The Board will convene in Executive Session at 8:05 a.m. and will conclude by 9:00 a.m. The phone will remain silent until they return. The purpose of the Executive Session is to discuss with legal counsel potential litigation to which the Exchange is likely to become a party, or a matter in which the threat of litigation has been made. Discussion of this matter with legal counsel in open session would likely result in adverse legal or financial consequence to the Exchange. No final action will be taken at the Executive Session.