3rd Annual Energy Industry Directors Conference

T h e I m p a c t o f D e c i s i o n s

E N E R G YI n d u s t r y B o a r dC o n f e r e n c e

REGISTER TODAYMarch 2 & 3, 2010 • Rice University • Houston, Texas

Jesse H. Jones Graduate School of Business713 348 6060 • jonesgsm.rice.edu/boardconference

The Honorable Jack B. Jacobs Justice, Delaware Supreme Court

Featured Speakers

ENERGY INDUSTRY DIRECTORS Conference3rd Annual

Doug FosheePresident, Chief Executive Officer and Chairman of the Board, El Paso Corporation; Trustee, AIG Credit Facility Trust; Director, Cameron International Corporation; Chairman of the Federal Reserve Bank of Dallas, Houston Branch; Board of Trustees, Rice University; Greater Houston Partnership Board and Executive Committee

Bryan Marsal Co-Chief Executive Officer, Alvarez & Marsal; Chief Executive Officer, Lehman Brothers Holdings; Director, Timex Corporation

Janet ClarkChief Financial Officer, Marathon Oil; Audit Committee Chair, Exterran

Harry Markopolos The Bernie Madoff Whistleblower

Day 1 - Tuesday, March 2, 2010

8:00 – 8:15 WELCOMING REMARKS8:15 – 9:15 PLANNING FOR THE FUTURE: Securing Reliable Energy Sources and Predictions on Key Energy Industry Issues

Energyexpertswilldiscusstrends,challengesandrisksfacingtheenergyindustry.Thisthought-provokingoverviewwillsetthestagefortheconferenceandserveasaninvaluabletoolforboardmembersastheygovernforthefuture.

Dan Pickering,Co-President,HeadofResearch,Tudor,Pickering,Holt&Co.;Director,HoustonProducersForum;AdvisoryBoard,MidwayCompanies

Bill Arnold,ProfessorinthePracticeofEnergyManagement,RiceUniversity;Director,UniversityofTexasInstituteofLatinAmericanStudiesandMexicanCenter,UniversityofCaliforniaLanguageConsortium,TexasA&MCenterforInternationalBusinessStudies,FoundationforAmigosdelasAmericas

9:15 – 10:30 CURRENT VIEWS OF THE BOARD FROM THE BENCH ArespectedjuristonDelaware’shighestcourtandaprofessorofcorporatelawwillcoverthehotlegalissuesfacingboardmembers.Inaninteractivesession,thisleadingjuristwilldrawonyearsofexperiencerulingontheintersectionofboardactionandthelaw.Byapplyingthepanelists’expertiseincorporatelawtohypotheticalscenarios,youwilllearnhowtoavoidmajorproblems.Comeprepared—thisisanopportunitytoaskquestionsofleadersincorporatelawandgovernance.

Justice Jacobs,Justice,SupremeCourtofDelaware

Moderator: Nadelle Grossman,AssistantProfessor,MarquetteUniversityLawSchool

WHY YOU SHOULD ATTEND

Join Rice University and Fulbright & Jaworski L.L.P. for the 3rd

Annual Energy Industry Directors Conference, a director education

program designed for board members of energy and chemical

companies. The conference will feature industry leaders and

corporate governance experts who will focus on the issues facing

board members across all segments of the energy industry.

KEY TOPICS

• Current Views of the Board from the Bench

• The Critical Relationship Between the Board and Management

• The Lehman’s Saga: What Boards Can Learn from Its

Unplanned Demise

• The Emerging Era of Shareholder Activism: What Boards and

Shareholders Can Learn

• The Role of Energy Companies in the Energy and

Environment Debate

EARLY REGISTRATION

• $1,695 before Feb. 1, 2010

• $1,995 after Feb. 1, 2010

Group rate for three or more: $1,500 per person

* Rooms will be available for board meetings before or

immediately after the conference.

ACCOMMODATIONSHotel ZaZawww.hotelzazahouston.com

5701 Main St. • Houston, TX 77005 • 713 526 1991

A limited number of rooms have been reserved at the Hotel

ZaZa (near Rice campus) for the conference. Please book

your room directly by calling Tom DiBlasi at 713 639 4513

or email [email protected].

