The Board recommends a vote "FOR" this Proposal.
The Board believes that the company's executive compensation program effectively reflects the objectives described in the Compensation Discussion and Analysis and therefore, recommends that shareholders vote FOR the following resolution:
RESOLVED: That the compensation paid to the company's named executive officers, as described in the Compensation Discussion and Analysis, Summary Compensation Table, and related compensation tables and accompanying narrative discussion in this proxy statement be, and it hereby is, APPROVED."
Because this vote is advisory, neither the company nor the Board is required to take action in response to the outcome of the vote on this Proposal. Shareholders can be assured, however, that the shareholder sentiment expressed by the vote will be carefully considered by the Personnel & Compensation Committee and the Board in crafting their approach to executive compensation matters.