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.
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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
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