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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."
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
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
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
Financial Services
Technology
Healthcare
Professional Services
Manufacturing
Retail
Education
Mining
Construction
Telecommunications
Media and Entertainment
Real Estate
Hospitality
Transportation and Logistics
Energy and Utilities
Human Resources
Legal
Finance
Operations
Information Technology
Sales
Marketing
Research and Development
Customer Service
Product Development
Administration
Strategy
Compliance
Risk Management
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
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