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<SEC-DOCUMENT>0000926044-08-000255.txt : 20080410
<SEC-HEADER>0000926044-08-000255.hdr.sgml : 20080410
<ACCEPTANCE-DATETIME>20080410144707
ACCESSION NUMBER:		0000926044-08-000255
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20071231
FILED AS OF DATE:		20080410
DATE AS OF CHANGE:		20080410
EFFECTIVENESS DATE:		20080410

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENTEX CORP
		CENTRAL INDEX KEY:			0000355811
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		IRS NUMBER:				382030505
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10235
		FILM NUMBER:		08749773

	BUSINESS ADDRESS:	
		STREET 1:		600 N CENTENNIAL ST
		CITY:			ZEELAND
		STATE:			MI
		ZIP:			49464
		BUSINESS PHONE:		6167721800
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>gentex-def14a_123107.htm
<TEXT>
<HTML>
<HEAD>
<TITLE>Macatawa Bank Corporation Definitive 14a for 12/31/06</TITLE>
</HEAD>
<BODY>



<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<B>SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B><BR>
<BR>
SCHEDULE 14A<BR>
(Rule 14a-101)<BR>
INFORMATION REQUIRED IN<BR>
PROXY STATEMENT<BR>
<BR>
SCHEDULE 14A INFORMATION<BR>
Proxy Statement Pursuant to Section 14(a) of<BR>
the Securities Exchange Act of 1934</font></p>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Filed by the registrant  [&nbsp;X&nbsp;]<BR>
Filed by a party other than the registrant  [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]<BR>
Check the appropriate box:<BR>
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]  Preliminary Proxy Statement<BR>
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))<BR>
[&nbsp;X&nbsp;]  Definitive Proxy Statement<BR>
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]  Definitive Additional Materials<BR>
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]  Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12</font></p>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<B>GENTEX CORPORATION</B><BR>
 (Name of registrant as specified in its charter)</font></p>
<BR>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>________________________________________________________________________<BR>
(Name of person(s) filing Proxy Statement, if other than the Registrant)</FONT></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Payment of filing fee (Check the appropriate box):<BR>
[ X ]  No fee required<BR>
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]  Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11</font></p>

<TABLE ALIGN=CENTER WIDTH=680 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 (1)</font></TD>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Title of each class of securities to which transaction applies: ______________________________________</font></TD>
</TR>
<TR>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(2)</font></TD>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Aggregate number of securities to which transaction applies:______________________________________</font></TD>
</TR>
<TR>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
 (3) </font></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the
                  amount    on    which    the    filing    fee    is    calculated    and    state    how    it    was    determined):
_________________________</font></TD>
</TR>
<TR>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(4)</font> </TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Proposed maximum aggregate value of transaction: _____________________________________________</font></TD>
</TR>
<TR>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(5)</font></TD>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Total fee Paid: _________________________________________________________________________</font></TD>
</TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]   Fee paid previously with preliminary materials<BR>

[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] Check box if any part
of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify
the filing for which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the form or schedule and
the date of its filing.</font></P>

<TABLE WIDTH=680 ALIGN=CENTER CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR>
<TD WIDTH=10%> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(1)</font></TD>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Amount previously paid:
_________________________________________________________________</font></TD>
</TR>
<TR>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(2)</font></TD>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Form, schedule, or registration statement no.: __________________________________________________</font></TD>
</TR>
<TR>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(3)</font> </TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Filing party: ___________________________________________________________________________</font></TD>
</TR>
<TR>
<TD> <FONT FACE="Times New Roman, Times, Serif" SIZE=2>
(4)</font> </TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Date filed: ____________________________________________________________________________</font></TD>
</TR>
</TABLE>


<BR>
<P ALIGN=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>  </FONT></P>
<BR>
<HR SIZE=3 NOSHADE>
<p Style='page-break-before:always'>

<p align=center><IMG SRC="gentex-logo.gif">

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>600 North Centennial
Street <BR>Zeeland, Michigan 49464 </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NOTICE OF 2008 ANNUAL
MEETING OF SHAREHOLDERS </FONT></P>

<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=100% ALIGN=LEFT>

<!-- MARKER FORMAT-SHEET="Para Left-TNR" FSL="Project" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Dear Shareholder: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Annual Meeting of the Shareholders of Gentex Corporation (&#147;the Company&#148;), a
Michigan corporation, will be held at The Pinnacle Center, 3330 Highland Drive,
Hudsonville, Michigan, on Thursday, May 15, 2008, at 4:30 p.m. EST, for the following
purposes: </FONT></P>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1. </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               To elect three directors as set forth in the Proxy Statement. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2. </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               To act upon a proposal to approve the First Amendment to the Gentex Corporation
               Second Restricted Stock Plan. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3. </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               To ratify the appointment of Ernst &amp; Young LLP as the Company&#146;s
               auditors for the fiscal year ended December 31, 2008. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4. </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               To transact any other business that may properly come before the meeting, or any
               adjournment thereof. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors recommends a vote <I>FOR</I> Items 1, 2, and 3. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
of record as of the close of business on March 20, 2008, are entitled to notice of, to
attend, and to vote at the meeting. We are pleased to offer multiple options for voting
your shares. As detailed in the &#147;Solicitation of Proxies&#148; section of this notice
and Proxy Statement, you can vote your shares via the Internet, by telephone, by mail or
by written ballot at the Annual Meeting. <I>We encourage you to use the Internet to vote
your shares as it is the most cost-effective method.</I> If your shares are held in
&#147;street name,&#148; (that is held for your account by a broker or other nominee), you
will receive instructions from the holder of record that you must follow for your shares
to be voted. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Important Notice
Regarding the Availability of Proxy Materials for the Annual Shareholders Meeting  <BR>to be held on May 15, 2008 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under
new Securities and Exchange Commission rules, you are receiving this notice that the proxy
materials for our 2008 Annual Meeting of Shareholders are available on the Internet. The
following proxy materials can be found https://www.proxyvote.com: </FONT></P>

<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=15%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=80% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Company&#146;s
2008 Proxy Statement; </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=15%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=80% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Company&#146;s
Annual Report to Shareholders for the year ended December 31, 2007; and  </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 3-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=15%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=80% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proxy
Card.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Whether
or not you expect to be present at the meeting, you are urged to promptly vote your shares
using one of the methods discussed above. If you do attend the meeting and wish to vote in
person, you may withdraw your earlier-dated Proxy. </FONT></P>

<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Project" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR><BR><BR><BR><BR>April 4, 2008</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>BY ORDER OF THE BOARD OF DIRECTORS<BR><BR>
<BR>/s/ Connie Hamblin<BR><BR>
Connie Hamblin<BR>Secretary</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER PAGE="; page: 1" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>










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<P ALIGN=CENTER>  <IMG SRC="gentex-def14a_123107map.gif"> </P>


<!-- MARKER PAGE="; page: 2" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>GENTEX CORPORATION </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>600 North Centennial
Street <BR>Zeeland, Michigan 49464 </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>PROXY STATEMENT FOR
ANNUAL MEETING <BR>OF SHAREHOLDERS TO BE
HELD MAY 15, 2008 </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>QUESTIONS &amp; ANSWERS  </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>PROXY STATEMENT</U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Why am I receiving
this Proxy Statement? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Company&#146;s Board of Directors
is soliciting proxies for the 2008 Annual Meeting of Shareholders. You are receiving a
Proxy Statement because you owned shares of the Company&#146;s common stock on March 20,
2008, which entitles you to notice of, to attend, and to vote at the meeting. By use of a
Proxy, you can vote whether or not you plan to attend the meeting. The Proxy Statement
describes the matters on which the Board would like you to vote and provides information
on those matters so that you can make an informed decision. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Notice of the Annual Meeting
(including Notice Regarding the Availability of Proxy Materials), Proxy Statement, and
Proxy Card are being mailed to shareholders on or about April 4, 2008. These materials are
available at https://www.proxyvote.com. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>What will I be voting
on? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="a no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Election
of three directors (see pages 5-7).  </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="a no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proposal
to approve the First Amendment to Gentex Corporation Second Restricted Stock Plan (see
page 8).  </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ratify
the appointment of Ernst &amp; Young LLP as the Company&#146;s auditors for the fiscal
year ending December 31, 2008 (see page 29).  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Board of Directors recommends a
vote <I>FOR</I> each of the nominees to the Board of Directors, <I>FOR </I>the proposal to
approve the First Amendment to the Gentex Corporation Second Restricted Stock Plan, and
<I>FOR </I>ratification of the appointment of Ernst &amp; Young LLP as the Company&#146;s
auditors for the fiscal year ending December 31, 2008. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>How do I vote? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>You can vote either in person at the
Annual Meeting or by Proxy without attending the Annual Meeting. <I>We urge you to vote by
Proxy even if you plan to attend the Annual Meeting so that we will know as soon as
possible that enough votes will be present for us to hold the meeting</I>. If you attend
the meeting in person, you may vote at the meeting and your Proxy will not be counted. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Please note that there are separate
telephone and Internet arrangements depending upon whether you are a holder of record
[that is, if your shares are registered in your own name with our transfer agent and you
have possession of your stock certificate(s)] or whether you hold your shares in
&#147;street name&#148; (that is, if your shares are held for you by a broker or other
nominee). </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Shareholders of record voting by
Proxy may use one of the following three options: </FONT></P>

<!-- MARKER FORMAT-SHEET="a no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Voting
by <I>Internet</I> (log on to https://www.proxyvote.com and follow the directions there).
We recommend you vote this way as it is the most cost-effective method; or  </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Voting
by <I>toll-free telephone</I> (instructions are on the Proxy Card or Voting Instruction
Form); or o Filling out the enclosed <I>Proxy Card</I>, signing it, and mailing it in the
enclosed postage paid  envelope. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Page Number Center" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>



<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you hold your shares in
&#147;street name,&#148; please refer to the information forwarded by your broker or other
nominee to see which options are available to you. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The telephone and Internet voting
facilities for shareholders of record will close at 11:59 p.m. EST on May 14, 2008. If you
vote over the Internet, you may incur costs, such as telephone and Internet access
charges, for which you will be responsible. The telephone and Internet voting procedures
are designed to authenticate shareholders by the use of control numbers and to allow you
to confirm that instructions have been properly recorded. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Can I change my vote?
</I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para (List) Flush" FSL="Default" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Yes.
          At any time before your Proxy is voted at the meeting, you may change your vote
          by: </FONT></P>

<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Revoking
 it by written  notice to the  Secretary  of the  Company at the address on the cover of
the Proxy Statement; </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Delivering
a later-dated Proxy (including a telephone or Internet vote); or  </FONT></TD>
</TR>
</TABLE>



<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Voting
in person at the meeting.  </FONT></TD>
</TR>
</TABLE>
<BR>


<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you hold your shares in
&#147;street name,&#148; please refer to the information forwarded by your broker or other
nominee for procedures on revoking or changing your Proxy. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>How many votes do I
have? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>You will have one vote for every
share of common stock that you owned on March 20, 2008. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>How many shares are
entitled to vote? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>There were 142,654,807 shares of the
Company common stock outstanding as of March&nbsp;20, 2008, and entitled to vote at the
meeting. Each share is entitled to one vote. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>How many votes must
be present to hold the meeting? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Under the Company&#146;s Bylaws, a
majority of all of the voting shares of the capital stock issued and outstanding as of
March 20, 2008, must be present in person or by Proxy to hold the Annual Meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>What if I do not vote
for some or all the matters listed on my Proxy Card? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you return a Proxy Card without
indicating your vote for some or all of the matters, your shares will be voted as follows
for any matter you did not vote on: </FONT></P>

<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>For</I> the
approval of the director nominees to the Board listed on the card.  </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>For</I> the
proposal to approve the First Amendment to the Gentex Corporation Second Restricted Stock
Plan.  </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>For
</I>ratification of Ernst &amp; Young LLP as the Company&#146;s auditors for the fiscal
year ended December 31, 2008.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>How many votes are
needed for the approval of items upon which the shareholders are being asked to vote? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Under
Michigan law, the three nominees for director will be elected by a plurality of the votes
cast.  </FONT></TD>
</TR>
</TABLE>



<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
proposal to approve the First Amendment to the Gentex Corporation Second Restricted Stock
Plan must be approved by a majority of the votes cast.  </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Ratification
of the appointment of Ernst &amp; Young LLP as the Company&#146;s auditors for the fiscal
year ended December 31, 2008, is by a majority of the votes cast.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>What if I vote &#147;abstain?&quot;</I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A vote to &#147;abstain&#148; on the
election of the directors or on the proposals will have no effect on the outcome. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>What if I do not
return my Proxy Card and do not attend the Annual Meeting? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you are a holder of record and you
do not vote your shares, your shares will not be voted. If you hold your shares in
&#147;street name,&#148; and you do not give your broker or other nominee specific voting
instructions for your shares, your broker or other nominee may not be permitted to
exercise voting discretion with respect to certain matters to be acted upon. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you do not give your record holder
specific voting instructions and your record holder does not vote on any of the proposals,
the votes will be &#147;broker non-votes.&#148; &#147;Broker non-votes&#148; will have no
effect on the vote for the election of directors or the proposals. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2 </FONT></P>


