Summary of Didd-Frank Act Regarding Corporate Governance, Proxy, Compensation and Other Matters


As you know, on July 21, 2010, President Obama signed the Dodd Frank Wall Street Reform and Consumer Protection Act (the "Act" or the "Dodd-Frank Act"). The Act covers a wide variety of topics, many of which are not directly applicable to the Company. However, the corporate governance, executive compensation, proxy and certain other provisions of the Act will apply to the Company as a smaller reporting company. The purpose of this memorandum is to describe these provisions.


The following is a brief summary of the corporate governance, executive compensation, proxy and other provisions of the Dodd-Frank Act that may apply to the Company...

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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