Common use of PROTECTION OF EMPLOYEE ENTITLEMENTS Clause in Contracts

PROTECTION OF EMPLOYEE ENTITLEMENTS. The Company acknowledges the concerns of employees regarding the protection and preservation of accrued employee entitlements and fully supports the Federal Government’s on-going maintenance and enhancement of the General Employee Entitlements and Redundancy Scheme (XXXXX). The Company is a part of a publicly listed corporation that is required by law to publish an audited annual report, which outlines its financial position, including accruals for Employees’ statutory entitlements. The Company and its Directors are fully aware of the legal requirements imposed by the Corporations Act and the severe penalties that apply for any breach of the provisions of that Act. The Company has and will continue to ensure that it makes sufficient provision to meet its obligations regarding accrued employee entitlements. In all previous instances where the Company has implemented business closures and/or retrenchments, the Company has without exception, ensured that all Employees receive 100% of their accrued entitlements. In the event of the closure and or sale of part or all of the Company’s Plant, the Company guarantees that it has sufficient provision to cover and pay all relevant Employee entitlements. As part of ensuring that Employees remain informed of the Company’s financial position, the Company commits to the on-going provision of summarized financial performance information relevant to the Company as a whole (in line with the reporting requirements of both the Australian and New Zealand Stock Exchanges), via meetings with the Employee Consultative Committee.

PROTECTION OF EMPLOYEE ENTITLEMENTS. The Company Laminex Group (the Company) acknowledges the concerns of employees regarding the protection and preservation of accrued employee entitlements and fully supports the Federal Government’s on-going maintenance and enhancement of the General Employee Entitlements and Redundancy Scheme (XXXXX). The Company is a part of a publicly listed corporation that is required by law to publish an audited annual report, which outlines its financial position, including accruals for Employees’ employee’s statutory entitlements. The Company and its Directors are fully aware of the legal requirements imposed by the Corporations Act and the severe penalties that apply for any breach of the provisions of that Act. The Company has and will continue to ensure that it makes sufficient provision to meet its obligations regarding accrued employee entitlements. In all previous instances where the Company has implemented business closures and/or retrenchments, the Company has without exception, ensured that all Employees employees receive 100% of their accrued entitlements. entitlements In the event of the closure and or and/or sale of part or all of the Companycompany’s Cheltenham Plant, the Company guarantees will guarantee that it has sufficient provision to cover and pay all relevant Employee employee entitlements. As part of ensuring that Employees employees remain informed of the Company’s financial position, the Company commits to the on-going provision of summarized summarised financial performance information relevant to the Company company as a whole (in line with the reporting requirements of both the Australian and New Zealand Stock Exchanges)) including information relating to accruals for employee entitlements, via twice a year meetings with the Employee Consultative Committeeemployees.

PROTECTION OF EMPLOYEE ENTITLEMENTS. The Company acknowledges the concerns of employees regarding the protection and preservation of accrued employee entitlements and fully supports the Federal Government’s on-going maintenance and enhancement of the General Employee Entitlements and Redundancy Scheme (XXXXX). The Company is a part of a publicly listed corporation that is required by law to publish an audited annual report, which outlines its financial position, including accruals for Employeesemployees’ statutory entitlements. The Company and its Directors are is fully aware of the legal requirements imposed by the Corporations Act and the severe penalties that apply for any breach of the provisions of that Act. The Company has and will continue to ensure that it makes sufficient provision to meet its obligations regarding accrued employee entitlements. In all previous instances where the Company company has implemented business closures and/or retrenchments, the Company has without exception, ensured that all Employees employees receive 100% of their accrued entitlements. In the event of the closure and or sale of part or all of the Company’s Plantbusiness, the Company guarantees that it has sufficient provision to cover and pay all relevant Employee employee entitlements. As part of ensuring that Employees employees remain informed of the Company’s financial position, the Company commits to the on-going provision of summarized financial performance information relevant to the Company as a whole (in line with the reporting requirements of both the Australian and New Zealand Stock Exchanges), via meetings with the Employee Consultative Committee.

PROTECTION OF EMPLOYEE ENTITLEMENTS. The Company acknowledges the concerns of employees regarding the protection and preservation of accrued employee entitlements and fully supports the Federal Government’s on-going maintenance and enhancement of the General Employee Entitlements and Redundancy Scheme (XXXXX). The Company is a part of a publicly listed corporation that is required by law to publish an audited annual report, which outlines its financial position, including accruals for Employeesemployees’ statutory entitlements. The Company and its Directors are is fully aware of the legal requirements imposed by the Corporations Act and the severe penalties that apply for any breach of the provisions of that Act. The Company has and will continue to ensure that it makes sufficient provision to meet its obligations regarding accrued employee entitlements. In all previous instances where the Company has implemented business closures and/or retrenchments, the Company has without exception, ensured that all Employees employees receive 100% of their accrued entitlements. In the event of the closure and or sale of part or all of the Company’s Plantbusiness, the Company guarantees that it has sufficient provision to cover and pay all relevant Employee employee entitlements. As part of ensuring that Employees employees remain informed of the Company’s financial position, the Company commits to the on-going provision of summarized financial performance information relevant to the Company as a whole (in line with the reporting requirements of both the Australian and New Zealand Stock Exchanges), via meetings with the Employee Consultative Committee.