Common use of DEVOTION TO RESPONSIBILITIES Clause in Contracts

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. 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 CommitteeCorporate Personnel Committee of the Board, 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. 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 '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 CommitteeCorporate Personnel Committee of the Board, beneficially own 5% 5 percent 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% 2 percent 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. The Executive will During the Employment Term, the Employee shall devote significant all of his business time to the business of the CompanyCompany and its subsidiaries and affiliated companies, will shall use his reasonable best efforts to perform faithfully and efficiently his duties under this Agreement, and will shall not engage in or be employed by any other business; provided, however, that nothing contained herein will shall prohibit the Executive Employee 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 Employee receives compensation therefor, (cb) investing his assets in such form or manner as will shall require no more than nominal services on the part of the Executive Employee in the operation of the business of the entity or property in which such investment is made, or (dc) serving in various capacities with, and attending meetings of, industry or trade groups and associations, as long as the Executive’s Employee's engaging in any activities permitted by virtue of clauses (a), (b), ) and (c) and (d) above do does not materially and unreasonably interfere with the ability of the Executive Employee to perform the services and discharge the responsibilities required of him under this Agreement. Notwithstanding clause (cb) above, during the Executive may notEmployment Term, 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 Employee shall not perform any services for and Exchange Commission under the Securities Exchange Act of 1934 (the “Exchange Act”) other than the Company or McMoRan, and the Executive may shall not beneficially own more than 2% of the equity interests of any a business organization that competes with the CompanyCompany or its affiliates. For purposes of this paragraph, “"beneficially own” has " shall have the meaning ascribed given to that term in Rule 13d-3 under the Securities Exchange ActAct of 0000 (xxx "Xxxxxxxx Xxx").

DEVOTION TO RESPONSIBILITIES. The Executive will During the Employment Term, the Employee shall devote significant all of his business time to the business of the CompanyCompany and its subsidiaries and affiliated companies, will shall use his reasonable best efforts to perform faithfully and efficiently his duties under this Agreement, and will shall not engage in or be employed by any other business; provided, however, that nothing contained herein will shall prohibit the Executive Employee 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 Employee receives compensation therefor, (cb) investing his assets in such form or manner as will shall require no more than nominal services on the part of the Executive Employee in the operation of the business of the entity or property in which such investment is made, or (dc) serving in various capacities with, and attending meetings of, industry or trade groups and associations, as long as the Executive’s Employee's engaging in any activities permitted by virtue of clauses (a), (b), ) and (c) and (d) above do does not materially and unreasonably interfere with the ability of the Executive Employee to perform the services and discharge the responsibilities required of him under this Agreement. Notwithstanding clause (cb) above, during the Executive may notEmployment Term, 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 Employee shall not perform any services for and Exchange Commission under the Securities Exchange Act of 1934 (the “Exchange Act”) other than the Company or McMoRan, and the Executive may shall not beneficially own more than 2% of the equity interests of any a business organization that competes with the CompanyCompany or its affiliates. For purposes of this paragraph, “"beneficially own” has " shall have the meaning ascribed given to that term in Rule 13d-3 under the Securities Exchange ActAct of 1934 (the "Excxxxxx Xxx").

DEVOTION TO RESPONSIBILITIES. The Executive will During the Employment Term, the Employee shall devote significant all of his business time to the business of the CompanyCompany and its subsidiaries and affiliated companies, will shall use his reasonable best efforts to perform faithfully and efficiently his duties under this Agreement, and will shall not engage in or be employed by any other business; provided, however, that nothing contained herein will shall prohibit the Executive Employee 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 Employee receives compensation therefor, (cb) investing his assets in such form or manner as will shall require no more than nominal services on the part of the Executive Employee in the operation of the business of the entity or property in which such investment is made, or (dc) serving in various capacities with, and attending meetings of, industry or trade groups and associations, as long as the Executive’s Employee's engaging in any activities permitted by virtue of clauses (a), (b), ) and (c) and (d) above do does not materially and unreasonably interfere with the ability of the Executive Employee to perform the services and discharge the responsibilities required of him under this Agreement. Notwithstanding clause (cb) above, during the Executive may notEmployment Term, 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 Employee shall not perform any services for and Exchange Commission under the Securities Exchange Act of 1934 (the “Exchange Act”) other than the Company or McMoRan, and the Executive may shall not beneficially own more than 2% of the equity interests of any a business organization that competes with the CompanyCompany or its affiliates. For purposes of this paragraph, “"beneficially own” has " shall have the meaning ascribed given to that term in Rule 13d-3 under the Securities Exchange ActAct of 1934 (the "Exchxxxx Xxx").

DEVOTION TO RESPONSIBILITIES. The Executive During the Employment Term, the Employee will devote significant business all of his time and attention to the business of the Company, will use his best efforts to perform faithfully and efficiently his duties under this Agreement, 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 will contained shall prohibit the Executive Employee from (a) serving as an officer and director of McMoRan Exploration Co. (“McMoRan”), FM Services Company or any of their affiliates or successors, (bi) serving as a member of the board Board of directorsDirectors, board Board of trustees Trustees or the like of any for-for profit or non-profit entity that does not compete with the Companyentity, or performing services of any type for any civic or community entity, whether or not the Executive Employee receives compensation therefor, (cii) investing his assets in such form or manner as will require no more than nominal services on the part of the Executive Employee in the operation of the business of the entity in which such investment is made, or (diii) 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 Executive’s Employee's engaging in any activities permitted by virtue of clauses (ai), (b), (cii) and (diii) above do does not materially and unreasonably interfere with the ability of the Executive Employee to perform the services and discharge the responsibilities required of him under this Agreement. Notwithstanding clause (cii) above, during the Executive Employment Term, the Employee may not, without the approval not beneficially own more than 2% of the Committee, beneficially own 5% or more outstanding shares of the any class of equity interests 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”") other than the Company or McMoRan, and the Executive may not beneficially own more than 25% of the equity interests outstanding shares of any class of equity security of a business organization that competes with the Company. For purposes of this paragraph, “"beneficially own” has " shall have the same meaning ascribed to that term in Rule 13d-3 under the Exchange Act.

DEVOTION TO RESPONSIBILITIES. The Executive will During the Employment Term, the Employee shall devote significant all of his business time to the business of the Company, will shall use his reasonable best efforts to perform faithfully and efficiently his duties under this Agreement, and will shall not engage in or be employed by any other business; provided, however, that nothing contained herein will shall prohibit the Executive Employee 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-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 Employee receives compensation therefor, (cb) investing his assets in such form or manner as will shall require no more than nominal services on the part of the Executive Employee in the operation of the business of the entity in which such investment is made, or (dc) serving in various capacities with, and attending meetings of, industry or trade groups and associations, as long as the Executive’s Employee's engaging in any activities permitted by virtue of clauses (a), (b), ) and (c) and (d) above do does not materially and unreasonably interfere with the ability of the Executive Employee to perform the services and discharge the responsibilities required of him under this Agreement. Notwithstanding clause (cb) above, during the Executive Employment Term, the Employee may not, without the approval of the Committee, not beneficially own 5more than 2% 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 a business organization that competes with the Company. For purposes of this paragraph, “"beneficially own” has " shall have the same meaning ascribed to that term in Rule 13d-3 under the Exchange Act.