what does over time and time in a half mean?

Employees who earn an hourly wage can only work 40 hours a week. When they work more hours a week, that's considered overtime. By federal law, employees who work overtime are entitled to 1 1/2 times (time and a half) their hourly wage for these overtime hours. In other words, if an employee makes $10 per hour for 40 hours a week, s/he must be paid $15 an hour (time and a half) for each hour over 40 hours.

Check this site for more information.

http://www.dol.gov/dol/topic/wages/overtimepay.htm

Over time is work time over the normal workweek specified by contract or law. Time and a half means premium pay, at 150 percent the hourly rate of normal work time.

Over time is work time over the normal workweek specified by contract or law. Time and a half means premium pay, at 150 percent the hourly rate of normal work time.