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APPENDIX IV

CONFLICT-OF-INTEREST POLICY

FOR

TRUSTEES, INSTITUTIONAL OFFICERS, FACULTY, AND EMPLOYEES

1. Scope. The following statement of policy applies to each member of the board of trustees, to all institutional officers, to the faculty, and to all employees of Misericordia University. It is intended to serve as guidance for all persons employed by the university in positions of significant responsibility including those having administrative authority to hire employees or to purchase goods or services for the university.

2. Fiduciary Responsibilities. Members of the board, officers and employee of the university serve the public trust and have a clear obligation to fulfill their responsibilities in a manner consistent with this fact. All decisions of the board, officers, faculty and employees are to be made solely on the basis of desire to promote the best interests of the institution and the public good. The university's integrity must be protected and advanced at all times.

Men and women of substance inevitably are involved in the affairs of other institutions and organizations. An effective Board, administration, and faculty cannot consist of individuals entirely free from at least perceived conflicts of interest. Although most such potential conflicts are and will be deemed to be inconsequential, it is everyone's responsibility to ensure that the board is made aware of situations that involve personal, familial, or business relationships that could be a concern to the university. Thus, the board requires each trustee, institutional officer, faculty member (limited to those serving as departmental chairs/Deans or grant administrators), and administrative employee annually (1) to review this policy; (2) to disclose any possible personal, familial, or business relationships that reasonably could give rise to a conflict involving the university; and (3) to acknowledge by his or her signature that he or she is in accordance with the letter and spirit of this policy.

3. Disclosure. All trustees, institutional officers, faculty, and administrative employees are requested to list on the attached form only those substantive relationships that he or she maintains (or members of their family maintain) with organizations that do business with the university or otherwise could be construed to potentially affect their independent, unbiased judgment in light of his or her decision-making authority or responsibility. In the event you are uncertain as to the appropriateness of listing a particular relationship, the chair of the board of trustees and/or the president should be consulted. They, in turn, may elect to consult with legal counsel, the executive committee, or the board of trustees, in executive session. Such information, including information provided on this form, shall be held in confidence except when, after consultation with you, the institution's best interests would be served by disclosure.

The following definitions are provided to help you decide whether a relationship should be listed on this form:

Substantive Relationship: A relationship of a trustee, officer, faculty member, covered employee, or a member of his or her family which constitutes either a "Competing Relationship", "Business Relationship", or a relationship of "Substantial Benefit".

Competing Relationship: One in which a trustee, officer, faculty member, covered employee, or a member of his or her family as defined below is employed by a college, university, or educational institution that competes with Misericordia University for students or contributions.

Business Relationship: One in which a trustee, officer, faculty member, covered employee, or a member of his or her family as defined below serves as an officer, director, employee, partner, trustee, or controlling stockholder of an organization that does substantial business with the university.

Family Member: A spouse, parents, siblings, children, or any other relative if the latter resides in the same household as the trustee, officer, faculty member, or covered employee.

Substantial Benefit: When you or a member of your family (1) are the actual or beneficial owner of more than 5 percent of the voting stock or controlling interest of an organization that does substantial business with the university or (2) have other direct or indirect dealings with such an organization from which you or a member of your family benefits directly, indirectly, or potentially from cash or property receipts totaling $10,000 or more annually.

Download Disclosure form (PDF file).

REVISED & APPROVED 11/08 Board of Trustees Meeting

Revised 03-10

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