Common use of Obligations After Termination Date Clause in Contracts

Obligations After Termination Date. (a) The purposes of the provisions of Section 8 and this Section 10 are to protect the Company from unfair loss of goodwill and business advantage and to shield Employee from pressure to use or disclose Confidential Information or to trade on the goodwill belonging to the Company. Accordingly, during the Post-Termination Non-Compete Term (as defined below), except as otherwise approved by the Board, Employee will not engage or participate in (whether directly or indirectly through any Family Member or as an employee, employer, consultant, agent, principal, partner, shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity), any business or activity (including leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products) in such a manner that Employee’s knowledge of Confidential Information is used to compete with the Company, within a ten (10) mile radius of the boundaries of, any material mineral property interest of the Company (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) as of the Termination Date or any other material property on which the Company has, or is in the process of negotiating, 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; provided that, this Section 10 shall not preclude Employee from making purely passive investments in companies in the energy industry provided such investments do not exceed five percent of the outstanding equity securities of the applicable company.

Obligations After Termination Date. (a) The purposes of the provisions of Section 8 and this Section 10 are to protect the Company from unfair loss of goodwill and business advantage and to shield Employee from pressure to use or disclose Confidential Information or to trade on the goodwill belonging to the Company. Accordingly, during the Post-Termination Non-Compete Term (as defined below), except as otherwise approved by the Board, Employee will not engage or participate in (whether directly or indirectly through any Family Member or as an employee, employer, consultant, agent, principal, partner, shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity), in any business or activity (including leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products) in such a manner that Employee’s knowledge of Confidential Information is could be used to compete with the Company, within a ten (10) mile radius of the boundaries of, any material mineral property interest of the Company (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) as of the Termination Date or any other material property on which the Company has, or is in the process of negotiating, 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; provided that, this Section 10 shall not preclude Employee from making purely passive investments in companies in the energy industry provided such investments do not exceed five percent of the outstanding equity securities of the applicable company.

Obligations After Termination Date. (a) The purposes purpose of the provisions of Section 8 2 and this Section 10 4 are to protect the Company from unfair loss of goodwill and business advantage and to shield Employee from pressure to use or disclose Confidential Information or to trade on the goodwill belonging to the Company. Accordingly, during the "Post-Termination Non-Compete Term Term" (as defined below), except as otherwise approved by the Board, Employee will not engage or participate in (any manner, whether directly or indirectly through any Family Member family member or as an employee, employer, consultant, agent, principal, partner, shareholderstockholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity), in any business or activity (including which is in engaged in leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products) in such a manner that Employee’s knowledge of Confidential Information is used to compete with products within the Companyboundaries of, or within a ten one hundred (10100) mile radius of the boundaries of, any material mineral property interest of any of the Company Related Parties (including, without limitation, a mineral lease, overriding royalty interest, production payment, net profits interest, mineral fee interest, 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 Related Party and any third party) as of the Termination Date or any other material property on which the Company has, or is in the process of negotiating, Related Parties have an option, right, license, license or authority to conduct or direct exploratory activities, such as three 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 10 4 shall not preclude Employee from making purely passive personal investments in securities of oil and gas companies in which are registered on a national stock exchange, if the energy industry provided such investments do aggregate amount owned by Employee and all family members and affiliates does not exceed five percent 5% of the such company's outstanding equity securities of the applicable companysecurities.

Obligations After Termination Date. (a) The purposes purpose of the provisions of Section 8 2 and this Section 10 4 are to protect the Company from unfair loss of goodwill and business advantage and to shield Employee from pressure to use or disclose Confidential Information or to trade on the goodwill belonging to the Company. Accordingly, during the Post-Termination Non-Compete Noncompete Term (as defined below), except as otherwise approved by the Board, Employee will not engage or participate in (any manner, whether directly or indirectly through any Family Member family member or as an employee, employer, consultant, agent, principal, partner, shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity), in any business or activity (including which is engaged in leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons and related products) products in such a manner an area that Employee’s knowledge of Confidential Information is used to compete with the Company, within a ten (10) mile radius of the boundaries of, any material mineral property interest of any of the Company Related Parties (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 Related Party and any third party) as of the Termination Date or any other material property on which the Company hasRelated Parties have, or is are in the process of negotiating, 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; provided that, this Section 10 4 shall not preclude Employee from making purely passive personal investments in securities of oil and gas companies in which are registered on a national stock exchange or on The Nasdaq Stock Market, if the energy industry provided such investments do aggregate amount owned by Employee and all family members and affiliates does not exceed five percent 2% of the such company’s outstanding equity securities of the applicable companysecurities.

Obligations After Termination Date. (a) The purposes purpose of the provisions of Section 8 2 and this Section 10 4 are to protect the Company from unfair loss of goodwill and business advantage and to shield Employee from pressure to use or disclose Confidential Information or to trade on the goodwill belonging to the Company. Accordingly, during the Post-Post Termination Non-Compete Noncompete Term (as defined below), except as otherwise approved by the Board, Employee will not engage or participate in (any manner, whether directly or indirectly through any Family Member family member or as an employee, employer, consultant, agent, principal, partner, shareholder, officer, director, licensor, lender, lessor or in any other individual or representative capacity), in any business or activity which: (including i) is engaged in leasing, acquiring, exploring, producing, gathering or marketing hydrocarbons (and rights therein) and related products) products in such a manner an area that Employee’s knowledge of Confidential Information is used to compete with the Company, within a ten one (101) mile radius (with respect to leasing, acquiring, exploring and producing) or a four (4) mile radius (with respect to gathering or marketing) of the boundaries of, any material mineral property interest of the Company (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) as of the Termination Date or any other material property on which the Company has, or is in the process of negotiating, 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); or (ii) processes, treats, gathers or markets (or has previously agreed or enters into any agreement to process, treat, gather or market) hydrocarbons or related products in areas in which the Company operates as of the Termination Date; provided that, this Section 10 4 shall not preclude Employee from making purely passive personal investments in securities of energy companies in which are listed on a national stock exchange, if the energy industry provided such investments do aggregate amount owned by Employee and all immediate family members (i.e., his spouse and children) and affiliates does not exceed five percent 2% of the such company's outstanding equity securities. Furthermore, nothing in this Section 4 shall preclude Employee from serving as a partner, principal or employee of an investment fund whose primary purpose is investing in securities of the applicable companyenergy companies. For purposes of this Agreement "gas" shall include, without limitation, casing head gas.