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Chairman of Compensation Committee
Since 1997, Mr. Drake has acted as Managing Director of CIP Management, a private equity group focused on investments in mining and natural resources, which he also co-founded. He is a director of Jackson Hewitt, the tax preparation service, where he serves on the corporate governance and compensation committees. Since 1995, he has been a director of Parsons Brinckerhoff, a $1.7 billion employee-owned global infrastructure engineering firm, where he is chair of the audit committee, and a member of the finance committee. Mr. Drake is chairman of the Hyperion Funds, three NYSE-traded closed-end funds invested in mortgage-backed securities, where he heads the nominating committee and is a member of the audit committee. He is also a trustee for the Excelsior Funds, sponsored by U.S. Trust/Schwab, where he is chair of the audit committee and a member of the nominating committee. Active in community service, Mr. Drake is a director of the Animal Medical Center of New York and a member of the drawing committee of the Whitney Museum. From 1988 to 1993, he was a trustee of the Lebanese-American University in Beirut, Lebanon. Mr. Drake has been a director of the Corporation since April 2005. His current term as director expires at the annual meeting in 2008.
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