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

Non-Compete Obligations After Termination Date. The Employee agrees that some restrictions on the Employee’s activities after the Employee’s employment are necessary to protect the goodwill, Confidential Information, and other legitimate interests of the Company and its direct and indirect subsidiaries. Following the Effective Date, the Company will provide the Employee with access to and knowledge of Confidential Information and trade secrets and will place the Employee in a position of trust and confidence with the Company, and the Employee will benefit from the Company’s goodwill. The restrictive covenants below are necessary to protect the Company’s legitimate business interests in its Confidential Information, trade secrets and goodwill. The Employee further understands and acknowledges that the Company’s ability to reserve these for the exclusive knowledge and use of the Company is of great competitive importance and commercial value to the Company and that the Company would be irreparably harmed if the Employee violates the restrictive covenants below. In recognition of the consideration provided to the Employee as well as the imparting to the Employee of Confidential Information, including trade secrets, and for other good and valuable consideration, the Employee hereby agrees that the Employee will not 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 1% shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity during the one year period following the Termination Date, in any business or activity which is in direct competition with the business of the Company or its direct or indirect subsidiaries in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products within the boundaries of, or within a two-mile radius of the boundaries of, any mineral property interest of any of the Company or its direct or indirect subsidiaries (including, without limitation, a mineral lease, overriding royalty interest, production payment, net profits interest, mineral fee interest or option or right to acquire any of the foregoing, or an area of mutual interest as designated pursuant to contractual agreements between the Company and any third party) or any other property on which any of the Company or its direct or indirect subsidiaries has an option, right, license or authority to conduct or direct exploratory activities, such as three-dimensional seismic acquisition or other seismic, geophysical and geochemical activities (but not including any preliminary geological mapping), as of the Termination Date or as of the end of the six-month period following such Termination Date; provided that, this Section 7.3(b) will not preclude the Employee from making investments in securities of oil and gas companies which are registered on a national stock exchange, if (A) the aggregate amount owned by the Employee and all family members and affiliates does not exceed 5% of such company’s outstanding securities, and (B) the aggregate amount invested in such investments by the Employee and all family members and affiliates after the date hereof does not exceed $500,000. Notwithstanding the foregoing, nothing in this Section 7.3 shall be deemed to restrain the participation by the Employee’s spouse in any capacity set forth above in any business or activity described above.

Non-Compete Obligations After Termination Date. The Employee Executive agrees that some restrictions on the EmployeeExecutive’s activities after the EmployeeExecutive’s employment are necessary to protect the goodwill, Confidential Information, and other legitimate interests of the Company Company, Xxxxx Petroleum, and its their direct and indirect subsidiaries. Following The Company has and following the Effective Date, Date the Company will provide the Employee Executive with access to and knowledge of Confidential Information and trade secrets and will place the Employee Executive in a position of trust and confidence with the Company, and the Employee Executive will benefit from the Company’s goodwill. The restrictive covenants below are necessary to protect the Company’s and Xxxxx Petroleum’s legitimate business interests in its their Confidential Information, trade secrets and goodwill. The Employee Executive further understands and acknowledges that the Company’s and Xxxxx Petroleum’s ability to reserve these for the exclusive knowledge and use of the Company and Xxxxx Petroleum is of great competitive importance and commercial value to the Company and Xxxxx Petroleum and that the Company and Xxxxx Petroleum would be irreparably harmed if the Employee Executive violates the restrictive covenants below. In recognition of the consideration provided to the Employee Executive as well as the imparting to the Employee Executive of Confidential Information, including trade secrets, and for other good and valuable consideration, the Employee Executive hereby agrees that Executive will not, during the Employee will not Restricted Period, engage or participate in any manner, whether directly or indirectly, through any family member or other person or indirectly as an employee, employer, consultant, agent principal, partner, more than 1% shareholder, officer, director, licensor, lender, lessor lessor, or in any other individual or representative capacity during the one year period following the Termination Datecapacity, in any business or activity which is in direct competition with the business of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries subsidiaries, in each case in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products within the boundaries of, or within a twoten-mile radius of the boundaries of, any mineral property interest of any of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries (including, without limitation, a mineral lease, overriding royalty interest, production payment, net profits interest, mineral fee interest or option or right to acquire any of the foregoing, or an area of mutual interest as designated pursuant to contractual agreements between the Company or any direct or indirect subsidiary, and any third party) or any other property on which any of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries has an option, right, license or authority to conduct or direct exploratory activities, such as three-dimensional seismic acquisition or other seismic, geophysical and geochemical activities (but not including any preliminary geological mapping), as of the Termination Date or as of the end of the six-month period following such Termination Date; provided provided, that, this Section 7.3(b) will not preclude the Employee Executive from making investments in securities of oil and gas companies which are registered on a national stock exchange, if (A) the aggregate amount owned by the Employee Executive and all family members and affiliates does not exceed 53% of such company’s outstanding securities, and (B) the aggregate amount invested in such investments by the Employee and all family members and affiliates after the date hereof does not exceed $500,000. Notwithstanding the foregoing, nothing in this Section 7.3 shall be deemed to restrain the participation by the Employee’s spouse in any capacity set forth above in any business or activity described above.

