TMA 2001 Annual Conference s1

TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

October 7-9* . J.W. Marriott Desert Ridge, Phoenix, AZ

BROCHURE UPDATED 10/1/09

*(corporate governance meetings: October 6)

Register online today! Agenda Tennis Tournament Keynote Sessions Hotel Information General Sessions Attire Concurrent Tracks Continuing Education Credit Advanced Educational Programs Sponsors Certification Exhibit Hall Registration Policies/Deadlines Questions Golf Tournament AGENDA Sunday, October 4 9:00 a.m. – 4:00 p.m. Body of Knowledge Accounting & Finance Course* 4:30 p.m. – 7:00 p.m. Body of Knowledge Accounting & Finance Exam * Monday, October 5 8:00 a.m. – 3:00 p.m. Body of Knowledge Management Course* 3:30 p.m. – 7:00 p.m. Body of Knowledge Management Exam * Tuesday, October 6 8:00 a.m. – 10:00 a.m. Certification Oversight Committee (COC) Meeting 9:00 a.m. – 4:00 p.m. Body of Knowledge Law Course* 10:15 a.m. – 12:15 p.m. TMA Board of Directors’ Meeting 12:15 p.m. – 1:00 p.m. TMA Board/COC Lunch 1:15 p.m. – 3:15 p.m. Chapter Presidents’ Meeting 4:30 p.m. – 7:00 p.m. Body of Knowledge Law Exam* Wednesday, October 7 7:00 a.m. – 8:30 p.m. Registration Desk Open 9:30 a.m. Golf Clinic and Tournament* Tournament sponsored by Hilco TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Refreshment Cart sponsored by LBC Credit Partners, Inc. and SB Capital Group LLC 1:00 p.m. – 3:00 p.m. Women’s Professional Networking Group Poolside Lunch* Sponsored in part by Quarles & Brady LLP 1:30 p.m. Tennis Tournament* 11:00 a.m. – 4:00 p.m. Exhibitor Move-In 5:00 p.m. – 6:00 p.m. New Member Reception** Sponsored by EPIQ Systems 6:00 p.m. – 7:00 p.m. Hall Wine and Cheese Reception in Exhibit Hall Co-sponsored by BDO Consulting; CRG Partners; and SSG Capital Advisors LLC 7:00 p.m. – 8:30 p.m. Opening Reception Co-sponsored by Accord Financial, Inc.; AlixPartners, LLP; CM&D; and Locke Lord Bissell & Liddell LLP Thursday, October 8 7:00 a.m. – 7:30 p.m. Registration Desk Open 7:00 a.m. – 8:30 a.m. Advanced Educational Session: “A Tale of Two Times: Surviving Today, Managing for Tomorrow”* 7:30 a.m. – 8:30 a.m. Continental Breakfast Sponsored by BBK; Big Lots Capital; and Executive Sounding Board Associates Inc. 8:30 a.m. – 9:45 a.m. Opening Keynote Speaker Zbigniew Brzezinksi Sponsored in part by Carl Marks Advisory Group LLC Thursday, October 8 Cont’d 9:45 a.m. – 12:30 p.m. Exhibit Hall Open 9:45 a.m. – 10:45 a.m. Coffee Break in Exhibit Hall Sponsored in part by Atlas Partners, LLP and Industrial Opportunity Partners 11:00 a.m. – 12:15 p.m. Concurrent Tracks  Troubled Industries: “Automotive Suppliers: The Next Chapter 7, 11, Other?”  Restructuring Issues: “Capital: Who is Where on the Right Side of the Balance Sheet?”  In Practice: “Avoiding Chapter 22” TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

12:30 p.m. – 3:00 p.m. Keynote Luncheon Panel, “The Role of Government in Today’s Restructurings: The End of the Absolute Priority Rule;” Presentation of the Carl Marks Student Paper Competition Prizes; and Presentation of Turnaround and Transaction of the Year Awards Sponsored in part by Grant Thornton LLP 3:00 p.m. – 7:30 p.m. Exhibit Hall Open 3:00 p.m. – 3:30 p.m. Coffee Break in Exhibit Hall Co-sponsored by The Meridian Group and Tucker Arensberg, P.C. 3:45 p.m. – 5:00 p.m. Concurrent Tracks  Troubled Industries: “The U.S. Retail Sector: It Finally Happened – Consumers Shopped Till They Dropped”  Restructuring Issues: State of the Capital Markets  In Practice: “Bankruptcy Preparation: Beyond the Basics” 5:15 p.m. – 6:15 p.m. Diversity Reception ** 6:15 p.m. – 7:30 p.m. Gala Cocktail Reception and Exhibitor Prize Drawings Sponsored in part by Huron Consulting Group 7:45 p.m. – 9:45 p.m. Dinner and Keynote Presentation by Renowned Mt. Everest Mountaineer Ed Webster

Friday, October 9 7:00 a.m. – 3:00 p.m. Registration Desk Open 7:30 a.m. – 11:00 a.m. Exhibit Hall Open 7:30 a.m. – 8:15 a.m. Continental Breakfast in Exhibit Hall 8:30 a.m. – 9:45 a.m. General Session: “Somewhere Over the Rainbow: World Economy in Perspective” 10:00 a.m. – 10:30 a.m. Coffee Break in Exhibit Hall Sponsored by KPMG LLP 10:45 a.m. – 12:00 p.m. Concurrent Tracks  Troubled Industries: “The Gathering Storm: Crisis in the CMBS/Real Estate Industry”  Restructuring Issues: “Ethical Issues in Corporate Governance in Restructuring and Bankruptcy” TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

