Earlier quoted context omitted.
The subject of the verb "to entitle" is that which grants entitlement. The recipient is the object. I think we can legitimately read the sentence as passive. Active; "applicable regulations" are doing something: "Applicable regulations entitle you to jump pay for the time you spent in training last year." Passive; "applicable regulations" are still doing something: "You are entitled by applicable regulations to jump…
Isn't the subject you, the verb "to be" (are) - and the reminder a describing clause? You run quickly. You are a good boy. You are entitled to receive praise. ? Ed: but "you qualify for pay" might be better active voice here? Ed2: I see jameshart made a similar point more eloquently about "adjectival phrase"
"You are smart" is a better analogue, clearly active voice. "You are hit" is another analogue, clearly passive.
I still believe that we can read the original sentence in the latter way - with "entitled" a verb used passively. I remain unsure as to whether we can read it the other way - with "entitled" as adjective.