Common use of High income guarantee Clause in Contracts

High income guarantee. In accordance with section 330 of the Fair Work Act 2009 (Cth) (FW Act), this agreement constitutes an undertaking by the Company to pay the Executive a guarantee of annual earnings. As a result of this undertaking, if at any time the Executive’s employment becomes covered by a modern award, that modern award will not apply to the Executive for the period when the Executive’s TRC (less superannuation) exceeds the high income threshold.