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Employee Retention of Anadarko Petroleum Corporation

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Pratik Kukreja
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pratikkk
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Employee Retention of Anadarko Petroleum Corporation - March 31st, 2011

Anadarko Petroleum Corporation (NYSE: APC) is one of the world’s largest independent oil and gas exploration and production companies, with approximately 2.3 billion barrels of oil equivalent (BOE) of proved reserves and production of 206 million BOE as of December 31, 2008. Anadarko employs a worldwide workforce of about 4,000.[3] The company is headquartered in The Woodlands, SPD Montgomery County, Texas.

Anadarko,[5][6] historically a subsidiary of Panhandle Eastern Corporation (which existed from 1928 to 1993; Panhandle Eastern has since been acquired by Southern Union Company), was formed in 1959 after the discovery of large amounts of natural gas in the Anadarko Basin (the basin comprises the Texas and Oklahoma panhandles, and southwest Kansas), thus the company's name. Anadarko spun off from Panhandle Eastern as an independent corporation in 1986 and now has activities in more than a dozen countries. The United States, deepwater Gulf of Mexico and Algeria represent the majority of the company's proved reserves and production; U.S. onshore accounts for about 60%.)

APC 469 (02/08)
ANADARKO PETROLEUM CORPORATION
CODE OF BUSINESS CONDUCT AND ETHICS
Our Code applies to every director, officer (including our Chief Executive
Officer, Chief Financial Officer and Chief Accounting Officer), and employee of
Anadarko Petroleum Corporation. The term employee includes any individual that
is paid on the Anadarko payroll.
To further the Company’s fundamental principles of honesty, loyalty, fairness and
forthrightness, we have established the Anadarko Code of Business Conduct and Ethics.
Our Code strives to deter wrongdoing and promote the following six objectives:
1. Honest and ethical conduct;
2. Avoidance of conflicts of interest;
3. Full, fair, accurate, timely and transparent disclosure;
4. Compliance with the applicable government and self-regulatory organization
laws, rules and regulations;
5. Prompt internal reporting of Code violations; and
6. Accountability for compliance with the Code.
Below, we discuss situations that require application of our fundamental
principles and promotion of our objectives. If there is a conflict between this Code and a
specific procedure you should consult the Legal department for guidance.
Accountability for Compliance with the Code
Each of the Company’s directors, officers and employees is expected to:
Understand. Anadarko expects you to understand the requirements of your position
including Company expectations and governmental rules and regulations that apply to
your position.
Comply. Anadarko expects you to comply with this Code and all applicable laws, rules
and regulations.
Report. Anadarko expects you to report any violation of this Code of which you become
aware.
Be Accountable. Anadarko holds you accountable for complying with the Code.


Accounting Policies
Anadarko and each of our subsidiaries will make and keep books, records and
accounts, which in reasonable detail accurately and fairly present the transactions and
disposition of the assets of our Company.
All directors, officers, employees and other persons are prohibited from directly
or indirectly falsifying or causing to be false or misleading any financial or accounting
book, record or account. You and others are expressly prohibited from directly or
indirectly manipulating an audit, and from destroying or tampering with any record,
document or tangible object with the intent to obstruct a pending or contemplated audit,
review or federal investigation. The commission of, or participation in, one of these
prohibited activities or other illegal conduct will subject the perpetrator to federal
penalties, as well as punishment of up to and including termination of employment. For
more information on our accounting procedures and processes see the Anadarko Intranet.
No director, officer or employee of the Company may directly or indirectly:
• Make or cause to be made a materially false or misleading statement, or
• Omit to state, or cause another person to omit to state, any material fact
necessary to make statements made not misleading
in connection with the audit of financial statements by independent accountants, the
preparation of any required reports whether by independent or internal accountants, or
any other work which involves or relates to the filing of a document with the Securities
and Exchange Commission (“SEC”).
