Conflicts of Interest Policy - 2. Procedures Applicable to Designated Faculty and Designated Administrative Employees

a. Upon review of the circumstances surrounding the conflict or potential conflict of interest involving a Designated Faculty or Designated Administrative Employee, the General Counsel shall make a recommendation to the Provost, if the conflict involves a member of the Faculty, or to the Executive Vice President for Business & Operations, if the conflict involves a Designated Administrative Employee. Such recommendation shall (i) determine the transaction or situation to be inconsequential and approve it; (ii) determine the transaction or situation to be consequential and avoid it; or (iii) refer the conflict of interest situation to the committee described in paragraph 2(c) below. Upon review of the General Counsel’s recommendation, the Provost or Executive Vice President for Business & Operations, as appropriate, shall make such determination or referral.

b. As described in 1(b) of Section V, certain circumstances will result in a presumption that the conflict of interest situation or potential conflict of interest situation is inconsequential and should accordingly be approved by the Provost or the Executive Vice President for Business & Operations, as appropriate, without the need for review by the committee. Upon such approval, the conflict of interest situation shall be considered resolved.

c. In the event that the Provost or the Executive Vice President for Business & Operations decides to refer the conflict of interest situation to a committee, the committee shall consist of three members. If the conflict involves a Faculty member, the committee shall consist of a member of the Office of the Provost and the Vice President of Human Resources or their designee and a representative from the Office of the General Counsel. If the conflict involves a Designated Administrative Employee, the Executive Vice President for Business & Operations or their designee, rather than a representative from the Office of the Provost, shall be the third member of the committee. While disclosure of a conflict situation or potential conflict situation is required at the earliest time practicable, once a situation has been identified as an issue for committee review, and a competitive process is involved, the committee need not be convened to review the situation until the potentially conflicted party (associated with a covered individual under the Policy) has been selected after such competitive process. After consideration of the matter, the committee will make a recommendation to the Provost or Executive Vice President for Business & Operations, as appropriate, on whether the conflict should be approved or disapproved. All recommendations to approve a conflict must be based upon a clear showing that: (1) other reasonable alternatives were considered and (2) approval of the conflict of interest situation is “in the best interests of and provides a substantial benefit to the University.” Any recommendation that a conflict of interest situation be approved must be sent by the Provost or the Executive Vice President for Business & Operations, as appropriate, to the President and the General Counsel for final review and approval.

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