How is Basic monthly salary defined in a legal contract?
- Basic monthly salary means all remuneration that is paid monthly to an employee, which doesn't change on a monthly basis for the work completed under their contract of service. However, the term basic monthly salary does not include any additional benefits. Seen in 9 SEC filings
- Basic monthly salary means an employee's monthly earnings he/she receives from their employer which is in effect immediately prior to the first day when they are entitled to long term disability benefits. This term doesn't encompass bonuses, commissions, overtime pay, and extra compensation. Basic Monthly Salary is calculated as 1/12 of the Basic Annual Salary. Seen in 1 SEC filing
- Basic monthly salary means an employee's regular monthly salary which includes any retroactive pay adjustments, but does not include overtime or any other special payments. Seen in 1 SEC filing
- Basic monthly salary means all remuneration payable monthly to a foreign employee that does not fluctuate from one month to another. Seen in 1 SEC filing
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 basic monthly salary' 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
- Basic monthly salary means consistent remuneration paid monthly to an employee, excluding extra compensation.
Relevant Contract Type
Relevant Circumstances
- Hiring new employees
- Negotiating contract renewals
- Adjusting current employee contracts
- Establishing freelance agreements
Relevant Sectors
Genie Definition 2
- Basic monthly salary means 1/12 of the employee's Basic Annual Salary.
Relevant Contract Type
Relevant Circumstances
- Hiring sales employees
- Establishing commission structures
- Negotiating contract renewals
Relevant Sectors
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Basic monthly salary means consistent remuneration paid monthly to an employee, excluding extra compensation
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