Hubbell Policies

EMPLOYEE LOANS POLICY

English

Owner : Vice President, Controller

Last Review: 2015.09.04

FIN – 22

Department: Finance

POLICY This policy prohibits extending loans to employees. If extenuating circumstances arise for which an employee requires a loan from the company it must be approved by both the group finance Vice President and the group Human Resources Vice President. SCOPE This policy applies to all Hubbell business units. This policy does not apply to loans related to relocation. Any relocation loan is at the discretion of the Corporate Vice President of Human Resources. PURPOSE The objective of this policy is to ensure that there are no unauthorized loans to employees which could impact the company’s consolidated financial statements, statutory and domestic taxable reporting. PROCEDURE Any extenuating circumstance that require an employee to obtain a loan from the company require approval by both the group finance Vice President and the group Human Resources Vice President prior to any loan being extended. ADMINISTRATION Roles and Responsibilities. None

Monitoring, Evaluation and Review. None

Exceptions. None

ACCOUNTING AND DISCLOSURE None REPORTING None DEFINITIONS

Loan shall mean for purposes of this policy, is an agreement between Hubbell and an employee where Hubbell or one of its subsidiaries extends a sum of money, with an agreed upon repayment period, to an employee. RELATED DOCUMENTS (Policies, Guidelines, Standards) None

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