T W O WAY S T O R E G I S T E ROnline:jonesgsm.rice.edu/boardconference

Phone:7133486060

ENERGY INDUSTRY DIRECTORS Conference3rd Annual

E N E R G YI n d u s t r y B o a r dC o n f e r e n c e

10:30 – 10:45 BREAK

10:45 – 11:30 THE CRITICAL RELATIONSHIP BETWEEN THE BOARD AND MANAGEMENTThispanelwilldiscusstheirrecentexperienceintheCEOselectionprocessandhowtoeffectuateasuccessfulCEOtransition.HearfromanewCEOhowtheboardcaneasethetransitionprocessandhowboardmemberscanhelpmaximizeshareholdervalue.

Lynn Elsenhans,ChairmanandChiefExecutiveOfficer,SunocoInc;Boardmember,SunocoPartnersLLC;Director,InternationalPaper;BoardofTrustees,RiceUniversity

Ursula Fairbairn, PresidentandChiefExecutiveOfficer,FairbairnGroupLLC;Director,Sunoco,Inc.,AirProducts&ChemicalsInc.,VFCorporation

11:30 – 12:15 THE LEHMAN’S SAGA: What Boards Can Learn From Its Unplanned Demise

Drawingfromhisdecadesofexperienceinrestructuringandadvisingtroubledcompanies,thecurrentCEOofLehmanBrothersHoldingswillsharelessonslearnedandinsightsforboardsfacingmajorchallenges.Thisdiscussionwillincludehisviewoftheboard’sroleinfinanciallydistressedsituationsandactionplanningforpotentialinsolvency.

Bryan Marsal, Co-ChiefExecutiveOfficer,Alvarez&Marsal;ChiefExecutiveOfficer,LehmanBrothersHoldings;Director,TimexCorporation

12:15 – 1:00 LUNCH

1:00-2:00 MANAGING DIRECTORS’ LIABILITY Thispanelwilladdressthelatestdevelopmentsindirectorliabilityandstepsboardmemberscantaketoprotecttheirinterests.Topicstobediscussedincludecasesbeingfiledagainstenergycompanydirectors,newlegislationthatwillcreatemoreriskfordirectors,stepsbyregulatorybodiestoincreaseenforcementandotherfactorsthatmakethisadangeroustimetobeadirector.ThepanelwillalsodiscussriskmanagementandcriticalD&Oinsurancepolicyissues.

Carol Graebner, DeputyGeneralCounsel,PNMResources

William Federman,FounderandManagingMember,Federman&Sherwood

Michael Smith,President,ExecutiveLiability,ChartisInsurance

Moderator: Bob Harrell,Partner,Fulbright&JaworskiL.L.P.

Energy Industry Directors

Conference2:00 – 2:45 THE NEW ERA OF GOVERNANCEAsManagingDirectoroftheNationalAssociationofCorporateDirectors,PeterGleasonwilladdresstheever-changingcorporategovernancelandscapeinthewakeofthefinancialcrisis.Learnhowlegislation,regulationandshareholderpressurearechangingboardcompositionandfocus,particularlyintheareasofstrategyandriskoversight.

Peter Gleason,ManagingDirectorandChiefFinancialOfficer,NationalAssociationofCorporateDirectorsBoard;Director,ThePatriotFund;AdvisoryBoardsofNuraHealthcareLLCandTheOpenCompliance&EthicsGroup

2:45 – 3:00 BREAK

3:00- 4:00 THE CHANGED REGULATORY AND ENFORCEMENT ENVIRONMENTThispanelwillprovideanoverviewofthesignificantregulatoryenforcementrisksfacingenergycompanies.Thepanelwillfocusontheevolvingexposuretoallegationsofenergymarketmanipulation,ForeignCorruptPracticesActviolationsandenvironmentalenforcement.Withenergycompaniesfacingpotentialpenaltiesofhundredsofmillionsofdollars,boardmemberscannotaffordtobebehindthecurveinunderstandingthechangesinthelaw.

