Time for which one is being compensated by one's employer, and for which the employer is therefore responsible for the welfare of the employee, and the employee is expected to refrain from engaging in personal interests.
2003, Shaquille O'Neal, quoted in Tim Brown, "Shaq's Not Back in Time", Los Angeles Times, February 11, 2003, Sports, Part 4, page 7:
Since I suffered the injury on company time, why shouldn't I also be able to get surgery and do recovery on company time?
2000, Joan Williams Unbending Gender: Why Family and Work Conflict and what to Do about it, page 91:
What employers find is that if workers are allowed to schedule in that time, many will do those errands on personal rather than company time.