definiens: . For purpos es of this Agreement, theterm shall mean : any present or for mer officer or directorpresent 10 % stockholder or present affiliate of the Company, any present orformer known spouse, ancestor or descendant of any of the aforementioned personsor any trust or other similar entity for the benefi t of any of the foregoingpersons . No property or interest in any property ( i ncluding, without limitation, designs and drawings concerning machinery ) which re lates to and is or will benecessary or useful in the present or currently con templated future operation ofthe Company 's business, is presently owned by or le ased or licensed by or to anyRelated Party . Prior to the Closing, all amounts du e and owing to or from theCompany by or to any of the Related Parties ( exclud ing employee compensation andother incidents of employment ) shall be paid in ful l. Except for the ownershipof securities representing less than a 2 % equity in terest in various publiclytraded companies, neither the Company, nor to the C ompany 's knowledge, anyRelated Party has an interest, directly or indirect ly, in any business, corporate or otherwise, which is in competition wit h the Company 's business