PASSIVE OWNER. The covenant not to compete restrictions contained in this Agreement shall not prohibit Grantee from being a passive owner of not more than five percent (5%) of the outstanding stock of an entity that is publicly traded, so long as Grantee (A) has no active participation in the business or management of such entity, (B) is not a director or trustee of such entity, and (C) does not hold a similar position with such entity.
Appears in 2 contracts
Sources: Restricted Stock Unit Agreement (EchoStar CORP), Restricted Stock Unit Agreement (Hughes Satellite Systems Corp)