Common use of Transactions with Interested Parties Clause in Contracts

Transactions with Interested Parties. 12.1. Any director, officer, or other employee with an interest in any company transaction shall fully disclose that interest before the company undertakes the transaction. Should a director, officer or employee discover their interest in a company transaction after it begins, the director, officer or employee shall disclose their interest immediately in writing to the Board of Directors. 12.2. A director, officer, or employee is “interested” in a transaction when he/she: 12.2.1. is a director, officer, or employee of an entity that transacts business or proposes to transact business with the company; 12.2.2. is closely related to any director, officer, or employee of a company that transacts business or proposes to transact business with the company; or 12.2.3. has an ownership interest in any entity transacting business with the company. 12.3. The Audit Committee of the Board of Directors shall review these transactions. In order for the company to undertake the transaction, the Audit Committee must approve it.

Transactions with Interested Parties. 12.1. Any director, officer, or other employee with an interest in any company transaction shall fully disclose that interest before the company undertakes the transaction. Should a director, officer or employee discover their interest in a company transaction after it begins, the director, officer or employee shall disclose their interest immediately in writing to the Board of Directors. 12.2. A director, officer, or employee is “interested” in a transaction when he/she: 12.2.1. is a director, officer, or employee of an entity that transacts business or proposes to transact business with the company; 12.2.2. is closely related to any director, officer, or employee of a company that transacts business or proposes to transact business with the company; or 12.2.3. has an ownership interest in any entity transacting business with the company. 12.3. The Audit Committee of the Board of Directors shall review these transactions. In order for the company to undertake the transaction, the Audit Committee must approve it.. Employment Contract Splendid Zuo August 9, 2005

Transactions with Interested Parties. 12.1. Any director, officer, or other employee with an interest in any company transaction shall fully disclose that interest before the company undertakes the transaction. Should a director, officer or employee discover their interest in a company transaction after it begins, the director, officer or employee shall disclose their interest immediately in writing to the Board of Directors. 12.2. A director, officer, or employee is “interested” in a transaction when he/she: 12.2.1. is a director, officer, or employee of an entity that transacts business or proposes to transact business with the company; 12.2.2. ; is closely related to any director, officer, or employee of a company that transacts business or proposes to transact business with the company; or 12.2.312.2.2. has an ownership interest in any entity transacting business with the company. 12.3. The Audit Committee of the Board of Directors shall review these transactions. In order for the company to undertake the transaction, the Audit Committee must approve it.