1. Compliance with legal provisions

Compliance with laws and other legal provisions is the basis of all Bazoco activities. This Code of Conduct lays down the fundamental guidelines on responsible behaviour for the Bazoco employees and institutions. However, it is beyond the scope of this document to outline all the legal provisions by which the management board, managers and employees of the Bazoco have to abide. The members of the management board, managers and employees of the Bazoco are required to inform themselves on the legal provisions for their areas of responsibility and, if in doubt, to seek legal advice from the Bazoco relevant departments.

2. Fair competition

It is the policy of Bazoco to promote fair competition. Bazoco abides by all applicable domestic and foreign antitrust legislation as well as the law against unfair competition. It is not permitted to fix prices or terms of trade with competitors or to reach agreements with competitors to divide up markets. Agreements contravening anti-trust laws may not be replaced with modes of behaviour that are agreed with competitors or by agreements within trade associations. Bazoco rejects practices that constitute unfair competition. If Bazoco subsidiaries have a dominant market share, this may not be abused at the expense of customers or competitors. All members of the management board, managers and employees must be aware of the fact that infringing competition laws does not, in any way, serve the interests of the Bazoco and must be totally avoided.

3. Corruption

All staff must be committed to opposing corruption in their areas of influence. Corruption is the offering, granting or acceptance of a gift, loan, fee, reward or other advantage to or from another person as an incentive to do something dishonest, illegal or that would involve a breach of trust.

4. Conflict of interest

All members of the board of management, managers and employees of the Bazoco have the duty to avoid a conflict of interest between private interests (directly or indirectly or through associated persons or companies) and those of the Bazoco.

5. International trade

The valid legal provisions for international commercial activity also apply to the Bazoco products and services. The Bazoco´s subsidiaries must conform to all valid export or import restrictions and must comply with permit regulations and conditions imposed by the national or international authorities.

6. Fair working conditions

Bazoco commercial success depends to a great extent on its employees. Therefore the Company recognises the fundamentals of social responsibility. Thats why it is in the interests of the Company to ensure fair working conditions worldwide. Bazoco will adhere to all local working and social welfare legislation as a matter of course. This commitment to fair working conditions means that no form of discrimination against employees will be tolerated, whether on the grounds of gender, sexual orientation, country of origin, skin colour or other personal characteristics. Bazoco considers it a duty to be an employer that treats its employees in a respectful and fair way. Bazoco also expects that its employees treat each other with respect. Discrimination or insults will not be tolerated.

7. Child labour

The Bazoco rejects child labour, also with regard to its business partners. The Bazoco will respect the minimum, legal working age of the relevant jurisdiction when employing staff.

8. Health and safety, fire and environmental protection

It is the duty of all employees to avoid risks for people and the environment, to minimise the effects on the environment and to use resources sparingly. Processes, working facilities and equipment must comply with the legal and internal guidelines on health and safety, and the environment.

9. Duty of confidentiality

The knowledge and information acquired working for the Bazoco are a basic element of its commercial success. The Bazoco invests considerable human and financial resources in developing innovative products and services. Bazoco ensures its success in the market place by protecting these innovations.

It is essential that precautions are taken to protect these innovations. All members of the board, managers and employees must ensure that knowledge and information, that constitute company or trade secrets, remain within the Bazoco. They must prevent the publication of sensitive data in meetings with third parties, in trade magazines and on the Internet. Furthermore, all employees in possession of this knowledge and information must establish whether, and to what extent, copyright protection is required.

Employees are not authorised to inform the Bazoco business partners of its company or trade secrets.

10. Data protection

Respect for our employees also means protecting their personal data. Bazoco will implement all applicable data protection provisions and requires this of its employees.

11. Internal organisation to uphold this Code of Conduct

Each business unit is responsible for implementing the provisions contained in this Code of Conduct as well as other company-internal rules for its business area.