NOTE T — STOCKHOLDERS’ RIGHTS PLAN
On October 27, 1998, the Board of Directors adopted a stockholders’ rights plan (the Rights Plan) designed to assure that all of our stockholders receive fair and equal treatment in the event of a proposed takeover. The Rights Plan, as amended on November 6, 2008, was formed to help guard against partial tender offers, open market accumulations, and other abusive tactics to gain control of our company without paying an adequate and fair price in any takeover attempt, and was scheduled to expire on November 6, 2018. In March 2013, the Board of Directors approved an amendment to the Rights Plan whereby its expiration was accelerated to March 13, 2013. As a result of its expiration, the rights issued pursuant to the Rights Plan expired and are no longer outstanding.
