Is an employer allowed to agree with an employee to waive overtime pay? No. An agreement of this type is invalid under most state laws and under federal overtime regulations. Related PostsIs overtime pay required for driving to different work locations for my job?Does my employer have to pay me overtime for community service work hours?Am I entitled to overtime pay for community service work required by my company?What are the overtime pay laws for salesmen?What are the overtime laws for nannies?