Non-Compete Obligations After Termination Date. The Employee Executive agrees that some restrictions on the EmployeeExecutive’s activities after the EmployeeExecutive’s employment are necessary to protect the goodwill, Confidential Information, and other legitimate interests of the Company Company, Xxxxx Corporation, and its their direct and indirect subsidiaries. Following The Company has provided and following the Effective Date, Date the Company will provide the Employee Executive with access to and knowledge of Confidential Information and trade secrets and will place the Employee Executive in a position of trust and confidence with the Company, and the Employee Executive will benefit from (and help develop) the Company’s goodwill. The restrictive covenants below are necessary to protect the Company’s and Xxxxx Corporation’s legitimate business interests in its their Confidential Information, trade secrets and goodwill. The Employee Executive further understands and acknowledges that the Company’s and Xxxxx Corporation’s ability to reserve these for the exclusive knowledge and use of the Company and Xxxxx Corporation is of great competitive importance and commercial value to the Company and Xxxxx Corporation and that the Company and Xxxxx Corporation would be irreparably harmed if the Employee Executive violates the restrictive covenants belowherein. In recognition As a condition of Executive’s continued employment hereunder and the consideration provided to the Employee as well as the continued imparting to the Employee Executive of Confidential Information, including trade secrets, and for other good and valuable consideration, the Employee Executive hereby agrees that the Employee Executive will not engage or participate in any manner, whether directly or indirectly, through any family member or other person or indirectly as an employee, employer, consultant, agent principal, partner, more than 1% shareholder, officer, director, licensor, lender, lessor lessor, or in any other individual or representative capacity during the one two-year period following the Termination Date, in any business or activity which is in direct competition with the business of the Company Company, Xxxxx Corporation, or its their direct or indirect subsidiaries subsidiaries, in each case in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products within the boundaries of, or within a twoten-mile radius of the boundaries of, any mineral property interest of any of the Company Company, Xxxxx Corporation, or its their direct or indirect subsidiaries (including, without limitation, a mineral lease, overriding royalty interest, production payment, net profits interest, mineral fee interest or option or right to acquire any of the foregoing, or an area of mutual interest as designated pursuant to contractual agreements between the Company or any direct or indirect subsidiary, and any third party) or any other property on which any of the Company Company, Xxxxx Corporation, or its their direct or indirect subsidiaries has an option, right, license or authority to conduct or direct exploratory activities, such as three-dimensional seismic acquisition or other seismic, geophysical and geochemical activities (but not including any preliminary geological mapping), as of the Termination Date or as of the end of the six-month period following such Termination Date; provided provided, that, this Section 7.3(b) will not preclude the Employee from making investments in securities of oil and gas companies which are registered on a national stock exchange, if (A) the aggregate amount owned by the Employee and all family members and affiliates does not exceed 5% of such company’s outstanding securities, and (B) the aggregate amount invested in such investments by the Employee and all family members and affiliates after the date hereof does not exceed $500,000. Notwithstanding the foregoing, nothing in this this Section 7.3 shall 7.3(a) will be deemed to restrain the participation by the Employee’s spouse in prohibit Executive from owning, or otherwise having an interest in, less than 3% of any capacity set forth above publicly owned entity or 3% or less of any private equity fund or similar investment fund that invests in any business or activity described engaged in any of the activities set forth above, provided that Executive has no active role with respect to any investment by such fund in any entity.

