Common use of Public Company Exception Clause in Contracts

Public Company Exception. The prohibitions contained in Sections 4 and 5 do not prohibit Employee's ownership of stock which is publicly traded, provided that (1) the investment is passive, (2) Employee has no other involvement with the company, (3) Employee's interest is less than five (5%) percent of the shares of the company, and (4) Employee makes full disclosure to Company of the stock at the time that Employee acquires the shares of stock.

Public Company Exception. The prohibitions contained in Sections 4 and 5 this SECTION 7 do not prohibit the Employee's ’s ownership of stock which is publicly traded, provided that (1) the investment is passive, (2) the Employee has no other involvement with the company, (3) the Employee's ’s interest is less than five percent (5%) percent of the shares of the company, and (4) the Employee makes full disclosure to the Company of the stock at the time that the Employee acquires the shares of stock.

Public Company Exception. The prohibitions contained in Sections 4 and 5 this SECTION 7 do not prohibit the Employee's ownership of stock which is publicly traded, provided that (1) the investment is passive, (2) the Employee has no other involvement with the company, (3) the Employee's interest is less than five percent (5%) percent of the shares of the company, and (4) the Employee makes full disclosure to the Company of the stock at the time that the Employee acquires the shares of stock.

Public Company Exception. The prohibitions contained in Sections 4 and 5 this SECTION 8 do not prohibit the Employee's ownership of stock which is publicly traded, provided that (1) the investment is passive, (2) the Employee has no other involvement with the company, (3) the Employee's interest is less than five percent (5%) percent of the shares of the company, and (4) the Employee makes full disclosure to the Company of the stock at the time that the Employee acquires the shares of stock.