Amount of Participation. On or before the date which is thirty (30) days before the first (1st) day of each Calendar Quarter, the Executive will provide notice to the compensation committee of the Company's board of directors of the Executive's intent to participate in the Program Wellx xxxing the succeeding Calendar Quarter and the approximate percentage working interest which the Executive proposes to participate with during such Calendar Quarter. The Executive's percentage working interest in the Program Wellx xxxdded during such Calendar Quarter will be subject to approval by the disinterested members of the compensation committee of the Company's board of directors and to the limitations set forth herein (the "Approved Percentage"). The Executive's Approved Percentage working Interest participation (determined without consideration of any carried interest) in the Program Wellx xxx any Calendar Quarter will not exceed one percent (1.0%) on an eight-eighths (8/8ths) basis. On designation of the Approved Percentage for a Calendar Quarter, the Executive will be deemed to have elected to participate in each Program Well spudded during such calendar Quarter with a working interest equal to the following applicable percentage determined on a well-by-well basis (the "Minimum Participation"): (a) the Approved Percentage for a Program Well which does not fall within clause (b) of this paragraph 3. 1.1 or an Operations Well; or (b) zero percent (0%) if the combined participation in the Program Well by the Executive, Mr. Xxx X. Xxxx and Mr. Xxxxxx X. McClendon
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Amount of Participation. On or before the date which is thirty (30) days before the first (1st) day of each Calendar Quarter, the Executive will provide notice to the compensation committee of the Company's board of directors of the Executive's intent to participate in the Program Wellx xxxing the succeeding Calendar Quarter and the approximate percentage working interest which the Executive proposes to participate with during such Calendar Quarter. The Executive's percentage working interest in the Program Wellx xxxdded during such Calendar Quarter will be subject to approval by the disinterested members of the compensation committee of the Company's board of directors and to the limitations set forth herein (the "Approved Percentage"). The Executive's Approved Percentage working Interest interest participation (determined without consideration of any carried interest) in the Program Wellx xxx any Calendar Quarter will not exceed one two and one-half percent (1.02.5%) on an eight-eighths (8/8ths) basis. On designation of the Approved Percentage for a Calendar Quarter, the Executive will be deemed to have elected to participate in each Program Well spudded during such calendar Calendar Quarter with a working interest equal to the following applicable percentage determined on applicable
1.1 prohibits the Executive's participation in a well-by-well basis (the Program Well, then Messrs. McClxxxxx xxx Rowlxxx xxxl not be entitled to participate in such Program Well under their employment agreements. An "Minimum Participation"): (a) the Approved Percentage for Operations Well" means a Program Well which does not fall falls within the provisions of clause (b) of this paragraph 3.
1.1 3.1.1, but for which the Executive's participation is deemed necessary for the Company to retain operations as determined by the disinterested members of the compensation committee of the Company's board of directors. If the Executive elects not to participate for a Calendar Quarter or an Operations Well; or (b) fails to provide notice of the Executive's intent to participate and the Executive's proposed participation prior to the specified date as provided herein, the amount of the Approved Percentage for the Calendar Quarter will be deemed to be zero percent (0%) if the combined participation in the Program Well by the Executive, Mr. Xxx X. Xxxx and Mr. Xxxxxx X. McClendon).
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Amount of Participation. On or before the date which is thirty (30) days before the first (1st) day of each Calendar Quarter, the Executive will provide notice to the compensation committee of the Company's board of directors of the Executive's intent to participate in the Program Wellx xxxing the succeeding Calendar Quarter and the approximate percentage working interest which the Executive proposes to participate with during such Calendar Quarter. The Executive's percentage working interest in the Program Wellx xxxdded spudded during such Calendar Quarter will be subject to approval by the disinterested members of the compensation committee of the Company's board of directors and to the limitations set forth herein (the "Approved Percentage"). The Executive's Approved Percentage working Interest participation (determined without consideration of any carried interest) in the Program Wellx xxx any Calendar Quarter will not exceed one two and one-half percent (1.02.5%) on an eight-eighths (8/8ths) basis. On designation of the Approved Percentage for a Calendar Quarter, the Executive will be deemed to have elected to participate in each Program Well spudded during such calendar Quarter with a working interest equal to the following applicable percentage determined on a well-by-well basis (the "Minimum Participation"): (a) the Approved Percentage for a Program Well which does not fall within clause (b) of this paragraph 3.
1.1 or an Operations Well; or (b) zero percent (0%) if the combined participation in the Program Well by the Executive, Mr. Xxx Xxxxxx X. Xxxx McClendon and Mr. Xxxxxx X. McClendonXxxxxxx with such
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Amount of Participation. On or before the date which is thirty (30) days before the first (1st) day of each Calendar Quarter, the Executive will provide notice to the compensation committee of the Company's board of directors of the Executive's intent to participate in the Program Wellx xxxing the succeeding Calendar Quarter and the approximate percentage working interest which the Executive proposes to participate with during such Calendar Quarter. The Executive's percentage working interest in the Program Wellx xxxdded during such Calendar Quarter will be subject to approval by the disinterested members of the compensation committee of the Company's board of directors and to the limitations set forth herein (the "Approved Percentage"). The Executive's Approved Percentage working Interest interest participation (determined without consideration of any carried interest) in the Program Wellx xxx any Calendar Quarter will not exceed one two and one-half percent (1.02.5%) on an eight-eighths (8/8ths) basis. On designation of the Approved Percentage for a Calendar Quarter, the Executive will be deemed to have elected to participate in each Program Well spudded during such calendar Quarter with Calendar
1.1 prohibits the Executive's participation in a working interest equal Program Well, then Messrs. Ward xxx Rowlxxx xxxl not be entitled to the following applicable percentage determined on a well-by-well basis (the participate in such Program Well under their employment agreements. An "Minimum Participation"): (a) the Approved Percentage for Operations Well" means a Program Well which does not fall falls within the provisions of clause (b) of this paragraph 3.
1.1 3.1.1, but for which the Executive's participation is deemed necessary for the Company to retain operations as determined by the disinterested members of the compensation committee of the Company's board of directors. If the Executive elects not to participate for a Calendar Quarter or an Operations Well; or (b) fails to provide notice of the Executive's intent to participate and the Executive's proposed participation prior to the specified date as provided herein, the amount of the Approved Percentage for the Calendar Quarter will be deemed to be zero percent (0%) if the combined participation in the Program Well by the Executive, Mr. Xxx X. Xxxx and Mr. Xxxxxx X. McClendon).
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