Article I – Purpose
The purpose of this policy is to protect the interests of OPEN Silicon Valley by: (a) preventing the personal interest of the Board, Employees, and Independent Contractors from interfering with their duties to the organization and (b) avoiding any unethical financial, professional, or political gain on the part of such individuals. The intent of this policy is to supplement, not replace, any applicable federal, state, or local laws regarding conflicts of interest.
Article II – Persons Concerned
This statement applies to Board Members, Officers, and all Employees who can influence the governance and actions of OPEN Silicon Valley. This includes anyone who makes financial decisions, might be referred to as “management personnel,” or have proprietary information regarding OPEN Silicon Valley
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Article III – Procedures
- Duty to Disclose
Each Member, Director, Officer, Employee, and any other Interested Person is under an obligation to disclose the existence or potential existence of a Conflict of Interest as it arises. - Investigating Conflicts
When a potential Conflict of Interest is disclosed, the Governing Board will then provide the individual with an opportunity to disclose all material facts. The Board will collect all pertinent information and question the involved parties. If it turns out that a conflict does not exist, the inquiry will be documented but no further action will be taken. - Addressing a Conflict of Interest
If the Board determines that a conflict of interest exists, they will take the appropriate actions to address the conflict. This may include (but not be limited to): (a) prohibiting any Interested Parties from voting on any matter related to said Conflict of Interest or (b) terminating employment with OPEN Silicon Valley. Affected parties both within and outside of [organization name], including shareholders, directors, employees, and independent contractors, will be notified. If the Conflict of Interest in question involves a member of the Board, that individual will be excused from deliberations. - Disciplinary Action
All conflicts of interest will be reviewed on a case-by-case basis. The board has full discretion to deem what disciplinary action is appropriate and necessary for disclosed conflicts of interest.
If the governing officers reasonably believe a member or staff member failed to disclose an existing or possible Conflict of Interest, it shall inform the individual of the rationale for such belief and grant the individual an opportunity to explain the alleged failure to disclose the Conflict of Interest.
After hearing the individual’s response and investigating further as warranted by the circumstances, the governing officers may take appropriate disciplinary action, including removal from the position at the organization.
- Notice of Annual Statements
Every Member, Director, Officer, Employee, and any other Interested Person must sign a Conflict of Interest Disclosure Statement upon said individual’s term of office, employment, or other relationship with [organization name] and must do so annually. Failure to sign does not nullify the policy.
Article IV – Acknowledgment
By becoming a member of OPEN Silicon Valley, individuals are expected to understand what constitutes a Conflict of Interest and understand the procedure for addressing them with OPEN Silicon Valley, including their duty to disclose any known or potential conflicts of interest.