Common use of Director Conflicts of Interest Clause in Contracts

Director Conflicts of Interest. (A) Neither Mr. Last Name nor any affiliate thereof will enter into any contract or other transaction with AmeriNet unless the fact of such relationship or interest is disclosed or known to AmeriNet's board of directors or committee which authorizes, approves or ratifies the contract or transaction and it is approved by a vote or consent sufficient for the purpose without counting the vote or consent of Mr. Last Name ; and, if stockholder approval is required, the fact of such relationship or interest is disclosed or known to the stockholders entitled to vote and they authorize, approve or ratify such contract or transaction by vote or written consent. (B) Mr. Last Name may be counted in determining the presence of a quorum at a meeting of AmeriNet's board of directors or a committee thereof which authorizes, approves or ratifies such contract or transaction.