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agents engaged in the award or administration of third party contracts or subagreements <br />financed with Federal/State assistance. The Contractor agrees that its code or standards of <br />conduct shall specify that its officers, employees, board members, or agents may neither solicit <br />nor accept gratuities, favors, or anything of monetary value from any present or potential third <br />party contractor at any tier or subrecipient at any tier or agent thereof. Such a conflict would <br />arise when an employee, officer, board member, or agent, including any member of his or her <br />immediate family, partner, or organization that employs, or intends to employ, any of the parties <br />listed herein has a financial interest in the firm selected for award. The Contractor may set de <br />minimis rules where the financial interest is not substantial, or the gift is an unsolicited item of <br />nominal intrinsic value. The Contractor agrees that its code or standards shall also prohibit the <br />.its officers, employees, board members, or agents from using their respective positions in a <br />manner that presents a real or apparent personal or organizational conflict of interest or <br />personal gain. As permitted by State or local law or regulations, the Contractor agrees that its <br />code or standards of conduct shall include penalties, sanctions, or other disciplinary actions for <br />violations by its officers, employees, board members, or their agents, or its third party <br />contractors or subrecipients or their agents. <br />(1) Personal Conflicts of Interest. The Contractor agrees that its code or <br />standards of conduct shall prohibit the Contractor's employees, officers, board members, or <br />agents from participating in the selection, award, or administration of any third party contract or <br />subagreement supported by Federal/State assistance if a real or apparent conflict of interest <br />would be involved. Such a conflict would arise when an employee, officer, board member, or <br />agent, including any member of his or her immediate family, partner, or organization that <br />employs, or intends to employ, any of the parties listed herein has a financial interest in the firm <br />selected for award. <br />(2) Organizational Conflicts of Interest. The Contractor agrees that its <br />code or standards of conduct shall include procedures for identifying and preventing real and <br />Project 07-US-056 Page 9 of 49 <br />Orange County <br />