How is Day's Pay defined in a legal contract?
- Day's Pay means the current pay rate for the job role the employee is regularly performing, calculated per day. Seen in 5 SEC filings
- Day's Pay means an employee’s annual salary in effect on the date the Employee leaves the service, divided by 260. A “week's pay” means a “day's pay” multiplied by five. Seen in 3 SEC filings
- Day's Pay means a laid off member’s straight time hourly classified rate of pay, excluding all premium pay, times eight normal daily hours. Seen in 2 SEC filings
- Day's Pay means the pay for one day calculated by multiplying the current equivalent full-time daily rate of the job role in which the employee is regularly employed by the average percentage of time regularly worked by the employee during the preceding ten-year period of employment. Seen in 2 SEC filings
- Day's Pay means 1/22 of an employee's monthly salary. Seen in 1 SEC filing
- Day's Pay means one-fifth of the Executive’s weekly salary. Seen in 1 SEC filing
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
- Day's Pay means the daily earnings calculated from a standard work period [weekly, monthly, or annually].
Relevant Contract Types
Relevant Circumstances
- Calculation of compensation for partial days during a payroll period
- Comprehending severance or termination payouts
- Establishing a basis for overtime pay calculations
Relevant Sectors
Genie Definition 2
- Day's Pay means the daily earnings at prevailing rates for an individual's job role excluding any additional premiums.
Relevant Contract Types
Relevant Circumstances
- Payment for occasional consultancy services
- Determination of fair payment for part-time or temporary employees
Relevant Sectors
Genie Definition 3
- Day's Pay means 1/22 of the [Employee]'s monthly salary.
Relevant Contract Type
Relevant Circumstances
- Calculation of daily earnings for salaried staff
Relevant Sectors
Genie Definition 4
- Day's Pay means one-fifth of the [Executive]’s weekly salary.
Relevant Contract Type
Relevant Circumstances
- Determining executive level daily compensation
Relevant Sectors
Are you creating, reviewing or negotiating a document?
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Day's Pay means the daily earnings calculated from a standard work period [weekly, monthly, or annually]
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