reit.com.aureit.com.au/wp-content/uploads/REIT-retainer-absorbed... · Web viewThe Employer recognises for the purpose of the accrual of entitlements your continuous employment with

CONTRACT OF EMPLOYMENTRetainer absorbed into Commission

This contract of employment is made

BETWEEN

Employer’s Business Entity Name (ABN: xx xxx xxx xxx) trading as Trading Name (the Employer);

AND

Employee Name and Address (the Employee).

1. CONDITIONS OF CONTRACT OF EMPLOYMENT (COE)

This COE sets out the specific terms and conditions of employment which you agree will apply to you in your position with the Employer. In addition to this COE the Real Estate Industry Award 2010 (the award) and the National Employment Standards (NES) provide for the minimum terms and conditions of employment.

2. TYPE OF EMPLOYMENT and HOURS OF WORK

(a) Your employment will be on a Full time/Part time basis.(b) As a full time Employee you are engaged to work an average of 38 hours per week.

ORAs a part time Employee you are engaged to work less than an average of 38 hours per week and you will receive the same entitlements as a full time Employee on a proportionate basis.At commencement of this COE the agreed average ordinary hours per week are XX.

(c) Ordinary hours of work and rostering arrangements are outlined in Hours of Work and Related Matters - Part 5 of the Real Estate Industry Award 2010.I. Ordinary hours of work are averaged over an eight week period, and may be worked on

any day of the week provided that the Employee is at least entitled to 1 ½ days off each week.

II. Additional hours worked at the specific direction of the Employer will be paid at overtime rates or taken as time off instead, as outlined in the overtime clause of the award. PROVIDED that any over award payments or commissions paid may be used to offset overtime payments.

III. Hours undertaken without specific direction from the Employer at the initiative of the Employee in the performance of the contract will not receive any, or any additional remuneration or benefits.

Page 1 of 17REIT COE

Property Sales-Retainer ABSORBED into commission

3. TERM AND REPRESENTATIONS

(a) This COE commences on Commencement date of the Contract and will continue in force until terminated by either party in accordance with the Termination provisions of this COE.

(b) The Employer recognises for the purpose of the accrual of entitlements your continuous employment with the Employer immediately prior to the commencement of this COE, beginning commencement date of employment with the Employer. This is not to be confused with any previous employment with the employer where there was break in the continuity of employment (termination and re-employment) as that leave accrual will have been accounted for (paid out).

(c) On execution of this COE, both parties will be bound by the terms of this COE which supersedes any and all previous agreements, understandings and negotiations.

(d) The terms and conditions in this COE will apply to any future appointments subject to any changes agreed to and communicated in writing.

(e) This COE is offered on the condition that representations as to your competencies, achievements, business influence, client contacts and employment history are accurate. Inaccurate representations will result in the termination of employment without notice.

(f) You warrant that you are not subject to direct or indirect restrictions on your ability to perform the duties of your position.

(g) In entering into this contract, you have not relied on any representations, assurances, warranties, or understandings, except as provided in this contract.

4. POSITION DESCRIPTION

(a) Your position classification is:Real Estate Employee Level 2 (Representative) [delete levels that do not apply]Real Estate Employee Level 3 (Supervisory)Real Estate Employee Level 4 (In-Charge)

(b) The roles and responsibilities of this position will be described separately in an attached Position Description.

(c) The position description is not exhaustive.(d) The Employer may reasonably amend duties during your employment.(e) You may be required from time to time to reasonably and lawfully perform other duties not

contained in the Position Description as reasonably and lawfully assigned to you by your Manager.

(f) You may be required to perform duties from time to time for the Employer’s Related Entities(g) The Employer may direct you not to attend the workplace for duty.(h) You must, where requested, undertake medical assessments for your capacity to meet the

inherent requirements of the position.(i) The Employer may at their complete discretion implement a Performance Review process to

assess your performance. (j) Without limiting the generality of the above at a minimum you must achieve the Performance

Standards as per Schedule C. Failure to reach the minimum Performance Standards may result in the termination of your employment.

