**CLEARONE      COMMUNICATIONS, INC.**

**CODE      OF ETHICS FOR DIRECTORS, OFFICERS AND EMPLOYEES**

| 1.   | The                directors, officers and employees are responsible for full, fair,                accurate, timely and understandable disclosure in the periodic reports                required to be filed by the Company with the SEC. It is the responsibility                of all directors, officers and employees to promptly bring to the                attention of the Board of Directors any material information of which                they                may become aware that affects the disclosures made by the Company                in its                public filings. |
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| 2.   | The                directors, officers and employees shall promptly bring to the attention                of                the Board of Directors any information they may have concerning (a)                significant deficiencies in the design or operation of internal controls                which could adversely affect the Company’s ability to record, process,                summarize and report financial data or (b) any fraud, whether or                not                material, that involves management or other employees who have a                significant role in the Company’s financial reporting, disclosures or                internal controls. |
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| 3.   | The                directors, officers and employees shall promptly bring to the attention                of                the CEO and to the Board of Directors any information they may have                concerning any violation of the Policies and Procedures, including                any                actual or apparent conflicts of interest between personal and professional                relationships, involving any management or other employees who have                a                significant role in the Company’s financial reporting, disclosures or                internal controls. |
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| 4.   | The                directors, officers and employees shall promptly bring to the attention                of                the CEO and to the Board of Directors any information they may have                concerning evidence of a material violation of the securities or                other                laws, rules or regulations applicable to the Company and the operation                of                its business, by the Company or any agent thereof, or of violation                of the                Policies and Procedures or of this Code of                Ethics. |
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| 5.   | The                Board of Directors shall determine, or designate appropriate persons                to                determine, appropriate actions to be taken in the event of violations                of                the Policies and Procedures or of this Code of Ethics by the directors,                officers or employees of the Company. Such actions shall be reasonably                designed to deter wrongdoing and to promote accountability for adherence                to the Policies and Procedures and to these additional procedures,                and                shall include written notices to the individual involved that the                Board                has determined that there has been a violation, censure by the Board,                demotion or re-assignment of the individual involved, suspension                with or                without pay or benefits (as determined by the Board) and termination                of                the individual’s employment. In determining what action is appropriate in                a particular case, the Board of Directors or such designee shall                take into                account all relevant information, including the nature and severity                of the                violation, whether the violation was a single occurrence or repeated                occurrences, whether the violation appears to have been intentional                or                inadvertent, whether the individual in question had been advised                prior to                the violation as to the proper course of action and whether or not                the                individual in question had committed other violations in the past. |
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