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Common use of Advance Approval of Board Clause in Contracts

Advance Approval of Board. It is agreed that these covenants do not prevent Executive from using and offering the general management or other skills that he possessed prior to receiving access to Confidential Information and other legitimate business interests of the Company Parties. This Agreement creates an advance approval process, and nothing herein is intended, or will be construed as, a general restriction against Executive’s pursuit of lawful employment in violation of any controlling state or federal laws. Executive is permitted to engage in activities that would otherwise be prohibited by this covenant if such activities are determined in the sole discretion of the Board, and authorized in writing, to be of no material threat to the legitimate business interests of the Company.

Appears in 3 contracts

Samples: Retirement and Restrictive Covenant Agreement (Newpark Resources Inc), Employment Agreement (Newpark Resources Inc), Employment Agreement (Newpark Resources Inc)

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Advance Approval of Board. It is agreed that these covenants do not prevent Executive from using and offering the general management or other skills that he possessed prior to receiving access to Confidential Information and other legitimate business interests of the Company Parties. This Agreement creates an advance approval process, and nothing herein is intended, or will be construed as, a general restriction against Executive’s pursuit of lawful employment in violation of any controlling state or federal laws. Executive is permitted to engage in activities that would otherwise be prohibited by this covenant if such activities are determined in the sole discretion of the BoardBoard of the Company, and authorized in writing, to be of no material threat to the legitimate business interests of the Company.

Appears in 2 contracts

Samples: Employment Agreement (Newpark Resources Inc), Employment Agreement (Newpark Resources Inc)

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Advance Approval of Board. It is agreed that these covenants do not prevent Executive from using and offering the general management or other skills that he possessed prior to receiving access to Confidential Information and other legitimate business interests of the Company Parties. This Agreement creates an advance approval process, and nothing herein is intended, or will be construed as, a general restriction against Executive’s pursuit of lawful employment in violation of any controlling state or federal laws. Executive is permitted to engage in activities that would otherwise be prohibited by this covenant if such activities are determined in the sole discretion of the BoardBoard of Directors of the Company, and authorized in writing, to be of no material threat to the legitimate business interests of the Company.

Appears in 1 contract

Samples: Confidentiality and Non Competition Agreement (Newpark Resources Inc)

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