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