JUGGLING IN A VOLATILE WORLD 2011 National Treasurers Conference

Conference Program

The National Association of Corporate Treasurers June 1-3, 2011 Westin New York at Times Square Hotel

JUGGLING IN A VOLATILE WORLD 1 Table of Contents

PROGRAM AT A GLANCE 3

GUEST SPEAKERS 4

BOARD OF DIRECTORS 6

CONFERENCE AGENDA 8

SPONSORS 12 PROGRAM AT A GLANCE

Wednesday, June 1 1:00 p.m. – 5:30 p.m. Conference Registration Ambassador Foyer (2nd Floor) 6:30 p.m. – 8:30 p.m. Opening Reception and Dinner Ambassador 2 (2nd Floor) 10:00 p.m. – 11:00 p.m. Hospitality Suite at the Westin New York at Times Square Ambassador 1 (2nd Floor) Thursday, June 2 7:30 a.m. – 5:00 p.m. Conference Registration Ambassador Foyer (2nd Floor) 7:30 a.m. – 8:30 a.m. Networking Breakfast Ambassador 2 (2nd Floor) 7:30 a.m. – 8:30 a.m. Spouse / Guest Breakfast Shula’s Restaurant 8:30 a.m. – 12:30 p.m. Open Forum Ambassador 3 (2nd Floor) 10:30 a.m. – 10:45 a.m. Refreshment Break Ambassador Foyer (2nd Floor) 12:30 p.m. – 2:00 p.m. Lunch and Guest Speaker – The Honorable Gary Gensler Ambassador 2 (2nd Floor) 2:00 p.m. – 3:00 p.m. New Financial Regulations – How Does This Affect Your Company Ambassador 3 (2nd Floor) 3:00 p.m. – 3:30 p.m. Refreshment Break Ambassador Foyer (2nd Floor) 3:30 p.m. – 5:00 p.m. Defined Contribution Plans and Investments Ambassador 3 (2nd Floor) 6:00 p.m. – 10:30 p.m. Reception and Dinner at the New York Stock Exchange Meet in the lobby of the hotel. Buses will depart from the Westin New York at Times Square promptly at 6:00 p.m. 10:30 p.m. – 11:30 p.m. Hospitality Suite Ambassador 1 (2nd Floor) Friday, June 3 7:30 a.m. – 12:30 p.m. Conference Registration Ambassador Foyer (2nd Floor) 7:30 a.m. – 8:30 a.m. Continental Breakfast with Guest Speaker – Ioana Barza Minette Room (4th Floor) 7:30 a.m. – 8:30 a.m. Spouse / Guest Breakfast Shula’s Restaurant 8:30 a.m. – 10:00 a.m. Loan Syndications – Bankers’ Perspective Ambassador 3 (2nd Floor) 10:00 a.m. – 10:15 a.m. Refreshment Break Ambassador Foyer (2nd Floor) 10:15 a.m.– 11:45 a.m. Loan Syndications – Treasurers’ Perspective Ambassador 3 (2nd Floor) 11:45 a.m. NACT New Initiatives and Annual Membership Business Meeting Ambassador 3 (2nd Floor) 12:15 p.m. National Conference Adjourns

