A few initial comments
----------------------

A) Change in footnote:
JAVA script for high performance computing,
to
JAVA for high performance computing,

B) You write:
[Geoffrey, what does "assist in advising with respect to 1 portfolio company in
each 12 month period" mean?  How does that relate to the proposal review?]

This means there is one company that will be evaluated in greater detail.
Here is where possible proprietary information would be involved
All other work involves non proprietary information

C) You write
Professor Fox's consultancy agreement will be modified to state this, and to
acknowledge and incorporate by reference the relevant provisions of this conflicts
management plan.

So we need to add to 3CV agreement something like
1) Professor Fox can decline to review any company information, as part of his
consultancy with 3CV, that he feels would conflict with other obligations. This
action would not be taken arbitarily but for good reason such as the company is
disclosing proprietary information that falls within the scope of his University
research and activities.
2) Professor Fox has a signed Conflict of Interest form with Indiana University.
Nothing in the 3CV agreement supercedes the rights of Fox and Indiana University
spelt out in this agreement or the University regulations.

Would you like to refine this or should I suggest it to 3CV

D) You write
Members of the panel will be required to sign non-disclosure confidentiality agreements prior to service.  

Maybe this should be more specific -- not clear what NDA is with.
How about:
Members of the panel will be required to sign non-disclosure confidentiality agreements prior to service. This covers proprietary technical information that
Professor Fox may need to disclose in the reviews.

E) You write:
7.	All materials submitted by Professor Fox for publication or other presentation in areas relating to the interests of Anabas and/or 3CV, will disclose all sources of support for the research, and will also disclose Professor Fox's financial interests and consulting/advising relationships with Anabas and 3CV.  

This appears to suggest that all/many papers I write will list affliation as

Computer Science, Informatics, Physics at Indiana University
Technical advisor to Anabas and 3CV

Actually Anabas and 3CV will probably be idyllically happy about this but
I think more normal would be mention
Technical advisor to Anabas and 3CV
if article happened to say something like
Market leaders in field are Anabas, Centra, Placeware and WebEx or equivalent
but not mention companies if I write (as I normally do) abstract articles
in field of Information technology/Collaboration