Share Based Compensation (Tables)

12 Months Ended

Dec. 31, 2012

	Grant date	Final vesting date	Total shares granted		Grant Date Fair Value
A.	April 19, 2011	April 19, 2014	100,000	$	11.050
B.	July 14, 2011	April 19, 2014	8,000	$	10.735
C.	December 5, 2011	December 31, 2014	209,000	$	10.230
D.	January 2, 2012	December 31, 2014	8,000	$	8.660
E.	February 3, 2012	December 31, 2014	1,000	$	8.275
F.	November 14, 2012	December 31, 2014	315,000	$	5.345

Activity for non-vested share awards

	Number of shares		Weighted Average Grant Date Fair Value
Non-vested, December 31, 2011	317,000	$	10.515
Granted	324,000	$	5.489
Vested	(108,667)	$	10.47
Non-vested, December 31, 2012	532,333	$	8.430

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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