 In Practice: “A Peek Behind the Curtain: Turnaround Lessons Borrowed From Private Equity” 12:15 p.m. – 3:00 p.m. Keynote Luncheon Presentation with Fred Barnes, Co-founder of The Weekly Standard Co-sponsored in part by NRC Realty& Capital Advisors, LLC * Additional fee required (see following pages/registration form for details) Please note that private company events may not conflict with any scheduled activity of the TMA 2009 Annual Convention. TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

KEYNOTE SPEAKERS Zbigniew Brzezinski Thursday, October 8, 8:30 a.m. – 9:45 a.m. (time reflects entire opening session) With a mind that recognizes the complexities and interrelations of seemingly unrelated events, Zbigniew Brzezinski offers audiences an in-depth analysis of the events of the day, discussing U.S. foreign policy, global trouble spots and the political and business implications of the evolving global marketplace. Audiences learn the nuances of a constantly shifting strategy and foreign policy from someone who has helped shape both. Brzezinski is a counselor and trustee at the Center for Strategic and International Studies and professor of American Foreign Policy at the Paul Nitze School of Advanced International Studies at Johns Hopkins University. From 1977 to 1981, Brzezinski was National Security Advisor to President Jimmy Carter. In 1981, he was awarded the Presidential Medal of Freedom “for his role in the normalization of U.S.-Chinese relations and for his contributions to the human rights and national security policies of the United States.” Brzezinski is author of numerous articles and books, including The Grand Failure: The Birth and Death of Communism in the 20th Century; The Grand Chessboard; Second Chance: Three Presidents and the Crisis of American Superpower; and, most recently, co-author of America and the World: Conversations on the Future of American Foreign Policy.

Ed Webster Author and Renowned Mt. Everest Mountaineer Thursday, October 8, 7:45 p.m. – 9:45 p.m. (time reflects entire dinner program)

Ed Webster is a world-renowned American mountaineer, photographer, lecturer and author. A veteran of seven Himalayan expeditions to Nepal, Tibet, Bhutan and Pakistan, Webster was also the first American mountaineer to climb in Mongolia. In his 1988 ascent of Mt. Everest, Webster climbed a never-before-attempted route with a team of four without use of supplementary oxygen, radios or Sherpa assistance. The experience has been hailed as the last of the great Everest expeditions and one of the most audacious mountaineering feats of all time. Webster shares with audiences his remarkable experience, his stunning photographs from the top of Everest and his story of courage, fortitude and teamwork in achieving the adventure of a lifetime. TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Fred Barnes Executive Editor, The Weekly Standard Friday, October 9, 12:15 p.m. – 3:00 p.m. (time reflects entire lunch program)

Taking audiences beneath the surface of headline events, Fred Barnes uses his skills as a journalist to map the political landscape and chart a course for the future. In presentations that cut through the spin and uncover the truth, Barnes reveals the stories that lie beyond the hype and details as to how those stories will define the future. Barnes co-founded the political journal The Weekly Standard. Witty and insightful, Barnes also co-hosts FOX News’ The Beltway Boys and moderates Issues in the News for Voice of America. His most recent book, Rebel-in-Chief: How George W. Bush Is Redefining the Conservative Movement and Transforming America, gives readers an insider’s view of the Bush Administration.

GENERAL SESSIONS Thursday, October 8, 12:30 p.m. – 3:00 p.m. (time reflects entire lunch session) “The Role of Government in Today’s Restructurings: The End of the Absolute Priority Rule” Moderator: William Derrough, Moelis & Company Panel: Thomas (Tim) F. Cullen Jr., Jones Day; Thomas E. Lauria, White & Case; Fred Lynch, Masonite; Gov. James R. Thompson, Winston & Strawn LLP; The expanded role of government in large, public restructurings has had a wide variety of repercussions and generated significant discussion and debate. This panel brings together professionals who will share their experiences and perspectives on this timely and relevant topic.

Friday, October 9, 8:30 a.m. – 9:45 a.m. “Somewhere Over the Rainbow: World Economy in Perspective” Moderator: Charles C. Reardon, Carl Marks Advisory Group LLC Panel: Jim Rounds, Elliott D. Pollack and Company; Byron Schlomach, Goldwater Institute Where are we in the economic cycle? Is this level of sales permanent? What will “normal” be and when will we get there? What will be the key drivers of turnarounds going forward? Hear from two experienced economists as they offer their perspectives on these issues and more. TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

CONCURRENT TRACKS TROUBLED INDUSTRIES Thursday, October 8, 11:00 a.m. - 12:15 p.m. “Automotive Suppliers: The Next Chapter 7, 11, Other?” Moderator: William G. Diehl, CTP, BBK, Ltd. Panel: Andre A. Augier, W.Y. Campbell & Company; Robert J. Diehl, Bodman LLP; Charles M. Moore, CTP, Conway MacKenzie, Inc.; Tricia A. Sherick, Honigman Miller Schwartz and Cohn LLP This panel of industry experts will discuss the impact of the current turmoil within the auto industry, as well as the impact of the supply base consolidation on the various constituencies.

Thursday, October 8, 3:45 p.m. – 5:00 p.m. “The U.S. Retail Sector: It Finally Happened—Consumers Shopped Till They Dropped” Moderator: Robert J. Duffy, FTI Consulting, Inc. Panel: John R. Buck, Versa Capital Management; Benjamin L. Nortman, Hilco; Betsy Ratto, Bank of America Retail Finance Group Despite rising expectations for U.S. economic recovery to begin in late 2009, prospects for the retail sector remain subdued at best, with growth in discretionary consumer spending expected to remain far below normal at least through 2010. This panel of experts will discuss the likelihood and implications of a prolonged sales slump for U.S. retailers, including its potential impact on various retail categories and on marginal retail chains and the entities that do business with them. Discussion topics will include:

 What has happened to the spendthrift American consumer since 2008?  How have large retailers constructively responded to the sales slump? How over-stored is America?  What should we expect for sales levels during the 2009 holiday season? What are reasonable forecasts?  How significant is the impact beyond retail on consumer goods makers, landlords, REITs and consumer finance companies?  What have we learned from the slew of retail bankruptcies this year? TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

 Are traditional retail restructurings still possible in this environment? Is BAPCPA really to blame?