Billy Jacobson, VP,Co-GeneralCounsel,ChiefComplianceOffice,Weatherford

Peggy Heeg,Partner,Fulbright&JaworskiL.L.P.

Eva Fromm O’Brien,Partner,Fulbright&JaworskiL.L.P.

Moderator: Gerry Pecht,Partner,Fulbright&JaworskiL.L.P.

4:00 – 5:00 THE EMERGING ERA OF SHAREHOLDER ACTIVISM: What Boards and Shareholders Can Learn Thepopulistbacklasharisingoutoftheeconomicdownturnhasgivennewlifetoshareholderactivistspushingforso-called“goodgovernance.”TheFingers,actingontheirconvictionthattheboardandmanagementofBankofAmericafailedtoprotectshareholderinterestsintheMerrillLynchacquisition,workedtochangethegovernanceofthebank.Inresponsetothepressureexerted,amajorityofBankofAmericashareholdersvotedtostriptheofficeandtitleofChairmanfromCEOKennethLewis.Hearfromthispanelhowboardsshouldevaluatesayonpay,majorityvoting,thecalltosplittheroleofChairman/CEOandothershareholderinitiatives.

Jerry Finger,ManagingPartner,FingerInterestsLtd.;PresidentandDirector,AmbassadorLifeInsuranceCompany

Jon Finger, VicePresident,FingerInterests,Ltd.

Moderator: Shahid Malik,FacultyDirector,EnergyExecutiveEducation,RiceUniversity;FormerChiefExecutiveOfficer,StrategicEnergy;EVP,GreatPlainsEnergy;EVP,PRTMManagementConsulting

5:30-6:30 p.m. COCKTAILS AND DINNER HotelZaZa

Day 2 - Wednesday, March 3, 2010

8:30 – 9:00 THE FUTURE OF THE ENERGY INDUSTRY

Doug Foshee,President,ChiefExecutiveOfficerandChairmanoftheBoard,ElPasoCorporation;Trustee,AIGCreditFacilityTrust;Director,CameronInternationalCorporation;ChairmanoftheFederalReserveBank

ofDallas,HoustonBranch;BoardofTrustees,RiceUniversity;GreaterHoustonPartnershipBoardandExecutiveCommittee

9:00 – 9:30 THE ROLE OF ENERGY COMPANIES IN THE ENERGY AND ENVIRONMENT DEBATE Theenergyindustryhasbeenineffectiveinframingthepublicdebateontheroleofenergyandtheenvironment.Thisindustryleaderwilladdresshowtomovethediscussionfrompoliticalrhetorictoscience.

Jim Hackett, Chairman,PresidentandChiefExecutiveOfficer,AnadarkoPetroleumCorporation;Director,FluorCorporation,HalliburtonCompany;ChairmanoftheBoard,FederalReserveBankofDallas;ViceChairmanoftheBoard,BaylorCollegeofMedicine;BoardsoftheBusinessRoundtableandtheTrilateralCommission

9:30- 10:00 A LOOK BACK AND FORWARD ON THE ENERGY INDUSTRYTwolargepublicenergycompanyCEOswilldiscusstheirinsightsregardingwheretheenergyindustrystandstodayandwhereitisheading.

Jim Hackett,Chairman,PresidentandChiefExecutiveOfficer,AnadarkoPetroleumCorporation

Doug Foshee,President,ChiefExecutiveOfficerandChairmanoftheBoard,ElPasoCorporation

10:00 – 10:15 BREAK

10:15 – 11:15 WHAT EVERY BOARD MEMBER SHOULD KNOW ABOUT THE ROLE OF THE AUDIT COMMITTEEAlwaysachallengingcommittee,theAuditCommitteesofenergycompaniesmustdealwithcomplexprincipalssuchasclimatechangedisclosure,thepotentialforcapandtrade,marktomarketaccounting,reserveestimatesandroyaltyreporting.ABigFourexecutiveandleadingAuditCommitteememberswilldiscusshottopicsinenergy

accounting,emergingtrendsandredflagsinfinancialstatements.Thisdiscussionisamustforallboardmembers.

