'underreward' originates from the prefix 'under-' meaning 'below' or 'less than' and the word 'reward' from Old French 'reguard' meaning 'regard, recompense'.

'underreward' evolved from the combination of 'under-' and 'reward', which was used in Middle English as 'rewarden'.

Initially, it meant 'to give less than deserved', and this meaning has largely remained the same in modern usage.