The successful operation and reputation of Seaboard Corporation and its subsidiaries and affiliates (collectively, the "Company") depend upon the professional work performance and the ethical conduct of its directors, officers and employees. The Company's reputation for integrity and excellence requires careful compliance with the spirit and letter of all laws and regulations, as well as a commitment to the highest standards of personal and professional conduct.

 

This organization was built upon wise business decisions and an attitude of trust and respect between the Company and its customers, vendors and suppliers, employees, and shareholders. That trust must be preserved. Directors, officers and employees have a duty to support the goals and objectives of the Company, and to act in a way that will always merit the continued confidence of customers, vendors and suppliers, employees, and shareholders.

 

Accordingly, the Company adopts the following Code of Ethics:


I. Honest and Ethical Conduct

Directors, officers and employees shall exhibit and promote the highest standards of honest and ethical conduct by: 

  • Encouraging and rewarding professional integrity thereby eliminating coercion, fear of reprisal, or alienation from the Company itself, which can act as barriers and inhibit responsible and ethical behavior.  

  • Avoiding, prohibiting and eliminating any conflict of interest or appearance of a conflict of interest between the Company and what could result in personal gain for a director, officer or employee of the Company, as defined in the attached Conflict of Interest policy.  

  • Following a process for employees of the Company to inform senior management of practices which deviate from honest and ethical behavior.  

  • Demonstrating their personal support for such policies and procedures, which will be encouraged by periodic communication from senior management reinforcing these ethical standards throughout the Company.  

II.  Financial Records and Periodic Reports

Directors, officers and employees shall ensure that:

  • Business transactions are properly authorized and completely and accurately recorded on the Company's books and records in accordance with Generally Accepted Accounting Principles (GAAP) and established Company financial policy.
  • The retention or proper disposal of Company records shall be in accordance with established Company policies and applicable legal and regulatory requirements.
  • Reports and documents the Company files with, or submits to, the Securities and Exchange Commission, or contained in other public communications, shall contain full, fair, accurate, timely and understandable disclosure. 

IIII.  Anti-Competitive Conduct

Directors, officers and employees shall not enter into any agreement, understanding or arrangement with any competitor about prices, territory restrictions, refusals to sell, allocation of business, bidding, or engage in any other type of anti competitive practice, in violation of applicable laws or regulations. 

 

IV.  Compliance with Applicable Laws, Rules and Regulations

Directors, officers and employees, to the extent applicable to their job function, shall comply with all federal, state and local statutes, regulations and administrative procedures in the course of all conduct on behalf of the Company.

 

V.  Related Policies

In addition to the general policies above, the Company adopts the following additional conduct-related policies as part of the Code of Ethics:

These policies are attached. As a condition of employment, each employee of the Company must be familiar with these policies and agree to abide by their provisions. Violations of the content or spirit of this Code of Ethics and its related provisions are unacceptable and may lead to disciplinary action up to and including termination of employment or separation of ongoing business relationship with the Company.

 

VI. Reporting Violations

If anyone has knowledge of or is suspicious of any breach of any section of this Code or is concerned whether circumstances could lead to a violation of this Code, such person should report the matter to one or more of the following: the person's immediate supervisor, the Company's Director of Human Resources or the Company's General Counsel. Alternatively, the matter may be reported by calling the Company's dedicated toll free number, 866-676-8886, which will be answered by the Company's Director of Human Resources. If a caller prefers to raise concerns anonymously, no attempt will be made to determine identity. The Company will not allow any retaliation against an employee who acts in good faith in reporting any such violation or suspected violation.

 

This Code of Ethics covers a wide range of business practices. It does not address every issue that may arise, but provides general guidance about the Company's expectations of proper conduct and basic ethical and legal responsibilities. All subsidiaries of Seaboard Corporation shall adopt this Code of Ethics or a similar policy containing only such changes as are approved by Seaboard Corporation's Director of Human Resources.


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05/02/2007