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Lasertel’s Mission

Our company encourages diversity, shared values and mutual support while providing innovative photonics solutions. Lasertel’s customer focus is unparalleled as we continually seek to develop long-term partnerships based on trust, perseverance and manufacturing execution.

Lasertel is a subsidiary of Presstek, Inc.(Nasdaq:PRST), a leading manufacturer and marketer of environmentally responsible high tech digital imaging solutions to the graphic arts and laser imaging markets.

Presstek, Inc. – code of business conduct and ethics
Presstek, Inc. is committed to conducting its business ethically, without conflicts of interest and in compliance with applicable governmental rules and regulations. It has adopted this Code of Business Conduct and Ethics to define a minimum set of ethical standards for all of its directors, officers and employees, as well as the directors, officers and employees of any of its subsidiaries. This policy does not list each and every situation in which the code will apply. The Company expects its directors, officers and employees to use common sense and conformity with the law in determining what constitutes honest and ethical conduct in any particular situation that is not specifically listed below, and the Company expects its directors, officers and employees to comply with the spirit and intent of applicable rules and regulations, as well as this Code and the spirit thereof.

This Code of Business Conduct and Ethics is neither a contract nor a comprehensive manual that covers every situation directors, officers, or employees might encounter. Neither this Code nor any other Company policy, procedure, guideline or practice creates any contractual rights. If you have any questions about the provisions of this Code, or about how you should conduct yourself in a particular situation, you should make your question(s) known and seek the advice of your department head or the Company's internal or outside legal counsel.

The Code is intended to deter wrongdoing and to promote:

  1. honest and ethical conduct by the directors, officers, and employees of the Company, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;
  2. full, fair, accurate, timely, and understandable disclosure in reports and documents that the Company files with, or submits to, the United States Securities and Exchange Commission and in other public communications made by the Company;
  3. compliance with all other applicable governmental laws, rules, and regulations;
    the prompt internal reporting of any violations of this Code to a supervisor or department head, or any member of the Audit or Nominating and Corporate Governance Committees, and/or internal or outside Company legal counsel; and,
  4. accountability for adherence to the Code.

SCOPE OF THE CODE
This Code applies to all directors, officers, and employees of the Company and its subsidiaries.

CONFLICTS OF INTEREST
This Code does not prevent directors, officers, and employees of the Company from taking part in any legitimate financial, business, or other activities outside their jobs. Those activities, however, must be free of conflicts with the individual's responsibilities to Presstek. A "conflict of interest" may occur when an individual's private interest interferes in any way - or even appears to interfere - with the interests of the Company as a whole. A conflict situation can arise when a director, officer, or employee takes action or has interests that may make it difficult to perform his or her duties to the Company objectively and effectively. Conflicts of interest also arise when a director, officer, employee, or a member of his or her family, receives improper personal benefits as a result of his or her position in the Company.

Every director, officer, and employee must disclose any matter that he or she believes might raise doubt regarding his or her ability to act objectively and in the Company's best interest, or of any material transaction or relationship (such as through outside activities or financial interests) that reasonably could be expected to give rise to a conflict of interest or appearance of conflict. Directors and officers should make such disclosures to the Nominating and Corporate Governance Committee and/or Audit Committee of the Board of Directors. Employees should make such disclosures to an appropriate supervisor, department head and/or to the Company's internal legal counsel. All supervisors and department heads who receive reports of potential conflicts of interest are required to immediately forward such reports to the Company's internal legal counsel.

The following is a partial list of examples of situations involving conflicts of interest that are prohibited by the Company:

  • loans to, or guarantees of obligations of, Presstek's directors, officers or employees;
  • employment by a competitor, regardless of the nature of the employment, while simultaneously being employed by Presstek;
  • giving Company business to another entity in which an employee or close family member has a substantial ownership or management interest;
  • owning, or owning a substantial interest in, an entity which is a competitor or customer of, or a supplier to, Presstek;
  • acting independently as a consultant to a Company competitor, customer or supplier;
  • using Company assets, intellectual property, or other resources for personal gain;
  • accepting anything of more than nominal value - such as gifts, discounts, or compensation - from an individual or entity that does or seeks to do business with Presstek.

Presstek directors must obtain approval from the Board of Directors before accepting any position as an officer or director of any outside business concern or entity that has a business relationship with Presstek, or that now is or in the reasonably foreseeable future could become a competitor of Presstek.

Presstek officers and employees must obtain necessary approvals before accepting any position as an officer or director of an outside business concern. Officers and employees must also obtain approval before accepting a board position with a not-for-profit entity where there may be a Company business relationship with the entity or an expectation of financial or other support from the Company. Presstek officers must get such approvals from the Nominating and Corporate Governance Committee and Audit Committee. In the case of Presstek employees who are neither directors nor officers of Presstek, such approvals must come from the Company's internal legal counsel.

CORPORATE OPPORTUNITIES
Directors, officers, and employees owe a duty to the Company to advance its legitimate interests when the opportunity to do so arises. Presstek directors, officers, and employees are prohibited from:
taking for themselves personally corporate opportunities that are discovered through the use of Company property, information or position, without first offering such opportunities to the Company;
using corporate property, information, or position for personal gain; and
competing with the Company.
Non-employee directors who seek to conduct outside business activities involving an entity that has a business relationship with Presstek, or that now is or in the reasonably foreseeable future could become a competitor of Presstek, must obtain approval from the Nominating and Corporate Governance Committee and the Audit Committee before conducting such activities. If approved by the Committees, such activities shall be deemed to be in competition with the Company, even if the entity involved is in the same industry as Presstek.

