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.
Lifetime Employment Contract Template for Australia
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Key Requirements PROMPT example:
Lifetime Employment Contract
"I need a Lifetime Employment Contract for a Senior Research Scientist position in our pharmaceutical company, starting March 1, 2025, with specific provisions for intellectual property rights and research publication freedoms."
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
Authors
Relevant legal definitions
Agreement
Commencement Date
Company
Confidential Information
Employee
Employment Period
Good Standing
Gross Misconduct
Intellectual Property Rights
Key Performance Indicators
Lifetime Employment
Material Breach
Notice Period
Performance Review
Permanent Incapacity
Position
Remuneration
Retirement Age
Serious Misconduct
Services
Superannuation
Term
Termination Date
Total Remuneration Package
Workplace
Work Hours
Cause
Change of Control
Constructive Dismissal
Continuous Service
Disability
Fitness for Duty
Force Majeure
Gardening Leave
Long Service Leave
Performance Standards
Professional Development
Redundancy
Related Bodies Corporate
Retirement Benefits
Share Rights
Statutory Entitlements
Succession Plan
Territory
Vesting Period
Workplace Policies
Commencement Date
Company
Confidential Information
Employee
Employment Period
Good Standing
Gross Misconduct
Intellectual Property Rights
Key Performance Indicators
Lifetime Employment
Material Breach
Notice Period
Performance Review
Permanent Incapacity
Position
Remuneration
Retirement Age
Serious Misconduct
Services
Superannuation
Term
Termination Date
Total Remuneration Package
Workplace
Work Hours
Cause
Change of Control
Constructive Dismissal
Continuous Service
Disability
Fitness for Duty
Force Majeure
Gardening Leave
Long Service Leave
Performance Standards
Professional Development
Redundancy
Related Bodies Corporate
Retirement Benefits
Share Rights
Statutory Entitlements
Succession Plan
Territory
Vesting Period
Workplace Policies
Clauses
Term and Duration
Scope of Employment
Role and Responsibilities
Remuneration
Performance Standards
Working Hours
Location of Work
Probationary Period
Leave Entitlements
Superannuation
Benefits
Career Progression
Professional Development
Performance Review
Confidentiality
Intellectual Property
Non-Competition
Non-Solicitation
Data Protection
Health and Safety
Code of Conduct
Disciplinary Procedures
Grievance Procedures
Termination
Redundancy
Force Majeure
Assignment and Succession
Variation
Governing Law
Dispute Resolution
Notices
Entire Agreement
Severability
Retirement Provisions
Death in Service
Permanent Disability
Garden Leave
Change of Control
Relocation
Bonus and Incentives
Share Options
Insurance Coverage
Expenses
Company Property
Moral Rights
Representation and Warranties
Integration
Survival
Amendment
Waiver
Scope of Employment
Role and Responsibilities
Remuneration
Performance Standards
Working Hours
Location of Work
Probationary Period
Leave Entitlements
Superannuation
Benefits
Career Progression
Professional Development
Performance Review
Confidentiality
Intellectual Property
Non-Competition
Non-Solicitation
Data Protection
Health and Safety
Code of Conduct
Disciplinary Procedures
Grievance Procedures
Termination
Redundancy
Force Majeure
Assignment and Succession
Variation
Governing Law
Dispute Resolution
Notices
Entire Agreement
Severability
Retirement Provisions
Death in Service
Permanent Disability
Garden Leave
Change of Control
Relocation
Bonus and Incentives
Share Options
Insurance Coverage
Expenses
Company Property
Moral Rights
Representation and Warranties
Integration
Survival
Amendment
Waiver
Relevant Industries
Technology
Research and Development
Education
Healthcare
Financial Services
Mining and Resources
Manufacturing
Professional Services
Scientific Research
Government and Public Sector
Relevant Teams
Executive Leadership
Research and Development
Legal Affairs
Human Resources
Finance
Operations
Technical Services
Academic Faculty
Scientific Research
Engineering
Product Development
Strategic Planning
Clinical Services
Relevant Roles
Chief Executive Officer
Chief Technical Officer
Senior Research Scientist
Principal Engineer
University Professor
Executive Director
Chief Medical Officer
Senior Legal Counsel
Head of Research
Chief Financial Officer
Distinguished Engineer
Principal Architect
Lead Scientific Advisor
Senior Operations Director
Master Craftsperson
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