Common use of Limitation on Competition Clause in Contracts

Limitation on Competition. During the Employment Period, and for an additional period (the "Non-Compete Period") of (i) twenty four (24) months after your termination if you ARE entitled to receive severance compensation pursuant to Section 4 hereof, or (ii) twelve (12) months after your termination if you ARE NOT entitled to receive severance compensation pursuant to Section 4 hereof, you shall not, directly or indirectly, without the prior written consent of the Company, participate or engage in, whether as a director, officer, employee, advisor, lender, consultant, stockholder, partner, joint venturer, owner or in any other capacity, any business engaged in the business of furnishing oilfield services in any of the onshore oil or gas producing regions in the continental United States and Argentina or in any other oil or gas producing region throughout the world in which the Company or any of its subsidiaries conduct their business or operations during the Employment Period or the Non-Compete Period (a "Competing Enterprise"); PROVIDED, HOWEVER, that you shall not be deemed to be participating or engaging in any such business solely by virtue of your ownership of not more than five percent of any class of stock or other securities which is publicly traded on a national securities exchange or in a recognized over-the-counter market. In addition, during the Employment Period and the Non-Compete Period, you shall not, directly or indirectly, solicit, raid, entice or otherwise induce any employee of the Company or any of its subsidiaries to be employed by a Competing Enterprise or to otherwise leave the employ of the Company. You hereby agree and acknowledge that a portion of the consideration to be paid by the Company to you pursuant to this Agreement is consideration for your covenants under this Section 5 and such consideration is fair and adequate whether or not you receive any severance compensation pursuant to Section 4 hereof.

Limitation on Competition. During the Employment Period, and for an additional period (the "Non-Compete Period") of twelve (i) twenty four (2412) months after your termination if termination, whether or not you ARE are entitled to receive severance compensation pursuant to Section 4 hereof, or (ii) twelve (12) months after your termination if you ARE NOT entitled to receive severance compensation pursuant to Section 4 5 hereof, you shall not, directly or indirectly, without the prior written consent of the Company, participate or engage in, whether as a director, officer, employee, advisor, lender, consultant, stockholder, partner, joint venturer, owner or in any other capacity, any business engaged in the business of furnishing oilfield services (including, without limitation, fluid hauling and disposal services, trucking services, frac tank rentals, fishing and rental tools, pressure pumping services, contract drilling, workover, completion and well maintenance, construction and field consulting) in any of the onshore or offshore oil or natural gas producing regions in the continental United States States, Canada, Argentina and Argentina Egypt or in any other oil or natural gas producing region throughout the world in which the Company or any of its subsidiaries or affiliates conduct their business or operations during the Employment Period or the Non-Compete Period (a "Competing Enterprise"); PROVIDEDprovided, HOWEVERhowever, that you shall not be deemed to be participating or engaging in any such business solely by virtue of your ownership of not more than five percent of any class of stock or other securities which is publicly traded on a national securities exchange or in a recognized over-the-counter market. In addition, during the Employment Period and the Non-Compete Period, you shall not, directly or indirectly, (i) solicit, raid, entice or otherwise induce any employee of the Company or any of its subsidiaries or affiliates to be employed by a Competing Enterprise or to otherwise leave the employ of the Company or (ii) hire any former employee of the Company or any of its subsidiaries or affiliates within six months of the termination of such employee's employment with the Company. You hereby agree and acknowledge that (i) you will have access or otherwise learn or obtain during your course of employment with the Company confidential information, which the Company can not adequately protect if you fail to fulfill your obligations under this Section 6, and (ii) a portion of the consideration to be paid by the Company to you pursuant to this Agreement is consideration for your covenants under this Section 5 6 and such consideration is fair and adequate whether or not you receive any severance compensation pursuant to Section 4 5 hereof.

Limitation on Competition. During the Employment Period, and for an additional period (the "Non-Compete Period") of (i) twenty twenty-four (24) months after your termination if you ARE are entitled to receive severance compensation pursuant to Section 4 6 hereof, or (ii) twelve (12) months after your termination if you ARE NOT are not entitled to receive severance compensation pursuant to Section 4 6 hereof, you shall not, directly or indirectly, without the prior written consent of the Company, participate or engage in, whether as a director, officer, employee, advisor, lender, consultant, stockholder, partner, joint venturer, owner or in any other capacity, any business engaged in the business of furnishing oilfield services services, which for the purposes hereof shall include drilling oil and natural gas xxxxx, in any of the onshore oil or natural gas producing regions in the continental United States States, Canada and Argentina or in any other oil or natural gas producing region throughout the world in which the Company or any of its subsidiaries conduct their business or operations during the Employment Period or the Non-Compete Period (a "Competing Enterprise"); PROVIDEDprovided, HOWEVERhowever, that you shall not be deemed to be participating or engaging in any such business solely by virtue of your ownership of not more than five percent of any class of stock or other securities which is publicly traded on a national securities exchange or in a recognized over-the-counter market. ; In addition, during the Employment Period and the Non-Compete Period, you shall not, directly or indirectly, solicit, raid, entice or otherwise induce any employee of the Company or any of its subsidiaries to be employed by a Competing Enterprise or to otherwise leave the employ of the Company. You hereby agree and acknowledge that a portion of the consideration to be paid by the Company to you pursuant to this Agreement is consideration for your covenants under this Section 5 7 and such consideration is fair and adequate whether or not you receive any severance compensation pursuant to Section 4 6 hereof.

