OUR CODE OF CONDUCT

Financial Integrity and Reporting

QuScient shall maintain its accounts and report financial results in a true and fair manner consistent with US GAAP in addition to applicable financial standards. QuScient shall maintain sufficient business and reporting controls consistent with its size to protect stockholders' interest. QuScient will not falsify records or reports.

Improper or Questionable payments

QuScient shall not make improper or questionable payments of company funds to anyone for obtaining or retaining business or securing any improper advantage.

Political and Charitable contributions

QuScient shall not fund or support any specific political party or candidate for political office. QuScient's assets shall not be used for any political campaigns. QuScient will not interfere with the employees' right to have their own views on politics. Use of QuScient name to endorse a charitable organization or event is not permitted without the prior approval of the Board.

Government Inquiries

QuScient is committed to fairness, honesty and integrity in dealing with the government and regulatory agencies with which we interact.

QuScient and its employees, agents and contractors must cooperate with appropriate government inquiries and investigations. However, it is important to protect the legal rights of QuScient with respect to its confidential information. No financial information may be disclosed without the prior approval of the Chief Financial Officer.

Conflicts of interest

QuScient expects its directors, officers and employees to have no conflict of interest in their dealings on behalf of QuScient, in their dealings in the market place or in their dealings with each other. In the unfortunate event of a conflict of interest arising, directors, officers and employees are expected to disclose such a conflict immediately to the CEO and an independent director.

Conflicts of interest arise, among other instances, when a director, officer or employee

• competes with QuScient's business while being engaged with QuScient directly or indirectly
• converts QuScient's business opportunity into a personal opportunity for him/her or relatives
• uses privileged information received in the course of business for personal gain
• uses business assets/property for personal purposes
• uses business hours for unrelated purposes
• receives improper personal benefits due to his/her position in QuScient
• accepts gifts or value from anyone dealing with QuScient or from a competitor
• owns a material interest in any competitor, customer, supplier (<2% shareholding in a public company is not considered material)
• is unable to act in QuScient's best interest because of conflicts with private interests

Confidentiality

All confidential or proprietary information received in the course of business from customers and suppliers are to be treated confidential and protected against disclosure and improper use.

Every director, officer and employee of QuScient shall enter into a legally enforceable "covenant to not disclose confidential information". This obligation shall survive the termination of the engagement with QuScient. QuScient shall not forgive willful disclosure of confidential information and shall pursue maximum legal remedy and punishment for willful disclosure.

QuScient shall have in place systems and policies to prevent unauthorized access to premises, systems and data and to prevent unauthorized recording or copying of data. Every director, officer and employee shall respect these policies to the fullest extent in letter and spirit.

Information already available in public domain or known prior to disclosure by customer is not considered confidential or proprietary. Disclosure under compulsion from law is not a violation of this covenant.

Sexual harassment

Sexual harassment includes deliberate or repeated unsolicited verbal comments, gestures or physical contact of a sexual nature including unwelcome sexual advances, requests for sexual favors and other verbal or physical contact of a sexual nature when:

• submission to such conduct
• is expected explicitly or implicitly
• hiring, promotion, compensation and other employment decisions or for a non-hostile work environment.

Every director, officer, employee shall ensure such a conduct is avoided. All complaints shall be handled in a timely, confidential and independent manner.

Back

Next