The Lifetime Employment Contract is utilized when an organization seeks to secure the long-term services of a crucial employee through a permanent employment arrangement. This contract type is particularly relevant in Australian business contexts where retaining specialized talent is essential for organizational success. It provides comprehensive coverage of employment terms while ensuring compliance with Australian employment law, including the Fair Work Act 2009 and related legislation. The document addresses key aspects such as permanent tenure, career development, long-term benefits, and performance expectations, while also incorporating necessary protections for both employer and employee. This type of contract is typically reserved for senior executives, specialized experts, or key personnel whose long-term commitment is vital to the organization's success.
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1. Parties: Identification of the employer and employee, including full legal names and addresses
2. Background: Context of the lifetime employment arrangement, including the basis for offering permanent employment
3. Definitions: Key terms used throughout the contract, including specific definitions related to lifetime employment
4. Term of Employment: Specification of the lifetime nature of the employment and any conditions that could lead to termination
5. Role and Duties: Detailed description of the position, responsibilities, and reporting relationships
6. Location and Hours: Work location, standard hours, and flexibility arrangements
7. Remuneration: Base salary, benefits, annual review process, and compensation adjustment mechanisms
8. Superannuation: Superannuation arrangements and contributions
9. Leave Entitlements: All forms of leave including annual, personal, long service, and other statutory leave
10. Performance and Review: Performance expectations, review processes, and career development
11. Confidentiality: Protection of company information and trade secrets
12. Intellectual Property: Ownership and rights to work-related intellectual property
13. Termination: Limited circumstances where the lifetime contract may be terminated, such as gross misconduct
14. Post-Employment Obligations: Ongoing obligations after employment ends
15. General Provisions: Standard contract clauses including governing law, variation, and severability
1. Mobility Clause: Required if the role may involve relocation or travel between different locations
2. Share Options: Include when the employment package includes equity or share-based compensation
3. Commission Structure: Necessary for sales or performance-based roles with variable compensation
4. International Work: Required if the role involves international assignments or travel
5. Research and Publication: Important for academic or research-focused positions
6. Professional Development: Detailed provisions for ongoing training and development
7. Gardening Leave: Include if there may be circumstances requiring paid leave during notice periods
8. Career Progression: Include if specific career advancement paths are guaranteed
9. Retirement Transition: Include provisions for transition to retirement if relevant
1. Schedule 1 - Position Description: Detailed role specifications and responsibilities
2. Schedule 2 - Remuneration Package: Complete breakdown of salary, benefits, and other entitlements
3. Schedule 3 - Performance Metrics: Specific KPIs and performance measurement criteria
4. Schedule 4 - Company Policies: Key workplace policies that form part of the employment contract
5. Schedule 5 - Benefits Schedule: Detailed description of all benefits and entitlements
6. Appendix A - Code of Conduct: Company's code of conduct and ethical standards
7. Appendix B - Workplace Health and Safety: Health and safety obligations and procedures
8. Appendix C - Privacy Policy: Data protection and privacy requirements
9. Appendix D - IT and Communications Policy: Rules regarding use of company systems and communications
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