Mike Burns

Compensation of Select Exempt Executives 12/08

Complete Record of APFC Executive Director Compensation 1991-2009

Michael J. Burns joined Alaska Permanent Fund Corporation as Executive Director in August 2004. Prior to that, he was President, Key Bank, National Association (Alaska), a subsidiary of KeyCorp, a bank based financial Services company headquartered in Cleveland, Ohio.

Hired as President, Alaska Pacific Bank, in February 1985, Mr. Burns held that position until October, 1987. At that time, Alaska Pacific Bank and it sister bank, First National Bank of Fairbanks, combined to form Key Bank of Alaska as which time Mike assumed the role of President of the new organization. In his role as President and Chief Executive Officer, Key Bank of Alaska, Burns directed its growth from eight to more than twenty branches until it became the third largest bank in Alaska. He retired on January 31, 2002. Mr. Burns resides at 1720 Douglas Highway, Douglas, Alaska 99824.

Mr. Burns was appointed to University of Alaska Board of Regents by Governor Tony Knowles for an eight year term 1997-2005. He chaired the Board of Regents 1998-2001. He has previously been a member of University of Alaska Foundation Board of Trustees 6/04-6/05, Nature Conservancy of Alaska Board of Trustees 1994-2004, Alaska Command Civilian Advisory Board, Chair, Alaska Community Foundation 2004. Mr. Burns chaired Alaska Telephone Utility (ATU) Board of Directors 1991-1998 until ATU was sold to Alaska Communications System. He was Chair, United Way of Anchorage Campaign 1987, and continues on United Way Anchorage Trustees Council, was Commissioner, Public Broadcasting Commission, member of the Board, Boys and Girls Clubs of Anchorage, Imaginarium, Alaska Children's Trust, Anchorage Concert Association, Fiscal Policy Council of Alaska, Alaska Bankers Association, and a Committee, American Bankers Association. He was inducted into Young Presidents Organization. He continues on Alaska Airlines Community Advisory Board to Present. Mike and his wife, Rebecca, are the parents of three sons and one daughter.

Mr. Burns received a Bachelor of Arts in Political Science from Knox College, Galesburg, Illinois 6/14/69, a J.D. from University of Denver School of Law 1971, and was licensed to practice law in Illinois on 6/5/75 and is currently inactive, licensed to practice in Colorado on 10/1/71 and has been inactive since 6/20/83, and Missouri on 4/29/72 but since 1994 has continued per Missouri Bar Rule 6.01(j)(3) or Category 3 “to be licensed in good standing but does not reside or practice in Missouri” and is not required to take Missouri Continuing Legal Education (MCLE).

Please compare Mr. Burns’s Category 3 Missouri law license to that of Thomas S. Obermeyer, Attorney, who has been licensed since 1990 under Missouri Bar Rule 6.01(j)(1) or Category 1 which is “actively practicing” and requires Obermeyer to take 15 hours of MCLE yearly. This is a great and expensive distinction. Mr. Obermeyer goes to the Missouri Bar Conventions each year to take 15 MCLE hours at great expense. Please contact Ms. Angie Schotsmeyer, MCLE, Missouri Bar Association, P.O. Box 2355, Jefferson City, Missouri 65102-2355 (573)638-2234 for further information.

Mr. Burns, a licensed attorney in three states, has never attempted to be licensed to practice law in Alaska by applying for membership in Alaska Bar Association even though he has resided in Alaska for 25 years. Instead, he hired Mr. Robert Valer, General Counsel, APFC, in Summer, 2008, from Broom Law Group Chartered, 1701 Pennsylvania Avenue Suite 1200, Washington, D.C. 20006. Mr. Valer was licensed to practice law in Alaska by Alaska Bar Exam results in May, 2009. Mr. Burns also hired in Summer, 2008 Mr. Jeffrey C. Scott, Chief Investment Officer, APFC, who has continued to reside with his family at 7121 St. Andrews Lane S.E., Snoqualmie, Washington 98065-9092. Mr. Valer, Mr. Scott, and Ms. Laura Achee are listed below.

Employees of Alaska Permanent Fund Corporation are exempt from Alaska State Personnel Act.

Mr. Burns had obtained 1,000 (Please check the exact number.) shares of Segilman LaSalle International Real Estate Fund on May 30, 2007 stating on his "Individual Investment Transaction Disclosure" submitted on June 4, 2007 at the bottom of the form "Segilman LaSalle is a real estate advisor to APFC." That same date 5/30/07 Burns bought 200 shares of Segilman LaSalle for his daughter, Bridget Burns, and 200 shares of Segilman LaSalle for his son, Michael Burns, Jr. as reported 6/4/07. Segilman LaSalle International Real Estate Fund is involved in the management of Tyson's Corner, McLean, Virginia, which APFC owns.

Employees of Alaska Permenant Fund who report to Mr. Burns.

Robert D. Valer, Legal Counsel 14 pages.
2009 APOC Report

Jeffery C. Scott, Chief Investment Officer 15 pages
2009 APOC Report.

Laura Achee, Director of Communications 13 pages.
2009 APOC Report

Individual Investment Transaction Disclosure and APOC Financial Disclosure Statements:

(bio and photo from Alaska Permanent Fund corporation Website)