(a)

(1) All permanent nonprobationary employees of Cotton Boll Technical Institute on June 30, 2003, shall become employees of Arkansas Northeastern College on July 1, 2003.

(2) A person who was a permanent nonprobationary employee of Cotton Boll Technical Institute on June 30, 2003, shall be employed by the Arkansas Northeastern College at least until July 1, 2008, if:

(A) Job performance is satisfactory;

(B) Student enrollment in programs is satisfactory; and

(C) Student job placements are satisfactory.

(b) (1) (A) By January 31, 2004, employees who were employed on June 30, 2003, by Mississippi County Community College or Cotton Boll Technical Institute shall have the right to make a one-time choice between:

(i) The Arkansas Northeastern College health insurance plan; or

(ii) The health insurance plan adopted by the State and Public School Life and Health Insurance Board for state employees.

(B) An employee who was employed by Cotton Boll Technical Institute on June 30, 2003, shall be entitled to remain in his or her same retirement system under the same conditions then provided by law or as may later be provided by law.

(C) The Cotton Boll Technical Institute employees who are classified employees of Cotton Boll Technical Institute but whose positions are deemed equivalent by Arkansas Northeastern College to nonclassified employee positions at the college may become nonclassified, and the classified position authorization is changed to nonclassified position authorization with the requisite increase in each appropriate nonclassified position allotment to the college.

(2) The Board of Trustees of Arkansas Northeastern College shall promulgate rules and regulations establishing the procedure for employees to exercise equal benefit options under this subsection.

(c)

(1) The President of the Cotton Boll Technical Institute on June 30, 2003, shall be a vice president at the Arkansas Northeastern College until at least July 1, 2008.

(2) The employee who was the president on June 30, 2003, shall retain and continue to receive:

(A) All options, rights, and benefits of employment, including salary plus any adjustment authorized by the board, granted in subdivision (b)(1) of this section; and

(B) Any transportation benefits that accompanied the position of president.

(d) An employee who was a member of the faculty of Cotton Boll Technical Institute on June 30, 2003, shall be deemed qualified to teach in the same level programs at the Arkansas Northeastern College if:

(1) The faculty member's job performance is satisfactory;

(2) Student enrollment is satisfactory; and

(3) Student job placements are satisfactory.