Executive Compensation, Corporate Governance, Global Warming: The Heat is On!

Singin’ The PL Blues MODERATOR: Ivan Dolowich, Esq., Partner, Kaufman Dolowich Voluck & Gonzo LLP PANELISTS: Mark Lebovitch, Esq., Partner, Bernstein Litowitz Berger & Grossmann LLP Richard Bortnick, Esq., Member, Cozen O’Connor Gary Brown, Esq., Shareholder, Baker, Donelson, Bearman, Caldwell and Berkowitz P.C. Ric Marshall, Chief Analyst, The Corporate Library Steven White, Vice President, Arch Insurance Company

Agenda Corporate Governance Executive Compensation Legal Developments Global Warming Trends Q&A

Corporate Governance Recent economic and market developments Corporate boardroom happenings Sarbanes Oxley – success or failure?

Executive Compensation Abuse or excess? Company decision or can the government intervene? Proposed reforms Stock Options

Executive Compensation

Legal Developments Derivative Suits  Business judgment rule  Increase in frequency and severity  Impact on D&O coverage Regulatory  High profile losses  Impact of Rakoff decision

Global Warming Concerns Regulatory impact Private suits Product/Coverage implications

Trends Developing hot areas SEC reaction Institutional investor role Sovereign Immunity

Questions & Answers

Many thanks to … Ivan Dolowich Richard Bortnick Gary Brown Mark Lebovitch Ric Marshall Steven White