STANDARDS OF BUSINESS CONDUCT STATEMENT University of the Sciences

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					                   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.