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Employment Term Sheet Template for Australia

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Key Requirements PROMPT example:

Employment Term Sheet

"I need an Employment Term Sheet for a Chief Technology Officer position in a fintech startup, including equity compensation and performance bonuses, with the role starting March 1, 2025."

Document background
The Employment Term Sheet is a crucial preliminary document used in Australian employment contexts to establish clear expectations and basic terms of employment before proceeding with a comprehensive employment contract. It is typically used during the final stages of recruitment when an employer and potential employee have agreed in principle to an employment relationship but need to document the key terms. The document includes essential information such as role details, compensation, working arrangements, and basic obligations while ensuring compliance with Australian employment legislation, particularly the Fair Work Act 2009 and National Employment Standards. This term sheet serves as a foundation for the subsequent employment contract and helps prevent misunderstandings about fundamental employment terms during the hiring process.
Suggested Sections

1. Parties: Identification of the employer and employee, including full legal names and addresses

2. Background: Brief context about the employment offer and its circumstances

3. Definitions: Key terms used throughout the term sheet

4. Position and Duties: Job title, role description, and key responsibilities

5. Commencement and Term: Start date and nature of employment (permanent/fixed-term)

6. Probation Period: Length and terms of the probationary period

7. Location and Hours: Primary work location and standard working hours

8. Remuneration: Base salary, superannuation, and payment arrangements

9. Leave Entitlements: Annual leave, personal/carer's leave, and other statutory leave entitlements

10. Termination: Notice periods and termination provisions

11. Confidentiality: Basic confidentiality obligations

12. Governing Law: Specification of Australian law as governing law

Optional Sections

1. Commission/Bonus Structure: Details of variable compensation, used when role includes performance-based pay

2. Equity Participation: Share or option schemes, included for senior roles or startups

3. Remote Work Provisions: Specific arrangements for remote or hybrid working, if applicable

4. Post-Employment Restrictions: Non-compete and non-solicitation clauses, typically for senior or sales roles

5. Travel Requirements: Details of required travel and related compensation, if role involves regular travel

6. KPIs and Performance Metrics: Specific performance expectations, used for senior roles or sales positions

7. Industry-Specific Requirements: Special conditions related to specific industries (e.g., financial services, healthcare)

8. Flexible Working Arrangements: Specific flexible work provisions beyond standard arrangements

Suggested Schedules

1. Schedule 1 - Position Description: Detailed description of the role, responsibilities, and reporting relationships

2. Schedule 2 - Remuneration Details: Comprehensive breakdown of salary package, including benefits and allowances

3. Schedule 3 - Company Policies: List of key company policies that form part of the employment terms

4. Schedule 4 - Bonus/Commission Structure: Detailed explanation of variable compensation calculations and terms

5. Appendix A - Required Qualifications: List of mandatory qualifications, certifications, or licenses for the role

6. Appendix B - Equipment and Resources: Details of company-provided equipment and resources

Authors

Alex Denne

Head of Growth (Open Source Law) @ 红杏直播 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




















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Relevant Industries

Financial Services

Technology

Healthcare

Professional Services

Manufacturing

Retail

Education

Mining

Construction

Telecommunications

Media and Entertainment

Real Estate

Hospitality

Transportation and Logistics

Energy and Utilities

Relevant Teams

Human Resources

Legal

Finance

Operations

Information Technology

Sales

Marketing

Research and Development

Customer Service

Product Development

Administration

Strategy

Compliance

Risk Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Chief Operating Officer

General Manager

Department Manager

Senior Manager

Project Manager

Sales Manager

Account Executive

Software Developer

Business Analyst

Marketing Manager

HR Manager

Financial Analyst

Operations Manager

Research Scientist

Legal Counsel

Product Manager

Customer Service Manager

Technical Lead

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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