This Employment Contract With Equity is designed for Australian companies looking to attract and retain key talent by offering both employment and ownership opportunities. It is particularly suitable for startups, scale-ups, and established companies implementing employee equity schemes. The document incorporates all essential elements required under Australian employment law while adding sophisticated equity participation provisions. It's commonly used when hiring senior executives, key technical personnel, or other valuable employees where equity forms part of the compensation package. The contract ensures compliance with the Fair Work Act 2009, Corporations Act 2001, and relevant tax legislation, while protecting the company's interests through appropriate confidentiality, IP, and restraint provisions. This type of agreement has become increasingly important in the Australian market as companies compete for top talent and seek to align employee interests with company growth objectives.
Employment Contract With Equity Template for Australia
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Key Requirements PROMPT example:
Employment Contract With Equity
"I need an Employment Contract with Equity for hiring a new CTO in our Sydney-based tech startup, including provisions for 2% equity vesting over 4 years with a one-year cliff, starting March 2025."
1. Parties: Identification of the employer and employee, including ABN/ACN for the employer and full legal name and address for the employee
2. Background: Context of the employment relationship and brief description of the business
3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpreting the contract
4. Employment Terms: Position, duties, reporting lines, and employment status (full-time, part-time, casual)
5. Commencement and Duration: Start date, probationary period, and term of employment
6. Remuneration and Benefits: Base salary, superannuation, bonus arrangements, and other benefits
7. Equity Participation: Details of share/option grants, vesting schedules, and conditions
8. Hours of Work: Standard working hours, overtime expectations, and flexible working arrangements
9. Leave Entitlements: Annual, personal, long service, and other leave entitlements
10. Confidentiality: Protection of company confidential information and trade secrets
11. Intellectual Property: Ownership and assignment of IP created during employment
12. Post-Employment Obligations: Non-compete, non-solicitation, and other restraints
13. Termination: Notice periods, grounds for termination, and post-termination obligations
14. General Provisions: Governing law, entire agreement, variation, and severability clauses
1. Performance and Review: Details of performance review process and KPIs - include for senior roles or performance-based compensation
2. International Travel: Terms for international work and travel - include if role requires overseas work
3. Commission Structure: Detailed commission calculations and terms - include for sales roles
4. Flexible Working Arrangements: Specific provisions for remote work or flexible arrangements - include if offering non-standard working arrangements
5. Garden Leave: Provisions for garden leave during notice period - include for senior executives
6. Change of Control: Impact of company ownership changes on employment/equity - include for senior roles or significant equity grants
7. Secondment: Terms for potential secondment to related entities - include if relevant to business structure
8. Sign-on Bonus: Terms and conditions of any sign-on bonus - include if offering signing incentives
1. Schedule 1 - Position Description: Detailed outline of role, responsibilities, and key performance indicators
2. Schedule 2 - Equity Terms: Detailed terms and conditions of the equity scheme, including vesting schedule and exercise terms
3. Schedule 3 - Bonus Scheme: Details of any performance bonus or incentive schemes
4. Schedule 4 - Company Policies: List of applicable company policies and procedures
5. Schedule 5 - Restraint Provisions: Detailed post-employment restraints with cascading clauses
6. Appendix A - Share Plan Rules: Full rules of the employee share scheme or option plan
7. Appendix B - Consent Forms: Required forms for privacy, IT policies, and other consents
