Trustees of Union College in the Town Of

“THE FOLLOWING INDIVIDUALS LISTED IN PART VII, COLUMN A ALSO DEVOTE HOURS TO THE FOLLOWING RELATED ORGANIZATIONS: . RICHARD LEV, TRUSTEE - ALUMNI COUNCIL; 0.25 HOURS PER WEEK Part VII Officer Positions President Stephen Ainlay was on sabbatical from July 1, 2013 through 12/31/2013; in that interim, Therese McCarty assumed the position of Acting President and David Mitchell Hayes assumed the position of Vice President for Academic Affairs.”

“1. STEPHEN RITTERBUSH & KATHY MAGLIATO have a BUSINESS RELATIONSHIP 2. DAVID BREAZZANO & JAMES TAYLOR have a BUSINESS RELATIONSHIP FORM 990, PART VI, LINE 11b - FORM 990 REVIEW PROCESS The organization's Form 990 is prepared in conjunction with a nationally recognized accounting firm. Upon completion, the Form 990 is provided TO THE AUDIT COMMITTEE of the Board of Directors and a detailed walkthrough of its contents is provided at the Audit Committee's meeting. PRIOR TO electronic submission of the 990 to the Internal revenue service, THE AUDIT COMMITTEE CHAIR PROVIDES AN OVERVIEW OF THE REVIEW TO THE FULL BOARD OF TRUSTEES. IN ADDITION, A COPY OF THIS FORM 990 IS AVAILABLE FOR REVIEW IN THE COLLEGE'S FINANCE OFFICE. FORM 990, PART VI, LINE 12C - EXPLANATION OF MONITORING AND ENFORECEMENT OF CONFLICTS THE TRUSTEES OF UNION COLLEGE HAVE A WRITTEN CONFLICT OF INTEREST POLICY, WHICH REQUIRES OFFICERS, DIRECTORS, TRUSTEES, AND KEY EMPLOYEES TO ANNUALLY DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. QUESTIONNAIRES ARE SENT ANNUALLY TO MONITOR AND ENFORCE COMPLAINCE WITH THE POLICY. THE RESPONSES TO THE QUESTIONNAIRES ARE REVIEWED BY BOTH THE PRESIDENT'S OFFICE AND FINANCE FOR POTENTIAL CONFLICTS OF INTEREST THAT REQUIRE DISCLOSURE. IF A CONFLICT OF INTEREST IS NOTED, A BOARD MEMBER WOULD HAVE TO RECUSE HIMSELF FROM VOTING, IF SO REQUIRED. FORM 990, PART VI, LINE 15A - COMPENSATION REVIEW & APPROVAL PROCESS - President The College undertakes a thorough and rigorous process to determine the President's compensation. THe College has established an EXECUTIVE COMPENSATION COMMITTEE that ACTs AS A COMMITTEE OF THE BOARD. THe executive compensation committee is comprised of THE CHAIRMAN, VICE CHAIRMAN, SECRETARY, AND GENERAL COUNSEL OF THE BOARD OF TRUSTEES. THE CHAIR OF THE BOARD SERVES AS THE CHAIR OF THE COMMITTEE. THE COMMITTEE ACTS AS THE AUTHORIZED BODY UNDER TREASURY REG. 53.4958-6, RESPONSIBLE FOR APPROVING THE COMPENSATION ARRANGEMENTS OF THE PRESIDENT. THE COMMITTEE will: A. REVIEW GOALS FOR THE UPCOMING YEAR AND ACCOMPLISHMENTS FOR THE YEAR JUST ENDED. B. OBTAIN APPROPRIATE ANALYSIS AND STUDIES FOR USE IN EVALUATING THE COMPENSATION OF THE PRESIDENT. C. DOCUMENT ITS DELIBERATIONS AND DECISION ESTABLISHING THE PRESIDENT'S COMPENSATION. D. REPORT TO THE EXECUTIVE COMMITTEE OF THE BOARD ANNUALLY ITS FINDINGS AND ACTIONS. FORM 990, PART VI, LINE 15B - COMPENSATION REVIEW & APPROVAL PROCESS - Officers & Key Employees The College undertakes a similarly detailed process to determine the compensation of the College's officers and key employees (as reported on Part VII of the Form 990) A. The Compensation Committee obtains appropriate analysis and studies from the administration to use as an aid in evaluating the compensation recommendations of the President for these employees. B. The Compensation Committee deliberates on, and approves, all compensation at a meeting and the decisions are documented in committee minutes. FORM 990, PART VI, LINE 19 - availability of documents to the public THE TRUSTEES OF UNION COLLEGE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST and at management's discretion. THE FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE COLLEGE'S WEBSITE WWW.UNION.EDU and at management's discretion.”

“ACTUARIAL ADJUSTMENT $2,802,443 ATHLETIC FUNDRAISING EXPENSE $65,828 ATHLETIC SPONSORSHIP AGREEMENT ($7,250) Below-the Line Non-Operating Revenue ($242,509) ------------------ TOTAL $2,618,512”