(k) You must hold and maintain a current motor vehicle drivers licence so that you can drive a vehicle on a public street in the State of Tasmania. As a drivers licence is a necessary inherent component of this position, where your licence is revoked or you do not hold a valid licence for any reason, this would likely result in termination of your employment.

5. PROBATION AND MINIMUM QUALIFYING EMPLOYMENT PERIOD



(a) Notwithstanding the termination provisions you shall be subject to a probationary period of ...... months [insert period of probation] in which time both parties will assess your performance, capacity and suitability for the role and employment with the Employer.

(b) During this time you will receive necessary advice, training and guidance to help you become familiar with, and competent in, performing the work you have been appointed to do.

(c) During the period of probation, either party may terminate your employment by providing 1 weeks’ notice of termination for any reason related to capacity or conduct whatsoever.

(d) The Employer shall complete a Probationary Review at any time prior to the conclusion of the Probationary Period and inform the Employee of the outcome of this review under the following terms:I. Where the Employer has determined that the Employee has satisfactorily completed

probation, employment will continue as per this contract still subject to the minimum employment period, or

II. Where the Employer, as a consequence of the Probationary Review, has determined that you have not for any reason related to conduct or capacity met their requirements, you will be given 1 weeks’ notice of termination of employment or payment in lieu thereof.

(e) The probationary period set out in this COE will not affect the application of the minimum employment period (6 months for Employer’s with 15 or more Employees and 12 months for a small business) under the Fair Work Act 2009.

6. RESPONSIBILITIES

You are required to:

(a) immediately and fully disclose in writing to the Employer any potential or actual conflicts of interest;

(b) diligently exercise delegations as may be determined by the Employer from time to time;(c) promote the best interests of the Employer at all times;(d) comply with all lawful Employer resolutions and adopted policies; and,(e) comply with any relevant administrative or legislative requirements and perform all duties

imposed by law.

7. REPORTING AND LOCATION OF EMPLOYMENT

(a) You will report directly to ..................................... [insert position title (not name)] or their designated representative (your manager)

(b) Your work will be based at and from our premises at ................................................................................ [insert physical address] or other such places as we reasonably direct.

(c) We may reasonably relocate you place of work or transfer you to any office of ours or related entity at any time and for any period without having to obtain your consent, provided that the relocation would generally be regarded as reasonable taking into consideration all related circumstances particularly the distance from your residence.

8. REMUNERATION

You will be entitled to a Retainer or Commission as set out in Schedule A, whichever is the higher, and subject to the following terms:

(a) Your Retainer is made up of the following components:



Minimum Weekly Wage rate as per the applicable classification contained in the Real Estate Industry Award 2010 as amended from time to time.

Mobile Phone Usage allowance as outlined in the Allowance section of this COE. Motor Vehicle Usage allowance as outlined in the Allowance section of this COE. PLUS Superannuation contribution as per the applicable legislation based on your ordinary time

earnings.

PROVIDED that the wage, allowances for all running and associated costs of mobile phone and vehicle usage may be offset/absorbed against any Commission, Bonus or Incentive payment entitlements. FURTHER that any Commission is inclusive of Employer Superannuation obligations to be paid on behalf of the Employee. The superannuation payment is represented in the commission rate and is to be offset by a proportionate decrease in Commission salary earnings paid as outlined in Schedule A.

(b) Any Commission payable is paid in satisfaction of, or in lieu of, the Retainer inclusive of any and all of the allowances identified in (a) above or named as a commission deduction in Schedule A and any other obligations that the Employer may have to pay you or other remuneration pursuant to the Real Estate Industry Award 2010.

(c) No entitlement to payment of Commission arises until after the Employer receives payment from the client / vendor in relation to the completed sales transaction.

