DEVOTION TO RESPONSIBILITIES. During the Employment Term, the Employee shall devote all of his business time to the business of the Company, shall use his best efforts to perform faithfully and efficiently his duties under this Agreement, and shall not engage in or be employed by any other business; provided, however, that nothing herein shall prohibit the Employee from (a) serving as a member of the board of directors, board of trustees or the like of any for-profit or non-profit entity that does not compete with the Company, or performing services of any type for any civic or community entity, whether or not the Employee receives compensation therefor, (b) investing his assets in such form or manner as shall require no more than nominal services on the part of the Employee in the operation of the business of the entity in which such investment is made, or (c) serving in various capacities with, and attending meetings of, industry or trade groups and associations, as long as the Employee's activities permitted by clauses (a), (b) and (c) above do not materially and unreasonably interfere with the ability of the Employee to perform the services and discharge the responsibilities required of him under this Agreement. Notwithstanding clause (b) above, during the Employment Term, the Employee may not beneficially own more than 2% of the equity interests of a business organization required to file periodic reports with the Securities and Exchange Commission under the Securities Exchange Act of 1934 (the "Exchange Act") and may not beneficially own more than 2% of the equity interests of a business organization that competes with the Company. For purposes of this paragraph, "beneficially own" has the meaning ascribed to that term in Rule 13d-3 under the Securities Exchange Act of 1934, as amended from time to time (the "Exchange Act").
DEVOTION TO RESPONSIBILITIES. The Executive will devote significant business time to the business of the Company, will use his best efforts to perform faithfully and efficiently his duties under this Agreement, and will not engage in or be employed by any other business; provided, however, that nothing herein will prohibit the Executive from (a) serving as an officer and director of McMoRan Exploration Co. (“McMoRan”), FM Services Company or any of their affiliates or successors, (b) serving as a member of the board of directors, board of trustees or the like of any for-profit or non-profit entity that does not compete with the Company, or performing services of any type for any civic or community entity, whether or not the Executive receives compensation therefor, (c) investing his assets in such form or manner as will require no more than nominal services on the part of the Executive in the operation of the business of the entity in which such investment is made, or (d) serving in various capacities with, and attending meetings of, industry or trade groups and associations, as long as the Executive’s activities permitted by clauses (a), (b), (c) and (d) above do not materially and unreasonably interfere with the ability of the Executive to perform the services and discharge the responsibilities required of him under this Agreement. Notwithstanding clause (c) above, the Executive may not, without the approval of the Committee, beneficially own 5% or more of the equity interests of a business organization required to file periodic reports with the Securities and Exchange Commission under the Securities Exchange Act of 1934 (the “Exchange Act”) other than the Company or McMoRan, and the Executive may not beneficially own more than 2% of the equity interests of any business organization that competes with the Company. For purposes of this paragraph, “beneficially own” has the meaning ascribed to that term in Rule 13d-3 under the Exchange Act.
DEVOTION TO RESPONSIBILITIES. Until the Resignation Date, the Executive shall carry on his ordinary and customary duties. In addition, the Executive shall assist the Company in effecting an orderly transition of his responsibilities to his successor and perform such other duties as may be reasonably requested by the Company.
DEVOTION TO RESPONSIBILITIES. During the Employment Term, the Employee will devote all of his time and attention to the business of the Company, and he will not engage in or be employed by any other business activity or business, whether or not such business activity or business is for gain, profit or other pecuniary advantage; provided, however, that nothing herein contained shall prohibit the Employee from (i) serving as a member of the Board of Directors, Board of Trustees or the like of any for profit or non-profit entity, or performing services of any type for any civic or community entity, whether or not the Employee receives compensation therefor, (ii) investing his assets in such form or manner as will require no more than nominal services on the part of the Employee in the operation of the business of the entity in which such investment is made, or (iii) serving in various capacities with, and attending meetings of, industry or trade groups and associations, including without limitation the industry or trade groups and associations with which the Employee is currently involved, as long as the Employee's engaging in any activities permitted by virtue of clauses (i), (ii) and (iii) above does not materially and unreasonably interfere with the ability of the Employee to perform the services and discharge the responsibilities required of him under this Agreement. Notwithstanding clause (ii) above, during the Employment Term, the Employee may not beneficially own more than 2% of the outstanding shares of any class of equity security of a business organization required to file periodic reports with the Securities and Exchange Commission under the Securities Exchange Act of 1934 (the "Exchange Act") and may not beneficially own more than 5% of the outstanding shares of any class of equity security of a business organization that competes with the Company. For purposes of this paragraph, "beneficially own" shall have the same meaning ascribed to that term in Rule 13d-3 under the Exchange Act.