JUGGLING IN A VOLATILE WORLD 3 Guest Speakers

The Honorable Jimmy Lee Gary Gensler Vice Chairman, JPMorgan Chase & Co. and Chairman, Commodity Futures Co-Chairman, Investment Bank Trading Commission James B. Lee, Jr. is Vice Chairman of Gary Gensler was sworn in as the Chairman of the JPMorgan Chase & Co. and Co-Chairman Commodity Futures Trading Commission on May 26, of JPMorgan – its Investment Bank. Mr. Lee 2009. Chairman Gensler previously served at the U.S. ran Chemical’s and then Chase’s Investment Bank until Department of the Treasury as Under Secretary of 2001 and founded several of its major businesses. Mr. Lee Domestic Finance (1999- 2001) and as Assistant Secretary has financed and advised on many of the most historic of Financial Markets (1997-1999). He subsequently served transactions in the United States over his 35 year career as a Senior Advisor to the Chairman of the U.S. Senate with JPMorgan Chase. During the last 12 months Mr. Banking Committee, Senator Paul Sarbanes, on the Lee advised GE on its pending $30 billion sale of NBC to Sarbanes-Oxley Act, reforming corporate responsibility, Comcast, represented United Airlines in its merger with accounting and securities laws. Continental Airlines, and most recently, led the JPMorgan team that led the General Motors IPO, the largest IPO in As Under Secretary of the Treasury, Chairman Gensler was history. He is a member of Morgan’s Executive Committee. the principal advisor to Treasury Secretary Robert Rubin and later to Secretary Lawrence Summers on all aspects of Mr. Lee joined Chemical Bank in 1975 and held various domestic finance. The office was responsible for formulating assignments in specialist lending areas until 1980, when he policy and legislation in the areas of U.S. financial markets, founded and ran Chemical’s merchant bank in Australia. public debt management, the banking system, financial services, fiscal affairs, federal lending, Government Mr. Lee is widely credited as the architect of the modern Sponsored Enterprises, and community development. day syndicated loan market. In 1982, he founded the In recognition of this service, he was awarded Treasury’s bank’s loan syndications unit in New York, which was the highest honor, the Alexander Hamilton Award. beginning of Chemical’s and then Chase Manhattan’s investment banking business. Following Chemical’s Prior to joining Treasury, Chairman Gensler worked for merger with Manufacturers Hanover Trust Company, Mr. 18 years at Goldman Sachs, where he was selected as Lee founded the Bank’s first public securities business a partner; in his last role he was Co-head of Finance. since Glass-Steagall, which was their high yield bond Chairman Gensler is the co-author of a book, The Great business. He simultaneously formed the bank’s first Mutual Fund Trap, which presents common sense organized coverage of private equity firms as a stand investment advice for middle income Americans. He is alone industry group and subsequently started the a summa cum laude graduate from the University of bank’s first M&A practice in 1994. By organizing high Pennsylvania’s Wharton School in 1978, with a Bachelor of yield with loan syndications and private equity coverage, Science in Economics and received a Master of Business and the newly formed M&A group, this led to a variety of Administration from the Wharton School’s graduate market innovations which Chase pioneered. division in 1979. He lives with his three daughters outside of Baltimore, Maryland. Mr. Lee himself has received many industry and national awards. Mr. Lee sits on several Boards and is active in certain charities. The two charities that are most important to him are the New York Police & Fire Widows’ and Children’s Benefit Fund and the Inner City Scholarship Fund.

Mr. Lee received a B.A. from Williams College, where he double majored in Economics and Art History.

4 2011 National Treasurers Conference Mike Cavanagh Ioana Barza Chief Executive Officer of JPMorgan Chase’s Director of Analytics Treasury & Securities Services Thomson Reuters LPC

Mike Cavanagh was named Chief Executive As a Director of Analytics at Thomson Officer of JPMorgan Chase’s Treasury & Reuters LPC, Ioana Barza writes and presents Securities Services unit in June 2010. As one of the world’s frequently on the state of the global credit markets with largest cash management providers and a market leader, TSS a special focus on loan capital markets to the regulatory, processes trillions of dollars of transfers daily and is also a corporate borrower, banking, and private equity leading global custodian. communities, including the International Association of Credit Portfolio Managers (IACPm), Federal Reserve, Prior to being named CEO, Cavanagh was the Chief Financial OCC, Turnaround Management Association, Association Officer of JPMorgan Chase for six years. Prior to this role, he of Financial Professionals (AFP), Business Banking Board, was head of Middle Market Banking and before that he was LSTA, the Syndicated Loans Symposium, the Thomson senior vice president and Chief Administrative Officer of Reuters Annual Loan Conference, Equity Sponsor Commercial Banking at Bank One as of February 2003, with Summits, and others. added responsibilities as Chief Operating Officer for Middle Market beginning August 2003. Ms. Barza has been with Thomson Reuters LPC since 1999. She provides insight and analysis related to the global From 2001, Cavanagh was Treasurer for Bank One with credit markets and moderates roundtables – a gathering responsibilities for funding, capital planning, asset and of senior buyside and sellside representatives focused on liability management and interest rate risk management. investment grade lending, middle market lending, and He joined Bank One in May 2000 as head of Strategy the overall loan market. and Planning. Prior to joining Thomson Reuters LPC, Ms. Barza Before joining Bank One, Cavanagh spent seven years focused on environmental finance initiatives with with Citigroup and its predecessors. the Environmental Protection Agency’s (EPA) Office of International Activities. She has also worked Cavanagh holds a Bachelor of Arts degree in history from at the Overseas Private Investment Corporation Yale University and a Juris Doctor degree from the University (OPIC) in Washington, DC, evaluating the economic of Chicago. Cavanagh is a trustee of the Economic Club of and environmental impacts of proposed overseas New York, and serves on the boards of the Alvin Ailey Dance investments. Ms. Barza has a BA in environmental sciences Foundation and the Steppenwolf Theatre Company. and international relations from Northwestern University and a graduate degree in economics from the George Washington University.

