Here’s a real form someone I know who makes more than minimum wage was recently asked by their employer to sign:
I understand that for calculation of overtime, my contractual hour rate with Employer is set at minimum wage, which is the wage that New Jersey Department of Labor sets, or the Federal minimum wage, whichever is higher. This means that if I clock hours in excess of 40 in a one week pay period, that my pay should be equal to/or greater than 40 hours at minimum wage and overtime at 1.5 times the minimum wage.
Am I missing something, or is this what us fancy lawyers call… illegal af?