UAL CORP /DE/
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<div align=right>Exhibit 10.1</div>

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<p><b>Summary Description of Compensation and Benefits for Directors</b></center>

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<dir>1. <b>Cash Compensation of UAL Non-employee Directors</b>. Non-employee
directors receive an $18,000 annual retainer, $900 per meeting attended,
and $2,700 per year for chairing certain Board committees. Cash compensation
may also be taken in stock, and all cash and compensation may be deferred
for tax purposes (see item 4 below).
<p>2. <b>Flight Benefits for Directors</b>. Generally, directors, their
spouses and their dependent children are entitled to complimentary positive
space travel on United Airlines and United Express for pleasure or UAL
business travel, and will be reimbursed annually for the income tax liability
incurred in using this privilege.
<p>3. <b>Complimentary Cargo Carriage Policy for Directors</b>. Directors
receive complimentary cargo carriage (excludes ground transportation) for
personal goods on United Airlines, for up to 2,500 pounds per year, and
are reimbursed for the related income tax liability.
<p>4. <b>Stock-Based Compensation of UAL Non-employee Directors</b>. Non-employee
directors receive 400 shares of UAL common stock on the first business
day of January each year, which they are asked to hold while they serve
on the Board. Additionally, non-employee directors will be allocated 189
Deferred Stock Units on December 31 of each year. These shares are issued
under the UAL Corporation 1995 Directors Plan. This Plan also permits director
cash compensation to be taken in stock, as well as the deferral of receipt
of cash or stock compensation for tax purposes.
<p>5. <b>Directors' and Officers' Liability Insurance and Indemnification</b>.
The Company has a policy which provides liability insurance for directors
and officers of UAL and its subsidiaries.
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