Common use of Non-Competition After Termination from Employment Clause in Contracts

Non-Competition After Termination from Employment. Executive hereby agrees that, in order to protect the Company’s Confidential Information, it is necessary to enter into the following restrictive covenant, which is ancillary to the enforceable promises between the Company and Executive otherwise contained in this Agreement. Executive hereby agrees that Executive shall not at any time during the Restricted Period engage in any capacity, whether as an owner, founder, shareholder, partner, member, lender, advisor, director, consultant, contractor, agent, employee, affiliate or co-venturer, or otherwise, either directly or indirectly, in any commercial enterprise, a primary business of which is to develop, manufacture, sell, lease, or otherwise provide any product, process, apparatus, service or development competitive with or substantially similar to any product, process, apparatus, service, or development sold or provided by the Company or any of its affiliates (“Competitive Products”) on which Executive worked or about which Executive learned Confidential Information while employed by the Company anywhere within Texas, Oklahoma, Argentina, and/or any of the other markets in which the Company or any of its affiliates has sold Competitive Products or formulated a plan to sell Competitive Products into a market during the last twelve (12) months of Executive’s employ. It is understood that the geographical area set forth in this covenant is divisible so that if this clause is invalid or unenforceable in an included geographic area, that area is severable and the clause remains in effect for the remaining included geographic areas in which the clause is valid. For the purpose of this Agreement, “Restricted Period” means a period of six (6) months after termination for any reason whatsoever, whether by Executive or the Company, of Executive’s employment with the Company. The Restricted Period shall commence at the time Executive’s employment with the Company terminates. The parties agree that this agreement of non-competition is intended to be enforceable by the Company only to the extent that Texas law allows such a contractual limitation and it shall be void beyond such permitted limitations.