<!-- MARKER PAGE="; page: 4" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>



<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Is my vote
confidential? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Proxy instructions, ballots, and
voting tabulations that identify individual shareholders are handled in a manner that
protects your voting privacy. Your vote will not be disclosed either within the Company or
to third parties, except: </FONT></P>

<!-- MARKER FORMAT-SHEET="a no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>as
necessary to meet applicable legal requirements; </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="a no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>to
allow for the tabulation of votes and certification of the vote; or </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>to
facilitate successful Proxy solicitation by our Board. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Occasionally, shareholders provide
written comments on their Proxy Cards which are then forwarded to the Company&#146;s
management. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>ANNUAL REPORT </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Will I receive a copy
of the Company&#146;s Annual Report? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Unless you have previously elected to
view the Company&#146;s Annual Report over the Internet, we have mailed the Annual Report
for the year ended December 31, 2007, with this Proxy Statement. The Annual Report
includes the Company&#146;s audited financial statements, along with other information. We
urge you to read it carefully. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>How can I receive a
copy of the Company&#146;s Form 10-K? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>You can obtain, free of charge, a
copy of our Form 10-K for the year ended December 31, 2007, which we recently filed with
the Securities and Exchange Commission, by writing to: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Corporate
Secretary<BR>Gentex Corporation<BR>600 North Centennial Street<BR>Zeeland, Michigan 49464 </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>You can also obtain a copy of the
Company&#146;s Form 10-K and other periodic filings with the Securities and Exchange
Commission (SEC) on the Company&#146;s Internet web site under the heading &#147;SEC
Filings&#148; at: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Left Underline-TNR" FSL="Project" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>http://www.easyir.com/easyir/edgr.do?easyirid=74B343E1F282071F</U></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Company&#146;s Form 10-K and
other SEC filings mentioned above are also available from the SEC&#146;s EDGAR database at
www.sec.gov. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>ELECTRONIC DELIVERY
AND AVAILABILITY OF PROXY STATEMENT AND ANNUAL REPORT </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Can I access the
Company&#146;s proxy materials and Annual Report electronically? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>This Proxy Statement and the 2007
Annual Report are available on the Company&#146;s Internet web site under the heading
&#147;Annual Reports and Proxies&#148; at: </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
http://www.easyir.com/easyir/cogo.do?easyirid=74B343E1F282071F </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Most shareholders can elect to view
future Proxy Statements and Annual Reports over the Internet instead of receiving paper
copies in the mail. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you are a holder of record, you
can choose this option and save the Company the cost of producing and mailing these
documents by: </FONT></P>

<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Following
the instructions provided when you vote over the Internet, or  </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Going
to <U>https://www.icsdelivery.com/gntx</U> and following the instructions provided.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you are a holder of record and you
choose to view future Proxy Statements and Annual Reports over the Internet, you will
receive an e-mail message next year containing the Internet address to access the
Company&#146;s Proxy Statement and Annual Report. The e-mail also will include
instructions for voting over the Internet. Your choice will remain in effect until you
tell us otherwise. You do not have to elect Internet access each year. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you hold your shares in
&#147;street name,&#148; and choose to view future Proxy Statements and Annual Reports
over the Internet and your broker or other nominee participates in this service, you will
receive an e-mail message next year containing the Internet address to use to access the
Company&#146;s Proxy Statement and Annual Report. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3 </FONT></P>


<!-- MARKER PAGE="; page: 5" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>HOUSEHOLDING
INFORMATION </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>What is &#147;householding?&quot;</I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Company has adopted a procedure
called &#147;householding,&#148; which has been approved by the Securities and Exchange
Commission. Under this procedure, a single copy of the Annual Report and Proxy Statement
will be sent to any household at which two or more shareholders reside if they appear to
be members of the same family, unless one of the shareholders at the address notifies us
that they wish to receive additional copies. This procedure reduces our printing costs,
mailing costs, and fees. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Shareholders who participate in
householding will continue to receive separate Proxy Cards. If a single copy of the Annual
Report and Proxy Statement was delivered to an address that you share with another
shareholder, at your request we will promptly deliver a separate copy. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>How do I withhold my
consent to the householding program? </I> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you are a holder of record and
share an address and last name with one or more holders of record, and you wish to
continue to receive separate Annual Reports, Proxy Statements and other disclosure
documents, you must withhold your consent by checking the appropriate box on the enclosed
Proxy Card and returning it by mail in the enclosed envelope. Even if you vote by
telephone or Internet, the enclosed Proxy Card must be returned and marked appropriately
to withhold your consent to householding. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you do not return the Proxy Card
to withhold your consent to the householding program, you may revoke your consent at any
future date. Please contact Broadridge, either by calling toll-free at 1-800-542-1061, or
by writing to Broadridge, Householding Department, 51 Mercedes Way, Edgewood, New York
11717. You will be removed from the householding program within 30 days of the receipt of
the revocation of your consent, following which you will receive an individual copy of our
disclosure document. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If you are receiving multiple copies
of the Annual Report and Proxy Statement at an address shared with another shareholder,
you may also contact Broadridge to participate in the householding program. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>A number of brokerage firms have
instituted householding. If you hold shares in &#147;street name,&#148; please contact
your broker or other nominee to request information about householding. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4 </FONT></P>


<!-- MARKER PAGE="; page: 6" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>SOLICITATION OF
PROXIES </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Proxy Statement is being furnished on or about April 4, 2008, to the shareholders of
Gentex Corporation as of the record date, in connection with the solicitation by the Board
of Directors of the Company of Proxies to be used at the Annual Meeting of Shareholders to
be held on Thursday, May 15, 2008, at 4:30 p.m. EST, at The Pinnacle Center, 3330 Highland
Drive, Hudsonville, Michigan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
shareholder as of the record date, as an owner of the Company, is entitled to vote on
matters to come before the Annual Meeting. The use of Proxies allows a shareholder of the
Company to be represented at the Annual Meeting if he or she is unable to attend in
person. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 1-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
There
are four ways to vote your shares:  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="a2 no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1) </FONT></TD>
<TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By
Internet at https://www.proxyvote.com. <I>We encourage you to vote this way.</I> </FONT></TD>
</TR>
</TABLE>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2) </FONT></TD>
<TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By
toll-free telephone (refer to your Proxy Card or Voting Instruction Form for
          the correct number).  </FONT></TD>
</TR>
</TABLE>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3) </FONT></TD>
<TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By
completing and mailing your Proxy Card or Voting           Instruction Form.  </FONT></TD>
</TR>
</TABLE>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>4)  </FONT></TD>
<TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>By
written ballot at the Annual Meeting.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the form of Proxy accompanying this Proxy Statement is properly executed using any of the
methods described above, the shares represented by the Proxy will be voted at the Annual
Meeting of Shareholders and at any adjournment of the meeting. Where shareholders specify
a choice, the Proxy will be voted as specified. If no choice is specified, the shares
represented by Proxy will be voted for the election of all nominees named in the Proxy;
for the proposal to approve the First Amendment to the Gentex Corporation Second
Restricted Stock Plan; and to ratify Ernst &amp; Young LLP as the Company&#146;s auditors
for the fiscal year ending December 31, 2008. These proposals are described in this Proxy
Statement. A Proxy may be revoked prior to its exercise by (1) delivering a written notice
of revocation to the Secretary of the Company, (2) delivery of a later-dated Proxy
including a telephone or Internet vote, or (3) attending the meeting and voting in person
(must provide proof of ownership of shares). </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>VOTING SECURITIES AND
RECORD DATE </U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;March
20, 2008, has been fixed by the Board of Directors as the record date for determining
shareholders entitled to vote at the Annual Meeting. On that date, 142,654,807 shares of
the Company&#146;s common stock, par value $.06 per share, were issued and outstanding.
Shareholders are entitled to one vote for each share of the Company&#146;s common stock
registered in their names at the close of business on the record date. Abstentions and
broker non-votes are counted for the purposes of determining the presence or absence of a
quorum for the transaction of business. Abstentions and broker non-votes are not, however,
counted in tabulations of votes cast on matters presented to shareholders. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>ELECTION OF DIRECTORS
</U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company&#146;s Articles of Incorporation specify that the Board of Directors shall consist
of at least six, but not more than nine members, with the exact number to be determined by
the Board. The Board has currently set the number of directors at nine. The Articles of
Incorporation also specify that the Board be divided into three classes, with the classes
to hold office for staggered terms of three years each. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>5 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
majority of the members of the Company&#146;s Board of Directors qualify as
&#147;independent directors&#148; as determined in accordance with the current listing
standards of The NASDAQ Global Select Market (&#147;NASDAQ&#148;). Based on the current
NASDAQ listing standards, the Company&#146;s Board of Directors has identified and
affirmatively determined the following individuals have no material relationships with the
Company other than as a director and are independent: Gary Goode, John Mulder, Rande
Somma, Frederick Sotok, Wallace Tsuha, and James Wallace. In making its independence
determinations, the Board considered Mr. Mulder&#146;s consulting arrangement with the
Company as described herein, and the fact that Mr. Sotok&#146;s son is employed (not as a
director or officer) at a vendor of the Company whose business awards are determined by a
competitive bidding process. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
terms of current board members Arlyn Lanting, Kenneth La Grand, and Rande Somma expire
upon the election of the directors to be elected at the 2008 Annual Meeting. The Board has
(upon the recommendation of the Company&#146;s Nominating Committee) nominated Arlyn
Lanting, Kenneth La Grand, and Rande Somma for election as directors at the Annual
Meeting, each to serve a three-year term expiring in 2011. </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Mr.
                                       Lanting has served as a director of the Company
since 1981 and was most                     recently elected as a director by the Company&#146;s
shareholders in 2005. Mr.                     La Grand has served as a director of the
Company since 1987 and was most                     recently elected as a director by the
Company&#146;s shareholders in 2005. Mr.                     Somma has served as a
director of the Company since 2005 and was previously                     elected as a
director by the Company&#146;s shareholders in 2005.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise specifically directed by a shareholder&#146;s marking on the Proxy Card, or in
directions given either via the Internet or telephone, the persons named as Proxy voters
in the accompanying Proxy will vote for the nominees described above and below. If any of
these nominees becomes unavailable, which is not now anticipated, the Board may designate
a substitute nominee, under the recommendation of the Nominating Committee, in which case
the accompanying Proxy will be voted for the substituted nominee. Proxies cannot be voted
for a greater number of persons than the number of nominees named. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
plurality of votes cast by shareholders at the meeting is required to elect directors of
the Company under Michigan law. Accordingly, the three nominees who receive the largest
number of affirmative votes will be elected, regardless of the number of votes received.
Broker non-votes, votes withheld, and votes cast against any nominee will not have a
bearing on the outcome of the election. Votes will be counted by Inspectors of Election
appointed by the presiding officer at the Annual Meeting. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors recommends a vote <I>FOR</I> the election of all persons nominated by
the Board. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>6 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
content of the following table relating to age and business experience is based upon
information furnished to the Company by the nominees and directors, as of March 1, 2008. </FONT></P>


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<HR SIZE=1 NOSHADE WIDTH=600 ALIGN=LEFT>

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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD ALIGN=LEFT WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Name (Age) and Position</B></FONT></TD>
<TD ALIGN=CENTER WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><B>Business Experience Past Five Years</B></FONT></TD>
</TR>
</TABLE>

