Investors

Supplier Code of Conduct

INTRODUCTION

Standex is committed to high standards of integrity, ethics, and sustainability. We view our Suppliers as important business partners, and we expect all our Suppliers to adhere to similar standards and conduct their business in accordance with these principles.

This Code of Conduct applies to all businesses that provide products or services for Standex and its subsidiaries, divisions, or affiliates.

As a Supplier, you must comply with all applicable laws and regulations, the requirements set out in this Code of Conduct, and your contractual obligations to us.

The provisions of this Code of Conduct are in addition to, and not in lieu of, the provisions of any legal agreement or contract between the Supplier and Standex or any of its affiliates. Suppliers are expected to hold their supply chain, including subcontractors and third party labor agencies, to the same standards contained in this Code of Conduct.

 

1.      HUMAN RIGHTS & FAIR LABOR

Suppliers are expected to conduct their business in a manner that respects human rights as set out in the United Nations Universal Declaration of Human Rights. Specifically, Suppliers must uphold the following labor practices:

Forced Labor

Suppliers must not use forced labor, including but not limited to any form of involuntary prison labor, forced, bonded, indentured, or slave labor. Suppliers must not participate in human trafficking or slavery. Suppliers must allow employees the choice to leave their employment with reasonable notice. Suppliers must not purchase materials or services from companies that use forced labor or participate in human trafficking or slavery. All Suppliers must be able to certify that materials in their products comply with the slavery and human trafficking laws of the country or countries in which they do business.

Child Labor

Suppliers may not employ workers under the age of 14, regardless of local regulations. No employee may perform work that is likely to jeopardize their health, safety, or education.

Hiring and Employment Practices

Suppliers must comply with all local laws and regulations regarding a worker's legal right to work, including verifying work status through appropriate documentation. Suppliers are expected to support and promote diversity in the workplace and provide equal opportunity for all qualified applicants. Suppliers must prohibit employment discrimination based on protected categories, including gender, age, ethnicity, nationality, religion, disability, or marital status.

Harassment

Suppliers must respect the personal dignity, privacy, and rights of each individual. Suppliers must strive to create a workplace that prohibits harassing or hostile behavior. Additionally, Suppliers must provide an environment that allows employees to raise concerns without fear of retaliation. Where it is provided by law, Suppliers should have a system that allows employees to anonymously report their concerns.

Compensation and Working Hours

Supplier must compensate employees fairly and follow applicable local wage and hour labor laws and regulations. Where applicable, Suppliers must adhere to agreed-upon collective bargaining agreements.

Suppliers shall ensure that working hours, including overtime, do not exceed applicable legal requirements. Suppliers should ensure that employees are allowed leave time and should conduct operations in ways that limit overtime to a level that ensures a humane and productive work environment.

 

2.      HEALTH, SAFETY AND ENVIRONMENTAL

Suppliers are expected to provide a safe and healthful working environment and to operate in an environmentally responsible and efficient manner. This includes the following aspects:

Health & Safety

Suppliers must provide a safe and healthful workplace for all employees. Suppliers should ensure that all workers are sufficiently aware of health and safety risks and are appropriately trained. Suppliers should take proactive measures that support accident prevention and minimize health risk exposure.

Environment & Material Compliance

Suppliers are expected to conduct their business in an environmentally responsible way that minimizes the impact on natural resources and protects the environment, customers, and employees. Suppliers must ensure that their operations comply with all applicable environmental laws.

Restricted Materials/Substances List

Suppliers must maintain sufficient knowledge of input materials and components to ensure they were obtained from permissible sources, in compliance with laws and regulations. If mandated by applicable law, Suppliers should implement a policy regarding conflict minerals and exercise due diligence with the sourcing of these minerals. Suppliers may be required to show evidence of compliance with these requirements.

 

3.     BUSINESS ETHICS

Suppliers are expected to conduct their businesses in an ethical manner and to act with integrity. Ethical requirements include the following aspects:

Compliance with Laws

Suppliers must adhere to all applicable laws and regulations in the countries and jurisdictions in which they operate. Specifically, Suppliers must comply with all anti-trust and other anti-competition laws and international trade regulations and export control regulations. Suppliers must also maintain accurate financial books and business records in accordance with all applicable legal and regulatory requirements and accepted accounting practices.

Gifts & Payments

Suppliers must refrain from any and all forms of corruption, extortion, embezzlement, bribery and kickbacks. Suppliers must ensure that gifts or other business courtesies given to customers (including Standex employees), government officials, and any other party are in compliance with applicable anti-bribery laws.

Confidential Information

Proper management of confidential information is critical to the success of both Standex and its suppliers. Suppliers must protect all Standex information, electronic data, and intellectual property with appropriate safeguards. Any transfer of confidential information must be executed in a way that secures and protects the intellectual property rights of Standex and its suppliers. Suppliers may receive Standex confidential information only as authorized by a confidentiality or non­disclosure agreement and must comply with their obligations to not disclose the confidential information, to not use the information except as permitted by the agreement, and to protect the information from misuse or unauthorized disclosure. Suppliers can expect that Standex will similarly safeguard any confidential information provided to it by the Supplier. Suppliers may not use the Standex trademark, images, or other materials to which Standex owns the rights to, unless explicitly authorized.

 

4.     MANAGEMENT SYSTEMS

Suppliers are expected to implement management systems to facilitate compliance with all applicable laws and to promote continuous improvement with respect to the expectations set forth in this Code of Conduct. This includes the following aspects:

Security

Suppliers must conduct their business in a secure manner, including implementing reasonable measures for minimizing Standex's exposure to security threats such as crime and information technology breach. When visiting or working at Standex locations, suppliers must abide by Standex's security procedures and report any security concerns to the appropriate Standex personnel.

Supply Chain Management

Suppliers must procure goods and services in a responsible manner. Suppliers are expected to select their own suppliers who will agree to adhere to standards comparable to those set forth in this Code of Conduct.

Training and Competency

Suppliers are expected to communicate and enforce the principles of this Code of Conduct to their supervisors, employees, and suppliers. This includes establishing appropriate training measures to allow managers and employees to gain an appropriate level of knowledge and understanding of this Code of Conduct, the applicable laws and regulations, and generally recognized standards.

Supply Chain Transparency

In order to ensure and demonstrate compliance with this Code of Conduct, transparency is paramount. Suppliers shall keep records of all relevant documentation, and provide to Standex supporting documentation upon reasonable request. Standex may conduct onsite audits and inspections of operations and facilities, review and approve corrective actions plans, and verify implementation of corrective action.

Continuous Improvement

Suppliers are expected to continuously improve their performance by implementing appropriate steps for improvement, and ways to measure performance.

Access to Remedy

In the context of our business relationship, if you or your employees believe that the terms of this Supplier Code of Conduct are not adhered to, or that Standex is not acting in accordance with its own Code of Conduct, then we encourage you to raise your concerns via the Standex stakeholder reporting channels. Visit www.standex.com and open the Whistleblower Protection link under the Corporate Governance tab to report your concerns and to learn more about these reporting channels.

Thank you for your cooperation and consideration.

 

Rev. June 2017