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					                                           040a4570-ae82-41f8-bcb7-9c6e8c502a74.xls




     Market Conditions Summary - AUSTRALIA 2011               Market Conditions Summary - GERMANY
                                                          LAW


Recruitment and Contract
Probationary Period                                       3 to 6 months during which notice period is 1 week
Probationary Period
Extension                                                 Not possible to extend the probationary period over 6 months
                                                          Less that 1 year - 1 week
                                                          1 year to 3 years - 2 weeks
                                                          3 years to 5 years - 3 weeks
                                                          over 5 years - 4 weeks

                                                          Employees over 45 years of age and with minimum 2 years service -
Notice Period                                             additional week
Fixed Term Contract
Regulations


Retirement Age                                            Age 65

Employment Conditions


                                                          Maximum 40 hours per week, based on a working week from Monday to
Working Hours                                             Saturday

Vacation                                                  20 working days based on a 5-day working week (4 weeks vacation)
Special Leave                                             No legal directive
Birth of Child
Death of Spouse or child
Death of Father or Mother
Marriage
Marriage of a child
others
                                                          Statutory holidays: 10 - 12 days depending on state/region the company is
                                                          located in. Statutory Public Holidays in all states/regions: New Years' Day,
                                                          Good Friday, Easter Monday, Labour Day, Australia Day, ANZAC Day,
Public Holidays                                           Christmas Day, Boxing Day, Queens Birthday
                                                          6 weeks before and 8 weeks after confinement. Recently introduce Paid
                                                          Parental Leave Scheme provides payment to employee meeting certain
Maternity leave                                           criteria such as income and years in employment
Paternity and Parental                                    A mother and/or father is entitled to an unpaid paternity leave of up to 1 year.
Leave                                                     The employment relationship must be continued.
Unpaid leave




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                                            040a4570-ae82-41f8-bcb7-9c6e8c502a74.xls




      Market Conditions Summary - AUSTRALIA 2011               Market Conditions Summary - GERMANY
                                                           LAW

Remuneration
Bonus
Months of salary
payment                                                    As per Company discretion

Social Coverage


                                                           It is a legal requirement for the employer to continue 100% salary for the first
Payment of salary after                                    26 weeks of incapacity to work due to an accident or illness. The obligation to
accident or sickness                                       continue full salary payments commences with the first day of sickness.


Life insurance
Military Service
                                                           A minimum 9% of Ordinary Time Earnings (as defined) are paid to an
                                                           employee's nominated Superannuation account. This amount will move to
                                                           12% progressively from 2013 to 2020. Employees can make pre-tax and post
Social Insurance                                           tax contributions to the fund.
                                                           Early retirement is possible at any age however and Federal pensions will not
Early retirement                                           commence until age 65
                                                           The Australian Pension is means-tested and indexed annually. It is fully
Pension                                                    funded by the Federal Government
Principle of the pension                                   The Australian Pension is means-tested and indexed annually. It is fully
arrangements                                               funded by the Federal Government
Contributions
                                                           Contributions to the statutory accident insurance (workers compensation) are
                                                           paid 100% by the employer. Amount of contributions depend on risk involved
Accident Insurance                                         with the employees' jobs and gross annual payroll.
                                                           There is no requirement to provide Health Insurance in addition to the
Health Insurance                                           Government Medicare scheme
Long Term Care Insurance
                                                           There is no requirement to provide Disability Insurance in addition to the
Disability Insurance                                       Government Medicare scheme
Child Allowance                                            Child allowance is only paid to low income earners
SOCIAL INSURANCES
Unemployment
insurance
Unemployment
insurance (cont)
Professional and non-
professional accident
insurance



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     Market Conditions Summary - AUSTRALIA 2011              Market Conditions Summary - GERMANY
                                                          LAW

Loss of earnings
insurance for sickness                                    There is no requirement to provide Loss of Income Insurance
Health Insurance                                          Discretionary

Indemnities
Termination Indemnities                                   No legal requirement




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                                                                       040a4570-ae82-41f8-bcb7-9c6e8c502a74.xls




MARKET PRACTICE




3 to 6 months




Common practice for general staff is to follow the legal
minimum requirements. Common practice for key personnel,
executives, and management is a notice period of 3 to 6
months to the end of a calendar quarter.


Age 65 for both sexes. Employees can elect to carry on
working but may not be covered for accident/injury in the
workplace




Most industries adopt a 36 to 38-hour week for general staff
(basis: 5-day week). For executives a 40 hour-week is more
common, although the actual working time generally exceeds
40 hours.
20 working days based on a 5-day working week (4 weeks
vacation)
At least a day for each event would be normal
At least a day for each event would be normal
At least a day for each event would be normal
At least a day for each event would be normal
At least a day for each event would be normal
At least a day for each event would be normal



All follow statutory practice with various state holidays added
.e.g Melbourne Cup, Show Day


Most companies follow statutory practice.

Most companies follow statutory practice.




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                                                                       040a4570-ae82-41f8-bcb7-9c6e8c502a74.xls




MARKET PRACTICE




As per Company discretion




It is becoming increasing common for companies to provide
further salary continuation beyond the legal period in the form
of an insurance policy part funded by the employer. Conditions
of the policies vary significantly (usually tied to premiums)
Separate life insurance is uncommon in Australia If death in
service benefits are provided they are typically provided as
part of the Superannuation plan



Some companies choose to supplement the statutory 9% with
additional contributions.




Companies do not generally provide any additional health care
benefits.
Companies do not provide additional benefits


Companies do not provide additional benefits




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                                                                  040a4570-ae82-41f8-bcb7-9c6e8c502a74.xls




MARKET PRACTICE

Some employers offer self insured program supplemening
sickness benefit to 100% of income paid for 3 to 12 months
Discretionary



No legal requirement




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