How binding is a part-time contract (no benefits)? My organization has an employee that is doing a job that is being split. His current contract is good through May 2015. Due to some accounting issues, we feel it is important to compartmentalize some of the responsibilities with a new position. His salary will be decreased to compensate for the new employee ($20K to $14K, new position will refceive $6K). Can the organization restructure or void his current contract?