Extract to table

Because VPI holds an active FCL, the introduction of FOCI must be mitigated through an approved FOCI mitigation instrument in order for VPI to maintain its clearance and continue performing on classified contracts

DCSA must be notified and approve the FOCI mitigation instrument before the change in ownership is consummated

) Bryce Hendrickson must be retained as FSO

11, a cleared contractor must report to DCSA any change in its ownership structure that may give rise to FOCI, and DCSA must determine whether the change requires FOCI mitigation and, if so, the appropriate type of mitigation instrument

11(d), a cleared contractor is required to report to DCSA any change in its ownership or control that may affect its FCL or introduce FOCI

The reporting obligation is triggered by the execution of a definitive agreement and must be fulfilled sufficiently in advance of closing to allow DCSA to review and approve the proposed FOCI mitigation framework