Common use of Assignment of Overriding Royalty Interest Clause in Contracts

Assignment of Overriding Royalty Interest. Except as otherwise expressly provided in paragraphs 9.4.8 and 9.4.9, Employee shall not be entitled to obtain recordable assignments of his interest under this paragraph 9 until his completion of three years of employment by Company and, except as otherwise expressly provided herein, Employee shall forfeit ownership of such interest if Employee's employment is terminated by Company pursuant to paragraph 3.5 or by Employee without Good Reason as defined in paragraph 3.9, prior to the completion of such three years of employment. Upon completion of three years of employment of Employee by Company, Employee's ownership of interests theretofore or thereafter transferred to him pursuant to this Agreement will no longer be subject to forfeiture, and assignments will be made in accordance with this paragraph 9.