Amendments and Modifications of this Code
There shall be no amendment or modification to this Code except by a vote of the
Board of Directors or a designated board committee that will ascertain whether an
amendment or modification is appropriate.
In case of any amendment or modification of this Code that applies to an officer
or director of the Company, the amendment or modification shall be posted on the
Company’s website within two days of the board vote or shall be otherwise disclosed as
required by applicable law or New York Stock Exchange rules. Notices posted on the
website shall remain there for a period of 12 months and shall be retained in the
Company’s files as required by law.
APC 469 (02/08)
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Anonymous Reporting
If you wish to report a suspected violation of this Code anonymously, you may
call the Anadarko Anonymous Reporting Hotline at 1-877-781-2434. Anadarko will not
disclose the identity of any employee who reports a violation of this Code without his or
her permission, unless disclosure is unavoidable during an investigation.
Anti-boycott and U.S. Sanctions Laws
We must comply with anti-boycott laws, which prohibit Anadarko from
participating in, and require us to report to the authorities any request to participate in, a
boycott of a country or businesses within a country. If you receive such a request, report
it to the Vice President of your division. We will also not engage in business with any
government, entity, organization or individual where doing so is prohibited by applicable
laws. For more information on these laws contact the Legal department.
Antitrust and Fair Competition Laws
The purpose of antitrust laws in the United States and most other countries is to
provide a level playing field to economic competitors and to promote fair competition.
No director, officer or employee, under any circumstances or in any context, may enter
into any understanding or agreement, whether express or implied, formal or informal,
written or oral, with an actual or potential competitor, which would illegally limit or
restrict in any way either party’s actions, including the offers of either party to any third
party. This prohibition includes any action relating to prices, costs, profits, products,
services, terms or conditions of sale, market share or customer or supplier classification
or selection.
It is our policy to comply with all U.S. antitrust laws. This policy is not to be
compromised or qualified by anyone acting for or on behalf of our Company. You must
understand and comply with the antitrust laws as they may bear upon your activities and
decisions. Anti-competitive behavior in violation of antitrust laws can result in criminal
penalties, both for the individual involved and for the Company. Accordingly, any
question regarding compliance with antitrust laws or your responsibilities under this
policy should be directed to the Legal department. Any director, officer or employee
found to have knowingly participated in violating the antitrust laws will be subject to
disciplinary action, up to and including termination of employment.
Below are some scenarios that are prohibited and scenarios that could be
prohibited for antitrust reasons. These scenarios are not an exhaustive list of all
prohibited and possibly prohibited antitrust conduct. When in doubt about any situation,
whether it is discussed below or not, you should consult with the Legal department.
APC 469 (02/08)
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The following scenarios are prohibited for antitrust or anti-competition reasons:
• Proposals or execution of any agreements or understanding—express or
implied, formal or informal, written or oral—with any competitor
regarding any aspect of competition between Anadarko and the competitor
for sales to third parties.
• Proposals or execution of any agreements or understanding with
customers which restrict the price or other terms at which the customer
may resell or lease any product to a third party.
• Proposals or execution of any agreements or understanding with suppliers
which restrict the price or other terms at which Anadarko may resell or
lease any product or service to a third party.
The following business arrangements could raise anti-competition or antitrust law
issues. Before entering into them, you must consult with the Legal department:
• Exclusive arrangements for the purchase or sale of products or services.
• Bundling of goods and services.
• Technology licensing agreements that restrict the freedom of the licensee
or licensor.
• Agreements to add an Anadarko employee to another entity’s Board of
Directors.
Bribery
You are strictly forbidden from offering, promising, or giving money, gifts, loans,
rewards, favors or anything of value to any governmental official, employee, agent or
other intermediary (either inside or outside the United States) which is prohibited by law.
Those paying a bribe may subject the Company and themselves to civil and criminal
penalties. When dealing with government customers or officials, no improper payments
will be tolerated. If you receive any offer of money or gifts that is intended to influence a
business decision, then it should be reported to your supervisor or the General Counsel
immediately.
