This Code of Business Conduct and Ethics (the “Code”) applies to Range Resources Corporation and its subsidiaries (although separate entities, in the Code they are collectively referred to as “Range or the “Company””) and Range’s directors, officers and employees. All Company personnel must comply with the Code. Because any illegal or unethical action, or the appearance of misconduct or impropriety by anyone acting on Range’s behalf, is unacceptable, the Code should also be followed, where appropriate, by Range’s agents and representatives, including consultants and independent contractors (collectively referred to as “consultants”) where specifically required. When the word “you” is used below it includes all employees, directors and where applicable from the context, consultants.
If you believe a fellow employee, consultant or director is violating the Code or otherwise acting in an illegal or unethical manner, you must report it. Doing so will not be considered an act of disloyalty, but an action which shows your sense of responsibility and fairness to Range’s customers, shareholders and fellow employees. You also help safeguard the reputation and the assets of Range. Range prohibits retaliation of any kind for all good faith reports of possible violations of the Code.
Reporting violations of the Code is also necessary because in some cases failure to report an illegal act by another person is itself a criminal act for which you could be prosecuted. Violations of the Code may cause an employee, officer or director to be subject to disciplinary action up to and including immediate termination. If you have any questions about whether a particular behavior is a violation of the Code, it is your responsibility to seek guidance from your supervisor, the General Counsel or the Human Resources Department.
This Code is not intended to be a comprehensive manual that covers every situation you might encounter. In many cases, more specific requirements are contained in the various corporate policies, procedures and guidelines, which you can obtain from your supervisor or through the Human Resources Department. Further, where the Code does not specifically address a particular situation it is your responsibility to seek guidance from your supervisor, the General Counsel or the Human Resources Department before taking an action that you are uncertain would be in compliance with the Code and Range policies.
COMPLIANCE WITH THE LAW
It is the policy of Range that we will conduct business in accordance with all applicable federal, state and local laws and regulations, as well as applicable laws and regulations of foreign jurisdictions, and in a manner that will always reflect a high standard of ethics. The laws and regulations applicable to Range are far reaching and complex. Compliance with the law does not comprise our entire ethical responsibility; rather, it is a minimum, essential condition for performance of our duties. Perceived pressure from supervisors or demands due to business conditions are never excuses for violating the law. Any questions or concerns about the legality of an action should be addressed with David Poole, General Counsel. Consistent with Chapter 8 – Part B, Section 2 covering Effective Compliance and Ethics Program of the Federal Sentencing Guideline Manual as updated as of November 1, 2008, Range has adopted the guidelines for all its compliance programs for various federal, state and local laws and regulations. In summary, to embrace those guidelines Range has:
- Established standards and procedures Range believes are reasonably capable of preventing and detecting violation of various laws and regulations which could give rise to criminal conduct;
- The Board is knowledgeable about the content and operation of our compliance and ethics programs and exercises reasonable oversight to the implementation and effectiveness of the compliance and ethics program;
- Specific corporate level personnel have been assigned overall responsibility for the compliance and ethics programs with specific individuals within the organization having day to day operational responsibility for the compliance and ethics program;
- Range uses reasonable efforts to exclude any individuals who have engaged in illegal activities or other conduct inconsistent with our compliance and ethics programs;
- Range has instituted planned periodic steps to communicate the standards and procedures of its compliance and ethics programs to all employees, agents and directors of Range;
- Range takes reasonable steps to ensure that our compliance and ethics programs are followed and are effective by periodic monitoring and auditing procedures; and
- Range enforces consistently throughout the organization our compliance and ethics programs and if criminal conduct is detected will respond appropriately to prevent similar conduct.
As set forth in the previous section, it is the policy of Range to conduct business in compliance with all applicable laws and regulations, including but not limited to, those relating to environmental protection and regulatory requirements. In addition to compliance with these requirements, Range is committed to being a steward of the environment in all areas in which we operate. All Range employees, regardless of their role, are expected to perform their assigned duties within the scope of the law and in compliance with environmental laws and regulations. For office employees, this may include properly and diligently preparing permit applications. For field employees, this may include promptly reporting and remediating all spills and releases.