8. Appendix C - Superannuation Information: Details of superannuation arrangements and choice of fund forms
Authors
Relevant legal definitions
Agreement
Applicable Laws
ASX
Board
Business
Business Day
Cause
Change of Control
Company
Company Group
Company IP
Competitors
Confidential Information
Corporations Act
Duties
Effective Date
Employee Share Plan
Employment
Exercise Price
Fair Work Act
Grant Date
Good Leaver
Bad Leaver
Intellectual Property Rights
Issue Price
Key Performance Indicators
Material Breach
Moral Rights
Notice Period
Options
Performance Rights
Personal Information
Position
Probationary Period
Related Body Corporate
Relevant Period
Restricted Activities
Restricted Area
Restricted Period
Restraint Period
Share
Share Plan Rules
Subsidiary
Superannuation Fund
Term
Termination Date
Total Remuneration Package
Unvested Options
Vested Options
Vesting Conditions
Vesting Date
Vesting Period
Vesting Schedule
Workplace Policies
Applicable Laws
ASX
Board
Business
Business Day
Cause
Change of Control
Company
Company Group
Company IP
Competitors
Confidential Information
Corporations Act
Duties
Effective Date
Employee Share Plan
Employment
Exercise Price
Fair Work Act
Grant Date
Good Leaver
Bad Leaver
Intellectual Property Rights
Issue Price
Key Performance Indicators
Material Breach
Moral Rights
Notice Period
Options
Performance Rights
Personal Information
Position
Probationary Period
Related Body Corporate
Relevant Period
Restricted Activities
Restricted Area
Restricted Period
Restraint Period
Share
Share Plan Rules
Subsidiary
Superannuation Fund
Term
Termination Date
Total Remuneration Package
Unvested Options
Vested Options
Vesting Conditions
Vesting Date
Vesting Period
Vesting Schedule
Workplace Policies
Clauses
Appointment
Term and Probation
Duties and Responsibilities
Location of Work
Hours of Work
Remuneration
Superannuation
Bonus
Equity Grant
Vesting
Share Plan Participation
Exercise of Options
Leave Entitlements
Expenses
Performance Review
Training
Health and Safety
Confidentiality
Intellectual Property
Moral Rights
Data Protection
Company Property
Conflicts of Interest
Outside Activities
Non-Competition
Non-Solicitation
Non-Dealing
Garden Leave
Termination
Summary Dismissal
Payment in Lieu of Notice
Post-Termination Obligations
Return of Property
Governing Law
Dispute Resolution
Entire Agreement
Variation
Severability
Notices
Force Majeure
Assignment
Good Leaver/Bad Leaver
Change of Control
Clawback
Tag-Along Rights
Drag-Along Rights
Share Restrictions
Warranties
Indemnification
Term and Probation
Duties and Responsibilities
Location of Work
Hours of Work
Remuneration
Superannuation
Bonus
Equity Grant
Vesting
Share Plan Participation
Exercise of Options
Leave Entitlements
Expenses
Performance Review
Training
Health and Safety
Confidentiality
Intellectual Property
Moral Rights
Data Protection
Company Property
Conflicts of Interest
Outside Activities
Non-Competition
Non-Solicitation
Non-Dealing
Garden Leave
Termination
Summary Dismissal
Payment in Lieu of Notice
Post-Termination Obligations
Return of Property
Governing Law
Dispute Resolution
Entire Agreement
Variation
Severability
Notices
Force Majeure
Assignment
Good Leaver/Bad Leaver
Change of Control
Clawback
Tag-Along Rights
Drag-Along Rights
Share Restrictions
Warranties
Indemnification
Relevant Industries
Technology
Professional Services
Financial Services
Healthcare
E-commerce
Software Development
Biotechnology
Consulting
Media and Entertainment
Renewable Energy
Manufacturing
Real Estate
Education Technology
Retail
Telecommunications
Relevant Teams
Executive Leadership
Engineering
Product Development
Sales
Marketing
Research & Development
Operations
Finance
Human Resources
Legal
Business Development
Data Science
Customer Success
Strategy
Design
Relevant Roles
Chief Executive Officer
Chief Technology Officer
Chief Financial Officer
Senior Software Engineer
Product Manager
Head of Sales
Chief Marketing Officer
Technical Lead
Senior Data Scientist
VP of Engineering
Chief Operating Officer
Head of Product
Principal Engineer
Senior Business Development Manager
Head of Strategy
Research Director
Chief Revenue Officer
Head of People & Culture
Solutions Architect
General Manager
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