Summary of BERKSHIRE BANCORP INC /DE/

Item 5.07 Submission of Matters to a Vote of Security Holders.

At the Company's Annual Meeting of Stockholders held on May 15, 2012, the stockholders of Berkshire Bancorp Inc. (the "Company") entitled to vote at the meeting voted to elect the six individuals named below to serve as directors of the Company to hold office until the next Annual Meeting of Stockholders and until their successors have been duly elected and qualified.

The votes cast by stockholders with respect to the election of directors were as follows:

   Director                  Votes Cast "For"       Votes Withheld       Broker  Non-Votes

   William L. Cohen                11,984,094               57,595                     -0-
   Martin A. Fischer               11,979,902               61,787                     -0-
   Moses Krausz                    11,910,294              131,395                     -0-
   Moses Marx                      11,919,285              122,404                     -0-
   Steven Rosenberg                11,913,141              128,548                     -0-
   Randolph B. Stockwell           12,000,210               41,479                     -0-