Friday, October 9, 10:45 a.m. – 12:00 p.m. “The Gathering Storm: Crisis in the CMBS/Real Estate Industry” Moderator: Kenneth A. Buckfire, Miller Buckfire & Co., LLC Panel: Gregory A. Cross, Venable LLP; David B. Iannarone, CWCapital Asset Management; Stephen G. Tomlinson, Kirkland & Ellis LLP This panel of industry experts will review the implications of the CMBS market shut down, for real estate in particular and for the capital markets in general. Discussion topics will include:  the next capital adequacy crisis facing lenders  what borrowers should do about refinancing risk  practical means of negotiating with special servicers

RESTRUCTURING ISSUES Thursday, October 8, 11:00 a.m. - 12:15 p.m. “Capital: Who is Where on the Right Side of the Balance Sheet?” Moderator: Ward K. Mooney, Crystal Capital Fund Management LP Panel: Peter J. Antoszyk, Proskauer Rose LLP; Christopher J. Calabrese, LBC Credit Partners Inc.; Cathy Hershcopf, Cooley Godward Kronish LLP; David Peress, Hudson Capital Partners, LLC The right side of the balance sheet reflects the true financial health of a business enterprise. Each component is controlled and driven by important constituencies that need to be coordinated, managed and understood in order to maximize strategic and financial objectives. In a restructuring, the right side of the balance sheet can be a complex, intriguing, mysterious quagmire, as various stakeholders sort out who is who, and who is what. This panel will address the current complexities in the debt capital markets and how capital, and capital structures, are being addressed, dissected, debated, legislated and challenged. Once the smoke clears, will the complexities of the right side of the balance sheet allow for successful, long-term restructurings?

Thursday, October 8, 3:45 p.m. – 5:00 p.m. “State of the Capital Markets” TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Moderator: Steve Zelin, The Blackstone Group Panel: Richard Banziger, Citigroup Global Markets Inc.; Lawrence E. Klaff, GB Merchant Partners

What lies ahead? During the past two years, the financial markets have experienced unprecedented volatility, the effects of which have changed the Wall Street landscape for years to come. At the same time, the balance sheets of many companies benefiting from the loose financing terms available in the middle of the decade are soon facing a time of reckoning. This panel will provide their views on what the next few years will look like and who are likely to be the winners and the losers. Fasten your seatbelt.

Friday, October 9, 10:45 a.m. – 12:00 p.m. “Ethical Issues in Corporate Governance in Restructuring and Bankruptcy” Moderator: Brad Scheler, Fried, Frank, Harris, Shriver & Jacobson LLP Panel: Lorie R. Beers, Seabury Group; Laura Davis Jones, Pachulski, Stang, Ziehl & Jones PC; Roberta A. DeAngelis, Office of the U.S. Trustee Ethics is always an issue of concern during restructuring and in bankruptcy, not just for lawyers but for all corporate renewal professionals and their clients. As the economic, financial and regulatory environments become even more challenging, restructuring and corporate renewal professionals and their clients will likely find business decisions scrutinized for conflicts of interest with increasing frequency. This panel of experienced restructuring and bankruptcy professionals will share their views on these issues.

IN PRACTICE Thursday, October 8, 11:00 a.m. - 12:15 p.m. “Avoiding Chapter 22” Moderator: Edward I. Altman, Ph.D., New York University Stern School of Business Panel: David L. Auchterlonie, CTP, The Scotland Group, Inc.; Joseph Bondi, Alvarez & Marsal; Adam Dunayer, Houlihan Lokey In the last 25 years, there have been more than 200 instances of relatively large firms filing for bankruptcy twice (Chapter 22), three times (Chapter 33) or even four times (Chapter 44). This multi-filing occurrence has happened in more than 15 percent of all large firm emergences with negative ramifications for the U.S. Chapter 11 process. This panel explores the reasons for this result and proposes a way to screen Chapter 11 emergences to significantly reduce this unfortunate event. TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

*(corporate governance meetings: October 6) TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Thursday, October 8, 3:45 p.m. – 5:00 p.m. “Bankruptcy Preparation: Beyond the Basics” Moderator: Mark K. Thomas, Proskauer Rose LLP Panel: Brenda Adrian, Sitrick and Company Inc.; Jonathan Carson, Kurtzman Carson Consultants LLC; Michael F. Gries, Conway Del Genio Gries & Co, LLC; Jeffrey N. Pomerantz, Pachulski Stang Ziehl & Jones LLP First day motions are not just a checklist of pleadings that must be filed to ensure a smooth transition into Chapter 11. Behind most first day motions are business and operational issues that, if not anticipated and solved, will result in operational problems even if the relief requested in the motion is granted. This panel will discuss some key operational and legal issues that companies and advisors cannot let "fall through the cracks," as well as ways to ensure that companies are prepared for the worst, as they hope for the best.

