Common use of Personal Investments Clause in Contracts

Personal Investments. Nothing herein contained shall prevent the Employee from being a passive owner of not more than one percent (1%) of the outstanding stock of any class of a corporation which is engaged in a Competitive Business and which is publicly traded, or of a privately held corporation that is not competitive in any manner with the business of the Company, provided the Employee (i) has no other participation in the management, operations or business of such corporation and (ii) is not a controlling person of, or a member of a group which controls, such corporation.

Personal Investments. Nothing herein contained shall prevent the Employee Executive from being a passive owner of not more than one percent (1%) of the outstanding stock of any class of a corporation which is engaged in a Competitive Business and which is publicly traded, or of a privately held corporation that is not competitive in any manner with the business of the Company, provided the Employee Executive (i) has no other participation in the management, operations or business of such corporation and (ii) is not a controlling person of, or a member of a group which controls, such corporation.