CONFIDENTIALITY
Directors, officers, and employees are required to maintain the confidentiality of sensitive business, technical, or other information entrusted to them by the Company, its customers or business partners, except when disclosure is authorized or legally mandated. Confidential information includes all non?public information that might be of use to competitors, or harmful to the Company, its customers or business partners if disclosed.

FAIR DEALING
Each director, officer, and employee should act fairly, honestly, and in good faith in any dealings on behalf of the Company with any of its customers, suppliers, competitors, employees, and all others. The taking of unfair advantage of anyone through manipulation, concealment, abuse of privileged information, misrepresentation of material facts, or any other unfair-dealing practice is prohibited.

PROTECTION AND PROPER USE OF COMPANY ASSETS
The improper disclosure, theft, or misuse of the Company's intellectual and physical property is prohibited. Unauthorized or improper disclosure, theft, or misuse of any Company property, including the Company's intellectual property, can result in disciplinary measures, up to and including termination.

Presstek assets should be used only for the Company's legitimate business purposes. Employees are advised that the content of Presstek's electronic communication infrastructure (e-mail, voicemail, Internet access) is not private and can be accessed and monitored at any time by the Company without notice.

COMPLIANCE WITH ALL LAWS, RULES AND REGULATIONS
Presstek is committed to compliance with all laws, rules, and regulations. The Company therefore maintains a comprehensive compliance program designed to ensure that all directors, officers, and employees are informed and continuously mindful of the laws governing their conduct. Presstek also maintains separate, detailed policies regarding such matters as insider trading, corporate communications, and sexual harassment. The compliance program and these separate policies are consistent in all respects with the spirit and the letter of this Code.

Each and every director, officer, and employee is required to act within the bounds of the law. Questions or concerns about compliance issues can and should be raised by any of the means indicated under "Enforcement Mechanisms" below.

FULL, FAIR, ACCURATE, TIMELY AND UNDERSTANDABLE DISCLOSURES
Presstek strives to maintain the highest standards to ensure that all business records and financial reports are accurate, complete, understandable, and contain no false or misleading information. The Company is committed to complying with all laws requiring the fair and timely disclosure of all material information, and is committed to maintaining the accuracy of all publicly disseminated information. In carrying out this commitment, Presstek maintains internal controls and procedures designed to provide reasonable assurance of achieving the following objectives:

  • efficacy and efficiency of operations;
  • safeguarding and proper management of the Company's assets;
  • reliability of financial reporting that is in compliance with generally accepted accounting principles in the United States; and
  • compliance with all applicable laws and regulations, including, without limitation, the Company's responsibility to maintain disclosure controls and procedures intended to ensure that financial and non-financial information is collected, analyzed, and timely reported in full compliance with the law.

Compliance with these controls and procedures is of paramount importance. If anyone in the Company believes that the Company's books or records are not being maintained, or that its financial condition or results of operations are not being disclosed, in accordance with these controls and procedures, that person should report the matter directly by any of the means indicated below.

ENFORCEMENT MECHANISMS
Any director, officer, or employee who has knowledge of a potential or suspected violation of the Company's Code of Business Conduct and Ethics has an obligation to report all relevant information to one of the sources listed below. In addition, questions or concerns can be addressed to:

  • a supervisor or department head;
  • any member of the Audit Committee or Nominating and Corporate Governance Committee; and/or
  • internal or outside Company legal counsel.

Generally, a supervisor or department head will be in the best position to resolve the issue quickly. However, a conduct or legal concern can be raised with any one of the other contacts listed above, in addition to - or instead of - a supervisor or department head. Such concern may be made confidentially or anonymously and may be submitted by e-mail, in writing or by telephone to addresses and a telephone number that will be published on the Company's website. The Company and its employees are prohibited from retaliating or taking any adverse action against anyone for raising or helping to resolve an integrity concern.

POLICY AGAINST RETALIATION
Directors, officers, or employees who report suspected violations or voice other concerns are assured that the Company will not tolerate any retaliation for reports made in good faith. The Company prohibits any director, officer, or employee from retaliating or taking adverse action of any kind against anyone for raising or helping to resolve a conduct concern. Any individual who is found to have engaged in retaliation against a Company director, officer, or employee for raising, in good faith, a conduct concern or for participating in the investigation of such a concern may be subject to discipline, up to and including immediate termination. If any individual believes he or she has been subjected to such retaliation, that individual is encouraged to report the situation as soon as possible to the Nominating and Corporate Governance Committee, the Audit Committee or to internal legal counsel.

PENALTIES FOR VIOLATIONS
Directors, officers, and employees who violate the Code are subject to disciplinary action up to and including immediate termination. The following are examples of conduct that may result in discipline:

  • retaliation against any person within the Company for reporting a conduct concern;
  • any action that violates the Code or any law, rule, or regulation;
  • requesting others to violate the Code or any law, rule, or regulation;
  • failure to promptly raise a known or suspected violation of the Code or any law, rule, or regulation;
  • failure to cooperate in internal investigations of possible violations of the Code or any law, rule, or regulation; and
  • failure to demonstrate the leadership and diligence needed to foster compliance with the Code and applicable laws, rules, and regulations.

The above list of examples should not be construed in any way as an exhaustive list of the type of conduct that violates or potentially violates the Code. Rather, the list is meant to be illustrative only, and the Company, in its sole discretion, will evaluate suspected violations on a case-by-case basis.

Reports of suspected violations will be promptly investigated internally, and appropriate sanctions will be imposed for violations.

WAIVER
Only the Board of Directors may grant a waiver of any provision of this Code to a director or executive officer. Any request for such a waiver should be submitted to the Nominating and Corporate Governance Committee or Audit Committee in writing for its consideration. The Board of Directors will promptly cause the Company to disclose to investors any changes in or waivers of the Code granted to directors or executive officers. Any such disclosure shall be in the form prescribed by the SEC.