Non-Compete Obligations After Termination Date. 9 The Employee agrees that some restrictions on the Employee’s activities after the Employee’s employment are necessary to protect the goodwill, Confidential Information, and other legitimate interests of the Company and its direct and indirect subsidiaries. Following the Effective Date, the Company will provide the Employee with access to and knowledge of Confidential Information and trade secrets and will place the Employee in a position of trust and confidence with the Company, and the Employee will benefit from the Company’s goodwill. The restrictive covenants below are necessary to protect the Company’s legitimate business interests in its Confidential Information, trade secrets and goodwill. The Employee further understands and acknowledges that the Company’s ability to reserve these for the exclusive knowledge and use of the Company is of great competitive importance and commercial value to the Company and that the Company would be irreparably harmed if the Employee violates the restrictive covenants below. In recognition of the consideration provided to the Employee as well as the imparting to the Employee of Confidential Information, including trade secrets, and for other good and valuable consideration, the Employee hereby agrees that the Employee will not 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 1% shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity during the one year period following the Termination Date, in any business or activity which is in direct competition with the business of the Company or its direct or indirect subsidiaries in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products within the boundaries of, or within a two-mile radius of the boundaries of, any mineral property interest of any of the Company or its direct or indirect subsidiaries (including, without limitation, a mineral lease, overriding royalty interest, production payment, net profits interest, mineral fee interest or option or right to acquire any of the foregoing, or an area of mutual interest as designated pursuant to contractual agreements between the Company and any third party) or any other property on which any of the Company or its direct or indirect subsidiaries has an option, right, license or authority to conduct or direct exploratory activities, such as three-dimensional seismic acquisition or other seismic, geophysical and geochemical activities (but not including any preliminary geological mapping), as of the Termination Date or as of the end of the six-month period following such Termination Date; provided that, this Section 7.3(b) will not preclude the Employee from making investments in securities of oil and gas companies which are registered on a national stock exchange, if (A) the aggregate amount owned by the Employee and all family members and affiliates does not exceed 5% of such company’s outstanding securities, and (B) the aggregate amount invested in such investments by the Employee and all family members and affiliates after the date hereof does not exceed $500,000. Notwithstanding the foregoing, nothing in this Section 7.3 shall be deemed to restrain the participation by the Employee’s spouse in any capacity set forth above in any business or activity described above.

Non-Compete Obligations After Termination Date. The Employee Executive agrees that some restrictions on the EmployeeExecutive’s activities after the EmployeeExecutive’s employment are necessary to protect the goodwill, Confidential Information, and other legitimate interests of the Company Company, Xxxxx Petroleum, and its their direct and indirect subsidiaries. Following The Company has and following the Effective Date, Date the Company will provide the Employee Executive with access to and knowledge of Confidential Information and trade secrets and will place the Employee Executive in a position of trust and confidence with the Company, and the Employee Executive will benefit from the Company’s goodwill. The restrictive covenants below are necessary to protect the Company’s and Xxxxx Petroleum’s legitimate business interests in its their Confidential Information, trade secrets and goodwill. The Employee Executive further understands and acknowledges that the Company’s and Xxxxx Petroleum’s ability to reserve these for the exclusive knowledge and use of the Company and Xxxxx Petroleum is of great competitive importance and commercial value to the Company and Xxxxx Petroleum and that the Company and Xxxxx Petroleum would be irreparably harmed if the Employee Executive violates the restrictive covenants below. In recognition of the consideration provided to the Employee Executive as well as the imparting to the Employee Executive of Confidential Information, including trade secrets, and for other good and valuable consideration, the Employee Executive hereby agrees that the Employee Executive will not engage or participate in any manner, whether directly or indirectly, through any family member or other person or indirectly as an employee, employer, consultant, agent principal, partner, more than 1% shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity during the one two year period following the Termination Date, in any business or activity which is in direct competition with the business of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products within the boundaries of, or within a twoten-mile radius of the boundaries of, any mineral property interest of any of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries (including, without limitation, a mineral lease, overriding royalty interest, production payment, net profits interest, mineral fee interest or option or right to acquire any of the foregoing, or an area of mutual interest as designated pursuant to contractual agreements between the Company or any direct or indirect subsidiary, and any third party) or any other property on which any of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries has an option, right, license or authority to conduct or direct exploratory activities, such as three-dimensional seismic acquisition or other seismic, geophysical and geochemical activities (but not including any preliminary geological mapping), as of the Termination Date or as of the end of the six-month period following such Termination Date; provided provided, that, this Section 7.3(b) will not preclude the Employee Executive from making investments in securities of oil and gas companies which are registered on a national stock exchange, if (A) the aggregate amount owned by the Employee Executive and all family members and affiliates does not exceed 53% of such company’s outstanding securities, and (B) the aggregate amount invested in such investments by the Employee and all family members and affiliates after the date hereof does not exceed $500,000. Notwithstanding the foregoing, nothing in this Section 7.3 shall be deemed to restrain the participation by the Employee’s spouse in any capacity set forth above in any business or activity described above.

