Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers, Compensatory Arrangements of Certain Officers

The Company has implemented a salary reduction program that became effective on April 1, 2009. From that date, the Company has reduced salaries of the employees in its corporate headquarters and its United States subsidiary by the amount of the cost-of-living increases instituted in those units last October. In addition, employees in those units who make more than $100,000 in base annual salary had their salaries reduced by an additional 6% of the amount over $100,000. Finally, the Company formally eliminated any corporate management incentive compensation for senior employees for fiscal year 2009.

As a result, the base salaries for the following officers were reduced as follows: 8.5% for Nicholas R. Schacht, the Company's Chief Executive officer; 7.8% for Charles R. Waldron, the Company's Chief Financial Officer; 7.2% for David Booker, the Company's Chief Operating Officer;, and 6.8% for Magnus Nylund, the Company's Chief Information Officer.

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