• Corporate Approval

  • It is the policy of Pepco Holdings, Inc., and its affiliates (collectively, "PHI" or the "Company") that the commitment and expenditure of corporate funds be for legitimate business purposes only and that such commitment and expenditure of corporate funds be made by authorized management individuals. Approval authority is generally delegated within the Company based on management level and area of responsibility. Individuals to whom approval authority is granted may only exercise such authority within specified dollar limits and only for goods and services that fall within the scope of their job duties and responsibilities. The commitment or expenditure of corporate funds for any other purpose or by an unauthorized individual is strictly prohibited and could result in disciplinary action up to and including termination. Individuals delegating approval authority have responsibility for the appropriate use of corporate funds by the persons to whom they have delegated authority and for overseeing any further delegation of authority.