Common use of Executive Alternative Work Arrangement Employment Status Clause in Contracts

Executive Alternative Work Arrangement Employment Status. As an executive officer of Equitable, Employee also has the opportunity to elect now to participate in the newly-created status of “Executive Alternative Work Arrangement” upon discontinuing full-time status. The terms and conditions of Executive Alternative Work Arrangement Employment Status are described in the Executive Alternative Work Arrangement Employment Agreement attached as Exhibit A. Set forth below is an election form to elect to participate in this new classification. If Employee so elects to participate by signing the election form below, the Executive Alternative Work Arrangement classification will be automatically assigned to Employee if and when Employee gives Equitable (delivered to the Vice President and Chief Human Resources Officer) at least 90 days’ advance written notice of Employee’s intention to discontinue full-time status. By signing the election below, Employee thereby agrees to execute the attached Executive Alternative Work Arrangement Employment Agreement, which will become effective automatically on the day following Employee’s relinquishment of full-time status, provided however that Employee has retained executive officer status and is otherwise in good standing with Equitable (i.e., has not been terminated for Cause nor left the Company for “Good Reason”).