At Range, an Environmental Compliance (EC) Department supports this policy. Basic functions of the EC Department include guiding and advising the operating functions of the business, inspecting regulated activities, and auditing compliance with laws, rules and policies, including data management. Plans, procedures, field guides, and a number of other types of materials are generated and maintained by the EC Department and are available for reference on the EC page of the Range intranet. Employees are encouraged to utilize these resources and to seek assistance from any member of the EC or Legal staff as often as necessary to ensure Range’s continued compliance with all applicable laws and regulations.
“CONFLICT OF INTEREST” AND HOW TO AVOID IT
Employees shall not engage in any activity, practice, or act which conflicts with, or appears to conflict with, the interests of the Company, its customers, or vendors. You should fully disclose any potential conflict of interest to your supervisor or to the Human Resources Department.
A conflict of interest exists when you, knowingly or unknowingly, engage in any activity that may compromise you, another employee, or the Company in its relationship with a customer, vendor, or competitor.
Potential Conflicts of Interest – Potential conflicts of interest with a customer, vendor, or competitor may include soliciting business for business or personal gain; accepting gifts other than permitted under Range’s gift policy (generally gifts with a value of less than $250 are acceptable), or requesting personal favors, discounts, or services. Exceptions may include:
- Acceptance of meals, refreshments, or entertainment of reasonable value in the course of a meeting or other occasion, the purpose of which is to hold bona fide business discussions;
- Acceptance of advertising or promotional material of nominal value;
- Acceptance of discounts or rebates on merchandise or services that do not exceed those available to other customers;
- Acceptance of gifts of nominal value (less than $250) related to commonly recognized events or occasions (such as marriage, birthdays, etc.); or
- Acceptance of civic, charitable, educational, or religious organizational awards for recognition of service and accomplishment.
If you are offered, receive, or anticipate receiving an item of value from a customer beyond what is expressly authorized in this policy, you must disclose the matter to your supervisor and to the General Counsel or his designee. A Notice of Receipt of Gifts Exceeding $250 is available under the Human Resources tab on the employee intranet site.
Solicitation of Business – No employee or representative of the Company is to offer, give or accept any gift, gratuity, amenity, or favor to or from any individual or representative of an organization in an effort to influence a business relationship with the Company. Exceptions to this policy are limited to normal business entertainment, such as meals, if approved by your supervisor or the General Counsel.
Outside Business Interests – Employees may not solicit, invest in, or purchase oil or gas leases, mineral rights, or royalty interests. Industry-related interests acquired prior to employment with Range must be disclosed upon employment on a Disclosure Statement.
Employees are not to recruit other employees or contractors for employment with third parties. In the event that an employee is considering terminating, or intending to terminate, his or her employment, the employee shall not solicit or induce or attempt to solicit or induce any employee of the Company to leave the Company or any independent contractor of the Company to terminate his or her services with the Company.
Employees must not have a financial interest in other businesses which are engaged directly or indirectly in the oil and gas business, in the oil and gas service business, or as a supplier of goods and services to Range, except for publicly traded securities where the ownership position is less than one percent (1%) of the equity interests in the business and is disclosed in writing to the Human Resources Department.
All activities of the Company must be conducted in full compliance with all applicable laws and regulations. Senior management should be informed regarding all matters pertinent to the Company’s position regarding such laws and regulations. All employees are required to cooperate fully with the Company’s internal and outside auditors, attorneys, and regulatory examiners in any internal or external investigation.
Full disclosure to the Human Resources Department of any potential conflict of interest before it occurs is required. If any employee believes that unusual circumstances justify his/her engaging in an activity which may result in a conflict of interest, he/she may request in writing the General Counsel review the situation and grant an exception.
Business decisions and actions must be based on the best interests of the Company, and must not be motivated by personal considerations or relationships. Relationships with prospective or existing suppliers, contractors, customers, competitors, regulators or other employees must not affect your independent and sound judgment on behalf of the Company. General guidelines to help you better understand several of the most common examples of situations that may cause a conflict of interest are listed below. However, you are required to disclose to the Human Resources Department any situation that may be, or appears to be, a conflict of interest. When in doubt, you should disclose in advance any circumstances that might result in a conflict of interest.
Outside Employment – Employees may not work for or receive payments for services from any competitor, customer, or supplier to the Company without the prior express approval of the Human Resources Department. Any such approval must be documented. Any approved outside activity must be strictly separated from the Company employment and should not interfere with your job performance at the Company or adversely reflect upon the Company.
