2011 03 24 Audit Committee Charter final approved by Board x

BROWN-FORMAN CORPORATION Audit Committee Charter Purpose: The Audit Committee of the Board of Directors (the “Board”) of Brown-Forman Corporation (the “Company”) is responsible for assisting the Board in its oversight of the integrity of the Company’s financial statements, audit process, system of internal controls, program for compliance with applicable governmental laws and regulations, assessment and management of policies and procedures regarding enterprise risk, and the performance of the Company’s internal audit function and independent auditor. The Audit Committee is the Board’s principal agent in assuring the qualifications and independence of the Company’s independent accountants, the integrity of management, and the adequacy of disclosures to stockholders. Committee Membership: The Audit Committee shall be composed of at least three directors, each of whom shall be independent from management and meet the applicable rules of the New York Stock Exchange (the “Exchange”) and the Securities and Exchange Commission (the “Commission”), as determined by the Board of Directors in its business judgment. If an Audit Committee member simultaneously serves on the audit committee of more than three public companies, the Audit Committee shall seek the Board’s determination as to whether this simultaneous service will impair the ability of the member to serve effectively on the Audit Committee and will disclose the Board’s determination in ...