Limitation on Competition Sample Clauses

Limitation on Competition. In consideration of the Company’s entering into this Agreement, the Executive agrees that during the Covenant Period, the Executive will not, without the prior written consent of the Company, anywhere within the Restricted Territory, either directly or indirectly, alone or in conjunction with any other party, accept, enter into or take any action in conjunction with or in furtherance of a Competitive Position (other than action to reject an unsolicited offer of a Competitive Position).

Limitation on Competition. The Executive acknowledges that he will have continuing access to the financial and other confidential information of the Company. As an agreement ancillary to the receipt of such information and the other undertakings in this Agreement, the Executive covenants as follows: During the Employment Period, and for such period thereafter (A) as the Executive is entitled to receive severance compensation under this Agreement, or (B) in the event payment of Enhanced Severance compensation is paid, for a period of three (3) years following the end of the Employment Period, or (C) in the event the Executive’s employment is terminated by the Company for Cause or the Executive terminates his employment for any reason other than Good Reason (including, without limitation, by giving the Company a Non-Renewal Notice pursuant to Section 1(b) hereof), for a period of twelve months following the Employment Period: (a) the Executive shall not, directly or indirectly, without the Company’s prior written consent, participate or engage in, whether as a director, officer, employee, advisor, consultant, investor, lender, stockholder, partner, joint venturer, owner or in any other capacity, any Competitive Business (as defined below) conducted in any Competitive Market Area (as defined below); provided, however, that the Executive shall not be deemed to be participating or engaging in any such business solely by virtue of his ownership of not more than five percent of any class of stock or other securities which is publicly traded on a national securities exchange or in a recognized over-the-counter market; (b) the Executive shall not, without the Company’s prior written consent, (i) solicit (other than by way of generalized employment advertising undertaken in the ordinary course of business) the service of or employ any employee of the Key Companies for the Executive’s own benefit or for the benefit of any person or entity other than the Key Companies, (ii) induce any such employee to leave employment with the Key Companies, or (iii) employ or cause any other person or entity other than the Key Companies to employ any former employee of the Key Companies whose termination of employment with the Key Companies occurred less than six (6) months prior to such employment by the Executive or such other person or entity; and (c) the Executive shall not, without the Company’s prior written consent, (i) induce or attempt to induce any customer, supplier or contractor of the Company to t...

Limitation on Competition. During the term of Employee’s employment and for a period of one (1) year after the termination of such employment for any reason (the “Restricted Period”), Employee shall not, engage directly or indirectly, either personally or as an employee, partner, associate partner, owner, officer, manager, agent, advisor, consultant or otherwise, or by means of any corporate or other entity or device, in any business which is competitive with the business of Corporation. For purposes of this covenant, a business will be deemed competitive if it is conducted in whole or in part within any geographic area wherein Corporation is engaged in marketing its products, and if it involves the design or manufacture of products for the aerospace industry that are the same or substantially similar to those designed or manufactured by Corporation or if it is in any manner competitive, as of the date of cessation of the Employee’s employment, with any business then being conducted by Corporation or as to which Corporation has then formulated definitive plans to enter;

Limitation on Competition. During the term of Executive’s employment and for a period of one (1) year after the termination of such employment for any reason (the “Restricted Period”), Executive shall not, engage directly or indirectly, either personally or as an Executive, partner, associate partner, owner, officer, manager, agent, advisor, consultant or otherwise, or by means of any corporate or other entity or device, in any business which is competitive with the business of Employer. For purposes of this covenant, a business will be deemed competitive if it is conducted in whole or in part within any geographic area wherein Employer is engaged in marketing its products, and if it involves the design or manufacture of products for the aerospace industry that are the same or substantially similar to those designed or manufactured by Employer or if it is in any manner competitive, as of the date of cessation of the Executive’s employment, with any business then being conducted by Employer or as to which Employer has then formulated definitive plans to enter;

Limitation on Competition. In consideration of the additional payments, benefits and other rights that are being provided to Executive under this Agreement, while employed by Company or an Affiliated Company, and during the eighteen (18) months after any termination of his employment, Executive agrees not to provide any "Services" (as defined in the third paragraph of this Section 10) to any Person that competes directly with Company or any Affiliated Companies, whether Executive provides the Services as an employee, consultant, independent contractor, advisor or director. After the termination of Executive's employment, the foregoing covenant shall restrict Executive's actions only with respect to competition in the Territory.

Limitation on Competition. During the Employment Period, and for an additional period (the "Non-Compete Period") of (i) twenty four (24) months after your termination if you ARE entitled to receive severance compensation pursuant to Section 4 hereof, or (ii) twelve (12) months after your termination if you ARE NOT entitled to receive severance compensation pursuant to Section 4 hereof, you shall not, directly or indirectly, without the prior written consent of the Company, participate or engage in, whether as a director, officer, employee, advisor, lender, consultant, stockholder, partner, joint venturer, owner or in any other capacity, any business engaged in the business of furnishing oilfield services (which for the purposes hereof shall include drilling oil and gas xxxxx) in any of the onshore oil or gas producing regions in the continental United States and Argentina or in any other oil or gas producing region throughout the world in which the Company or any of its subsidiaries conduct their business or operations during the Employment Period or the Non-Compete Period (a "Competing Enterprise"); PROVIDED, HOWEVER, that you shall not be deemed to be participating or engaging in any such business solely by virtue of your ownership of not more than five percent of any class of stock or other securities which is publicly traded on a national securities exchange or in a recognized over-the-counter market. In addition, during the Employment Period and the Non-Compete Period, you shall not, directly or indirectly, solicit, raid, entice or otherwise induce any employee of the Company or any of its subsidiaries to be employed by a Competing Enterprise or to otherwise leave the employ of the Company. You hereby agree and acknowledge that a portion of the consideration to be paid by the Company to you pursuant to this Agreement is consideration for your covenants under this Section 5 and such consideration is fair and adequate whether or not you receive any severance compensation pursuant to Section 4 hereof.