Board Memberships – Employees who wish to accept a seat on the board of directors of a for profit outside Company, a charitable, governmental, non-profit, community or other similar organization board must obtain the advance written approval of the General Counsel and the Chief Executive Officer. Directors accepting a seat on the board of directors of another Company (whether a for-profit or not-for-profit Company) may do so at their discretion, but must notify the General Counsel in writing and comply with other corporate governance requirements.
Family Members and Close Personal Relationships – Personal relationships that lead to, or may be perceived to lead to, favoritism or preferential treatment in connection with Range’s business or operations are prohibited. Personal relationships include relatives, someone you are dating or anyone living in your household. The Company may allow the employment of your family members, others living in your household, or persons with other special (i.e. dating) relationships in positions for which they are qualified provided that such employment does not result in an actual or perceived conflict of interest. If an employee dates another employee at any time during their employment, that fact must be disclosed in writing to the Human Resources Department and to your supervisor. This applies to both casual dating and serious, ongoing relationships. The Human Resources Department will review the situation to determine if actual or perceived conflicts of interest exist, such as direct reporting or management/peer relationships. If it is determined that a conflict of interest does exist, employees may be requested to transfer to an available position, if such placement is in the best interest of the Company, or the employment of one of the employees may be terminated.
You shall not use personal influence to direct any Company business to a business in which you, any family member (including the family of your spouse or anyone who lives in your household), anyone you are dating or any close personal friend has an interest. If you are aware that the Company is engaged in or may be contemplating any business with such a business, you must provide written notice of your relationship to the Human Resources Department.
Investments – You may not allow your personal investments to influence, or appear to influence, your independent judgment on behalf of Range. If there is any doubt about how an investment might be perceived, it should be disclosed in writing to the Human Resources Department. Consultants may have more restrictive provisions as evidenced by their written agreements.
Gifts to Employees – You may not accept kickbacks, lavish gifts or gratuities and you may not accept anything regardless of value that might make it appear that your judgment for the Company would be compromised. You may accept items with a value of $250 or less without reporting such gifts. Any gifts received that are valued in excess of $250 should be reported to the General Counsel or his designee and returned if possible. In some situations, it may be impractical or harmful to Range to refuse or return a gift. The General Counsel or his designee will determine whether or not a gift in excess of $250 in value will be returned or refused or handled in a different manner.
Gifts to Others – Some business situations call for giving gifts. Range’s gifts must be legal and reasonable and consistent with the policies of the employer of any individual recipient of the gift. Any individual gift costing over $250 must be approved in writing by the Human Resources Department.
You may not provide any gift if it is prohibited by law or, to your knowledge, the policy of the recipient’s organization. For example, the employees of many governmental entities around the world are prohibited from accepting gifts.
Entertainment of Employees – You may accept entertainment that is reasonable in the context of the business and that advances Range interests. For example, accompanying a business associate to a local cultural or sporting event, or to a business meal, would in most cases be acceptable.
Entertainment that is lavish or unreasonably frequent may appear to influence your independent judgment on behalf of Range. Accepting entertainment that may appear inappropriate should be approved in writing in advance by your supervisor and the General Counsel.
Entertainment by Range – You may provide entertainment that is reasonable in the context of Range’s business. You must, however, obtain advance approval in writing from your supervisor and the General Counsel if such entertainment involves activities outside customary business meals or local cultural or sporting events.
Acceptance of Travel Expenses – You may accept transportation and lodging provided by a supplier or other third party, if the trip is for business or is business-related. Any such travel and lodging estimated to cost in excess of $500 must be approved in writing in advance by your supervisor and the General Counsel.
Providing Travel – Unless prohibited by law or the policy of the recipient’s organization, Range may pay the transportation and lodging expenses incurred by customers, agents or suppliers in connection with a visit to a Range facility or other Range business. The visit must be for a business purpose and must be approved in writing in advance by your supervisor and the General Counsel if such expenses are estimated to exceed $500 per person, unless such expenses have been specifically approved by the Board of Directors.
Political Contributions – The Company maintains a non-political and non-partisan position. No Range funds or assets may be promised, committed, loaned or contributed to any political party or organization, or to any individual who holds or is a candidate for public office except when permitted by applicable law and pre-authorized by the General Counsel. Employees are encouraged to engage in political activities as an individual on his or her own time and at his or her own expense. Employees are not prohibited from making political contributions from personal funds or from expressing individual views with respect to legislative or political matters on his or her own time.
