STANDARDS OF BUSINESS CONDUCT STATEMENT University of the Sciences in Philadelphia (“USP” or “University”) Standards of Business Conduct Statement (“Statement”) is an acknowledgement by each member of the University’s exempt staff of their responsibility to uphold the highest corporate ethics, to carry out their responsibilities with integrity, and to commit to do the right thing in the conduct of their professional duties. Integral to this commitment is the practice of our shared values. These shared values define who we are and apply to every member of the USP community. The USP Standards of Business Conduct focus on the following corporate values to shape our actions: 1. Uphold the highest professional standards. 2. Comply with all federal, state, and local laws and regulations. 3. Afford every student, faculty and staff member dignity and respect, recognizing that we are partners and all share in the University’s success. 4. Act responsibly and with integrity, both in our professional actions and as members of the communities in which we live and work. Adherence to the University’s Standards of Business Conduct requires every employee to be familiar with its terms and to: 1. Maintain honestly and fairness in all activities and relationships. 2. Avoid conflicts of interest. 3. Foster an atmosphere in which fairness and equal opportunity are extended to every member of the USP community. 4. Strive to create a safe workplace and to protect the environment. 5. Sustain a culture through all levels of leadership where ethical conduct is recognized, respected and promoted by every member of our faculty and staff. Decisions of faculty and exempt staff are to be made on the basis of a desire to advance the best interests of the institution. The integrity of University of the Sciences in Philadelphia must be protected at all times. Faculty and exempt staff inevitably are involved in the affairs of other institutions and organizations. Faculty and exempt staff will include individuals who have relationships and affiliations that may raise questions about perceived conflicts of interest. Although many such potential conflicts are and will be deemed inconsequential, these individuals have the responsibility to ensure that their area Vice President is made aware of situations that involve personal, familial, or business relationships that could be troublesome. Thus the University requires each Faculty and exempt staff annually (a) to be familiar with the terms of this policy; (b) to disclose to their area Vice President any possible personal, familial, or business relationships that reasonably might give rise to a conflict involving the university; and (c) to acknowledge by his or her signature that he or she is in accordance with the letter and spirit of this policy. All faculty and exempt staff are requested to disclose any relationships (a) they or members of their family maintain with organizations that do business with the university, or (b) that potentially could be construed to affect their independent, unbiased judgment in light of their decision-making authority and responsibility. The following definitions are provided to help faculty and staff members determine whether a relationship should be disclosed: Business Relationships: One in which a USP employee or member of their family serves as an officer, owner, director, employee, partner, trustee, or controlling stockholder of a company or organization that does business with the University. Business Interest: One in which a USP employee or family member is the actual or beneficial owner of more than 50% of the voting stock or controlling interest of a company or other entity. Family Member: A spouse, parent, sibling, child, dependent, or relative (if the latter resides in the same household as the staff member) is considered a family member. Benefit: When an employee or member of their family, as defined above is (a) the actual or beneficial owner or has the controlling interest of a company or organization that does business with the university, or (b) has any other dealings with such a company or organization, a result of which the faculty/staff member or member of their family benefits directly or indirectly or has the potential to benefit directly or indirectly from the university’s relationship with that company or organization. Failure to adhere to the University’s Standards of Business Conduct may result in disciplinary action up to, and including, termination. _______________________________________________________________________________ I certify that I have read and understand the University’s Standards of Business Conduct and will disclose any conflicts as described in the policy. _______________________________________________________________________________ Name (please print) _______________________________________________________________________________ Signature Date After you have read through and signed this document, please return it to Human Resources, Box 97.
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