Common use of Public Company Exception Clause in Contracts

Public Company Exception. The prohibitions contained in this SECTION 7 do not prohibit the Employee’s ownership of stock which is publicly traded, provided that (1) the investment is passive, (2) the Employee has no other involvement with the company, (3) the Employee’s interest is less than five percent (5%) of the shares of the company, and (4) the Employee makes full disclosure to the Company of the stock at the time that the Employee acquires the shares of stock.

Public Company Exception. The prohibitions contained in this SECTION 7 Sections 4 and 5 do not prohibit the Employee’s 's ownership of stock which is publicly traded, provided that (1) the investment is passive, (2) the Employee has no other involvement with the company, (3) the Employee’s 's interest is less than five percent (5%) percent of the shares of the company, and (4) the Employee makes full disclosure to the Company of the stock at the time that the Employee acquires the shares of stock.

Public Company Exception. The prohibitions contained in this SECTION 7 do not prohibit the Employee’s 's ownership of stock which is publicly traded, provided that (1) the investment is passive, (2) the Employee has no other involvement with the company, (3) the Employee’s 's interest is less than five percent (5%) of the shares of the company, and (4) the Employee makes full disclosure to the Company of the stock at the time that the Employee acquires the shares of stock.

Public Company Exception. The prohibitions contained in this SECTION 7 8 do not prohibit the Employee’s 's ownership of stock which is publicly traded, provided that (1) the investment is passive, (2) the Employee has no other involvement with the company, (3) the Employee’s 's interest is less than five percent (5%) of the shares of the company, and (4) the Employee makes full disclosure to the Company of the stock at the time that the Employee acquires the shares of stock.