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, 1995 between AVEMCO and Employee. ----------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxx X. Xxxxx By /s/ Xxxxxxx X. Xxxxxx. --------------------------- -------------------------------- Xxxxxxx X. Xxxxxx Chairman/CEO XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX X. XXXXX ------------------ ------------- DEFINITION OF BUSINESS 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, 1995 1996 , between AVEMCO and Employee. ----------------- --------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxx Xxxxxx X. Xxxxx By /s/ Xxxxxxx Xxxx X. XxxxxxXxxxxxx, Xx. --------------------------- -------------------------------- Xxxxxxx ------------------------------- ----------------------------------------- Xxxx X. Xxxxxx Chairman/CEO Xxxxxxx, Xx., President XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX XXXXXX X. XXXXX ------------------ ------------- --------------- DEFINITION OF BUSINESS For the purposes of the Employment Agreement referenced below, the "Business" includes each of the following paragraphs checked below: #1,3,4,5 --------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, 1995 between AVEMCO and Employee. ----------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxx Xxxxxx X. Xxxxx By /s/ Xxxxxxx X. Xxxxxx. --------------------------- -------------------------------- -------------------------- ----------------------------- Xxxxxxx X. Xxxxxx Chairman/CEO XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX XXXXXX X. XXXXX ------------------ ------------- --------------- DEFINITION OF BUSINESS For the purposes of the Employment Agreement referenced below, the "Business" includes each of the following paragraphs checked below: #1,3,4,5 --------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, 1995 1994 between AVEMCO and Employee. ----------------- -------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxxxx X. Xxxxxx By /s/ Xxxx X. Xxxxx By /s/ Xxxxxxx X. XxxxxxXxxxxxx, Xx. --------------------------- -------------------------------- Xxxxxxx ------------------------------ ----------------------------- Xxxxxx X. Xxxxxx Chairman/CEO President Xxxx X. Xxxxxxx, Xx. XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX XXXXXX X. XXXXX XXXXXX ------------------ ------------- ---------------- DEFINITION OF BUSINESS For the purposes of the Employment Agreement referenced below, the "Business" includes each of the following paragraphs checked below: #1,3,4,5 2, 3, 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, 1995 1996 , between AVEMCO and Employee. ----------------- --------------- EMPLOYEE AVEMCO CORPORATION /s/ Xxxx X. Xxxxx By /s/ Xxxxxxx Xxxx X. XxxxxxXxxxxxx, Xx. --------------------------- -------------------------------- Xxxxxxx ----------------------------------- Xxxx X. Xxxxxx Chairman/CEO Xxxxxxx, Xx., President XXXXXXXXXX X-0 EMPLOYER: AVEMCO CORPORATION EMPLOYEE: XXXX X. XXXXX ------------------ ------------- DEFINITION OF BUSINESS For the purposes of the Employment Agreement referenced below, the "Business" includes each of the following paragraphs checked below: #1,3,4,5 --------BUSINESS