Stock Awards Plan

9 Months Ended

Sep. 30, 2011

Stock Awards Plan

STOCK AWARDS PLAN

NOTE 6 — STOCK AWARDS PLAN:

The Company's 2008 Stock Awards Plan (the "2008 Plan") was approved at the Company's annual meeting of shareholders held on June 3, 2008. The 2008 Plan became effective April 9, 2008, and terminates on April 8, 2018. Subject to certain adjustments, 2,000,000 shares of Common Stock may be issued pursuant to awards under the 2008 Plan. A maximum of 80,000 shares may be granted in any one year in any form to any one participant, of which a maximum of: (i) 50,000 shares may be granted to a participant in the form of stock options; and (ii) 30,000 shares may be granted to a participant in the form of Common Stock or restricted stock. The 2008 Plan will be administered by a committee of the Board of Directors. Employees, including any employee who is also a director or an officer, consultants, and outside directors of the Company, are eligible to participate in the 2008 Plan. As of September 30, 2011, no options had been issued under the 2008 Plan.