Limitation on Competition. During the Employment Period, and for an additional period (the "Non-Compete Period") of (i) twenty four (24) months after your termination if you ARE entitled to receive severance compensation pursuant to Section 4 hereof, or (ii) twelve (12) months after your termination if you ARE NOT entitled to receive severance compensation pursuant to Section 4 hereof, you shall not, directly or indirectly, without the prior written consent of the Company, participate or engage in, whether as a director, officer, employee, advisor, lender, consultant, stockholder, partner, joint venturer, owner or in any other capacity, any business engaged in the business of furnishing oilfield services (which for the purposes hereof shall include drilling oil and gas xxxxx) in any of the onshore oil or gas producing regions in the continental United States and Argentina or in any other oil or gas producing region throughout the world in which the Company or any of its subsidiaries conduct their business or operations during the Employment Period or the Non-Compete Period (a "Competing Enterprise"); PROVIDED, HOWEVER, that you shall not be deemed to be participating or engaging in any such business solely by virtue of your ownership of not more than five percent of any class of stock or other securities which is publicly traded on a national securities exchange or in a recognized over-the-counter market. In addition, during the Employment Period and the Non-Compete Period, you shall not, directly or indirectly, solicit, raid, entice or otherwise induce any employee of the Company or any of its subsidiaries to be employed by a Competing Enterprise or to otherwise leave the employ of the Company. You hereby agree and acknowledge that a portion of the consideration to be paid by the Company to you pursuant to this Agreement is consideration for your covenants under this Section 5 and such consideration is fair and adequate whether or not you receive any severance compensation pursuant to Section 4 hereof.

Limitation on Competition. During the Employment Period, and for an additional period (the "Non-Compete Period") of (i) twenty twenty-four (24) months after your termination if you ARE are entitled to receive severance compensation pursuant to Section 4 hereof, or (ii) twelve (12) months after your termination termination, if you ARE NOT are not entitled to receive severance compensation pursuant to Section 4 hereof, you shall not, directly or indirectly, without the prior written consent of the Company, participate or engage in, whether as a director, officer, employee, advisor, lender, consultant, stockholder, partner, joint venturer, owner or in any other capacity, any business engaged in the business of furnishing oilfield services (including, without limitation, fluid hauling and disposal services, trucking services, frac tank rentals, fishing and rental tools, pressure pumping services, contract drilling, workover, completion and well maintenance, construction and field consulting) in any of the onshore or offshore oil or natural gas producing regions in the continental United States States, Canada, Argentina and Argentina Egypt or in any other oil or natural gas producing region throughout the world in which the Company or any of its subsidiaries or affiliates conduct their business or operations during the Employment Period or the Non-Compete Period (a "Competing Enterprise"); PROVIDEDprovided, HOWEVERhowever, that you shall not be deemed to be participating or engaging in any such business solely by virtue of your ownership of not more than five percent of any class of stock or other securities which is publicly traded on a national securities exchange or in a recognized over-the-counter market. In addition, during the Employment Period and the Non-Compete Period, you shall not, directly or indirectly, (i) solicit, raid, entice or otherwise induce any employee of the Company or any of its subsidiaries or affiliates to be employed by a Competing Enterprise or to otherwise leave the employ of the Company or (ii) hire any former employee of the Company or any of its subsidiaries or affiliates within six months of the termination of such employee's employment with the Company. You hereby agree and acknowledge that (i) you will have access or otherwise learn or obtain during your course of employment with the Company confidential information, which the Company can not adequately protect if you fail to fulfill your obligations under this Section 5, and (ii) a portion of the consideration to be paid by the Company to you pursuant to this Agreement is consideration for your covenants under this Section 5 and such consideration is fair and adequate whether or not you receive any severance compensation pursuant to Section 4 hereof.

Limitation on Competition. During the Employment Period, and for an additional period (the "Non-Compete Period") of (i) twenty four (24) months after your termination if you ARE entitled to receive severance compensation pursuant to Section 4 hereof, or (ii) twelve (12) months after your termination if whether or not you ARE NOT are entitled to receive severance compensation pursuant to Section 4 6 hereof, you shall not, directly or indirectly, without the prior written consent of the Company, participate or engage in, whether as a director, officer, employee, advisor, lender, consultant, stockholder, partner, joint venturer, owner or in any other capacity, any business engaged in the business of furnishing oilfield services (including, without limitation, fluid hauling and disposal services, trucking services, frac tank rentals, fishing and rental tools, pressure pumping services, contract drilling, workover, completion and well maintenance, construction and field consulting) in any of the onshore or offshore oil or natural gas producing regions in the continental United States States, Canada, Argentina and Argentina Egypt or in any other oil or natural gas producing region throughout the world in which the Company or any of its subsidiaries or affiliates conduct their business or operations during the Employment Period or the Non-Compete Period (a "Competing Enterprise"); PROVIDEDprovided, HOWEVERhowever, that you shall not be deemed to be participating or engaging in any such business solely by virtue of your ownership of not more than five percent of any class of stock or other securities which is publicly traded on a national securities exchange or in a recognized over-the-counter market. In addition, during the Employment Period and the Non-Compete Period, you shall not, directly or indirectly, ,solicit, raid, entice or otherwise induce any employee of the Company or any of its subsidiaries or affiliates to be employed by a Competing Enterprise or to otherwise leave the employ of the Company. You hereby agree and acknowledge that (i) you will have access or otherwise learn or obtain during your course of employment with the Company confidential information, which the Company can not adequately protect if you fail to fulfill your obligations under this Section 7, and (ii) a portion of the consideration to be paid by the Company to you pursuant to this Agreement is consideration for your covenants under this Section 5 7 and such consideration is fair and adequate whether or not you receive any severance compensation pursuant to Section 4 6 hereof.