Common use of Passive Investments Clause in Contracts

Passive Investments. The provisions of paragraphs A(1), A(2) and A(3) hereof which prohibit Employee from engaging in certain activities shall not be construed to prevent Employee, as a passive investor, from investing in equity securities, as a stockholder, of publicly traded companies where such stock ownership would not be in conflict with Employee's duties, loyalties, and ongoing obligations under this Employment Agreement. Employee agrees that AVEMCO shall have the right to decide whether such conflict exists should there be any question regarding the same. This Attachment attaches to and forms a part of the Employment Agreement dated January 1, 1996 , between AVEMCO and Employee. --------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxx X. Xxxxx By /s/ Xxxx X. Xxxxxxx, Xx. -------------------------------- ----------------------------------- Xxxx X. Xxxxxxx, Xx., President XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX X. XXXXX ------------------ ------------- DEFINITION OF BUSINESS

Passive Investments. The provisions of paragraphs A(1), A(2) and A(3) hereof which prohibit Employee from engaging in certain activities shall not be construed to prevent Employee, as a passive investor, from investing in equity securities, as a stockholder, of publicly traded companies where such stock ownership would not be in conflict with Employee's duties, loyalties, and ongoing obligations under this Employment Agreement. Employee agrees that AVEMCO shall have the right to decide whether such conflict exists should there be any question regarding the same. This Attachment attaches to and forms a part of the Employment Agreement dated January 1, 1996 , 1995 between AVEMCO and Employee. --------------- ----------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxx X. Xxxxx By /s/ Xxxx Xxxxxxx X. Xxxxxxx, XxXxxxxx. --------------------------- -------------------------------- ----------------------------------- Xxxx Xxxxxxx X. Xxxxxxx, Xx., President Xxxxxx Chairman/CEO XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX X. XXXXX ------------------ ------------- DEFINITION OF BUSINESSBUSINESS For the purposes of the Employment Agreement referenced below, the "Business" includes each of the following paragraphs checked below: #1,3,4,5 --------

Passive Investments. The provisions of paragraphs A(1), A(2) and A(3) hereof which prohibit Employee from engaging in certain activities shall not be construed to prevent Employee, as a passive investor, from investing in equity securities, as a stockholder, of publicly traded companies where such stock ownership would not be in conflict with Employee's duties, loyalties, and ongoing obligations under this Employment Agreement. Employee agrees that AVEMCO shall have the right to decide whether such conflict exists should there be any question regarding the same. This Attachment attaches to and forms a part of the Employment Agreement dated January 1, 1996 , between AVEMCO and Employee. --------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxx Xxxxxx X. Xxxxx By /s/ Xxxx X. Xxxxxxx, Xx. -------------------------------- ----------------------------------- ------------------------------- ----------------------------------------- Xxxx X. Xxxxxxx, Xx., President XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX XXXXXX X. XXXXX ------------------ ------------- --------------- DEFINITION OF BUSINESS

Passive Investments. The provisions of paragraphs A(1), A(2) and A(3) hereof which prohibit Employee from engaging in certain activities shall not be construed to prevent Employee, as a passive investor, from investing in equity securities, as a stockholder, of publicly traded companies where such stock ownership would not be in conflict with Employee's duties, loyalties, and ongoing obligations under this Employment Agreement. Employee agrees that AVEMCO shall have the right to decide whether such conflict exists should there be any question regarding the same. This Attachment attaches to and forms a part of the Employment Agreement dated January 1, 1996 , 1995 between AVEMCO and Employee. --------------- ----------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxx Xxxxxx X. Xxxxx By /s/ Xxxx Xxxxxxx X. Xxxxxxx, XxXxxxxx. -------------------------------- ----------------------------------- Xxxx -------------------------- ----------------------------- Xxxxxxx X. Xxxxxxx, Xx., President Xxxxxx Chairman/CEO XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX XXXXXX X. XXXXX ------------------ ------------- --------------- DEFINITION OF BUSINESSBUSINESS For the purposes of the Employment Agreement referenced below, the "Business" includes each of the following paragraphs checked below: #1,2,3,4,5 ----------

Passive Investments. The provisions of paragraphs A(1), A(2) and A(3) hereof which prohibit Employee from engaging in certain activities shall not be construed to prevent Employee, as a passive investor, from investing in equity securities, as a stockholder, of publicly traded companies where such stock ownership would not be in conflict with Employee's duties, loyalties, and ongoing obligations under this Employment Agreement. Employee agrees that AVEMCO shall have the right to decide whether such conflict exists should there be any question regarding the same. This Attachment attaches to and forms a part of the Employment Agreement dated January July 1, 1996 , 1994 between AVEMCO and Employee. --------------- -------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxx Xxxxxx X. Xxxxx Xxxxxx By /s/ Xxxx X. Xxxxxxx, Xx. -------------------------------- ----------------------------------- ------------------------------ ----------------------------- Xxxxxx X. Xxxxxx President Xxxx X. Xxxxxxx, Xx., President . XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX XXXXXX X. XXXXX XXXXXX ------------------ ------------- ---------------- DEFINITION OF BUSINESSBUSINESS For the purposes of the Employment Agreement referenced below, the "Business" includes each of the following paragraphs checked below: 2, 3, 5 --------