Certain Ownership Clause Samples

Certain Ownership. Notwithstanding the provisions of the Noncompete covenant, Section 11.2(a) Fra▇▇ ▇'▇▇▇▇▇▇▇ ▇▇d/or Den▇▇▇ ▇▇▇▇ ▇▇y have an ownership interest as an investor in: (i) a publicly traded company which is engaged in the Retail Pharmacy Business, provided that the aggregate amount of such investment shall not exceed 2% of the issued and outstanding stock of the Company; or (ii) a company which is not publicly traded which is engaged in the Retail Pharmacy Business, provided that, (A) the Retail Pharmacy Business is not the company's primary business (for these purposes the Retail Pharmacy Business will be deemed not primary if its revenues are less than 20% of the company's revenues and the profits generated by the Retail Pharmacy Business are less than 20% of the company's profits); and (B) each of Fra▇▇ ▇'▇▇▇▇▇▇▇ ▇▇d Den▇▇▇ ▇▇▇▇ ▇▇e passive investors and are not actively engaged in the management or operation of the company or serving on the company's board; provided, however, that each may serve on the board of a company described in part (ii) hereof, provided that they do not provide any other services to the Retail Pharmacy Business of such company. It is specifically understood that this exception provides relief only from the Noncompete covenant, and only to the extent provided herein, and that the other Covenants set forth above shall continue to apply in full even with respect to companies in which Messrs. O'D▇▇▇▇▇▇ ▇▇d Ryl▇ ▇▇e permitted to make investments.