Jeff Curtis,AuditCommitteeChair,KBR

Ed Segner,ProfessorinthePracticeofCivilEngineeringManagement,RiceUniversity;Director,SeahawkDrilling,ExterranPartnersLPandBillBarrettCorporation

Janet Clark,ChiefFinancialOfficer,MarathonOil;AuditCommitteeChair,Exterran

Moderator: Dennis Whalen,Audit,Finance&OperationsCommittee,KPMGLLP

11:15- 12:15 KEYNOTE – BLOWING THE WHISTLE ON BERNIE MADOFF: Lessons for Board Members

Markopoloscandidlyexplainshislongfightto“giftwrapanddeliverthebiggestPonzischemetotheSECever.”

Markopolosrevealswhatboardmemberscanlearnfromthiscaptivatingcloakanddaggerstoryofoneofthelargestfinancialfraudsinhistory.

Harry Markopolos,TheBernieMadoffWhistleblower

12:15-1:00 CLOSING/LUNCH

E N E R G YI n d u s t r y B o a r dC o n f e r e n c e

Jesse H. Jones Graduate School of Business UpholdingtheprestigiousacademictraditionsofRiceUniversity,JesseH.JonesGraduateSchoolofBusinessisoneofsevenacademicunitsofRiceUniversity,oneoftheworld’sbestteachingandresearchuniversities.TheJonesSchoolofferstheFullTimeMBA,MBAforExecutives,andMBAforProfessionalsdegrees;afullscheduleofnon-degree,openenrollmentExecutiveEducationandcustomizedcoursesforbusinessandindustry;Ph.D.programs;andaBusinessMinor,opentoanyRiceundergraduatewhomeetsenrollmentrequirements.Anactivenetworkof3,800JonesSchoolalumnihavemadeaglobalimpactinallareasofbusiness,includingentrepreneurship,finance,andenergy.Rice’sMBAprogramshavebeenrecognizedintheU.S.A.andinternationallyforleadershipandinnovationbyU.S. News and World Report,theFinancial Times,theEconomist,andEntrepreneur magazine.Mostrecentnotables:•SalarieswereamongthehighestintheU.S.A.forbothgraduatesandalumni;•Financecontinuestorankinthetop10asarecognizedspecialty;•Intellectualcapital,basedonfacultyresearch,placedinthetop20–worldwide.ThesceniccampusislocatedinHouston,thenation’sfourth-largestcity,secondonlytoNewYorkinFortune500headquarters.

Fulbright & Jaworski L.L.P. Fulbright&Jaworskiisoneofthelargestinternationallawfirmswithnearly1,000lawyersandmultipleintegratedpracticeareas.Fulbrighthas220energy-focusedlawyersstrategicallylocatedin16marketsaroundtheworld,includingkeyintersectionsoftheworldoilandgastransactions,suchasHouston,NewYork,London,Dubai,Riyadh,HongKong,BeijingandDenver.Fulbrightprovidesafullrangeoflegalservicestoclientsworldwide.In2008,Directors and Boards rankedFulbrightamongtheTop10lawfirmsintheUnitedStatesintwoimportantcategoriesinvolvingcorporategovernance,“BestinDealingwithGeneralCorporateGovernanceIssues”and“BestinDealingwithDirectorLiabilityIssues.”Corporate Board Member magazinenamedFulbrightfortheseventhtimeamongthetop20corporatelawfirmsintheU.S.intheirsurveyofboardmembersofpubliccompanies.

SUBSTITUTION/CANCELLATION POLICYPayment must be received prior to the event in order to guarantee your place. If you are unable to attend the conference

for any reason, you may make substitutions at no extra charge, but we would appreciate prior notice. If you cancel at least 21 days prior to the conference, an administrative fee of 20% will be due. If your full payment has been made, the balance (minus the administrative fee) will be refunded. If your cancellation notice has NOT been received at least 21 days prior, you are responsible for the full payment. We reserve the right to accept or reject delegates at our discretion.

T W O WAY S T O R E G I S T E ROnline:jonesgsm.rice.edu/boardconference

Phone:7133486060

Jesse H. Jones Graduate School of Management

The Jesse H. Jones Graduate School of Management is one of seven academic units of Rice University, one of the world’s best teaching and research universities. The Financial Times 2007 survey ranked the Rice MBa program the best in Texas and among the top ten business schools in the world for finance.

