Any director, officer, employee or other representative of Grace who discovers any matter which is or appears to be in violation of this Policy or any other Grace policy covered by the principles set forth in this Policy or applicable law shall report the matter immediately by contacting either of the following persons:
- Mark A. Shelnitz, Chief Ethics Officer and General Counsel
- John P. Forgach, Senior Employment Counsel
If for any reason an individual does not believe contacting these persons is appropriate, then he or she may report the
matter by calling the Grace Ethics Hotline that is available toll-free from more than 40 countries.
The Ethics Hotline can be reached by dialing an access code and a toll-free number posted in the Governance section of Grace’s
corporate website available at
Links for reporting by email or internet are also provided on the website.
Contacts to the Ethics Hotline (as well as reports to the persons listed above) may be submitted anonymously. (The Hotline does not have caller-ID).
Alternatively, a person may contact the Audit Committee of the Grace Board directly with respect to any matter involving accounting, auditing, financial reporting or internal controls. The Audit Committee may be contacted by writing to Mr. Mark E. Tomkins, Chair of the Audit Committee of W. R. Grace & Co., 5202 N. 44th Street, Phoenix, AZ 85018 or by calling 312-914-9799.
All reports and calls to the persons listed above or to the Ethics Hotline will be treated confidentially. Information provided in such reports and calls shall be shared with other individuals only to the extent necessary (1) to conduct a full and fair investigation, and (2) for Grace to take any corrective action. Specifically, the sharing of that information will be balanced fairly between protecting the privacy of personal information, and the need to fully and fairly investigate any allegations made in such reports or calls and meet any resulting disclosure obligations that Grace may have to regulatory or judicial authorities.
All reports will be fully and fairly investigated and the results of the investigation will be communicated to the individual who reported the alleged violation. Grace may conduct the investigation internally, led by the Chief Ethics Officer or Senior Employment Counsel (or an appropriate designee) or externally, using outside counsel, independent accountants or a private investigation firm. The investigation may include, to the extent permitted by law, interviews, document review (including Grace files, files maintained by employees, employee e-mails, phone logs and other electronic records), and surveillance during business or non-business hours. Any investigation conducted using outside counsel, independent accountants or a private investigator must be approved in advance by the General Counsel or the Chair of the Audit Committee, and will be reported to the Audit Committee.
Any person who is the subject of a report or Ethics Hotline call shall be notified of the investigation and be given an opportunity to respond fully to each accusation or complaint reported. However, the identity of any individual who makes such a report or call shall not be identified to such person, to the extent consistent with conducting a full and fair investigation.
The Chief Ethics Officer shall maintain a file of all reports and actions taken to address reported allegations. The Chief Ethics Officer shall advise the Audit Committee at its next meeting of any matters involving accounting, auditing, financial reporting or internal controls brought to the attention of Grace since the last Audit Committee meeting.1
Directors, officers, employees and representatives are expected to report violations of Grace's policies and procedures. Grace will not permit retaliation of any kind for a report made in good faith.
Employees are also encouraged to discuss ethical issues with their supervisors or any of the persons referred to above when in doubt about the best course of action to follow in a particular situation.
Grace will hold all persons who violate or knowingly fail to report a violation of the Policy accountable for their actions and will take appropriate disciplinary action when necessary (including termination and seeking criminal prosecution), whether the person involved is a director, executive or other officer, manager, employee or representative of Grace. No waiver shall be granted to an employee or representative of Grace unless such waiver is approved in advance by the Chief Ethics Officer. No waiver shall be granted to a director, an executive officer (including the principal executive officer and the principal financial officer), the principal accounting officer or controller or persons performing similar functions, unless such waiver is approved by the Board of Directors and disclosed to the public in accordance with SEC and/or New York Stock Exchange requirements to the extent applicable.
All officers and managers of Grace are responsible for monitoring and enforcing this Policy within their respective areas of responsibility. Directors, officers, all U.S. salaried employees and certain non-U.S. management employees and other representatives of Grace will be required to execute annually a certificate indicating that they understand and have complied with this Policy, Policy No. 507 - Conflicts of Interest - and other Grace policies that cover the principles specified above. Certificates will be maintained for five years.
The Chief Ethics Officer and Board of Directors shall review this Policy at least annually.