It is strictly prohibited to make illegal payments to government officials. There are a number of federal laws and regulations regarding business gratuities that may be accepted by United States government personnel. The promise, offer or delivery to an official or employee of the United States government of a gift, favor or other gratuity in violation of these rules would not only violate Range’s policy but could also be a criminal offense. State and local governments may have similar rules. Range’s General Counsel can provide guidance in this area.
All contributions and/or entertainment, travel, meals, etc. provided to candidates or incumbents on behalf of Range must have prior approval of the General Counsel.
Taking Company Business Opportunities – You may not take for yourself opportunities that rightfully belong to Range. These opportunities rightfully belong to Range when, for example, Range has pursued the opportunity, when it has been offered to Range, when it is the kind of business Range competes in, when Range has funded it, when Range has devoted facilities or personnel to develop it, or when it is in the same line of business as Range’s business.
PROTECTION OF COMPANY PROPERTY AND ASSETS
Use Of Company IT Systems – You have a responsibility to protect Range’s assets from loss, damage, misuse or theft. Company assets such as funds, products or computers, may only be used for business purposes or other purposes approved by an officer of Range. Incidental use of Range’s computer system for personal communications is acceptable as long as such use does not interfere with your job duties and responsibilities. You should be aware that your Range email is not private and is subject to review and access by other Range personnel. Range’s assets may never be used for illegal purposes. Range’s property should not be taken out of Range facilities for use outside of the normal course of Range business unless necessary and authorized by your supervisor or an officer of Range in connection with your work for Range.
Internet Use – Access to the Internet is provided to employees for use in conducting business-related duties. Guidelines to follow when downloading files from the Internet:
- The download enhances the employee’s productivity.
- The download is from a reputable source.
- The file does not subject the Company to potential liability.
- The application, tool, or template has been approved in advance by the IT Manager.
- The download does not cause a conflict with the Code.
Electronic Communications (Including e-mail) – The Company provides e-mail, voice mail, and Internet access in order to enable employees to communicate more efficiently and to provide an effective resource for the operation of the business. Unauthorized personal use (including participation in chat rooms or blogs), any unauthorized access, and/or misuse of the Company computer system is strictly prohibited. The following guidelines must be followed:
- All communications composed or sent through the Company’s computer systems must be written in a professional manner. This includes messages sent outside the Company and all internal communications.
- Use of the Company electronic communication equipment must not disrupt the operation of the Company network or interfere with any employee’s productivity.
- All Range policies, including all Equal Employment Opportunity and Harassmentpolicies, must be followed while using Company equipment. No abusive, profane, or offensive language or pictures may be transmitted by employees.
- Internet sites that contain offensive material may not be visited under any circumstances. Offensive material includes, but is not limited to, anything sexual, pornographic, or racially derogatory.
- Company equipment may not be used for any solicitations.
- All email messages and website or blog postings sent from Range computers or using Range internet access must have your name attached. Messages or blog postings may not be transmitted under an assumed name and you may not attempt to obscure the origin of any message.
- You are not permitted to retrieve or read any email messages that are not sent to you, unless you have been granted specific access to the recipient’s email by the recipient.
- Company equipment may not be used to send or receive copyrighted materials, trade secrets, proprietary financial information, or similar materials without prior authorization from an officer of the Company.
Electronic communications are not confidential, and you must ensure that confidential information is communicated appropriately. The use of pass codes for security does not guarantee confidentiality. All computer pass codes must be available to Company management at all times.
Information ownership – All messages (sent within the Company or outside the Company) composed, stored, sent, or received on Company equipment are the property of the Company. The Company reserves and intends to exercise the right to review, audit, intercept, access, and disclose all communications produced or transmitted on Company equipment. All communications, including text and images, can be disclosed to law enforcement or other third parties without prior consent of the sender or the receiver. No employee may personally benefit from Company-owned information.
E-mail – It is permissible to use the Company email system for incidental personal purposes. This does not include uses requiring substantial expenditures of the employee’s time, uses for profit or uses that would otherwise violate Company policy with regard to employee time commitments or Company equipment. Email usage may never be in conflict with the Code.
