Page 15 - EthicsCode
P. 15

IMC                     	 create conflicts of interest. It is almost always a conflict of interest for a Covered Party to work
                        	 simultaneously for a competitor, customer or supplier.
                        	 Conflicts of interest may not always be clear-cut, so if you have a question, you should consult
                        	 with your supervisor or manager or, if circumstances warrant, the chief financial officer or chief
                        	 legal officer of the Company. Any Covered Party who becomes aware of a conflict or potential
                        	 conflict should bring it to the attention of a supervisor, manager or other appropriate personnel
                        	 or consult the procedures described in Section E of this Code.

                        	 All directors and executive officers of the Company ,[and the chief executive officers and chief
                        	 financial officers of Berkshire Hathaway’s subsidiaries,] shall disclose any material transaction
                        	 or relationship that reasonably could be expected to give rise to such a conflict to the Chairman
                        	 of the Company’s Audit Committee. No action may be taken with respect to such transaction or
                        	 party unless and until such action has been approved by the Audit Committee.

                        2.	 Corporate Opportunities.

                        	 Covered Parties are prohibited from taking for themselves opportunities that are discovered
                        	 through the use of corporate property, information or position without the consent of the Board
                        	 of Directors of the Company. No Covered Party may use corporate property, information or
                        	 position for improper personal gain, and no employee may compete with the Company directly
                        	 or indirectly. Covered Parties owe a duty to the Company to advance its legitimate interests
                        	 whenever possible.

                        3.	 Fair Dealing.

                        	 Covered Parties shall behave honestly and ethically at all times and with all people. They shall 	
                        	 act in good faith, with due care, and shall engage only in fair and open competition, by treating
                        	 ethically competitors, suppliers, customers, and colleagues. Stealing proprietary information,
                        	 possessing trade secret information that was obtained without the owner’s consent, or inducing
                        	 such disclosures by past or present employees of other companies is prohibited. No Covered
                        	 Party should take unfair advantage of anyone through manipulation, concealment, abuse of
                        	 privileged information, misrepresentation of material facts, or any other unfair practice.

                        	 The purpose of business entertainment and gifts in a commercial setting is to create good
                        	 will and sound working relationships, not to gain unfair advantage with customers. No gift or
                        	 entertainment should ever be offered or accepted by a Covered Party or any family member of
                        	 a Covered Party unless it (1) is consistent with customary business practices, (2) is not
                        	 excessive in value, (3) cannot be construed as a bribe or payoff and (4) does not violate any laws
                        	 or regulations. The offer or acceptance of cash gifts by any Covered Party is prohibited. Covered
                        	 Parties should discuss with their supervisors, managers or other appropriate personnel any gifts
                        	 or proposed gifts which they think may be inappropriate.

   10   11   12   13   14   15   16   17   18   19   20