|
Code of Ethics for CEO and CFO
Hydromer, Inc.
Passed May 12, 2004
Hydromer has a Code of Business
Conduct applicable to all directors and employees of Hydromer. The
CEO and CFO, are bound by the provisions of this Code of Business Conduct. In addition, the
CEO and CFO are subject to the following additional specific policies:
1. The CEO and CFO are responsible for full, fair, accurate,
timely and understandable disclosure in the periodic reports required
to be filed by Hydromer with the SEC. Accordingly, it is the
responsibility of the CEO and CFO, promptly to bring to the attention
of the Audit Committee any material information of which he or she may
become aware that affects the disclosures made by Hydromer in its
public filings.
2. The CEO and CFO must promptly bring to the attention of the
Audit Committee any information he or she may have concerning (a)
significant deficiencies in the design or operation of internal
controls which could adversely affect Hydromer's ability to record,
process, summarize and report financial data or (b) any fraud, whether
or not material, that involves management or other employees who have a
significant role in Hydromer's financial reporting, disclosures or
internal controls.
3. The CEO and CFO must promptly bring to the attention of the
Audit Committee any information he or she may have concerning any
material violation of Hydromer's Code of
Business Conduct, including any actual or apparent conflicts of
interest between personal and professional relationships, involving any
management or other employees who have a significant role in Hydromer's
financial reporting, disclosures or internal controls.
4. The CEO and CFO must promptly bring to the attention of the
Audit Committee any information he or she may have concerning evidence
of a material violation of the securities or other laws, rules or
regulations applicable to Hydromer and the operation of its business,
by Hydromer, or of violation of the Code of
Business Conduct or of these additional procedures.
5. Any person, employee or otherwise may report a violation of
this Code to the Audit Committee. The Audit Committee shall determine,
appropriate actions to be taken in the event of violations of the Code of Business Conduct or of these
additional procedures by the CEO and CFO. Such actions will be
reasonably designed to deter wrongdoing and to promote accountability
for adherence to the Code of Business
Conduct and to these additional procedures, and may include written
notices to the individual involved that the Board has determined that
there has been a violation, censure by the Board, demotion or
re-assignment of the individual involved, suspension with or without
pay or benefits (as determined by the Board), and termination of the
individual's employment. In determining what action is appropriate in a
particular case, the Board of Directors or its designee will take into
account all relevant information, including the nature and severity of
the violation, whether the violation was a single occurrence or
repeated occurrences, whether the violation appears to have been
intentional or inadvertent, whether the individual in question had been
advised prior to the violation as to the proper course of action and
whether or not the individual in question had committed other
violations in the past.
THE BOARD OF DIRECTORS IS OBLIGATED TO TAKE ALL
REASONABLE STEPS TO PREVENT A REPORTING INDIVIDUAL FROM ENDURING ANY
RETALIATORY ACTION BY ANY EMPLOYEE OF THE COMPANY. THIS HOWEVER, IS NOT
MEANT TO PROTECT AN ACCUSSER FROM DISCIPLINARY ACTION, IF IT IS FOUND
THAT THE ALLEGATIONS HAD NO BASIS IN FACT.
The contents of this Code of Ethics shall be promptly posted
on the Company's Web Site.
|