Common use of Independent Conduct Clause in Contracts

Independent Conduct. The Trustees, and the Trustor on behalf of all future Unit Owners, hereby reserve and retain the right to engage in all businesses and activities of any kind whatsoever (irrespective of whether the same may be in competition with the Trust), and to receive compensation or profit therefor, for their own respective accounts and without in any manner being obligated to disclose or offer such business and activities or assets or compensation or profit to each other or to the Trust. In Witness Whereof, Trustor and Trustees hereunto set their hands effective as of the day and year first above written. TRUSTOR: XXXXXXX XXXXXXXX ENERGY, INC. By: /Xxxx Xxxxxx TRUSTEES: /s/Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx /s/Xxxxxx X. Xxxxxx Xxxxxx X. Xxxxxx /s/Jordan X. Xxxxx Xxxxxx X. Xxxxx SCHEDULE 1 NEW MEXICO WORKING INTEREST TRUST Ownership Summary Xxxxxxx, Xxxx 16.1712 % Xxxxx, Xxx 15.5309 % Xxxxxx, Xxxx 15.1056 % Xxxxxx, Xxxx 8.6567 % Xxxxxxx, Xxxx 6.1314 % Xxxxxx, Xxxxx 6.0198 % Xxxxxx, Xxxx 5.9006 % Xxxxxx, Xxxx 5.4168 % Xxxxxx, Xxxx 5.4089 % Xxxxx, Xxx 5.0507 % Xxxxxxxxx, Xxxxxxxx 3.2198 % Xxxxxxx, Xxxx 2.4047 % Xxxxx, Xxxxx 2.1970 % Xxxxxxx, Xxx 0.6026 % Xxxxxx, Xxxxxx 0.5475 % Xxxxxxxxxx, Xxxxxx 0.4649 % Xxxxxx, Xxxxxx 0.4419 % Xxxxxx, Xxxxxx 0.3960 % Xxxxx, Xxx 0.1664 % Xxxxxx, Xxxxx 0.1664 % 100.0000 %

Independent Conduct. The Trustees, and the Trustor on behalf of all future Unit Owners, hereby reserve and retain the right to engage in all businesses and activities of any kind whatsoever (irrespective of whether the same may be in competition with the Trust), and to receive compensation or profit therefor, for their own respective accounts and without in any manner being obligated to disclose or offer such business and activities or assets or compensation or profit to each other or to the Trust. In Witness Whereof, Trustor and Trustees hereunto set their hands effective as of the day and year first above written. TRUSTOR: XXXXXXX XXXXXXXX ENERGY, INC. By: /Xxxx / Xxxx Xxxxxx TRUSTEES: /s//s/ Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx /s//s/ Xxxxxx X. Xxxxxx Xxxxxx X. Xxxxxx /s//s/ Jordan X. Xxxxx Xxxxxx Jordan X. Xxxxx SCHEDULE 1 NEW MEXICO SOUTH TEXAS WORKING INTEREST TRUST Ownership Summary XxxxxxxXxxxxx, Xxxx 16.1712 Xxxxx 28.1359 % Xxxxx, Xxx 15.5309 23.6062 % Xxxxxx, Xxxx 15.1056 14.2074 % Xxxxxxx, Xxxx 11.8031 % Xxxxx, Xxx 5.7521 % Xxxxxx, Xxxx 8.6567 5.1571 % Xxxxxxxxx, Xxxxxxxx 