The Company prohibits improper payments in all of its activities, whether these
activities are with governments or in the private sector.
Compliance with Laws, Rules and Regulations
Anadarko’s goal and intention is to comply with the laws, rules and regulations by
which we are governed. In fact, we strive to comply not only with requirements of the
law but also with recognized compliance practices. All illegal activities or illegal
conduct are prohibited whether or not they are specifically set forth in this Code.
APC 469 (02/08)
6
Where law does not govern a situation or where the law is unclear or conflicting,
you should discuss the situation with your supervisor and management should seek
advice from the Legal department. Business should always be conducted in a fair and
forthright manner. Directors, officers and employees are expected to act according to
high ethical standards.
Computer and Information Systems
For business purposes, officers and employees are provided telephones and
computer workstations and software, including network access to computing systems
such as the Internet and e-mail, to improve personal productivity and to efficiently
manage proprietary information in a secure and reliable manner. You must obtain the
permission from the Information Technology Services department to install any software
on any Company computer or connect any personal laptop to the Company network. As
with other equipment and assets of the Company, we are each responsible for the
appropriate use of these assets. Except for limited personal use of the Company’s
telephones and computer/e-mail, such equipment may be used only for business
purposes. Officers and employees should not expect a right to privacy of their e-mail.
All e-mails on Company equipment are subject to monitoring by the Company. Please
access the Anadarko Intranet for guidelines for use of e-mail and Internet services and
other related procedures.
Confidential Information Belonging to Others
You must respect the confidentiality of information, including, but not limited to,
trade secrets and other information given in confidence by others, including but not
limited to partners, suppliers, contractors, competitors or customers, just as we protect
our own confidential information. However, certain restrictions about the information of
others may place an unfair burden on Anadarko’s future business. For that reason,
directors, officers and employees should coordinate with the Legal department to ensure
appropriate agreements are in place prior to receiving any confidential third-party
information. These agreements must reflect a balance between the value of the
information received and the logistical and financial costs involved in both maintaining
confidentiality of the information and also limiting Anadarko’s business opportunities. In
addition, any confidential information that you may possess from an outside source, such
as a previous employer, must not, so long as such information remains confidential, be
disclosed to or used by Anadarko. Unsolicited confidential information submitted to
Anadarko should be refused, returned to the sender where possible and deleted, if
received via the Internet.
APC 469 (02/08)
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Confidential and Proprietary Information
It is Anadarko’s policy to ensure that all operations, activities and business affairs
of the Company and our business associates are kept confidential to the greatest extent
possible. Confidential information includes all non-public information that might be of
use to competitors, or that might be harmful to the Company or its customers if disclosed.
Confidential and proprietary information about Anadarko or its business associates
belongs to the Company, must be treated with strictest confidence and is not to be
disclosed or discussed with others.
Unless otherwise agreed to in writing, confidential and proprietary information
includes any and all methods, inventions, improvements or discoveries, whether or not
patentable or copyrightable, and any other information of a similar nature disclosed to the
directors, officers or employees of the Company or otherwise made known to us as a
consequence of or through employment or association with the Company (including
information originated by the director, officer or employee). This can include, but is not
limited to, information regarding the Company’s business, products, processes, and
services. It also can include information relating to research, development, inventions,
trade secrets, intellectual property of any type or description, data, business plans,
marketing strategies, engineering, contract negotiations, contents of the Company
Intranet; and, business methods or practices.
The following are examples of information that is not considered confidential:
• Information that is in the public domain to the extent such information is
readily available;
• Information that becomes generally known to the public other than by
disclosure by the Company or a director, officer or employee; or
• Information you receive from a party, which is under no legal obligation of
confidentiality with the Company with respect to such information.
We have exclusive property rights to all confidential and proprietary information
regarding Anadarko or our business associates. The unauthorized disclosure of this
information could destroy its value to the Company and give others an unfair advantage.
