definiens: . For purposes of this Agreement, the term shall mean : SECv2 - Rugby Stock Purchase.doc Confidential Treatment -Noted by * and Strike - Thrfmgh 26 Confidential Treatment -Noted by * and Strike - Through any present or fonner officer or director, direct or indirect 10 % stockholder or present affiliate of the Company or any of its Subsidiaries, any present or fonner known spouse, ancestor or descendant of any of the aforementioned persons or any trust or other similar entity for the benefit of any of the foregoing persons . No property or interest in any property ( including, without limitation, designs and drawings concerning machinery ) which relates to and is or will be necessary or useful in the present or currently contemplated future operation of the Company 's or its Subsidiaries ' respective businesses, is presently owned by or leased or licensed by or to any Related Party . Prior to the Closing, all amounts due and owing to or from the Company or its Subsidiaries by or to any of the Related Parties ( excluding the amounts contemplated in Section 5.3(j ) and employee compensation and other incidents of employment ) shall be paid in full and all amounts owed by the Company or its Subsidiaries to any Related Party shall be canceled and of no further force and effect . Except for the ownership of securities representing less than a 5 % equity interest in various publicly traded companies, neither the Company, its Subsidiaries, nor to the Company 's knowledge, any present or fonner officer or director of the Company or any present or fonner known spouse, ancestor or descendant of any of the aforementioned persons or any trust or other similar entity for the benefit of any of the foregoing persons has an interest, directly or indirectly, in any business, corporate or otherwise, which is in competition with the Company 's or its Subsidiaries ' respective businesses