DEVOTION TO RESPONSIBILITIES. During the Employment Term, the Employee shall devote all of his time and attention during normal business hours to the business of the Company, and he will engage in or be employed by any other business activity or business, whether or not such business activity or business is for gain, profit or other pecuniary advantage; provided, however, that nothing herein contained shall prohibit the Employee from (i) serving as a member of the Board of Directors, Board of Trustees of the like of any for profit or non-profit entity, or performing services of any type for any civic or community entity, whether or not the Employee receives compensation therefore, (ii) investing his assets in such form or manner as will require no more than nominal services on the part of the Employee in the operation of the business of the entity in which such investment is made, and (iii) serving in various capacities with, and attending meetings of, industry or trade groups and associations, including without limitation the industry or trade groups and associations, including without limitation the industry or trade groups and associations with which the Employee is currently involved, as long as the Employee's engaging in any one or more of the activities permitted by virtue of clauses (i), (ii) and (iii) above does not or do not materially and unreasonably interfere with the ability of the Employee to perform the services and discharge the responsibilities required of him under this Agreement.
DEVOTION TO RESPONSIBILITIES. During the Employment Term, the Employee shall devote that portion of his business time reasonably requested by the Chief Executive Officer to the business of the Company and shall use his reasonable best efforts to perform faithfully and efficiently his duties under this Agreement.
DEVOTION TO RESPONSIBILITIES. Employee shall devote such time and attention to rendering services on behalf of the Company as shall be necessary in order for him to efficiently perform his duties under this Agreement; provided, however, that nothing contained herein shall prohibit Employee from (a) serving as a volunteer member of the board of directors, board of trustees or the like of any for-profit or non-profit entity that does not compete with the Company, or performing volunteer services of any type for any civic or community entity, (b) investing his assets in such form or manner as shall require no more than nominal services on the part of Employee in the operation of the business of the entity in which such investment is made, (c) serving in various capacities with, and attending meetings of, industry or trade groups and associations; or (d) engaging in the Oil Exploration and Production Business through Forman Petroleum Corporatxxx XI as permitted by Article V, Section 3 of this Agreement.
DEVOTION TO RESPONSIBILITIES. During the Employment Term, the Employee shall, subject to the time reasonably required by Employee to seek other employment, devote that portion of his business time reasonably requested by the Chief Executive Officer to the business of the Company and shall use his reasonable best efforts to perform faithfully and efficiently his duties under this Agreement.
DEVOTION TO RESPONSIBILITIES. During the Employment Term, the Employee will devote all of his business time and attention to the business of the Company and its subsidiaries, and he will not engage in or be employed by any other business activity or business, whether or not such business activity or business is for gain, profit or other pecuniary advantage; provided, however, that this Agreement shall not prohibit the Employee from (i) serving as a member of the board of directors, board of trustees or the like of any for profit or non- profit entity, or performing services of any type for any civic or community entity, whether or not the Employee receives compensation therefor, (ii) investing his assets in such form or manner as will require no more than nominal services on the part of the Employee in the operation of the business of the entity in which such investment is made,
DEVOTION TO RESPONSIBILITIES. Until such time as he is no longer an Executive Vice President of the Company, Executive shall carry on his ordinary and customary duties. In addition, the Executive shall assist the Company in effecting an orderly transition of his responsibilities to his successor and perform such other duties as may be reasonably requested by the President and Chief Executive Officer.
