At the end of the time limit, the right to the holding of immovable property which has not been transferred in accordance with the severance pay agreement shall be waived or lost. Michigan labor laws require employers to pay employees overtime at a rate of 1 1/2 of your regular rate if they work more than 40 hours per work week, unless otherwise waived. This is me. Comp. Laws 408:384a. For more information on overtime requirements, see FLSA: Overtime. . . .