**EXHIBIT 11.1**

 

 

**EDAP TMS**

**CODE OF ETHICS**

 

 

As an employee of EDAP TMS S.A. and/or its Subsidiaries (the “Company”), I will adhere to the following principles and responsibilities, as well as the Company’s other legal and compliance policies and procedures:

|   | **•** | Act with honesty and integrity, avoiding actual or apparent conflicts of interest involving personal and professional relationships; |
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|   | **•** | Provide other officials and constituents of the Company with information that is full, fair, accurate, complete, objective, timely and understandable; |
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|   | **•** | Comply, to the best of my knowledge, with rules and regulations of governmental entities as well as other private or public regulatory agencies to which the Company is subject; |
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|   | **•** | Act at all times in good faith, responsibly, with due care, competence and diligence, and without any misrepresentation of material facts; |
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|   | **•** | Act objectively, without allowing my independent judgment to be subordinated; |
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|   | **•** | Respect the confidentiality of Company information, except when authorized or otherwise required to make any disclosure, and avoid the use of any Company information for personal advantage; |
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|   | **•** | Share my knowledge and skills with others to improve the Company’s communication to its constituents; |
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|   | **•** | Promote ethical behavior among employees under my supervision at the Company; and |
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|   | **•** | Achieve responsible use of and control over all assets and resources of the Company entrusted to me. |
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|   | **•** | Report violations of the Code to the Chief Executive Officer promptly if there are reasonable and objective reasons to believe this Code has been violated. |
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