The Board of Directors of Sohu sets high standards for Sohu's employees, officers and directors. Implicit in this philosophy is the importance of sound corporate governance. Sohu’s Board of Directors considers it to be its duty to serve as a prudent fiduciary for Sohu and its shareholders and to oversee the management of Sohu's business. To fulfill this responsibility, the Board of Directors has adopted the standards for the Board’s and Sohu’s management’s and employees’ conduct that are set forth in the attached code of conduct and corporate governance charters. The code of conduct and each of the charters may be revised from time to time as the Board of Directors deems to be in the best interest of Sohu and its shareholders or as may be required by applicable law or the rules of The NASDAQ Stock Market LLC.