<SEC-DOCUMENT>0000930413-12-006621.txt : 20121218
<SEC-HEADER>0000930413-12-006621.hdr.sgml : 20121218
<ACCEPTANCE-DATETIME>20121218160352
ACCESSION NUMBER:		0000930413-12-006621
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20130130
FILED AS OF DATE:		20121218
DATE AS OF CHANGE:		20121218
EFFECTIVENESS DATE:		20121218

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRIFFON CORP
		CENTRAL INDEX KEY:			0000050725
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL DOORS, SASH, FRAMES, MOLDING & TRIM [3442]
		IRS NUMBER:				111893410
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06620
		FILM NUMBER:		121271420

	BUSINESS ADDRESS:	
		STREET 1:		712 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		2129575000

	MAIL ADDRESS:	
		STREET 1:		712 FIFTH AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INSTRUMENT SYSTEMS CORP /DE/
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>c71278_def14a.htm
<TEXT>
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<P style="text-indent:7mm; "><FONT style="font-family:serif; font-size:3.8mm; "><hr noshade="noshade" color="k" align="center" style="width:100%; height:3.00pt;"><hr noshade="noshade" color="k" align="center" style="width:100%; height:1.00pt;margin-top:-8pt;"></FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:5.2mm; "><B>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION</B></FONT><FONT style="font-family:serif; font-size:4.5mm; "><B><br>WASHINGTON, DC 20549</B></FONT></P>
<P align="center" style="margin:3.9mm 0 0; "><FONT style="font-family:serif; font-size:6.6mm; "><B>SCHEDULE 14A<br>(Rule 14a-101)</B></FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>INFORMATION REQUIRED IN PROXY STATEMENT<br>SCHEDULE 14A INFORMATION</B></FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Proxy Statement Pursuant to Section 14(a) of the Securities<br>Exchange Act of 1934 (Amendment No. <font style="word-spacing: 0.50pc;">&nbsp;</font>)</FONT></P>
<P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Filed by the Registrant </FONT><FONT style="font-family:sans-serif; font-size:3.8mm; "><font face="Wingdings 2">&#83;</font></FONT></P>
<P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Filed by a Party other than the Registrant </FONT><FONT style="font-family:sans-serif; font-size:3.8mm; "><font face="Wingdings 2">&#163;</font></FONT></P>
<P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Check the appropriate box:</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:4pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings 2">&#163;</font></FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Preliminary Proxy Statement</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:4pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; "><font face="Wingdings 2">&#163;</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</B></FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:4pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; "><font face="Wingdings 2">&#83;</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Definitive Proxy Statement</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:4pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; "><font face="Wingdings 2">&#163;</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Definitive Additional Materials</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:4pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; "><font face="Wingdings 2">&#163;</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Soliciting Material Pursuant to &sect;240.14a-12</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>

<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:8mm; "><B>GRIFFON CORPORATION</B></FONT><FONT style="font-family:serif; font-size:3.8mm; "><br>(Name of Registrant as Specified In Its Charter)<br>(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Payment of Filing Fee (Check the appropriate box):</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:4pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings 2">&#83;</font></FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      No fee required.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:4pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; "><font face="Wingdings 2">&#163;</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:2.83pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:16pt;"><p style="margin-top:8pt;">&nbsp;</p></td>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; "> (1)</FONT></P></TD>
    <TD><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD>&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; "> Title
          of each class of securities to which transaction applies:</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &nbsp;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17" style="border-bottom:1px solid #000000"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &nbsp;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:16pt;"><p style="margin-top:0pt;">&nbsp;</p></td>
  </TR>
  <TR valign="top">
    <TD align="right"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(2)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD>&nbsp;</TD>
    <TD colspan="17"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Aggregate
          number of securities to which transaction applies:</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
    <TD><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD>&nbsp;</TD>
    <TD colspan="17" style="border-bottom:1px solid #000000"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right">&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD style="width:16pt;"><p style="margin-top:0pt;">&nbsp;</p></td>
  </TR>
  <TR valign="top">
    <TD align="right"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(3)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD>&nbsp;</TD>
    <TD colspan="17"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">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></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
    <TD><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD>&nbsp;</TD>
    <TD colspan="17" style="border-bottom:1px solid #000000"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right">&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD style="width:16pt;"><p style="margin-top:0pt;">&nbsp;</p></td>
  </TR>
  <TR valign="top">
    <TD align="right"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(4)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD>&nbsp;</TD>
    <TD colspan="17"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Proposed
          maximum aggregate value of transaction:</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
    <TD><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD>&nbsp;</TD>
    <TD colspan="17" style="border-bottom:1px solid #000000"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right">&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD style="width:16pt;"><p style="margin-top:0pt;">&nbsp;</p></td>
  </TR>
  <TR valign="top">
    <TD align="right"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(5)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD>&nbsp;</TD>
    <TD colspan="17"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Total
          fee paid:</FONT></P>
        <P style="text-indent:11.9mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
    <TD><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD>&nbsp;</TD>
    <TD colspan="17" style="border-bottom:1px solid #000000"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right">&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">&nbsp;</TD>
  </TR>
</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:4pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:sans-serif; font-size:3.8mm; ">
      <font face="Wingdings 2">&#163;</font></FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Fee paid previously with preliminary materials.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:4pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:sans-serif; font-size:3.8mm; "><font face="Wingdings 2">&#163;</font></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">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>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:2.83pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:16pt;"><p style="margin-top:8pt;">&nbsp;</p></td>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; "> (1)</FONT></P></TD>
    <TD><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD>&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; "> Amount
          Previously Paid:</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &nbsp;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17" style="border-bottom:1px solid #000000"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &nbsp;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:16pt;"><p style="margin-top:0pt;">&nbsp;</p></td>
  </TR>
  <TR valign="top">
    <TD align="right"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(2)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD>&nbsp;</TD>
    <TD colspan="17"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Form,
          Schedule or Registration Statement No.:</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
    <TD><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD>&nbsp;</TD>
    <TD colspan="17" style="border-bottom:1px solid #000000"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right">&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD style="width:16pt;"><p style="margin-top:0pt;">&nbsp;</p></td>
  </TR>
  <TR valign="top">
    <TD align="right"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(3)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD>&nbsp;</TD>
    <TD colspan="17"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Filing
          Party:</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
    <TD><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD>&nbsp;</TD>
    <TD colspan="17" style="border-bottom:1px solid #000000"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right">&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">&nbsp;</TD>
  </TR>
  <TR valign="top">
    <TD style="width:16pt;"><p style="margin-top:0pt;">&nbsp;</p></td>
  </TR>
  <TR valign="top">
    <TD align="right"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(4)</FONT></P></TD>
    <TD>&nbsp;</TD>
    <TD><P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD>&nbsp;</TD>
    <TD colspan="17"><P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Date
          Filed:</FONT></P>
        <P style="text-indent:11.9mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
    <TD><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD>&nbsp;</TD>
    <TD colspan="17" style="border-bottom:1px solid #000000"><P><FONT style="font-family:serif; font-size:3.8mm; "> &nbsp;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="right">&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">&nbsp;</TD>
  </TR>
</TABLE>

<P style="text-indent:7mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><hr noshade="noshade" color="k" align="center" style="width:100%; height:1.00pt;"><hr noshade="noshade" color="k" align="center" style="width:100%; height:3.00pt;margin-top:-8pt;"></FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">

<PAGE>

<P align="center"><FONT style="font-family:serif; font-size:3.8mm; "><p align="center"><img src="c64644xgriffonxsmallblack.jpg" style="margin:0 0 0 0; border:   ;"></p></FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Notice of Annual Meeting of Stockholders</B></FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="top">
    <TD style="width:18.42%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:78.07%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>


  <TR valign="top">
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Time and Date:</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      10:30 a.m. Eastern Standard Time, on January 30, 2013</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Place:</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Dechert LLP, 1095 Avenue of the Americas, New York, New York 10036</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD nowrap><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Items of Business:</B></FONT></P></TD>
    <TD width="3" nowrap>&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      1. Election of four directors for a term of three years</FONT></P></TD>
  </TR>
  <TR valign="top">
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      2. To conduct an advisory vote on executive compensation</FONT></P></TD>
  </TR>
  <TR valign="top">
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      3. Ratification of the selection by our Audit Committee of Grant Thornton LLP to serve as our independent registered public accounting firm for fiscal year 2013</FONT></P></TD>
  </TR>
  <TR valign="top">
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      4. Any other matters that properly come before the meeting</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Who may Vote:</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      You can vote if you were a stockholder at the close of business on December 12, 2012, the record date</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Materials to
      Review:</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      This booklet contains our Notice of Annual Meeting and Proxy Statement. You may access this booklet, as well as our 2012 Annual Report to Stockholders and our Annual Report on Form 10-K for the fiscal year ended September 30, 2012, at the following website: <u style="border-bottom: 0.25pt
      black;;">http://www.amstock.com/ProxyServices/ViewMaterial.asp?CoNumber=03170</u></FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      About Proxy<br>Voting:</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Your vote is important. Proxy voting permits stockholders unable to attend the Annual Meeting to vote their shares through a proxy. Most stockholders are unable to attend the Annual Meeting. By appointing a proxy, your shares will be represented and voted in accordance with your instructions. You
      can vote your shares by completing and returning your proxy card. Proxy cards that are signed and returned but do not include voting instructions will be voted by the proxies as recommended by the Board of Directors. Most stockholders can also vote shares by following the Internet or telephone
      voting instructions provided on the proxy card. You can change your voting instructions or revoke your proxy at any time prior to the Annual Meeting by following the instructions included in this proxy statement and on the proxy card.</FONT></P></TD>
  </TR>
</TABLE>

<P align="center" style="margin:8.4mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>This proxy statement is dated December 18, 2012<br>and is being mailed with the form of proxy on or shortly after December 18, 2012.</I></B></FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">

<PAGE>

<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>INTERNET AVAILABILITY OF PROXY MATERIALS</B></FONT></P>
<P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In accordance with rules of the U.S. Securities and Exchange Commission, we are using the Internet as our primary means of furnishing proxy materials to stockholders. Because we are using the Internet, most stockholders will not receive paper copies of our proxy materials. We will instead send these stockholders a Notice
  of Internet Availability of Proxy Materials with instructions for accessing the proxy materials, including our proxy statement and annual report, and voting via the Internet. The Notice of Internet Availability of Proxy Materials also provides information on how stockholders may obtain paper copies of our proxy materials if
  they so choose.</FONT></P>
<P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Important Notice Regarding the Availability of Proxy Materials for the Stockholder Meeting to be held on Wednesday, January 30, 2013 at 10:30 a.m. at 1095 Avenue of the Americas, New York, NY 10036. The Company&#146;s Proxy Statement, 2012 Annual Report on Form 10-K and Annual Report to Stockholders will be
  available online at </B><u style="border-bottom: 0.25pt black;;">http://www.amstock.com/ProxyServices/ViewMaterial.asp?CoNumber=03170</u><B>.</B></FONT></P>
<P style="margin:10.5mm 0 0 80.1mm; "><FONT style="font-family:serif; font-size:3.8mm; ">By Order of the Board of Directors</FONT></P>
<P style="margin:5.6mm 0 0 80.1mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Seth L. Kaplan<br>Senior Vice President, General Counsel<br>and Secretary</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>ABOUT THE MEETING</B></FONT></P>
<P style="margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Why did I receive these proxy materials?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Beginning on or shortly after December 18, 2012, this Proxy Statement is being mailed to stockholders who were stockholders as of the December 12, 2012 record date, as part of the Board of Directors&#146; solicitation of proxies for Griffon&#146;s Annual Meeting and any postponements or adjournments thereof. This Proxy
  Statement and Griffon&#146;s 2012 Annual Report to Stockholders and Annual Report on Form 10-K (which have been made available to stockholders eligible to vote at the Annual Meeting) contain information that the Board of Directors believes offers an informed view of Griffon Corporation (referred to as &#147;Griffon&#148;, the
  &#147;Company&#148;, &#147;we&#148; or &#147;us&#148;) and meets the regulations of the Securities and Exchange Commission (the &#147;SEC&#148;) for proxy solicitations. Our management prepared this proxy statement for the Board of Directors.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>What is the Notice of Internet Availability of Proxy Materials that I received in the mail instead of a full set of proxy materials?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Like last year, we are pleased to be using the SEC rule that allows companies to furnish their proxy materials over the Internet, instead of mailing printed copies of those materials to all stockholders. Consequently, most stockholders will not receive paper copies of our proxy materials. These stockholders will instead
  receive a &#147;Notice of Internet Availability of Proxy Materials&#148; with instructions for accessing our proxy materials, including our proxy statement and 2012 Annual Report, and voting via the Internet. The Notice of Internet Availability of Proxy Materials also contains instructions on how stockholders can obtain a paper copy of
  our proxy materials if they so choose. We believe this process will expedite stockholders&#146; receipt of proxy materials, lower the costs of our Annual Meeting and conserve natural resources. If you previously elected to receive our proxy materials electronically, these materials will continue to be sent via email unless you
  change your election. Stockholders who have elected to receive the proxy materials electronically will be receiving an email on or about December 18, 2012 with information on how to access stockholder information and instructions for voting.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>What is being considered at the meeting?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">You will be voting on the following matters:</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:3.17pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      1.</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      The election of four directors for a term of three years</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">2.</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">To conduct an advisory vote on executive compensation</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">3.</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The ratification of the selection by our Audit Committee of Grant Thornton LLP to serve as our independent registered public accounting firm for fiscal year 2013</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>