3.0655 % Xxxxxxx, Xxxx 6.1314 2.2894 % Xxxxx, Xxxxx 2.0917 % Xxxxxxx, Xxxx 1.2393 % Xxxxxxx, Xxx 0.5737 % Xxxxxx, Xxxxxx 0.5213 % Xxxxxxxxxx, Xxxxxx 0.4426 % Xxxxxx, Xxxxxx 0.4208 % Xxxxxx, Xxxxxx 0.3770 % Xxxxx, Xxx 0.1585 % Xxxxxx, Xxxxx 6.0198 % Xxxxxx, Xxxx 5.9006 % Xxxxxx, Xxxx 5.4168 % Xxxxxx, Xxxx 5.4089 % Xxxxx, Xxx 5.0507 % Xxxxxxxxx, Xxxxxxxx 3.2198 % Xxxxxxx, Xxxx 2.4047 % Xxxxx, Xxxxx 2.1970 % Xxxxxxx, Xxx 0.6026 % Xxxxxx, Xxxxxx 0.5475 % Xxxxxxxxxx, Xxxxxx 0.4649 % Xxxxxx, Xxxxxx 0.4419 % Xxxxxx, Xxxxxx 0.3960 % Xxxxx, Xxx 0.1664 % Xxxxxx, Xxxxx 0.1664 0.1584 % 100.0000 %

Independent Conduct. The Trustees, and the Trustor on behalf of all future Unit Owners, hereby reserve and retain the right to engage in all businesses and activities of any kind whatsoever (irrespective of whether the same may be in competition with the Trust), and to receive compensation or profit therefor, for their own respective accounts and without in any manner being obligated to disclose or offer such business and activities or assets or compensation or profit to each other or to the Trust. In Witness Whereof, Trustor and Trustees hereunto set their hands effective as of the day and year first above written. TRUSTOR: XXXXXXX XXXXXXXX ENERGY, INC. By: /Xxxx Xxxxxx Xxxxxx/ TRUSTEES: /s/Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx /s/Xxxxxx X. Xxxxxx Xxxxxx X. Xxxxxx /s/Jordan X. Xxxxx Xxxxxx Jordan X. Xxxxx SCHEDULE 1 NEW MEXICO WEST TEXAS I WORKING INTEREST TRUST Ownership Summary Xxxxxxx, Xxxx 16.1712 16.3126 % Xxxxxx, Xxxx 15.3126 % Xxxxxx, Xxxx 12.1196 % Xxxxx, Xxx 15.5309 11.5825 % Xxxxxxx, Xxxx 9.7153 % Xxxxxx, Xxxx 15.1056 5.9815 % Xxxxxx, Xxxxx 5.7313 % Xxxxx, Xxxxx 5.2718 % Xxxxxx, Xxxx 8.6567 5.1571 % Xxxxx, Xxx 4.8086 % Xxxxxxxxx, Xxxxxxxx 3.0655 % Xxxxxxx, Xxxx 6.1314 2.2894 % Xxxxxxx, Xxx 0.5737 % Xxxxxx, Xxxxxx 0.5213 % Xxxxxxxxxx, Xxxxxx 0.4426 % Xxxxxx, Xxxxxx 0.4208 % Xxxxxx, Xxxxxx 0.3770 % Xxxxx, Xxx 0.1585 % Xxxxxx, Xxxxx 6.0198 % Xxxxxx, Xxxx 5.9006 % Xxxxxx, Xxxx 5.4168 % Xxxxxx, Xxxx 5.4089 % Xxxxx, Xxx 5.0507 % Xxxxxxxxx, Xxxxxxxx 3.2198 % Xxxxxxx, Xxxx 2.4047 % Xxxxx, Xxxxx 2.1970 % Xxxxxxx, Xxx 0.6026 % Xxxxxx, Xxxxxx 0.5475 % Xxxxxxxxxx, Xxxxxx 0.4649 % Xxxxxx, Xxxxxx 0.4419 % Xxxxxx, Xxxxxx 0.3960 % Xxxxx, Xxx 0.1664 % Xxxxxx, Xxxxx 0.1664 0.1584 % 100.0000 %

