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BERK > SEC Filings for BERK > Form 8-K on 14-Jun-2013All Recent SEC Filings

Show all filings for BERKSHIRE BANCORP INC /DE/ | Request a Trial to NEW EDGAR Online Pro



Submission of Matters to a Vote of Security Holders

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

At the Company's Annual Meeting of Stockholders held on June 10, 2013 (the "2013 Annual Meeting"), the stockholders of Berkshire Bancorp Inc. (the "Company") entitled to vote at the meeting voted on the following proposals:

(a) to elect the seven 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            12,270,105              117,706                   -0-
Dr. Joseph Fink             12,226,013              161,798                   -0-
Martin A. Fischer           12,269,795              118,016                   -0-
George Karfunkel            12,315,051               72,760                   -0-
Philippe D. Katz            12,197,562              190,249                   -0-
Moses Krausz                12,097,384              290,427                   -0-
Moses Marx                  12,166,814              220,997                   -0-

(b) To approve, on an advisory basis, the compensation paid to its named executive officers ("say-on-pay"), as disclosed in the Company's Proxy Statement relating to the 2013 Annual Meeting.

The votes cast by stockholders with respect to the approval of compensation were as follows:

For:                  12,232,148
Against:                 137,025
Abstain:                  18,637
Broker Non-Votes:            -0-

(c) To approve, on an advisory basis, the frequency of say-on-pay votes.

The votes cast by stockholders with respect to the frequency of the say-on-pay vote were as follows:

Every: One Year:         602,749
Two Years:                12,649
Three Years:          11,752,515
Abstain:                  19,898
Broker Non-Votes:            -0-

Consistent with these results, the Board of Directors of the Company determined that a say-on-pay proposal will be submitted for shareholder approval every three years until the next required vote on the frequency of say-on-pay votes.

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