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We have engaged shareowners on this issue and, based on their feedback, we believe that a significant portion of our investors would prefer an annual say-on-pay vote.

Securities and Exchange Commission Chairman Shelby, Ranking Member Sarbanes, and Members of the Committee: Thank you for inviting me to testify today about options backdating.These risks are no longer considered the sole responsibility of specialists - executives and the boards demand visibility into exposure and status so they can effectively manage the organization’s long-term strategies.Why the Board recommends holding future say-on-pay votes EVERY YEAR.That, of course, is what is meant by abusive "backdating" in today's parlance.The purpose of disguising an in-the-money option through backdating is to allow the person who gets the option grant to realize larger potential gains-without the company having to show it as compensation on the financial statements.

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