Audit Committee held private sessions with the internal  auditor, as well as with the external auditor, to discuss  their findings. Members of the Executive Board were not  present at these sessions.  ANNUAL REPORT 2010   OUR GOVERNANCE  REPORT OF THE SUPERVISORY BOARD 59 The Audit Committee also discussed AEGON’s compliance  with the Sarbanes Oxley Act of the United States,  regular reports from the Group Compliance Officer on  fraud and general compliance issues. management within the company worldwide with the  Nominating Committee. AEGON’s Risk Committee convened five times in 2010,  including a combined meeting with the Audit Committee.  The members of AEGON’s Executive Board and the  company’s Chief Risk Officer attended these meetings,  while the head of the Corporate Financial Center and  AEGON USA’s Chief Investment Officer attended the  meetings occasionally. The Risk Committee assists  the Supervisory Board and Audit Committee to oversee  the activities of AEGON’s Enterprise Risk Management  framework. The Committee also advises the Executive  Board with respect to the company’s risk management  strategy and policies. Consequently, the Committee  regularly reviews the company’s Enterprise Risk  Management framework, its risk exposure and  compliance with company risk policies. In 2010, recurring  items on the agenda were the quarterly Risk Dashboard  and the Board Risk List. Other topics the Risk Committee  discussed with AEGON’s Executive Board and senior  management were market consistent pricing, capital,  AEGON’s risk tolerance, the impact of low interest rates  and increased longevity and the investment portfolio  update. The Risk Committee had a meeting with the  newly appointed Chief Risk Officer of AEGON UK during  the full Board strategy meeting in Edinburgh. AEGON’s Nominating Committee held five meetings in  2010. The Chief Executive Officer attended all meetings.  During the year, the Nominating Committee discussed  the composition of the Supervisory Board and its  committees, as well as existing and forthcoming  vacancies. It also advised the Supervisory Board on the  nominations for one reappointment at the shareholders’  meeting on April 29, 2010. The Committee agreed on an  updated Supervisory Board profile, which was approved  by the full Board on May 11, 2010. In addition, the  Nominating Committee reviewed the composition  and functioning of the Executive Board and discussed  succession planning with the CEO and AEGON’s Global  Head of HR. The CEO also discussed changes in senior  During the year, the Committee considered advice from  independent external consultants on specific topics and  ascertained that these consultants did not also advise  the members of the Executive Board. Other topics on the agenda of the Compensation  Committee during 2010 were the 2010 targets for the  Executive Board members and the scenario analysis of  payout levels under the Executive Board Remuneration  Policy. In the second half of 2010, the Committee  discussed developments regarding executive  remuneration, such as the Dutch Insurance Code, the  Capital Requirements Directive 3, the views of the  Dutch Central Bank and their possible impact on the  Remuneration Policy adopted earlier in the year. These  discussions were continued in the beginning of 2011 and  will lead to a proposal to amend the Executive Board  Remuneration Policy in 2011. The Compensation Committee also reviewed the  company’s Remuneration Policy for the members of the  Supervisory Board. As in 2009, it was decided not to  propose an increase of the base fee to shareholders, but  instead to submit two amendments for the existing fee  structure as from January 1, 2010. At their meeting on  April 29, 2010 the shareholders approved the introduction  of an attendance fee of EUR 3,000 for additional  Supervisory Board meetings above the seven regular  scheduled meetings, which members attended either in  person or by video or telephone conference. They also  approved attendance fees for Committee meetings, when  attended by video or telephone conference. AEGON’s Compensation Committee held five meetings in  2010. The Chief Executive Officer and the Chief Financial  Officer attended these meetings from time to time,  either together or separately. In the first half of the year  the Committee’s main focus was on the new Executive  Board Remuneration Policy, which was submitted to  shareholders for approval at the annual General Meeting  on April 29, 2010. When reviewing the then current  Policy, the Committee took into account international  developments regarding remuneration in general and in  the financial industry in particular. The Committee  reviewed the compensation mix – short-term versus  long-term – as well as the details of both the short-term  and long-term incentive compensation plans. The Compensation Committee  The Risk Committee  The Nominating Committee  SHARPENING OUR FOCUS