UAL and its subsidiaries are committed to sound principles of corporate governance, which the company believes are critical to maintaining the trust of its investors and other key stakeholders. The board of directors of UAL directs the affairs of the corporation and is guided by several important documents that lay the foundation of the company’s corporate governance. The first is the Code of Conduct, which describes the ethical and legal responsibilities all company employees are expected to uphold and which provides basic guidelines for conducting business on behalf of UAL and its subsidiaries. The next is the Corporate Governance Guidelines, which outline the duties and responsibilities of the board of directors and which establish general governance policies and practices. Supplementing the Guidelines are the individual charters of the board committees, which articulate the specific charges of those committees.
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