<!-- MARKER FORMAT-SHEET="Footnote Rule-TNR" FSL="Project" -->
<HR SIZE=1 NOSHADE WIDTH=600 ALIGN=LEFT>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=600 align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<B>Nominees
for Terms to Expire in 2011 </B> </FONT></TD>
</TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="40pct hang" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Arlyn Lanting (67)<BR>&nbsp;&nbsp;Director since 1981</FONT></TD>
<TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Until its  dissolution in 2007, Mr.  Lanting served as the Vice  President-Finance  of
Aspen Enterprises,  Ltd., a Grand Rapids,  Michigan  investment  company. He held that
position  for more than five years.  Mr.  Lanting  serves on the  Company's  Executive
Committee.
</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="40pct hang" FSL="Project" -->
<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Kenneth La Grand (67)<BR>&nbsp;&nbsp;Director since 1987</FONT></TD>
<TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Mr. La Grand was the Executive  Vice  President of the Company from  September 1987 to
January 2003.  Mr. La Grand serves on the Company's Executive Committee.
</FONT></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Rande Somma (56)<BR>&nbsp;&nbsp;Director since 2005</FONT></TD>
<TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Mr.  Somma  currently  acts  as an  independent  consultant.  Previously,  he was  the
President of Automotive  Operations - Worldwide,  at Johnson  Controls from 2002-2003,
and was President of Automotive  Operations - North America from  2000-2002.  Prior to
that date and since 1988,  Mr. Somma held several  different  managerial  positions in
the  Automotive  Systems  Group at  Johnson  Controls.  Johnson  Controls  is a global
market  leader in  automotive  systems and facility  management  and  control.  In the
automotive  market, it is a major supplier of integrated  seating and interior systems
and  batteries.  Mr.  Somma serves on the  Company's  Audit  Committee.  Mr. Somma has
affirmatively been identified as an independent director by the Board of Directors.
</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=600 align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<B>Directors
Whose Terms Expire in 2010</B>  </FONT></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Frederick Sotok (73)<BR>&nbsp;&nbsp;Director since 2000</FONT></TD>
<TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Mr.  Sotok  was  Executive  Vice  President  and  Chief  Operating  Officer  of Prince
Corporation  (manufacturer  of automotive  interior parts that was acquired by Johnson
Controls in 1996) from  October  1977 to October  1996.  Mr.  Sotok is Chairman of the
Company's  Compensation and Nominating  Committees,  and serves on the Company's Audit
Committee.  Mr. Sotok has affirmatively been identified as an independent  director by
the Board of Directors.
</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>John Mulder (71)<BR>&nbsp;&nbsp;Director since 1992</FONT></TD>
<TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Mr. Mulder was the Vice  President-Customer  Relations of the Company from February
2000 to June 2002. Previously,  he was Senior Vice  President-Automotive  Marketing
of the Company from September 1998 to February  2000.  Prior to September  1998, he
was Vice President-  Automotive  Marketing of the Company for more than five years.
Mr. Mulder has  affirmatively  been  identified as an  independent  director by the
Board of Directors.
</FONT></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Wallace Tsuha (64)<BR>&nbsp;&nbsp;Director since 2003</FONT></TD>
<TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Mr.  Tsuha is  Chairman  and  Chief  Executive  Officer  of  Saturn  Electronics  &amp;
Engineering,  Inc.  in  Auburn  Hills,  Michigan,  which  is a global  supplier  of
automotive  electronics,  electrical  wiring,  and  electro-mechanical  products to
original equipment  manufacturers (OEMs) and their first tier suppliers.  Mr. Tsuha
has held  this  position  for  more  than  five  years.  Mr.  Tsuha  serves  on the
Company's  Compensation  Committee.  Mr. Tsuha has affirmatively been identified as
an independent director by the Board of Directors.
</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=600 align=center><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<B>Directors
Whose Terms Expire in 2009 </B> </FONT></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Fred Bauer (65)<BR>&nbsp;&nbsp;Director since 1981</FONT></TD>
<TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Mr. Bauer is the Chairman and Chief Executive  Officer of Gentex  Corporation,  and
he has held that  position  for more  than  five  years.  Mr.  Bauer  serves on the
Company's Executive Committee.
</FONT></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Gary Goode (63)<BR>&nbsp;&nbsp;Director since 2003</FONT></TD>
<TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Mr. Goode is the Chairman of Titan  Distribution LLC, a Granger,  Indiana,  company
that offers consulting and distribution  services related to structural  adhesives,
and has held  that  position  since  2004.  He was  previously  employed  at Arthur
Andersen LLP ("Andersen") for 29 years,  including 11 years as the managing partner
of its West Michigan  practice,  until his  retirement in March 2001.  Mr. Goode is
the Audit Committee  Chairman at and a director of Universal Forest Products,  Inc.
He is the Chairman of the Company's  Audit  Committee,  and serves on the Company's
Compensation  and  Nominating   Committees.   Mr.  Goode  has  affirmatively   been
identified as an independent director by the Board of Directors.
</FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=600 CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>James Wallace (65)<BR>&nbsp;&nbsp;Director since 2007</FONT></TD>
<TD WIDTH=60% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2> Mr.  Wallace is  President  and CEO of Cranel,  Inc., a Columbus,  Ohio,  company that
provides  storage,   imaging,  and  information  technology  services;   data  storage
solutions;  document  imaging,  storage,  publishing,  and duplication  services;  and
support,  to the storage  and imaging  industry.  He has held this  position  for more
than five years.  The Board of  Directors  has  affirmatively  been  identified  as an
independent director by the Board of Directors.
</FONT></TD>
</TR>
</TABLE>
<BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arlyn
Lanting and Kenneth La Grand are brothers-in-law. There are no other family relationships
between the nominees, directors and executive officers of the Company. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>7 </FONT></P>


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<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>PROPOSAL TO APPROVE
FIRST AMENDMENT TO THE COMPANY&#146;S SECOND RESTRICTED STOCK PLAN </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective
February 21, 2008, the Board of Directors of the Company took action to amend the Gentex
Corporation Second Restricted Stock Plan (the &#147;Plan&#148;), subject to the approval
of the Company&#146;s shareholders. The First Amendment to the Gentex Corporation Second
Restricted Stock Plan (the &#147;Amendment&#146;), as approved by the Board, modifies the
existing plan by increasing the maximum number of shares that may be subject to awards
under the plan and extends the termination date of the Plan. The Board approved the
Amendment and is recommending its approval to the shareholders to provide the Company with
additional shares to continue to attract and retain key employees, reward outstanding
achievement, and provide incentives for key employees. The new termination date will allow
the Company to award shares over a longer period of time. The full text of the Amendment
is appended to this Proxy Statement as Appendix B. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Second Restricted Stock Plan is, and will continue to be, administered by the
Company&#146;s Compensation Committee. The Compensation Committee has used restricted
stock as a part of the Company&#146;s overall compensation program for many years. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Second Restricted Stock Plan, as it exists, provides that a maximum of 1,000,000 shares of
the Company&#146;s common stock, par value $.06 per share, may be subject to Award under
the Plan. Under the Plan, 248,157 shares currently remain available for award. The
Amendment provides that 2,000,000 shares of the Company&#146;s common stock (in the
aggregate) are now authorized for award under the Plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Second Restricted Stock Plan, as it exists, will terminate automatically on March 2, 2011,
unless earlier terminated by the Board of Directors. The Amendment provides that the
Second Restricted Stock Plan will now terminate automatically on February 20, 2018, unless
earlier terminated by the Board. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
affirmative vote of a majority of the votes cast at the Annual Meeting is required to
approve adoption of the First Amendment to the Second Restricted Stock Plan. Since a
majority of the votes cast is required for approval, any negative votes will necessitate
offsetting affirmative votes to assure approval. Any ballot or proxy marked
&#147;abstain&#148; and any broker non-vote will not be counted as a negative vote. Votes
will be counted by Inspectors of Election appointed by the presiding officer at the annual
meeting. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors recommends a vote <I>FOR</I> adoption of the First Amendment to the
Second Restricted Stock Plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>SECURITIES OWNERSHIP
OF MANAGEMENT </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table contains information with respect to ownership of the Company&#146;s
common stock by all directors, nominees for election as directors, executive officers
named in the tables under the caption &#147;Executive Compensation,&#148; and all
directors and such executive officers as a group. The content of this table is based upon
information supplied by the Company&#146;s named executive officers, directors and
nominees for election as directors, and represents the Company&#146;s understanding of
circumstances in existence as of March 1, 2008. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>8 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>




<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=3 ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=5><FONT FACE="Times New Roman" SIZE=2><U>Amount and Nature of Ownership</U></FONT></TH><TD></TD> </TR>
<TR VALIGN=Bottom>
     <TH COLSPAN=3 ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Name of Beneficial Owner</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Shares Beneficially Owned (1)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Exercisable Options (2)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Percent of Class</FONT></TH><TD></TD> </TR>
<TR>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=TOP>
     <TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Dennis Alexejun <BR>
Fred Bauer      <BR>
John Carter     <BR>
Steve Dykman    <BR>
Gary Goode      <BR>
Enoch Jen       <BR>
Arlyn Lanting   <BR>
Kenneth La Grand<BR>
John Mulder     <BR>
Rande Somma     <BR>
Frederick Sotok <BR>
Wallace Tsuha   <BR>
James Wallace   </FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>  45,922<BR>
6,039,296<BR>
   71,958<BR>
   55,436<BR>
   53,176<BR>
  184,748<BR>
  437,250<BR>
  466,281<BR>
  183,520<BR>
   24,013<BR>
   72,494<BR>
   38,852<BR>
    7,100
</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>  <BR>
   <BR>
   <BR>
   <BR>
   <BR>
   <BR>
   <BR>
&nbsp;(3)<BR>
   <BR>
   <BR>
&nbsp;(4)</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 12,932<BR>747,800<BR>
 39,228<BR>
 41,950<BR>
 46,176<BR>
 88,174<BR>
104,000<BR>
 42,000<BR>
 53,212<BR>
 18,000<BR>
 57,500<BR>
 35,852<BR>
  6,000
</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2> </FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>*<BR>4.2%<BR>*<BR>*<BR>*<BR>*<BR>*<BR>*<BR>*<BR>*<BR>*<BR>*<BR>*<BR>

</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>All directors and executive officers as a group (12 persons)</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>7,680,046</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>1,292,824</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=CENTER><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>5.4%</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
</TABLE>






<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>*Less than one percent. </FONT></P>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Except as otherwise indicated by footnote, each named person claims sole voting
               and investment power with respect to the shares indicated. </FONT></TD>
               </TR>
               </TABLE>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               This column reflects shares subject to options exercisable within 60 days, and
               these shares are included in the column captioned &#147;Shares Beneficially
               Owned.&#148; </FONT></TD>
               </TR>
               </TABLE>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Includes 50,500 shares held in a trust established by Mr. La Grand&#146;s
               spouse, and Mr. La Grand disclaims beneficial ownership of those shares. Also
               includes 36,846 shares held in trust by Mr. La Grand&#146;s spouse for Mr. La
               Grand&#146;s grandchildren, and Mr. La Grand disclaims beneficial ownership of
               these shares. </FONT></TD>
               </TR>
               </TABLE>

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          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4) </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Includes 174 shares owned by Mr. Sotok&#146;s spouse through a partnership, and
               Mr. Sotok disclaims beneficial ownership of these shares. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>COMMON STOCK
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS </U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table contains information with respect to ownership of the Company&#146;s
common stock by persons or entities that are beneficial owners of more than five percent
of the Company&#146;s voting securities as of December 31, 2007. The information contained
in this table is based on information contained in Schedule 13G furnished to the Company. </FONT></P>



<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=3 ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Name and Address<BR>
Of Beneficial Owner</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Amount and Nature of<BR>Beneficial Ownership</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Percent of Class</FONT></TH></TR>
<TR>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=54% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Fidelity Management and Research (FMR Corp.)</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=17% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>21,661,806</FONT></TD>
        <TD WIDTH=4% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=17% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14.99%</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>82 Devonshire Street</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Boston, MA 02109</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Capital Research Global Investors</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12,730,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8.8%</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>333 South Hope Street</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Los Angeles, CA 90071</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>




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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>9 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>CORPORATE GOVERNANCE
</U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company operates within a comprehensive plan of corporate governance for the purpose of
defining responsibilities, setting high standards of professionalism and personal conduct,
and assuring compliance with such responsibilities and standards. The Company regularly
monitors developments in the area of corporate governance. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board of Directors has an Audit Committee, a Compensation Committee, a Nominating
Committee, and an Executive Committee, and may also, in accordance with the Company&#146;s
Bylaws, appoint other committees from time to time. Other than the Executive Committee,
each committee has a written charter. All such charters, as well as any documents marked
with an asterisk (*) in this Proxy Statement, are available under the heading
&#147;Corporate Governance&#148; on the Company&#146;s internet web site at
http://www.easyir.com/easyir/firl.do?easyirid=74B343E1F282071F. Any of these documents
will be provided in print to any shareholder who submits a request in writing to the
Corporate Secretary, Gentex Corporation, 600 North Centennial Street, Zeeland, MI 49464. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
member of the Board of Directors is expected to make a reasonable effort to attend all
meetings of the Board of Directors, all applicable committee meetings, and each annual
meeting of shareholders. While no formal policy with respect to attendance has been
adopted, attendance at these meetings is encouraged and expected. All members of the Board
of Directors attended the 2007 Annual Meeting of Shareholders. Each of the current members
of the Board of Directors are expected to attend the 2008 Annual Meeting of Shareholders.
During 2007, the Board of Directors met on four occasions. All incumbent directors
attended at least 75 percent of the aggregate number of meetings of the Board and Board
committees on which they served. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Independent Directors
</U> </FONT></H1>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
In accordance with NASDAQ&#146;s corporate governance rules, in order for a director to
qualify as &#147;independent,&#148; the Board of Directors must affirmatively determine
that the director has no material relationship with the Company that would impair the
director&#146;s independence. The Board of Directors has affirmatively determined a
majority of its members are independent, and they include Messrs. Goode, Mulder, Somma,
Sotok, Tsuha, and Wallace. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
A meeting of the independent directors, separate from management, is an agenda item at
each Board of Directors meeting. During 2007, the independent directors met on four
occasions. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Audit Committee </U> </FONT></H1>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
During the fiscal year ending December 31, 2007, the Company&#146;s Audit Committee
included Messrs. Goode, Somma, and Sotok, and met four times during that period.
Information regarding the functions performed by the Committee is set forth in the
following &#147;Report of the Audit Committee.&#148; </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Board of Directors has affirmatively determined that all members of the Audit
Committee meet the appropriate tests for independence, including those set forth in the
NASDAQ corporate governance rules. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
All Audit Committee members possess the required level of financial literacy and the Board
of Directors has determined that at least one member of the Audit Committee, Mr. Goode,
meets the current standard of audit committee financial expert as required by the
Sarbanes-Oxley Act. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>10 </FONT></P>


