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Antitrust and Competition Law Legal Compliance Guide Antitrust and Competition Law Legal Compliance Guide NOTE: This document has been modified from its original format. It has been optimized for on-screen viewing and desktop printing. English 2 Antitrust and Competition Law Legal Compliance Guide Table of Contents Message to Employees .................................................................................3 Foundation Policies ....................................................................................4 Antitrust Policy ......................................................................................4 Ethics Policy.........................................................................................4 Applicable Laws .......................................................................................5 Prohibited Conduct . 6 Potentially Sensitive Areas ..............................................................................7 Interactions with Customers ..........................................................................7 Interactions with Competitors.........................................................................8 Lobbying...........................................................................................11 Mergers, Acquisitions, and Divestitures ...............................................................11 Intellectual Property Rights ..........................................................................11 Care in Communicating .............................................................................11 Antitrust Sanctions....................................................................................12 Open Door Procedures ...............................................................................12 Antitrust Compliance Program Overview................................................................13 Management Leadership and Accountability...........................................................13 Assessment of Risk..................................................................................13 Prevention and Detection Procedures.................................................................13 Communication of Policies and Procedures............................................................14 Training of Personnel................................................................................15 Assessment of Effectiveness .........................................................................15 Conclusion ...........................................................................................16 3 Message to Employees Consistent with ExxonMobil’s International Operations Policy and the Antitrust Policy, Exxon Mobil Corporation (“Company”) maintains a steadfast commitment to comply with antitrust and competition laws of all countries which are applicable to its business. Antitrust and competition laws that affect our business vary in some respects, but generally focus on similar types of conduct. Competition benefits consumers by providing the highest quality products at the lowest possible prices, and society’s resources are allocated most efficiently when companies are subject to the rigors of a competitive market. Antitrust and competition laws seek to prevent the benefits of a competitive market from being undermined by anticompetitive practices. The Company’s Antitrust Policy places the responsibility of compliance with all applicable antitrust and competition laws on every director, officer, and employee. Violations of the Antitrust Policy are grounds for disciplinary action up to and including termination of employment. The Antitrust and Competition Law Compliance Guide was prepared by the Law Department to assist employees in understanding antitrust and competition law issues and identifying situations that may raise concern. While it is not possible in any guide to describe in detail all of the antitrust and competition laws that affect our business, the purpose of this Guide is to make you aware of the general requirements of antitrust and competition laws and the kinds of conduct that can raise antitrust issues. The Company maintains a comprehensive Antitrust Compliance Program, of which this Guide is an important part. Please read it carefully and attend related training in order to be prepared to recognize activities with potential antitrust sensitivities. Furthermore, every director, officer, and employee is expected to contact the Law Department for advice and assistance whenever there is any doubt our uncertainty about an existing situation or proposed course of action. D. W. Woods Chairman and CEO, Exxon Mobil Corporation EXXONMOBIL • ANTITRUST AND COMPETITION LAW LEGAL COMPLIANCE GUIDE 4 Foundation Policies Exxon Mobil Corporation’s commitment to ethics and compliance is documented in the Standards of Business Conduct (the “Standards”), comprised of its 17 foundation policies and the Corporation’s Open Door Procedures. The Standards articulate expectations and define the basis for the worldwide conduct of the Corporation and its majority-owned affiliates. The Antitrust Policy and Ethics Policy are foundation policies that bear directly on antitrust compliance. These policies are set out in full below. Antitrust Policy t is the policy of Exxon Mobil Corporation that directors, officers, and employees are expected to comply with the antitrust I and competition laws of the United States and with those of any other country or group of countries which are applicable to the Corporation’s business. No director, officer, or employee should assume that the Corporation’s interest ever requires otherwise. It is recognized that, on occasion, there may be legitimate doubt as to the proper interpretation of the law. In such a circumstance, it is required that the directors, officers, and employees refer the case through appropriate channels to the Law Department for advice. Ethics Policy The Corporation expects compliance with its standard The policy of Exxon Mobil Corporation is to comply with all of integrity throughout the organization and will governmental laws, rules, and regulations applicable to its business. not tolerate employees who achieve results at the cost The Corporation’s Ethics Policy does not stop there. Even where of violation of the law or who deal unscrupulously. the law is permissive, the Corporation chooses the course of highest integrity. Local customs, traditions, and mores differ from place to place, and this must be recognized. But honesty is not subject to criticism in any culture. Shades of dishonesty simply invite demoralizing and reprehensible judgments. A well-founded reputation for scrupulous dealing is itself a priceless corporate asset. The Corporation cares how results are obtained, not just that they are obtained. Directors, officers, and employees should deal fairly with each other and with the Corporation’s suppliers, customers, competitors, and other third parties. The Corporation expects compliance with its standard of integrity throughout the organization and will not tolerate employees who achieve results at the cost of violation of law or who deal unscrupulously. The Corporation’s directors and officers support, and expect the Corporation’s employees to support, any employee who passes up an opportunity or advantage that would sacrifice ethical standards. It is the Corporation’s policy that all transactions will be accurately reflected in its books and records. This, of course, means that falsification of books and records, and the creation or maintenance of any off-the-record bank accounts are strictly prohibited. Employees are expected to record all transactions accurately in the Corporation’s books and records, and to be honest and forthcoming with the Corporation’s internal and independent auditors. The Corporation expects candor from employees at all levels and adherence to its policies and internal controls. One harm which results when employees conceal information from higher management or the auditors is that other employees think they are being given a signal that the Corporation’s policies and internal controls can be ignored when they are inconvenient. That can result in corruption and demoralization of an organization. EXXONMOBIL • ANTITRUST AND COMPETITION LAW LEGAL COMPLIANCE GUIDE 5 Foundation Policies, continued The Corporation’s system of management will not work without honesty, including honest bookkeeping, honest budget proposals, and honest economic evaluation of projects. It is the Corporation’s policy to make full, fair, accurate, timely, and understandable disclosure in reports and documents that the Corporation files with the United States Securities and Exchange Commission, and in other public communications. All employees are responsible for reporting material information known to them to higher management so the information will be available to senior executives responsible for making disclosure decisions. Applicable Laws Over 100 countries have adopted antitrust or competition laws. These laws have typically been developed using either the United States or European Union model for such laws. Exxon Mobil Corporation and its affiliates must, of course, comply with the antitrust and competition laws of the countries in which they do business. However, even in a country that does not have its own competition law, there may be potential antitrust risks. Activities pursued entirely outside the United States may nevertheless be subject to the antitrust laws of the United States if they have a direct, substantial,
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