<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We do not expect you to vote on any other matters at the meeting.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Who is entitled to vote at the meeting?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">You are entitled to vote at the Annual Meeting if you owned stock as of the close of business on December 12, 2012. Each share of stock is entitled to one vote.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>How do I vote?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><u style="border-bottom: 0.25pt black;;">Voting by Proxy</u></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">For stockholders whose shares are registered in their own names, as an alternative to voting in person at the Annual Meeting, you may vote by proxy via the Internet, by telephone or, for those </FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">stockholders who receive a paper proxy card in the mail, by mailing a completed proxy card. For those stockholders who receive a Notice of Internet Availability of Proxy Materials, the Notice of Internet Availability of Proxy Materials provides information on how to access your proxy card, which contains instructions on
  how to vote via the Internet or by telephone. For those stockholders who receive a paper proxy card, instructions for voting via the Internet or by telephone are set forth on the proxy card; alternatively such stockholders who receive a paper proxy card may vote by mail by signing and returning the mailed proxy card in the
  prepaid and addressed envelope that is enclosed with the proxy materials. In each case, your shares will be voted at the Annual Meeting in the manner you direct.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">If your shares are registered in the name of a bank or brokerage firm (your record holder), you may also submit your voting instructions over the Internet or by telephone by following the instructions provided by your record holder in the Notice of Internet Availability of Proxy Materials. If you received printed
  copies of the proxy materials, you can submit voting instructions by telephone or mail by following the instructions provided by your record holder on the enclosed voting instructions card. Those who elect to vote by mail should complete and return the voting instructions card in the prepaid and addressed envelope provided.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><u style="border-bottom: 0.25pt black;;">Voting at the Meeting</u></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">If your shares are registered in your own name, you have the right to vote in person at the Annual Meeting by using the ballot provided at the Annual Meeting, or if you requested and received printed copies of the proxy materials by mail, you can complete, sign and date the proxy card enclosed with the proxy
  materials you received and submit it at the Annual Meeting. If you hold shares through a bank or brokerage firm and wish to be able to vote in person at the Annual Meeting, you must obtain a &#147;legal proxy&#148; from your brokerage firm, bank or other holder of record and present it to the inspector of elections with your ballot
  at the Annual Meeting. Even if you plan to attend the Annual Meeting, we recommend that you submit your proxy or voting instructions in advance of the meeting as described above so that your vote will be counted if you later decide not to attend the Annual Meeting. Submitting your proxy or voting instructions in
  advance of the meeting will not affect your right to vote in person should you decide to attend the Annual Meeting.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Can I change my mind after I return my proxy?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Yes, you may change your mind at any time before the vote is taken at the meeting. You may revoke or change a previously delivered proxy at any time before the Annual Meeting by delivering another proxy with a later date, by voting again via the Internet or by telephone, or by delivering written notice of
  revocation of your proxy to Griffon&#146;s Secretary at our principal executive offices before the beginning of the Annual Meeting. You may also revoke your proxy by attending the Annual Meeting and voting in person, although attendance at the Annual Meeting will not, in and of itself, revoke a valid proxy that was previously
  delivered. If you hold shares through a bank or brokerage firm, you must contact that bank or brokerage firm to revoke any prior voting instructions. You also may revoke any prior voting instructions by voting in person at the Annual Meeting if you obtain a legal proxy as described above.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>What if I return my proxy card but do not include voting instructions?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Proxies that are signed and returned but do not include voting instructions will be voted <B>FOR </B>the election of the nominee directors, <B>FOR </B>the approval, on an advisory basis, of the compensation of Griffon&#146;s named executive officers as presented in this Proxy Statement, and <B>FOR </B>the ratification of Grant Thornton
  LLP to serve as our independent registered public accounting firm and in the discretion of the </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">2</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">proxy holders as to any other matters that may properly come before the Annual Meeting or any postponement or adjournment of the Annual Meeting.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>What does it mean if I receive more than one notice or proxy card?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">It means that you have multiple accounts with brokers and/or our transfer agent. Please vote all of these shares. We recommend that you contact your broker and/or our transfer agent to consolidate as many accounts as possible under the same name and address. Our transfer agent is American Stock Transfer &amp; Trust
  Company, LLC (&#147;AST&#148;) and its telephone number is (212) 936-5100.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>I share an address with another stockholder, and we received only one paper copy of the proxy materials. How may I obtain an additional copy of the proxy materials?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We have adopted a procedure called &#147;householding,&#148; which the SEC has approved. Under this procedure, we are delivering a single copy of the Notice of Internet Availability of Proxy Materials and, if applicable, this Proxy Statement and our 2012 Annual Report, to multiple stockholders who share the same address
  unless we have received contrary instructions from one or more of the stockholders. This procedure reduces our printing costs, mailing costs and fees. Stockholders who participate in householding will continue to be able to access and receive separate proxy cards. Upon written or oral request, we will deliver promptly a
  separate copy of the Notice of Internet Availability of Proxy Materials and, if applicable, this Proxy Statement and our 2012 Annual Report to any stockholder at a shared address to which we delivered a single copy of any of these documents. To receive a separate copy of the Notice of Internet Availability of Proxy
  Materials and, if applicable, this Proxy Statement or our 2012 Annual Report, stockholders may write or call our transfer agent at the following address and telephone number:</FONT></P>
<P align="center" style="margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">American Stock Transfer and Trust Company<br>Proxy Fulfillment Services<br>6201 15th Avenue, Brooklyn, NY 11219<br>888-776-9962</FONT></P>
<P style="margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Stockholders who are the beneficial owner, but not the record holder, of shares of Griffon Stock may contact their brokerage firm, bank, broker-dealer or other similar organization to request information about householding.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Will my shares be voted if I do not provide my proxy?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">If you hold your shares directly in your own name, they will not be voted if you do not provide a proxy.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Your shares may be voted under certain circumstances if they are held in the name of a brokerage firm. Brokerage firms generally have the authority to vote customers&#146; unvoted shares on certain &#147;routine&#148; matters, including the ratification of accountants. At our meeting, these shares will be counted as voted by the
  brokerage firm in the ratification of accountants.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Brokers are prohibited from exercising discretionary authority on non-routine matters. Proposals one and two are considered non-routine matters, and therefore brokers cannot exercise discretionary authority regarding these proposals for beneficial owners who have not returned proxies to the brokers (so-called &#147;broker
  non-votes&#148;). In the case of broker non-votes, and in cases where you abstain from voting on a matter when present at the meeting and entitled to vote, those shares will still be counted for purposes of determining if a quorum is present.</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">3</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>How are shares in the Griffon Corporation Employee Stock Ownership Plan Voted?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">If you are a participant in the Griffon Corporation Employee Stock Ownership Plan (&#147;ESOP&#148;), you may vote the shares you own through the ESOP via the Internet, by telephone or, if you receive a paper proxy card in the mail, by mailing a completed proxy card. Shares owned by participants through the ESOP may
  NOT be voted in person at the Annual Meeting.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">AST will tabulate the votes of participants for the ESOP. The results of the votes received from the ESOP participants will serve as voting instructions to Wells Fargo Bank, N.A., the trustee of the ESOP. The trustee will vote the shares as instructed by the ESOP participants. If a participant does not provide voting
  instructions, the trustee will vote the shares allocated to the participant&#146;s ESOP account in the same manner and proportions as those votes cast by other participants submitting timely voting instructions. The trustee will also vote the unallocated shares in the ESOP in the same manner and proportions as those votes cast by
  participants submitting timely voting instructions. AST will keep how you vote your shares confidential.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>How many votes must be present to hold the meeting?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Your shares are counted as present at the meeting if you attend the meeting and vote in person, if you properly submit your proxy or if your shares are registered in the name of a bank or brokerage firm and you do not provide voting instructions and such bank or broker casts a broker non-vote on the ratification of
  accountants. In order for us to conduct our meeting, a majority of our outstanding shares of common stock as of December 12, 2012 must be present at the meeting. This is referred to as a quorum. On December 12, 2012, there were 61,214,347 shares of common stock outstanding and entitled to vote.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>What vote is required to elect directors?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Directors are elected by a plurality of the votes cast. Shares not voted on the election of directors will have no effect on the vote for election of directors.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>What vote is required to approve the advisory vote on executive compensation?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Approval of the advisory vote on executive compensation requires the favorable vote of a majority of the shares present in person or by proxy and entitled to vote on the matter at the Annual Meeting once a quorum is present. Because this vote is advisory, it will not be binding on the Board or the Company.
  However, the Board will review the voting results and take them into consideration when making future decisions regarding executive compensation.</FONT></P>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>What vote is required to ratify the selection by our Audit Committee of Grant Thornton LLP as our independent registered public accounting firm?</I></B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The affirmative vote of the holders of a majority of the shares present in person or by proxy and entitled to vote on the item will be required for approval. An abstention will be counted as a vote against this proposal.</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">4</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">

<PAGE>

<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>PROPOSAL 1 &#151; ELECTION OF DIRECTORS</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our certificate of incorporation provides for a Board of Directors consisting of not less than twelve nor more than fourteen directors, classified into three classes as nearly equal in number as possible, with no class containing less than four directors, whose terms of office expire in successive years. Our Board of
  Directors now consists of twelve directors as set forth below.</FONT></P>
<table cellspacing="0" style="margin-left:6.58%;margin-right:6.58%;width:86.84%;" >
<TR valign="top">
    <TD style="width:27.19%;" align="center"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:27.19%;" align="center"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:27.19%;" align="center"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Class&nbsp;III<br>(To Serve Until the<br>Annual Meeting of<br>Stockholders in 2013)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Class&nbsp;I<br>(To Serve Until the<br>Annual Meeting of<br>Stockholders in 2014)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Class&nbsp;II<br>(To Serve Until the<br>Annual Meeting of<br>Stockholders in 2015)</B></FONT></P></TD>
  </TR>


  <TR valign="top">
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Henry A. Alpert(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Bertrand M. Bell(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Harvey R. Blau(4)</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Blaine V. Fogg(3)(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Rear Admiral Robert G.</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Gerald J. Cardinale(4)</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      William H. Waldorf(1)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Harrison (USN Ret.)(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Bradley J. Gross(4)</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Joseph J. Whalen(1)(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Ronald J. Kramer(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      General Donald J. Kutyna</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD align="center"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Martin S. Sussman(1)(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      (USAF Ret.)</FONT></P></TD>
  </TR>
</TABLE>

