I have signed one of these. I am on a salary, but my contract states that overtime may be required as business needs demand it. That said, it also states that any hours worked as overtime will be paid in addition to my salary.
Yes, I can and do work long hours sometimes, but anything over 42hrs a week is paid extra, so it has actually come in really handy over the years and helped to pay for all sorts.
I think that the work regime where I work is OK, and although overtime is technically required as part of my contract, it is actually contractually only 1 weekend out of 3, and even then only one day of that weekend.
They cannot contractually force me to do more, but I often willingly do so as the extra money comes in handy.
I suppose the bottom line is it really all depends on your contract and the work ethos of the company. I feel I am lucky that I get paid extra for overtime, even though I am on a salary. But they understand that I do not work for free, and nor should I.
I would read your contract very carefully, and if it refers to separate documents, make sure you read those as well. But as others have said, you can opt in an opt out as you wish. However, some places I know of believe that if you are not working free overtime every day, you have the wrong 'attitude'.
Personally that view really annoys me as I dont work for free. If there is work to be done, I will happily do it but if the company is getting paid by clients for said work, then I should in turn be paid by my employer for undertaking the work. If a company requires regular overtime for 'free' then unfortunately I dont think they are a good company, both in their outlook or resource management.
