Common use of Financial Interest Defined Clause in Contracts

Financial Interest Defined. For purposes of this Section -------------------------- 4.01(a), Employee shall be deemed to be engaged in or to have a Financial Interest in a business if Employee is an employee, officer, director, consultant, independent contractor, proprietor, or partner of any person, partnership, corporation, trust or other entity which is engaged in such business, or if Employee directly or indirectly performs services for such entity or if Employee or any member of Employee'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 Employee or a member of Employee's immediate family from owning, for the purpose of passive investment, less than 2% of any class of securities of any publicly held corporation.