1.

Call to order Executive Session

C. Karnei

7:30am

2.

a.  Announcement of proxies

C. Karnei

7:31am

b.  Approval of executive session minutes (Vote) (4/20/10)

C. Karnei

7:32am

c.  Review of Market Reform’s Internal Audit staffing recommendations

B. Wullenjohn /    T. Doggett

7:35am

d.  Discussion of proposed F&A survey of Internal Audit

B. Wullenjohn

7:50am

e.  Update of 2010 Internal Audit Goals

B. Wullenjohn

8:00am

f.  Internal Audit status report

B. Wullenjohn

8:10am

g.  EthicsPoint update

B. Wullenjohn

8:15am

h.  Discussion of debt financing proposal (Vote)

C. Yager

8:20am

i.  Preview of Board insurance update

C. Yager

8:45am

3.

Contracts, personnel, litigation and security

Various

8:50am

Recess Executive Session

8:55am

Convene General Session

4.

Approval of general session minutes (Vote) (04/20/10)

C. Karnei

8:55am

5.

Approval of Internal Audit department charter (Vote)

B. Wullenjohn

8:56am

6.

Approval of debt financing proposal (Vote)

C. Karnei

8:58am

7.

Annual review of Market Credit Risk Corporate Standard (Vote)

R. Baker

9:00am

8.

Review the Company’s dealings with any financial institutions that are also market participants

L. Swanson

9:20am

9.

Preapproval of non-audit services from the independent auditor (Vote)

M. Petterson

9:25am

10.

Review the procedures for handling reporting violations

M. Petterson

9:35am

11.

Committee Briefs (Q&A only)

All

9:40am

12.

Future agenda items

M. Petterson

9:45am

13.

Other business

M. Petterson

9:50am

Adjourn ISO meeting

C. Karnei

9:55am