This Code of Conduct, Freddie Mac Corporate Policy #1-140, has been approved by the Freddie Mac Board of Directors and has an effective date of February 25, 2008. It contains information pertaining to certain Freddie Mac policies and practices. Every Freddie Mac employee is expected to read this Code carefully as it is a valuable reference for understanding your job responsibilities. Not all Company policies and procedures are set forth in this Code of Conduct. If you have any questions or concerns about this Code of Conduct, please consult your manager or the Corporate Compliance Division.
This Code does not alter the at-will employment relationship between Freddie Mac and an employee. Nothing contained in this Code of Conduct shall be construed as constituting a contract or as creating any contractual obligations on the part of the Company or any employee; nor does anything in this Code expand or increase your legal rights or the Company’s legal obligations.
A waiver of any standard or requirement of the Code may be granted only by the Board of Directors. Waivers will be disclosed to the Company’s shareholders as required by applicable law. All employees should be aware that waivers are disfavored and in no event will the Board of Directors grant a waiver in the absence of good cause based on exceptional circumstances.
Over time, it may be necessary to amend this Code. Any amendments will be made in accordance with law, and current versions of the Code can be found on Freddie Mac’s internal and external Web sites.
Matters relating to the interpretation of this Code and your agreement to the Code, or to the interpretation of any Corporate Policy or Procedure, will be governed by the laws of the Commonwealth of Virginia, without regard to its conflict of law provisions.
This Code of Conduct is the property of Freddie Mac and all rights are reserved.