(d) In respect of any Commission earned by you on or after the commencement of this contract, the Commission payment will be reduced by the amount of Superannuation required to be paid on that Commission by the Employer subject to the maximum contribution cap set out in the applicable Superannuation legislation. For the avoidance of doubt any Commission payment made in excess of the Minimum Weekly Wage, allowance and any incentive payment, will be treated as being inclusive of any Superannuation contribution that the Employer is required to make under applicable Superannuation legislation in respect of any such Commission or incentive payment.

(e) The Employer will pay you the difference between Commission earned and the Retainer in any pay period for which your Commission earnings do not equate to the Retainer.

(f) Where the Employer is required to pay you the difference between Commissions earned and the Retainer, the Employer shall absorb the amount paid against future Commission earnings.

(g) As far as possible, your Retainer or Commission is in satisfaction of all monetary entitlements (including, but not limited to, minimum wage, allowances, overtime and penalties) under any legislation, Award, Standards or industrial instrument that may apply to your employment. For the avoidance of doubt if the amount is ever found to be insufficient to cover these obligations the excess will be made up.

(h) Any Minimum Weekly Wage rate or Commission payments, or any other condition of employment, negotiated with you may be absorbed or offset against any minimum terms, conditions or standards set by the Fair Work Commission or its successors and/or applicable legislative authority, and/or applicable Industrial Instrument.

(i) Fringe benefits tax will be taken into account as part of your Retainer or Commission. (j) The Minimum Weekly Wage rate or Commission payments are payable in instalments each

week / fortnight / month [delete periods that do not apply] and will be paid into your designated bank account less any legislative deductions and other authorised deductions.

(k) Your payroll information may be communicated to you via email.(l) Superannuation is paid into your nominated complying superannuation fund, or where not

nominated the Default Fund Name of fund. Note-must be compliant with named fund under the award.



(m) In the event that you incur unauthorised expenses you expressly agree that the amount of unauthorised expenditure can be reasonably deducted from your Retainer or Commissions due and payable.

(n) You expressly authorise the Employer to make deductions, not otherwise mentioned in this Contract, from your Commissions either during employment or on termination of the employment, in respect of any monies owed to the Employer as per Schedule A.

(o) The Employer may in their absolute discretion review your Retainer or Commissions. No change will occur until you have been advised in writing.

(p) You will be entitled to payment of commission after your employment ends in the following circumstances: where the employment ends because of your serious and wilful misconduct and there was

a legally enforceable contract in place for the sale or lease of the property before the termination of your employment, or;

where the employment ends for other reasons and there was a legally enforceable contract in place for the sale or lease of the property prior to the expiration of the exclusive agency period. To clarify, no commission will be payable where the property has been listed for other than on an exclusive agency basis,

The commission payable in accordance with this clause shall be [include preferred commission arrangements].

PLEASE NOTE: Clause (p) is in accordance with the default Award provision but it can be varied. The Award allows for the contract of employment to specify the portion of commission that is payable on termination of employment which can be different to the standard commission arrangement. For assistance with this clause please contact the REIT.

9. ALLOWANCES AND RELATED ASPECTS

(a) Motor Vehicle MOTOR VEHICLE -Supplied

This position has access to a fully maintained motor vehicle for business use only, supplied by the Employer. During normal working hours the vehicle will be available for use by all of the Employer’s staff as authorised by the Employer

The vehicle shall not be used for any commercial or income producing activity or pursuits outside of the business interests of the Employer. The vehicle is supplied for the maximum term of this COE only and on the proviso the use of a vehicle is necessary. The vehicle use does not form part of any termination amount, including redundancy and the use of the vehicle terminates with the termination of employment of the Employee for any reason, without any penalty to the Employer. For the purpose of this clause, termination of employment means the last day at work, no unworked notice period, or accrued leave period is included for vehicle use at the cessation of employment.

