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CONFLICT OF INTEREST EXEMPTION (CONTRAVAC, INC.)

WHEREAS, the School of Medicine wishes to enter into sponsored research contracts with ContraVac, Inc., for developing immunodiagnostic devices for detecting and quantifying human sperm (the Home Sperm Test, SpermCheck); and

WHEREAS, John C. Herr, Ph.D., and Mary Jo Herriman, who are married to each other, have disclosed in advance their combined equity interest of 100 percent in ContraVac, Inc.; and

WHEREAS, the University's entry into research agreements with ContraVac, Inc., would thereby expose Mr. Herr and Ms. Herriman 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 the conflict of interest of John C. Herr, Ph.D., and Mary Jo Herriman, is approved by the Board of Visitors in order to permit the University to enter into agreements with ContraVac, Inc., for research funding for the development of a recombinant monoclonal antibody for use as a new type of spermicide; provided, as required by the law, Mr. Herr and Ms. Herriman file the required annual disclosure statement of personal interests in ContraVac, 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.