Proprietary Information – All confidential or proprietary information of Range must be protected at all times. Confidential information includes, for example, land and lease acquisition strategies, non-public drilling status or plans, completion and production plans and techniques, strategies for business development or growth, pricing, financial data, trade secrets and know-how, acquisition and divestiture opportunities, marketing and sales programs, research and development information and customer and supplier information, including pricing of goods and services bought by Range. Confidential information also includes information that suppliers and customers have entrusted to us under agreements that require Range to protect such information.
You must not disclose Range’s confidential or proprietary information to anyone within or outside of Range unless the recipient will generally need this information to carry out his or her assigned responsibilities as an employee of Range, or as an outsider who has been properly authorized by an officer of Range to receive such information. Inquiries from the press, media, investors or the public regarding Range should only be answered by the officers or employees designated to respond to such inquiries. The obligation not to disclose Range’s confidential or proprietary information continues after your employment with Range terminates unless otherwise specifically provided in writing.
Inside Information and Securities Trading – In the course of business activities, you may become aware of nonpublic information regarding the business, operations or securities of Range. The United States securities laws prohibit the trading of securities on the basis of such nonpublic information (often called “inside information”) if it is material. Such laws also prohibit you from telling others such information so that they can use material non-public information to buy or sell securities. Information is deemed to be material if an investor would consider it important in deciding whether to buy, sell, or hold securities. Information is considered to be nonpublic unless it has been adequately disclosed to the public and there has been sufficient time and opportunity for the market as a whole to assimilate the information. Generally, this means that the information has been available to the public for at least one full business day following the day it is released. You should never disclose information which may be material non-public information outside of Range. You should never trade any Range securities based on any information which may be material non-public information. If you have any question about whether you should trade Range securities while in the possession of material non-public information, check with the Human Resources Department or General Counsel before initiating any trades in any Range securities and insure you are in compliance with Range’s Insider Trading Policy.
Fair Competition – You should never use any illegal or unethical method to gather competitive information. Stealing or possessing proprietary information or trade secret information that was obtained without consent or inducing such disclosures by past or present employees of other companies is prohibited. Additionally, Range and its employees are required to comply with state and federal antitrust and unfair competition laws, as well as applicable antitrust and unfair competition laws of other countries in which Range does business. Anyone who questions whether a contemplated action may violate fair competition laws should speak to the General Counsel.
RESPONSIBILITY TO RANGE’S EMPLOYEES – EQUAL EMPLOYMENT OPPORTUNITY (EEO)
Range is an equal opportunity employer that maintains a policy of nondiscrimination with respect to all employees and applicants for employment. Employment decisions will be made without regard to race, color, sex (including pregnancy), religion, national origin, age, disability, military service, genetic information or any other status protected by applicable law. Employment decisions, subject to the business requirements of the Company, are based on the individual’s qualifications, merit, and performance.
In addition to compliance with federal equal employment laws, the Company complies with applicable state and local laws governing nondiscrimination. This policy applies to all terms and conditions of employment including, but not limited to, the following:
- Recruitment, hiring, placement, transfer, promotion, and demotion
- Training, development, and educational assistance programs
- Compensation and benefits
- Social and recreational programs
- Termination of employment
Your cooperation and support are required in order to maintain a working environment free from discrimination. If you feel as though you or any other employee have been subjected to any type of discrimination, report the incident(s) verbally or in writing to your supervisor, department head, a senior member of the Human Resources Department, or any officer of the Company as soon as possible but in any event within one week of the incident. A complaint should include the specific nature of the incident and the date(s) and place(s) such discrimination or discriminatory conduct took place, as well as the name(s) of the individuals involved.
Further, Range is committed to treating all employees and consultants with honesty, fairness and respect, and providing a safe and healthy work environment. Abusive, harassing or offensive conduct is unacceptable, whether verbal or physical. Additionally, Range is committed to providing all employees and others who are on Company property with a safe and secure environment. Accordingly, all personnel will comply with all health, environmental and other applicable regulatory statutes, safety laws and regulations as well as all Range policies governing health, environment and safety. All personnel are responsible for immediately reporting accidents, injuries and unsafe equipment, practices or conditions to a site supervisor, Human Resources, the Vice President for Environmental Safety or any other Range officer.