JUGGLING IN A VOLATILE WORLD 5 NACT Board of Directors (July 2010-June 2011)

The NACT Board is comprised Board Officers SECRETARY/TREASURER CHAIRMAN Ramon Yi of member treasurers and Scott Morrison Senior Director of Finance acts in the best interests of the Senior Vice President PORT OF HOUSTON AUTHORITY and Chief Financial Officer membership. All Board members BALL CORPORATION IMMEDIATE PAST CHAIRMAN are accessible to the NACT Bradley Fox PRESIDENT Vice President & Treasurer membership and feedback is Thomas C. Deas, Jr. SAFEWAY INC. welcomed on all NACT topics. (2011 National Conference Chair) Vice President & Treasurer BOARD MEMBERS In recent months, the Board FMC CORPORATION Victor R. Allen has approved two advocacy EXECUTIVE VICE PRESIDENT David A. Bass positions urging restraint on Kimberly A. Hunter Vice President & Treasurer of proposed regulations for the Corporate Treasurer Global Operations CORN PRODUCTS INTERNATIONAL, INC. ALCON LABORATORIES, INC. money market fund industry and OTC Derivatives, and Board Executive Committee Officers have participated on Washington task forces to further this message. The NACT also sends an officer to represent the organization at the Annual Conference of the International Group of Treasury Associations, a global forum to share information on issues globally affecting the treasury and finance professions. George Bitto Michael J. Gannon William Mekrut Vice President and Treasurer Vice President & Treasurer AIR PRODUCTS & CHEMICALS INC. Gerard A. Halpin III FM GLOBAL President & Chief Executive Officer Jonathan Clark SIEMENS CAPITAL COMPANY LLC Mark W. Peterson Executive Vice President & Treasurer Senior Vice President & Treasurer SALLIE MAE, INC. Mary Dean Hall THE SERVICEMASTER COMPANY Vice President and Treasurer J. Gregory Coffey EASTMAN CHEMICAL COMPANY Ruud Roggekamp Vice President & Treasurer Assistant Treasurer, Corp. Finance SALLY BEAUTY HOLDINGS, INC. Richard Laiderman & Banking Treasurer THE BOEING COMPANY Patrick J. Flanagan VISA, INC. Vice President & Treasurer Mark Rothleitner 24 HOUR FITNESS WORLDWIDE Karen N. Latham Treasurer Martin J. Schroeter TTX COMPANY Vice President & Treasurer IBM Paulette M. Mehas Vice President, Treasury & Investments Erin Selleck First Republic Bank Executive Vice President & Treasurer UNION BANK Irina Simmons Senior Vice President & Treasurer EMC CORPORATION

Rosa C. Stroh Vice President & Treasurer THE HERSHEY COMPANY

William H. Van Lopik Vice President & Corporate Treasurer S.C. JOHNSON & SON, INC. 2011 NACT National Treasurers Conference Agenda

Wednesday, June 1, 2011 1:00 p.m. – 5:30 p.m. Conference Registration Ambassador Foyer (2nd Floor) 6:30 p.m. – 8:30 p.m. Opening Reception and Dinner Sponsored by Standard & Poor’s Ambassador 2 (2nd Floor) Join us for this first opportunity to network with other treasurers during the opening conference reception. 10:00 p.m. – 11:00 p.m. Hospitality Suite at the Westin New York Times Square Hotel Ambassador 1 (2nd Floor)

8 2011 National Treasurers Conference Thursday, June 2, 2011 7:30 a.m. – 5:00 p.m. Conference Registration Ambassador Foyer (2nd Floor) 7:30 a.m. – 8:30 a.m. Networking Breakfast Ambassador 2 (2nd Floor)

Begin the conference with timely and relevant breakfast roundtable dis- cussions – “Treasurers Talking to Treasurers”. Activities and issues specific to the various industries and regions are discussed, and members are invited to provide direct input and suggestions to the NACT Board of Directors on ways to increase the value of NACT membership and meetings.

7:30 a.m. – 8:30 a.m. Spouse / Guest Breakfast Shula’s Restaurant 8:30 a.m. –12:30 p.m. Open Forum Ambassador 3 (2nd Floor) Moderators: Mark Peterson, Senior Vice President and Treasurer, The Servicemaster Company Mary Dean Hall, Vice President and Treasurer, Eastman Chemical Company

Our most popular session of the National Conference! This is your chance to share your knowledge and experiences, as well as ask questions and gain insights from your fellow Treasurers on the latest financial topics. This all takes place in a candid, open forum setting. 10:30 a.m. – 10:45 a.m. Refreshment Break Ambassador Foyer (2nd Floor) 12:30 p.m. – 2:00 p.m. Lunch and Guest Speaker – The Honorable Gary Gensler Ambassador 2 (2nd Floor) 2:00 p.m. – 3:00 p.m. New Financial Regulations – How Does This Affect Your Company Ambassador 3 (2nd Floor)