Friday, October 9, 10:45 a.m. – 12:00 p.m. “A Peek Behind the Curtain: Turnaround Lessons Borrowed From Private Equity” Moderator: Michael E. Toner, Lockton Companies LLC Panel: Jeffrey D. Cowhey, Ambridge Partners; John Edmonds, ACE Insurance Company; Paul Halpern, Versa Capital Management, Inc. This session profiles overlooked risk management strategies available to companies in distress. Leading industry experts will offer unique perspectives about the credit decision-making process inside one of the world’s leading insurers, including insight into how an insured’s financial rating impacts pricing and how the current environment is affecting collateral trends; the use of insurance products and professionals in due diligence and post-acquisition performance improvement; and the increased use of transaction insurance products as a bridge between negotiating parties in business transactions. Attendees will learn:  Practical ideas for better managing negotiations related to how insurers look at distress, credit risk, bankruptcy and collateral  The importance that private equity places on independent insurance due diligence as a pre-acquisition discipline and parallel opportunities in corporate turnaround and renewal  How transaction insurance products (reps and warranties, tax opinion, etc.) can be “deal enablers” and provide an efficient, cost-effective alternative to delays, hold backs and escrows TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

ADVANCED EDUCATIONAL SESSION Thursday, October 8, 7:00 a.m. – 8:30 a.m. $125/person (convention registration is required to attend this session) “A Tale of Two Times: Surviving Today, Managing for Tomorrow” Richard H. Fleming, USG Corporation This session addresses the dual goals of managing a business for survival today while simultaneously positioning it for growth and profitability in the future. These principles are illustrated through a detailed examination of the challenges confronting suppliers to the housing industry in today’s difficult economic environment by examining USG Corporation, the largest supplier of wallboard in North America. Due to the current recession, USG has seen industry demand for its core wallboard product drop an unprecedented 50%. The session provides a detailed assessment of the threats and the opportunities that have occurred in the residential real estate market, as well as the unfolding situation in the commercial construction industry. A key objective of the session is to describe how the joint management of business operations and capital structure decisions is paramount in managing for survival in today’s economic environment while simultaneously positioning the business for success in the future. Thus, the session provides important general insights for turnaround managers in all industries adversely impacted by current business conditions and lack of financing opportunities. Richard H. Fleming is executive vice president and chief financial officer of USG Corporation. His previous assignments at USG Corporation included senior vice president and chief financial officer, vice president and chief financial officer, and vice president and treasurer. Prior to joining USG Corporation, Fleming held numerous senior financial positions at Masonite Corporation, which was acquired by USG in 1984. Those positions included vice president- finance and chief financial officer, vice president-planning and treasurer, treasurer, and assistant treasurer. Before joining Masonite in 1973, Fleming held several positions with Graco, Inc. BODY OF KNOWLEDGE COURSES Taught by a business school professor, practicing attorney and United States Bankruptcy Judge, the Body of Knowledge courses are open to all corporate renewal professionals seeking valuable tools to help apply the principles of corporate renewal to real-world situations. The course registration fee is $275/course; the corresponding course book is $225 book or $625/full set of books. Please click here to learn more about the courses and course materials and to register. TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Date Course Course Fee Book Fee Sunday, October 4 Accounting & Finance $275 $225 Monday, October 5 Management $275 $225 Tuesday, October 6 Law $275 $225 Set of three books $625 CTP CERTIFICATION PROGRAM The Certified Turnaround Professional (CTP) designation was introduced in 1993 as an objective measure of the experience, knowledge and integrity that is necessary to conduct corporate renewal work. The CTP program establishes quality standards for an otherwise unregulated profession. The CTP designation provides evidence of an individual’s commitment to the turnaround and corporate renewal industry and also attests to a level of expertise that non-certified professionals may find difficult to prove. Completing the CTP certification process provides a corporate renewal professional with a solid foundation to operate successfully in the industry and could very well enhance future earning power.

The CTP program also offers an interim designation, the Certified Turnaround Professional – Designate (CTP-D), for those applicants who are working in the corporate renewal profession but have not yet acquired all of the necessary CTP work experience. This interim step to full certification indicates that the candidate has demonstrated proficiency in the legal, managerial and financial aspects of a turnaround and is concurrently working toward the CTP designation.

The CTP and CTP-D certification processes consist of the following steps: 1. Completion and submission of the Applicant Portfolio 2. Six-week Standards Subcommittee review process (including in-depth portfolio review; determination of examination eligibility; notification of eligibility status) 3. Successful completion of certification examinations 4. Successful completion of Public Comment Phase (one 60-day period for CTP candidates; two 60-day periods for CTP- D candidates)

Please click here to learn more about the CTP certification. TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

RECREATIONAL ACTIVITIES  Golf Clinic and Tournament Wednesday, October 7 . Tournament sponsored by Hilco . Beverage cart co-sponsored by LBC Credit Partners, Inc. and SB Capital Group LLC . Golf hole sponsored by Winston & Strawn LLP 9:30 a.m. Check-in begins 10:00 a.m. Golf clinic 10:45 a.m. Boxed lunches/Warm up 11:30 a.m. Shotgun start 4:30 p.m. Prize Reception $295/person Join your colleagues on the Palmer Championship Course at the J.W. Marriott Desert Ridge for the golf clinic, led by Marriott golf professionals, and tournament. Range balls, boxed lunches and the beverage cart during play are included in the registration fee. Prizes will be awarded at the completion of play. If you require golf club rental, please complete the appropriate portion of the registration form. TMA will place the rental order; attendees are responsible for full payment on the day of the tournament. Golf club rental is $40; golf shoe rental is $20.