You are responsible for safeguarding Company information and complying with
established security controls and procedures. All documents, records, notebooks, notes,
memoranda and similar repositories of information containing information of a secret,
proprietary, confidential or generally undisclosed nature relating to the Company or our
operations and activities made or compiled by the director, officer or employee or made
available to you prior to or during the term of your association with the Company,
including any copies thereof, unless otherwise agreed to in writing, belong to the
Company and shall be held by you in trust solely for the benefit of the Company, and
shall be delivered to the Company by you on the termination of your association with us
or at any other time we request.
APC 469 (02/08)
8
Conflicts of Interest
Conflicts of interest can arise in virtually every area of our operations. A
“conflict of interest” exists whenever an individual’s private interests interfere or conflict
in any way (or even appear to interfere or conflict) with the interests of the Company.
We must strive to avoid conflicts of interest. We must each make decisions solely in the
best interest of the Company. Any business, financial or other relationship with
suppliers, customers or competitors that might impair or appear to impair the exercise of
our judgment solely for the benefit of the Company is prohibited.
Here are some examples of conflicts of interest:
Family Members. Actions of family members may create a conflict of interest.
For example, gifts to family members by a supplier of the Company are considered gifts
to you and must be reported. Doing business for the Company with organizations where
your family members are employed or which are partially or fully owned by your family
members or close friends may create a conflict or the appearance of a conflict of interest.
For purposes of the Code “family members” includes any child, stepchild, grandchild,
parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law,
daughter-in-law, brother-in-law or sister-in-law, and adoptive relationships.
Gifts, Entertainment, Loans, or Other Favors. Directors, officers and employees
shall not seek or accept personal gain, directly or indirectly, from anyone soliciting
business from, or doing business with the Company, or from any person or entity in
competition with us. Examples of such personal gains are gifts, non-business-related
trips, gratuities, favors, loans, and guarantees of loans, excessive entertainment or
rewards. However, you may accept gifts of a nominal value. Other than common
business courtesies, directors, officers, employees and independent contractors must not
offer or provide anything to any person or organization for the purpose of influencing the
person or organization in their business relationship with us.
Directors, officers and employees are expected to deal with advisors or suppliers
who best serve the needs of the Company as to price, quality and service in making
decisions concerning the use or purchase of materials, equipment, property or services.
Directors, officers and employees who use Anadarko advisors, suppliers or contractors in
a personal capacity are expected to pay market value for materials and services provided.
Outside Employment. Officers and employees may not participate in outside
employment, self-employment, or serve as officers, directors, partners or consultants for
outside organizations, if such activity:
APC 469 (02/08)
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1. reduces work efficiency;
2. interferes with your ability to act conscientiously in our best interest; or
3. requires you to utilize our proprietary or confidential procedures, plans or
techniques.
You must inform your supervisor of any outside employment, including the employer’s
name and expected work hours.
Mineral interest in properties. Any interest held by you or any of your family
members residing in your household in oil, gas or coal properties, royalties or other
mineral interests, or interests in companies either owning mineral interests or providing
services or materials to the Company must be disclosed in writing.
Reporting Conflicts of Interest or Potential Conflicts of Interest. You should
report any actual or potential conflict of interest involving yourself or others of which
you become aware to your supervisor, the General Counsel or the Chief Governance
Officer. Officers should report any actual or potential conflict of interest involving
yourself or others of which you become aware to the General Counsel, Chief Governance
Officer or to the Chairman of the Nominating and Corporate Governance Committee of
the Board of Directors. Directors should report any actual or potential conflict of interest
involving yourself or others of which you become aware to the Chairman of the
Nominating and Corporate Governance Committee of the Board of Directors.
Corporate Communications
See Investor Relations and Public Affairs.
Corporate Opportunities and Use and Protection of Company Assets
You are prohibited from:
1. taking for yourself, personally, opportunities that are discovered through
the use of Company property, information or position;
2. using Company property, information or position for personal gain; or
3. competing with the Company.