The Employee must have a current drivers licence and use of the company vehicle will be terminated and no compensation will be due to the Employee where a licence is not valid or been revoked.



The Employee must comply with all laws and regulations that apply to a driver and any traffic offense (including parking fines and speeding fines) are the sole responsibility of the Employee. All accidents must be reported to the police and the Employer immediately (as soon as practical) that they occur. The Employee will be personally liable for any infringements that may occur as the result of any accidents/incidents or breach of traffic laws. The costs associated with any vehicle damage due to an accident or normal wear and tear will be the responsibility of the Employer through their insurers or otherwise, except in the case of proven negligence against the driver.

I. Employer Responsibilities

The Employer is responsible for all costs related to the supply of the motor vehicle inclusive of registration, insurances, service and maintenance, petrol, parking fees (although not including parking fines), and direct costs associated with cleaning the vehicle. Any and all fringe benefit tax incurred as a result of supplying the vehicle to the Employee is to be paid by the Employer.

II. Specific Maintenance Requirements

The Employee is responsible for:

Organising any servicing or maintenance requirements and ensuring the vehicle is maintained as fit for purpose

Washing, cleaning and day to day cleaning and maintaining of the vehicle, although any commercial cleaning costs including car wash fees are to be reimbursed by the Employer

Monitoring and checking of the oil, brake fluid, lights, tire wear/pressure, radiator and water coolant, on a regular basis

Keeping the vehicle locked and secure when not in use or left vacant

Recording and reporting any damage or traffic incident, no matter how minor

MOTOR VEHICLE –Not SuppliedMotor Vehicle Allowance inclusive of commission paid

Where the Employer requires the Employee to use the Employee’s own motor vehicle in the course of employment, the Employee will be reimbursed as set out below, provided that any commission paid over and above the minimum weekly wage rate is paid in satisfaction of, or in lieu of the motor vehicle allowance.

Option 1.

A weekly standing charge of $XX.xx plus a per kilometre charge of $00.xx for the distance travelled in performing the duties under this COE. The per kilometre charge will be recognised upon reasonable evidence of the distance travelled being presented to the Employer.

Option 2.



The Employer and the Employee expressly agree to a weekly lump sum of $XXX.xx in full compensation for the use of the Employee’s own motor vehicle.

NOTE* for options 1 and 2 the amounts will be dependent on the current rates contained in the Real Estate Industry Award, as well as the age (5 years of age) and the engine capacity of the vehicle.

Option 3.

The Employer will pay the Employee $0.78 cents per kilometre allowance for use of the Employee’s own vehicle in the course of employment to a maximum of 400 km per week.

Pro-rata allowance is payable for employees engaged on a part time basis. The allowance is not payable where the employee is on a period of either paid or unpaid leave, however the allowance is required to be paid on a pro-rata basis for time worked where an Employee works for part of a pay period and is absent on paid or unpaid leave for the remainder of the pay period.

All other terms and conditions relating to the motor vehicle allowance are as outlined in the Real Estate Industry Award 2010.

(b) Mobile Phone AllowanceMOBILE PHONE - Supplied

The Employee may have the use of a company mobile phone for business purposes. The Employee will be liable to pay for any calls and related expenses for any non-business use of the organisations’ mobile phone where it is deemed at the discretion of the Employer to be excessive personal use. Generally the Employee will be made aware of usage that is considered excessive, so that the Employee can modify behaviour before incurring penalty.

MOBILE PHONE – Not Supplied

Mobile Phone Allowance inclusive of commission paid

Where the Employer requires the Employee to use the Employee’s own mobile phone in the course of employment, the Employee will be reimbursed as set out below, provided that any commission paid over and above the minimum weekly wage rate is paid/offset in satisfaction of, or in lieu of the mobile phone allowance.