Independent Conduct. The Trustees, and the Trustor on behalf of all future Unit Owners, hereby reserve and retain the right to engage in all businesses and activities of any kind whatsoever (irrespective of whether the same may be in competition with the Trust), and to receive compensation or profit therefor, for their own respective accounts and without in any manner being obligated to disclose or offer such business and activities or assets or compensation or profit to each other or to the Trust. In Witness Whereof, Trustor and Trustees hereunto set their hands effective as of the day and year first above written. TRUSTOR: XXXXXXX XXXXXXXX ENERGY, INC. By: /Xxxx Xxxxxx TRUSTEES: /s/Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx /s/Xxxxxx X. Xxxxxx Xxxxxx X. Xxxxxx /s/Jordan X. Xxxxx Xxxxxx X. Xxxxx SCHEDULE 1 NEW MEXICO LOUISIANA WORKING INTEREST TRUST Ownership Summary Xxxxxx, Xxx 31.1305 % Xxxxxxx, Xxxxx 10.3764 % Xxxxxx, Xxxx 16.1712 9.0892 % Xxxxxx, Xxxxxxx 6.2261 % Xxxxx, Xxx 15.5309 5.7521 % Xxxxxx, Xxxxx 5.7313 % Xxxxxxx, Xxxx 5.2580 % Xxxxxx, Xxxx 15.1056 5.1571 % XxxxxxXxxxx, Xxxx 8.6567 Xxx 4.8086 % Xxxxx, Xxx 3.8913 % Xxxxx, Xxxxx 3.3330 % Xxxxxxxxx, Xxxxxxxx 3.0655 % Xxxxxxx, Xxxx 6.1314 2.2894 % Xxxxxxx, Xxxx 1.2393 % Xxxxxxx, Xxx 0.5737 % Xxxxxx, Xxxxxx 0.5213 % Xxxxxxxxxx, Xxxxxx 0.4426 % Xxxxxx, Xxxxxx 0.4208 % Xxxxxx, Xxxxxx 0.3770 % Xxxxx, Xxx 0.1585 % Xxxxxx, Xxxxx 6.0198 % Xxxxxx, Xxxx 5.9006 % Xxxxxx, Xxxx 5.4168 % Xxxxxx, Xxxx 5.4089 % Xxxxx, Xxx 5.0507 % Xxxxxxxxx, Xxxxxxxx 3.2198 % Xxxxxxx, Xxxx 2.4047 % Xxxxx, Xxxxx 2.1970 % Xxxxxxx, Xxx 0.6026 % Xxxxxx, Xxxxxx 0.5475 % Xxxxxxxxxx, Xxxxxx 0.4649 % Xxxxxx, Xxxxxx 0.4419 % Xxxxxx, Xxxxxx 0.3960 % Xxxxx, Xxx 0.1664 % Xxxxxx, Xxxxx 0.1664 0.1584 % 100.0000 %

Independent Conduct. The Trustees, and the Trustor on behalf of all future Unit Owners, hereby reserve and retain the right to engage in all businesses and activities of any kind whatsoever (irrespective of whether the same may be in competition with the Trust), and to receive compensation or profit therefor, for their own respective accounts and without in any manner being obligated to disclose or offer such business and activities or assets or compensation or profit to each other or to the Trust. In Witness Whereof, Trustor and Trustees hereunto set their hands effective as of the day and year first above written. TRUSTOR: XXXXXXX XXXXXXXX ENERGY, INC. By: /Xxxx Xxxxxx TRUSTEES: /s/Xxxxxxx X. Xxxxx Xxxxx/ Xxxxxxx X. Xxxxx /s/Xxxxxx X. Xxxxxx Xxxxxx X. Xxxxxx /s/Jordan X. Xxxxx Xxxxxx Jordan X. Xxxxx SCHEDULE 1 NEW MEXICO WEST TEXAS II WORKING INTEREST TRUST Ownership Summary XxxxxxxXxxxxx, Xxxx 16.1712 Xxxxx 24.8569 % Xxxxx, Xxx 15.5309 