Time Sharing Agreement

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

TIME SHARING AGREEMENT

This Time Sharing Agreement (“Agreement”) is made and entered into this {{date}} by and between {{company_name}} (hereinafter referred to as “the Company”), and {{employee_name}} (hereinafter referred to as “the Employee”), residing at {{employee_address}}.

1. Purpose

This Agreement sets forth the terms and conditions under which the Employee will work a reduced schedule, sharing a full-time position or having a modified work arrangement. The Company acknowledges the Employee's request for a flexible work schedule and agrees to implement the terms outlined herein to the mutual benefit of both parties.

2. Duration of Agreement

This Agreement shall commence on {{start_date}} and shall continue until {{end_date}}, unless terminated earlier in accordance with the provisions of this Agreement. Either party may request a review or modification of this Agreement with {{notice_period}} days’ written notice.

3. Work Schedule and Responsibilities

The Employee agrees to work {{hours_per_week}} hours per week, typically on {{days_of_week}} from {{start_time}} to {{end_time}}. Specific duties and responsibilities remain consistent with the Employee’s full-time role of {{job_title}}, adapted to the reduced hours. The Employee will be responsible for {{key_responsibilities}}.

The Employee is expected to effectively manage their workload within the agreed-upon hours and communicate proactively with their supervisor regarding any potential conflicts or unmet deadlines.

4. Compensation and Benefits

The Employee's salary will be adjusted proportionally to the reduced work schedule. The new annual salary will be {{new_annual_salary}} or an hourly rate of {{hourly_rate}}. All other benefits, including {{benefits_details}}, will be prorated or adjusted according to existing Company policy for part-time employees. Details of benefit adjustments are appended in Schedule A.

5. Performance Evaluation

Performance evaluations will continue to be conducted in accordance with Company policy, adjusted to reflect the Employee’s reduced work schedule and revised responsibilities. Expectations will be clearly communicated by the Employee's supervisor.

6. Confidentiality

The Employee agrees to maintain the confidentiality of all Company proprietary, confidential, and sensitive information, both during and after the term of this Agreement, consistent with the Company's standard confidentiality policies and any separate non-disclosure agreements in place.

7. Termination of Agreement

This Agreement may be terminated by either party with {{notice_period_termination}} days’ written notice. The Company reserves the right to terminate this Agreement immediately for gross misconduct or other serious breaches of Company policy. Upon termination, the Employee shall return all Company property in their possession.

8. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of {{country_name}}, without regard to its conflict of law principles. Any disputes arising from this Agreement shall be subject to the exclusive jurisdiction of the courts located in {{city}}, {{country_name}}.

9. Entire Agreement

This Agreement constitutes the entire agreement between the Company and the Employee concerning the subject matter hereof and supersedes all prior and contemporaneous agreements, understandings, negotiations, and discussions, whether oral or written.

Signature Block

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

_____________________________

{{employee_name}} (Employee)

Date: {{date}}

_____________________________

For and on behalf of {{company_name}}

Name: {{authorized_signatory_name}}

Title: {{authorized_signatory_title}}

Date: {{date}}