<P style="text-indent:13.4mm; margin:7.7mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><hr noshade="noshade" color="k" align="left" style="width:8.50pc; height:0.50pt;;"></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 -8.7mm; "><FONT style="font-family:serif; font-size:3.8mm; ">&nbsp;</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Member of Audit Committee.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Member of Compensation Committee.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Member of Nominating and Corporate Governance Committee.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Member of Finance Committee.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Henry A. Alpert, Blaine V. Fogg, William H. Waldorf and Joseph J. Whalen, directors in Class&nbsp;III, are nominated for election at this Annual Meeting of stockholders to hold office until the annual meeting of stockholders in 2016, or until their successors are chosen and qualified.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Unless you indicate otherwise, shares represented by executed proxies in the form enclosed will be voted for the election as directors of each nominee (each of whom is now a director) unless any such nominee shall be unavailable, in which case such shares will be voted for a substitute nominee designated by the
  Board of Directors. We have no reason to believe that any of the nominees will be unavailable or, if elected, will decline to serve.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Agreement with Investors</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">On September 29, 2008, GS Direct, L.L.C. (&#147;GS Direct&#148;), an affiliate of Goldman, Sachs &amp; Co. (&#147;Goldman Sachs&#148;), acquired 10,000,000 shares of Griffon common stock in connection with a common stock rights offering by Griffon. GS Direct acquired these shares pursuant to an agreement entered into on August 7,
  2008 with Griffon (the &#147;Investment Agreement&#148;) in which GS Direct made certain commitments to purchase Griffon common stock in connection with the rights offering. As of November 30, 2012, these shares represented approximately 16.5% of Griffon&#146;s outstanding common stock.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Investment Agreement provides that, based on GS Direct&#146;s current ownership of Griffon&#146;s common stock, GS Direct has the right to nominate two people to serve on Griffon&#146;s Board of Directors (each subject to the reasonable review and approval of our Nominating and Corporate Governance Committee).
  Accordingly, Messrs. Gerald J. Cardinale and Bradley J. Gross have served on Griffon&#146;s Board of Directors since September 2008 as designees of GS Direct. It is our understanding that Mr. Cardinale is retiring from Goldman Sachs effective December 31, 2012. If GS Direct&#146;s ownership level drops below 15%, but remains
  over 10%, of our outstanding common stock, then GS Direct will have the right to </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">5</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">nominate one person to serve on Griffon&#146;s board of directors. At such time as GS Direct&#146;s ownership level drops below 10% of our outstanding common stock, GS Direct will no longer have the right to nominate any persons to serve on our Board. See &#147;Certain Relationships and Related Person Transactions&#148; for a more
  complete description of the terms of the Investment Agreement and a description of other relationships and transactions between Griffon and GS Direct.</FONT></P>
<P style="margin:4.9mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Board Composition</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We believe that each of our directors should demonstrate, by significant accomplishment in his or her field, an ability to make a meaningful contribution to the Board&#146;s supervision and oversight of the business and affairs of Griffon. We consider the following when selecting candidates for recommendation to our
  Board: character and business judgment; broad business knowledge; leadership, financial and industry-specific experience and expertise; technology and education experience; professional relationships; diversity; personal and professional integrity; time availability in light of other commitments; dedication; and such other factors
  that we consider appropriate, from time to time, in the context of the needs or stated requirements of the Board. The directors&#146; experiences, qualifications and skills that the Board considered in their re-nomination are included in their individual biographies.</FONT></P>
<P style="margin:4.9mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Nominee Biographies</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Mr. Henry A. Alpert </I></B>(age 65) has been a director since 1995. Mr. Alpert has been President of Spartan Petroleum Corp., a real estate investment firm and a distributor of petroleum products, for more than the past five years. Mr. Alpert is also a director of Boyar Value Fund, a mutual fund (NASDAQ:BOYAX). Mr.
  Alpert brings to the Board an understanding of the perspectives of public mutual fund stockholders, experience in operations and, by virtue of being on the advisory committee of the largest commercial bank headquartered on Long Island, insight into commercial banking trends.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Mr. Blaine V. Fogg</I> </B>(age 72) has been a director since May 2005. Mr. Fogg is a corporate and securities lawyer concentrating in mergers and acquisitions and other business transactions. From 1972 to 2004, Mr. Fogg was a partner at the law firm of Skadden, Arps, Slate, Meagher &amp; Flom LLP. Since 2004, Mr. Fogg
  has been Of Counsel to such law firm. Since July 1, 2009, Mr. Fogg has been President of The Legal Aid Society of New York. In September 2010, he was elected a Director of Seacor Holdings Inc. (NYSE:CKH), which owns, operates, invests in and markets equipment, primarily in the offshore oil and gas, industrial
  aviation and marine transportation industries. Mr. Fogg has represented numerous public and private companies in connection with governance matters as well as transactions and brings to the Board broad experience in assisting boards of public and private companies in these matters.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Mr. William H. Waldorf </I></B>(age 74) has been a director since 1963. He has been President of Landmark Capital, LLC, an investment firm, for more than the past five years. Mr. Waldorf&#146;s extensive financial and investment experience as an active entrepreneur and President of an investment company for over thirty
  years brings to the Board the analytical framework of a long-term investor.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Mr. Joseph J. Whalen </I></B>(age 81) has been a director since 1999. Mr. Whalen is a CPA and was a partner at Arthur Andersen LLP for more than five years prior to his retirement in 1994. Mr. Whalen has extensive financial and accounting experience as a partner of a former international accounting firm for over
  twenty years. As the Company&#146;s Audit Committee Financial Expert, Mr. Whalen brings to the Board and the Audit Committee an in-depth understanding of the financial reporting, auditing and accounting issues that come before the Board and the Audit Committee.</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">6</FONT></P>
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<p style="page-break-before: always">
<PAGE>
<P style="margin:2.8mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Standing Director Biographies</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Dr. Bertrand M. Bell </I></B>(age 83) has been a director since 1976. Dr. Bell has been Professor of Medicine at Yeshiva University Albert Einstein College of Medicine for more than the past five years and was appointed Distinguished Professor in September 1992. Dr. Bell has been a professor of medicine for over 30
  years. Dr. Bell led the Bell Commission, whose report significantly changed the way physicians are trained and supervised in the State of New York. Dr. Bell was director of ambulatory medical services and the emergency department at a major New York City public hospital for almost twenty-five years. Dr. Bell brings to
  the Board management experience with large nonprofit institutions and experience with professional training and development, as well as familiarity with the medical products industry that is serviced by our Clopay Plastics business.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Mr. Harvey R. Blau </I></B>(age 77) has been Chairman of the Board since 1983 and was our Chief Executive Officer from 1983 through March 2008. Mr. Blau was Chairman of the Board and Chief Executive Officer of Aeroflex Incorporated (NYSE:ARX), a diversified manufacturer of electronic components and test
  equipment, for more than five years through August 2007 when such company was acquired. Because of his long service with the Company, including as the Company&#146;s Chief Executive Officer for over twenty-five years, Mr. Blau brings to the Board a depth of knowledge of the Company, its history and its personnel. Mr.
  Blau&#146;s legal training also assists the Board in evaluating issues that come before it. Mr. Blau is the father-in-law of Ronald J. Kramer, Griffon&#146;s Chief Executive Officer.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Mr. Gerald J. Cardinale </I></B>(age 45) has been a director since September 2008. Since 2002, Mr. Cardinale has been a Managing Director of the Principal Investment Area of Goldman Sachs, a leading global investment banking, securities and investment management firm. Mr. Cardinale also serves on the boards of
  directors of Alliance Films Holdings Inc., Cequel Communications, LLC, Sensus Metering Systems, Inc., and Yankees Entertainment &amp; Sports Network, LLC. Mr. Cardinale was formerly a director of Cooper-Standard Automotive Inc., CW Media Holdings, Inc., Guthy-Renker Holdings, LLC and Legends Hospitality Holding
  Company, LLC. Mr. Cardinale is a designee of GS Direct, an affiliate of Goldman Sachs; it is our understanding that Mr. Cardinale is retiring from Goldman Sachs effective December 31, 2012. His service on a variety of corporate boards and his experience in evaluating different potential investments and acquisitions and in
  related financings allow him to assist the Board in assessing financing and acquisition activities from a financial point of view.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Mr. Bradley J. Gross </I></B>(age 40) has been a director since September 2008. Mr. Gross is a Managing Director in the Principal Investment Area of Goldman Sachs, a position he has held since 2007. From 2003 to 2007, he was a vice president at Goldman Sachs. Mr. Gross also serves on the board of directors of
  Aeroflex, Inc. (NYSE:ARX), a leading worldwide provider of highly specialized test and measurement equipment and microelectronic solutions, Cequel Communications LLC, a provider of cable television services in certain U.S. territories serving 1.3 million basic subscribers, Americold Realty Trust, the largest provider of
  temperature controlled storage and logistics in the United States, Interline Brands, Inc., a leading distributor of maintenance, repair and operations products, and various other private companies in which Goldman Sachs is an investor. Mr. Gross formerly served on the Board of Capmark Financial Group Inc., a diversified
  holding company that provides financial services to investors in commercial real estate-related assets. Mr. Gross is a designee of GS Direct, an affiliate of Goldman Sachs. His service on a variety of corporate boards and his experience in evaluating different potential investments and acquisitions and in related financings allow
  him to assist the Board in assessing financing and acquisition activities from a financial point of view.</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">7</FONT></P>
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<p style="page-break-before: always">
<PAGE>
<P style="text-indent:13.4mm; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Rear Admiral Robert G. Harrison </I></B><I>(USN Ret.) </I>(age 76) has been a director since February 2004. He was an officer in the United States Navy for more than thirty-five years prior to his retirement in 1994. Since retirement, Rear Admiral Harrison has been a consultant for various defense systems companies in the
  areas of acquisition, support and program management. Rear Admiral Harrison is also a director for Indra Systems, a company engaged in the manufacture and support of training and simulation systems and automatic test equipment. By virtue of his services as a senior officer in the U.S. Navy and his service as a director of
  and consultant to other companies, Rear Admiral Harrison brings to the Board extensive experience in the management of large organizations and the approaches and perspectives involved in military procurement.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Mr. Ronald J. Kramer </I></B>(age 54) has been our Chief Executive Officer since April 2008, a director since 1993, Vice Chairman of the Board since November 2003, and was our President from February 2009 to December 2012. From 2002 through March 2008, he was President and a director of Wynn Resorts, Ltd., a
  developer, owner and operator of destination casino resorts. From 1999 to 2001, Mr. Kramer was a Managing Director at Dresdner Kleinwort Wasserstein, an investment banking firm, and its predecessor Wasserstein Perella &amp; Co. He is a member of the Board of Directors of Leap Wireless International, Inc. (NASDAQ:LEAP),
  a wireless communications company. Mr. Kramer was formerly on the boards of directors of Monster Worldwide, Inc. (NYSE:MWW) and Sapphire Industrials Corporation (AMEX:FYR). Mr. Kramer has been a senior executive officer of a number of corporations, including currently Griffon, and brings to the Board extensive
  experience in all aspects of finance and business transactions. Mr. Kramer is the son-in-law of Harvey R. Blau, Griffon&#146;s Chairman of the Board.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>General Donald J. Kutyna </I></B>(USAF Ret.) (age 79) has been a director since August 2005. He was an officer in the United States Air Force for over thirty-five years prior to his retirement in 1992. General Kutyna had been commander in chief of the North American Aerospace Defense Command, commander in chief
  of the U.S. Space Command and commander of the U.S. Air Force Space Command. During his tenure in the U.S. Air Force, General Kutyna served as Chairperson of the Accident Analysis Panel of the Presidential Commission on the Space Shuttle Challenger Accident. General Kutyna was Vice President, Space
  Technology, of Loral Space &amp; Communications Ltd. (NASDAQ:LORL), a leading satellite communications company, from 1993 to 1996, and again from 1999 to 2004. He also served as Vice President, Advanced Space Systems, for Lockheed Martin Corporation (NYSE:LMT), a company principally engaged in the research,
  design, development, manufacture and integration of advanced technology systems, products and services, from 1996 to 1999. From September 2004 through 2008, General Kutyna served as a part-time consultant to Loral Space &amp; Communications Ltd. As a Four Star Air Force officer with thirty five years experience in the
  development, acquisition and operation of high technology space, electronic, communication, and aeronautical defense systems, General Kutyna brings to the Board important perspectives in connection with the Company&#146;s defense business. General Kutyna&#146;s experience as a technology leader of a Presidential Commission and
  as a corporate officer in the defense industry makes him a valuable resource to the Board in the area of government policy and procurement.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><I>Mr. Martin S. Sussman </I></B>(age 75) has been a director since 1989. He has been a practicing attorney in the State of New York since 1961, and has been a member of the law firm of Seltzer, Sussman, Habermann &amp; Heitner, LLP for more than the past five years. As a practicing attorney for almost fifty years, Mr.
  Sussman brings to the Board broad experience and insight in various aspects of business law applicable to the Company.</FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>OUR BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE FOR<br>ELECTION OF EACH OF THE NOMINEES FOR DIRECTOR</B></FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">8</FONT></P>
<p><hr color=#000000 noshade></p>
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<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>CORPORATE GOVERNANCE</B></FONT></P>
<P style="margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Director Independence</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Board of Directors has determined that each of Messrs. Alpert, Bell, Cardinale, Gross, Fogg, Harrison, Kutyna, Sussman, Waldorf and Whalen are independent under New York Stock Exchange Rule 303A. The Board of Directors affirmatively determined that no director (other than Ronald J. Kramer and Harvey
  R. Blau) has a material relationship with the Company, either directly or as a partner, stockholder or officer of an organization that has a relationship with the Company.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In making this determination, the Board considered all relevant facts and circumstances. In particular, with respect to Messrs. Cardinale and Gross, the Board considered, among other things, that these directors hold senior management positions with GS Direct, and considered the relationships and transactions between
  Griffon and GS Direct, which are described above under &#147;Election of Directors&#151;Agreement with Investors&#148; and below under &#147;Certain Relationships and Related Person Transactions.&#148; In concluding that these relationships and transactions do not result in a &#147;material relationship&#148; between Griffon and Goldman Sachs that would
  impede the exercise of independent judgment by Messrs. Cardinale and Gross, the Board considered, among other things, that GS Direct&#146;s rights and obligations arise directly as a result of its Griffon stock ownership (as disclosed in more detail below under &#147;Certain Relationships and Related Person Transactions&#148;), and that
  the fees and expenses paid to affiliates of GS Direct in connection with certain services performed by these affiliates in the last three years, were not material to Goldman Sachs or to Griffon. With respect to Mr. Fogg, the Board considered that Griffon retained the law firm Skadden, Arps, Slate, Meagher and Flom, of which
  Mr. Fogg is Of Counsel, from time to time to perform legal services in recent years. The Board determined that the amounts paid to Skadden Arps in the last three years were not material to either Skadden Arps or Griffon, and therefore that our relationship with Skadden Arps was not a material relationship that would
  impede the exercise of independent judgment by Mr. Fogg.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We currently have the following standing committees: the Audit Committee, the Compensation Committee, the Finance Committee and the Nominating and Corporate Governance Committee. Other than the Finance Committee, all of the standing committees of the Board of Directors are composed entirely of
  independent directors.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Committee Membership, Meetings and Attendance</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">During the fiscal year ended September 30, 2012, there were:</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:3.17pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      four meetings of the Board of Directors;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">four meetings of the Audit Committee;</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">eight meetings of the Compensation Committee; and</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">two meetings of the Nominating and Corporate Governance Committee.</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our Finance Committee did not meet during fiscal 2012. Each of our directors attended or participated in at least 75% of the meetings of the Board of Directors and the respective committees of which he is a member held during our fiscal year ended September 30, 2012.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We encourage all of our directors to attend our annual meetings of stockholders. All of our current directors attended last year&#146;s annual meeting of stockholders.</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">9</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Board Committees</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We have a separately designated standing Audit Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934 (the &#147;Exchange Act&#148;). Our Audit Committee is involved in discussions with management and our independent registered public accounting firm with respect to
  financial reporting and our internal accounting controls. The Audit Committee has the sole authority and responsibility to select, evaluate and replace our independent registered public accounting firm. The Audit Committee must pre-approve all audit engagement fees and terms and all non-audit engagements with the
  independent registered public accounting firm. The Audit Committee is responsible for monitoring compliance with our Code of Business Conduct and Ethics. The Audit Committee consults with management but does not delegate these responsibilities. A copy of the Audit Committee charter can be found on our website at <u style="border-bottom:
  0.50pt black;;">www.griffoncorp.com</u>.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Board has determined that Joseph J. Whalen, a member of the Audit Committee since 1999, qualifies as an &#147;Audit Committee Financial Expert&#148;, as defined by SEC rules, based on his education, experience and background.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our Compensation Committee awards restricted stock and other equity-based awards to officers and employees. The Compensation Committee has overall responsibility for determining and approving the compensation of our Chief Executive Officer and reviewing and approving the annual base salaries and annual
  incentive opportunities of our executive officers, as well as the Presidents of each of our segments and business units. The Compensation Committee may form and delegate authority to subcommittees as it deems appropriate. The Compensation Committee considers recommendations from our executive officers with respect to
  executive compensation matters. From time to time, the Company utilizes the services of independent consultants to perform analyses and to make recommendations relative to executive compensation matters. These analyses and recommendations are conveyed to the Compensation Committee, and the Compensation Committee
  takes such information into consideration in making its compensation decisions. A copy of the Compensation Committee charter can be found on our website at <u style="border-bottom: 0.50pt black;;">www.griffoncorp.com</u>.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Finance Committee is responsible for the review of certain proposed acquisition, disposition and equity capital markets transactions, following which it shall make a non-binding recommendation to the full Board of Directors. Under the terms of the Investment Agreement, GS Direct is entitled to designate two of
  the five members of the finance committee so long as it holds 15% or more of Griffon&#146;s total common equity. In accordance with such arrangements, Messrs. Cardinale and Gross have served as members of the Finance Committee as designees of GS Direct since September 2008; it is our understanding that Mr. Cardinale is
  retiring from Goldman Sachs effective December 31, 2012. A copy of the Finance Committee Charter can be found on our website at <u style="border-bottom: 0.50pt black;;">www.griffoncorp.com</u>. See &#147;Certain Relationships and Related Person Transactions&#148; for a more complete description of the terms of the Investment Agreement.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Nominating and Corporate Governance Committee is responsible for (1) reviewing suggestions of candidates for director made by directors and others; (2) identifying individuals qualified to become Board members, and recommending to the Board the director nominees for the next annual meeting of
  stockholders; (3) recommending to the Board director nominees for each committee of the Board; (4) recommending to the Board the corporate governance principles applicable to the Company; and (5) overseeing the annual evaluation of the Board and management. There is no difference in the manner in which a nominee is
  evaluated based on whether the nominee is recommended by a stockholder or otherwise. The Nominating and Corporate Governance Committee has nominated the directors to be elected </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">10</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">at this meeting. A copy of the Nominating and Corporate Governance Committee charter can be found on our website at <u style="border-bottom: 0.50pt black;;">www.griffoncorp.com</u>.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Nominating and Corporate Governance Committee does not have a formal policy with regard to consideration of diversity in identifying director nominees. Our corporate governance guidelines specify that our Board should be of a sufficient size to provide for sufficient diversity among non-employee directors.
  The Nominating and Corporate Governance Committee may consider diversity, which could include diversity with respect to experience, skill set, age, areas of expertise and professional background, as well as race, gender and national origins, along with many other criteria, in selecting director nominees.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Risk Oversight</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Management is responsible for the day-to-day management of risks for Griffon and its subsidiaries, while our Board of Directors, as a whole and through its committees, is responsible for the oversight of risk management. The Board sets our overall risk management strategy and our risk appetite and ensures the
  implementation of our risk management framework. Specific board committees are responsible for overseeing specific types of risk. Our Audit Committee periodically discusses risks as they relate to its review of the Company&#146;s financial statements, the evaluation of the effectiveness of internal control over financial reporting,
  compliance with legal and regulatory requirements including the Sarbanes-Oxley Act, performance of the internal audit function, and review of related party transactions, among other responsibilities set forth in the Audit Committee&#146;s charter. The Audit Committee also periodically reviews our currency exchange and hedging
  policies, tax exposures and our internal processes to ensure compliance with applicable laws and regulations. Our Audit Committee oversees the response of management to reports regarding suspected violations of our Code of Conduct. The Audit Committee meets regularly in executive sessions with our director of internal
  audit and our independent registered public accounting firm, without management present, to discuss if there are areas of concern of which the Committee or the Board should be aware. The Board, and at certain times, the Finance Committee, monitors risks as they may be related to financing matters such as acquisitions and
  dispositions, our capital structure, credit facilities, equity and debt issuances, and liquidity. Our Compensation Committee establishes our compensation policies and programs in such a manner that our executives are not incentivized to take on an inappropriate level of risk. Each of our board committees delivers periodic
  reports to the Board, in order to keep the Board informed about what transpires at committee meetings. In addition, if a particular risk is material or where otherwise appropriate, the full Board may assume oversight over such risk, even if the risk was initially overseen by a committee.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Board Leadership Structure; Executive Sessions</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Although we do not require separation of the offices of the Chairman of the Board and Chief Executive Officer, we currently have a different person serving in each such role&#151;Mr. Harvey R. Blau is our Chairman, and Mr. Ronald J. Kramer is our Chief Executive Officer. The decision whether to combine or separate
  these positions depends on what our Board of Directors deems to be in the long-term interest of stockholders in light of prevailing circumstances. Our Board of Directors believes the Company is well-served by this flexible leadership structure and that the combination or separation of these positions should continue to be
  considered on an ongoing basis. As noted earlier, each of our other ten directors are independent. We also have a lead independent director. Mr. Martin S. Sussman has been selected as the lead independent director through January 2013. We believe that a lead independent director helps ensure </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">11</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">independent oversight over the Company. The lead independent director&#146;s duties and responsibilities include, among others:</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:3.17pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Presiding at meetings of the Board in which the Chairman is not present, including executive sessions of the independent directors</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Serving as a liaison between the Chairman and the independent directors</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Together with the Chairman, establishing the agenda for meetings of the Board</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Overseeing the flow of information to the Board, and coordinating with the independent directors to ensure that they have access to information they request from time to time</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Overseeing the board and committee annual self-evaluation process</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Collaboration with the nominating and corporate governance committee in monitoring the composition and structure of the board</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Interested Party Communications</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Mail from stockholders and other interested parties can be addressed to Directors in care of the Office of the Secretary, Griffon Corporation, 712 Fifth Avenue, New York, New York 10019. At the direction of the Board of Directors, all mail received will be opened and screened for security purposes. The mail will
  then be logged in. All mail, other than trivial or obscene items, will be forwarded. Mail addressed to a particular Director will be forwarded or delivered to that Director. Mail addressed to &#147;Outside Directors,&#148; &#147;Independent Directors,&#148; &#147;Non-Employee Directors&#148; or &#147;Non-Management Directors&#148; will be forwarded or delivered
  to each such director. Mail addressed to the &#147;Board of Directors&#148; will be forwarded or delivered to the Chairman of the Board.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Guidelines for Business Conduct and Governance Guidelines</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our Board of Directors has adopted a Code of Ethics for the Chairman and Chief Executive Officer and senior financial officers of Griffon Corporation. Our Board of Directors has also adopted a Code of Business Conduct and Ethics applicable to all employees in performing their duties. The Code of Business
  Conduct and Ethics sets forth information and procedures for employees to report ethical or accounting concerns, misconduct or violations of the Code in a confidential manner. The Code of Ethics and Code of Business Conduct and Ethics may be found on our website at <u style="border-bottom: 0.50pt black;;">www.griffoncorp.com</u>.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our Board of Directors has also adopted Corporate Governance Guidelines as required by the New York Stock Exchange rules to assist the Board in exercising its responsibilities to Griffon and its stockholders. The Corporate Governance Guidelines may be found on our website at <u style="border-bottom: 0.50pt black;;">www.griffoncorp.com</u>.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Board Self-Evaluation</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Board is required to conduct an annual self-evaluation that is overseen by our Nominating and Corporate Governance Committee to determine whether the Board and its committees are functioning effectively. In addition, each of the Audit, Compensation, and Nominating and Corporate Governance committees is
  required to conduct an annual self-evaluation and all committees of the Board are required to review and reassess the adequacy of their charters. The Audit Committee is subject to an annual performance evaluation by the Board of Directors.</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">12</FONT></P>
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<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Directors&#146; Nominations</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Any stockholder who wants to nominate a candidate for election to the Board must deliver timely notice to our Secretary at our principal executive offices. In order to be timely, the notice must be delivered</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:4.67pc;font-size:0.2mm;">
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    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      in the case of an annual meeting, not less than 90 days nor more than 120 days prior to the anniversary date of the immediately preceding annual meeting of stockholders, although if the annual meeting is called for a date that is not within 25 days before or after the anniversary date of the prior
      year&#146;s annual meeting, the notice must be received not later than the close of business on the 10th day following the first to occur of the day on which notice of the date of the annual meeting was mailed or such public disclosure of the date of the annual meeting was made; and</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">in the case of a special meeting of stockholders called for the purpose of electing directors, not later than the close of business on the 10th day following the first to occur of the day on which notice of the date of the special meeting was mailed or public disclosure of the date of the special meeting
      was made.</FONT></P>
    <P style="text-indent:19.7mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The stockholder&#146;s notice to the Secretary must set forth</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:4.67pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      as to each person whom the stockholder proposes to nominate for election as a director</FONT>
    <P style="text-indent:19.7mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:6.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:55pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      his name, age, business address and residence address</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:55pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#151;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">his principal occupation and employment</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:55pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#151;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the class and series and number of shares of each class and series of capital stock of Griffon which are owned beneficially or of record by him, and</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:55pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#151;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">any other information relating to the nominee that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors pursuant to Section 14 of the Exchange Act, and the rules and regulations promulgated
      thereunder</FONT></P>
    <P style="text-indent:25.3mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:4.67pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      as to the stockholder giving the notice</FONT>
    <P style="text-indent:19.7mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:6.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:55pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      his name and record address</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:55pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#151;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the class and series and number of shares of each class and series of capital stock of the Company which are owned beneficially or of record by him</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:55pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#151;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">a description of all arrangements or understandings between the stockholder and each proposed nominee and any other person or persons (including their names) pursuant to which the nomination(s) are to be made by the stockholder</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:55pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#151;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">a representation by him that he is a holder of record of stock of the Company entitled to vote at such meeting and that he intends to appear in person or by proxy at the meeting to nominate the person or persons named in his notice, and</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:55pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#151;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">any other information relating to the stockholder that would be required to be disclosed in a proxy statement or other filings required to be made in connection with solicitations of proxies for election of directors pursuant to Section 14 of the Exchange Act and the rules and regulations promulgated
      thereunder.</FONT></P>
    <P style="text-indent:25.3mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">13</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P style="text-indent:13.4mm; "><FONT style="font-family:serif; font-size:3.8mm; ">The notice delivered by a stockholder must be accompanied by a written consent of each proposed nominee to being named as a nominee and to serve as a director if elected. The stockholder must be a stockholder of record on the date on which he gives the notice described above and on the record date for the
  determination of stockholders entitled to vote at the meeting.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Compensation Committee Interlocks and Insider Participation</B></FONT></P>
<P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The members of our Compensation Committee are Henry A. Alpert, Dr. Bertrand M. Bell and Rear Admiral Robert G. Harrison (USN Ret.). None of these persons were our officers or employees during fiscal year 2012 or has ever been an officer of the Company. None of our executive officers serves on the board of
  directors or compensation committee of a company that has an executive officer that serves on our board of directors or Compensation Committee.</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">14</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>STOCK OWNERSHIP</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The following information, including stock ownership, is submitted with respect to our directors, each executive officer named in the &#147;Summary Compensation Table,&#148; for all executive officers and directors as a group, and for each holder known to us to be the beneficial owner of more than five percent of our issued
  and outstanding common stock as of November 30, 2012.</FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:72.36%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:14.72%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.66%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Name of Beneficial Owner</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Common Stock<br>Beneficially<br>Owned(1)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Percent<br>of Class</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">The Goldman Sachs Group, Inc. and affiliates(2)(3)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      10,013,754</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      16.5</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Gabelli Funds, LLC(4)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      9,527,308</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      15.4</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Blackrock, Inc. and affiliates(5)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      3,635,319</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      6.0</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Dimensional Fund Advisors(6)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      4,287,973</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      7.1</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">NWQ Investment Management Company, LLC(7)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      3,801,376</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      6.3</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Patrick L. Alesia(8)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      228,610</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Henry A. Alpert(9)(10)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      52,466</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Bertrand M. Bell(9) (11)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      26,597</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Harvey R. Blau(8)(9)(12)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      2,196,959</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      3.6</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Gerald J. Cardinale(3)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      10,013,754</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      16.5</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Blaine V. Fogg(9)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      28,347</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Bradley J. Gross(3)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      10,013,754</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      16.5</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Rear Admiral Robert G. Harrison (Ret.)(9)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      10,354</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Seth L. Kaplan(8)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      105,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Ronald J. Kramer(8)(9)(13)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      3,038,430</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      5.0</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">General Donald J. Kutyna (Ret.)(9)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      8,619</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Martin S. Sussman(9)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      36,482</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">William H. Waldorf(9)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      26,947</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Douglas J. Wetmore(8)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      375,096</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Joseph J. Whalen(9)(14)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      26,623</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Directors and executive officers as a group (16 persons)(15)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      16,174,284</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      26.5</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
       %</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
</TABLE>


