Corporate Gift Policy (Supplement to Code of Conduct)

Transcription

1 Corporate Gift Policy (Supplement to Code of Conduct) Version of January, 2015 Policy Owner: Group VP Corporate Compliance Corporate Gift Policy 1

2 Scope of this Policy This policy outlines gifts and entertainment that are prohibited and those that can be given or received, and explains record keeping requirements. This policy applies to all employees of Firmenich worldwide. This policy supplements, and should be read in conjunction with, the Firmenich Code of Conduct (section I) and the Firmenich Purchasing Policy (section 8). Due to the nature of the role, Purchasing Department employees need to adhere to the stricter components of the Purchasing Policy if there is any inconsistency between this policy and the Purchasing Policy. Principle Statements Firmenich is committed to maintain the highest standards of ethics. Our relationships must be based on integrity and sound business decisions. Giving or receiving reasonable gifts can be part of normal business relationships and this policy provides rules to guide your decisions related to gifts. When done within established and reasonable limits, these activities continue to be a lawful and appropriate business practice. When dealing with customers, partners, and/or government officials, employees must ensure they offer, give, and receive gifts, only if it is of reasonable and nominal value, complies with the recipients own laws and corporate regulations, is not given with any corrupt intent to improperly influence the person s actions or decisions, and is infrequent. Gifts can also create a perception of conflict of interest that can undermine the integrity of our business relationships, and are subject to potential abuse. Firmenich sets specific limits on the types and value of gifts you are permitted to accept and give in connection with your employment, and requires visibility and disclosure of gifts. The Spirit of this Policy: The exchange of gifts must be actively discouraged in relationships with third parties. Employees must also understand and respect third parties policies in this area. You must always act in line with the spirit of this Policy. Corporate Gift Policy 2

3 Must nots The following prohibitions apply: Gifts and entertainment, including payment towards travel or accommodation must not be offered to any government or regulatory official or any employee of state owned entities. In an exceptional situation, prior written authorization of the Group Vice President Corporate Compliance must be secured through use of a document prepared for this purpose. (See Authorization for gift exception form ). Giving or receiving money or cash equivalents such as gift cards, gift certificates or vouchers violates this Policy and is not allowed. Offering a business gift that would violate the recipient s company or agency policy to accept it. Giving or receiving entertainment and recreation, such as tickets to a sporting event, where a representative of the company offering the business gift will not be accompanying the recipient to the event. Gifts or entertainment must not be offered to, or accepted by, anyone involved in Firmenich tendering or bidding activity. Value of Gifts If an employee is offered a gift with an estimated value greater than the equivalent of CHF 50 (Fifty Swiss Francs), the employee is required to seek approval of their relevant Division Head prior to acceptance. If an employee desires to offer a gift to a party outside of Firmenich with an estimated value greater than the equivalent of CHF 50 (Fifty Swiss Francs), the employee is required to seek approval of their relevant Division Head prior to granting of gift. Meals and Entertainment Hospitality can have a positive role in building relationships with customers, suppliers and other third parties. However, gifts and entertainment must never be used for improper advantage or create an actual or perceived conflict of interest. Entertainment with a valid business purpose that is in the best interest of Firmenich can be offered or accepted, as long as: It is not intended and could not be perceived as intending to influence decisions or create improper advantage. Corporate Gift Policy 3

4 It is in the form of a meal, attendance at, or participation in, a cultural or sporting event, or similar responsible and customary activity. The usual business contacts from Firmenich and the other third parties are physically present. Internal Gifts and Entertaining Meals and entertainment involving only Firmenich employees (internal entertaining) should follow the guidelines of the Corporate T&E Policy and should be in line with responsible business practice and country norms/customs. Certain gifts (e.g. flowers for funerals, get well gift for hospitalized employee, etc.) should follow local country customs. Standard Firmenich Corporate Gifts (e.g. annual private edition perfume, candles, calendars, etc.) are considered within the nominal level designated in this policy. Recordkeeping - Corporate Gift Register All gifts received from third parties, even when below the established value of CHF 50, must be recorded via the appropriate form ( Received Gift form ) and sent to the Corporate Gift Register mailbox (gift.register@firmenich.com) within five normal business days following the receipt of such gift. All gifts given by Firmenich employees to third parties, with the exception of Standard Firmenich Corporate Gifts with a value less than CHF 50, must be recorded via the appropriate form ( Provided Gift form ) and sent to the Corporate Gift Register mailbox (gift.register@firmenich.com) within five normal business days following the granting of such gift Details to be provided for entry into the Gift Register include: For Gifts Received Employee name and details of the gift received. The name of the person providing the gift or benefit including the name of the organization that they represent. Details of the final resolution including if the gift was retained. For Gifts Provided Recipients name and employer Details and value of gift provided Reason or desired outcome for providing the gift. Corporate Gift Policy 4

5 Review of Corporate Gift Register The Corporate Gift Register will be reviewed on a regular basis by the Group Vice President of Corporate Compliance. The Corporate Gift Register must be maintained and available for inspection for a period of five years. Supplemental Guidance: When deciding on the appropriateness of giving or receiving a business gift, employees should consider: how it compares in value to the usual gift-giving practices in the applicable industry and country; whether any legal or regulatory restrictions exist; the total value of business gifts to or from that person or entity in the current year; the suitability of the business gift given the Firmenich employee s position at Firmenich; the impact of the business gift on building positive business relations with the recipient or provider of the business gift; and whether an objective party would consider the business gift to be reasonable. If an employee intends to offer, or is offered a business gift that could be viewed as excessive under this Policy, the employee must receive advance approval from his/her supervisor, who, in turn, should consult with the Division Head, or Group Vice President Corporate Compliance. Violations and Penalties This policy applies to all employees. Any violation of this policy will result in disciplinary action, up to and including termination from employment. Corporate Gift Policy 5