Common use of DEALING WITH PUBLIC OFFICIALS Clause in Contracts

DEALING WITH PUBLIC OFFICIALS. Domestic and foreign laws and regulations require Biovail to be in contact with public officials on a wide variety of matters. Employees, officers and directors who regularly make these contacts have special responsibilities for upholding Biovail’s good name. The following standards relate to these special responsibilities: a) All employees, officers and directors who contact public officials must be familiar with lobbying laws and public disclosure requirements, particularly those that apply to registrations and filings. b) No employee shall make any form of payment, direct or indirect, to any public official as an inducement to procuring or keeping business or having a law or regulation enacted, defeated, or violated. This is bribery, pure and simple. It will not be tolerated. It should be acknowledged that inherent in the current health-care regulatory environment, the definition of “form of payment” may include seemingly trivial gifts and/or favors (e.g. buying lunches, coffee, etc.). c) When not prohibited by law, employees, officers and directors are allowed to give to public officials gifts where the presentation and acceptance of gifts is an established custom and a normal business practice. All such gifts shall be of reasonable value and the presentation approved in advance by the CEO. Moreover, such gifts must be presented in a manner that clearly identifies Biovail and the occasion that warrants the presentation. d) Employees, officers and directors are also allowed to give public officials gifts in the form of product models and pictures provided the models and pictures are part of Biovail’s general marketing and public relations programs (except as noted in clause (b) above). e) On special ceremonial occasions, officers of Biovail may publicly give gifts of more than nominal value to public institutions and public bodies. Such gifts can commemorate special events or milestones in Biovail’s history. These may be transmitted through public officials but the gifts are given to the public institutions and public groups they represent, not to the officials personally. f) From time to time employees, officers and directors may entertain public officials, but only under the following conditions: i. It is legal and permitted by the entity represented by the official; ii. The entertainment is not solicited by the public official; iii. The entertainment occurs infrequently; iv. It arises out of the ordinary course of business; v. It does not involve lavish expenditures, considering the circumstances; vi. The settings and types of entertainment are reasonable, appropriate and fitting to our employees, officers or directors, their guests, and the business at hand.

Appears in 12 contracts

Samples: Executive Employment Agreement (Biovail Corp International), Executive Employment Agreement (Biovail Corp International), Chairman Agreement (Biovail Corp International)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!