Common use of Noncompete Agreement Clause in Contracts

Noncompete Agreement. For a period of three (3) years following the Closing, each Shareholder will not, individually or in concert with any other person or entity, directly or indirectly, whether as an owner, member, partner, officer, employee, director, trustee, stockholder (except of not more that not percent (1%) of the outstanding stock of any company purchased for investment purposes only), agent, manager, consultant, associate, or otherwise, own, manage, operate, join, control, finance, organize, participate in, work for, permit the use of his name by, or be connected in any manner with any business activity within the United States or the Province of Alberta, Canada which is competitive with any aspect of the business of Builders so long as Builders carries on such business. It is intended that the covenant contained in this paragraph shall be deemed to be a series of separate covenants, one for each county in the United States. Except for geographic coverage, each such separate covenant contained shall be deemed identical in terms with the covenant contained in this paragraph. If in any judicial proceeding, a court should refuse to enforce all of the separate covenants deemed included in paragraph (A) because, taken together, they cover too extensive a geographic area, it is intended that those of such covenants which, if eliminated, would permit the remaining separate covenants to be enforced in such proceeding, shall, for the purpose of such proceeding, be deemed eliminated for the provisions hereof. In the event of a breach or threatened breach of this Section, Buyer shall be entitled to an injunction restraining such breach, without the requirement of posting bond; but nothing here shall be construed as prohibiting Buyer from pursuing any other remedy available to it as a result of such breach or threatened breach.

Noncompete Agreement. For a period Subject to the terms and conditions of three the attached Work for Hire Agreement (3) years following the ClosingExhibit A), each Shareholder will not, individually or in concert with any other person or entity, directly or indirectly, whether as an owner, member, partner, officer, employee, director, trustee, stockholder (except of not more that not percent than one (1%) percent of the outstanding stock of any company purchased for investment purposes only), agent, manager, consultant, associate, or otherwise, own, manage, manage operate, join, control, finance, organize, participate in, work for, permit the use of his his/her name by, or be connected in any manner with any business activity within the United States or the Province of Alberta, Canada which is competitive with any aspect of the business of Builders LLC so long as Builders LLC carries on such business, whether under its current name or otherwise. It is intended that the covenant contained in this paragraph shall be deemed to be a series of separate covenants, one for each county in the United States. Except for geographic coverage, each such separate covenant contained shall be deemed identical in terms with the covenant contained in this paragraph. If in any judicial proceeding, a court should refuse to enforce all of the separate covenants deemed included in this paragraph (A) because, taken together, they cover too extensive a geographic area, it is intended that those of such covenants which, if eliminated, would permit the court to enforce the remaining separate covenants to be enforced in such proceeding, and shall, for the purpose of such proceeding, be deemed eliminated for the provisions hereof. hereof In the event of a breach or threatened breach of this Section, Buyer shall be entitled to an injunction restraining such breach, without the requirement of posting bond; but nothing here herein shall be construed as prohibiting Buyer from pursuing any other remedy available to it as a result of such breach or threatened breach.

Noncompete Agreement. For You hereby agree that, during the period commencing as of your Separation Date and ending as of the second anniversary of your Separation Date, in the areas of Azerbaijan, Kuwait, the Raton Basin in Colorado and New Mexico, and for businesses related to carbon dioxide (CO2) transportation, marketing, processing, and tertiary recovery projects in the Permian Basin of West Texas and Southeast New Mexico (the "Relevant Geographic Area") you will not (i) accept employment or render service to any person that is engaged in a period business directly competitive with the business then engaged in by the Company or any of three its affiliates or (3ii) years following the Closingenter into or take part in or lend your name as principal, each Shareholder will not, individually or in concert with any other person or entity, directly or indirectly, whether as an owner, member, partnerdirector, officer, employeeexecutive, directorindependent contractor, trusteepartner or advisor, stockholder (except of not more or accept employment for any purpose that not percent (1%) would be competitive with the business of the outstanding stock Company or any of any company purchased for investment purposes onlyits affiliates (all of the foregoing activities are collectively referred to as the "Prohibited Activity"); provided, agenthowever, manager, consultant, associate, or otherwise, own, manage, operate, join, control, finance, organize, participate in, work for, permit the use you may serve as a director of his name by, or be connected in any manner with any a business activity within the United States or the Province of Alberta, Canada which that is competitive with the Company in the Relevant Geographic Area, if you and such business agree that you cannot and will not as a director act or otherwise advise that business on any aspect matter involving the Relevant Geographic Area. It shall not be considered a violation of this Agreement for you to be a passive investor in any enterprise that might be viewed as a competitor of the business Company. In addition to all other remedies at law or in equity which the Company may have for breach of Builders so long a provision of this paragraph 3, it is agreed that in the event of any breach or attempted or threatened breach of any such provision, the Company shall be entitled, upon application to any court of proper jurisdiction, to a temporary restraining order or preliminary injunction (without the necessity of (i) proving irreparable harm, (ii) establishing that monetary damages are inadequate or (iii) posting any bond with respect thereto) against you prohibiting such breach or attempted or threatened breach by proving only the existence of such breach or attempted or threatened breach. If the provisions of this paragraph 3 should ever be deemed to exceed the time, geographic or occupational limitations permitted by the applicable law, you and the Company agree that such provisions shall be and are hereby reformed to the maximum time, geographic or occupational limitations permitted by the applicable law. You acknowledge, agree and stipulate that: (i) the terms and provisions of this agreement are reasonable and constitute an otherwise enforceable agreement to which the terms and provisions of this paragraph are ancillary or a part of as Builders carries on such businesscontemplated by Tex. It Bus. & Com. Code Xxx. (S)(S) 15.50-15.52, or any successor provisions; (ii) the consideration provided by the Company under this agreement is intended that not illusory; and (iii) the consideration given by the Company under this agreement, gives rise to the Company's interest in restraining and prohibiting you from engaging in the Prohibited Activity within the Relevant Geographic Area as provided under this paragraph 3, and your covenant contained not to engage in the Prohibited Activity within the Relevant Geographic Area pursuant to this paragraph 3 is designed to enforce your consideration (or return promises). The failure of the agreements in this paragraph shall be deemed to be not constitute a series of separate covenants, one for each county in the United States. Except for geographic coverage, each such separate covenant contained shall be deemed identical in terms with the covenant contained in this paragraph. If in any judicial proceeding, a court should refuse to enforce all of the separate covenants deemed included in paragraph (A) because, taken together, they cover too extensive a geographic area, it is intended that those of such covenants which, if eliminated, would permit the remaining separate covenants to be enforced in such proceeding, shall, for the purpose of such proceeding, be deemed eliminated for the provisions hereof. In the event of a breach or threatened breach of this SectionAgreement. If the Company initiates a judicial proceeding against you to enforce this paragraph 3 and the Company does not prevail in whole or part, Buyer the Company shall be entitled to an injunction restraining such breach, without the requirement of posting bond; but nothing here shall be construed as prohibiting Buyer from pursuing any other remedy available to it as a result of such breach or threatened breachpay your reasonable attorney's fees.