<P style="text-indent:13.4mm; margin:7.7mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><hr noshade="noshade" color="k" align="left" style="width:8.50pc; height:0.50pt;;"></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 -8.7mm; "><FONT style="font-family:serif; font-size:3.8mm; ">&nbsp;</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      *</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Less than 1%.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(1)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Unless otherwise indicated and except as otherwise set forth in the Schedules 13D and 13G referred to in the footnotes below, ownership represents sole voting and investment power.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The address for The Goldman Sachs Group, Inc. and its affiliates is 200 West Street, New York, NY 10004.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Messrs. Cardinale and Gross are managing directors of Goldman Sachs. Goldman Sachs is a wholly-owned subsidiary of The Goldman Sachs Group, Inc. (&#147;GS Group&#148;). GS Group and Goldman Sachs may be deemed to beneficially own indirectly, in the aggregate, 10,000,000 shares of our common stock owned
      directly by GS Direct. GS Direct is a wholly-owned subsidiary of GS Group. Goldman Sachs is the manager of GS Direct. GS Group, Goldman Sachs, GS Direct and Messrs. Cardinale and Gross each disclaim beneficial ownership of these securities except to the extent of its or his pecuniary interest therein, if
      any. The number of shares listed herein includes 6,877 shares of common stock awarded to each of Messrs. Cardinale </FONT></P></TD>
  </TR>
</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">15</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">