Non-Compete Obligations After Termination Date. The Employee Executive agrees that some restrictions on the EmployeeExecutive’s activities after the EmployeeExecutive’s employment are necessary to protect the goodwill, Confidential Information, and other legitimate interests of the Company Company, Xxxxx Corporation, and its their direct and indirect subsidiaries. Following The Company has provided, and following the Effective Date, Date the Company will provide the Employee provide, Executive with access to and knowledge of Confidential Information and trade secrets and will place the Employee Executive in a position of trust and confidence with the Company, and the Employee Executive will benefit from (and help develop) the Company’s goodwill. The restrictive covenants below are necessary to protect the Company’s and Xxxxx Corporation’s legitimate business interests in its their Confidential Information, trade secrets and goodwill. The Employee Executive further understands and acknowledges that the Company’s and Xxxxx Corporation’s ability to reserve these for the exclusive knowledge and use of the Company and Xxxxx Corporation is of great competitive importance and commercial value to the Company and Xxxxx Corporation and that the Company and Xxxxx Corporation would be irreparably harmed if the Employee Executive violates the restrictive covenants belowherein. In recognition As a condition of Executive’s continued employment hereunder and the consideration provided to the Employee as well as the continued imparting to the Employee Executive of Confidential Information, including trade secrets, and for other good and valuable consideration, the Employee Executive hereby agrees that the Employee Executive will not engage or participate in any manner, whether directly or indirectly, through any family member or other person or indirectly as an employee, employer, consultant, agent principal, partner, more than 1% shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity during the one two-year period following the Termination Date, in any business or activity which is in direct competition with the business of the Company Company, Xxxxx Corporation, or its their direct or indirect subsidiaries in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products within the boundaries of, or within a twoten-mile radius of the boundaries of, any mineral property interest of any of the Company Company, Xxxxx Corporation, or its their direct or indirect subsidiaries (including, without limitation, a mineral lease, overriding royalty interest, production payment, net profits interest, mineral fee interest or option or right to acquire any of the foregoing, or an area of mutual interest as designated pursuant to contractual agreements between the Company or any direct or indirect subsidiary, and any third party) or any other property on which any of the Company Company, Xxxxx Corporation, or its their direct or indirect subsidiaries has an option, right, license or authority to conduct or direct exploratory activities, such as three-dimensional seismic acquisition or other seismic, geophysical and geochemical activities (but not including any preliminary geological mapping), as of the Termination Date or as of the end of the six-month period following such Termination Date; provided provided, that, nothing in this Section 7.3(b) will not preclude the Employee from making investments in securities of oil and gas companies which are registered on a national stock exchange, if (A) the aggregate amount owned by the Employee and all family members and affiliates does not exceed 5% of such company’s outstanding securities, and (B) the aggregate amount invested in such investments by the Employee and all family members and affiliates after the date hereof does not exceed $500,000. Notwithstanding the foregoing, nothing in this Section 7.3 shall be deemed to restrain the participation by the Employee’s spouse in prohibit Executive from owning, or otherwise having an interest in, less than 3% of any capacity set forth above publicly owned entity or 3% or less of any private equity fund or similar investment fund that invests in any business or activity described engaged in any of the activities set forth above, provided that Executive has no active role with respect to any investment by such fund in any entity.

Non-Compete Obligations After Termination Date. The Employee Executive agrees that some restrictions on the EmployeeExecutive’s activities after the EmployeeExecutive’s employment are necessary to protect the goodwill, Confidential Information, and other legitimate interests of the Company Company, Xxxxx Petroleum, and its their direct and indirect subsidiaries. Following The Company has and following the Effective Date, Date the Company will provide the Employee Executive with access to and knowledge of Confidential Information and trade secrets and will place the Employee Executive in a position of trust and confidence with the Company, and the Employee Executive will benefit from the Company’s goodwill. The restrictive covenants below are necessary to protect the Company’s and Xxxxx Petroleum’s legitimate business interests in its their Confidential Information, trade secrets and goodwill. The Employee Executive further understands and acknowledges that the Company’s and Xxxxx Petroleum’s ability to reserve these for the exclusive knowledge and use of the Company and Xxxxx Petroleum is of great competitive importance and commercial value to the Company and Xxxxx Petroleum and that the Company and Xxxxx Petroleum would be irreparably harmed if the Employee Executive violates the restrictive covenants below. In recognition of the consideration provided to the Employee Executive as well as the imparting to the Employee Executive of Confidential Information, including trade secrets, and for other good and valuable consideration, the Employee Executive hereby agrees that Executive will not, during the Employee will not Restricted Period, engage or participate in any manner, whether directly or indirectly, through any family member or other person or indirectly as an employee, employer, consultant, agent principal, partner, more than 1% shareholder, officer, director, licensor, lender, lessor