Hello! I received an offer from a school and I was wondering if those who are more familiar with contracts could have a look at the it and tell me what you think about it. Are there any red flags? Is anything of importance missing? Thank you in advance!
Party A-Employer
Party B-Employee
1) The period of this contract will be starting from _____ 2019 and will be terminated ______ 2020.
2) Party B must inform party A of whether to renew the contract or not two months prior to the end of the contract, and the contract may be renewed at that time by mutual agreement.
3) Internship: The employee will have 3 months internship period. In this period if the employee’s working performance is not improved and suitable for the institute (3 warning letters given), the institute has the right to release the employee (in this internship period the payment is the same amount of salary and in this case the employee can get the release letter upon agreement). If the employee doesn’t comply with the contract term he signs or doesn’t commit to the school’s policy after receiving 3 notices the school has the right to send the teacher to other schools with the release letter during the 1 year contract.
4) The employee will only be provided a one-way flight ticket from Korea to Employee’s hometown.
Salary
1) Party A will pay a monthly salary of 2,100,000 won to Party B.
2) A tax of about 3.3 % will be paid to the Korean Government tax.
3) Over time rate for each hour will be 15,000 won.
4) On completion of 1 year contract, Party B will receive the amount of one month salary as a severance pay. (Only when the provided housing has been emptied clearly.)
5) The payment will be paid according to the school’s payment date, 1st of every month.
Working Hours
Party B will work 40 hours from Monday to Friday (1:40pm~9:40pm) (N.B.: class preparation time is not included) Woking hour might change depending on school schedule
3) Classes and teaching will be scheduled in accordance with the needs of Party A.
Accommodation
1) Party A will provide a 1 single room house and will take responsibility for normal maintenance (property tax, repairs, etc.). Party A will provide a bed, gas stove and refrigerator.
2) Party B’s accommodation is a 1 single room apartment.
3) The tenant, including party B, will be responsible for paying utilities, such as for the gas, electricity, water bills, etc.
Holidays
The total holidays are 5 days. (Business Days-5 days in summer vacation scheduled according to the school’s curriculum)
Sick Leave
The employee can have 3 days of paid sick leave (but the employee must submit the diagnosis from the hospital when he gets back to work.)
Employee's paid sick leave during the Term of Employment shall not exceed three (3) calendar days. If Employee requires a sick leave for more than three (3) calendar days, Employee may take a further sick leave without pay.
Insurance
1) Party A agrees to pay 50% of the medical insurance. Party B's insurance premium of 50% will be deducted from his/her monthly salary.
2) Dental and pre-existing conditions diseases) are not covered in this insurance.
Party A’s Obligations
1) Party A will introduce to Party B, the Party A’s school policies and regulations concerning work conditions.
2) Party A will provide Party B necessary working and living conditions.
3) Party A will provide all curricula, textbooks and other teaching materials.
4) Party A will help Party B as best as possible with any problems, including personal difficulties in living in Korea.
Party B’s Obligations
1) Party B shall observe Party A’s school policies and regulations concerning teachers and shall accept Party A’s arrangement, direction, supervision and evaluation in regard to his/her work.
2) Party B is not allowed to work for any other organization including private tutoring without party A’s prior consent.
3) Korean law stipulates that no full-time instructor may work at two or more institutions at the same time. Failure to observe this regulation will result in immediate dismissal.
4) Without Party A’s consent, Party B shall not render service elsewhere or hold concurrently any post unrelated to the work agreed on with Party A.
5) Party B is responsible for the implementation of the school’s curriculum, grading and evaluation, and attending occasional teachers’ meetings.
6) Party B must behave in a professional manner during class or when socializing with students after class.
7) Party B can be required to interview new students and evaluate their placement level.

Party B shall not be absent without Party A’s permission, with a 2 days in advance notice.
9) If Party B is more than 10 minutes late without notification, one hour rate of payment may be deducted and if one hour missed, one day deducted.
10) Party B shall respect the Korean people’s moral standards and customs.
11) Party B shall not sexually harass the students in his care.
12) No form of physical punishment must be used by Party B.
13) Party B must follow Party A’s teaching methodology.
Resignation
1) In case of Party B’s resignation, which must be notified at least two months in advance, the contract between Party A and Party B will become null and void. Accordingly Party B’s salary will be paid up to the date of party B’s resignation.
2) In case of party B’s resignation without notice before two months, Party A is not obligated to pay the salary for the month. And Party B will pay utilities for two months.
3) If the employee leaves not finishing 1 year contract because of the employee’s faults and personal reasons the employee has to refund the recruiting commission including the extra expenditure(visa processing fee) for inviting the employee. (About recruiting commission/this will cost about 1,500,000 Korean won(+ visa process fee /visa process refunding cost is different depending on the situation) will be deducted from the teacher’s last salary for the next teacher first and the rest of the salary will be transferred the teacher’s bank account) And the employee has the duty to work till the new substitute teacher starts as the employee’s replacement. (at least 2 months)
Revision, Cancellation and Termination of the Contract
1) Both parties should abide by the contract and must refrain from revising, canceling, or terminating the contract without mutual consent.
2) This contract may be renewed upon agreement between Party A and Party B three months prior to its expiration; otherwise, Party B will just finish out the completion of the original contract.
The undersigned agrees to the terms stated above in this contract and for future reference, each party is to keep a copy of this contract.
Teacher’s Guarantee for One Year Contract
In addition to the forgoing I, ______________ confirm that if I am not able to complete the full term of this one year contract due to personal reasons or unprofessional conduct on my part (reflected in significant negative feedback from parents/guardians, students, managers or co-workers) I acknowledge the right of the school to handle all matters arising according to the contract I have signed myself and I will be entitled to the rights and provisions contained in this contract. I will not make any dispute if the school handles everything according to the contract as executed by myself and the Employer.