It is important for each employee to be fully aware of the basics of these laws. Violations can result in severe penalties, including significant fines for the Company and sanctions against individual employees. While it is impossible to describe the sometimes-conflicting competition laws throughout the world, it is possible to broadly define the main categories of conduct that are in varying degrees prohibited by these laws. The following therefore sets forth-basic competition rules that should be followed without exception, unless prior approval is obtained from senior management. A key ingredient to maintain full competition and choice in the market place is to avoid pricing agreements with competitors except for those reached through bona fide purchase and sale of products between our Company and a competitor serving as a supplier or a customer.
Price fixing is among the most serious offences under many antitrust laws.
In general, never discuss prices with a competitor. Any effort to agree to set prices with anyone other than a customer for the purchase of goods or a supplier for sale of goods is generally unlawful throughout the world. Such agreements are therefore strictly prohibited. Just as it is important to avoid pricing agreements other than bona fide buy and sell transactions, it is equally important not to agree with our competitors to divide markets, customers or territories. Thus, you may not agree with a competitor that you will sell only in a defined territory.