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Simon Obee from Employment Innovations introduces free downloadable employment contract templates for businesses in Australia. These templates cover full-time, part-time, and casual employees, and can be accessed via a link. The importance of having an employment contract is emphasized, as it clarifies the terms and conditions of employment, such as employee status (permanent or casual), work hours, overtime pay, notice periods for termination, and award coverage classifications. Obee notes that employers must provide written information regarding award coverage, highlighting the necessity of outlining these details in an employment contract to ensure clarity and compliance.