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Stock Option Plan

12 Months Ended

Dec. 31, 2013

Note 15:

Stock Option Plan

During fiscal year 2004, the Company adopted a Stock Option Plan that provided for the issuance of 142,857 incentive options and 61,224 non-incentive options with respect to authorized common stock. At December 31, 2013, all options under the 2004 Plan were expired. The Company recognized compensation expense related to stock option awards based on the fair value of the option award at the grant date. Compensation cost was recognized over the vesting period. There were no options granted during the years ended December 31, 2013 and 2012. There was no compensation expense recognized for the stock option plan during the years ended December 31, 2013 and 2012, as all options were fully vested prior to these periods. As of December 31, 2013 and 2012, there was no unrecognized compensation cost related to non-vested share-based compensation arrangements granted under the Plan. The cost was recognized in fiscal year ended March 31, 2005 when the Company accelerated full vesting of all the stock options at that time

A summary of option activity under the Plan for the year ended December 31, 2013 is presented below:

	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Outstanding at beginning of period		58,908	$	13.95
Granted		—		—
Exercised		—		—
Forfeited		17,704	$	13.95
Expired		41,204	$	13.95
Outstanding at end of period		—	$	—
Options exercisable at period- End		—	$	—

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

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