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Just a thought here, but, have you considered putting him on salary? Average what you usually pay him including overtime to get a starting point for your salary, but then deduct something for his having free use of the truck.
He is probably eligible, if he is in a supervisory position. If he regularly supervises two or more employees, is in charge of a unit, department or shift, and his job requires discretion and independent judgement. If the amount of overtime varies greatly week to week, there are possible advantages for you both.
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