Facilitating the introduction of Entrepreneurial Enterprises and Angel Investors within a
Professionally Managed Network.
Maintaining the integrity of the organization is of paramount importance. Any reported violations by an Angel of the following will be reviewed and acted upon by the Membership Committee (Committee). The ultimate penalty for infractions of this code will be a revocation of the privileges associated with Membership. This penalty will only be enforced upon unanimous agreement of all members of the Committee.
As listed in the Membership Agreement, and supplemented by the expanded subsections below, the following rules of conduct will be enforced upon all members of the organization:
ASSOCIATION MEMBERSHIP CODE OF CONDUCT:
I will conduct myself in a professional manner at all times.
I will respect the privacy of other Angels and not provide their name to any third party without their permission.
I will keep association membership information confidential.
I understand and recognize that the Company meetings and communications are focused on investment pursuits and will not solicit other Angels for business.
I will disclose to the group any relationship I have or may have with a presenting company, including any personal gain I may receive from the presenting company.
COMPLIANCE WITH LAWS, RULES AND REGULATIONS
Obeying the law, both in letter and in spirit, is the foundation on which this Company's ethical standards are built. All employees and Angels must respect and obey the laws, rules, and regulations of the cities, states, and countries in which we operate. Although employees and Angels are not expected to know the details of each of these laws, rules and regulations, it is important to know enough to determine when to seek advice from the Committee or other appropriate personnel.
Confidentiality is of utmost importance for the Company and Angel Network to operate. Therefore, the Company and Angels must maintain the confidentiality of personal and proprietary information entrusted to them by the Company, Angels or entrepreneurs (Applicants), except when disclosure is authorized in writing by the owner of the said personal or proprietary information. Proprietary information includes all non-public information. It includes information that Angels and Applicants have entrusted to us. The obligation to preserve proprietary information continues even after membership ends.
REPORTING ANY ILLEGAL OR UNETHICAL BEHAVIOR
The Company and Angels are encouraged to talk to the Committee about observed behavior that they believe may be illegal or a violation of this Code of Conduct or when in doubt about the best course of action in a particular situation. It is the policy of the Committee not to allow retaliation for reports made in good faith by anyone of misconduct by others. The Company and Angels are expected to cooperate in internal investigations of misconduct.
DISCRIMINATION AND HARASSMENT
The diversity of the Company's employees and Angels is a tremendous asset. We are firmly committed to providing equal opportunity in all aspects of employment and will not tolerate any illegal discrimination or harassment based on race, color, religion, sex, national origin or any other protected class.
The Company is structured to encourage Entrepreneurial opportunities and prohibits political contributions or involvement in the name of the Company. This includes: (a) any contributions of Company funds or other assets for political purposes; (b) encouraging individual employees or Angels to make any such contribution; or (c) reimbursing an employee or an Angel for any contribution.
Individual employees and Angels are free to make personal political contributions as they see fit.
COMPETITION AND FAIR DEALING
We seek to perform fairly and honestly. We seek advantages through superior performance never through unethical or illegal business practices. Each employee and Angel should endeavor to respect the rights of and deal fairly with the Applicants. No employee or Angel should take unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any other illegal trade practice.
To maintain the Company's valuable reputation, compliance with our quality and due diligence processes is essential. All applications, business plans, due diligence records and other documents must be handled in accordance with all applicable requirements.
The purpose of business entertainment and gifts in a commercial setting is to create goodwill and sound working relationships, not to gain unfair advantage with Applicants or Angels. No gift or entertainment should ever be offered, given, provided or accepted by any Company employee or Angel unless it: (1) is not a cash gift, (2) is consistent with customary business practices, (3) is reasonable in value, (4) cannot be construed as a bribe or payoff and (5) does not violate any laws, regulations or applicable policies of the other party's organization. Please discuss with the Committee any gifts or proposed gifts that you are not certain are appropriate.
Employees and Angels are prohibited from taking opportunities that are discovered through the use of corporate property, information or position for himself or herself without the consent of the Committee. No employee or Angel may use corporate property, information or position for personal gain and no employee or Angel may compete with the Company directly or indirectly. Employees and Angels owe a duty to the Company to advance the Company's interests when the opportunity to do so arises.
CONFLICTS OF INTEREST
A conflict of interest exists when a person's private interest interferes in any way, or even appears to interfere, with the interests of the Company, an Angel or an Applicant. A conflict situation can arise when an employee or Angel takes actions or has interests that may make it difficult to perform his or her Company or Angel responsibilities objectively and effectively. Conflicts of interest may also arise when an employee or Angel (or a member of his or her family) receives improper personal benefits as a result of his or her position in the Company or the Angel Network.
Conflicts of interest are prohibited as a matter of Company policy, except as approved by the Committee. Conflicts of interest may not always be clear-cut, so if you have a question, you should consult with the Committee. Any employee or Angel who becomes aware of a conflict or potential conflict should bring it to the attention of the Committee.
Office: (407) 674-1925