Common use of Commitment to the Company Clause in Contracts

Commitment to the Company. (a) During the Term, Employee shall not be involved, individually or as an Employee, principal, officer, general partner, director or shareholder, in any real estate development activities without first obtaining the consent and approval of a majority of the Company’s Board of Directors. The limitation contained in this Section 4 shall not apply, however, to the ownership of not more than one percent (l%) of the outstanding shares of any class of securities of a publicly-held issuer subject to the public reporting requirements of the Securities and Exchange Act of 1934, as amended, or any limited partner interest in a limited partnership or similar passive investment interest so long as the nature of such investment prevents, pursuant to applicable law, Employee’s control of the management of the issuer of such investment interests. For purposes of this Section 4, Employee shall be deemed the owner of any interests held by Employee, Employee’s spouse, or any other unemancipated minor member of the Employee’s family. (b) Employee shall, at all times during the Term, strictly adhere to and comply with all of Company’s policies, rules and procedures as they currently exist and as they may be changed by the Company. Employee agrees that to the best of his ability and experience he will at all times loyally and conscientiously perform all of the duties and obligations required of him expressly or by implication by the terms of this Agreement.

Commitment to the Company. (a) During the Term, Employee shall not be involved, individually or as an Employee, principal, officer, general partner, director or shareholder, in the marketing and/ or sale of any real estate development properties or any real estate activities that are not proprietary to Kennedy-Wilson, Inc. without first obtaining the consent and approval of a majority approva▇ ▇▇ ▇ ▇▇▇▇▇▇▇y of the Company’s 's Board of Directors. The limitation contained in this Section 4 shall not apply, however, to the ownership of not more than one percent (l%1%) of the outstanding shares of any class of securities of a publicly-held issuer subject to the public reporting requirements of the Securities and Exchange Act of 1934, as amended, or any limited partner interest in a limited partnership or similar passive investment interest so long as the nature of such investment prevents, pursuant to applicable law, Employee’s 's control of the management of the issuer of such investment interests. For purposes of this Section 4, Employee shall be deemed the owner of any interests held by Employee, Employee’s 's spouse, or any other unemancipated minor member of the Employee’s 's family. (b) Employee shall, at all times during the Term, strictly adhere to and comply with all of Company’s 's policies, rules and procedures as they currently exist and as they may be changed by the Company. Employee agrees that to the best of his her ability and experience he she will at all times loyally and conscientiously perform all of the duties and obligations required of him expressly or by implication by the terms of this Agreement.

Commitment to the Company. (a) During the Term, Employee shall not be involved, individually or as an Employee, principal, officer, general partner, director or shareholder, in the marketing and! or sale of any real estate development properties or any real estate activities that are not proprietary to ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, without first obtaining the consent and approval of a majority of the Company’s Board of Directors. The limitation contained in this Section 4 shall not apply, however, to the ownership of not more than one percent (l%1%) of the outstanding shares of any class of securities of a publicly-held issuer subject to the public reporting requirements of the Securities and Exchange Act of 1934, as amended, or any limited partner interest in a limited partnership or similar passive investment interest so long as the nature of such investment prevents, pursuant to applicable law, Employee’s control of the management of the issuer of such investment interests. For purposes of this Section 4, Employee shall be deemed the owner of any interests held by Employee, Employee’s spouse, or any other unemancipated un-emancipated minor member of the Employee’s family. (b) Employee shall, at all times during the Term, strictly adhere to and comply with all of Company’s policies, rules and procedures as they currently exist and as they may be changed by the Company. Employee agrees that to the best of his her ability and experience he she will at all times loyally and conscientiously perform all of the duties and obligations required of him expressly or by implication by the terms of this Agreement.

Commitment to the Company. (a) During the Term, Employee shall not be involved, individually or as an Employee, principal, officer, general partner, director or shareholder, in the marketing and! or sale of any real estate development properties or any real estate activities that are not proprietary to ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, without first obtaining the consent and approval of a majority of the Company’s Board of DirectorsChairman / CEO. The limitation contained in this Section 4 shall not apply, however, to the ownership of not more than one percent (l%) of the outstanding shares of any class of securities of a publicly-held issuer subject to the public reporting requirements of the Securities and Exchange Act of 1934, as amended, or any limited partner interest in a limited partnership or similar passive investment interest so long as the nature of such investment prevents, pursuant to applicable law, Employee’s control of the management of the issuer of such investment interests. For purposes of this Section 4, Employee shall be deemed the owner of any interests held by Employee, Employee’s ’ spouse, or any other unemancipated un-emancipated minor member of the Employee’s family. (b) Employee shall, at all times during the Term, strictly adhere to and comply with all of Company’s policies, rules and procedures as they currently exist and as they may be changed by the Company. Employee agrees that to the best of his ability and experience he will at all times loyally and conscientiously perform all of the duties and obligations required of him expressly or by implication by the terms of this Agreement.