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 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 independent members of the Board of Directors or unless such activity is set forth on Exhibit A: (i) during the 90 day period following the Termination Date, in any business or activity which is engaged in leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products within (A) any county or parish in which the Related Parties own any oil and gas interests or conducts operations on the Termination Date or in which the Related Parties have owned any oil and gas interests or conducted operations at any time during the six months immediately preceding the Termination Date or (B) any county or parish adjacent to any county or parish described in clause (A); and (ii) during the one (1) year period following the Termination Date, in any business or activity which is a publicly traded oil and gas income distribution company or partnership or a privately held company or partnership that is contemplating an initial public offering as an oil and gas income distribution company or partnership that is in direct competition with the business of the Related Parties in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products; provided that, this subsection (ii) 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.

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 independent members of the Board of Directors or unless such activity is set forth on Exhibit A: (i) during i. During the 90 90-day period following the Termination Date, in any business or activity which that is engaged in leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products within (A) any county or parish in which the Related Parties own any oil and gas interests or conducts operations on the Termination Date or in which the Related Parties have owned any oil and gas interests or conducted operations at any time during the six months immediately preceding the Termination Date or (B) any county or parish adjacent to any county or parish described in clause (A)a Competing Business; andand/or (ii) during . During the one (1) year year-period following the Termination Date, in any business or activity which is a publicly traded oil and gas income distribution company or partnership or a privately held company or partnership that is contemplating an initial public offering as an oil and gas income distribution company or partnership that is in direct competition with the business of the Related Parties in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products; provided thatprovided, that this subsection (ii) will not preclude the Employee from making investments in securities of oil and gas companies which that are registered on a national stock exchange, 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. iii. 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 7. Further, before taking any employment position with any Competing Business during the two-year period following the Termination Date, Employee agrees to give prior written notice to the Employer of the name of such Competing Business and Employee's intent to take a position with such Competing Business. The Employer shall be entitled to advise such Competing Business of the provisions of Section 7 and to otherwise deal with such Competing Business to ensure that the provisions of Section 7 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 independent members of the Board of Directors or unless such activity is set forth on Exhibit A: (i) during During the 90 90-day period following the Termination Date, in any business or activity which that is engaged in leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products within (A) any county or parish in which the Related Parties own any oil and gas interests or conducts operations on the Termination Date or in which the Related Parties have owned any oil and gas interests or conducted operations at any time during the six months immediately preceding the Termination Date or (B) any county or parish adjacent to any county or parish described in clause (A)a Competing Business; andand/or (ii) during During the one (1) year year-period following the Termination Date, in any business or activity which is a publicly traded oil and gas income distribution company or partnership or a privately held company or partnership that is contemplating an initial public offering as an oil and gas income distribution company or partnership that is in direct competition with the business of the Related Parties in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products; provided thatprovided, that this subsection (ii) will not preclude the Employee from making investments in securities of oil and gas companies which that are registered on a national stock exchange, exchange if (A) the aggregate amount owned by the Employee and all family members and affiliates does not exceed 5% of such company's ’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. (iii) 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 7. Further, before taking any employment position with any Competing Business during the two-year period following the Termination Date, Employee agrees to give prior written notice to the Employer of the name of such Competing Business and Employee’s intent to take a position with such Competing Business. The Employer shall be entitled to advise such Competing Business of the provisions of Section 7 and to otherwise deal with such Competing Business to ensure that the provisions of Section 7 are enforced and duly discharged.

Non-Compete Obligations After Termination Date. The Employee 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 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 independent members of the Board of Directors or unless such activity is set forth on Exhibit A: (i) during the 90 day period following the Termination Date, in any business or activity which is engaged in leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products within (A) any county or parish in which the Related Parties own any oil and gas interests or conducts operations on the Termination Date or in which the Related Parties have owned any oil and gas interests or conducted operations at any time during the six months immediately preceding the Termination Date or (B) any county or parish adjacent to any county or parish described in clause (A); and (ii) during the one (1) year period following the Termination Date, in any business or activity which is a publicly traded oil and gas income distribution company or partnership or a privately held company or partnership that is contemplating an initial public offering as an oil and gas income distribution company or partnership that is in direct competition with the business of the Related Parties in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products; provided that, this subsection (ii) 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 $500,0005,000,000.

Non-Compete Obligations After Termination Date. The Employee 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 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 independent members of the Board of Directors or unless such activity is set forth on Exhibit A: (i) during the 90 day period following the Termination Date, in any business or activity which is engaged in leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products within (A) any county or parish in which the Related Parties own owns any oil and gas interests or conducts operations on the Termination Date or in which the Related Parties have owned any oil and gas interests or conducted operations at any time during the six months immediately preceding the Termination Date or (B) any county or parish adjacent to any county or parish described in clause (A); and (ii) during the one (1) year period following the Termination Date, in any business or activity which is a publicly traded oil and gas income distribution company or partnership or a privately held company or partnership that is contemplating an initial public offering as an oil and gas income distribution company or partnership that is in direct competition with the business of the Related Parties in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products; provided that, this subsection (ii) 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 $500,0005,000,000.

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 independent members of the Board of Directors or unless such activity is set forth on Exhibit A: (i) during During the 90 90-day period following the Termination Date, in any business or activity which that is engaged in leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products within (A) any county or parish in which the Related Parties own any oil and gas interests or conducts operations on the Termination Date or in which the Related Parties have owned any oil and gas interests or conducted operations at any time during the six months immediately preceding the Termination Date or (B) any county or parish adjacent to any county or parish described in clause (A)a Competing Business; andand/or (ii) during During the one (1) year year-period following the Termination Date, in any business or activity which is a publicly traded oil and gas income distribution company or partnership or a privately held company or partnership that is contemplating an initial public offering as an oil and gas income distribution company or partnership that is in direct competition with the business of the Related Parties in the leasing, acquiring, exploring, producing, gathering or marketing of hydrocarbons and related products; provided thatprovided, that this subsection (ii) will not preclude the Employee from making investments in securities of oil and gas companies which that are registered on a national stock exchange, 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. (iii) 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 7. Further, before taking any employment position with any Competing Business during the two-year period following the Termination Date, Employee agrees to give prior written notice to the Employer of the name of such Competing Business and Employee's intent to take a position with such Competing Business. The Employer shall be entitled to advise such Competing Business of the provisions of Section 7 and to otherwise deal with such Competing Business to ensure that the provisions of Section 7 are enforced and duly discharged.