lessor, or in any other individual or representative capacity during the one year period following the Termination Datecapacity, in any business or activity which is in direct competition with the business of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries subsidiaries, in each case in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products within the boundaries of, or within a twoten-mile radius of the boundaries of, any mineral property interest of any of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries (including, without limitation, a mineral lease, overriding royalty interest, production payment, net profits interest, mineral fee interest or option or right to acquire any of the foregoing, or an area of mutual interest as designated pursuant to contractual agreements between the Company or any direct or indirect subsidiary, and any third party) or any other property on which any of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries has an option, right, license or authority to conduct or direct exploratory activities, such as three-dimensional seismic acquisition or other seismic, geophysical and geochemical activities (but not including any preliminary geological mapping), as of the Termination Date or as of the end of the six-month period following such Termination Date; provided provided, that, this Section 7.3(b) will not preclude the Employee Executive from making investments in securities of oil and gas companies which are registered on a national stock exchange, if (A) the aggregate amount owned by the Employee Executive and all family members and affiliates does not exceed 53% of such company’s outstanding securities, ; and (B) will not preclude Executive from engaging in thee practice of law if doing so otherwise complies with ethical rules applicable to attorneys and the aggregate amount invested in such investments by the Employee provisions of Sections 7.1 and all family members and affiliates after the date hereof does not exceed $500,000. Notwithstanding the foregoing, nothing in this Section 7.3 shall be deemed to restrain the participation by the Employee’s spouse in any capacity set forth above in any business or activity described above7.2 herein.

Non-Compete Obligations After Termination Date. The Employee Executive agrees that some restrictions on the EmployeeExecutive’s activities after the EmployeeExecutive’s employment are necessary to protect the goodwill, Confidential Information, and other legitimate interests of the Company Company, Xxxxx Petroleum, and its their direct and indirect subsidiaries. Following The Company has and following the Effective Date, Date the Company will provide the Employee Executive with access to and knowledge of Confidential Information and trade secrets and will place the Employee Executive in a position of trust and confidence with the Company, and the Employee Executive will benefit from the Company’s goodwill. The restrictive covenants below are necessary to protect the Company’s and Xxxxx Petroleum’s legitimate business interests in its their Confidential Information, trade secrets and goodwill. The Employee Executive further understands and acknowledges that the Company’s and Xxxxx Petroleum’s ability to reserve these for the exclusive knowledge and use of the Company and Xxxxx Petroleum is of great competitive importance and commercial value to the Company and Xxxxx Petroleum and that the Company and Xxxxx Petroleum would be irreparably harmed if the Employee Executive violates the restrictive covenants below. In recognition of the consideration provided to the Employee Executive as well as the imparting to the Employee Executive of Confidential Information, including trade secrets, and for other good and valuable consideration, the Employee Executive hereby agrees that Executive will not, during the Employee will not Restricted Period (as defined in Section 8.4), engage or participate in any manner, whether directly or indirectly, through any family member or other person or indirectly as an employee, employer, consultant, agent principal, partner, more than 1% shareholder, officer, director, licensor, lender, lessor lessor, or in any other individual or representative capacity during the one year period following the Termination Datecapacity, in any business or activity which is in direct competition with the business of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries subsidiaries, in each case in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products within the boundaries of, or within a twoten-mile radius of the boundaries of, any mineral property interest of any of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries (including, without limitation, a mineral lease, overriding royalty interest, production payment, net profits interest, mineral fee interest or option or right to acquire any of the foregoing, or an area of mutual interest as designated pursuant to contractual agreements between the Company or any direct or indirect subsidiary, and any third party) or any other property on which any of the Company Company, Xxxxx Petroleum, or its their direct or indirect subsidiaries has an option, right, license or authority to conduct or direct exploratory activities, such as three-dimensional seismic acquisition or other seismic, geophysical and geochemical activities (but not including any preliminary geological mapping), as of the Termination Date or as of the end of the six-month period following such Termination Date; provided provided, that, this Section 7.3(b) will not preclude the Employee Executive from making investments in securities of oil and gas companies which are registered on a national stock exchange, if (A) the aggregate amount owned by the Employee Executive and all family members and affiliates does not exceed 53% of such company’s outstanding securities, and (B) the aggregate amount invested in such investments by the Employee and all family members and affiliates after the date hereof does not exceed $500,000. Notwithstanding the foregoing, nothing in this Section 7.3 shall be deemed to restrain the participation by the Employee’s spouse in any capacity set forth above in any business or activity described above.