Registering for the golf tournament. You must be a registered attendee of the 2009 Annual Convention to participate in the golf tournament. On the registration form, you may indicate individuals with who you wish to play, and TMA will do its best to accommodate your request. If you purchase more than one golf tournament registration, you must indicate the names of those for whom you are purchasing tournament participation. Because TMA maintains a waiting list for this event, the association will not hold space for this event (meaning that TMA will not reserve a golf space unless the name of a registered attendee is provided). Waiting list. Space in the golf tournament is limited. Registration will be accepted on a first-come, first-served basis. TMA will maintain a waiting list for this event. If you are on the waiting list, TMA will process the tournament registration fees. If the tournament is still sold out at the time of play, TMA will reimburse your golf tournament registration fees in full. Please TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

carefully review the cancellation and substitution policies further in this brochure for complete details about canceling or substituting for the golf tournament. Appropriate attire. A collared shirt is required. Jeans and other denim garments are not permitted.  Mixed Round Robin Tennis Tournament Wednesday, October 7, 1:30 p.m. (boxed lunch at 1:00 p.m.) $50/person Join your colleagues at the Desert Ridge Tennis Center for the mixed round robin tennis tournament. Attendees must be present by 1:15 p.m. Boxed lunch is included in the tournament fee and will be served starting at 1:00 p.m. Appropriate tennis attire and shoes are required. Racquets may be rented for $10/day; rental should be arranged directly through the tennis center. Tennis balls may be purchased for $6/canister. Registering for the tennis tournament. You must be a registered attendee of the 2009 Annual Convention to participate in the tennis tournament. Please use the form in this brochure to register. If you purchase more than one tennis tournament registration, you must indicate the names of those for whom you are purchasing tournament participation. Because TMA maintains a waiting list for this event, the association will not hold space for this event (meaning that TMA will not reserve a tennis space unless the name of a registered attendee is provided). Waiting list. Space in the tennis tournament is limited. Registration will be accepted on a first-come, first-served basis. TMA will maintain a waiting list for this event. If you are on the waiting list, TMA will process the tournament registration fees. If the event is still sold out at the time of play, TMA will reimburse your tennis tournament registration fees in full. Please carefully review the cancellation and substitution policies further in this brochure for complete details about canceling or substituting for the tennis tournament.

 Women’s Professional Networking Group Poolside Lunch Wednesday, October 7, 1:00 p.m. – 3:00 p.m. $50/person Coordinated by TMA’s Professional Women’s Networking Group, this lunch event provides women with a relaxing, outdoor forum to network and discuss current trends and practices in the corporate restructuring industry. Join your colleagues for TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

an afternoon of poolside relaxation and networking. Buffet lunch and beverages are included in the registration fee. You must be a registered attendee of the 2009 Annual Convention to participate in this event.  New Member Reception Wednesday, October 7, 5:00 p.m. – 6:00 p.m. Are you new to TMA within the last year and want to get the most of your membership? TMA invites all new members attending the convention to a private reception with leaders of the industry. Learn more about the organization and how you can become involved, meet the association leadership and begin your networking in the turnaround industry in this intimate setting. This invitation-only reception is included in the convention registration fee; invitations will be included in the onsite registration materials.  Diversity Reception Thursday, October 8, 5:15 p.m. – 6:15 p.m. The TMA Diversity Subcommittee invites young professionals, women and minorities to attend a reception in their honor. Expand your network with other TMA professionals and peers who have similar interests and experiences as you by attending this reception. This invitation-only reception is included in the convention registration fee; invitations will be included in the onsite registration materials. REGISTRATION POLICIES Registration Fees Unless otherwise indicated, registration fees include educational sessions, meals and social functions. Convention events are not pro-rated. To attend any portion of the convention, you must register for the entire convention at the appropriate fee as indicated on the registration form and in the chart below. The registration fee provides admission for one individual only. Registrations may not be shared. All registered attendees will receive a name badge at the convention that must be worn for admittance into all sessions, meals, social events and the exhibit hall. Registration Categories Please register by completing the hard copy registration form or using TMA’s online registration. Registration fees are listed in the chart below, and descriptors of these registration categories follow further below.

Category On or before August 14 After August 14 After September 30 TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Member $1195 $1395 $1495 Nonmember $1395 $1595 $1695 Full-time Academic/Government Employee $750 $950 $1050 Spouse/Guest Full Registration $520 $520 $520 Spouse/Guest Event Pass $275 $275 $275

 The member registration fee is for current, active TMA members. Please note that TMA membership is on an individual basis. Unless otherwise appropriate as defined below, all other attendees will be charged the nonmember fee. If it comes to be that an individual registers at the member rate and TMA has no membership record, the individual will be charged the nonmember rate unless s/he can produce proof of membership. If you are interested in joining TMA, please contact the membership department at 312-578-6900 or [email protected].  For the full-time academic/government employee registration fee, a full-time academic is defined as a student enrolled in at least 12 credit hours per term at an accredited university or an instructor employed on a full-time basis by an accredited university. Please submit appropriate documentation with your registration form.  The spouse/guest full registration fee is for family members, friends and/or non-industry related individuals. TMA members are not eligible for this registration option. Individuals who practice in the corporate renewal industry and who are not TMA members are also not eligible for this registration option. Spouse/guest full registration includes entrance to all meals, social functions, keynote presentations and the exhibit hall. Spouses/guests will receive a name badge at the convention that must be worn for admittance into these events. Except for the event pass detailed below, meals and social functions are not available on a pro-rated basis for spouses/guests. To attend any of the sessions included in this fee, you must register your spouse/guest at the full spouse/guest rate.  The spouse/guest event pass is for family members, friends and/or non-industry related individuals. TMA members are not eligible for this pass. Individuals who practice in the corporate renewal industry and who are not TMA members are also not eligible for this pass. The pass allows entry into the following events only: . Wine and Cheese Reception (Wednesday, October 7) . Opening Reception (Wednesday, October 7) . Gala Reception (Thursday, October 8) . Dinner (Thursday, October 8) TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Access to keynote presentations, awards presentations, social/meal events not indicated above and/or the exhibit hall requires full spouse/guest registration.  On-site registration for members, nonmembers, and full-time academics/government employees will be subject to a $100 surcharge (added to the post-August 14 fees). This fee does not apply to the advanced educational session or spouse/guest registration options.