Range prohibits the possession or use of any and all weapons, including handguns, rifles and shotguns on Company property by any employee, customer, vendor or other visitor, whether licensed or unlicensed and whether concealed or visible. Company property includes all buildings, vehicles and parking lots. Any exceptions to this policy must be approved in writing by the employee’s supervisor and forwarded to the Human Resources Department. Items to be taken into consideration before an exception will be granted include whether or not the employee is certified in gun safety, has a valid permit for the firearm and whether there is a business need to have a firearm on Company property or in Company vehicles in the ordinary course of conducting business.
Employees are prohibited from consuming alcohol or being under the influence of alcohol while performing work on behalf of Range. Intoxication will not be permitted, and any employee who is intoxicated or who appears to be intoxicated will be subject to disciplinary action up to and including termination of employment.
You may occasionally find yourself in situations where alcoholic beverages are being consumed at an event where the Company is sponsoring your attendance. In such instances, you are not prohibited from consuming alcohol, but consumption must be in moderation so as not to reflect poorly on the Company’s reputation or to expose the Company to legal liability involving your safety or the safety of others. Alcohol consumption should not lead to impaired performance, inappropriate behavior, endangerment of the safety of any individual including you, or the violation of any applicable law. After consuming alcohol at any such function, do not drive a motor vehicle or operate any equipment or otherwise engage in any hazardous activity if alcohol consumption would impair your ability to safely perform those activities.
STANDARDS OF CONDUCT
Range is a professional, responsible and law-abiding business entity. Considerable time and expense are devoted to conducting business and maintaining our reputation in this regard. The behavior of every employee contributes to Range’s image and its reputation. No employee should take any action or engage in any conduct that would cause the Company or any of its employees embarrassment, which creates the appearance of impropriety or that otherwise causes or contributes to the Company or its employees being viewed negatively by the general public, our customers or our employees. Failure to adhere to these standards may result in disciplinary action, including termination of employment.
ACCURACY AND RETENTION OF BUSINESS RECORDS
Accounting standards and applicable laws require that transactions and events relating to Range operations, business activities, transactions and assets must be properly recorded in the books and accounts of Range and accurately reported in the applicable reports required by and filed with the Securities and Exchange Commission (the “SEC”) and other regulatory agencies. All officers of Range and all financial personnel shall make and retain books, records and accounts that, in reasonable detail, accurately, completely and objectively reflect all transactions and events, and conform both to required accounting principles and to Range’s systems of internal controls. No false or artificial entries may be made. No entry may be made or recorded in Range’s books and records or reported in any disclosure document that misrepresents, omits, hides or disguises the true nature of the event or transaction, and all material entries and reports must be made in a timely manner. All personnel are responsible for immediately reporting any concerns about Range’s financial records and its accounting, internal accounting controls and auditing procedures to a Company Officer or through Range’s anonymous reporting hotline.
Records Retention – Certain documents and other records of Range must be retained for various periods of time under legal and regulatory requirements. All records of Range should be maintained in accordance with Range’s Record Retention Policy, a copy of which is posted on the Company intranet site. You must not destroy, shred or alter records that are in any way related to a threatened, imminent or pending legal or administrative proceeding, litigation, audit or investigation. Employees who become aware of such a proceeding, litigation, audit or investigation must immediately contact the General Counsel. Employees should consult their supervisor or a Company officer for questions related to Range’s record retention guidelines or the propriety of disposing of a Range document or record. Any records which contain the personal information of any employee, customer or any other individual (including information such as social security numbers, driver’s license numbers, medical information, bank account numbers, credit card account numbers, dates of birth, home addresses or any other information that might be considered personal information) shall be disposed of in a secure manner which prevents the disclosure or dissemination of the personal information contained in such records.
Additional Requirements for Financial Reporting – In addition to their obligations to adhere to the requirements in the Code, Range’s officers including but not limited to, its principal executive officer, principal financial officer, controller or principal accounting officer, or persons performing similar functions, shall be responsible for the following:
- conducting themselves in an honest and ethical manner, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
- compiling full, fair, accurate, timely and understandable disclosure in the periodic reports of Range filed with or submitted to the SEC and in other public communications made by Range;
- complying with all applicable governmental laws, rules and regulations; and
- promptly reporting any violations of the Code.
