Subsequent Events

6 Months Ended

Jun. 30, 2011

15.	Subsequent Events

On July 12, 2011, the 2011 Recognition and Retention Plan and Trust Agreement (“2011 RRP”), a stock-based incentive plan, was approved by the shareholders. The aggregate number of plan shares available for distribution pursuant to this Plan shall be 49,534 shares of Common Stock, subject to adjustment as provided for in the Plan. Such shares shall be purchased (from the Company and/or, if permitted by applicable regulations, from shareholders thereof) by the Trust with funds contributed by the Company. Shares subject to awards under the 2011 RRP shall vest at a rate no more rapid than 20% of the aggregate number of shares covered by the award as of each annual anniversary of the date of grant of the award, with such vesting rate to be determined by the committee administering the Plan.

On July 12, 2011, the 2011 Stock Option Plan (“the 2011 Option Plan”) was approved by the shareholders. Under the 2011 Option Plan, 123,836 shares of Common Stock, subject to adjustments as provided for in the Plan, are reserved for the grant of stock options to directors, officers and employees. Options shall become vested and exercisable at a rate of 20% per year, commencing one year from the date of grant. The options expire in ten years. The per share price at which the subject Common Stock may be purchased upon exercise of an stock option under the 2011 Option Plan shall be no less than 100% of the Fair Market Value (as defined in the 2011 Option Plan) of a share of Common Stock at the time such stock option is granted, subject to adjustments as set forth in the Plan.