How is daily wage defined in a legal contract?
- Daily wage means an employee's weekly wage divided by the number of days the employee is typically expected to work within that week. Seen in 14 SEC filings
- Daily wage means the compensation an employee receives as wages for services performed during a business day. This is calculated taking into account the total number of business days within a year. Seen in 3 SEC filings
- Daily wage means an employee's hourly rate multiplied by the employee's ordinary hours of work in a day. Seen in 1 SEC filing
Please note that specific conditions and terms such as specific numerical values and clauses were omitted for simplicity and universal applicability. Locations, organizations and individual identifiers were also omitted to abide by privacy and confidentiality standards.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of daily wage' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Daily wage means the compensation an employee receives divided by the number of days worked in a defined time period.
Relevant Contract Type
Relevant Circumstances
- Hiring of full-time employees
- Engaging services of consultants or freelancers
- Negotiating salary and benefits with contractors
- Structuring compensation plans
Relevant Sectors
Genie Definition 2
Daily wage means the hourly rate of an employee multiplied by ordinary work hours in a day.
Relevant Contract Type
Relevant Circumstances
- Hiring of part-time or hourly employees
- Timesheet validations
- Overtime calculations
Relevant Sectors
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Daily wage means the compensation an employee receives divided by the number of days worked in a defined time period.
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