<!-- MARKER PAGE="; page: 12" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>




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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Audit Committee operates pursuant to the Gentex Corporation Audit Committee Charter (*).  </FONT></TD>
</TR>
</TABLE>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Company&#146;s independent auditors report directly to the Audit Committee.  </FONT></TD>
</TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="a no br" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Audit Committee, consistent with the Sarbanes-Oxley Act and the rules adopted thereunder,
meets with management and the auditors prior to the filing of officer certifications with
the SEC to receive information concerning, among other things, any significant
deficiencies in the design or operation of internal controls.  </FONT></TD>
</TR>
</TABLE>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Audit Committee&#146;s policy regarding the pre-approval of audit and non-audit
services provided by the Company&#146;s independent auditors is outlined in a document
called &#147;Revised Audit Committee Procedures for Approval of Audit and Non-Audit
Services by Independent Auditors,&#148; which is attached as Appendix A to this Proxy
Statement. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Audit Committee has adopted a policy titled &#147;Complaint Procedures for Accounting
and Auditing Matters&#148; (*) to enable confidential and anonymous reporting to the Audit
Committee. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Audit Committee reviews and approves all related party transactions in accordance with
its Charter. This review and approval covers all manners of related party transactions,
which are viewed in light of applicable disclosure requirements, independence standards
for directors, and applicable Company codes and policies. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Compensation
Committee </U> </FONT></H1>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
During the fiscal year ended December 31, 2007, the Company&#146;s Compensation Committee
was comprised of Messrs. Sotok, Goode, and Tsuha, and met a total of six times. The
Compensation Committee is responsible for administering the Company&#146;s stock-based
incentive plans and supervising other compensation arrangements for executive officers of
the Company. Information regarding functions performed by the Committee is set forth in
the following &#147;Compensation Committee Report.&#148; </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Board of Directors has affirmatively determined that all members of the Compensation
Committee meet the appropriate tests for independence, including those set forth in the
NASDAQ corporate governance rules. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
 Compensation  Committee  operates  pursuant  to the Gentex  Corporation  Compensation
 Committee Charter (*).</FONT></TD>
</TR>
</TABLE>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
More information regarding the scope of authority of the Compensation Committee, any
delegation of its authority, and the role of executive officers is set forth in the
following &#147;Compensation Discussion and Analysis.&#148; </FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Nominating Committee
</U> </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
During the fiscal year ended December 31, 2007, the Company&#146;s Nominating Committee
was comprised of Messrs. Sotok, and Goode, and met two times (holding other informal
discussions at regularly scheduled Board meetings). The Nominating Committee is
responsible for identifying and recommending qualified individuals to serve as members of
the Company&#146;s Board of Directors. </FONT></TD>
</TR>
</TABLE>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Board of Directors has affirmatively determined that all members of the Nominating
Committee meet the appropriate tests for independence, including those set forth in the
NASDAQ corporate governance rules. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Nominating  Committee  operates pursuant to the Gentex Corporation  Nominating  Committee
Charter          (*). </FONT></TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>11 </FONT></P>


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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Nominating Committee has adopted certain procedures contained in a document called
&#147;Selection Process for New Board Candidates&#148; (*) to consider candidates for
director nominations. Generally, for each election of directors the Chair of the
Nominating Committee initiates the search with support of the other committee member(s),
other board members, and management, as needed. An initial slate that meets the
established criteria are identified and presented to the entire Nominating Committee. The
Nominating Committee will then conduct interviews and reviews, as appropriate and
necessary. The Nominating Committee then meets to consider and approve the most qualified
candidates so it can make its recommendation to the full Board of Directors. </FONT></TD>
</TR>
</TABLE>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Nominating Committee has established the minimum qualifications for candidates, which
are contained in a document called &#147;Position Profile: Member of the Board of
Directors&#148; (*). Those required qualifications include: working with an
entrepreneurial company; high level of personal and professional integrity; successful and
distinguished business management career (using the Company&#146;s core principles);
understanding of the Company&#146;s markets; and ability to work effectively with current
Board members. The Position Profile also sets forth other desirable experience and
qualifications. </FONT></TD>
</TR>
</TABLE>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Nominating Committee has not yet paid any third party a fee to assist in identifying
and evaluating nominees, but has the authority to do so. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Nominating Committee has not, to date, received any potential director candidates for
nomination from any shareholder that beneficially owns more than five percent of the
Company&#146;s common stock. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Nominating Committee considers suggestions from many sources, including shareholders,
regarding possible candidates for the Board of Directors. If you want to recommend a
director candidate, you may do so in accordance with the Company&#146;s procedures or the
Company&#146;s Restated Articles of Incorporation. If a shareholder desires to recommend a
candidate for consideration by the Nominating Committee for inclusion in the
Company&#146;s 2009 Proxy Statement as a Board nominee, that recommendation should be
submitted in writing, together with appropriate biographical information, to the Chairman
of the Nominating Committee, c/o Corporate Secretary&#146;s Office, Gentex Corporation,
600 North Centennial Street, Zeeland, Michigan 49464. Any such nominations must be
received by the Chairman of the Nominating Committee by no later than November 28, 2008,
to allow adequate time for consideration of the nominee. Other nominations by shareholders
for any directorship may be submitted to the Board of Directors by written notice within
the time periods set forth in the Company&#146;s Restated Articles of Incorporation, which
must include certain biographical information. In general, a written notice must be timely
received and contain all information required to be disclosed in a solicitation of proxies
for elections of directors pursuant to Regulation 14A under the Securities Exchange Act of
1934, in addition to other information. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
In accordance with the above-referenced Selection Process for New Board Candidates and the
Position Profile, the independent directors approved the slate of nominees standing for
election at the 2008 Annual Meeting of Shareholders, and recommended the same to the
entire Board of Directors. </FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Executive Committee
</U> </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Company has an Executive Committee comprised of Messrs. Bauer, Lanting and La Grand.
The Executive Committee is authorized to act on behalf of the Board on all corporate
actions for which applicable law does not require participation by the full Board or
independent director review and approval. In practice, the Executive Committee acts in
place of the full Board only when emergency issues or scheduling make it difficult or
impracticable to assemble the full Board. All actions taken by the Executive Committee
must be reported at the next Board meeting. This Committee did not meet during the fiscal
year ended December 31, 2007. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>12 </FONT></P>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Executive Committee does not take any action which must be approved by the independent
directors or a committee made up of only independent directors under applicable laws,
rules and regulations. </FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Codes</U> </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Board of Directors has adopted a &#147;Code of Ethics for Certain Senior
Officers&#148; (*) that applies to the Company&#146;s chief executive officer, principal
financial officer and principal accounting officer. Information concerning any alleged
violations is to be reported to the Audit Committee. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Company has also adopted a &#147;Code of Business Conduct and Ethics&#148; (*). This
Code applies to all directors, officers and employees of the Company. </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>No
waivers of either of the foregoing codes has occurred to date.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Shareholder
Communication with Members of the Board of Directors </U> </FONT></H1>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0>
<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
You may contact any of our directors by writing them: Board of Directors, c/o Corporate
Secretary&#146;s Office, Gentex Corporation, 600 North Centennial, Zeeland, Michigan
49464. Employees and others who wish to contact the Board or any member of the Audit
Committee may do so anonymously, if they wish, by using this address. Such correspondence
will not be screened and will be forwarded in its entirety. </FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Personal Loans to
Executive Officers and Directors </U> </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
The Company complies with and will operate in a manner consistent with an act of
legislation outlawing extensions of credit in the form of personal loans to or for its
directors and executive officers. </FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Director and
Executive Officer Stock Transactions </U> </FONT></H1>

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<TR VALIGN=TOP>
<TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149; </FONT></TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Under the regulations of the Securities and Exchange Commission (SEC), directors and
executive officers are required to file notice with the SEC within two (2) business days
of any purchase or sale of the Company&#146;s stock. Information on filings made by any of
our directors or executive officers can be found on the Company&#146;s web site under
&#147;SEC Filings&#148; at http://www.easyir.com/easyir/edgr.do?easyirid=74B343E1F282071F. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>13 </FONT></P>


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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Report of the Audit
Committee </I> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
primary purpose of the Audit Committee is to assist the Board of Directors in fulfilling
its oversight responsibilities for management&#146;s conduct of the Company&#146;s
accounting and financial reporting processes and the Company&#146;s system of internal
controls regarding finance, accounting, legal compliance and ethics. The Audit
Committee&#146;s function is more fully described in its Charter, which the Board has
adopted and is available on the Company&#146;s website. The Audit Committee reviews this
Charter on an annual basis. The Board annually reviews the NASDAQ listing standards&#146;
definition of independence for audit committee members and has determined that each member
of the Audit Committee meets that standard. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management
is responsible for the preparation, presentation, and integrity of the Company&#146;s
financial statements, and financial reporting principles, internal controls and procedures
designed to ensure compliance with accounting standards, applicable laws and regulations.
The Company&#146;s independent auditors, Ernst &amp; Young LLP, are responsible for
performing an independent audit of the consolidated financial statements and expressing an
opinion on the conformity of those financial statements with generally accepted accounting
principles. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to a meeting of the Audit Committee on February 20, 2008, the Audit Committee reports that
it has: (i) reviewed and discussed the Company&#146;s audited financial statements with
management; (ii) discussed with the independent auditors the matters required to be
discussed by the statement on Auditing Standards No. 61, as amended (AICPA,
<I>Professional Standards</I>, Vol. 1. AU section 380), as adopted by the Public Company
Accounting Oversight Board in Rule 3200T; and (iii) received the written disclosures and
the letter from the independent accountants required by Independence Standards Board
Standard No. 1 (Independence Standards Board Standard No. 1, <I>Independence Discussions
with Audit Committees</I>) as adopted by the Public Company Accounting Oversight Board in
Rule 3600T, and has discussed with the independent accountant the independent
accountant&#146;s independence. Based on the review and discussions referred to in Items
(i)-(iii) above, the Audit Committee recommended to the Board of Directors that the
audited financial statements be included in the Company&#146;s annual report on Form 10-K
for the year ended December 31, 2007, for filing with the Securities and Exchange
Commission. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee has selected Ernst &amp; Young LLP as the Company&#146;s independent
auditors for the year ending December 31, 2008, and has submitted the same to the
shareholders for ratification at the Annual Meeting. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
report of the Audit Committee does not constitute soliciting material and should not be
deemed filed or incorporated by reference into any of the other Company filings under the
Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent the
Company specifically requests that the information be treated as soliciting material or
specifically incorporates this report by reference therein. </FONT></P>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=60% ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Audit Committee: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Gary Goode, Chairman<BR>Fred Sotok<BR>Rande Somma </FONT></TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>February 20, 2008 </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>14 </FONT></P>


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<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Compensation
Committee Report </I> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
primary purpose of the Compensation Committee of the Board of Directors of the Company is
to assist the Board in discharging its responsibilities related to compensation of the
Company&#146;s executives. The Compensation Committee&#146;s function is more fully
described in its Charter, which the Board has adopted and is available on the
Company&#146;s website. The Compensation Committee reviews its Charter on an annual basis,
recommending changes to the Board when and as appropriate. The Compensation Committee is
comprised of three members, each of whom the Board has determined meets the appropriate
independence tests for compensation committee members under the NASDAQ listing standards. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to a meeting of the Compensation Committee held on February 20, 2008, the Compensation
Committee reports that it has reviewed and discussed the Company&#146;s Compensation
Discussion and Analysis with management. Based on the review and discussions, the
Compensation Committee recommended to the Board of Directors that the Compensation
Discussion and Analysis be included in the Company&#146;s annual report on Form 10-K for
the year ended December 31, 2007, and this Proxy Statement, for filing with the Securities
and Exchange Commission. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
report of the Compensation Committee does not constitute soliciting material and should
not be deemed filed or incorporated by reference into any of the other Company filings
under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the
extent the Company specifically requests that the information be treated as soliciting
material or specifically incorporates this report by reference therein. </FONT></P>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=60% ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Compensation Committee: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD WIDTH=40% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Fred Sotok, Chairman<BR>Gary Goode<BR>Wallace Tsuha</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Left-TNR" FSL="Project" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>February 20, 2008 </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>15 </FONT></P>


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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>COMPENSATION
DISCUSSION AND ANALYSIS </U> </FONT></H1>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Introduction </U> </FONT></H1>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<I>Overview
of Our Compensation System</I> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<U>The
Primary Objectives Are:</U> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;create
and maintain an entrepreneurial culture <BR>&#149;motivate employees to: </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=15%>&nbsp;</TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
- -continue
technical developments <BR>-improve customer satisfaction </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;create
and maintain teamwork (all salaried employees subject to same system)  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<U>The
Elements Comprise:</U> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;base
salary <BR>&#149;bonuses<BR>&#149;stock-based
 incentives</FONT></TD>
</TR>
</TABLE>
<BR>


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<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<U>We
Emphasize Stock-Based Incentives: </U> </FONT></TD>
</TR>
</TABLE>
<BR>