As per clause 18.6 of the Real Estate Industry award, the parties agree that the reasonable cost of the Employee using their personal mobile phone for business use will be reimbursed by the Employer by way of deduction from the net commission earned to the value of $100 per month. There will be no reimbursement deducted from commission for periods of paid or unpaid leave taken by the Employee. It is agreed by signing this contract of employment that phone costs in excess of the agreed allowance are considered in excess of business requirements and are therefore the responsibility of the Employee.

10. GENERAL EXPENSES



The Employer will reimburse to you all reasonable, pre-approved expenses incurred by you in the course of your duties with on the production of legitimate tax receipts, vouchers or proof of payment. Where reasonably practicable, pre-approved expenses will be paid in advance. This clause will not apply where an allowance for any such expense is provided by this COE or the award.

11. LEAVE

(a) All leave entitlements are as per the National Employment Standards (NES). A pro-rata entitlement applies to part time employment. The fulltime entitlements under this COE are:

I. 4 weeks Annual Leave per annum. II. 10 days Personal Leave per annum.

III. 2 days Compassionate leave per permissible occasion.IV. Long Service Leave in accordance with Long Service Leave Act 1976.V. Jury Service Leave in accordance with the NES.

VI. Community Service Leave in accordance with the NES.VII. You will be entitled to be absent for the following Public Holidays without loss of pay for any

days that you would have been ordinarily rostered to work.

(b) Public HolidaysThe following 11 public holidays as defined and maintained under the Tasmanian Statutory Holiday Act.New Years Day, Australia Day, Eight Hours Day, Good Friday, Easter Monday, ANZAC Day, Queens Birthday, Recreation Day (north of Oatlands Only), Regatta Day (south of Oatlands only) Show Day (as defined), Christmas Day, Boxing Day:

(c) Annual Leave(i) Payment for annual leave will be at the Employee’s Base (Minimum) Weekly Wage

rate. The Employer has the right to refuse to grant annual leave where other Employees have applied for similar or overlapping dates, the leave interferes with the running of the business or the authorisation of the leave would be otherwise contrary to the operational requirements of the business.

(ii) The Employee must take an amount of annual leave during a particular period if: the Employee is directed to do so because, during that period, the Employer shuts down the business, or any part of the business, in which the Employee works. In the event that the Employee has insufficient accrued annual leave for the period of the shut-down, the Employee may be granted annual leave in advance by the Employer.

(iii) The Employer may require the Employee to take any portion of annual leave that has accrued in excess of four weeks. In such circumstances the Employer must give the Employee at least four weeks’ notice of the requirement to take the excess period of accrued annual leave.

(d) Personal Leave

An Employee may take paid personal/carer’s leave if the leave is taken:

(i) because the Employee is not fit for work because of a personal illness, or personal injury, affecting the Employee; or

(ii) to provide care or support to a member of the Employee’s immediate family, or a member of the Employee’s household, who requires care or support because of:

I. A personal illness, or injury, of the member; orPage 8 of 17

REIT COE Property Sales-Retainer ABSORBED into commission

II. An unexpected emergency affecting the member.

The following are members of an Employee’s immediate family:I. A spouse, child, parent, grandparent, grandchild or sibling of the Employee;

orII. A child, parent, grandparent, grandchild or sibling of a spouse of the

Employee.Conditions(i) The Employer is not required to pay personal/carer’s leave entitlements for any

period during which the Employee is absent from work because of a personal illness or injury for which the Employee receives workers compensation payments.

(ii) Employees should notify the Employer by telephone or arrange for the Employer to be notified as soon as is practical of their inability to attend for work and the expected length of their absence. Wherever practicable, such notification should be provided before the commencement of their shift so as to enable the Employer to make alternative staffing arrangements.

(iii) An Employee will prove to the satisfaction of a reasonable person that they were unable, on account of such illness or injury, to attend for duty on that day or days on which leave is claimed. A medical certificate from a registered health practitioner or a statutory declaration will be acceptable evidence.

