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Code of Ethics
 
 

At LOGIC DEVICES we recognize our reason for being is to serve three constituencies: our customers, our shareholders, and our fellow employees, in that order. We are also mindful that we are dependent on, and therefore also responsible to, our suppliers. Together these are the stakeholders of LOGIC DEVICES.

Our customers pay our bills. They deserve quality products at competitive prices, delivered in a timely manner.

Our shareholders put up the money to acquire the tools we need to do the job. They deserve a competitive return on their investment.

Our fellow employees depend on LOGIC DEVICES to provide not only their food and shelter, but also to provide job growth and satisfaction.

All LOGIC DEVICES personnel, our employees, our officers, and our directors, are here to build the future: the future of technology, the future of our financial security, and the future of our working lives. Building the future requires consistent and conscientious commitment of our skills, our attention, and our energy. This is not a burden, rather it is exciting.

Quality is driven by commitment, the commitment to do a job right, to put in whatever effort is required to make it right, and to do more than the minimum required. When we make these commitments then we are truly committed to our customers, our shareholders, and our team.

For those of us who choose to abide by this creed, LOGIC DEVICES will be a fun place in which to grow. For those who do not, it may not be. Each of us can measure our performance by whether we are growing, producing, and striving to do more. If we cannot unequivocally state that we are growing, producing, and striving, then it is time to move on. For those who choose not to so strive, we will mutually respect our time together, but will have to make plans to part.

RESPONSIBILITY TO OUR EMPLOYEES
RESPONSIBILITY TO OUR CUSTOMERS
RESPONSIBILITY TO OUR BUSINESS PARTNERS
RESPONSIBILITY TO OUR SHAREHOLDERS
RESPONSIBILITY TO OUR COMPETITORS
RESPONSIBILITY TO OUR COMMUNITY
COMPLIANCE WITH THE LAW
CONFLICTS OF INTEREST
GIFTS
ENTERTAINMENT
TRAVEL
REPORTING CONCERNS

 

RESPONSIBILITY TO OUR EMPLOYEES : : : top

RESPECT
All LOGIC DEVICES personnel will treat all stakeholders with respect at all times. This is the foundation of all that follows. Employment decisions will be based solely on business reasons and qualifications, and will comply with local and national laws.

HARASSMENT
Abusive, harassing, or offensive conduct is not acceptable. LOGIC DEVICES personnel are required to immediately report any such conduct.

SAFETY AND HEALTH
LOGIC DEVICES personnel are responsible for maintaining a safe workplace by following safety rules and immediately reporting accidents, injuries, and unsafe equipment or practices. Use of abusive or illegal substances is inconsistent with a safe workplace.

 

RESPONSIBILITY TO OUR CUSTOMERS : : : top

PRODUCT QUALITY AND SAFETY
Compliance with quality processes and safety requirements is mandatory.

SALES AND MARKETING
LOGIC DEVICES seeks to build long term relations with our customers by delivering quality products at competitive prices in a timely manner. All LOGIC DEVICES personnel must treat customers with honesty and integrity. Our marketing claims must be accurate and truthful, without false claims or omissions of material facts.

CUSTOMER INFORMATION
All LOGIC DEVICES personnel are responsible for protecting customer information that is sensitive or confidential. Only those who have a need to know may have access to such information.

GOVERNMENT CUSTOMERS
All LOGIC DEVICES personnel will take special care to comply with all legal and contractual obligations in dealing with governments. Various National and local governments have specific, but varied, procurement laws and regulations. These laws are applicable to all LOGIC DEVICES personnel and to our suppliers and subcontractors. LOGIC DEVICES personnel are responsible for knowing and complying with applicable laws and regulations, and for ensuring that our subcontractors meet these requirements as well.

 

RESPONSIBILITY TO OUR BUSINESS PARTNERS : : : top

DOING BUSINESS WITH OTHERS
We will not do business with entities that are likely to diminish LOGIC DEVICES reputation or violate the law.

AGENTS AND CONSULTANTS
Fees paid to dealers, distributors, agents, finders, and consultants must be competitive in relation to the value of the product or service being provided.

SUBCONTRACTORS
Subcontractors must be selected on the basis of their ability to meet LOGIC DEVICES ethical standards as well as provide the quality products and services our customers expect.

JOINT VENTURES AND ALLIANCES
LOGIC DEVICES will ally only with companies that share a commitment to ethical business practices.

