Subsequent Events

6 Months Ended

Jun. 30, 2011

Subsequent Events [Abstract]

Subsequent Events [Text Block]

Subsequent Events

On July 25, 2011, the Board of Directors (the "Board") of the Company appointed William J. Simpson, Jr., as President and Chief Operating Officer of the Company and Kenneth S. George, as Chief Executive Officer of the Company. The appointments followed the acceptance by the Board of Directors of David S. Boone's resignation from his positions with the Company, including his positions as President, Chief Executive Officer and director, earlier that day.

In connection with his resignation, Mr. Boone entered into a severance agreement and general release with the Company, effective July 25, 2011. Under the agreement, Mr. Boone will receive, in addition to any base compensation owed and earned but unused vacation pay, severance payments over a six month period that in the aggregate equal six months' worth of his annual base compensation, and has the right to continue participation in the Company-sponsored group health insurance plan in accordance with COBRA. In addition, the terms of his vested but unexercised stock options will be extended to the date that is 60 days from the date of the public release by the Company of its earnings for the quarter ended June 30, 2011.