Commonwealth Bank has put a collective agreement offer on the table after more than two years bargaining with unions.If approved it will be the first new collective agreement for the bank since 2002 and, with some 35,000 employees covered, one of the biggest deals made so far under the Fair Work Act.The bank has offered a one-year agreement that would deliver a four per cent pay increase to employees who achieve a "meets expectations" or higher rating for their work during the 2009/10 financial year.Employees assessed as "needing improvement" would receive two per cent while those whose performance is deemed "unsatisfactory" would get nothing, although they would have the chance to make up ground at an end-of-year review.Further, all workers covered would be eligible for a performance related pay scheme under which top achievers could win significant lump-sum payments, in some cases equalling up to 15 per cent of their annual salary.Read more at Workplace Express