| 2003-11-10 |
William E. Bennett Board Term: Annual Private Investor; 141 N/A
333 West Wacker Drive Member (except for previously President and
Chicago, IL 60606 New York C.E.O., Draper & Kramer,
(10/16/46) Value) New Inc. (1995-1998). Prior
York Value: thereto, Executive Vice
2003 President and Chief
Credit Officer of First
Chicago Corporation and
its principal subsidiary,
The First National Bank
of Chicago.
...
The table below shows, for each continuing Board Member (except Mr. Bennett who
was appointed to the Board of each Fund on July 29, 2003) who is not affiliated
with Nuveen or the Adviser, the aggregate compensation (i) paid by each Fund to
each continuing Board Member for its last fiscal year and (ii) paid (including
deferred fees) for service on the boards of the Nuveen open-end and closed-end
Funds managed by NAC ("NAC Funds") and NIAC ("NIAC Funds") for the calendar year
ended 2002. Mr. Schwertfeger, a Board Member who is
12
an interested person of each Fund, does not receive any compensation from a Fund
or any Nuveen funds.
AGGREGATE COMPENSATION FROM THE FUNDS
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INSURED
NEW YORK NEW YORK NEW YORK NEW YORK NEW YORK NEW YORK
CONTINUING BOARD MEMBERS VALUE PERFORMANCE(1) INVESTMENT(1) SELECT(1) QUALITY(1) PREMIUM
--------------------------------------------------------------------------------------------------------------
Robert P. Bremner $324 $779 $917 $1,186 $1,214 $425
Lawrence H. Brown $329 $784 $923 $1,194 $1,222 $431
Anne E. Impellizzeri $292 $721 $848 $1,106 $1,129 $382
Peter R. Sawers $318 $820 $965 $1,249 $1,278 $416
William J. Schneider $321 $818 $969 $1,254 $1,284 $420
Judith M. Stockdale $321 $728 $857 $1,108 $1,134 $420
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AGGREGATE COMPENSATION FROM THE FUNDS
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INSURED INSURED TOTAL COMPENSATION FROM
NEW YORK NEW YORK NEW YORK NEW YORK NUVEEN FUNDS PAID TO
CONTINUING BOARD MEMBERS DIVIDEND DIVIDEND 2 DIVIDEND TAX-FREE BOARD MEMBERS
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Robert P. Bremner $451 $314 $392 $102 $77,500
Lawrence H. Brown $458 $319 $398 $153 $82,000
Anne E. Impellizzeri $408 $281 $354 $ 79 $77,500
Peter R. Sawers $442 $307 $384 $200 $79,250
William J. Schneider $446 $310 $388 $101 $77,500
Judith M. Stockdale $446 $310 $388 $101 $77,750
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...
The Board has five standing committees: the executive committee, the audit
committee, the governance committee, the dividend committee and the valuation
committee.
Peter R. Sawers and Timothy R. Schwertfeger currently serve as members of the
executive committee of the Board of each Fund.
...
Lawrence H. Brown and Timothy R. Schwertfeger are current members of the
dividend committee.
...
Lawrence H. Brown and Judith M. Stockdale are current members of the valuation
committee for each Fund.
...
Each Fund's Board has an audit committee composed of Independent Board Members
who are "independent" as that term is defined in Section 303.01(B)(2)(a) and (3)
of the New York Stock Exchange's listing standards or Section 121(a) of the
American Stock Exchange's listing standards, as applicable. The audit committee
monitors the accounting and reporting policies and practices of the Funds, the
quality and integrity of the financial statements of the Funds, compliance by
the Funds with legal and regulatory requirements and the independence and
performance of the external and internal auditors. The audit committee reviews
the work and any recommendations of the Fund's independent auditors. Based on
such review, it is authorized to make recommendations to the Board. A copy of
the Audit Committee Charter is attached to the proxy statement as Appendix A.
The audit committee of each Fund held three (3) meetings during its last fiscal
year.
...
The members of the committee are:
William E. Bennett* Robert P. Bremner
Lawrence H. Brown Anne E. Impellizzeri
Peter R. Sawers William J. Schneider
Judith M. Stockdale
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