Remuneration above certain levels requires senior executive approval. These payments must be clearly and accurately reported as a business expense. You should be aware, however, that in some countries, such payments are illegal and must not be paid. If you have any doubts or questions, contact your manager, the Legal department, or the Business Ethics function. Any direct or indirect investment in one of Nortel Networks' competitors creates a potential conflict of interest.
Insider trading is both unethical and illegal.
It is also illegal to pass on undisclosed material information to anyone, other than in the necessary course of business. While conflict of interest guidelines are not intended to unduly interfere with an employee's family or personal life, there are situations where the actions of family members and close personal friends may constitute a conflict of interest for the employee. For example, any gifts or other benefits offered to family members by suppliers or potential suppliers are considered business gifts subject to the gifts and entertainment guidelines . If your spouse, relative, or close personal friend is an employee of or has a substantial interest in a business seeking to provide goods and services to Nortel Networks, you must ensure that you do not attempt to use your position in Nortel Networks to influence the bidding process or negotiation in any way. If you are directly involved in purchasing functions, you must declare this conflict of interest to your manager immediately.