You have a duty to Anadarko to advance its legitimate interests when the
opportunity to do so arises.
You are personally responsible and accountable for the proper expenditure of
Company funds, including money spent for travel expenses or for customer
entertainment. You are also responsible for the proper use of property over which you
have control, including both Company property and funds and property that customers or
APC 469 (02/08)
10
others have entrusted to your custody. Company assets must be used only for proper
purposes.
Company property should not be misused. Company property shall not be sold,
loaned or given away regardless of condition or value, without proper authorization.
Each director, officer and employee should protect our assets and ensure their efficient
use. Theft, carelessness and waste have a direct impact on the Company’s profitability.
All of our assets should be used only for legitimate business purposes.
Discipline for Noncompliance with this Code
Disciplinary actions for violations of this Code of Business Conduct and Ethics
can include oral or written reprimands, suspension or termination of employment or a
potential civil lawsuit against you. The violation of laws, rules or regulations, which can
subject the Company to fines and other penalties, may result in your criminal
prosecution.
Disclosure Policies and Controls
The continuing excellence of the Company’s reputation is dependent upon our
full and complete disclosure of important information about the Company that is used in
the securities marketplace. Our financial and non-financial disclosures and filings with
the SEC must be transparent, accurate and timely. Proper reporting of reliable, truthful
and accurate information is a complex process involving cooperation between many
departments and disciplines. We must all work together to insure that reliable, truthful
and accurate information is disclosed to the public.
The Company shall disclose to the SEC, current security holders and the investing
public information that is required, and any additional information that may be necessary
to ensure the required disclosures are not misleading or inaccurate. The Company
requires you to participate in the disclosure process, which is overseen by the Disclosure
Committee and the CEO and CFO. The disclosure process is designed to record, process,
summarize and report material information as required by all applicable laws, rules and
regulations. Participation in the disclosure process is a requirement of a public company,
and full cooperation and participation by members of the Disclosure Committee, CEO,
CFO and, upon request, other employees in the disclosure process is a requirement of this
Code.
Officers and employees must fully comply with their disclosure responsibilities in
an accurate and timely manner or be subject to discipline of up to and including
termination of employment.
APC 469 (02/08)
11
Environment, Health and Safety
Anadarko is committed to managing and operating our worldwide assets in a
manner that is protective of human health and safety and the environment. It is our
policy to comply, in all material respects, with applicable health, safety and
environmental laws and regulations. Each employee is also expected to comply with our
policies, programs, standards and procedures. Please see related procedures on the
Anadarko Intranet.
Fair Dealing with Others
No director, officer or employee should take unfair advantage of anyone through
manipulation, concealment, abuse of privileged information, misrepresentation of
material facts or any other unfair-dealing practice.
Filing of Government Reports
Any reports or information provided, on our behalf, to federal, state, local or
foreign governments should be true, complete and accurate. Any omission, misstatement
or lack of attention to detail could result in a violation of the reporting laws, rules and
regulations.
Foreign Corrupt Practices Act
The United States Foreign Corrupt Practices Act prohibits giving anything of
value, directly or indirectly, to foreign government officials or foreign political
candidates in order to obtain, retain or direct business. Accordingly, corporate funds,
property or anything of value may not be, directly or indirectly, offered or given by you or
an agent acting on our behalf, to a foreign official, foreign political party or official thereof
or any candidate for a foreign political office for the purpose of influencing any act or
decision of such foreign person or inducing such person to use his influence or in order to
assist in obtaining or retaining business for, or directing business to, any person.
You and our agents are also prohibited from offering or paying anything of value to
any foreign person if it is known or there is a reason to know that all or part of such
payment will be used for the above-described prohibited actions. This provision includes
situations when intermediaries, such as affiliates, or agents, are used to channel payoffs to
foreign officials.
