1.

Call to order Executive Session

C. Karnei

12:30pm

2.

a.  Announcement of proxies

C. Karnei

b.  Approval of executive session minutes (Vote) (09/21/10)

C. Karnei

c.  Internal Audit status report

B. Wullenjohn

d.  Review Draft 2011 Internal Audit Plan

B. Wullenjohn

e.  2011 Internal Audit Budget and Resources (Vote)

B. Wullenjohn/    T. Doggett

f.  EthicsPoint Historical Metrics and Trends

B. Wullenjohn

g.  EthicsPoint monthly update

B. Wullenjohn

h.  Quarterly private discussion with Chief Audit Executive

B. Wullenjohn

3.

Contracts, personnel, litigation and security

Various

Recess Executive Session

Convene General Session

4.

Approval of general session minutes (Vote) (09/21/10)

C. Karnei

5.

Review assumptions and preliminary schedules for the 2011 annual operating budget

M. Petterson

6.

Nodal credit (Vote)

-  Oliver Wyman report on Nodal credit policy and practices

Oliver Wyman

-  ERCOT credit status and recommendation

C. Yager

-  CWG status and recommendation

T. Nikazm

7.

Discussion of SAS 70 transition to Nodal

C. Moseley

8.

Committee Briefs (Q&A only)

All

9.

Future agenda items

M. Petterson

10.

Other business

M. Petterson

Adjourn meeting

C. Karnei

3:00pm