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src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/spacer.gif"></td><td style="margin:0px;" width="401" valign="top" id="pageContent"> <div style="display:block; width:401px; height:19px; padding:0px; background-image:url(/web/20110105120151im_/http://www.timewarner.com/corp/images/misc_blue_bar2.gif); text-align:right;"> <table align="right" cellpadding="0" cellspacing="0" border="0"> <tr> <td style="padding:3px 3px 2px 0px;"><img alt="" border="0" height="13" width="11" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/icn_print.gif"></td><td nowrap="nowrap" style="padding:3px 5px 3px 0px;"><a style="color:#ffffff; font-size:10px;" target="_new" href="governance_conduct_pf.html">Printer-Friendly Page</a></td> </tr> </table> </div> <div style="display:block; width:400px; margin:10px 0px 10px 0px"> <img alt="Corporate Governance" border="0" vspace="0" hspace="0" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/corp_governance/governance_conduct.page/header.gif"></div> <img style="margin:0px 0px 10px 0px" height="1" width="400" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/grey1x1.gif"><div style="width:385px; margin:0px 0px 0px 15px;"> <div class="title">Codes of Conduct</div> <br> <p> <strong>Standards of Business Conduct</strong> <br>In April 2010, the company's Board of Directors revised its Standards of Business Conduct, which applies to all corporate employees of Time Warner Inc. This code serves as a model for similar codes of conduct that have been adopted at each of the company's businesses. </p> <p> <a href="pdf/SBC_External_042910.pdf">Download a PDF of the Standards of Business Conduct <img alt="Download a PDF of the Standards of Business Conduct " border="0" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/icn_pdf.gif"></a> </p> <p> <strong>Code of Ethics for Senior Executive and Senior Financial Officers</strong> <br>In addition to the Standards of Business Conduct, in January 2004, the Board adopted a supplemental "Code of Ethics for Senior Executive and Senior Financial Officers," which applies to senior executives and financial officers at Time Warner Inc. and each of its businesses.</p> <p> <a href="pdf/Code-of-Ethics_Financial-Officers.pdf">Download a PDF of the Code of Ethics for Senior Executive and Senior Financial Officers <img alt="Download a PDF of the Code of Ethics for Senior Executive and Senior Financial Officers " border="0" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/icn_pdf.gif"></a> </p> <p> <strong>Guidelines for Non-Employee Directors</strong> <br>In July 2010, the Board of Directors adopted a revised set of Guidelines for Non-Employee Directors, which serves as the code of conduct for the company's outside Directors. The Board originally adopted the Guidelines in May 2002. </p> <p> <a href="pdf/Guidelines_Non-Employee_Directors_2010_07_28.pdf">Download a PDF of the Guidelines for Non-Employee Directors <img alt="Download a PDF of the Guidelines for Non-Employee Directors " border="0" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/icn_pdf.gif"></a> </p> <p> <strong>Policy and Procedures Governing Related Person Transactions</strong> <br>In February 2010, the Board of Directors adopted a revised Policy and Procedures Governing Related Person Transactions, setting forth the process to be used by the Company in reviewing certain transactions with its Directors, Executives and designated other entities in order to help avoid potential conflicts of interest and improper benefits to related parties. The Board originally adopted the Policy and Procedures in February 2007. </p> <p> <a href="pdf/Governing_Related_Person_Transactions_2010_02_18.pdf">Download a PDF of the Policy and Procedures Governing Related Person Transactions<img alt="Download a PDF of the Policy and Procedures Governing Related Person Transactions" border="0" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/icn_pdf.gif"></a> </p> <p> <a target="_blank" href="https://web.archive.org/web/20110105120151/http://www.adobe.com/products/acrobat/readstep2.html">You need Adobe Acrobat to view these files.<img alt="You need Adobe Acrobat to view these files." border="0" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/icn_pdf.gif"></a> </p> <p> <br> </p> </div> </td><td width="5"><img alt="" border="0" vspace="0" hspace="0" height="1" width="5" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/spacer.gif"></td><td width="193" class="rightNav" valign="top"> <div class="rnImg"> <img src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/leading.gif" alt="" border="0"></div> <p>Strong executive leadership ensures we stay at the forefront of the industry.</p> <p> <a href="/web/20110105120151/http://www.timewarner.com/corp/management/executives_by_business/index.html"> Read More <img src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/misc_arrow.gif" alt="" border="0"> </a> </p> <br> </td> </tr> </table> <table id="rightNav" cellspacing="0" cellpadding="0" border="0" width="740"> <tr> <td class="rightNav"><img border="0" height="1" width="190" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/spacer.gif"></td><td style="padding-bottom: 5px" colspan="5" class="rightNav"><img border="0" height="1" width="385" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/spacer.gif"></td><td class="rightNav"><img border="0" height="1" width="160" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/spacer.gif"></td> </tr> </table> <table id="footer" cellspacing="0" cellpadding="0" border="0" width="740"> <tr> <td style="padding-bottom: 5px" colspan="5" align="right"> last updated: July 28, 2010</td> </tr> <tr> <td colspan="5"><img style="margin-bottom:4px;" alt="" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/misc_gradbar.gif"></td> </tr> </table> <table align="left" id="footer" cellspacing="0" cellpadding="0" border="0"> <tr> <td style="padding:2px 3px 0px 15px"><a onmouseout="ro.setOff('one')" onmouseover="ro.setOn('one')" href="/web/20110105120151/http://www.timewarner.com/corp/legal_and_privacy.html"><img onload="ro.add(this)" border="0" alt="" name="one" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/misc_arrow2.gif"></a></td><td nowrap="nowrap"><a onmouseout="ro.setOff('one')" onmouseover="ro.setOn('one')" href="/web/20110105120151/http://www.timewarner.com/corp/legal_and_privacy.html">legal & privacy</a></td><td style="padding:2px 3px 0px 8px"><a onmouseout="ro.setOff('three')" onmouseover="ro.setOn('three')" href="/web/20110105120151/http://www.timewarner.com/corp/caution.html"><img onload="ro.add(this)" name="three" alt="" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/misc_arrow2.gif"></a></td><td nowrap="nowrap"><a onmouseout="ro.setOff('three')" onmouseover="ro.setOn('three')" href="/web/20110105120151/http://www.timewarner.com/corp/caution.html">caution concerning forward-looking statements</a></td><td style="padding-left:5px; font-size:10px;" align="right" nowrap="nowrap"><img alt="" src="https://web.archive.org/web/20110105120151im_/http://img.timeinc.net/corp/images/misc_bar2.gif">© Time Warner 2010. 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