The Foreign Corrupt Practices Act also contains significant internal accounting
control and record-keeping requirements that apply to the Company’s domestic and
international operations. For more information on the Foreign Corrupt Practices Act,
APC 469 (02/08)
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please consult the Anadarko Foreign Corrupt Practices Act Compliance Manual and
related procedures posted on the Anadarko Intranet or contact the Legal department.
Insider Trading or Stock Tipping
Directors, officers and employees who are aware of material, nonpublic
information (an “insider”) from or about the Company, are not permitted, directly or
through family members or other persons or entities, to:
• Buy or sell securities (or derivatives relating to such securities) of
Anadarko, including transfers in or out of the Anadarko stock funds in the
Employee Savings Plan (other than pursuant to a pre-approved trading
plan that complies with the SEC Rule 10b5-1), or
• Pass on, tip or disclose material, nonpublic information to others outside
the Company including family and friends.
Such buying, selling or trading of securities may be punished by discipline of up
to and including termination of employment; civil actions, including penalties of up to
three times the amount of profit gained or loss avoided by the inside trade or stock tip; or
criminal actions, including jail time.
Examples of information that may be considered material, non-public information
in some circumstances are:
• Undisclosed annual, quarterly or monthly financial results, a change in
earnings or earnings projections, or unexpected or unusual gains or losses in
major operations.
• Undisclosed negotiations and agreements regarding mergers, concessions,
joint ventures, acquisitions, divestitures, business combinations or tender
offers.
• An undisclosed increase or decrease in dividends on the Company’s common
stock.
• Undisclosed major regulatory changes.
• Undisclosed major management changes.
• Undisclosed information as to results of significant drilling and exploration
activity.
• A substantial contract award or termination that has not been publicly
disclosed.
• A major lawsuit or claim that has not been publicly disclosed.
• The gain or loss of a significant customer or supplier that has not been
publicly disclosed.
• An undisclosed filing of a bankruptcy petition by the Company or a
significant subsidiary.
APC 469 (02/08)
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• Information that is considered confidential.
• Any other undisclosed information that could affect our stock price.
Another Company’s Securities. The same policy also applies to securities issued by
another company if you have acquired material, nonpublic information relating to such
company in the course of your employment or affiliation with Anadarko.
Trades Following Disclosure. When material information has been publicly disclosed,
each insider must continue to refrain from buying or selling the securities in question
until the third business day after the information has been publicly released to allow the
markets time to absorb the information.
Intellectual Property: Patents, Copyrights and Trademarks
Except as otherwise agreed to in writing between the Company and an officer or
employee, all intellectual property you conceive or develop during the course of your
employment shall be the sole property of Anadarko. The term intellectual property
includes any invention, discovery, concept, idea, or writing whether protectable or not by
any United States or foreign copyright, trademark, patent, or common law including, but
not limited to designs, materials, compositions of matter, machines, manufactures,
processes, improvements, data, computer software, writings, formula, techniques, knowhow,
methods, as well as improvements thereof or know-how related thereto concerning
any past, present, or prospective activities of the Company. Officers and employees must
promptly disclose in writing to the Company any intellectual property developed or
conceived either solely or with others during the course of your employment and must
render any and all aid and assistance, at our expense to secure the appropriate patent,
copyright, or trademark protection for such intellectual property.
Works of authorship including literary works such as books, articles, and
computer programs; musical works, including any accompanying words; dramatic works,
including any accompanying music; pantomimes and choreographic works; pictorial,
graphic, and sculptural works; motion pictures and other audiovisual works; sound
recordings; and architectural works are protected by United States and foreign copyright
law as soon as they are reduced to a tangible medium perceptible by humans with or
without the aid of a machine. A work does NOT have to bear a copyright notice in order
to be protected and without the copyright owner’s permission, no one may make copies
of the work, create derivative works, distribute the work, perform the work publicly, or
display the work publicly.
We have agreements in place, which grant employees permission to make use of
copyrighted works under certain conditions provided that the limitations of those
agreements are followed. You are authorized to make partial photocopies of certain
works pursuant to our agreement with the Copyright Clearance Center.
