PR application under AEO

Hi,
My situation is this.

1. I am here in Canada on a work permit (applied through the Software Facilitation program). No LMO
2. The work permit is valid only for a year (Jan 2012 is the expiry date)
3. My employer is ready to give me a letter towards the PR process under AEO

Questions
1. Apart from the letter, is there any other requirement from the employer?
2. Do I need to have an approved LMO at the point I apply for PR?
My employer will file for an LMO and then an extension in another 6 months or so. But right now, there is no LMO. Is this required right now when I kick off the PR process.
3. Any template for the letter from the employer? My employer is willing to give the letter but with a slight disclaimer (sthg on the lines of this verbage: "Subject to market conditions / business needs").

Thanks,
SS