Common use of Mutually Dependent Clause in Contracts

Mutually Dependent. The provisions of Section 4 above regarding XxXxxxxxx’x continued employment related to operational and engineering matters and DRI’s continuing obligations to XxXxxxxxx which are related thereto, and the covenants and agreements of XxXxxxxxx set forth in Section 6 above, are mutually dependent, and XxXxxxxxx understands and agrees that a violation of any of the provisions of Section 6 above will be considered a material breach of this Agreement, and further acknowledges and agrees that irreparable harm to the Company would result from breach by him of any such provisions. Accordingly, notwithstanding any provision of this Agreement to the contrary, XxXxxxxxx will permanently forfeit any rights to continued employment by the Company as set out under the provisions of Section 4 above, and the Company may immediately terminate such employment, beginning on the date that either (i) XxXxxxxxx violates any provision of Section 6 above, or (ii) all or any part of, or the application of, Section 6 above is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between XxXxxxxxx and DRI, and on such date any continuing obligations of the Company to XxXxxxxxx tied to his continued employment shall be extinguished.

Appears in 1 contract

Samples: Officer Resignation Agreement (Denbury Resources Inc)

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Mutually Dependent. The provisions of Section 4 above regarding XxXxxxxxx’x Xxxxxx’x continued employment related to operational and engineering matters and DRI’s continuing obligations to XxXxxxxxx Xxxxxx which are related thereto, and the covenants and agreements of XxXxxxxxx Xxxxxx set forth in Section 6 above, are mutually dependent, and XxXxxxxxx Xxxxxx understands and agrees that a violation of any of the provisions of Section 6 above will be considered a material breach of this Agreement, and further acknowledges and agrees that irreparable harm to the Company would result from breach by him of any such provisions. Accordingly, notwithstanding any provision of this Agreement to the contrary, XxXxxxxxx Xxxxxx will permanently forfeit any rights to continued employment by the Company as set out under the provisions of Section 4 above, and the Company may immediately terminate such employment, beginning on the date that either (i) XxXxxxxxx Xxxxxx violates any provision of Section 6 above, or (ii) all or any part of, or the application of, Section 6 above is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between XxXxxxxxx Xxxxxx and DRI, and on such date any continuing obligations of the Company to XxXxxxxxx Xxxxxx tied to his continued employment shall be extinguished.

Appears in 1 contract

Samples: Officer Resignation Agreement (Denbury Resources Inc)

Mutually Dependent. The provisions of Section 4 above regarding XxXxxxxxx’x Xxxxxxxxx’ continued employment related to operational operational, technical and engineering matters and DRI’s continuing obligations to XxXxxxxxx Xxxxxxxxx which are related thereto, and the covenants and agreements of XxXxxxxxx Xxxxxxxxx set forth in Section 6 above, are mutually dependent, and XxXxxxxxx Xxxxxxxxx understands and agrees that a violation of any of the provisions of Section 6 above will be considered a material breach of this Agreement, and further acknowledges and agrees that irreparable harm to the Company would result from breach by him of any such provisions. Accordingly, notwithstanding any provision of this Agreement to the contrary, XxXxxxxxx Xxxxxxxxx will permanently forfeit any rights to continued employment by the Company as set out under the provisions of Section 4 above, and the Company may immediately terminate such employment, beginning on the date that either (i) XxXxxxxxx Xxxxxxxxx violates any provision of Section 6 above, or (ii) all or any part of, or the application of, Section 6 above is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between XxXxxxxxx Xxxxxxxxx and DRI, and on such date any continuing obligations of the Company to XxXxxxxxx Xxxxxxxxx tied to his continued employment shall be extinguished.

Appears in 1 contract

Samples: Officer Resignation Agreement (Denbury Resources Inc)

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Mutually Dependent. The provisions of Section 4 above regarding XxXxxxxxx’x Xxxxx’ continued employment related to operational engineering and engineering technical matters and DRIthe Company’s continuing obligations to XxXxxxxxx Xxxxx which are related thereto, and the covenants and agreements of XxXxxxxxx Xxxxx set forth in Section 6 above, are mutually dependent, and XxXxxxxxx Xxxxx understands and agrees that a violation of any of the provisions of Section 6 above will be considered a material breach of this Agreement, and further acknowledges and agrees that irreparable harm to the Company would result from breach by him of any such provisions. Accordingly, notwithstanding any provision of this Agreement to the contrary, XxXxxxxxx Xxxxx will permanently forfeit any rights to continued employment by the Company as set out under the provisions of Section 4 above, and the Company may immediately terminate such employment, beginning on the date that either (i) XxXxxxxxx Xxxxx violates any provision of Section 6 above, or (ii) all or any part of, or the application of, Section 6 above is held or found invalid or unenforceable for any reason whatsoever by a court of competent jurisdiction in an action between XxXxxxxxx Xxxxx and DRIthe Company, and on such date any continuing obligations of the Company to XxXxxxxxx Xxxxx tied to his continued employment shall be extinguished.

Appears in 1 contract

Samples: Officer Resignation Agreement (Denbury Resources Inc)

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