Full and Part-Time Status. An employee shall be deemed “full” or “part-time” as follows:
Full and Part-Time Status. Full-time status for the purpose of all benefits occurs when an employee is regularly scheduled for at least thirty (30) or more hours per week or sixty (60) or more hours per scheduled pay period. Part-time, without benefits, occurs when an employee is regularly scheduled less than thirty (30) hours per week or sixty (60) hours per scheduled pay period.
Full and Part-Time Status. Your employment hereunder shall be on a full-time basis, except as set forth below. You shall have the right, upon 30 days notice to the Corporation (or such shorter period as may be necessitated by your health or personal circumstances), to assume part-time status under this Agreement. In such event, you may elect to work such number of hours and days per week as you may specify in a written notice to the Corporation, which shall not be less than 20 hours per week, except with the consent of the Corporation. If you elect part-time status, the Base Amount portion of your compensation and bonuses (but not the Additional Amount or benefits) shall be reduced proportionately based upon the ratio (the "Compensation Ratio") of the number of hours you elect to work to 40 hours per week. You may at any time during the term of this Agreement increase your work commitment (but the Compensation Ratio shall not exceed 1.00, regardless of the number of hours actually worked per week), or further reduce your work commitment within the parameters set forth above in this paragraph. You shall have the right, upon reasonable notice to the Corporation, to assume consulting status under this Agreement. You may make such election for any reason, including as may be necessitated by your health or personal circumstances. In such event, you shall perform such consulting as may be reasonably requested by the Corporation during the remainder of the term of the Agreement. If you assume consulting status under this Agreement, the Base Amount portion of your compensation shall terminate, but the Additional Amount shall continue to be paid for the remainder of the term of the Agreement and (so long as your consulting status continues) shall be increased by $2,000 per month for the remainder of the term of the Agreement, and all benefits provided in this Agreement shall continue during the remaining term of this Agreement to the extent permitted under the applicable benefit plans. If you become totally incapacitated during the term of this Agreement, the Base Amount portion of your compensation shall terminate. Payments of the Additional Amount shall terminate one year after such incapacity occurs or at the conclusion of the term of this Agreement, whichever occurs earlier, and all benefits provided in this Agreement shall continue during the remaining term of this Agreement to the extent permitted under the applicable benefit plans. If you die during the term of this Agreement, the Bas...
Full and Part-Time Status. Full time and part time employees shall maintain separate classification seniority lists. However, full time employees shall hold seniority over part time employees for seniority application purposes. Employees who move from part time to full time status shall move to the bottom of the full time seniority list.