PURCHASING PRACTICES
Every purchasing decision must be made in LOGIC DEVICES’ best interests, based on price, delivery, and quality. Purchase orders must be documented to identify the products or services to be provided, the applicable cost, and the criteria for earning payment. Payment must be commensurate with the services provided.

 

RESPONSIBILITY TO OUR SHAREHOLDERS : : : top

PROTECTING LOGIC DEVICES ASSETS
All LOGIC DEVICES are responsible for protecting the Company’s assets from loss, damage, misuse, or theft. LOGIC DEVICE’S assets may only be used for legitimate business purposes.

PROPRIETARY INFORMATION
All LOGIC DEVICES personnel must safeguard information by marking such information accordingly, keeping it secure and by limiting access to those who need to know. This also includes information entrusted to us by suppliers and customers.

INSIDE INFORMATION AND SECURITIES TRADING
LOGIC DEVICES personnel are not allowed to trade in securities or other kinds of property based on information that comes from the performance of their jobs, if that information is not publicly known. It is also prohibited to tip others who might make an investment decision based on non-public information. This prohibition includes not only LOGIC DEVICES stock but also the stock of LOGIC DEVICES customers and suppliers.

ACCURACY OF COMPANY RECORDS
LOGIC DEVICES requires honest and accurate recording and reporting of information in order to make good business decisions. This includes financial records, personnel records, and quality and safety data. All such records must accurately reflect transactions and events that conform to accounting principles and LOGIC DEVICES internal control systems.

RECORDING AND RETAINING BUSINESS COMMUNICATIONS
All business records and communications must be clear and accurate. Business records and communications often become public through litigation, required government disclosures, and the media. All LOGIC DEVICES personnel are reminded that this applies to informal notes via email.

 

RESPONSIBILITY TO OUR COMPETITORS : : : top

COMPETITIVE INFORMATION
LOGIC DEVICES personnel may not use any illegal or unethical methods to gather competitive information. Possessing proprietary information or trade secrets without the owner’s consent is prohibited. Information obtained by mistake that may constitute a trade secret or other confidential information should be referred to the company management.

 

RESPONSIBILITY TO OUR COMMUNITY : : : top

PERSONAL COMMUNITY ACTIVITIES
LOGIC DEVICES personnel are encouraged to support community, charity, and political organizations and causes, as long as they make it clear that their views and activities do not represent the views LOGIC DEVICES. Outside activities must not interfere with job performance.

ENVIRONMENT
We will respect the environment by complying with all applicable environmental laws in every country in which we do business. LOGIC DEVICES is committed to the protection of the environment by minimizing the environmental impact or our operations. LOGIC DEVICES personnel must notify management if hazardous materials come in contact with the environment or are improperly handled or discarded. All personnel must also guard against making commitments to meet various environmental requests unless and until such requests have been properly evaluated as to LOGIC DEVICES ability to
comply with such requests.

COMMUNICATION WITH EXTERNAL AUDIENCES
To ensure consistent handling, information requests from all outside sources should be forwarded to an officer of LOGIC DEVICES. Many well-intentioned interviews have been misinterpreted by the media.

 

COMPLIANCE WITH THE LAW : : : top

POLITICAL ACTIVITIES
No LOGIC DEVICES personnel may make any political contribution for, or on behalf of, LOGIC DEVICES, or use LOGIC DEVICES name, equipment, or other resources for the support of political parties, initiatives, committees, or candidates. Lobbying activities or government contacts on behalf of LOGIC DEVICES other than sales activities are prohibited.

ANTI-CORRUPTION LAWS
LOGIC DEVICES will comply with the anti-corruption laws of all countries in which it does business, including the U.S. Foreign Corrupt Practices Act, which applies to global business. LOGIC DEVICES personnel will not make, or offer to make, directly or indirectly, any corrupt payment to any government official, including employees of state owned enterprises. This requirement also applies LOGIC DEVICES agents, such as third party sales representatives. Such third party agents must agree to abide by this standard as a condition of acting on behalf of LOGIC DEVICES.

CROSSING NATIONAL BORDERS
When importing or exporting products, services, or information, LOGIC DEVICES will comply with all applicable U.S. and other national laws, regulations, and restrictions. When traveling on business all LOGIC DEVICES personnel are responsible for knowing and obeying the laws of the country in which they are traveling.

