Association of Audit Committee Members, Inc.

Member Benefits

The Association offers a number of benefits to members to enable them to carry out their obligations as audit committee members on an informed basis. Specific benefits include:

real-time e-mail alerts (usually weekly and bi-weekly) advising members of critical developments of importance to audit committee members;
quarterly teleconference on "best practices" and other current topics which enable directors to conveniently receive corporate governance credit from Institutional Shareholder Services;
assist member audit committees in their required self-evaluation at a discounted price;
potential discounts or more favorable rates from director and officer liability insurers;
access to a secure web site containing information of interest to audit committee members, such as new regulatory developments, sample committee charters and other documents, and information concerning liability insurance;
a secure message board on which members can share information and experiences, pose and answer questions, and otherwise discuss topics of interest;
the opportunity to ask questions of and receive answers from the authors of "Audit Committees," published by The Bureau of National Affairs, Inc., on an anonymous basis (limited to two times per calendar year per member);
the ability to use the AACMI symbol on shareholder material to reflect your company's adherence to strong audit committee oversight;

The Association may also advocate on behalf of audit committees in connection with legislative and regulatory proposals affecting audit committee members.

Insurance Savings

The Association has been advised that savings on director and officer liability policies may be obtainable from a number of insurers for participation by audit committee members in Association educational activities. The following are the names of three insurance brokers whom we have been advised may be able to secure such savings:

Armfield, Harrison & Thomas David L. Schaefer, CPCU, RPLU, Principal Toll Free: 800-648-4807 o Phone: 703-737-2222 Cell: 703-868-9178 o Fax: 703-771-1852 dschaefer@ahtins.com

The Association has been advised by David L. Schaefer that his firm has developed a proprietary corporate governance program for public companies entitled "Ensuring Integrity", and that several of his firm's underwriting relationships have committed to providing preferred director and officer liability insurance pricing, coverage terms and capacity for companies that participate in this program. The Association has also been advised that activities of audit committee members in the Association are consistent with this proprietary corporate governance program.

Frank Crystal & Company
Mark E. Freitas
President and Chief Operating Officer
Toll Free: 800-221-5830
Phone: 212-504-5904
Fax: 212-504-1890
mef@fcrystal.com

Frank Crystal offers a distinct alternative in insurance brokerage: the client-centric approach of a boutique with the resources and specialty expertise of a larger firm. Frank Crystal has significant expertise in the specialized insurance coverages needed to address corporate liability exposures. Our experienced Professional Liability brokers understand the coverages available in the marketplace and maintain close relationships within the underwriting community. These relationships allow us to achieve the insurance objectives of our clients and to obtain the broadest, most competitive terms, conditions and pricing for members of the Association.

Willis Group Ltd.
Bruce Batzer
Phone: 215-825-3684
Cell: 215-704-3275
Fax: 610-254-5600
bruce.batzer@willis.com

A representative of Willis Group Ltd has advised us that membership in the Association is "an important risk management consideration in negotiating rates with underwriters."