Common use of Financial Interest Defined Clause in Contracts

Financial Interest Defined. For purposes of this Agreement, Executive shall be deemed to be engaged in or to have a "Financial Interest" in a business if Executive is an employee, independent contractor, consultant, principal, agent, officer, director, partner, or shareholder, or if Executive directly or indirectly performs services for such entity, or if Executive or any member of Executive's immediate family beneficially owns an equity interest, or interest convertible into equity, in any such entity; provided, however that the foregoing shall not prohibit Executive or a member of Executive's immediate family from owning, for the purpose of passive investment, less than one percent (1%) of any class of securities of any publicly held company.

Financial Interest Defined. For purposes of this Agreement, Executive shall be deemed to be engaged in or to have a "“Financial Interest" ” in a business if Executive is an employee, independent contractor, consultant, principal, agent, officer, director, partner, or shareholder, or if Executive directly or indirectly performs services for such entity, or if Executive or any member of Executive's immediate family beneficially owns an equity interest, or interest convertible into equity, in any such entity; provided, however that the foregoing shall not prohibit Executive or a member of Executive's immediate family from owning, for the purpose of passive investment, less than one percent (1%) of any class of securities of any publicly held company.