12. POLICIES

(a) The Employer has developed policies and procedures to assist it in the effective management of its business. These policies and procedures are not intended to be legally binding on the Employer and are not incorporated into your COE.

(b) The Employer may reasonably modify, replace or withdraw any of its policies or procedures at any time and reserves the right to depart from any of the policies or procedures in individual cases.

(c) You must familiarise yourself with all of the Employer's policies. Unless directed otherwise, you are expected to perform your duties in conformity with the Employer's policies, as varied from time to time.

13. CODE OF CONDUCT

You agree to be bound by the Employer’s Code of Conduct as per Schedule B.

14. NOTICE AND TERMINATION

(a) Your employment may be terminated with Notice for any valid reason.(b) You may resign from your employment with Notice for any valid reason.(c) Notice is in accordance with the Fair Work Act 2009 (NES) and in line with the following table.

Employee's period of continuous service with the Employer Period of noticeNot more than 1 year 1 week

More than 1 year but not more than 3 years 2 weeks

More than 3 years but not more than 5 years 3 weeks

More than 5 years 4 weeks



(d) The required period of notice for the Employer is to be increased by one (1) week if the Employee is over forty five (45) years old; and has completed at least two (2) years of continuous service with the Employer. The Employer may make payment in lieu of the notice period.

(e) The required period of notice for the Employee is one week. In the event that the required notice is not given, the Employer may withhold from any monies due to the Employee on termination an amount not exceeding the Employee’s full rate of pay in respect of the period of notice required by this clause, less any period of notice actually served by the Employee.

(f) The parties may agree to a reduced period of notice.(g) If your position is made redundant you are entitled to the Redundancy Pay in accordance with

the NES. Provided that no redundancy pay is payable if the Employer is not required to pay Redundancy/ Severance pay under the applicable legislation for any reason, including but not restricted to fitting the definition of a small business Employer.

(h) You may be dismissed from employment without notice for conduct that justifies summary dismissal including serious misconduct, breach of the Code of Conduct or any other matter deemed to be misconduct at Common Law.

(i) You may be dismissed from employment without notice if you become Bankrupt, or are convicted of any Criminal offence or commit a Civil wrong which in the reasonable opinion of the Employer brings the Employer into disrepute.

(j) The Employer at their complete discretion may during the Notice period to require you to take leave from the office on full pay, cease dealing with clients, business and staff, and remain available to assist the Employer with a handover of work to incoming management.

(k) Upon termination of your employment without any further demand, you must deliver to your Manager:

(i) documents in your possession or control relating in any way to any trade secret. and/or intellectual property and/or confidential information, or the business or affairs of the Employer or any member of the Employer’s related entity. You are not entitled to retain a copy of documents, and

(ii) any property of the Employer or related entity. (l) Upon the termination of your employment with the Employer, you must not represent yourself

as being in any way connected with or interested in the business of the Employer.(m) You expressly agree that the Employer is entitled to retain or offset any remuneration, wage

component, accrued entitlements or other benefit owed to you against any remuneration, wage component, accrued entitlements or other benefit you owe the Employer, or until you have returned company property in a satisfactory condition.

(n) All payments made as a result of termination of the contract of employment will occur on the next nominated pay day. No payment will be made on the date of termination, unless it is the nominated pay day.

(o) If your employment is terminated for any reason, you must resign all directorships, offices and positions that you may hold in relation to the Employer, its Related Entities or any other Company in which you hold office in connection with your employment and do all things and execute all documents necessary to give effect to these resignations

15. RESTRAINT

(a) You will not, after termination of the employment, during the restraint period identified below:



(i) Engage, or prepare to engage (whether alone or jointly, or as a principal partner, agent, director, servant or consultant) in, any business or activity that is the same or similar to that part or parts of the business carried on by you for the Employer

(ii) solicit, canvass, approach or accept any approach from any person who was at any time during your employment a client of the Employer in that part or parts of the business you performed with a view to obtaining the custom of that person in a business that is the same or similar to the business conducted by the Employer;

(iii) interfere with the relationship between the Employer and its customers, Employees or suppliers; or

(iv) induce or assist in the inducement of any Employee of the Employer to leave their employment.