  <TR valign="bottom">
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17" valign="top"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      and Gross in their capacity as directors pursuant to our director compensation program. It is our understanding that Mr. Cardinale is retiring from Goldman Sachs effective December 31, 2012.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The address for Gabelli Funds, LLC and its affiliates is One Corporate Center, Rye, New York 10580-143. The number of shares beneficially owned is based on a Schedule 13D filed with the SEC by Gabelli Funds, LLC and certain of its affiliates on November 21, 2012.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(5)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The address for Blackrock, Inc. is 40 East 52nd Street, New York, NY 10022. The number of shares beneficially owned is based on a Schedule 13G filed with the SEC by Blackrock, Inc. and certain of its affiliates on February 13, 2012.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(6)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The address for Dimensional Fund Advisors is Palisades West, Building One, 6300 Bee Cave Road, Austin, Texas 78746. The number of shares beneficially owned is based on a Schedule 13G filed with the SEC by Dimensional Fund Advisors LP and certain of its affiliates on February 14, 2012.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(7)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The address for NWQ Investment Management Company, LLC is 2049 Century Park East, 16th Floor, Los Angeles, CA 90067. The number of shares beneficially owned is based on a Schedule 13G filed with the SEC by NWQ Investment Management Company, LLC and certain of its affiliates on February
      14, 2012.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(8)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Includes for Messrs. Blau, Kramer and Alesia 100,000 shares of common stock, 350,000 shares of common stock and 80,000 shares of common stock, respectively, issuable with respect to options currently exercisable and options which become exercisable within 60 days under our stock option plans. Also
      includes (i) for Messrs. Blau, Kramer, Wetmore and Alesia 25,176 shares, 307 shares, 96 shares and 11,294 shares of common stock, respectively, allocated to their accounts under the ESOP as to which they can direct the vote, and (ii) for Messrs. Blau, Kramer, Wetmore, Alesia and Kaplan, 64,439 shares,
      1,575,000 shares, 365,000 shares, 65,000 shares and 100,000 shares of restricted stock, respectively, as to which they can direct the vote.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(9)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Includes shares of common stock granted pursuant to our director compensation program.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(10)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Includes 36,400 shares of common stock owned by the Spartan Petroleum Profit Sharing Trust of which Mr. Alpert is a co-trustee and a beneficiary.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(11)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Includes 16,192 shares of common stock owned by Mr. Bell&#146;s spouse.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(12)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Includes 822,253 shares of common stock owned by Mr. Blau&#146;s spouse. Mr. Blau disclaims beneficial interest of such shares of common stock.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(13)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Includes 40,298 shares of common stock owned by Mr. Kramer&#146;s wife and children. Mr. Kramer disclaims beneficial ownership of such shares of common stock which are in excess of his pecuniary interest.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(14)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Includes 12,957 shares held in a margin loan account, and therefore that may be pledged as security from time to time.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">(15)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Includes 530,000 shares of common stock issuable with respect to options currently exercisable and options which become exercisable within 60 days granted to executive officers and directors under our stock option plans.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">16</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">

<PAGE>

<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>EXECUTIVE COMPENSATION</B></FONT></P>
<P style="margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>COMPENSATION DISCUSSION AND ANALYSIS</B></FONT></P>
<P style="margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Compensation Philosophy and Objectives of Our Compensation Program</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our compensation programs are intended to enable us to attract, motivate, reward and retain the management talent required to achieve operational and corporate objectives, and thereby contribute to the success of the Company with the goal and intention of increasing stockholder value. It is our policy to provide
  incentives to senior management to achieve both short-term and long-term objectives and to reward exceptional performance and contributions to the management of our businesses and the execution of the short-term and long-term strategic and financial objectives set by the Company&#146;s Board of Directors. Our executive
  compensation program includes four key components:</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:3.17pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      competitive base salary</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">short-term cash incentive bonuses based upon objective and subjective company and individual performance</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">equity-based long-term incentive compensation, and</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">retirement, health and welfare benefits, and limited perquisites.</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We believe that the compensation of our executives should reflect the executives&#146; level of job responsibility and be related to individual and company performance. Because the performance of our executives greatly impacts our results, a significant portion of their compensation should be variable and based on
  individual and corporate performance. Our approach to compensation relates, in large part, to the fact that our Company is a diversified holding company. As such, our senior corporate management&#146;s responsibilities include both managing and assessing the operational results at our principal subsidiaries and businesses, and
  overseeing the following financial activities, among others:</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:3.17pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      the maintenance of our strong consolidated balance sheet</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the allocation of our capital and resources</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the assessment and determination of our capital requirements and needs</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">our cash and cash equivalent liquidity</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">our financing transactions</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the identification of and execution on advantageous acquisition or disposition opportunities, and</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the continuing evaluation of all our assets.</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In this regard, our senior management is engaged in ongoing analysis of (i) where, when and how our capital resources should be allocated, (ii) whether the current deployment of our capital resources is optimal, and (iii) whether our existing business lines should be expanded or curtailed, or if we ought to further
  diversify into new business lines or activities.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Compensation Committee has sought to align these corporate and operational objectives with the compensation programs under which our senior management has been remunerated, in a manner </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">17</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">consistent with the business direction and strategic plan created and approved by the Company&#146;s Board of Directors. In this regard, the Compensation Committee selected working capital and earnings before interest, taxes, depreciation and amortization (&#147;EBITDA&#148;) as bonus performance measures for fiscal year 2012, reflecting
  the Board of Directors&#146; mandate and belief that (i) maintaining adequate levels of working capital (as a key indicator of creating and maintaining a strong balance sheet to provide financial strength in general and to withstand the uncertainties of the current state of the United States and world economies) and (ii) managing
  operational results (including maximizing cash generation from operations) contribute to Griffon&#146;s continuing financial success while also acting as a check against each other, and therefore as a natural risk management tool, with respect to the management of the business.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In January 2009, the Compensation Committee approved a general policy against providing tax gross-ups, except in unusual circumstances where the Compensation Committee believes that accommodations have to be made to recruit a new executive to the Company. Even in those circumstances, any such tax gross-
  up would be limited to payments triggered by both a change in control and termination of employment and would be subject to a three year sunset provision. Since the adoption of this policy, we have not provided any tax gross-ups to our executives other than an amendment described below to a previously existing gross-up
  provision in our employment agreement with Mr. Kramer.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We do not believe that our compensation programs are structured to reward inappropriate risk-taking, and have concluded that our compensation policies and practices are not reasonably likely to result in a material adverse effect on our company, for several reasons, including the following:</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:3.17pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Under our annual performance bonus plan, we used multiple objective incentive performance measures to determine annual cash bonus eligibility for Messrs. Kramer and Wetmore, in order to discourage focusing on a single performance measure.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We provide a mix of variable performance-based annual cash compensation (under our annual performance bonus plan), fixed cash compensation in the form of base salaries, and long-term equity compensation in the form of time-vesting and, beginning in 2011, performance-based restricted stock
      awards. We believe this combination of variable and fixed cash compensation, and a long-term equity interest, which is significantly performance-based and in other respects vests over time, appropriately incentivizes and rewards management while at the same time encourages appropriate &#150; but not
      excessive &#150; levels of risk assumption.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The design of our compensation programs encourages executives to remain focused on both the short-term and long-term success of the Company&#146;s operational and consolidated financial position and objectives. In this regard, a portion of compensation is delivered to executives in the form of an
      annual bonus (subject to reduction in amount through the exercise of &#147;negative discretion&#148; by the Compensation Committee) tied to near-term objective and/or subjective performance criteria, and a significant portion is delivered pursuant to equity awards in the form of both time-vesting restricted stock
      with cliff vesting after a minimum three-year period and, beginning in 2011, performance-based restricted stock awards. The Compensation Committee believes that these restricted share awards focus our executives on the long-term success of the Company.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We have adopted stock ownership guidelines, which serve to align the interests of our directors and executives with those of our stockholders, and encourage focus on long-term performance.</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>
</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">18</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:3.17pc;font-size:0.2mm;">


  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Compensation Committee engages an independent compensation consultant from time to time to guide it in making compensation decisions.</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>

