Business Ethics
Entertainment and Gifts
It is PGS’ desire to treat all customers and suppliers fairly and impartially. PGS’ competitive appeal must be based on the quality of our products and services, the prices attached to these services, and the competence and honesty of its employees. Giving or accepting gifts or entertainment can have the appearance of trying to influence the decision of or taking advantage of a relationship with a customer or supplier.
To minimize conflicts of interest and encourage sound business decisions, employees should not accept, either directly or indirectly, any gifts, entertainment, or other favors from any person or entity that has or who seeks a business relationship with PGS, where such acceptance may affect or appear to affect his/her integrity or independence. Gifts, entertainment and other favors can only be accepted to the extent they (a) are reasonable, customary and in conformity with accepted business practices, (b) could not be reasonably construed as payment or consideration for influencing or rewarding a particular decision or action, and (c) comply with applicable laws (“Customary Gifts or Entertainment”). Similarly, employees should not offer, directly or indirectly, gift, entertainment or favors to any person or company in a position to make or influence decisions regarding PGS business transactions, other than Customary Gifts or Entertainment. Cash and cash equivalents will never be considered an acceptable gift.
Full transparency and proactively raising issues with their immediate supervisor or the General Counsel when in doubt whether a particular item constitutes a Customary Gift or Entertainment should guide employees in handling such issues.
Political Contributions
Company funds cannot be used to make any direct or indirect payments in the name of PGS or which benefit PGS to any:
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officer of any other entity
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employee of any other entity
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agent of any other entity
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government official
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government employee
PGS does not support or use company funds to support any political party or any political candidate. However, PGS employees may participate individually in political activities with their own time and resources. PGS does not contribute shareholders’ funds to political organizations.
Commercial Bribes
PGS personnel will use only ethical business practices while conducting business activities. Bribes, kickbacks or other similar gifts or payments to an individual or company are prohibited. Likewise, an employee shall not accept any gift or payment in connection with that employee’s decisions or actions.