APC 469 (02/08)
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Copyright laws may protect items posted on a website. Unless a website grants
permission to download the Internet content you generally only have the legal right to
view the content. If you do not have permission to download and distribute specific
website content you should contact the Legal department.
If you are unclear as to the application of this Intellectual Property Policy or if
questions arise, please consult with the Legal department.
Investor Relations and Public Affairs
It is very important that the information disseminated about the Company be both
accurate and consistent. For this reason, the Investor Relations department and the Public
Affairs department are responsible for the Company’s internal and external
communications. The Investor Relations department is responsible for public
communications with stockholders, analysts and other interested members of the
financial community. The Public Affairs department is responsible for our marketing and
advertising activities and communication with employees, the media, local communities
and government officials. The Public Affairs department serves as the spokesperson in
both routine and crisis situations. In some cases where information about a non-routine
incident should be made available to the media before someone from the Public Affairs
department has arrived, field personnel who have been trained in crisis response are
authorized to speak for us until someone from the Public Affairs department is available
to handle media inquiries.
Non-Retaliation for Reporting
In no event will we take or threaten any action against you as a reprisal or
retaliation for making a complaint or disclosing or reporting information in good faith.
However, if a reporting individual was involved in improper activity the individual may
be appropriately disciplined even if he or she was the one who disclosed the matter to the
Company. In these circumstances, we may consider the conduct of the reporting
individual in promptly reporting the information as a mitigating factor in any disciplinary
decision.
We will not allow retaliation against an employee for reporting a possible
violation of this Code in good faith. Retaliation for reporting a federal offense is illegal
under federal law and prohibited under this Code. Retaliation for reporting any violation
of a law, rule or regulation or a provision of this Code is prohibited. Retaliation will
result in discipline up to and including termination of employment and may also result in
criminal prosecution.
APC 469 (02/08)
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Patents, Copyrights, and Trademarks
See Intellectual Property.
Political Contributions
You shall refrain from making any use of Company, personal or other funds or
resources on behalf of the Company for political or other purposes which are improper or
prohibited by the applicable federal, state, local or foreign laws, rules or regulations.
Company contributions or expenditures in connection with election campaigns will be
permitted where allowed by federal, state, local or foreign election laws, rules and
regulations.
You are encouraged to participate actively in the political process. We believe
that individual participation is a continuing responsibility of those who live in a free state.
Prohibited Substances
We have policies prohibiting the use of alcohol, illegal drugs or other prohibited
items, including legal drugs which affect the ability to perform one’s work duties, while
on Company premises. We also prohibit the possession or use of alcoholic beverages,
firearms, weapons or explosives on our property unless authorized by an Executive
Officer of the Company. The Company also prohibits you from reporting to work while
under the influence of alcohol or illegal drugs. We also perform pre-employment and
random drug testing on certain employees. For the procedures on prohibited substances
you should see the Anadarko Intranet.
Public Affairs
See Investor Relations.
Record Retention
We have detailed document retention policies to systematically establish retention
periods for records created or received in the normal course of business. A record is
information, regardless of physical format, which has been created or received in the
transaction of the Company’s business. Physical format of a record includes hard copy,
electronic, magnetic tape, disk, audio, video, optical image, etc. Each corporate
department and division office is responsible for the maintenance, retrieval, transfer, and
APC 469 (02/08)
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destruction of its records in accordance with the established filing procedures, records
retention schedules and procedures.
The alteration, destruction or falsification of corporate documents or records may
constitute a criminal act. Destruction or alteration of documents with the intent to
obstruct a pending or anticipated official government proceeding is a criminal act and
could result in large fines and a prison sentence of up to 20 years. Document destruction
or falsification in other contexts can result in a violation of the federal securities laws or
the obstruction of justice laws.
