All compensation (except statutory exclusions) paid by or on behalf
of an employer to an employee as remuneration for employment must be
included in the regular rate, whether paid in the form of cash or
otherwise. Prizes are therefore included in the regular rate if they are
paid to an employee as remuneration for employment. If therefore it is
asserted that a particular prize is not to be included in the regular
rate, it must be shown either that the prize was not paid to the
employee for employment, or that it is not a thing of value which is
part of wages.