hours; or
(2) In the case of an employee performing two or more kinds of work
for which different hourly or piece rates have been established, is
computed at rates not less than one and one-half times such bona fide
rates applicable to the same work when performed during nonovertime
hours;
* * * * *
and if (i) the employee's average hourly earnings for the workweek
exclusive of payments described in paragraphs (1) through (7) of
subsection (e) are not less than the minimum hourly rate required by
applicable law, and (ii) extra overtime compensation is properly
computed and paid on other forms of additional pay required to be
included in computing the regular rate.