Common use of Exceptions to Scope of Noncompetition Clause in Contracts

Exceptions to Scope of Noncompetition. (1) Nothing in Section 13(a) of this Agreement shall prohibit the Employee from owning or acquiring securities of Systems, the Company or of any corporation or other business enterprise that may be engaged in activities described in Section 13(a), provided that: (A) the Employee is not an officer, director or employee of, or consultant to, such corporation or business enterprise; (B) such securities are held by the Employee for investment purposes and represent less than five percent (5%) of the total equity interests of such corporation or business enterprise; and (C) such securities are listed on a national securities exchange or are regularly quoted in the over the counter market by one or more members of the National Association of Securities Dealers.

Exceptions to Scope of Noncompetition. (1) Nothing in Section 13(a12(a) of this Agreement shall prohibit the Employee from owning or acquiring securities of Systems, the Company or of any corporation or other business enterprise that may be engaged in activities described in Section 13(a12(a), provided that: (A) the Employee is not an officer, director or employee of, or consultant to, such corporation or business enterprise; (B) such securities are held by the Employee for investment purposes and represent less than five percent (5%) of the total equity interests of such corporation or business enterprise; and (C) such securities are listed on a national securities exchange or are regularly quoted in the over the over-the-counter market by one or more members of the National Association of Securities Dealers.