Common use of Non-Compete Obligations After Termination Date Clause in Contracts

Non-Compete Obligations After Termination Date. The Employee agrees that the Employee will not in the Geographic Area engage or participate in any manner, whether directly or indirectly through any family member or other person or as an employee, employer, consultant, agent principal, partner, more than one percent shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity, unless approved in writing by a majority of the Board or unless such activity is set forth on Exhibit A: During the one (1) year period following the Termination Date, in any business or activity that is a Competing Business; provided, that this subsection (ii) will not preclude the Employee from making investments in securities of oil and gas companies that are registered on a national stock exchange if the aggregate amount owned by the Employee and all family members and affiliates does not exceed 3% of such company’s outstanding securities. During the one (1) year-period following the Termination Date if Employee, in the future, seeks or is offered employment, or any other position or capacity with a Competing Business, Employee agrees to inform each new employer or entity, before accepting employment, of the existence of the restrictions in Section 10. Further, before taking any employment position with any Competing Business during the one-year period following the Termination Date, Employee agrees to give prior written notice to the Company of the name of such Competing Business and Employee’s intent to take a position with such Competing Business. The Company shall be entitled to advise such Competing Business of the provisions of Section 10 and to otherwise deal with such Competing Business to ensure that the provisions of Section 10 are enforced and duly discharged.

Non-Compete Obligations After Termination Date. The Employee agrees that the Employee will not in the Geographic Area engage or participate in any manner, whether directly or indirectly through any family member or other person or as an employee, employer, consultant, agent principal, partner, more than one percent shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity, unless approved in writing by a majority of the Board of Directors or unless such activity is set forth on Exhibit A: During the one (1) year period following the Termination Date, in any business or activity that is a Competing Business; provided, that this subsection (ii) will not preclude the Employee from making investments in securities of oil and gas companies that are registered on a national stock exchange if the aggregate amount owned by the Employee and all family members and affiliates does not exceed 3% of such company’s outstanding securities. During the one (1) year-period following the Termination Date if Employee, in the future, seeks or is offered employment, or any other position or capacity with a Competing Business, Employee agrees to inform each new employer or entity, before accepting employment, of the existence of the restrictions in Section 10. Further, before taking any employment position with any Competing Business during the one-year period following the Termination Date, Employee agrees to give prior written notice to the Company of the name of such Competing Business and Employee’s intent to take a position with such Competing Business. The Company shall be entitled to advise such Competing Business of the provisions of Section 10 and to otherwise deal with such Competing Business to ensure that the provisions of Section 10 are enforced and duly discharged.

Non-Compete Obligations After Termination Date. The Employee agrees You agree that the Employee you will not in the Geographic Area engage or participate in any manner, whether directly or indirectly through any family member or other person or as an employee, employer, consultant, agent principal, partner, more than one percent shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity, unless approved in writing by a majority of the Board or or unless such activity is set forth on Exhibit A: B. During the one (1) year period following the Employment Term (the last day of such Employment Term, the “Termination Date”), in any business or activity that is a Competing Business; provided, that this subsection (iib) will not preclude the Employee you from making investments in securities of oil and gas companies that are registered on a national stock exchange if the aggregate amount owned by the Employee you and all family members and affiliates does not exceed 3% of such company’s outstanding securities. During the one (1) year-period following the Termination Date if Employeeyou, in the future, seeks seek or is are offered employment, or any other position or capacity with a Competing Business, Employee agrees you agree to inform each new employer or entity, before accepting employment, of the existence of the restrictions in Section 10this Agreement. Further, before taking any employment position with any Competing Business during the one-year period following the Termination Date, Employee agrees you agree to give prior written notice to the Company of the name of such Competing Business and Employee’s your intent to take a position with such Competing Business. The Company shall be entitled to advise such Competing Business of the provisions of Section 10 this Agreement and to otherwise deal with such Competing Business to ensure that the provisions of Section 10 this Agreement are enforced and duly discharged.