It is the intent of Hollon Oil Company to clarify the definitions of employment classifications so that employees understand their employment status and benefit eligibility. These classifications do not guarantee employment for any specified period of time. Accordingly, the right to terminate the employment relationship at will at any time is retained by both the employee and Hollon Oil Company.
Each employee is designated as either NONEXEMPT or EXEMPT from federal and state wage and hour laws. NONEXEMPT employees are entitled to overtime pay under the specific provisions of federal and state laws. EXEMPT employees are excluded from specific provisions of federal and state wage and hour laws. An employee's EXEMPT or NONEXEMPT classification may be changed only upon notification by Hollon Oil Company management.
In addition to the above categories, each employee will belong to one other employment category:
REGULAR FULL-TIME employees are those who are not in a temporary or introductory status and who are regularly scheduled to work Hollon Oil Company's full-time schedule. Generally, they are eligible for Hollon Oil Company's benefits, subject to the terms, conditions, and limitations of each benefit program.
PART-TIME employees are those who are not assigned to a temporary or introductory status and who are regularly scheduled to work on average less than 24 hours per week. While they do receive all legally mandated benefits (such as Social Security and workers' compensation insurance), they are ineligible for all of Hollon Oil Company's other benefit programs.
INTRODUCTORY employees are those whose performance is being evaluated to determine whether further employment in a specific position or with Hollon Oil Company is appropriate. Employees who satisfactorily complete the introductory period will be notified of their new employment classification.
TEMPORARY employees are those who are hired as interim replacements, to temporarily supplement the work force, or to assist in the completion of a specific project. Employment assignments in this category are of a limited duration. Employment beyond any initially stated period does not in any way imply a change in employment status. Temporary employees retain that status unless and until notified of a change. While temporary employees receive all legally mandated benefits (such as workers' compensation insurance and Social Security), they are ineligible for all of Hollon Oil Company's other benefit programs.