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<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;current
&nbsp;pay (salary and bonus) predicated on competitive circumstances, but <BR>&nbsp;&nbsp;historically
has been low in favor of stock-based compensation  <BR>&#149;stock-based  compensation  intended to align  executive  and  employee  interests  <BR>&nbsp;&nbsp;with the
                   interests of our shareholders</FONT></TD>
</TR>
</TABLE>
<BR>



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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5%>&nbsp;</TD>
<TD WIDTH=95%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<I>Responsibilities</I> </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation
Committee</U>. The Compensation Committee of our Board of Directors is appointed to assist
our Board in discharging its responsibilities relating to the compensation of our
executives. The Compensation Committee: </FONT></P>



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<TR VALIGN=TOP>
<TD WIDTH=15%>&nbsp;</TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&#149;is comprised of three  directors,  each of whom has been  determined by our <BR>&nbsp;&nbsp;Board
                    to be independent under applicable standards;<BR>
&#149;operates
under and in accordance with its written Charter; and <BR>&#149;has a chair who sets meeting
agendas and the calendar for meetings. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Chief Executive Officer and other
members of management attend meetings of the Compensation Committee at the request of this
Committee. The Compensation Committee does meet in executive session as necessary. The
Compensation Committee has the authority to engage outside consultants to advise the
Committee with respect to compensation of executives, in its discretion. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Board
of Directors<I></I></U><I>.</I> The Board of Directors has responsibility to annually
assess our director compensation program. Members of management attend meetings of the
Board at the Board&#146;s request, but the Board meets in executive session when
necessary. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>16 </FONT></P>


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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Role
of Executives in Establishing Compensation</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;While
the Compensation Committee is responsible for recommending CEO and other executive officer
compensation to the Board of Directors for approval in accordance with its Charter, the
CEO provides input with respect to compensation decisions for other executive officers and
is (along with management) primarily responsible for making compensation decisions for our
other employees within established guidelines. The Compensation Committee does, however,
review and approve <U>all</U> stock-based awards. Since the Compensation Committee and the
entire Board recognize that the CEO and other executive officers have the greatest
opportunity to influence our performance, our Compensation Committee concentrates its
efforts on establishing proper rewards and incentives for executive officers. This
structure provides our CEO and executive officers the freedom to influence and motivate
our employees to positively impact our Company performance. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation
Committee Activity</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
fiscal year 2007, the Compensation Committee met six times and also met in February of
2008 to approve the Compensation Committee Report included in the Proxy Statement.
Included in the activities of the Compensation Committee was a review of each element of
compensation payable to named executive officers, as well as the total compensation
payable to them, by use of an Executive Officer Compensation Tally Sheet and Stock
Appreciation Tally Sheet. These Tally Sheets total aggregate compensation for the current
year and for a certain number of previous years so that compensation decisions of the
Compensation Committee and the Board can be placed in the appropriate context. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Objectives of
Compensation Program </U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Compensation
Philosophy.</I>  Our compensation program is comprised of three fundamental elements: </FONT></P>


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<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;base
salary;<BR>&#149;bonuses; and <BR>&#149;stock-based
incentives.</FONT></TD>
</TR>
</TABLE>
<BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>These elements are intended to
reflect our cultural emphasis on all team members sharing in the financial opportunities
and sacrifices at our Company, just as our shareholders do. The compensation program is
designed in light of our desire to maintain an entrepreneurial culture and to incentivize
desired growth. The elements of compensation are utilized to accomplish several
objectives, including: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;attract,
motivate, and retain management personnel;  <BR>
&#149;encourage
continued technical development and improve customer satisfaction; <BR>&#149;stay competitive
for talent; <BR>&#149;encourage and reward individual achievement as well as overall Company
performance; and <BR>&#149;focus on long-term performance (to align the interests of our team
with the interests of our shareholders). </FONT></TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>17 </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
compensation program is available to all of our salaried employees generally and in
operation provides for the same method of allocation of benefits between executive and
non-executive participants. Our compensation program is reviewed periodically. Ingenuity
of our employees, employee turnover, employee morale, and individual and Company
performance are important factors in determining whether our compensation program is
consistent with our philosophy and is meeting its objectives. No changes to our
compensation system were made this past year based on the determination that our
compensation system is appropriate under the foregoing factors and perception that our
compensation is in accordance with the market for talent. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Compensation
Elements in General</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
noted above, the compensation program is comprised of three fundamental elements: (1) base
salary; (2) bonus; and (3) stock-based incentives. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Base
Pay</U>.  Base compensation for executive officers is predicated primarily on: </FONT></P>


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<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;competitive
circumstances for managerial talent; and <BR>&#149;positions reflecting comparable
responsibility. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Historically, base salaries for our
employees have been relatively low, and stock-based compensation has received more
emphasis to encourage our entrepreneurial culture. A variety of factors are considered
concerning executive officer compensation which are discussed in more detail below. </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Bonuses</U>.
          Bonus compensation is comprised of two elements: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;payments
under our Profit Sharing Bonus Plan; and <BR>&#149;discretionary performance bonuses. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>All of our full-time employees,
including the CEO and other executive officers, are eligible to share in our Profit
Sharing Bonus Plan after they have completed one full calendar quarter in our employ. A
percentage of pre-tax income, in excess of an established threshold for shareholder return
on equity is distributed quarterly to eligible employees under this plan. During 2007,
this Profit Sharing Bonus Plan paid approximately $17,070,000 to approximately 2,600
employees. In addition, discretionary performance bonuses may be awarded to various
managerial employees, including named executive officers, based on individual performance
and our overall performance. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock-Based
Compensation</U>. Stock-based compensation is intended to align the interests of
shareholders and executives by making our executives shareholders in a significant amount.
We attempt to foster and maintain an entrepreneurial culture that seems to work best when
our employees are owners and, therefore, win when our shareholders win. History and the
current climate have confirmed for us that stock-based compensation provides appropriate
incentives to improve long-term performance and is also a good retention tool. Stock-based
compensation includes: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;stock
options; and <BR>&#149;restricted stock. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>18 </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock options are granted under our
Employee Stock Option Plan and restricted stock is granted under our Second Restricted
Stock Plan, each of which has been approved by our shareholders. </FONT></P>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Details of
Compensation Program Design </U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
fundamental elements of our compensation program allow compensation to be impacted by our
overall performance and by individual performance as well. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Impact
of Performance on Compensation</I> </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
year, the Compensation Committee undertakes a CEO performance review which involves a
multi-step process. First, the entire Board of Directors evaluates CEO performance on a
variety of factors including: </FONT></P>

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<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;leadership;<BR>&#149;financial
results;<BR>&#149;recruitment,
training, retention, and morale of personnel; <BR>&#149;strategic planning; <BR>&#149;succession
planning; <BR>&#149;communications with the Board, management, employees, and shareholders;
<BR>&#149;contributions to our communities and industries in furthering business goals; and
<BR>&#149;Board relations. </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The Compensation Committee gathers
the results of this evaluation. The Compensation Committee then considers these
evaluations and discusses the same with the CEO. Based on the foregoing, the Compensation
Committee then makes compensation recommendations to the entire Board. Pursuant to this
process, the CEO&#146;s base salary, discretionary performance bonus, and stock-based
awards are determined and approved by the Board of Directors. Evaluations are also
undertaken for non-CEO executive officers. Evaluations of all our employees take place on
or about the employee&#146;s anniversary date of employment. Through these evaluation
processes, the Compensation Committee and the Board can exercise positive or negative
discretion concerning compensation decisions. Specific performance targets are not used as
we have found that emphasizing stock-based compensation has not required them. </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Specifics
on Elements of Compensation for 2007</I> </FONT></P>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Tables</U>.
          The &#147;Summary Compensation Table for 2007&#148; shows the base salary,
          bonuses, stock awards, stock option awards and other compensation for each of
          our named executive officers. Total compensation for each named executive
          officer is also reflected in that Table. The &#147;Grants of Plan-Based Awards
          for 2007&quot; Table demonstrates our emphasis on stock-based compensation. The
          &#147;Outstanding Equity Awards at Fiscal Year-End December 31, 2007,&#148;
          Table and the &#147;Option Exercises and Stock Vested for 2007&#148; Table
          further demonstrate the aligning of our executive officers&#146; interests with
          those of our shareholders. We continue to believe these compensation elements
          and the mix of these elements are appropriate for the Company given its culture,
          performance, industry, and current challenges. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Base
Salary<I></I></U><I>.</I> The base salaries for our named executive officers are set forth
in the &#147;Summary Compensation Table for 2007.&#148; The Company has approved
guidelines that salaried employees, including executive officers, are eligible for an
increase in base salary of up to 5% per year for performance alone and up to 10% per year
total if increased responsibilities are undertaken. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>19 </FONT></P>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;For
&nbsp;2007, each of our executive officers, including our CEO, received 5% increase in
base pay. <BR>&#149;These
increases were predicated on good individual (based on the reviews discussed above) and
company performance. <BR>&#149;Base
salaries for executives still remain relatively low as stock-based compensation is
emphasized. </FONT></TD>
</TR>
</TABLE>
<BR>

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     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Bonuses</U>.
          Profit Sharing Bonuses, in accordance with the above-described formula, and
          discretionary performance bonuses for named executive officers are also set
          forth in the &#147;Summary Compensation Table for 2007.&#148; The Company has
          approved a guideline such that employees, including executive officers, are
          eligible for discretionary performance bonuses of up to 20% of base salary,
          based on individual and Company performance as determined in the evaluation
          process. </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;CEO
2007 discretionary bonus - $0.<BR>&#149;Other
Executive Officer 2007 discretionary bonus - 5% to 14%.  </FONT></TD>
</TR>
</TABLE>
<BR>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Discretionary
bonuses reflect our Compensation Committee&#146;s positive and negative discretion. In
addition, the Compensation Committee prefers to emphasize stock-based compensation for the
CEO, as evidenced by the CEO not receiving a discretionary bonus in 2007. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Stock-Based
Compensation</U>. Our named executive officers are also eligible to receive grants of
stock options under our Employee Stock Option Plan and grants of restricted stock under
our Second Restricted Stock Plan. The Company has approved guidelines so that stock option
awards up to an established percentage may be made under our Employee Stock Option Plan
and restricted stock awards of up to an established percentage may be made under our
Second Restricted Stock Plan, which guidelines in operation provide for the same method of
allocation of benefits between executive and non-executive participants. During 2007: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;CEO
- - 103,000 stock option shares granted  </FONT></TD>
</TR>
</TABLE>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;Other
&nbsp;Executive Officers - 12,600 to 26,250 stock option shares granted (other than<BR>&nbsp;&nbsp;
John Carter, who did not receive a stock option grant). <BR>&#149; Restricted Stock Awards (See "Grant of Plan-Based Awards for 2007" Table) -</FONT></TD>
</TR>
</TABLE>


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<TR VALIGN=TOP>
<TD WIDTH=15%>&nbsp;</TD>
<TD WIDTH=85%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
- -Enoch
Jen   &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;  &nbsp; &nbsp; &nbsp;       10,800 shares                            <BR>-Dennis Alexejun &nbsp; &nbsp; &nbsp; 6,600
shares </FONT></TD>
</TR>
</TABLE>
<BR>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These
awards are predicated on both individual and company performance, while creating
incentives to help achieve our long-term goals. In particular, in the case of our CEO, the
Compensation Committee prefers stock option grants to the CEO rather than increasing base
pay and discretionary bonuses to a level that would be more commensurate with the market
for chief executive talent. In light of the fact that our CEO&#146;s base pay is
relatively low, and the fact that he received no discretionary bonus or restricted stock
award, our CEO was granted the foregoing stock option award in 2007, which will only
benefit him if our shareholders benefit as well. While the variability of these
compensation decisions among our executive officers demonstrates discretion with respect
thereto, it also demonstrates how important it is to our culture for all our salaried
employees to be compensated within the same parameters. </FONT></P>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>20 </FONT></P>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
Employee Stock Option Plan makes stock options generally available to all of our salaried
employees. All options, including those granted to named executive officers, are granted
to employees around the end of the quarter in which their anniversary date of employment
occurs at scheduled meetings of the Compensation Committee. Stock options are only granted
at their fair market value on the date of Compensation Committee meetings with all such
grants being reviewed and approved by the Compensation Committee. Generally, stock option
awards to officers have a seven-year term and become exercisable (as long as employment
continues), for 20% of the shares on each anniversary of the grant date commencing on the
first anniversary of the grant date. Stock options for other employees generally carry a
five to seven year term and similarly vest over time. Restricted stock awards are granted
at the discretion of the Compensation Committee at scheduled meetings of the Compensation
Committee. Generally, grants of restricted stock to eligible employees, including
executive officers, are considered once every three years for each eligible employee.
Usually, these share grants are restricted for five years from the date of grant, and as
such are viewed as an important retention tool. Dividends are paid on such shares if, and
to the extent, we pay dividends on our common stock. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Compensation</U>. All other compensation for named executive officers set forth in the
Summary Compensation Table for 2007 includes &#147;matching&#148; contributions by the
Company pursuant to our 401(k) plan, restricted stock dividends, and the personal use of
automobiles by certain executive officers as detailed in the notes to the Summary
Compensation Table. Finally, membership fees at local country clubs are paid for certain
executive officers as detailed in the notes to the Summary Compensation Table. We also
make available to our executives Company aircraft for personal use provided it does not
conflict with any business purpose for the aircraft. All executives are required to
reimburse us for the incremental costs for such use. The incremental cost to the Company
of personal use of Company aircraft is calculated using our average variable operating
costs. Those average variable operating costs include fuel, maintenance, use tax and other
miscellaneous variable costs. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
do not generally utilize any employment agreements as it has been our practice that all
employees, including executive officers, serve the Company on an at-will basis. Similarly,
we do not generally utilize any termination of employment (e.g., severance) or change in
control agreements with our executives or other employees. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Director Compensation
</U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our
Board of Directors has responsibility for periodically assessing our director compensation
program. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
2007, our directors who are not employees of the Company received: </FONT></P>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%>&nbsp;</TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
&#149;$10,000
annual directors&#146; retainer fee; <BR>&#149;$1,500 per each Board meeting attended;
<BR>&#149;$1,000 for each Committee meeting attended; and <BR>&#149;options to purchase 6,000
shares of our common stock. </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The cash retainer fee and meeting
fees increased slightly in 2007, the first change in these amounts since 2004. The
Chairmen of our Compensation and Audit Committees also received an additional retainer fee
in the amount of $3,000. The non-employee directors annual option to purchase 6,000 shares
of our common stock is at a price per share equal to the closing price of our stock on the
NASDAQ on the date of each annual meeting of shareholders in accordance with our
shareholder approved Nonemployee Director Stock Option Plan. See the Director Compensation
Table for 2007. Like executives, Board members may make personal use of Company aircraft
if such use does not conflict with any business purpose for the aircraft and provided the
director reimburses us for the incremental cost of such use. We believe this director
compensation to be reasonable and appropriate. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>21 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>