Moderator: Robert Del Bene, Vice President and Treasurer, IBM Panelists: Thomas Deas, Vice President and Treasurer, FMC Corporation Tammy Evans, Director of Global Funding, IBM Bradley Fox, Vice President and Treasurer, Safeway, Inc. Scott Morrison, Senior Vice President and Chief Financial Officer, Ball Corporation

Following the address by CFTC Chairman Gary Gensler on the implementation of the dozens of rules required under the Dodd-Frank Act, the panel of treasurers, all of whom have been active in the regulatory process, will present their views and solicit discussion from attendees. We will address the following questions: – What should treasurers be doing now to prepare their companies for the future? – What will be the impact on capital structure, financing decisions, strategy and risk management? 3:00 p.m. – 3:30 p.m. Refreshment Break Ambassador Foyer (2nd Floor)

JUGGLING IN A VOLATILE WORLD 9 2011 NACT National Treasurers Conference Agenda

3:30 p.m. – 5:00 p.m. Defined Contribution Plans and Investments Ambassador 3(2nd Floor)

Moderator: Rosa Stroh, Vice President and Treasurer, The Hershey Company Panelists: Richard Davies, Managing Director, Defined Contribution, Russell Investments John Miller, CFA, Head of Defined Contribution, PIMCO Bill McDermott, Head of Defined Contribution, Goldman Sachs Asset Management 6:00 p.m. – 10:30 p.m. Reception and Dinner at the New York Stock Exchange Meet in the lobby of the hotel. Buses will depart from the Westin New York at Times Square promptly at 6:00 p.m. Speakers: Jimmy Lee, Vice Chairman, JPMorgan Chase & Co. and Co-Chairman, Investment Bank Mike Cavanagh, Chief Executive Officer of JPMorgan Chase’s Treasury and Securities Services

10:30 p.m. – 11:30 p.m. Hospitality Suite Ambassador 1 (2nd Floor)

10 2011 National Treasurers Conference Friday, June 3, 2011 7:30 a.m. – 12:30 p.m. Conference Registration Ambassador Foyer (2nd Floor) 7:30 a.m. – 8:30 a.m. Breakfast Session with Guest Speaker – Ioana Barza, Director of Analytics, Thomson Reuters LPC Minette Room (4th Floor) 7:30 a.m. – 8:30 a.m. Spouse / Guest Breakfast Shula’s Restaurant 8:30 a.m. – 10:00 a.m. Loan Syndications – Bankers’ Perspective Ambassador 3 (2nd Floor)

Moderator: George Bitto, Vice President and Treasurer, Air Products & Chemicals, Inc. Panelists: Thomas Cassin, Director, JPMorgan Securities LLC Peter Hall, Managing Director, Syndicated Capital Markets, Bank of America Merrill Lynch Peter Klein, Managing Director, Loan Markets, The Royal Bank of Scotland Christina Padgett, Senior Vice President, Corporate Finance, Moody’s Investors Service

How will the significant increase in maturing revolvers change companies’ debt portfolios? The panel will discuss the impact of new bank structures, pricing grids, reduced number of banks, and bank appetite for credit. 10:00 a.m. – 11:15 a.m. Refreshment Break Ambassador Foyer (2nd Floor) 10:15 a.m. – 11:45 a.m. Loan Syndications – Treasurers’ Perspective Ambassador 3 (2nd Floor)

Moderator: Ruud Roggekamp, Assistant Treasurer, Corporate Finance and Banking, The Boeing Company Panelists: Nicholas Bijur, Treasurer, Pacific Gas & Electric Corporation Bradley Fox, Vice President and Treasurer, Safeway, Inc. Ann Svoboda, Treasurer, Carestream Health, Inc. Kevin Wilson, Vice President and Treasurer, Mead Johnson Nutrition Company

Treasurers who have recently completed renewals of their credit agreements will share their experiences on structuring, bank appetites, multi-currency availability and other issues relevant to you and your company. 11:45 a.m. – 12:15 p.m. NACT New Initiatives and Annual Membership Business Meeting Ambassador 3 (2nd Floor)

We look forward to seeing you at the 2011 Fall Day of Technical Discussions on Thursday, November 3rd at the Hyatt Regency Hotel in Rosemont, Illinois.

JUGGLING IN A VOLATILE WORLD 11 Sponsors

The National Association of Corporate Treasurers gratefully acknowledges the following companies for providing financial support to assist us in achieving greater communication among our members: —