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Simon Obee from Employment Innovations introduces free downloadable employment contract templates for Australian businesses, available via a link. These templates cater to full-time, part-time, and casual employees. Obee emphasizes the importance of having an employment contract, which provides clarity on employment terms and conditions such as employee classification (permanent or casual), work hours, additional pay for overtime, notice periods for termination, and award coverage. Employers are required to provide written information about award coverage, making contracts essential for ensuring compliance and clarity in the employer-employee relationship.