Restraint period and area is:

I. 6 months or if unreasonableII. 3 months or if unreasonable

III. 1 month.

I. Southern Tasmania or if unreasonableII. Greater Hobart or if unreasonable

III. Eastern Shore Area.

(b) You may be required to provide evidence confirming adherence to this clause to the satisfaction of the Employer.

(c) Each restriction specified is in the circumstances reasonable and necessary to protect the Employer’s legitimate interests.

(d) The restrictions are separate, distinct and several, so that the unenforceability of any restriction does not affect the enforceability of the other restrictions

(e) If the restrictions are void as deemed unreasonable for the protection of the Employer’s interests; and/ or would be valid if part of the wording was deleted or the period or area was reduced the restrictions will apply with the modifications necessary to make them effective

16. DISPUTE SETTLEMENT PROCEDURE

(a) The Dispute Resolution clause of the Real Estate Award 2010 applies to a dispute under this COE.

17. BUSINESS PROPERTY

(a) You must take good care when using business or client property and to ensure that it is properly and responsibly maintained.

(b) You must not allow the property/equipment to be used by anyone not accredited or trained or otherwise permitted to do so.

(c) You are not permitted to use business property/equipment for non-work purposes.(d) You must return all business property of the Employer upon the termination of your

employment.

18. CONFIDENTIALITY OF INFORMATION



(a) It is a condition of your contract of employment that you shall neither during or after the period of your employment with the Employer, except in the proper course of your duties or as permitted by the Employer or as required by law, divulge to any person or use any trade secret and/or confidential information and/or intellectual property concerning:

i. The business or financial arrangements or position of the Employer; ii. Any of the dealings, transactions or affairs of any member of the Employer;iii. The systems, practices, procedures, know-how and structures of the Employer and

any member of the Employer.iv. The Employer client details, including names, addresses, ages and histories or any

information collected by the Employer pertaining to prospective clients, property management or body corporates.

v. The Employer’s client referral providers details, including names, addresses, ages and histories or any information collected by the Employer pertaining to the referral of clients to the Employer.

vi. Price lists or information regarding prices for services offered by the Employer.vii. Manuals, policy documents, directives, office memoranda, handbooks, publications

and similar items, whether on paper or on electronic storage devices that have been purchased or produced for the benefit or by the Employer.

viii. Client listsix. Tendersx. Business reportsxi. Letters xii. Memoranda xiii. Reportsxiv. Books of accountxv. Company accountsxvi. Data print-outs xvii. Magnetic tapes, other documents and recordings xviii. Discoveries xix. Inventions or the like of any of the above

(b) You must also, during the period of your employment with the Employer, use your best endeavours to prevent the publication, use or disclosure of any such trade secret and/or intellectual property and/or confidential information.

19. SEVERABILITY

Part or all of any Item of this COE that is illegal or unenforceable will be severed from this COE and the remaining provisions of the COE continue in force.

20. WAIVER

The failure of either party at any time to insist on performance of any provision of this COE is not a waiver of its right at any later time to insist on performance of that or any other provision of this COE.

21. GOVERNING LAW

This COE is governed the Fair Work Act 2009 and by the law applicable in Tasmania.

22. INDEPENDENT ADVICEPage 12 of 17

REIT COE Property Sales-Retainer ABSORBED into commission

Prior to entering into this contract you have:

(a) had a reasonable opportunity to obtain independent legal advice regarding the contents of this contract; and

(b) had sufficient time to review the contents of this contract and understands its effect; and(c) not been placed under any undue pressure to enter into this contract.



