Code of Conduct
It is our Code to comply fully with all laws and to require all directors, officers and employees to avoid legal or unethical activities and conflicts of interest in connection with their responsibilities to MEMSIC, Inc.
The Company recognizes and respects each employee's right to privacy and interest in engaging in personal activities outside the scope of his or her employment with this Company. Each employee also has an obligation, however, to refrain from activities which conflict or interfere with the Company's operations or standing in the community.
The Company reserves the right to investigate and determine when an activity conflicts with the Company's interests and to take whatever action is necessary to resolve the conflict. If necessary, this action can include termination. This Code, and abiding by it, is a term and condition of employment or continued employment, and applies to all employees of the Company and its subsidiaries worldwide. The subjects of the general policies described in this Code are, in some cases, covered in more detail in a separate Code on such subject. [Copies of these policies are available under "Corporate Policies" on the opening page of the Company's Intranet.]
Conflicts of interest are not easy to define. In general, they represent situations in which the activities of a director, officer or employee could conflict with that person's responsibilities to the Company or to others with whom the Company does business. In many cases, it may be as important to avoid the appearance of a conflict as it is to avoid the conflict itself.
Listed below are some of the types of conduct which could violate this Code and certain procedures under this Code:
- 1. Conflicts of Interest.
- 2. Related Party Transactions.
- 3. Use of Company Funds; Sensitive Payments.
- 4. Outside Employment.
- 5. Accepting Gifts and Entertainment.
- 6. Fair Competition.
- 7. Legal Requirements.
- 8. Proper Accounting.
- 9. Dealing with Independent Accountants.
- 10. Political Activities.
- 11. Confidential Information.
- 12. E-mail, Communications and Internet Use.
- 13. Computer Security; Software Code of Ethics.
- 14. Waivers of this Business Conduct Code.
- 15. Violence.
- 16. False Claims.
- 17. Public Disclosures.
- 18. Compliance.
- 19. Disciplinary Action.
- 20. Acknowledgment and Annual Representation; Amendments.
- 21. Not an Employment Contract.
- 22. Complaints; Audit Committee.
- August 29, 2007
- Exhibit A
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