<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Stock Ownership </U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has adopted Stock Ownership Guidelines (*) providing that executive officers
should own three times their annual salaries in Company common stock and directors should
own two times their annual director fees in Company common stock. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Impact of Regulatory
Requirements </U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
making compensation design and award decisions, we have considered the ability to deduct
compensation in accordance with Internal Revenue Code Section 162(m). We have also
considered the impact of Section 16 of the Securities and Exchange Act of 1934 and rules
promulgated thereunder. Since we do not have a deferred compensation plan, it has not been
necessary for us to consider the impact of Internal Revenue Code Section 409A in
compensation design and award decisions. We have also undertaken certain actions disclosed
in our SEC filings with respect to the impact of expensing stock-based awards (including
stock options) under Statement of Financial Account Standards (SFAS) 123 (revised),
&#147;Share-Based Payment&#148; [SFAS 123(R)]. The new executive compensation disclosure
rules applicable to annual reports and proxy statements after December 15, 2006, have had
no material impact on our decisions regarding compensation. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Conclusion </U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;We
have reached the conclusion that each individual element of compensation, as well as the
total compensation, delivered to our named executive officers and to our directors during
2007 are reasonable, appropriate, and in the best interests of our Company and our
shareholders. That determination is based on our compensation philosophy and practices
which we believe align both the short-term and long-term interests of our employees with
those of our shareholders. Each element of our compensation program is important to
accomplishing the Company&#146;s goals of creating an entrepreneurial environment so that
our employees are motivated to remain with us, individually perform to the best of their
abilities, and focus on our long-term success. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>22 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>EXECUTIVE
COMPENSATION </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Summary Compensation
</U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table sets forth the compensation earned by the principal executive officer,
principal financial officer, and other executive officers for services rendered to the
Company for the fiscal year ended December 31, 2007. </FONT></P>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=660>
<TR VALIGN=TOP>
     <TH colspan=10><FONT FACE="Times New Roman" SIZE=2> Summary Compensation Table for 2007</FONT></TH></TR>
</TABLE>

<TABLE CELLPADDING=6 CELLSPACING=0 BORDER=1 WIDTH=660>
<TR VALIGN=TOP>
     <TH ><FONT FACE="Times New Roman" SIZE=1>(4)<BR>Name and Principal Position</FONT></TH>
     <TH ><FONT FACE="Times New Roman" SIZE=1>Year</FONT></TH>
     <TH ><FONT FACE="Times New Roman" SIZE=1>Salary<BR>($)</FONT></TH>
     <TH ><FONT FACE="Times New Roman" SIZE=1>Bonus<BR>($)</FONT></TH>
     <TH ><FONT FACE="Times New Roman" SIZE=1>(1) <BR>Stock Awards ($)</FONT></TH>
     <TH ><FONT FACE="Times New Roman" SIZE=1>(2) <BR>Option Awards ($)</FONT></TH>
     <TH ><FONT FACE="Times New Roman" SIZE=1>Non-Equity Incentive Plan Compensa-tion</FONT></TH>
     <TH ><FONT FACE="Times New Roman" SIZE=1>Change in Pension Value and Nonquali-fied Deferred Compensation Earnings<BR>($)</FONT></TH>
     <TH ><FONT FACE="Times New Roman" SIZE=1>(3) <BR>All Other Compensa-tion<BR>($)</FONT></TH>
     <TH ><FONT FACE="Times New Roman" SIZE=1> Total<BR>($)</FONT></TH></TR>
<TR VALIGN=TOP>
     <TD WIDTH=19% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Fred Bauer, Chairman and CEO</FONT></TD>
     <TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>2007<BR>2006</FONT></TD>
     <TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>388,984<BR>374,930</FONT></TD>
     <TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>73,316<BR>64,285</FONT></TD>
     <TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0&nbsp;&nbsp;&nbsp;&nbsp;<BR>0&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>408,984<BR>338,327</FONT></TD>
     <TD WIDTH=9% ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD WIDTH=9% ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>30,855<BR>29,070</FONT></TD>
     <TD WIDTH=9% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>902,139<BR>806,612</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Enoch Jen, Senior<BR>Vice President </FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>2007<BR>2006</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>220,330<BR>196,834</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>71,523<BR>51,653</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>102,285<BR>75,960</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>125,757<BR>126,499</FONT></TD>
     <TD WIDTH=9% ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD WIDTH=9% ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>27,402<BR>17,920</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>547,297<BR>468,866</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Dennis Alexejun, Vice President - North American Marketing </FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>2007<BR>2006</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>202,228<BR>191,230</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>48,126<BR>51,288</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>44,679<BR>65,184</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>60,414<BR>55,482</FONT></TD>
     <TD WIDTH=9% ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD WIDTH=9% ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>21,542<BR>23,229</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>376,989<BR>386,413</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>John Carter, Vice President -  Mechanical Engineering </FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>2007<BR>2006</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>215,932<BR>205,433</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>57,688<BR>52,191</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>96,600<BR>76,958</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>63,758<BR>94,891</FONT></TD>
     <TD WIDTH=9% ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD WIDTH=9% ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>25,978<BR>21,815</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>459,956<BR>451,288</FONT></TD></TR>
<TR VALIGN=TOP>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Steve Dykman, Vice President - Finance</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>2007</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>144,808</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>43,157</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>33,910</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>35,212</FONT></TD>
     <TD ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD ALIGN=center><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8,300</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>265,387</FONT></TD></TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1)</FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>     For
each outstanding restricted stock award, the value shown is what is also
          included in the Company&#146;s financial statements per SFAS 123(R),
          disregarding the estimate of forfeitures related to service-based vesting
          conditions. See the Company&#146;s Annual Report for the year ended December
31,           2007 and December 31, 2006. The actual number of restricted shares granted
is           shown in the &#147;Grants of Plan Based Awards for 2007&#148; table included
          herein. Assuming continued employment with the Company, restrictions on shares
          lapse upon expiration of five years from date of grant. Dividends are and will
          be paid on the shares if, and to the same extent, paid on the Company&#146;s
          common stock. Executive officers are eligible to receive restricted stock
awards           every three years.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>For
each outstanding stock option award, the value shown is what is also           included
in the Company&#146;s financial statements per SFAS 123(R),           disregarding the
estimate of forfeitures related to service-based vesting           conditions. See the
Company&#146;s Annual Reports for the years ended December           31, 2007 and
December 31, 2006, for a complete description of the SFAS 123(R)           valuation. The
actual number of stock options granted is shown in the           &#147;Grants of Plan
Based Awards for 2007&#148; table included herein.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Other
compensation represents the sum of restricted stock dividends and           &#147;matching&#148; contributions
by the Company pursuant to its 401(k) Plan.           In addition, other compensation
includes the use of Company automobiles for           Messrs. Bauer, Jen, Alexejun, and
Carter, pursuant to the Company&#146;s policy           for use of such vehicles and
membership fees at local country clubs for Messrs.           Bauer and Alexejun. These
amounts exclude personal use of Company aircraft,           which the Company makes
available to its executives when personal use does not           conflict with any
business purpose for the aircraft. Reimbursement of the           Company&#146;s
incremental cost is required for personal use of Company           aircraft, which is
calculated using average variable operating cost (including           fuel, maintenance,
use tax and other miscellaneous variable costs).  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 0-TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>As
disclosed in previously filed Forms 8-K, effective January 1, 2008, John           Carter
is no longer an executive officer of the Company. Effective January 2,           2007,
Steve Dykman became an executive officer of the Company.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>23 </FONT></P>


<!-- MARKER PAGE="; page: 25" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Grant of Plan-Based
Awards </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table discloses the actual number of restricted stock awards and stock options
granted and the grant date of those awards. It also captures potential future payouts
under the Company&#146;s nonequity and equity incentive plans. </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Grants of Plan-Based
Awards for 2007 </FONT></H1>

<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=660>
<TR VALIGN=TOP>
     <TH COLSPAN=3 ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>Name</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>(1)<BR>Grant Date</FONT></TH><TD></TD>
     <TH COLSPAN=8><FONT FACE="Times New Roman" SIZE=1>Estimated Future Payouts <BR>Under Non-Equity <BR>Incentive Plan Awards</FONT></TH><TD></TD>
     <TH COLSPAN=8><FONT FACE="Times New Roman" SIZE=1>Estimated Future Payouts<BR>Under Equity Incentive <BR>Plan Awards</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>All <BR>Other <BR>Stock</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>(2)<BR>All Other<BR>Option</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>(3)<BR>Exercise<BR>or Base </FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>(4)<BR>Grant <BR>Date </FONT></TH></TR>
<TR>
     <TD COLSPAN=2 ALIGN=RIGHT></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT></TD><TD></TD>
     <TD COLSPAN=8 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=8 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Awards: </FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Awards: </FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Price </FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Fair </FONT></TH>
</TR>
<TR VALIGN=TOP>
     <TH COLSPAN=3 ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1></FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Thres-<BR>hold <BR>($)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Target <BR>($)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Maxi-<BR>mum <BR>($)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Thres-<BR>hold<BR>(#)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Target <BR>(#)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Maxi-<BR>mum <BR>(#)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Number of Shares of Stock or Units <BR>(#)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Number of Securities Underlying Options <BR>(#)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>of Option Awards <BR>($/Sh)</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>Value of Stock and Option Awards<BR>($)</FONT></TH></TR>
<TR>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=2 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=11% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>Fred Bauer</FONT></TD>     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD>     <TD WIDTH=5% ALIGN=right><FONT FACE="Times New Roman" SIZE=1>8/9/07</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD>     <TD WIDTH=6% ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD>
         <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD>     <TD WIDTH=6% ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD>
         <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD>     <TD WIDTH=6% ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD>
         <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD>     <TD WIDTH=6% ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD>
         <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD>     <TD WIDTH=6% ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD>
         <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD>     <TD WIDTH=6% ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD>
         <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD WIDTH=6% ALIGN=center><FONT FACE="Times New Roman" SIZE=1>0</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>103,000</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>21.17</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>703,068</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT colspan=3><FONT FACE="Times New Roman" SIZE=1>Enoch Jen</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=right><FONT FACE="Times New Roman" SIZE=1>3/30/07</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>10,800</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>26,250</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>16.25</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>285,278</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT colspan=3><FONT FACE="Times New Roman" SIZE=1>Dennis Alexejun</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=right><FONT FACE="Times New Roman" SIZE=1>9/25/07</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>6,600</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>18,930</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>19.59</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>224,838</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT colspan=3><FONT FACE="Times New Roman" SIZE=1>John Carter</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT colspan=3><FONT FACE="Times New Roman" SIZE=1>Steve Dykman</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=right><FONT FACE="Times New Roman" SIZE=1>12/27/07</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1></FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=1>-</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>12,600</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>18.12</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=1>56,766</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>&nbsp;</FONT></TD></TR>
</TABLE>

