Quote from Rnis
That is a nope..... they are only offering you 20 hours a week of work..... they don't get to say you don't work elsewhere. by saying they have to approve it they would be essentially freeze you out of other financial opportunities.
Ding, ding, ding!!! We have a winner!!!!!!
I really think they were lazy, took one of their full-time contracts, and just adjusted the hours. Even then though, saying 20-40 hours on your contract is so ridiculous it hurts from laughing. They basically want 20 hours of your week on retainer without compensating you for it.
The more I've thought about this arrangement, the more I've realized it's the worst contract ever. Unless the hourly rate they're paying is high ($100+/hr), I would run away unless they realize their stupidity and make some major editing. At least at that hourly rate you're gonna have oodles of free-time and still pull in over 100k a year. Who cares if you couldn't work elsewhere, haha. Your work-life balance would be insanely awesome.
Please keep us posted on what you decide.