0-50481
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56-1953785
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(Commission
File Number)
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(IRS
Employer Identification No.)
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£
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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£
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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£
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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£
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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·
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Each
non-executive Board member shall be eligible to receive nonqualified stock
options for up to an aggregate of 45,000 shares per year based
upon the number of meetings attended by the non-executive Board member
during the year The option exercise prices shall be equal
to the closing price of the Common Stock on the grant date. The options
shall have 10-year terms and vest, as long as the director remains on the
Board, on a monthly basis over a 12-month period beginning on the date of
grant. Unvested options expire upon resignation or termination from the
Board.
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·
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In
addition, each Audit Committee member shall be eligible to receive a
nonqualified stock option for up to an aggregate of 15,000 shares per year
based the number of Audit Committee meetings attended by the Audit
Committee member during the year. The option exercise prices
shall be equal to the closing price of the Common Stock on the grant date.
The options shall have 10-year terms and vest, as long as the director
remains on the Board, on a monthly basis over a 12-month period beginning
on the date of grant. Unvested options expire upon resignation or
termination from the Board.
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