(A) Overtime compensation shall be computed in the manner prescribed by this rule. This rule incorporates the provisions of division (A) of section 4111.03 of the Revised Code and sections 207 and 213 of the federal Fair Labor Standards Act, 29 U.S.C. 207 and 29 U.S.C. 213.
(B) Subject to the provision noted in paragraph (A) of this rule, an employee shall be paid the prevailing wage for every hour actually worked on any project which requires payment of the prevailing wage. In addition to that amount, for every hour an employee works for an employer on any project which requires payment of the prevailing wage which takes place after the first forty hours worked by the employee for the employer on all projects, he shall be paid the basic hourly rate, as determined by this rule, times one-half.
(C) For the purposes of the calculations required by this rule, the basic hourly rate shall be the basic hourly rate as listed in the applicable prevailing wage rate schedule.