<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Executive Compensation Decisions&#151;The Role of the Compensation Committee, Executives and Consultants</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Compensation Committee is responsible for evaluating and approving the compensation of our executive officers and the presidents of our business units. The Compensation Committee considers recommendations from our Chief Executive Officer with respect to executive compensation matters, except regarding
  his own compensation. From time to time, including with respect to certain decisions made regarding fiscal year 2012 compensation, the Compensation Committee utilizes the services of an independent consulting firm to perform analyses and to make recommendations relative to executive compensation matters. The
  Compensation Committee takes such information into consideration in making its compensation decisions.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Determination of Compensation Levels</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In setting compensation levels, including bonus eligibility levels for our Chief Executive Officer and Chief Financial Officer under our performance bonus plan, and the mix of compensation for fiscal year 2012, the Compensation Committee took into account several factors. These include existing employment
  agreements with individual executives, the desire to motivate the executives and align the compensation of the executives with the financial performance of the Company by providing a substantial portion of the executives&#146; compensation in the form of performance-based compensation, and the Compensation Committee&#146;s
  subjective assessment of the individual&#146;s experience, responsibilities, management, leadership abilities and job performance. Although the Compensation Committee has in the past used focused marketplace compensation analysis and benchmarking for comparison purposes in connection with the recruitment and retention of our
  executive officers, and may use such data as one of the factors in determining compensation of its executive officers in the future, the Compensation Committee did not use benchmarking in the setting of compensation levels in fiscal year 2012. The Compensation Committee recognizes that Griffon has adopted an approach
  that focuses not only on the appropriate deployment of and return of capital in our existing businesses, but also on growth and diversification. Accordingly, while the Committee recognizes the benefit of using comparative information in determining compensation at the corporate level, it also recognizes the limitations of such
  comparisons for a company, such as Griffon, that has shown dynamic development and growth potential. In addition, in assessing compensation levels, the Compensation Committee has been generally cognizant of the high cost of living, especially housing expense, in the New York-New Jersey-Connecticut metropolitan area.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In 2012, the Compensation Committee retained James F. Reda &amp; Associates (&#147;JFR&#148;), an independent outside executive compensation consulting firm. JFR was retained to assist the Committee in evaluating Griffon&#146;s executive compensation practices for senior management personnel and to provide general advice
  regarding compensation practices and policies. JFR is retained directly by the Compensation Committee. Among other things, JFR advised the Committee as to whether the cash bonuses to be paid in respect of fiscal 2012 to Messrs. Kramer and Wetmore under our performance bonus plan were reasonable and appropriate in
  light of (i) the fiscal 2012 performance measures and bonus opportunities approved by the Committee in December 2011 and (ii) the operational and financial results of the Company for fiscal 2012. JFR also advised the Committee on other matters from time to time as requested by the Committee, </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">19</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">including structuring of our restricted share program and tax deductibility of restricted share awards under Section 162(m) of the Internal Revenue Code.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Although the annual advisory shareholder vote on executive compensation is non-binding, the Committee has considered, and will continue to consider, the outcome of this vote each year when making compensation decisions for our Chief Executive Officer and other named executive officers. At our annual meeting
  of shareholders held on January 31, 2012, approximately 79% of the shareholders who voted on the &#147;say-on-pay&#148; proposal approved the compensation of our named executive officers, while approximately 9% voted against (with approximately 12% abstaining). The Committee believes that this shareholder vote strongly
  endorses the compensation philosophy of the Company.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Elements of Executive Compensation</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><I>Base Salary. </I>We pay a base salary that the Compensation Committee determines is competitive with respect to the scope, responsibilities and skills required of the particular position in order to attract and retain qualified individuals. As discussed above, the Compensation Committee assesses compensation from other
  companies from time to time by analyzing the compensation paid in the marketplace. Annual merit increases are considered after annual review, on a subjective basis, and we are contractually obligated to give our Chief Executive Officer an annual cost of living adjustment. Mr. Kramer&#146;s base salary was increased to
  $913,440, effective October 1, 2011, representing a 3.8% cost of living increase, and to $928,055, effective October 1, 2012, representing a 1.6% cost of living increase, in each case pursuant to the terms of Mr. Kramer&#146;s employment contract.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Mr. Wetmore&#146;s salary was increased to $570,900, a 3.8% increase, effective December 1, 2011, and to $580,024, a 1.6% increase, effective December 1, 2012. Mr. Kaplan&#146;s salary was also increased 3.8% effective December 1, 2011 (to $332,160), and 1.6% effective December 1, 2012 (to $337,475). With respect to
  Patrick L. Alesia, our Senior Vice President and Chief Administrative Officer, the Compensation Committee considered Mr. Alesia&#146;s participation in the Company&#146;s SERP, his prior equity awards and prior bonus awards, as well as the existing challenging economic environment, and concluded that Mr. Alesia&#146;s current total
  compensation package was appropriate and, accordingly, the Compensation Committee did not increase Mr. Alesia&#146;s annual base salary in fiscal year 2012 from the $445,000 per annum that he received for fiscal year 2011. As noted below, Mr. Alesia is retiring effective December 31, 2012.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><I>Annual Cash Incentive Bonuses.</I> Annual cash incentive bonuses are designed to provide a significant and variable financial opportunity to our executive officers on an annual basis based upon Company and individual performance.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In November 2010, our Board of Directors adopted the 2011 Performance Bonus Plan, which was approved by stockholders at our annual meeting of stockholders held on February 3, 2011. This plan replaced our prior 2006 Performance Bonus Plan. Bonus awards under the 2011 Performance Bonus Plan, if any, are
  intended to qualify as &#147;performance-based compensation&#148; under Section 162(m) of the Internal Revenue Code. Accordingly, the 2011 Performance Bonus Plan maximizes the deductibility of compensation paid to our senior executives who are subject to Section 162(m)&#146;s potential deduction limitations. The Performance Bonus
  Plan is administered by the Compensation Committee, which selects the participants and establishes the performance periods and the specific objective performance goals to be achieved during those periods. The Compensation Committee believes that the 2011 Performance Bonus Plan supports our Company&#146;s pay-for-
  performance philosophy by making the payment of annual bonus amounts to our most senior executive officers contingent upon the achievement of pre-established and objective performance </FONT></P>
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<P><FONT style="font-family:serif; font-size:3.8mm; ">goals. Moreover, the Compensation Committee retains, and in recent years has exercised, negative discretion to reduce bonus awards otherwise earned through the attainment of the performance goals.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In December 2011, in accordance with and pursuant to the 2011 Performance Bonus Plan, the Compensation Committee established objective, calculable and prospective goals under that plan for fiscal year 2012. These goals were established by the Compensation Committee to be consistent with our operational,
  strategic and capital objectives for fiscal year 2012 approved by the Board at the beginning of the fiscal year. In establishing goals, the Compensation Committee seeks to create incentives for the attainment of the capital, strategic and operational objectives set by the Board.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Consistent with the strategy and business objectives set by the Board, the Compensation Committee determined that objectives should be established in two different areas&#151;achieving strong operating results, as measured by EBITDA, and continuing to strengthen Griffon&#146;s balance sheet, as measured by working capital
  level. In fiscal 2011, the cash bonus opportunity for each of Mr. Kramer and Mr. Wetmore was split 50% based on EBITDA and 50% based on working capital. For fiscal 2012, while the Committee continued to believe it important to use working capital as a performance measure to creates an appropriate incentive to
  maintain liquidity, the Committee desired to put a stronger emphasis on operating results and therefore weighed EBITDA performance more heavily (accounting for 75% of the cash bonus opportunities for Messrs. Kramer and Wetmore), and assigned a 25% weighting to working capital. With respect to Mr. Kramer, levels of
  achievement were established for each objective, up to a maximum potential bonus of $7.5 million for the attainment of a specified level of EBITDA and $2.5 million for a specified level of working capital. With respect to Mr. Wetmore, the maximum potential bonus amounts determined were $1.5 million for the attainment
  of a specified level of EBITDA and $0.5 million for a specified level of working capital. The Compensation Committee retained the power to reduce (but not increase) the bonuses actually awarded under the 2011 Performance Bonus Plan to ensure that the aggregate bonus actually paid under that Plan to any individual was,
  in the judgment of the Compensation Committee, reasonable and in the best interests of the Company.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Committee establishes EBITDA targets after the Board has reviewed the Griffon operating plan developed by management for the coming fiscal year. That operating plan incorporates the plans and budgets of each of the Company&#146;s operating subsidiaries as well as corporate expense, and requires that certain
  levels of organic growth be achieved for the payment of target bonuses at the subsidiary levels. In establishing EBITDA targets, the Compensation Committee considered similar factors to those considered when EBITDA target levels were set for fiscal 2010 and 2011, such as</FONT></P>
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      the challenging U.S. and global economic environment, including in particular the downturn, and slower than expected recovery, of the U.S. housing market, which has a direct impact on the Company&#146;s building products business.</FONT></P></TD>
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    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">how the current economic environment is likely to impact consumer spending, and the likely resultant impact on Ames, the Company&#146;s lawn and garden tool business that was acquired in the fall of 2010.</FONT></P></TD>
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    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the uncertain defense budgetary environment, and the possible impact of reduced military spending by the U.S. government on Telephonics, the Company&#146;s defense electronics business.</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
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<P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Compensation Committee also considered that the setting of appropriate EBITDA targets would create an incentive to control general and administrative expenses. Based on the foregoing, the Compensation Committee established an EBITDA target that ranged from $130 million as a minimum threshold for bonus </FONT></P>
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<P><FONT style="font-family:serif; font-size:3.8mm; ">eligibility under the 2011 Performance Bonus Plan for operational results to $170 million as the level at which a maximum bonus could be awarded.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In establishing working capital targets, the Compensation Committee considered the capital requirements of the Company necessary for the Company to maintain a strong balance sheet and desirable levels of liquidity for fiscal year 2012. The Committee also considered the successful closing of the senior notes
  offering in March 2011, as well as anticipated cash expenditures for fiscal year 2012. The Committee believes that working capital is an appropriate measure of financial strength and stability as it prevents excessive reliance on short-term borrowings, thereby reducing the Company&#146;s exposure to uncertainties of the capital
  markets. Importantly, the Compensation Committee also recognized the inherent tension between maintaining a strong working capital position and the mandate of the Company&#146;s Board of Directors to increase earnings growth through acquisitions of synergistic or complementary businesses. To address this, the Compensation
  Committee determined that 50% of amounts expended in connection with such mandated acquisitions would be added back to the Company&#146;s fiscal year 2012 final working capital levels. The fiscal year 2012 year-end working capital levels permitting the payment of bonuses, as determined by the Compensation Committee,
  ranged from $544 million as a minimum threshold to $604 million at which a maximum bonus could be awarded.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">After the conclusion of fiscal year 2012 and the preparation of the Company&#146;s audited financial statements, the Compensation Committee held meetings in which the Committee reviewed the extent to which targets established under the 2011 Performance Bonus Plan were attained and considered the extent to which
  bonuses under that plan would be paid. The Committee determined that Mr. Kramer was eligible for a $3.3 million bonus as a result of the EBITDA generated by the Company&#146;s operations (actual EBITDA fell between the &#147;target&#148; level of $130 million, which provided for a payout of $2.0 million, and the &#147;out&#148; level of
  $153 million, which provided for a payout of $4.0 million and, as previously approved by the Committee, interpolation was used to arrive at the $3.3 million amount), and a bonus of $1.1 million based upon the level of the Company&#146;s working capital at year end (actual working capital at year end fell between the &#147;target&#148;
  level of $544 million, which provided for a payout of $1.0 million, and the &#147;out&#148; level of $564 million, which provided for a payout of $1.25 million and, as previously approved by the Committee, interpolation was used to arrive at the $1.1 million amount), for a total aggregate bonus of $4.4 million. Similarly, the
  Committee determined that Mr. Wetmore was eligible for a $0.7 million bonus as a result of the attainment of the EBITDA generated by the Company&#146;s operations (actual EBITDA fell between the &#147;target&#148; level of $130 million, which provided for a payout of $0.4 million, and the &#147;out&#148; level of $153 million, which provided
  for a payout of $0.8 million and, as previously approved by the Committee, interpolation was used to arrive at the $0.7 million amount), and a bonus of $0.2 million based upon the level of the Company&#146;s working capital at year end (actual working capital at year end fell between the &#147;target&#148; level of $544 million, which
  provided for a payout of $0.2 million, and the &#147;out&#148; level of $564 million, which provided for a payout of $0.25 million and, as previously approved by the Committee, interpolation was used to arrive at the $0.2 million amount), for a total aggregate bonus of $0.9 million. The Committee recognized the strong leadership and
  substantial contributions of Messrs. Kramer and Wetmore that lead towards the excellent enhancement of the Company&#146;s balance sheet which has placed the Company in a strong financial position, and also took note of the solid operating results of the Company on both a consolidated and adjusted basis in the current,
  challenging economic environment. However the Compensation Committee also considered other factors, such as the relationship between the Company&#146;s stock price performance and the trend in Mr. Kramer&#146;s and Mr. Wetmore&#146;s pay in recent years and, as a result, the Compensation Committee determined to exercise negative
  discretion with respect to each of Messrs. Kramer and Wetmore. In doing so, the Committee concluded that a cash bonus of $3.5 </FONT></P>
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<P><FONT style="font-family:serif; font-size:3.8mm; ">million, representing a cutback of 21%, should be paid to Mr. Kramer and a cash bonus of $650,000, representing a cutback of 26%, should be paid to Mr. Wetmore.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The bonuses for Messrs. Alesia and Kaplan are discretionary and are based primarily upon a subjective analysis by the Compensation Committee of each such executive&#146;s individual performance. The Compensation Committee determined that Mr. Alesia continued to perform well in the position of Chief
  Administrative Officer, and that the Company benefitted from Mr. Alesia&#146;s institutional knowledge and lengthy service with the Company. Based on these considerations, the Compensation Committee awarded Mr. Alesia a bonus of $125,000 in respect of fiscal year 2012. With respect to Mr. Kaplan, the Committee recognized
  the substantial contributions and enhancements made by Mr. Kaplan relating to the Company&#146;s legal function during fiscal 2012, and determined that Mr. Kaplan be awarded a bonus of $225,000 in respect of fiscal year 2012.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><I>Equity-based Compensation.</I> Equity-based compensation is designed to provide incentives to our executive officers to build stockholder value over the long term by aligning their interests with the interest of stockholders. Historically, equity-based compensation consisted of stock options granted by the Compensation
  Committee under our stock option plans. In 2006, we began granting time-based restricted stock awards as the Compensation Committee determined that this was a more effective vehicle for the motivation and retention of our executive officers. In 2011, we started including performance criteria as a component of certain of
  our restricted stock awards, in order to further implement the Committee&#146;s philosophy of aligning executive compensation with the financial performance of the Company, and motivating executives, by providing a substantial portion of our executives&#146; compensation in the form of performance-based compensation. The
  Committee believes that equity-based compensation provides an incentive that focuses the executive&#146;s attention on managing our Company from the perspective of an owner with an equity stake in the business. In determining the amount of equity-based compensation to be awarded to our named executive officers, the
  Compensation Committee takes into consideration, among other things, the level of the officer&#146;s responsibility, performance of the officer, other compensation elements and the amount of previous grants of stock and options. In addition, with respect to recruiting an executive officer to join our Company, the amount of equity
  consideration may be negotiated to reflect the amount necessary to hire the desired person. The largest grants are generally awarded to the most senior officers who, in the view of the Compensation Committee, have the greatest potential to have an impact on our profitability, growth and financial position.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Pursuant to our 2011 Equity Incentive Plan (the &#147;Incentive Plan&#148;), we may issue equity awards in respect of up to 3,000,000 shares of our common stock. The Compensation Committee believes that the Incentive Plan allows our Company to attract and retain executive management by providing them with appropriate
  equity-based incentives and rewards for superior performance.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In February of 2011, Mr. Kramer was granted 700,000 shares of restricted stock. Subject to Mr. Kramer&#146;s continued employment, of the 700,000 shares granted to Mr. Kramer, 200,000 will cliff vest in full on February 11, 2014, and 500,000 shares will vest one year after (and only if) the Company&#146;s common stock
  closes at a price of $16.00 or higher for thirty consecutive trading days on or prior to January 9, 2016 (if the performance condition is not met by January 9, 2016, these 500,000 restricted shares will be forfeited). This award is subject to earlier vesting in the event of death, Disability, a Change in Control of our Company or
  if Mr. Kramer is terminated without Cause or leaves for Good Reason (as such terms are defined in Mr. Kramer&#146;s Employment Agreement).</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Similarly, in February of 2011, Mr. Wetmore was granted 150,000 shares of restricted stock. Subject to Mr. Wetmore&#146;s continued employment, of the 150,000 shares granted to Mr. Wetmore, 60,000 </FONT></P>
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<P><FONT style="font-family:serif; font-size:3.8mm; ">will cliff vest in full on February 11, 2014, and 90,000 shares will vest one year after (and only if) the Company&#146;s common stock closes at a price of $16.00 or higher for thirty consecutive trading days on or prior to January 9, 2016 (if the performance condition is not met by January 9, 2016, these 90,000 restricted shares
  will be forfeited). This award is subject to earlier vesting in full if Mr. Wetmore is terminated without Cause or leaves for Good Reason, and is subject to earlier vesting on a pro rata basis if Mr. Wetmore&#146;s employment terminates due to Disability (as such terms are defined in Mr. Wetmore&#146;s Employment Agreement).</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">With respect to the February 2011 awards to Messrs. Kramer and Wetmore, the Committee previously expressed the view that these awards were intended as &#147;multi-year&#148; awards. Accordingly, neither Mr. Kramer nor Mr. Wetmore was eligible to receive, and neither was granted, an annual equity award in fiscal 2012.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The requirement that the Company&#146;s common stock close at a price of $16.00 or higher for thirty consecutive trading days was originally a twenty-consecutive trading day requirement; the Committee approved the change to thirty days in December 2011. In January 2012 the awards were amended to (i)&nbsp;eliminate a
  prior automatic seven year time vesting feature, (ii)&nbsp;require that the stock price performance condition be met by January 9, 2016, and (iii)&nbsp;add the one-year retention period following satisfaction of the stock price performance condition.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">On December 7, 2011, Mr. Kaplan was granted 45,000 shares of restricted stock under the Incentive Plan, which restricted shares will vest on December 7, 2014 if, and only if, Company consolidated EBITDA is equal to or greater than $170 million in at least one of 2012, 2013 or 2014. If the EBITDA performance
  condition is not attained, the restricted shares will be forfeited. These restricted shares are subject to earlier vesting if, within two years after a Change in Control Mr. Kaplan is terminated without Cause or leaves for Good Reason. The Compensation Committee determined to grant this award (i)&nbsp;based on a subjective analysis
  of Mr. Kaplan&#146;s performance, (ii) to provide enhanced retention and motivation for Mr. Kaplan, (iii) to reflect the Company&#146;s philosophy that a substantial portion of the compensation of its senior executives should be performance-based, and (iv) as a measure of compensation risk to management in that it requires Mr. Kaplan
  to remain with the Company for a significant period of time before vesting in the equity award and effectively subjects Mr. Kaplan to the same share value risks to which our stockholders are subject during the cliff vesting period. On December 6, 2012, Mr. Kaplan was granted 50,000 shares of restricted stock under the
  Incentive Plan, which restricted shares will vest, subject to Mr. Kaplan&#146;s continued employment, on December 7, 2015 if, and only if, Company consolidated EBITDA is equal to or greater than $170 million in at least one of 2013, 2014 or 2015.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Compensation Committee believes that the Company benefits from the retention element provided by a three year cliff vesting period, and has determined that cliff vesting, rather than pro-rata annual vesting, better aligns an executive&#146;s compensation interests with the longer-term business strategies and tactics of
  the Company over the vesting period. The Committee also believes that cliff-vesting reduces the motivation to engage in short-term strategies that may increase the Company&#146;s share price in the near term but not create the best foundation for maximizing long-term stockholder value. The long-term vesting requirement is
  therefore also considered a disincentive to excessive risk taking by management as any adverse consequences of such risks would be reflected in the value of the equity awards by the time those awards vest. Accordingly, all restricted share awards to executives in recent years, other than the performance-based awards granted
  to Messrs. Kramer and Wetmore in February 2011 that vest based on performance of the Company&#146;s stock price, reflect a minimum three-year cliff vesting period.</FONT></P>
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<P style="text-indent:13.4mm; "><FONT style="font-family:serif; font-size:3.8mm; "><I>Retirement, Health and Welfare Benefits and Other Perquisites.</I> Effective October 1, 1996, we adopted the Griffon Corporation Supplemental Executive Retirement Plan (&#147;SERP&#148;) for certain of our officers. The Company adopted and continues to maintain the SERP for its long service employees as an incentive for
  both current performance and continued service with our Company. Patrick L. Alesia is our only active participant in this plan. As described below, Mr. Alesia will be retiring as of December 31, 2012, and therefore we will start making payments to Mr. Alesia under the SERP as soon as we are permitted to do so by the
  deferred compensation rules promulgated pursuant to Section 409A of the Code.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The normal retirement age under the SERP is 72. No benefit is payable unless a participant is vested at the time of termination of employment. A participant&#146;s right to receive a benefit vests after 20 years of service and one year of participation in the SERP, or upon a Change of Control (as defined in the SERP).</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The SERP provides an annual benefit upon termination equal to the sum of .25% of Average Base Salary and 1.5% of Average Bonus/Incentive Compensation multiplied by completed years of service (up to a maximum of 30). &#147;Average&#148; means, for each of &#147;Average Base Salary&#148; and &#147;Average Bonus/Incentive
  Compensation,&#148; the average of the three highest paid years out of the last ten prior to retirement. Benefits are adjusted for early retirement and retirement after the normal retirement date. Retirement benefits are payable for life, with a guarantee of 10 years of payments. In addition, the SERP provides a pre-retirement death
  benefit payable for 10 years to the participant&#146;s beneficiary. Notwithstanding the foregoing, upon a Change in Control (as defined in the SERP), the participant&#146;s retirement benefits will be paid in a lump sum.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our executive officers are entitled to participate in all of our employee benefit plans, including medical, dental, vision, group life, disability, accidental death and dismemberment insurance and our 401(k) Retirement Plan and ESOP. We provide vacation and paid holidays to our executive officers. We provide
  additional medical benefits to our named executive officers pursuant to a secondary self-insured health insurance plan that covers items not covered by our primary health insurance plan available to our employees generally. We also provide certain of our executive officers with a leased car or allowance and/or additional life
  insurance not available to our employees generally. We provide these perquisites to Messrs. Kramer, Wetmore and Kaplan pursuant to the terms of their respective employment agreements and to Mr. Alesia as a means to retain his services to our Company. See the Summary Compensation Table for details regarding the value
  of perquisites received by our executive officers. We also provide Mr. Kramer a Company car and driver pursuant to the terms of Mr. Kramer&#146;s employment agreement; to the extent Mr. Kramer utilizes this service for personal use, the relative value is reflected in the Summary Compensation Table.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Employment Agreements</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In March 2008, we entered into an employment agreement with Ronald J. Kramer, pursuant to which he became our Chief Executive Officer effective April 1, 2008. We entered into an amendment to this agreement with Mr. Kramer on February 3, 2011. Pursuant to the terms of the employment agreement, as
  amended:</FONT></P>
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      &#149;</FONT></P></TD>
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    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Mr. Kramer&#146;s term of employment with us continues for three years from the date on which either party gives notice that the term of employment will not be further renewed.</FONT></P></TD>
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    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
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    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We provided an initial annual base salary to Mr. Kramer of $775,000, which is subject to cost of living, as well as discretionary, increases.</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
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  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Mr. Kramer is eligible for an annual cash bonus as determined by the Compensation Committee.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We provide certain perquisites to Mr. Kramer, as described above under <I>&#147;Retirement, Health and Welfare Benefits and Other Perquisites&#148; </I>and as reflected in the Summary Compensation Table.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We provided restricted stock grants to Mr. Kramer of 250,000 shares, 75,000 shares and 25,000 shares on April 1, 2008, October 1, 2008 and October 1, 2009. These awards of restricted stock cliff vested on April 1, 2011.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Mr. Kramer is entitled to receive severance payments upon termination of his employment under certain circumstances, as more fully described below under &#147;Potential Payments Upon Termination or Change in Control.&#148;</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>

