2003 Committee Charter : RDNThe Investment Committee is a committee of the Board. The members of the Committee are fiduciaries whose primary function is to oversee, direct and review the management of the Company's investment portfolio. In that connection, the Committee shall:
1. Review and approve management's recommended investment objectives, policies and guidelines that direct the investment of the portfolio.
2. Review and approve management's recommended portfolio financial goals and requirements, including asset allocation, risk tolerance and investment time horizon.
3. Approve the selection of all outside investment managers and other investment professionals. Other investment professionals include investment management consultants, investment custodians, and such additional specialists as the Committee or management may determine.
4. Review and evaluate the performance of the investment portfolio and the investment managers and other investment professionals regularly, to assure adherence to policy guidelines and monitor progress toward achieving investment objectives.
5. Approve the termination of investment managers and other investment professionals.
Composition of the Committee
The membership of the Committee shall consist of at least three members of the Board of Directors, each of whom shall be independent and who shall serve one-year terms; a year being defined as the period from one shareholder meeting to the next. Independence shall be as defined by the NYSE and the Company's Corporate Governance Guidelines.