Define: Standard of Conduct

How is Standard of Conduct defined in a legal contract?

• Standard of Conduct means the conditions required for an individual’s behaviour to be indemnified against losses associated with claims. It requires the person to act in good faith and believe that their actions are in the best interests of the organization. In criminal proceedings, the person should have no reasonable cause to believe their conduct was unlawful. Other applicable standards may also apply if they are later incorporated under relevant laws.
  Seen in 141 SEC filings
• Standard of Conduct means an individual carries out their duties based on known facts, believing they are acting in the best interests of the organization or committee. If any criminal proceedings are involved, they should not reasonably believe their conduct was unlawful. The termination of proceedings does not create a presumption that this standard was not met.
  Seen in 29 SEC filings
• Standard of Conduct means an individual acted in good faith and reasonably believed that their actions were beneficial to the organization. Any termination of a claim does not create a presumption that the standard has not been met.
  Seen in 13 SEC filings
• Standard of Conduct means an individual has acted in good faith and in a manner reasonably believed to be favorable to the organization. In any criminal proceedings, there should be no reasonable cause to believe the behavior was unlawful. If more favorable standards are later incorporated into the law, they will apply.
  Seen in 8 SEC filings
• Standard of Conduct means an individual has acted in good faith and in a way that they believe was in the best interests of the organization. This applies both in their official capacity and other actions, unless they reasonably believed to be against the organization’s interests.
  Seen in 6 SEC filings.

Please note, I have omitted some definitions that did not adhere to the criteria.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for ‘Definitions of standard of conduct’ yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Standard of Conduct means acting in good faith and in the best interests of [organization], without believing the actions to be unlawful.

Relevant Contract Types

• Employment Contracts
• Independent Contractor Agreements
• Non-Disclosure Agreements
• Partnership Agreements
• Shareholder Agreement

Relevant Circumstances

• Hiring of new employees
• Forming new partnerships
• Signing confidentiality agreements
• Changes to board of directors

Relevant Sectors

• Financial Services
• Healthcare
• Real Estate
• Technology
• Manufacturing

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