Senior Executive Employment Contracts
Executive Employment Contracts are generally in writing and can relate to significant work responsibilities and remuneration including large sums for commission or bonus payments. Care must be given to the terms used and agreed at the point of engagement together with any side or collateral arrangements or contracts. Attention should also be given as to whether a Modern Award or the National Employment Standards of the Fair Work Act apply even to a senior employee. Advice at the point of engagement can avoid problems later either for the executive or the employer. Questions can arise during the subsistence of a contract whether a change of duties, principal place of business or enhanced remuneration amount to a variation of the original contract or an entirely new contract . With respect to bonus payments are they discretionary or contractual?
These are just some of the issues which can arise however there are many more.