Limitation on Competition. Ancillary to and as a condition precedent to the Merger, in connection with which the Executive will receive, both directly and indirectly, significant benefits and value, and in consideration of the Covenant Payments payable by the Company to the Executive under this Agreement, the Executive agrees that during the Covenant Period, the Executive will not, without the prior written consent of the Company, anywhere within the Restricted Territory, either directly or indirectly, alone or in conjunction with any other party, accept, enter into or take any action in conjunction with or in furtherance of a Competitive Position (other than action to reject an unsolicited offer of a Competitive Position).

Limitation on Competition. Ancillary to and as a condition precedent to the Merger, in connection with which the Employee will receive, both directly and indirectly, significant benefits and value, and in consideration of the Covenant Payments payable by the Company to the Employee under this Agreement, the Employee agrees that during the Covenant Period, the Employee will not, without the prior written consent of the Company, anywhere within the Restricted Territory, either directly or indirectly, alone or in conjunction with any other party, accept, enter into or take any action in conjunction with or in furtherance of a Competitive Position (other than action to reject an unsolicited offer of a Competitive Position).

Limitation on Competition. (a) Each Stockholder agrees, severally and not jointly with any other Person, that that Stockholder will not, during the period beginning on the date hereof and ending on the first anniversary of the date hereof (the "Non-Compete Period"), directly or indirectly, for any reason, for that Stockholder's own account or on behalf of or together with any other Person: (1) acquire or enter into an agreement to acquire, directly or through direct or indirect ownership or contract rights with respect to a Person, including without limitation whether as principal, agent, stockholder, partner, joint venturer, employer, employee or in any other capacity, any interest (an "Interest") of any kind or character in the lands or in the minerals on or under said lands whatsoever located within the Non-Compete Area (as Annex B defines that term), whether by means of lease, purchase, assignment, trade, sublease, easement, farmout, or any other form of acquisition, including any merger with or acquisition of stock or ownership interests in any other Person; or (2) call on or otherwise solicit, directly or indirectly through any Person, any natural person who is at that time employed by the Company in any managerial capacity with the purpose or intent of attracting that person from the employ of the Company. Notwithstanding the foregoing, any Stockholder may own and hold as a passive investment up to 10% of the outstanding Capital Stock of a competing Entity. In the event that a Stockholder acquires an Interest in the Non-Compete Area during the Non-Compete Period, that Stockholder (the "Acquiring Stockholder") must promptly notify Parent in writing of that acquisition, including a full description of the acquired Interest and the rights, obligations and duties with respect thereto, accompanied by a copy of any acquisition agreement and any other relevant documents. Within 30 days following that acquisition, the Acquiring Stockholder will convey, transfer and assign all its rights, titles, and interests in the Interest so acquired to the Company without consideration. (b) Because of (1) the difficulty of measuring economic losses to Parent or the Company as a result of any breach by a Stockholder of that Stockholder's covenants in Section 3(a) and (2) the immediate and irreparable damage that could be caused to Parent or the Company for which it would have no other adequate remedy, each Stockholder agrees that Parent or the Company may enforce the provisions of Section 3(a) by ...

Limitation on Competition. In consideration of the additional payments, benefits and other rights that are being provided to Executive under this Agreement, during the one (1) year period following the Effective Date, Executive agrees not to provide any "Services" (as defined in the third paragraph of this Section 7) to any Person that competes directly with Company or any Affiliated Companies, whether Executive provides the Services as an employee, consultant, independent contractor, advisor or director. After the termination of Executive's employment, the foregoing covenant shall restrict Executive's actions only with respect to competition in the Territory. For purposes of this Agreement, the term "Territory" shall mean the geographical territory consisting of (i) those territories in the countries of Argentina, Uruguay, Colombia, Venezuela, Chile, Peru, Ecuador, Panama, Nicaragua and Guatemala described in Exhibit "B" attached hereto and incorporated by reference herein and (ii) those counties and parishes in the states of Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, and Tennessee listed on Exhibit "B", which the Parties acknowledge represents geographical territories in which Executive, as of the Effective Date, has (or has had) responsibility for providing Services to Company or Affiliated Companies. The Parties also acknowledge that the entire Territory consists of geographical territories in which Company and Affiliated Companies, directly or indirectly, are conducting business on the Effective Date. In an effort to impose reasonable limitations on the scope of the Territory, Company has not required that Executive comply with the covenant in this Section 7 in all geographical areas where Company and Affiliated Companies are licensed to conduct business and are conducting business, even though the Parties acknowledge that Executive is performing Services throughout that entire area. Executive agrees that because of the widespread nature of Company's business, Executive's engaging in competitive activity anywhere in the Territory would irreparably injure Company or Affiliated Companies and that, therefore, a more limited geographic restriction is neither feasible nor appropriate. For purposes of this Agreement, the term "Services" shall mean services which Executive as of the Effective Date is responsible for providing to Company and Affiliated Companies, which Executive acknowledges consists of providing management, administrat...