Before any destruction of any documents or records, you must consult the
procedures posted on the Anadarko Intranet. You are required to review, follow and
abide by the terms of this policy and related procedures. If the policy or procedure is not
clear, questions arise, or there is a pending or anticipated official proceeding, then the
General Counsel must approve any document destruction.
Relations Among Employees: Respect and Contribution
We function as a team. Your success as part of this team depends on your
contribution and ability to inspire the trust and confidence of your coworkers and
supervisors. Respect for the rights and dignity of others and a dedication to the good of
our Company are essential.
A cornerstone of Anadarko’s success is the teamwork of its directors, officers and
employees. We must each respect the rights of others while working as a team to fulfill
our objectives. To best function as part of a team, you must be trustworthy and dedicated
to high standards of performance. The relationships between business groups also
require teamwork.
To facilitate respect and contribution among employees, we have implemented
the following employment policies:
• To hire, pay and assign work on the basis of qualifications and
performance.
• Not to discriminate on the basis of race, religion, ethnicity, national origin,
color, gender, sexual orientation, age, citizenship, veteran’s status, marital
status, disability or any other legally protected status.
• To attract and retain a highly talented workforce.
• To encourage skill growth through training and education and promotional
opportunities.
• To encourage an open discussion between all levels of employees and to
provide an opportunity for feedback from the top to the bottom and from
the bottom to the top.
APC 469 (02/08)
17
• To prohibit any sexual, physical, verbal or any other kind of harassment
by others while an employee is on the job.
• To make the safety and security of our employees while at Company
facilities a priority.
• To recognize and reward additional efforts that go beyond our
expectations.
• To respect all workers’ rights to dignity and personal privacy by not
disclosing employee information, including protected health information,
unnecessarily.
Reporting of Code Violations
You should be alert and sensitive to situations that could result in actions that
might violate federal, state, or local laws or the standards of conduct set forth in this
Code. If you believe your own conduct or that of a fellow employee may have violated
any such laws or this Code, you have an obligation to report the matter.
Generally, you should raise such matters first with an immediate supervisor.
However, if you are not comfortable bringing the matter up with your immediate
supervisor, or do not believe the supervisor has dealt with the matter properly, then you
should raise the matter with the Vice President in charge of your division or, if a law, rule
or regulation is in question, then consult with the General Counsel. The most important
point is that possible violations should be reported and we support all means of reporting
them.
Directors and officers should report any potential violations of this Code to the
Chief Governance Officer or the Nominating and Corporate Governance Committee of
the Board of Directors.
Waivers
There shall be no waiver of any part of this Code for any director or officer except
by a vote of the Board of Directors or a designated board committee that will ascertain
whether a waiver is appropriate under all the circumstances. In case a waiver of this
Code is granted to a director or officer, the notice of such waiver shall be posted on our
website within five days of the Board of Directors’ vote or shall be otherwise disclosed as
required by applicable law or New York Stock Exchange rules. Notices posted on our
website shall remain there for a period of 12 months and shall be retained in our files as
required by law.
A waiver for a specific event arising under the “Conflicts of Interest” section of
this Code may be granted to an employee that is not a director or officer on the approval
of two of the following officers: the Vice President in charge of the division or
APC 469 (02/08)
18
department for which the employee works; the General Counsel; and, the Chief
Governance Officer. No other waivers of this Code are permitted.
Conclusion
This Code is an attempt to point all of us at Anadarko in the right direction, but no
document can achieve the level of principled compliance that we are seeking. In reality,
each of us must strive every day to maintain our awareness of these issues and to comply
with the Code’s principles to the best of our abilities. We must always ask:
Does it feel right?
Is this action ethical in every way?
Is this action in compliance with the law?
Could my actions create an appearance of impropriety?
Am I trying to fool anyone, including myself, about the propriety of this action?
We cannot expect perfection, but we do expect good faith. If you act in bad faith
or fail to report illegal or unethical behavior, then you will be subject to disciplinary
procedures. We hope that you agree that the best course of action is to be honest,
forthright and loyal at all times.
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