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The Employee Partnership Agreement is designed for use in Australian business contexts where organizations wish to offer both partnership and employment status to key individuals. This hybrid arrangement is common in professional services firms, where partners maintain employment status for regulatory, tax, or operational purposes. The document addresses the complexities of dual status under Australian law, including compliance with the Fair Work Act 2009 for employment aspects and the Partnership Act 1892 for partnership matters. It includes comprehensive provisions for partnership rights, profit sharing, employment duties, governance participation, and exit mechanisms. This agreement type is particularly valuable for firms transitioning senior employees to partnership status or establishing new partner relationships while maintaining employment benefits and protections.

1. Parties: Identifies and defines all parties to the agreement, including the partnership entity and the employee-partner

2. Background: Outlines the context of the agreement, including the partnership's business and the purpose of bringing in the employee as a partner

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Partnership Terms: Establishes the fundamental terms of the partnership relationship, including partnership interest and status

5. Employment Terms: Details the employment relationship, including role, responsibilities, and reporting structure

6. Remuneration and Benefits: Specifies salary, profit share, benefits, and other financial entitlements

7. Duties and Obligations: Outlines the employee-partner's duties, responsibilities, and expected contribution to the partnership

8. Governance and Decision Making: Details voting rights and involvement in partnership decisions

9. Intellectual Property: Addresses ownership and rights to intellectual property created during the relationship

10. Confidentiality: Defines confidential information and obligations regarding its protection

11. Non-Competition and Non-Solicitation: Specifies restrictions on competitive activities and client/employee solicitation

12. Termination: Details circumstances and procedures for terminating the agreement

13. Exit Provisions: Specifies processes and terms for the employee-partner's exit from the partnership

14. General Provisions: Contains standard legal clauses including governing law, notices, and amendment procedures