<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Grant Date is the date the Compensation Committee met to approve the grants.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>These
options are seven year options that become exercisable, as long as the
          employment with the Company continues, for twenty percent of the shares on each
          anniversary of the grant date commencing with the first anniversary of the
grant           date.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
exercise price was the closing price of the stock on the date the           Compensation
Committee met to approve the option grants. The exercise price may           be paid in
cash, in shares of the Company&#146;s common stock, and/or by the           surrender of
the exercisable options valued at the difference between the           exercise price and
the market value of the underlying shares.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Stock
option grant date fair values are based on the Black-Scholes option           valuation
model in accordance with SFAS 123 (R). Restricted stock awards           represent the
aggregate value at the date of grant for shares of common stock           awarded under
the Company&#146;s Second Restricted Stock Plan. See the           Company&#146;s Annual
Report for the year ended December 31, 2007 for additional           information.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>24 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>





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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Outstanding Equity
Awards at Fiscal Year End </U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table shows outstanding stock option awards classified as exercisable and
unexercisable as of December 31, 2007, for the named executive officers. It also shows
restricted stock awards not yet vested as of December 31, 2007. </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Outstanding Equity
Awards at Fiscal Year-End at December 31, 2007 </FONT></H1>



<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=660>
<TR VALIGN=TOP>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=14><FONT FACE="Times New Roman" SIZE=2>Option Awards</FONT></TH>
     <TH COLSPAN=11><FONT FACE="Times New Roman" SIZE=2>Stock Awards</FONT></TH></TR>
<TR>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TD COLSPAN=14 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD>
     <TD COLSPAN=11 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=TOP>
     <TH COLSPAN=3 ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=1>Name</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>     (1)    <BR>
   Number
     of
 Securities
 Underlying
 Unexercised
   Options
     (#)
 Exercisable
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>     (1)       <BR>
  Number of
  Securities
  Underlying
 Unexercised
   Options
     (#)
 Unexercis-able
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>   Equity
 Incentive
    Plan
  Awards:
 Number of
 Securities
 Underlying
Unexer-cised
  Unearned
  Options
    (#)
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>   (2)  <BR>
Option
Exercise
  Price
   ($)
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>   Option
Expiration
    Date
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>  (3)  <BR>
Number
of
Shares
or
Units
of
Stock
That
Have
Not
Vested
  (#)
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>   (4)    <BR>
Market
Value of
Shares or
Units of
Stock
That Have
Not Vested
   ($)
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>    Equity
Incentive Plan
Awards: Number
  of Unearned
 Shares, Units
   or Other
  Rights That
Have Not Vested
      (#)
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=1>    Equity
  Incentive
 Plan Awards:
  Market or
 Payout Value
 of Unearned
Shares, Units
   or Other
 Rights That
   Have Not
    Vested
     ($)
</FONT></TH></TR>
<TR>
     <TD COLSPAN=29 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=17% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Fred Bauer</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=5% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>160,000</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14.51</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8/17/08</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=6% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=8% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=10% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=10% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>160,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14.11</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8/15/09</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>180,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>16.71</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8/12/10</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>189,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>17.25</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8/12/11</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>39,200</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>58,800</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>18.03</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8/11/12</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>19,600</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>78,400</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>13.52</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8/10/13</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>103,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>21.17</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>8/9/14</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=9 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD>
     <TD COLSPAN=6></TD>
     <TD COLSPAN=11 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>747,800</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>240,200</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD COLSPAN=6></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=29 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Enoch  Jen</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>7,964</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14.75</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3/27/09</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>18,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>319,860</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>7,320</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12.82</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3/28/10</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>10,800</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>191,916</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>38,400</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>21.10</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3/26/11</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>16,160</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>24,240</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>15.93</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3/30/12</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>5,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>20,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14.00</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>6/30/13</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>26,250</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>16.25</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3/30/14</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=9 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD>
     <TD COLSPAN=6></TD>
     <TD COLSPAN=11 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>67,524</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>77,810</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD COLSPAN=6></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>28,800</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>511,776</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=29 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Dennis Alexejun</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>5,928</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14.29</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>9/25/09</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>11,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>195,470</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3,400</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>10,200</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>17.13</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>9/29/12</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>6,600</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>117,282</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>3,604</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14,416</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14.36</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>9/20/13</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>18,930</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>19.59</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>9/25/14</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=9 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD>
     <TD COLSPAN=6></TD>
     <TD COLSPAN=11 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12,932</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>43,546</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD COLSPAN=6></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>17,600</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>312,752</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=29 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>John Carter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>6,176</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>15.33</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>6/30/10</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>18,700</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>332,299</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>32,420</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>19.84</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>6/30/11</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14,030</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>249,313</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>6,808</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>10,212</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>18.20</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>6/30/12</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14,296</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14.00</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>6/30/13</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=9 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD>
     <TD COLSPAN=6></TD>
     <TD COLSPAN=11 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>39,228</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>30,684</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD COLSPAN=6></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>32,730</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>581,612</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=29 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Steve Dykman</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>17,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>21.50</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12/24/08</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>4,200</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>74,634</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>17,860</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>17.71</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12/22/09</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>5,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>88,850</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>4,690</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>4,690</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>19.50</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12/27/10</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>2,400</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>9,600</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>15.85</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12/27/13</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12,600</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>18.12</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12/27/14</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=9 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD>
     <TD COLSPAN=6></TD>
     <TD COLSPAN=11 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>41,950</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>26,890</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD COLSPAN=6></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>9,200</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>163,484</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2></FONT></TD></TR>
<TR>
     <TD COLSPAN=29 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
</TABLE>


<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>25 </FONT></P>


<!-- MARKER PAGE="; page: 27" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>



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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>These
options become exercisable, as long as employment with the Company           continues,
for twenty percent of the shares on each anniversary of the grant           date
commencing with the first anniversary of the grant date. Mr. Dykman has           44,240
five year options, that become exercisable, as long as employment with           the
Company continues, for twenty five percent of the shares each anniversary of
          the grant date commencing on the first anniversary of the grant date. These
          options were granted to Mr. Dykman before he became an executive officer. On
          March 30, 2005, in response to the required implementation of SFAS No. 123(R),
          the Company accelerated the vesting of current &#147;under water&#148; stock
          options. As a result of the vesting acceleration, stock option grants with an
          expiration date of 8/12/10, 9/24/10, 3/26/11, 6/30/11, 8/12/11 and 9/29/11
          became immediately exercisable.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
exercise price was the closing price of the stock on the date the           Compensation
Committee met to approve the option grants. The exercise price may           be paid in
cash, in shares of the Company&#146;s common stock, and/or by the           surrender of
the exercisable options valued at the difference between the           exercise price and
the market value of the underlying shares.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Assuming
continued employment with the Company, restrictions on shares lapse           upon the
expiration of five years from the date of grant. Dividends are and will           be paid
on these shares if, and to the same extent, paid on the Company&#146;s           common
stock.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Represents
the aggregate market value as of 12/31/07 for shares of common stock           awarded
under the Company&#146;s Second Restricted Stock Plan.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Option Exercises and
Stock Vested </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table contains information regarding the exercise of stock options during the
fiscal year ended December 31, 2007, by the following executive officers: </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Option Exercises and
Stock Vested for 2007 </FONT></H1>



<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=660>
<TR VALIGN=Bottom>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=5><FONT FACE="Times New Roman" SIZE=2>Option Awards</FONT></TH><TD></TD>
     <TH COLSPAN=5><FONT FACE="Times New Roman" SIZE=2>Stock Awards</FONT></TH></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=11 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=TOP>
     <TH COLSPAN=3 ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Name</FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>  Number of
    Shares
   Acquired
 on Exercise<BR>
     (#)
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Value Realized
 on Exercise   <BR>
     ($)
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Number of
  Shares
 Acquired on Vesting<BR>(#)
</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>Value Realized
on Vesting<BR>
   ($)
</FONT></TH></TR>
<TR>
     <TD COLSPAN=14 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=34% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Fred Bauer</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=13% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>144,000</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=13% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>990,000</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=13% align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=13% align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Enoch Jen</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>62,718</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>436,923</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Dennis Alexejun</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>111,794</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>355,226</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>John Carter</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>85,678</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>399,276</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Steve Dykman</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>16,180</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>49,511</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD align=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company has not adopted any long-term incentive plan, defined benefit or actuarial plan,
or nonqualified deferred compensation plan, as those terms are defined in applicable laws,
rules, and regulation promulgated by the Securities and Exchange Commission. The Company
does not have any contracts with its named executive officers linked to a change in
control of the Company other than with respect to vesting certain restricted stock or
stock option awards which provisions are applicable to all employees receiving such
awards. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>26 </FONT></P>


<!-- MARKER PAGE="; page: 28" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>DIRECTOR COMPENSATION
</U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table discloses the cash, stock option awards, and other compensation earned,
paid, or awarded to each of the Company&#146;s directors during the fiscal year 2007. </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Director Compensation
for 2007 </FONT></H1>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=660>
<TR VALIGN=Top>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=1>Name</FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=1>    (1)   <BR>
Fees Earned
     or
  Paid in
    Cash
    ($)
</FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=1>Stock
Awards
 ($)
</FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=1> (2)  <BR>
Option
Awards
 ($)
</FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=1> Non-Equity
 Incentive
    Plan
Compensation
     ($)
</FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=1>Change in Pension
    Value and
  Nonqualified
    Deferred
   Compensation
    Earnings
</FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=1>     (3)     <BR>
  All Other
Compensation
     ($)
</FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=1>Total<BR>($)</FONT></TH></TR>
<TR>
     <TD COLSPAN=23 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=21% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Gary Goode</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=7% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>32,100</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=7% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=7% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>37,712</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=7% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=7% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=7% ALIGN=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD WIDTH=3% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=7% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>69,812</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Arlyn Lanting</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14,900</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>37,712</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>52,612</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Kenneth La Grand</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14,900</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>37,712</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;(4)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>52,612</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>John Mulder</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>14,900</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>37,712</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>5,500</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;(4)</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>58,112</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Rande Somma</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>18,700</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>37,712</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>56,412</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Fred Sotok</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>28,300</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>37,712</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>66,012</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Wallace Tsuha</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>19,700</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>37,712</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>57,412</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Jim Wallace</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>9,200</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>37,712</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>-</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=center><FONT FACE="Times New Roman" SIZE=2>0</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>46,912</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>

<BR>


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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(1) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Directors
who are employees of the Company receive no compensation for services           as
directors. Directors who are not employees of the Company receive a           director&#146;s
retainer in the amount of $10,000 per year plus $1,500 for each           meeting of the
Board attended and $1,000 for each committee meeting attended.           Directors who
are chairman of the Compensation and Audit Committees receive an           additional
retainer fee in the amount of $3,000 per year.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(2) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Nonemployee
directors who are directors immediately following each Annual           Meeting of
Shareholders are entitled to receive an option to purchase 6,000           shares of the
Company&#146;s common stock at a price per share equal to the           closing price of
the Company&#146;s stock on NASDAQ on that date. Each option           has a term of ten
years and becomes exercisable in full six months after the           date of grant. For
each outstanding stock option award, the value shown is what           is also included
in the Company&#146;s financial statements per SFAS 123(R). See           the Company&#146;s
Annual Report for the year ended December 31, 2007, for a           complete description
of the SFAS 123(R) valuation.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(3) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Company also makes Company aircraft available to directors for personal use           if
such use does not conflict with any business purpose for the aircraft.
          Reimbursement of the Company&#146;s incremental cost is required for personal
          use of Company aircraft, which is calculated using average variable operating
          cost (including fuel, maintenance, use tax and other miscellaneous variable
          costs).  </FONT></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(4) </FONT></TD>
<TD WIDTH=95% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The
Company has entered into consulting agreements with John Mulder and Ken La
          Grand, subsequent to each gentlemen&#146;s retirement in June 2002 and January
          2003, respectively. During 2007, the Company paid Mr. Mulder $5,500 in
          consulting fees, plus reimbursement of business expenses. During 2007, the
          Company did not pay Mr. La Grand any consulting fees.  </FONT></TD>
</TR>
</TABLE>
<BR>

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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>27 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table summarizes securities issued and to be issued under the Company&#146;s
equity compensation plans as of December 31, 2007: </FONT></P>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Executive Compensation
Plan Summary </FONT></H1>


<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=660>
<TR VALIGN=Bottom>
     <TH COLSPAN=3 ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Plan Category </FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2>Number of securities <BR>
  to be issued upon  <BR>
     exercise of     <BR>
outstanding options, <BR>
 warrants and rights
</FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2>Weighted average<BR>
 exercise price <BR>
 of outstanding <BR>
    options,
  warrants <BR>and
     rights
</FONT></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2>    Number of securities<BR>
  remaining available for<BR>
   future issuance under<BR>
 equity compensation <BR>plans
   (excluding <BR>securities
   reflected in <BR>the first
          column)
</FONT></TH></TR>
<TR>
     <TD COLSPAN=11 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=28% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Equity compensation Plans approved by Shareholders</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=20% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>10,253,467</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD WIDTH=20% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>    $16.515</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD WIDTH=20% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12,597,852</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2><BR>Equity Compensation Plans not approved by Shareholders</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2><BR>Total</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>10,253,467</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2></FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>   $ 16.515</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>12,597,852</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>