Submitting Your Registration Registration forms must be mailed or faxed to TMA. You may also register online. Phone registration is not accepted. Registrations are not considered complete until payment is received. Individuals who register for the early registration fee but fail to provide payment before the Friday, August 14, 2009, early-bird deadline will be charged the regular registration fee. The registration form and payment must be received, not postmarked, by August 14. Postmarks will not be considered.

Registered attendees will receive confirmation of their registration by email. For those individuals who register online, this notice is in addition to that which is automatically sent confirming the online transaction. This notice contains important convention details. Please carefully review the information for accuracy, especially your contact information, and please print a copy for your records. Changes must be submitted in writing by fax to 312-578-8336 or email to Angela Worlds at [email protected]. A confirmation notice is not required for admittance into the convention.

Pre-registration Deadline Wednesday, September 30, 2009 Only on-site registration forms will be accepted after Wednesday, September 30, 2009. TMA will not accept any registration forms or substitution notices in advance of the convention after this date. On-site registration opens at the J.W. Marriott Desert Ridge on Wednesday, October 7, 2009, at 7:00 a.m. Please note that a $100 on-site registration surcharge will apply for certain registration categories (there is no surcharge to substitute a registration on-site).

Registration List Deadline and Distribution Wednesday, September 23, 2009 To ensure your inclusion in the registration list distributed with the on-site convention materials, your registration form, with payment, must be received at TMA’s international headquarters office by 11:59 p.m. Central on Wednesday, September 23, 2009. Registered attendees will receive an advance copy of this list by email one week prior to the TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

convention. Post-convention, a final registration list will be emailed to all registered attendees. The post-convention list will include the names of those individuals who registered after the September 23 registration list deadline.

CONVENTION CANCELLATION AND SUBSTITUTION POLICIES Please carefully review the following policies. Registrants who fail to attend the convention and do not notify TMA in accordance with these policies and deadlines are responsible for full payment; this applies to policies for recreational events, as well.

 CONVENTION CANCELLATION POLICY Notification of cancellation must be submitted in writing (email is acceptable). Cancellations will not be reviewed or processed until they are received in writing. Phone cancellations are not accepted.

Cancellations received on or before Wednesday, September 23, 2009, will be refunded as follows:  Entire Convention Cancellation: Attendee will receive a refund for the total cost of convention less a $250 processing fee. If the cancellation also includes cancellation of a spouse/guest registration (either spouse/guest registration option) and any events for which s/he may be registered, the refund will be for the total of all registration fees less the $250 processing fee.  Spouse/Guest Full Registration Cancellation Only: Attendee will receive a refund for the full registration and any events for which the spouse/guest may be registered less a $150 processing fee.  Spouse/Guest Event Pass Cancellation Only: Attendee will receive a refund for the event pass and any events for which the spouse/guest may be registered less a $75 processing fee.  Advanced Educational Session: Attendee will receive a refund for the cost of the session less a $25 processing fee.

Refunds will be issued following the convention, no later than November 6, 2009.

Cancellations received after Wednesday, September 23, 2009, will not be refunded. This includes the entire convention registration and/or any portion of the registration. TMA does not issue credits for future conferences. Please note that if you register for the convention after these cancellation dates have passed, you will not be eligible for any type of refund. These cancellation policies apply to all individuals, regardless of when the registration form is submitted. TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Unless otherwise indicated in your cancellation notice, TMA will not cancel the membership renewal portion of any registration. If you would like to cancel the membership renewal portion of your registration, please indicate that within your cancellation notice. Cancelled membership renewals will be refunded in full.

Substitution Policy Substitutions are permitted at any time. Substitutions must be submitted in writing (email is acceptable). Substitutions will not be reviewed or processed until they are received in writing. Phone substitutions are not accepted. The substitute must be from the same firm as the original registrant, and the substitution notice must contain accurate contact information for the new registrant; otherwise, TMA cannot guarantee an accurate listing in the registration list. Substitutions must be of the same membership status/category (e.g., member, nonmember, academic); otherwise, the substitute will be invoiced for the difference in registration fees. Please note that substitutions made after September 23, 2009, will not be reflected on the registration list, per the policy outlined in this brochure.  Entire Convention: Substitution of an entire convention registration includes the fees for educational sessions, recreational activities and/or spouse/guest registration included with the original registration. If the substitute does not wish to utilize one or more of these options, TMA’s cancellation policies will be applied.  Spouse/Guest Full Registration or Event Pass: Substitutions are allowed for the spouse/guest registration options provided that the substitute is a spouse/guest of a registrant from the same firm as the original registrant, meaning spouse/guest registration is transferable only within the same firm.  Advanced Educational Session: Substitutions are allowed at any time provided that the substitute is from the same firm as the original registrant.  Membership renewals are non-transferable. In the case of a substitution for an entire convention registration that includes membership renewal, the membership renewal is retained by the original registrant.

 RECREATIONAL ACTIVITIES CANCELLATION/SUBSTITUTION POLICIES Notification of recreational activity cancellation must be submitted in writing. Cancellations will not be reviewed or processed until they are received in writing. Phone cancellations are not accepted. TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Golf Tournament Cancellation Policies On or before Wednesday, September 23, 2009, cancellation of an entire convention registration that includes the golf tournament will be refunded less a $250 processing fee. Cancellation of the golf tournament only on or before Wednesday, September 23, 2009, will be refunded less a $75 processing fee. Cancellations of any kind received after Wednesday, September 23, 2009, will not be refunded. Golf Tournament Substitution Policies Space is limited for the golf tournament. TMA will maintain a waiting list for this event. If at the time your substitution notice is received, a waiting list exists, TMA will not accept a substitute player in consideration of those individuals on the waiting list. The original registration will be treated as a cancellation and the cancellation policy previously outlined will apply for the golf tournament portion of your registration. If no waiting list exists at the time your substitution notice is received, TMA will accept in your place a substitute player who you identify; however, the substitute must be from the same firm and must be a registered attendee of the 2009 Annual Convention.

