Overview

On June 29, 2010, a U.S. House of Representatives and Senate
conference committee finalized the text of the financial reform legislation
that is now titled the Dodd-Frank Wall Street Reform and Consumer
Protection Act (the “Dodd-Frank Act”). On June 30, 2010, the House
approved the Dodd-Frank Act by a vote of 237-192, followed on July 15,
2010 by the Senate’s approval by a vote of 60-39. The President is
expected to sign the Dodd-Frank Act this week.

The Dodd-Frank Act will impose, directly or through regulatory action, new
executive compensation and corporate governance requirements on
public companies.