Common use of Commitment to the Company Clause in Contracts

Commitment to the Company. During the term of Employee's employment under this Agreement, Employee shall not be involved, individually or as an employee, principal, officer, general partner, director or shareholder, in any real estate development activities without first obtaining the consent and approval of a majority of the Company's Board of Directors, the consideration of such consent shall not be unreasonably delayed and such consent shall be given or withheld on a 4 consistent basis with the grant or refusal of the Board to grant consent to real estate development activities by other officers of the Company who are party to employment agreements with the Company. The limitation contained in this Section shall not apply, however, to the ownership of no more than 1% of the capital stock of any publicly held corporation or to participation in real estate development activities as a limited partner. For purposes of this Section, Employee shall be deemed the owner of any interests held by Employee, Employee's spouse, or any other unemancipated minor member of Employee's family.

Commitment to the Company. During the term of Employee's ’s employment under this Agreement, Employee shall not be involved, individually or as an employee, principal, officer, general partner, director or shareholder, in any real estate development activities without first obtaining the consent and approval of a majority of the Company's ’s Board of Directors, the consideration of such consent shall not be unreasonably delayed and such consent shall be given or withheld on a 4 consistent basis with the grant or refusal of the Board to grant consent to real estate development activities by other officers of the Company who are party to employment agreements with the Company. The limitation contained in this Section shall not apply, however, to the ownership of no more than 11 % of the capital stock of any publicly held corporation or to participation in real estate development activities as a limited partner. For purposes of this Section, Employee shall be deemed the owner of any interests held by Employee, Employee's ’s spouse, or any other unemancipated un emancipated minor member of Employee's ’s family.