Tennis Tournament and Women’s Group Lunch The same policies detailed above for the golf tournament also apply for the tennis tournament and women’s group lunch. The only difference is the processing fee for individual cancellation of the tennis tournament and/or women’s group luncheon, which is $25 for each event.

J.W. MARRIOTT DESERT RIDGE AND THE PHOENIX EXPERIENCE Considering feedback of past attendees, who were taken by this stunning resort, TMA is thrilled return to the J.W. Marriott Desert Ridge for the third time. We’re confident that the resort will continue to provide the perfect backdrop for an incomparable experience. Reservations To reserve a room at the J.W. Marriott Desert Ridge, please call 800-835-6206 or 480-293-5000. Mention Turnaround Management Association to receive the group room rate of $292/night, single or double occupancy. These rates are only available through Monday, September 7, 2009. TMA cannot guarantee that the room block or hotel will not sell out before TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

then. Please make your reservation soon. The J.W. Marriott Desert Ridge is located at 5350 E. Marriott Drive, Phoenix, AZ 85054. The guest fax number is 480-293-3600. TMA requires that a convention registration form (which includes payment) be received within ten business days of making a hotel reservation. TMA reserves the right to terminate the hotel reservation of any individual who does not comply with this policy. Parking Valet parking is available for $25/day, plus tax, with unlimited in/out service for overnight valet parking only (unlimited in/out service is not available for daily valet parking). Self-parking is available for $10/day, plus tax, on a first-come, first- served basis. Experience the J.W. Marriott Inspired by the majesty of the Grand Canyon, the J.W. Marriott Desert Ridge redefines the resort experience. The elements of nature – fire, water, earth and sky – have been woven into the architectural design to let every guest experience the pleasures of the distinctive surroundings. Additionally, the resort offers swimming pools and wandering waterways, two 18- hole golf courses, a fitness center, full-service spa and ten eateries to accommodate every craving. Experience Phoenix Surrounded by the natural wonder of the Sonoran Desert, Phoenix offers the flavor of the Old West combined with a thriving metropolitan area brimming with cultural activity. And, Phoenix provides more than 325 days of sunshine annually. Consider the following sites as part of your Phoenix and Arizona experience:  The Heard Museum, highlighting the native cultures of the region [link to www.heard.org]  The Desert Botanical Gardens, home to the world’s largest collection of arid-land plant [link to www.dbg.org]  South Mountain Park, the largest municipal park in the world, brimming with outdoor adventure [link to http://phoenix.gov/PARKS/hikesoth.html]  The Grand Canyon, for all its majesty and wonder [link to http://www.nps.gov/grca]  Arizona Theatre Company performs in Phoenix, Tucson and Mesa http://www.arizonatheatrecompany.org  Scottsdale Museum of Contemporary Art exhibits works of modern and contemporary art, architecture and design http://www.scottsdalearts.org TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

EVENT SPONSORS  Accord Financial, Inc.  Huron Consulting Group  AlixPartners, LLP  Industrial Opportunity Partners  Atlas Partners, LLC  Interim America  BBK  KPMG LLP  BDO Consulting  LBC Credit Partners, Inc.  Big Lots Capital  Locke Lord Bissell & Liddell LLP  Bond, Schoeneck & King PLLC  The Meridian Group  CM&D  NRC Realty & Capital Advisors, LLC  CRG Partners  Proskauer Rose LLP  Carl Marks Advisory Group LLC  Quarles & Brady LLP  Deloitte Financial Advisory Services LLP  RCS Real Estate Advisors  EPIQ Systems  Republic Financial Corporation  Executive Sounding Board Associates Inc.  SB Capital Group LLC  FTI Consulting, Inc.  SSG Capital Advisors LLC  Getzler Henrich & Associates, LLC  Skadden, Arps, Slate, Meagher & Flom LLP  Gordon Brothers Group  Tucker Arensberg, P.C.  The Hilco Organization  Winston & Strawn LLP Additional Convention Sponsors Event sponsors provide financial support for TMA’s international conferences. In addition to those sponsors listed in the agenda, the following sponsors have also generously provided support for the TMA 2009 Annual Convention:  Bond, Schoeneck & King PLLC (The Wall Street Journal Room Drop – Thursday)  Deloitte Financial Advisory Services LLP (Room keys)  FTI Consulting, Inc. (Program Book/CD-Rom)  Getzler Henrich & Associates, LLC (Convention Bags)  Gordon Brothers Group (Pocket Agenda)  Interim America (The Wall Street Journal Room Drop – Thursday)  Republic Financial Corporation (Lanyards) TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