Rice offers the MBa, MBa for Executives, and MBa for Professionals degrees as well as joint MBa degrees in mechanical engineering and medicine. The Jones School also provides a full schedule of non-credit executive education and customized courses for busi-ness and industry. The wooded campus is located in Houston, the nation’s fourth-largest city, second only to New York in Fortune 500 headquarters.

Fulbright & Jaworski L.L.P.

Founded in 1919, Fulbright & Jaworski L.L.P. is a leading full-service international law firm, with nearly 1,000 lawyers in 16 locations in Houston, New York, Washington, D.C., austin, Dallas, Denver, Los angeles, Minneapolis, San antonio, St. Louis, Dubai, Beijing, Hong Kong, London, Munich and Riyadh. Fulbright provides a full range of legal services to clients worldwide.

The 2006 BTI survey of Fortune 1000 general counsel chose Ful-bright as a “Power Elite Law Firm,” Corporate Board Member magazine named Fulbright among the top 20 corporate law firms in the U.S. in their survey of board members of public companies, and International Law Office, based on survey responses received from international corporate counsel, awarded Fulbright the “2005 Client Choice award” as the top law firm for client service in the United States.

TO GEORGE BUSH

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Jesse H. Jones Graduate School of Management

The Jesse H. Jones Graduate School of Management is one of seven academic units of Rice University, one of the world’s best teaching and research universities. The Financial Times 2007 survey ranked the Rice MBa program the best in Texas and among the top ten business schools in the world for finance.

Rice offers the MBa, MBa for Executives, and MBa for Professionals degrees as well as joint MBa degrees in mechanical engineering and medicine. The Jones School also provides a full schedule of non-credit executive education and customized courses for busi-ness and industry. The wooded campus is located in Houston, the nation’s fourth-largest city, second only to New York in Fortune 500 headquarters.

Fulbright & Jaworski L.L.P.

Founded in 1919, Fulbright & Jaworski L.L.P. is a leading full-service international law firm, with nearly 1,000 lawyers in 16 locations in Houston, New York, Washington, D.C., austin, Dallas, Denver, Los angeles, Minneapolis, San antonio, St. Louis, Dubai, Beijing, Hong Kong, London, Munich and Riyadh. Fulbright provides a full range of legal services to clients worldwide.

The 2006 BTI survey of Fortune 1000 general counsel chose Ful-bright as a “Power Elite Law Firm,” Corporate Board Member magazine named Fulbright among the top 20 corporate law firms in the U.S. in their survey of board members of public companies, and International Law Office, based on survey responses received from international corporate counsel, awarded Fulbright the “2005 Client Choice award” as the top law firm for client service in the United States.

TO GEORGE BUSH

INTERCONTINENTAL

TO HOBBY AIRPORT

59

610

610

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45

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288

610610

1010

RICE BLVD

GREE

NBRI

AR

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From U.S. 59, take the Shepherd/Greenbriar exit.

Travel south on Greenbriar, and turn left on Rice Blvd.

From Rice Blvd., take University Entrance 20, and turn right at the second stop sign.

The Jones School will be on your left. You will see the entrance to the Central Campus Garage on your left.

Parking is available in the Central Campus Garage located under the Jones Graduate School.

D I R E C T I O N S T O T H E E V E N T

Jesse H. Jones Graduate School of Business

T h e I m p a c t o f D e c i s i o n s

E N E R G YI n d u s t r y B o a r dC o n f e r e n c e

REGISTER TODAYMarch 2 & 3, 2010 • Rice University • Houston, Texas

Jesse H. Jones Graduate School of Business713 348 6060 • jonesgsm.rice.edu/boardconference

Jesse H. Jones Graduate School of BusinessSuite 127, MS 531Post Office Box 2932Houston, Texas 77252-2932

R E G I S T E R T O D AYMarch 2 & 3, 2010

Non-Profit Org.U.S. Postage

PAIDHouston, TX

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ENERGY INDUSTRY DIRECTORS Conference3rd Annual