Phi Kappa Tau

Phi Kappa Tau

Undergraduate National Council

Conflict of Interest Policy and Disclosure Statement

Policy Statement

Officers, members and advisors of Phi Kappa Tau, the National Council and each committee of Phi Kappa Tau have a duty to subordinate personal interests to the welfare of PHI KAPPA TAU and those they serve. Conflicting interests can be financial, personal relationships, status or power. Officers, members and advisors of the National Council and each Committee (collectively referred to as "Interested Party") have an affirmative obligation to disclose potential and actual conflicts of interest in accordance with this Policy and may not knowingly engage in, or be a party to, any activity, or have any relationship with outside business, or have personal interests or activities that may constitute or have the potential of creating a conflict of interest except in compliance with this Policy.

Definition and Examples

A conflict of interest is any connection of an Interested Party or member of his immediate family or close associate to any business or activity with Phi Kappa Tau that affects his judgment in making decision in the best interests of Phi Kappa Tau. This includes but is not limited to: (a) Direct or indirect business, management or financial interest or activity (whether remunerative or not) in any business or educational entity (which is owned or not by the Interested Party) that is a present or prospective competitor, customer, or supplier (including sellers, licensors, lessors or landlords of property, goods or services) of the Phi Kappa Tau Fraternity; (b) Personally gaining an advantage or benefit from a transaction or arrangement which is contrary or adverse to the best interests of the Phi Kappa Tau Fraternity; (c) Personal activity that would interfere with the proper performance of the Interested Party's duties; (d) Accepting gifts, fees, loans, or favors from suppliers, contractors, consultants, financial agencies or any others which obligate or induce the Interested Party to act contrary to the best interest of the Phi Kappa Tau Fraternity; or (e) Actions or connections which create an actual conflict of interest or the appearance of a conflict of interest.

Duty of Full Disclosure

When a potential or actual conflict of interest (collectively referred to as "Conflict of Interest") arises, the Interested Party shall promptly disclose the circumstances to the Ethics and Standards Committee (The Committee) along with a plan to address the Conflict of Interest if appropriate. The Chairman of The Committee shall disclose the Conflict of Interest to all of the members. In the event the Interested Party is the Committee Chair, the Conflict of Interest shall be disclosed to all of the members. Failure to report a Conflict of Interest will result in discipline up a charge of conduct unbecoming and possible removal as an officer, committee member, or advisor.

Procedure for Addressing the Conflict of Interest

The Interested Party shall not use his personal influence on the matter. He shall not be counted as part of the quorum for the meeting and shall leave the meeting during the discussion of, and the vote on the transaction, arrangement or circumstances involving the Conflict of Interest. After investigating alternatives to the proposed transaction, arrangement or circumstances to the extent deemed necessary by The Committee, reviewing the plan presented by the Interested Party and otherwise exercising due diligence, The Committee shall report to the National Council whether, in the considered opinion of The Committee, Phi Kappa Tau can obtain, with reasonable efforts, a more advantageous transaction or arrangement from a person or entity that would not give rise to a Conflict of Interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a Conflict of Interest and a quorum of disinterested members is otherwise in attendance, The National Council shall determine by the required vote of the disinterested members whether the transaction or arrangement is in the best interest of the Phi Kappa Tau Fraternity and whether it is fair and reasonable. In conformity with the above determination, The National Council shall make its decision as to whether to enter into the transaction or arrangement by the required vote. The minutes of the meeting will reflect that a disclosure was made, the abstention from voting and the resulting quorum.

Annual Disclosure Requirement

Each Interested Party is required annually to execute and sign a Conflict of Interest Disclosure Statement and submit the signed Statement to The Committee Chair for review which shall be maintained with the books and records of the Phi Kappa Tau Fraternity. This Statement requires the Interested Party to disclose all Conflicts of Interest. If there is doubt as to whether an interest or activity would be a Conflict of Interest, it should be disclosed. If no Conflict of Interest exists, the Interested Party should write the word "NONE" in the space provided.

Obligation of Confidentiality

Each Interested Party has the ongoing obligation of maintaining the confidentiality of proprietary, confidential and sensitive information of the Phi Kappa Tau Fraternity (collectively, "Confidential Information"). Each Interested Party agrees use Confidential Information only as needed to perform as an Officer, committee member or advisor. Each Interested Party agrees not to disclose Confidential Information except to those who have a need to know who are under a similar obligation of confidentiality and whose interests are not adverse to the Phi Kappa Tau Fraternity. Each Interested Party acknowledges and agrees that this ongoing obligation of confidentiality survives service to the Phi Kappa Tau Fraternity.

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In signing this Disclosure Statement, I have considered not only the literal expression of the policy, but also what I believe to be the spirit of the policy. I hereby certify that except as hereinafter stated I, no member of my immediate family or close associate, have a Conflict of Interest with the Phi Kappa Tau Fraternity; the exceptions are as follows: (If none, write "NONE" in the field below):

If any situation should arise in the future which may involve me, a member of my immediate family or close associate in a Conflict of Interest, I will promptly disclose the circumstances to the Ethics and Standards Committee Chair.

I hereby certify that I have carefully read and hereby acknowledge receipt of a copy of the Policy on Conflict of Interest.

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SignatureDate

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Print Name

Please sign (your typed name will serve as an electronic signature) and return, with your resume to: Ricky A. Bailey, Chair: Undergraduate Nominating Committee at . Resumes may also be mailed to the Ewing T. Boles Executive Office building: 5221 Morning Sun Road, Oxford, OH 45056. . . ATTN: Undergraduate Nominating Committee.