23. SIGNATORIES

Signature on this COE by the Employer and Employee hereby denotes acceptance by both parties of the terms and conditions contained within it.

SIGNEDfor and on behalf of the Employer

Employer Signature

Date:

SIGNEDfor and on behalf of the Employee:

Employee Signature

Date:



SCHEDULE A

Commission

% of gross commission received by the Employer(i) List and Sell %(ii) List only %(iii) Sell only %

Commission is inclusive of Employer Superannuation obligations to be paid on behalf of the ordinary time earnings of the Employee. The superannuation payment is absorb and is to be offset by a proportionate decrease in commission earnings.

The appropriate superannuation legislation amount is divided into 100 to determine the amounts provided to offset the superannuation payment and identify the commission earning which is then paid as wages/salary inclusive of the authorised deductions identified

Example: Where Superannuation is 9.5%

Then: 100 divided by 109.5 =0.913242

The commission earned is then multiplied by 0.913242 to obtain the wage component. The wage component multiplied by the applicable superannuation percentage (EG: 9.5%) identifies the super to be paid.

Authorised Deductions from Commission

TABLE OF DEUCTIONS FOR WHICH COMMISSION IS INCLUSIVE OF.

Item AmountBase (minimum) Wage As per the applicable classification of the Real Estate

Industry Award 2010Motor Vehicle Allowance As identified in the allowance section of this COEMobile Phone Allowance As identified in the allowance section of this COESuperannuation As per legislation at the time



SCHEDULE B

Code of conduct

1. The Employee must immediately and fully disclose in writing to the Employer any potential or actual conflicts of interest.

2. The Employee must not undertake any activity (whether paid or unpaid) which may compromise the Employee's ability to properly and objectively perform his duties and responsibilities to the Employer.

3. Without limiting the generality of the above, the Employee must not engage in any of the following conduct:

(a) Participate in any dishonest or unfair conduct in any business transaction or other dealing with the Employer's clients or customers, contractors or Employees;

(b) Disparage the Employer or its business;

(c) Assist or participate in the business of a competitor of the Employer;

(d) Divert clients, customers or business away from the Employer;

(e) Undertake during working hours a business or work which is unrelated to that of the Employer;

(f) Undertake outside of working hours a business or work which competes with the business of the Employer or otherwise gives rise to a conflict of interest;

(g) Provide work, business or any other benefit on behalf of the Employer to a business in which the Employee or the Employee's immediate or extended family, friends, partners or associates have a significant financial or personal interest;

(h) Encourage Employees or contractors of the Employer to leave the Employer;

(i) Create discontent amongst Employees or contractors of the Employer;

(j) Accept a benefit from someone other than the Employer, such as a bribe, in return for an act or forbearance in relation to the Employer's business;

(k) Accept a benefit from a person that does business or competes with the Employer;

(l) Earn or attempt to earn a secret profit or commission from the Employer's business; or

(m) Engage in insider trading.

4. The above restrictions set out in this Code will not apply to any of the following:

(a) A lawful activity which the Employer has approved in writing after receiving full details of the activity from the Employee;

(b) Reasonable involvement in any professional or educational activity or body; or

(c) Trading in any shares or stock of any company which is listed on a recognised stock exchange for the purpose of investment only, provided that such shares or stock do not exceed 5% of the company's issued capital.

5. The Employee must report to the Employer any actual or suspected breaches of this Code by any other Employee to their Manager.

6. Breaches of this Code may lead to termination without notice.



SCHEDULE C

Minimum Performance Standard

Period Average Commission Per Month(i) Probation $ …(ii) Six (6) months following probation $ …(iii) Twelve (12) months and thereafter $ …

All periods of leave shall be excluded for the purpose of determining whether you have achieved the minimum performance target.



Documents

reit.com.aureit.com.au/wp-content/uploads/REIT-retainer-absorbed... · Web viewThe Employer recognises for the purpose of the accrual of entitlements your continuous employment with