Item 8.01 Other Events.
Consistent with the temporary salary reductions recently implemented for Myles Odaniell, the Company's President and Chief Executive Officer, and other members of the senior leadership team, the Board of Directors of the Company has approved a temporary 10% reduction in the cash component of director compensation for Board members, effective April 1, 2009. These temporary reductions in compensation are part of the Company's ongoing cost reduction initiative aimed at addressing the current economic downturn.