Common use of Nondisclosure and Noncompetition Clause in Contracts

Nondisclosure and Noncompetition. As an inducement to the Company to enter into this Agreement, the Executive represents to and covenants with or in favor of the Company his compliance with the restrictive covenants in Sections 5 through 13, as a condition to the Company's obligation to continue to provide severance benefits to Executive under Section 3 and to make Gross- Up Payments to the Executive under Section 14. The Company may refuse to continue providing those severance benefits or to make any Gross-Up Payment if there is demonstrable noncompliance by Executive, as reasonably determined in good faith by the Compensation Committee with notice to Executive and 30 days to appeal such decision to the Compensation Committee.

Appears in 4 contracts

Samples: Control Executive Severance Agreement (Delta Petroleum Corp/Co), Control Executive Severance Agreement (Delta Petroleum Corp/Co), Control Executive Severance Agreement (Delta Petroleum Corp/Co)

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Nondisclosure and Noncompetition. As an inducement to the Company to enter into this Agreement, the Executive represents to and covenants with or in favor of the Company his compliance with the restrictive covenants in Sections 5 through 13, as a condition to the Company's obligation to continue to provide severance benefits to Executive under Section 3 and to make Gross- Gross-Up Payments to the Executive under Section 14. The ; the Company may refuse to continue providing those severance benefits or to make any Gross-Up Payment if there is demonstrable noncompliance by Executive, as reasonably determined in good faith by the Compensation Committee with notice to Executive and 30 days to appeal such decision to the Compensation Committee.

Appears in 3 contracts

Samples: Control Executive Severance Agreement (Delta Petroleum Corp/Co), Control Executive Severance Agreement (Delta Petroleum Corp/Co), Control Executive Severance Agreement (Delta Petroleum Corp/Co)

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Nondisclosure and Noncompetition. As an inducement to the Company to enter into this Agreement, the Executive represents to and covenants with or in favor of the Company his compliance with the restrictive covenants in Sections 5 through 13, as a condition to the Company's obligation to continue to provide severance benefits to Executive under Section 3 and to make Gross- Up Payments to the Executive under Section 14. The ; the Company may refuse to continue providing those severance benefits or to make any Gross-Up Payment if there is demonstrable noncompliance by Executive, as reasonably determined in good faith by the Compensation Committee with notice to Executive and 30 days to appeal such decision to the Compensation Committee.

Appears in 1 contract

Samples: Control Executive Severance Agreement (Delta Petroleum Corp/Co)

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