Common use of Passive Interest Clause in Contracts

Passive Interest. Nothing in this Agreement prevents the Executive from passively owning, directly or indirectly, individually or in the aggregate (including without limitation by being a member of a group within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amended) 2% or less of any class of security of a Competing Business or securities of any Competing Business that has a class of securities registered pursuant to the Exchange Act.

Passive Interest. Nothing in this Agreement prevents the Executive a Principal from passively owning, directly or indirectly, individually or in the aggregate (including without limitation by being a member of a group within the meaning of Rule 13d-5 under the Securities Exchange Act of 1934, as amendedAct) 2% or less of (a) any class of security of a Competing Business or (b) securities of any Competing Business that has a class of securities registered pursuant to the Exchange Act.