| Our Code of Ethics
The Company has a Code
of Conduct applicable to all directors and employees of the company.
The Chief Executive Officer and all senior financial officers, including
the Chief Financial Officer and principal accounting officer, are
bound by the provisions set forth therein relating to ethical conduct,
conflicts of interest, and compliance with law. In addition to the
Code of Business Conduct and Ethics, the Chief Executive Officer
and senior financial officers are subject to the following additional
specific policies:
1. The Chief Executive Officer
and all senior financial officers are responsible for full, fair,
accurate, timely, and understandable disclosure in the periodic
reports required to be filed by the Company with the SEC. Accordingly,
it is the responsibility of the Chief Executive Officer and each
senior financial officer promptly to bring to the attention of the
Audit Committee or Board of Directors, as applicable, any material
information of which he or she may become aware that affects the
disclosures made by the Company in its public filings or otherwise
assist the Audit Committee or Board of Directors, as applicable,
in fulfilling their responsibilities.
2. The Chief Executive Officer
and each senior financial officer shall promptly bring to the attention
of the Audit Committee or Board of Directors, as applicable, any
information he or she may have concerning (a) significant deficiencies
in the design or operation of internal controls that could adversely
affect the Company’s ability to record, process, summarize,
and report financial data or (b) any fraud, whether or not material,
that involves management or other employees who have a significant
role in the Company’s financial reporting, disclosures, or
internal controls.
3. The Chief Executive Officer
and each senior financial officer shall promptly bring to the attention
of the Audit Committee or Board of Directors, as applicable, any
information he or she may have concerning any violation of this
Code or the Company’s Code of Business Conduct and Ethics,
including any actual or apparent conflicts of interest between personal
and professional relationships, involving any management or other
employees who have a significant role in the Company’s financial
reporting, disclosures, or internal controls.
4. The Chief Executive Officer
and each senior financial officer shall promptly bring to the attention
of the Audit Committee or Board of Directors, as applicable, any
information he or she may have concerning evidence of a material
violation of the securities or other laws, rules, or regulations
applicable to the Company and the operation of its business, by
the Company or any agent thereof, or of violation of the Code of
Conduct or of these additional procedures.
5. The Board of Directors shall
determine, or designate appropriate persons to determine, appropriate
actions to be taken in the event of violations of the Code of Conduct
or of these additional procedures by the Chief Executive Officer
and the Company’s senior financial officers. Such actions
shall be reasonably designed to deter wrongdoing and to promote
accountability for adherence to the Code of Conduct and to these
additional procedures, and may include written notices to the individual
involved that the Board has determined that there has been a violation,
censure by the Board, demotion or re-assignment of the individual
involved, suspension with or without pay or benefits (as determined
by the Board), and termination of the individual’s employment.
In determining the appropriate action in a particular case, the
Board of Directors or such designee shall take into account all
relevant information, including the nature and severity of the violation,
whether the violation was a single occurrence or repeated occurrences,
whether the violation appears to have been intentional or inadvertent,
whether the individual in question had been advised prior to the
violation as to the proper course of action, and whether or not
the individual in question had committed other violations in the
past.
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