Modern awards can contain terms relating to:
- base rates of pay, including piecework rates
- types of employment (e.g. full-time, part-time, casual)
- overtime and penalty rates
- work arrangements (e.g. rosters, variations to working hours)
- annualised wage or salary arrangements
- allowances (e.g. travel allowances)
- leave, leave loading and taking leave
- superannuation
- procedures for consultation, representation and dispute settlement
- outworkers
- an industry-specific redundancy scheme.
In addition, they must also have a flexibility term, which means employers and employees are able to negotiate changes to meet their individual needs relating to issues specified in the flexibility term.
Modern awards must also include a procedure for settling disputes about matters covered by the award or the National Employment Standards.