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CONFLICT OF INTEREST EXEMPTION (BIOPHILE, INC.)

WHEREAS, the School of Medicine wishes to enter into sponsored research contracts with Biophile, Inc., for developing automated robotic storage and retrieval management systems; and

WHEREAS, Robin A. Felder, Ph.D., has disclosed in advance his equity interests in excess of three percent, in Biophile, Inc.; and

WHEREAS, the University's entry into research agreements with Biophile, Inc., would thereby expose Mr. Felder to violation of the Virginia Conflict of Interests Act unless approved by the Board as permitted by §2.1-639.6(c) (7) of the Code of Virginia;

RESOLVED that a waiver of the conflict of interest of Robin A. Felder, Ph.D., is approved by the Board of Visitors in order to permit the University to enter into agreements with Biophile, Inc., for research funding for the development of automated robotic storage and retrieval management systems; provided, as required by the law, Mr. Felder files the required annual disclosure statement of personal interests in Biophile, Inc., the University files the required annual report concerning the contracts with the Secretary of the Commonwealth, and the relevant department chair vigilantly oversees application of University resources in the best interests of the University and in accordance with policy.