 

CONFLICTS OF INTEREST : : : top

GENERAL GUIDANCE
All business decisions must be made in the best interests of LOGIC DEVICES stakeholders, and must not be motivated by personal considerations or relationships. Relationships with suppliers, contractors, customers, shareholders, competitors, or
regulators must not affect our judgment as to the best interest of LOGIC DEVICES. All LOGIC DEVICES personnel are required to disclose any situation that may be, or could appear to be, a conflict of interest.

OUTSIDE EMPLOYMENT
LOGIC DEVICES personnel may not work for, or receive payments for services from any competitor, customer, supplier. Any outside activity should be strictly separated from LOGIC DEVICES activity and must not harm job performance at LOGIC DEVICES. The skills learned and used at LOGIC DEVICES may not be used in a manner that could damage LOGIC DEVICES business.

BOARD MEMBERSHIPS
Board members must disclose any possible conflicts of interest so that LOGIC DEVICES may assess and prevent potential conflicts from arising and may not engage in any activities prohibited by any agreement (oral or otherwise) with LOGIC DEVICES or any Company policy.

FAMILY MEMBERS AND OTHER CLOSE PERSONAL RELATIONSHIPS
LOGIC DEVICES will not do business with family members or friends of LOGIC DEVICES personnel.

INVESTMENTS
LOGIC DEVICES personnel may not allow their investments to influence, or appear to influence their judgment on behalf of LOGIC DEVICES. Any LOGIC DEVICES personnel with an investment in a competitor, supplier, customer, distributor, or other
service provider, may have a business impact on this party. LOGIC DEVICES personnel are prohibited from directly or indirectly buying, or acquiring rights to any property or materials, when they are aware that LOGIC DEVICES may be interested in pursuing such an opportunity and the information is not public knowledge.

 

GIFTS : : : top

GIFTS TO LOGIC DEVICES PERSONNEL
LOGIC DEVICES personnel may not accept gifts or gratuities. In some rare situations, it may be impractical or offensive to refuse a gift. In such cases, the situation must be discussed with LOGIC DEVICES corporate management.

GIFTS GIVEN BY LOGIC DEVICES PERSONNEL
Gift-giving practices vary among cultures. Some business situations may require the giving of gifts. LOGIC DEVICES gifts must be legal, reasonable, and pre-approved by management. Under no condition are LOGIC DEVICES personnel permitted to pay a bribe. LOGIC DEVICES personnel will not offer any gift when it is prohibited by law, or prohibited by the recipient’s organization. Employees of many governments are generally prohibited from accepting gifts.

 

ENTERTAINMENT : : : top

ENTERTAINMENT OF LOGIC DEVICES PERSONNEL
LOGIC DEVICES personnel may not accept any gift, ticket to any social event, or business meal from any shareholder, customer, or supplier.

ENTERTAINMENT BY LOGIC DEVICES PERSONNELLOGIC DEVICES personnel may not provide any entertainment of government officials. LOGIC DEVICES may purchase occasional meals for LOGIC DEVICES shareholders, customers, and suppliers if the intent of the meal is to provide time to conduct discussions related to business matters that could not otherwise be completed during normal business hours. All other forms of entertainment are prohibited.

 

TRAVEL : : : top

ACCEPTANCE OF TRAVEL EXPENSES
LOGIC DEVICES personnel may not accept transportation and lodging provided by any third party.

PROVIDING TRAVEL
Unless prohibited by law, or the policy of the recipient’s organization, LOGIC DEVICES may pay the transport and lodging expenses incurred by customers, agents, and suppliers in conjunction with a visit to LOGIC DEVICES, if the purpose of the visit is to provide on-site training, inspection of products, or contract negotiations. All travel that is so sponsored by LOGIC DEVICES must be approved in advance by an officer of LOGIC DEVICES.

 

REPORTING CONCERNS : : : top


Taking action to prevent and correct problems is the responsibility of all LOGIC DEVICES personnel. If you observe conduct that you believe to be possibly unethical or illegal, you are required to report your concerns. Retaliation against any LOGIC DEVICES personnel who honestly reports a concern about illegal or unethical conduct will not be tolerated. Likewise, filing a report known to be false will not be tolerated. In order to protect anyone wishing to report an activity which they may believe is not ethical, you may contact Mr. David Selmer, attorney for LOGIC DEVICES anonymously at (312) 984-3155.

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