<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Under his employment agreement Mr. Kramer is also entitled to a limited gross-up payment for excise taxes that may be incurred under Section 4999 of the Internal Revenue Code (the &#147;Code&#148;) so that he would not be required to bear the portion of any excise tax under Code Section 4999 with respect to a change in
  control occurring during the period April 2, 2012 to December 31, 2012 solely attributable to the fact that the minimal fees Mr. Kramer received in calendar 2007 when he served only as a non-employee director of Griffon would (pursuant to Code Section 280G and the regulations thereunder) be included in determining Mr.
  Kramer&#146;s five year average compensation for a change in control occurring during such period.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">On August 6, 2009, we entered into an employment agreement with Douglas J. Wetmore, pursuant to which he became our Executive Vice President and Chief Financial Officer effective September 1, 2009. Pursuant to the employment agreement, Mr. Wetmore&#146;s initial term of employment will continue until
  September 1, 2013 and thereafter will automatically renew for successive one-year periods, unless either party provides appropriate notice of non-renewal to the other party. The agreement provided for Mr. Wetmore to receive an initial annual base salary of $500,000, subject to discretionary increases. Commencing with the
  2010 fiscal year, Mr. Wetmore became eligible for an annual cash bonus as determined by the Compensation Committee. Mr. Wetmore shall also be entitled to receive severance payments upon termination of his employment under certain circumstances, as more fully described below under &#147;Potential Payments Upon
  Termination or Change in Control.&#148; Mr. Wetmore received the severance arrangement as an inducement to recruit him to join our Company.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Pursuant to the terms of Mr. Wetmore&#146;s employment agreement, on September 1, 2009, Mr. Wetmore received a restricted stock grant of 200,000 shares of common stock under the Company&#146;s 2006 Equity Incentive Plan, which will vest on September 1, 2013, subject to Mr. Wetmore&#146;s continued employment with
  the Company. Notwithstanding the foregoing, the restricted stock grant shall immediately vest in full in the event of termination of Mr. Wetmore&#146;s employment without Cause or if he leaves for Good Reason (as such terms are defined in Mr. Wetmore&#146;s employment agreement). If Mr. Wetmore&#146;s employment terminates due to
  disability, a pro-rata portion of the restricted stock grant will vest.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">On April 27, 2010, we entered into an employment agreement and related severance agreement with Seth L. Kaplan, pursuant to which he became our Senior Vice President, General Counsel and Secretary effective on May 17, 2010. Pursuant to these agreements, Mr. Kaplan&#146;s initial term of employment will continue
  until May 17, 2014 and thereafter will automatically renew for successive one-year periods, unless either party provides appropriate notice of non-renewal to the other party. The agreement provided for Mr. Kaplan to receive an initial annual base salary of $312,500, subject to </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">26</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">discretionary increases. Commencing with the 2010 fiscal year, Mr. Kaplan became eligible for an annual cash bonus (at a target of 50% of base salary), which bonus was pro-rated for the 2010 fiscal year. Mr. Kaplan shall also be entitled to receive severance payments upon termination of his employment under certain
  circumstances, as more fully described below under &#147;Potential Payments Upon Termination or Change in Control.&#148; Mr. Kaplan received the severance arrangement as an inducement to recruit him to join our Company.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Pursuant to the terms of Mr. Kaplan&#146;s employment agreement, on May 17, 2010, Mr. Kaplan received a restricted stock grant of 40,000 shares of common stock under the Company&#146;s 2006 Equity Incentive Plan, which will vest on May 17, 2014, subject to Mr. Kaplan&#146;s continued employment with the Company.
  Notwithstanding the foregoing, the restricted stock grant shall immediately vest in full in the event of termination of Mr. Kaplan&#146;s employment without Cause or if he leaves for Good Reason (as such terms are defined in Mr. Kaplan&#146;s severance agreement). If Mr. Kaplan&#146;s employment terminates due to disability, a pro-rata
  portion of the restricted stock grant will vest.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Patrick L. Alesia, our Senior Vice President and Chief Administrative Officer, is not bound by an employment agreement with us, but is party to a severance agreement, entered into in July 2006, which provides for certain payments in the event he is terminated within 24 months after a change in control, as more
  fully described below under &#147;Potential Payments Upon Termination or Change in Control.&#148; On December 11, 2012, we entered into a consulting agreement with Mr. Alesia, pursuant to which he will retire as of December 31, 2012 and consult with us for a two-year period expiring on December 31, 2014. This consulting
  agreement will supersede and replace the severance agreement as of December 31, 2012. Under the consulting agreement, we will pay Mr. Alesia an annual consulting fee of $250,000, and Mr. Alesia has agreed to make himself available to consult with our Chief Executive Officer, or his designees, regarding matters within
  Mr. Alesia&#146;s knowledge, expertise and experience, consistent with the types of matters in which he was engaged as an executive officer of the Company. We have agreed that all restricted shares held by Mr. Alesia will continue to vest on their terms during the period of the consulting agreement. We have also agreed to
  provide Mr. Alesia with health and medical insurance benefits during the term of the consulting agreement, as well as reimbursement of expenses related to an automobile through September 2013, each on terms consistent with past practice. The consulting agreement requires Mr. Alesia to comply with customary non-
  competition and non-solicitation restrictions during the term of the consulting agreement, as well as a customary non-disparagement clause, and subjects Mr. Alesia to customary terms regarding the protection and confidentiality of our trade secrets, proprietary information and technologies, designs and inventions. The
  Compensation Committee determined to enter into the consulting agreement with Mr. Alesia so that the Company could continue to benefit from Mr. Alesia&#146;s institutional knowledge, experience and lengthy tenure with the Company during the consulting term, as well as to ensure a smooth transition of his responsibilities to
  other members of our executive management.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">With respect to the agreements described above, each of Messrs. Kramer, Wetmore, Alesia (with respect to his severance agreement) and Kaplan has agreed to a customary non-competition provision that extends for a post-termination period. This period is twelve months for Mr. Kramer, eighteen months for Messrs.
  Wetmore and Kaplan, and twenty-four months for Mr. Alesia (with respect to his severance agreement). Messrs. Kramer, Wetmore, Alesia and Kaplan have also agreed to customary terms regarding the protection and confidentiality of our trade secrets, proprietary information and technologies, designs and inventions. A
  &#147;change in control&#148; is generally defined in the agreements to include, among other things, the acquisition by a person or entity of more than 30% of the voting securities of our Company, the current Board of Directors no longer constituting a majority of the Board (directors approved by the existing Board will be considered
  a part of the current Board), and certain merger or sale of assets transactions. As noted </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">27</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">above, Mr. Alesia&#146;s severance agreement will be superseded and replaced by his consulting agreement as of December 31, 2012.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Stock Ownership Guidelines</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In November 2010, we adopted stock ownership guidelines which require that our executive officers acquire, over time, a certain number of shares of our common stock. Under the Company&#146;s stock ownership guidelines:</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.6pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      the target number of shares for compliance is stated in dollar amounts</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the executive is required, within three years of the adoption of the policy (or, for future executive officers, within three years of assuming such position with the Company), to reach the target dollar value through ownership of shares of common stock and to retain the target amount of shares until
      termination of service</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the target dollar value is as follows:</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>