Range’s management is charged by the Board of Directors with ensuring that the Code and Range’s corporate policies will govern all business activities of Range. Violations of the Code and Range’s other policies will subject an employee or officer to disciplinary action up to and including immediate termination of employment.
RECEIPT AND ACKNOWLEDGEMENT
A Receipt and Acknowledgement of the policy is required to be completed by all Range employees, consultants and directors acknowledging understanding of and compliance with the Code.
WAIVERS OF THE CODE
In certain extraordinary situations, a waiver of a provision of the Code may be granted. Contact the Human Resources Department or the General Counsel if you believe special circumstances warrant a waiver of any of the Code’s provisions. Any waiver of the Code for executive officers or directors may be made only by the Board or the Audit Committee of the Board. Any such waivers will be promptly disclosed as required by applicable laws and regulations.
VIOLATIONS OF THE CODE
Violations of the Code will not be tolerated. Reported violations or apparent violations will be reviewed by Range management and appropriate disciplinary action will be taken, up to and including termination of employment or service with Range.
WHERE TO GO WITH A QUESTION, CONCERN OR TO REPORT A VIOLATION
If you need an explanation or you want to know if a provision of the Code applies to a particular situation, the best place to start is with your supervisor or the Human Resources Department.
If you believe a fellow employee, consultant or director is violating the Code or otherwise acting in an illegal or unethical manner, you must report it. Doing so will not be considered an act of disloyalty, but an action which shows your sense of responsibility and fairness to Range’s business associates, shareholders and your fellow employees. You also help safeguard the reputation and the assets of Range.
Reporting violations of the Code is also necessary because in some cases failure to report an illegal act by another person is itself a criminal act for which you could be prosecuted. Violations may be reported to your supervisor, the Human Resources Department or an officer of Range. If you do not believe that the violation has been adequately addressed, report the violation to the General Counsel. Your report will be investigated with confidentiality and you will be protected from retaliation. Retaliation includes any adverse action or threat of adverse action taken or made because an employee has exercised or attempted to exercise any rights under applicable laws or under Range’s policies. Retaliation includes, but is not limited to, threats of or actual withholding or withdrawal of pay, promotion, demotion, discipline, firing, salary reduction, negative evaluation, and change in job assignment, lack of training or other employment opportunities. Retaliation can also include hostile behavior or attitudes toward an employee who complains. As long as an employee brings an allegation in good faith, Range will not tolerate retaliation in any form.
If you are concerned about confidentiality, you can anonymously make a report.
ANONYMOUS REPORTING PROCEDURES
Under federal law, each publicly traded Company is required to provide a means for anonymous reporting by its employees, external stakeholders and members of the public to inform management of perceived accounting or audit discrepancies. Range has contracted the services of an internet-based reporting system called Ethicspoint, which utilizes both the internet and a phone call-in process for reporting purposes. This system provides a means to protect anonymity in reporting discrepancies or concerns. All financial issues will be dealt with directly by the Audit Committee of the Board.
The Company has also chosen to use this system to further enhance our reporting of human resources issues such as harassment or violations of Range’s other policies. In certain circumstances, you may be asked to reveal your identity in order for a thorough investigation to be conducted. You are not required to reveal your identity if you wish to make an anonymous report – the choice to reveal your identity will be yours. Ethicspoint will manage the reporting system and they are contractually bound to ensure the system is completely confidential unless you choose to make your identity known
A goal in utilizing the Ethicspoint system is to provide the means to encourage employees to voice concerns involving any financial irregularities and Company policies as soon as an issue becomes apparent. If you feel you cannot speak directly with someone in the Company, Ethicspoint will be available as a fail-safe measure to provide an avenue for reporting your concerns.
Reports (other than those related to financial matters) will first be reviewed by the Human Resources Director in the Fort Worth office to determine the appropriate steps to deal with each inquiry. The Ethicspoint system is designed to exclude from the process anyone who may be involved directly with the issue reported so that a full and independent investigation can be conducted. (If the Human Resources Director is named in the report, Ethicspoint will direct the report to another officer of the Company.)
To file a report, you may access the Ethicspoint website at www.ethicspoint.com and click on “File a Report”. Or, you may call Ethicspoint’s toll-free hotline at 1-866-384-4277. A compliance specialist will assist you in entering your report into the Ethicspoint system.