5.1 Employee Expense Policy

Policy Brief & Purpose

Our Employee Expense company policy outlines how Sord reimburses employees for work-related expenses. We’ll define “work-related expenses” and set a procedure to authorize expenditure.

Scope

This policy applies to all our employees that need to spend money for work-related activities.

Policy elements

Employee expenses fall under two categories:

• Expenses that are paid directly by our company on behalf of employees.

• Expenses that are paid by our employees and are reimbursable.

Sord will reimburse all reasonable business expenses, after they are approved, in part or in full as the case may be.

Travel Expenses

Travel expenses include any kind of transportation and accommodation expenses that you incur when going on a business trip. Expenses related to this category that may be fully or partly reimbursable include:

• Accommodation

• Legal document expenses (e.g. Visa)

• Air, train, ship or other transportation fares

• Necessary medical expenses (e.g. vaccinations)

• Local transportation during trips (taxi fares, rental cars etc.)

• Other minor or per diem expenses that have been approved by an employee’s manager (e.g. meals, business material)

Medical care fees after travel-related accidents may be covered by workers compensation insurance. If not, we may reimburse you for your medical expenses, if appropriate.

Minimizing expenses

We want to avoid overspending or unnecessary costs. We may contract with hotels and agencies to get the best possible prices. We’ll also aim for the cheapest option when we can. For example, we prefer booking plane tickets in economy class, unless there is reason for upgraded travel.

Non-reimbursable expenses

We won’t reimburse the following:

• Un-authorized service upgrade (e.g. business class or hotel rooms)

• Personal services (massages, beauty treatments etc.)

• Personal purchases (gifts, clothes etc.)

• Lost personal property (e.g. luggage)

This list is not exhaustive. Please ask Jonathan Gautsch about reimbursable expenses before you go on a business trip.

What are work-related expenses?

This category includes expenses that are related to an employee either in the form of a benefit (e.g. business phone) or entertainment expenses that may occur in a business setting (e.g. professional dinners with clients or colleagues.) These expenses may be capped and your manager should approve them. If you spend more than the approved amount, you must cover the extra cost yourself.

We won’t reimburse the following work expenses:

• Fines incurred while driving a company vehicle

• Non-business subscriptions/training

• Personal trips

This list is not exhaustive. Please ask Jonathan Gautsch about reimbursable expenses before you submit a claim.

Procedure

When you plan to go on work-related trips, your manager will typically arrange for most of your accommodation and transportation costs and document these expenses. You need to:

• Document any expenses that our company hasn’t directly arranged for (e.g. taxi fares.) Please ask for bills and receipts whenever you can. You might also receive a per diem sum to cover other necessary travel expenses.

• Submit your reimbursement claim or submit an expense report with all necessary documentation. Please submit your claim/report within three months after your trip.

Your manager or HR are responsible for approving reimbursement claims. If your manager approves your expenses, you will receive your reimbursement within two pay periods.

When you incur work-related expenses, you should:

• Ask for your manager’s approval.

• Submit a reimbursement claim. Please submit receipts and bills for business dinners and transportation within one month .

We’ll investigate any excessive expenses. In cases of consistent falsified or exaggerated claims, we may take disciplinary action.

Exceptions

Sord business needs, local situations, laws and regulations may occasionally call for an exception to this policy or any other Sord policy. If an exception is needed, Sord management will determine an acceptable alternative approach.

Enforcement

Any violation of this policy or any other Sord policy or procedure may result in disciplinary action, up to and including termination of employment. Sord reserves the right to notify the appropriate law enforcement authorities of any unlawful activity and to cooperate in any investigation of such activity. Sord does not consider conduct in violation of this policy to be within an employee’s or contractor’s course and scope of work.

Any personnel who is requested to undertake an activity that he or she believes is in violation of this policy must provide a written or verbal complaint to his or her manager or any other manager of Sord as soon as possible.

The disciplinary process should also be used as a deterrent to prevent employees and contractors in violating organizational security policies and procedures, and any other security breaches.

Responsibility, Review, and Audit

Sord reviews and updates its security policies and plans to maintain organizational security objectives and meet regulatory requirements at least annually. The results are shared with appropriate parties internally and findings are tracked to resolution. Any changes are communicated across the organization.

This document is maintained by Jonathan Gautsch.

This document was last updated on 03/27/2024.