 Skadden, Arps, Slate, Meagher & Flom LLP (Program Book/CD-Rom) GENERAL INFORMATION Drink Tickets Convention registration and spouse/guest full registration includes six complimentary drink tickets that will be available in the on-site convention materials. The spouse/guest event pass includes four complimentary drink tickets. Drink tickets are required for the following events only:  Opening Reception (Wednesday, October 7)  Gala Cocktail Reception (Thursday, October 8) Drink tickets are not required at any other events. Drink tickets are for alcoholic beverages only (includes beer, wine and liquor). Soft drinks, juice and water are available at no charge. The bars at the receptions requiring drink tickets will not accept cash. Additional drink tickets may be purchased at the TMA registration desk. Tickets will only be sold in books of six for $40/book. Cyber Café While you’re away from the office, stay connected at TMA’s Cyber Café. Connect to the Internet, check email or update and print documents on one of several computer workstations. The Cyber Café is located in the TMA exhibit hall and will be open during exhibit hall hours. TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Attire  Educational Sessions: Business Casual  Social Events: Business Business Casual: Men, includes cotton pants such as khakis, polo-type or button-down collared shirts, sport coats. Women, includes slacks or cotton pants, button-down shirts or tops. Business (After Five/Cocktail): Men, includes collared, button-down shirts, suit and tie. Women, includes pant/skirt suits or dresses. VISIT THE EXHIBIT HALL Annual convention exhibitors provide critical services to corporate renewal professionals. Don’t miss this opportunity to learn how more than 80 service providers, including investors, asset-based lenders, accounts receivable outsourcing professionals, appraisers, real-estate consultants, liquidators and advisors, among others, will benefit your business. To learn more about the exhibit hall, including opportunities to exhibit, please contact Joe Karel at 312-242-6039 or [email protected].

Exhibit Hall Hours  Wednesday, October 7, 6:00 p.m. – 7:00 p.m.  Thursday, October 8, 9:45 a.m. – 12:30 p.m.; 3:00 p.m. – 7:30 p.m.  Friday, October 9, 7:30 a.m. – 11:00 a.m.

Past Exhibitors  ABF Journal  BH Properties  AccuVal Associates, Incorporated  Bayside Capital  Adams-Levine, Surety Bond Specialists  Bibby Financial Services (USA)  American Bankruptcy Institute  The Branford Group  American Board of Certification (ABC)  Bridge Finance Group  American Finasco  Brownfield Restoration Group, LLC  Angelo Gordon & Co.  Business Capital  Association of Insolvency and Restructuring Advisors  Business Capital, Risk Control Services LLC (AIRA)  CarVal Investors  Atlas Partners, LLC  Century Services (USA) Inc.  The Atwell Companies TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

 Coface Collections North America Inc.  Melville Capital Life Settlements  Commercial Finance Association (CFA)  Mesirow Insurance Services  Corporation Service Company  Mohawk Machinery  The Deal, LLC  National City Business Credit  Dow Jones  Northern Healthcare Capital  Emerald Technology Valuations, LLC  NRC Realty & Capital Advisors, LLC  Euler Hermes ACI  Premier BPO  First Capital  Rabin Worldwide  GoIndustry-DoveBid  The Receivables Exchange  Gordon Brothers Group  Republic Financial Corporation  Great American Group  Ritchie Brothers Auctioneers  Greystone Private Equity  SB Capital Group, LLC  Hunt Special Situations Group, L.P.  Sentinel Capital Partners  Insight Equity  Sierra Case Management Services, LLC  International Factoring Association  Sun Capital Group, Inc.  International Sureties, Ltd.  Tiger Valuation Services LLC  Keen Consultants, The Real Estate Division of KPMG  Trinity Financial Services LLC Corporate Finance  US Capital  Koster Industries, Inc.  V-Rooms – Virtual Data Rooms  Libra Securities, LLC  WCM Associates  Liquid Asset Partners LLC  West, a Thomson Reuters Business  Maynards Industries  Willis/HRH  Medical Capital Corporation CONTINUING EDUCATION CREDIT Educational sessions at the 2009 Annual Convention provide an overview of topics relevant to the practice of corporate renewal. There is no prerequisite or advance study necessary to attend the 2009 Annual Convention or to qualify for continuing education credit. The 2009 Annual Convention is a “group-live” educational offering. For information regarding administrative policies such as complaints or refunds, please contact TMA at 1-312-578-6900. Convention Program (excludes Advanced Educational Session)  CPAs —maximum of 7.5 hours of CPE TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

 CTPs – maximum of 7.5 hours of CPE  Attorneys— 7.5 hours (50-minute hour) or 6.25 hours (60-minute hour). CLE applications are pending with individual state bars. TMA cannot guarantee state bar approval. Please visit www.turnaround.org for updates. Advanced Educational Session  CPE—maximum 1.5 hours  CTPs—maximum 1.5 hours  CLE — 1.8 hours (50-minute hour) or 1.5 hours (60-minute hour) The Turnaround Management Association is registered with the National Association of State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding sponsors may be addressed to The National Registry of CPE Sponsors, 150 Fourth Avenue North. Ste. 700, Nashville, TN 37219-2417. Website: www.nasba.org. THANKS TO THE 2009 ANNUAL CONVENTION COMMITTEE  Chair: Robert N. Dangremond, CTP, AlixPartners, LLP  William Derrough, Moelis & Company  Holly Felder Etlin, CTP, AlixPartners, LLP  Anne M. Roslin, Platinum Funding Group  Baker A. Smith, CTP, BDO Consulting Corporate Advisors LLC  Sheila T. Smith, Deloitte Financial Advisory Services LLP  William K. Snyder, CTP, CRG Partners Group LLC  Andrew M. Toft, Andrew M. Toft Attorney at Law QUESTIONS? TMA’s professional staff team is here to help. If the person with who you need to speak is not listed below, please click here for a complete staff list.

Executive Director Linda Delgadillo, CAE 312-242-6028 or [email protected]

Registration TMA 2009 Annual Convention . “When Flat is the New Up: Turnarounds in a Troubled World”

Angela Worlds 312-242-6035 or [email protected]

General Convention, Speakers, Student Paper Competition Laura Ivaldi 312-242-6030 or [email protected]

Event Sponsorship, Exhibit Hall, Cornerstone Program Joe Karel 312-242-6039 or [email protected]

Membership Mary Carravallah 312-242-6037 or [email protected]