Common use of Conversion to Part Time Clause in Contracts

Conversion to Part Time. If the Executive permanently ceases to perform services for the Employer and each Mid-Con Entity for his “Full-Time Hours” (i.e., the average number of hours per month that he regularly performed such services during the previous 36 months or such shorter period of employment with the Employer or Mid-Con Entity), but continues to perform services averaging no more than 40% of his Full-Time Hours, he will be deemed to have become a “Part-Time” employee and to have a Separation from Service. While the Executive is on a bona fide, paid, leave of absence with the expectation that he will return to full-time employment, he will be credited with his Full-Time Hours for purposes of determining his average Full-Time Hours.