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Before signing an employment agreement, it's crucial to understand key points highlighted by Simon from The Contract Company. First, pay attention to basic details like salary, work hours, and leave entitlements, including annual and carers leave. These are essential factors that should not be overlooked. Additionally, there are standard clauses in contracts that may seem unimportant but require careful consideration. The tutorial emphasizes the importance of being informed about these overlooked elements to ensure you fully understand the implications of the agreement before signing.