Item 8.01 Other Events.

In the proxy materials for its annual meeting of shareholders to be held on June 25, 2009, the Company disclosed compensation for the named executive officers attributable to tax gross-ups on insurance premiums and on participation in nonqualified retirement plans. In connection with a review of its executive compensation practices, the Compensation Committee of the Company's Board of Directors has determined that, effective January 1, 2010, the Company no longer will provide to its executive officers tax gross-ups on insurance premiums or on participation in nonqualified retirement plans. The Company is providing the gross-up for the remainder of calendar year 2009 because most of the tax liability already has been incurred and participants previously were advised that they would receive the benefit.

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