20.8551 % Xxxxxx, Xxxx 15.1056 16.8045 % Xxxxxxx, Xxxx 10.4276 % Xxxxx, Xxx 5.7521 % Xxxxxx, Xxxx 8.6567 5.1571 % Xxxxxx, Xxxx 4.8086 % Xxxxxxxxx, Xxxxxxxx 3.0655 % Xxxxxxx, Xxxx 6.1314 2.2894 % Xxxxx, Xxxxx 2.0917 % Xxxxxxx, Xxxx 1.2393 % Xxxxxxx, Xxx 0.5737 % Xxxxxx, Xxxxxx 0.5213 % Xxxxxxxxxx, Xxxxxx 0.4426 % Xxxxxx, Xxxxxx 0.4208 % Xxxxxx, Xxxxxx 0.3770 % Xxxxx, Xxx 0.1585 % Xxxxxx, Xxxxx 6.0198 % Xxxxxx, Xxxx 5.9006 % Xxxxxx, Xxxx 5.4168 % Xxxxxx, Xxxx 5.4089 % Xxxxx, Xxx 5.0507 % Xxxxxxxxx, Xxxxxxxx 3.2198 % Xxxxxxx, Xxxx 2.4047 % Xxxxx, Xxxxx 2.1970 % Xxxxxxx, Xxx 0.6026 % Xxxxxx, Xxxxxx 0.5475 % Xxxxxxxxxx, Xxxxxx 0.4649 % Xxxxxx, Xxxxxx 0.4419 % Xxxxxx, Xxxxxx 0.3960 % Xxxxx, Xxx 0.1664 % Xxxxxx, Xxxxx 0.1664 0.1584 % 100.0000 %

Independent Conduct. The Trustees, and the Trustor on behalf of all future Unit Owners, hereby reserve and retain the right to engage in all businesses and activities of any kind whatsoever (irrespective of whether the same may be in competition with the Trust), and to receive compensation or profit therefor, for their own respective accounts and without in any manner being obligated to disclose or offer such business and activities or assets or compensation or profit to each other or to the Trust. In Witness Whereof, Trustor and Trustees hereunto set their hands effective as of the day and year first above written. TRUSTOR: XXXXXXX XXXXXXXX ENERGY, INC. By: /Xxxx Xxxxxx TRUSTEES: /s//s/ Xxxxxxx X. Xxxxx Xxxxxxx X. Xxxxx /s//s/ Xxxxxx X. Xxxxxx Xxxxxx X. Xxxxxx /s//s/ Jordan X. Xxxxx Xxxxxx Jordan X. Xxxxx SCHEDULE 1 NEW MEXICO EAST TEXAS/CHALK WORKING INTEREST TRUST Ownership Summary XxxxxxxXxxxxx, Xxxxx 19.4281 % Xxxxxx, Xxxx 16.1712 16.3003 % Xxxxx, Xxx 15.5309 16.3003 % Xxxxxxx, Xxxx 8.1502 % Xxxxxxxxx, Xxxxxxxx 7.9495 % Xxxxx, Xxxxx 7.0904 % Xxxxx, Xxx 5.7521 % Xxxxxx, Xxxx 15.1056 5.1571 % XxxxxxXxxxxxx, Xxxx 8.6567 Xxx 3.3160 % Xxxxxxx, Xxxx 6.1314 2.2894 % Xxxxxxx, Xx 2.2198 % Xxxxxxx, Xxxx 1.2393 % Xxxxxxxxxx, Xxx 1.0773 % Xxxxx, Xxxxx 0.8332 % Xxxxx, Xxxxx 0.8184 % Xxxxxx, Xxxxxx 0.5213 % Xxxxxxxxxx, Xxxxxx 0.4426 % Xxxxxx, Xxxxxx 0.4208 % Xxxxxx, Xxxxxx 0.3770 % Xxxxx, Xxx 0.1585 % Xxxxxx, Xxxxx 6.0198 % Xxxxxx, Xxxx 5.9006 % Xxxxxx, Xxxx 5.4168 % Xxxxxx, Xxxx 5.4089 % Xxxxx, Xxx 5.0507 % Xxxxxxxxx, Xxxxxxxx 3.2198 % Xxxxxxx, Xxxx 2.4047 % Xxxxx, Xxxxx 2.1970 % Xxxxxxx, Xxx 0.6026 % Xxxxxx, Xxxxxx 0.5475 % Xxxxxxxxxx, Xxxxxx 0.4649 % Xxxxxx, Xxxxxx 0.4419 % Xxxxxx, Xxxxxx 0.3960 % Xxxxx, Xxx 0.1664 % Xxxxxx, Xxxxx 0.1664 0.1584 % 100.0000 %