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CONFLICT OF INTEREST EXEMPTION — DIRECTED VAPOR TECHNOLOGIES INTERNATIONAL, INCORPORATED
 
 
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CONFLICT OF INTEREST EXEMPTION — DIRECTED VAPOR TECHNOLOGIES INTERNATIONAL, INCORPORATED

The following resolution was adopted:

WHEREAS, the University of Virginia wishes to enter into a contract with Directed Vapor Technologies International, Incorporated, to test vapor deposition processes and materials for commercial markets; and

WHEREAS, James Groves, Douglas Queheillalt and Derek Haas have disclosed in advance their equity interests in DVTI, Incorporated; and

WHEREAS, the University of Virginia's entry into an agreement with DVTI, Incorporated, would thereby expose Drs. Groves, Queheillalt and Haas to violation of the Virginia Conflict of Interests Act unless approved by the Board as permitted by Section 2.1-639.6(c) (7) of the Code of Virginia;

RESOLVED that the conflict of interest of James Groves, Douglas Queheillalt and Derek Haas is approved by the Board of Visitors in order to permit the University to enter into an agreement with DVTI, Incorporated, for funding to continue specific commercial application of vapor deposition technology; provided, as required by the law, that James Groves, Douglas Queheillalt and Derek Haas file the required annual disclosure statement of personal interests in DVTI, Incorporated, 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.