Overriding Royalty Interests. At all times while this Agreement is in effect, the aggregate overriding royalty interests to be held by or due to Hube▇ ▇▇▇ employees of Hardy (excluding Alan ▇. ▇▇▇▇▇▇▇▇) ▇▇rsuant to the applicable employment agreement described in EXHIBIT 7 to this Agreement or otherwise shall not exceed an aggregate of 1-1/2% before Payout (as defined in EXHIBIT 7) and an aggregate of 6% after Payout, proportionately reduced to the Company Group's Working Interest (as defined in EXHIBIT 7) and the aggregate overriding royalty interest to be held by or due to Alan ▇. ▇▇▇▇▇▇▇▇ ▇▇▇ consultants (excluding Hube▇) ▇▇rsuant to the consulting services agreement described in EXHIBIT 7 to this Agreement or otherwise shall not exceed an aggregate of 1-1/2% before Payout and an aggregate of 1-1/2% after Payout, proportionately reduced to the Company Group's Working Interest, in each case subject to the adjustments, including without limitation those described in Sections 9.4.8(a), 9.4.8(b), 9.4.9 and 9.5, provided for in such employment agreements and the comparable provisions in such consulting services agreements; provided, however, that the aggregate overriding royalty interests held by and due to employees and consultants in a prospect owned by Hardy as of the date hereof shall not be increased except as provided in such employment or consulting services agreement. The division from time to time while this Agreement is in effect among employees and consultants of the percentages described in the foregoing sentence will be determined by the mutual agreement of the Representatives at the Closing Time and thereafter will be determined by the Compensation Committee of the board of directors of Hardy based on the recommendation of the chief executive officer of Hardy.
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Overriding Royalty Interests. At all times while this Agreement is in effect, the aggregate overriding royalty interests to be held by or due to HubeDavi▇ ▇. ▇▇▇▇▇ ▇▇▇ employees of Hardy Mariner Energy (excluding Alan ▇. ▇▇▇▇▇▇▇▇) ▇▇rsuant to the applicable their employment agreement described in EXHIBIT 7 to this Agreement agreements with Mariner Energy or otherwise shall not exceed an aggregate of 1-1/2% before Payout (as defined in EXHIBIT 7such agreements) and an aggregate of 6% after Payout, proportionately reduced to the Company Group's Working Interest (as defined in EXHIBIT 7) such agreements), and the aggregate overriding royalty interest to be held by or due to Alan ▇. ▇▇▇▇▇▇▇▇ ▇▇▇ other consultants (excluding HubeDavi▇ ▇. ▇▇▇▇▇) ▇▇rsuant to the their consulting services agreement described in EXHIBIT 7 to this Agreement with Mariner Energy or otherwise shall not exceed an aggregate of 1-1/2% before Payout and an aggregate of 1-1/2% after Payout, proportionately reduced to the Company Group's Working Interest, in each case subject to the adjustments, including without limitation those described in Sections 9.4.8(a), 9.4.8(b), 9.4.9 and 9.5, provided for in such employment agreements and the comparable provisions in such consulting services agreements; provided, however, that the aggregate overriding royalty interests held by and due to employees and consultants in a prospect owned by Hardy Mariner Energy as of the date hereof April 2, 1996, shall not be increased except as provided in such employment or consulting services agreement. The division from time to time while this Agreement is in effect among employees and consultants of the percentages described in the foregoing sentence will be determined by the mutual agreement of the Representatives at the Closing Time and thereafter will be determined by the Compensation Committee of the board of directors of Hardy Mariner Energy based on the recommendation of the chief executive officer of HardyMariner Energy.
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