<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><I>Compensation
Committee Interlocks and <BR> Insider Participation </I> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Compensation Committee is comprised solely of members of the Company&#146;s Board of
Directors who are independent under the applicable NASDAQ listing standards. For the
fiscal year ended December 31, 2007, that Committee was responsible for supervising the
Company&#146;s executive compensation arrangements, including the making of decisions with
respect to the award of stock-based incentives for executive officers during that year. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>CERTAIN TRANSACTIONS
</U> </FONT></H1>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee of the Company reviews and approves all related party transactions in
accordance with its Charter. The Code of Business Conduct and Ethics requires directors,
officers, and employees to report these types of matters. In addition, the Company uses
questionnaires for its directors and officers annually in part to discover any unreported
related-party transactions. The approval of the Audit Committee is required for
related-party transactions. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Since
1978, prior to the time the Company became a publicly held corporation, the Company has
leased a building that previously housed its main office, manufacturing and warehouse
facilities, and currently houses production operations for the Company&#146;s fire
protection products. The lessor for that building is G &amp; C Associates, a general
partnership, and nearly all of the partnership interests in G &amp; C Associates are held
by persons related to Fred Bauer. The lease is a &#147;net&#148; lease, obligating the
Company to pay all expenses for maintenance, taxes, and insurance, in addition to rent.
During 2007, the rent paid to this partnership was $52,153, and the rent for the current
fiscal year is the same. The Board of Directors believes that the terms of this lease are
at least as favorable to the Company as could have been obtained from unrelated parties. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jeremy
Fogg, Director of Mechanical Engineering Program Management, is the son-in-law of Fred
Bauer, the Company&#146;s Chairman of the Board and Chief Executive Officer. In 2007,
Jeremy Fogg earned $140,086, including profit-sharing and performance-based bonuses.
Jeremy Fogg also received options to purchase 6,320 shares of Gentex common stock at an
exercise price of $19.59, and also received a restricted stock grant of 4,000 shares
valued at $78,360. All of Mr. Fogg&#146;s compensation is determined under and in
accordance with the Company&#146;s existing compensation plans and policies applicable to
all salaried employees. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>28 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>



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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is highly selective, and hires new employees based upon merit. Employees may also
be eligible for certain other benefits which are similarly available on no less favorable
terms to other employees of the Company at the same level and pay rate. Family members of
any employee are not discouraged from seeking employment. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>RATIFICATION OF
APPOINTMENT OF INDEPENDENT AUDITORS &#150; PRINCIPAL ACCOUNTING FEES AND SERVICES </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Audit Committee and Board of Directors have selected, and submits to shareholders for
ratification, Ernst &amp; Young LLP to serve as the Company&#146;s independent auditors
for the fiscal year ending December 31, 2008. The following fees were billed by Ernst
&amp; Young LLP, the Company&#146;s independent auditors, for the services provided to the
Company during the fiscal years ended December 31: </FONT></P>



<TABLE CELLPADDING=0 CELLSPACING=0 BORDER=0 WIDTH=600>
<TR VALIGN=Bottom>
     <TH COLSPAN=3><FONT FACE="Times New Roman" SIZE=2></FONT></TH>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>2007</FONT></TH><TD></TD>
     <TH COLSPAN=2><FONT FACE="Times New Roman" SIZE=2>2006</FONT></TH></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=5 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH=50% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Audit Fees</FONT></TD>
     <TD WIDTH=1% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=7% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 189,100</FONT></TD>
        <TD WIDTH=8% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH=1% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD WIDTH=15% ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 203,900</FONT></TD>
        <TD WIDTH=2% ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Audit-Related</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Tax Services</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>57,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>57,000</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>All Other</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>--</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=5 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
<TR VALIGN=Bottom>
     <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>Total</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD><TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 246,100</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD>
     <TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2>$</FONT></TD><TD ALIGN=RIGHT><FONT FACE="Times New Roman" SIZE=2> 260,900</FONT></TD>
        <TD ALIGN=LEFT><FONT FACE="Times New Roman" SIZE=2>&nbsp;</FONT></TD></TR>
<TR>
     <TD COLSPAN=3></TD>
     <TD COLSPAN=5 ALIGN=RIGHT><HR COLOR=#000000 SIZE=1></TD><TD></TD></TR>
</TABLE>




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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Audit
fees include the annual audit of the Company&#146;s consolidated financial statements, the
audit of internal control over financial reporting, timely quarterly reviews, foreign
statutory audits and consultations concerning accounting matters associated with the
annual audit. Tax services primarily include amounts billed for assistance with the
calculation of the extra-territorial exclusion. All non-audit services were pre-approved
by the Audit Committee pursuant to the Revised Audit Committee Procedures for Approval of
Audit and Non-audit Services by Independent Auditors, which is attached as Appendix A to
this Proxy Statement. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Although
ratification of the independent auditors by the Company&#146;s shareholders is not legally
required, our Audit Committee and Board of Directors believes that submission of this
matter to the shareholders follows sound business practice and is in the best interest of
shareholders in the current environment. If the shareholders do not approve the selection
of Ernst &amp; Young LLP, the selection of such firm as our independent auditors will be
reconsidered by the Audit Committee. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Representatives
of Ernst &amp; Young are expected to be present at the Annual Meeting to respond to
appropriate questions and will have an opportunity to make a statement if they desire. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>SECTION 16(A)
BENEFICIAL OWNERSHIP REPORTING COMPLIANCE </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
upon a review of Forms 3, 4, and 5 furnished to the Company during or with respect to the
preceding fiscal year and written representations from certain reporting persons, the
Company is not aware of any failure by any reporting person to make timely filings of
those Forms as required by Section 16(a) of the Securities Exchange Act of 1934, except
that Dennis Alexejun was late in reporting the sale of 10,000 shares in April of 2007 and
the sale of 23,712 shares in May of 2007. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>29 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>



<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>SHAREHOLDER PROPOSALS
</U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
proposal of a shareholder intended to be presented at the 2009 Annual Meeting of the
Company must be received by the Company at its headquarters, c/o Corporate
Secretary&#146;s Office, 600 North Centennial Street, Zeeland, Michigan 49464, no later
than November 28, 2008, if the shareholder wishes the proposal to be included in the
Company&#146;s Proxy Statement relating to that meeting. In addition, the Company&#146;s
Bylaws contain certain notice and procedural requirements applicable to shareholder
proposals, irrespective of whether the proposal is to be included in the Company&#146;s
Proxy materials. To be timely, such a shareholder&#146;s notice must be delivered, or
mailed and received at, the Company&#146;s headquarters no later than ten (10) business
days after April 4, 2008. A copy of the Company&#146;s Bylaws is filed with the Securities
and Exchange Commission and can be obtained from the Public Reference Section of the
Commission or the Company. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold-TNR" FSL="Project" -->
<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>MISCELLANEOUS </U> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company&#146;s Annual Report to Shareholders, including financial statements, is being
delivered to shareholders with this Proxy Statement. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management
is not aware of any matters to be presented for action at the Annual Meeting other than as
set forth in this Proxy Statement. If other business should come before the meeting, it is
the intention of the persons named as Proxy holders in the accompanying Proxy to vote the
shares in accordance with their judgment. Discretionary authority to do so is included in
the Proxy. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
cost of the solicitation of Proxies will be borne by the Company. In addition to the use
of the mail and e-mail, Proxies may be solicited personally or by telephone or facsimile
by a few regular employees of the Company without additional compensation. The Company
does not intend to pay any compensation for the solicitation of Proxies, except that
brokers, nominees, custodians, and other fiduciaries will be reimbursed by the Company for
their expenses in connection with sending Proxy materials to registered and beneficial
owners and obtaining their Proxies. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders
are urged to promptly vote your shares either on the Internet (preferred method), via
telephone, or by dating, signing, and returning the accompanying Proxy in the enclosed
envelope. </FONT></P>



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<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2><BR><BR><BR><BR><BR><BR>April 4, 2008</FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>BY ORDER OF THE BOARD OF DIRECTORS<BR><BR>
<BR>/s/ Connie Hamblin<BR><BR>
Connie Hamblin<BR>Secretary</FONT></TD>
</TR>
</TABLE>
<BR>



<!-- MARKER FORMAT-SHEET="Para Left-TNR" FSL="Project" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>April 4, 2008 </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Center-TNR" FSL="Default" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>30 </FONT></P>


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<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>








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<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(This page
intentionally left blank) </FONT></P>


<!-- MARKER PAGE="; page: 33" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>APPENDIX A </FONT></H1>


<p align=center><IMG SRC="gentex-logo.gif">
<!-- MARKER FORMAT-SHEET="Para Center Underline-TNR" FSL="Project" -->
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2><U>Revised Audit
Committee <BR>Procedures for
Approval of Audit and Non-Audit<BR>Services by
Independent Auditors </U></FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush (Regular) Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The following procedure is adopted by
the Audit Committee relating to the approval of audit and non-audit services provided by
the Company&#146;s independent auditors. </FONT></P>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1. </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The Committee has reviewed and approved work to be performed by the independent
               auditors in the areas of tax, audit and advisory services and subcategories
               within each category as designated on the attached schedule. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>2. </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               Any additional audit and non-audit work performed by the independent auditors
               that is not included on the attached schedule must be specifically pre-approved
               as follows: </FONT></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>a.  </FONT></TD>
<TD WIDTH=85% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If
the proposed independent auditors&#146; engagement is equal to or less than
               $25,000, the Chairman of the Audit Committee must pre-approve the work and
will                communicate his approval to the full Audit Committee at the next
regularly                scheduled meeting of the Audit Committee.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang Lv 2 -TNR" FSL="Project" -->
<TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>b.  </FONT></TD>
<TD WIDTH=85% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>If
the proposed independent auditors&#146; engagement is greater than $25,000,
               the full Audit Committee must pre-approve the work.  </FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Numbered List - Hang LV 1-TNR" FSL="Project" -->
          <TABLE WIDTH=100% CELLPADDING=0 CELLSPACING=0 BORDER=0>
               <TR VALIGN=TOP>
               <TD WIDTH=5%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
               <TD WIDTH=5% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>3. </FONT></TD>
               <TD WIDTH=90% ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
               The independent auditors may not conduct any work that is prohibited by
               applicable SEC rules or regulations. </FONT></TD>
               </TR>
               </TABLE>
               <BR>

<!-- MARKER FORMAT-SHEET="Para Left-TNR" FSL="Default" -->
<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Effective October 30, 2003 </FONT></P>


<!-- MARKER PAGE="; page: 34" -->
<HR SIZE=3 NOSHADE><p Style='page-break-before:always'>


<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>APPENDIX B </FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>FIRST AMENDMENT TO THE<BR>GENTEX CORPORATION
SECOND RESTRICTED STOCK PLAN </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
FIRST AMENDMENT TO THE GENTEX CORPORATION SECOND RESTRICTED STOCK PLAN
(&#147;Amendment&#148;) is adopted by the Board of Directors of Gentex Corporation, a
Michigan corporation (the &#147;Company&#148;), as of the 21st day of February,&nbsp;2008,
with reference to the following: </FONT></P>

<!-- MARKER FORMAT-SHEET="Numbered List Flush Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The Gentex Corporation Second Restricted Stock Plan (the &#147;Plan&#148;) was
          originally approved by the Company&#146;s Board of Directors on March
          2,&nbsp;2001, and was approved by the Company&#146;s shareholders on
          May&nbsp;16,&nbsp;2001. </FONT></P>

<!-- MARKER FORMAT-SHEET="Numbered List Flush Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          The Board of Directors has elected to amend the Plan to increase the maximum
          number of shares that may be subject to Awards to 2,000,000 shares (in the
          aggregate) and to change the Plan&#146;s termination date from March 2, 2011 to
          February 21, 2018. This Amendment is subject to the approval of the shareholders
          of the Company. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE, subject to the approval of the shareholders of the Company, the Plan is amended
as follows: </FONT></P>

<!-- MARKER FORMAT-SHEET="Numbered List Flush Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          In Section 3a, the maximum number of shares that may be subject to Awards under
          the Plan is hereby increased to 2,000,000 shares in the aggregate. </FONT></P>

<!-- MARKER FORMAT-SHEET="Numbered List Flush Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          In Section 7, the existing termination date of March 2, 2011, is hereby be
          deemed replaced with February 21, 2018, as the new terminate date. </FONT></P>

<!-- MARKER FORMAT-SHEET="Numbered List Flush Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          In all other respects, the Plan shall continue in full force and effect. </FONT></P>

<!-- MARKER FORMAT-SHEET="Numbered List Flush Lv 0- TNR" FSL="Project" -->
     <P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
          Capitalized terms not otherwise defined herein shall be defined as in the Plan. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Project" -->
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=2>CERTIFICATION </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
foregoing Amendment was duly adopted by the Board of Directors of the Company, effective
February 21, 2008, subject to the approval of the Company&#146;s shareholders. </FONT></P>


<!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Project" -->
<TABLE WIDTH=100% CELLSPACING=0 CELLPADDING=0 BORDER=0>
<TR VALIGN=TOP>
<TD WIDTH=40%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2></FONT></TD>
<TD WIDTH=50%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
<BR>/s/ Connie Hamblin<BR><BR>
Connie Hamblin, Secretary<BR>Gentex Corporation</FONT></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER PAGE="; page: 35" -->
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