<table cellspacing="0" style="margin-left:8.25%;margin-right:0.00%;width:84.21%;" >
<TR valign="top">
    <TD style="width:52.63%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:28.95%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Position <font style="word-spacing: 0.50pc;">&nbsp;</font></B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Target Dollar Value <font style="word-spacing: 0.50pc;">&nbsp;</font></B></FONT></P></TD>
  </TR>


  <TR valign="top">
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      CEO</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      5x Salary</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      CFO</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      3x Salary</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Executive Officers other than CEO and CFO</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      2x Salary</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      Segment and Business Unit Presidents</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      2x Salary</FONT></P></TD>
  </TR>
</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.6pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      until the target dollar value has been reached, the executive must retain all &#147;net&#148; shares received under any Company equity compensation program (&#147;net&#148; shares means all shares net of taxes and, in the case of options, exercise price)</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">testing for compliance is done quarterly</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">once the executive holds the target dollar value as of a testing date, he is deemed to be in compliance with the policy so long as he continues to hold at least the number of shares he held as of that testing date</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-size:3.8mm; ">&#149;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">the following shares count toward reaching the applicable guideline amount:</FONT></P>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:2.67pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      restricted shares granted under our equity incentive plans</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#151;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">shares held by an investment fund or other investment vehicle with which the executive is affiliated</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#151;</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">shares held by a parent, child or grandchild of the executive, or by a trust or other entity established for any such family members, so long as the executive retains the power to dispose </FONT></P>
    <P style="text-indent:23.9mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.6pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-size:3.8mm; ">
      &#149;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      if an executive fails to be in compliance within the applicable three year period, this can be considered by the Compensation Committee in determining future equity awards</FONT>
    <P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Under these guidelines, each of our executive officers, and segment and business unit presidents, either holds shares with a value greater than the applicable target dollar value, or we believe will own such </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">28</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">amount of shares within the specified three-year period. At the end of the three-year period, any executive who does not hold shares with the requisite target value is restricted from selling any shares received under our equity plans (net of shares that may be used to pay taxes and, in the case of options, exercise price). We
  monitor compliance with the guidelines on a periodic basis. Our Stock Ownership Guidelines apply to directors as well, as described below in the discussion of the compensation of our Board of Directors.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Tax and Accounting Implications</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Internal Revenue Code Section 162(m) prevents publicly traded companies from receiving a tax deduction on certain compensation in excess of $1,000,000 for each covered executive officer in any taxable year. Compensation that is &#147;performance-based&#148; under the Internal Revenue Code&#146;s definition is exempt from
  this limit.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Cash bonuses paid under our Performance Bonus Plan are performance-based, and therefore deductible, under Section 162(m), without limitation. Compensation income attributable to the vesting of our time-based restricted stock is not performance-based as defined in Section 162(m), and therefore the related
  compensation expense is not deductible under that section to the extent that, together with other compensation attributed to a covered executive officer in the applicable year that is not performance-based, such income exceeds $1,000,000.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Other than a portion of the amount reflected in the &#147;All Other Compensation&#148; column of the Summary Compensation Table with respect to Mr. Kramer for fiscal 2012, the Compensation Committee does not believe there will be any non-deductible compensation for calendar year 2012. Our policy with respect to
  qualifying compensation paid to our covered executive officers for tax deductibility purposes is that, other than restricted stock grants awarded to certain covered executive officers that are not performance-based and therefore do not qualify for exemption under Section 162(m), executive compensation plans will generally be
  designed and implemented to maximize tax deductibility. However, non-deductible compensation may still be paid to covered executive officers in circumstances when necessary for competitive reasons or to attract or retain a key executive, or in situations where achieving maximum tax deductibility may not be in the best
  overall interest of the Company.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Additionally, as stated above, the Compensation Committee believes that each executive should be responsible for the taxes payable with respect to such individual&#146;s compensation. Accordingly, except in limited circumstances as described above, the Compensation Committee has established a general policy against
  providing tax gross-ups to executives.</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">29</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>EQUITY COMPENSATION PLAN INFORMATION</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The following sets forth information relating to our equity compensation plans as of September&nbsp;30,&nbsp;2012:</FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:51.22%;"><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:13.38%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:13.38%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:18.07%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Plan Category</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      (a)<br>Number of<br>securities to be<br>issued upon<br>exercise of<br>outstanding<br>options, warrants<br>and rights</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      (b)<br>Weighted-<br>average<br>exercise price of<br>outstanding<br>options, warrants<br>and rights</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      (c)<br>Number of securities<br>remaining available for<br>future issuance under<br>equity compensation<br>plans (excluding<br>securities reflected in<br>column (a))</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Equity compensation plans approved by security holders (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      753,035</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       18.86</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      1,802,159</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Equity compensation plans not approved by security holders (2)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      176,726</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       18.16</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
</TABLE>


<P style="text-indent:13.4mm; margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "><hr noshade="noshade" color="k" align="left" style="width:8.50pc; height:0.50pt;;"></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 -6.9mm; "><FONT style="font-family:serif; font-size:3.1mm; ">&nbsp;</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      Excludes restricted shares issued in connection with our equity compensation plans; as of September 30, 2012, 3,443,002 unvested shares of restricted stock have been awarded under our equity compensation plans and remain subject to certain forfeiture conditions. The total reflected in Column (c) includes shares available for grant as any equity award under the Incentive Plan.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Our 1998 Employee and Director Stock Option Plan is the only equity plan which was not approved by our stockholders. No new awards have been granted under the Employee and Director Stock Option Plan since February 2008.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>COMPENSATION COMMITTEE REPORT</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We have reviewed the Compensation Discussion and Analysis required by Item 402(b) of Regulation S-K with the Company&#146;s management. Based on such review and discussion, we have recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this Proxy Statement and
  incorporated by reference into the Company&#146;s Annual Report on Form 10-K for the fiscal year ended September 30, 2012.</FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="top">
    <TD style="width:48.68%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:48.68%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>


  <TR valign="top">
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; "><B><I>
      Compensation Committee</I></B><br>Henry A. Alpert (Chairman)<br>Dr. Bertrand M. Bell<br>Rear Admiral Robert G. Harrison (USN Ret.)</FONT></P></TD>
  </TR>
</TABLE>


<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">30</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">

<PAGE>

<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Summary Compensation Table</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The following table sets forth all compensation for the fiscal years ended September 30, 2012, 2011 and 2010 awarded to or earned by our principal executive officer, principal financial officer and each of our other executive officers. We refer to these individuals as our &#147;named executive officers&#148; or &#147;NEOs.&#148;</FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:21.65%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:3.71%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:5.70%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:5.70%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.02%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:5.83%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:11.03%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:10.80%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:10.80%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.90%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Name and Principal Position</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Year</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Salary<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Bonus<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Stock<br>Awards<br>($)(2)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Option<br>Awards<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Non-Equity<br>Incentive Plan<br>Compensation<br>($)(3)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Change in<br>Pension<br>Value and<br>Nonqualified<br>Deferred<br>Compensation<br>Earnings<br>($)(4)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      All<br>Other<br>Compensation<br>($)(5)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Total($)</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Ronald J. Kramer</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2012</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      913,440</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      3,500,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      204,915</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      4,618,355</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Chief Executive Officer</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2011</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      866,667</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      8,715,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      3,500,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      130,574</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      13,212,240</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2010</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      800,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2,119,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      5,000,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      102,057</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      8,021,057</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Douglas J. Wetmore</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2012</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      567,417</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      650,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      63,866</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      1,281,282</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Executive Vice President</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2011</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      541,667</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      1,867,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      650,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      52,076</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      3,111,243</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">and Chief Financial Officer</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2010</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      500,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      142,050</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      1,000,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      48,360</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      1,690,410</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Patrick L. Alesia</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2012</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      445,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      125,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      102,077</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      48,540</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      720,617</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Senior Vice President and</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2011</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      443,333</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      125,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      199,800</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      0</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      52,904</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      821,037</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Chief Administrative Officer</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2010</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      435,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      217,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      119,510</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      56,862</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      828,872</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Seth L. Kaplan</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2012</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      330,133</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      225,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      418,950</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      36,493</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      1,010,577</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Senior Vice President,</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2011</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      318,750</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      160,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      199,800</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      35,605</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      714,155</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; "> General Counsel and</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2010</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      117,188</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      80,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      586,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      6,974</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      790,162</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; "> Secretary (1)</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
</TABLE>

<P style="text-indent:13.4mm; margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "><hr noshade="noshade" color="k" align="left" style="width:8.50pc; height:0.50pt;;"></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 -6.9mm; "><FONT style="font-family:serif; font-size:3.1mm; ">&nbsp;</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      Effective May 17, 2010, Mr. Kaplan was appointed Senior Vice President, General Counsel and Secretary.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Represents the aggregate grant date fair value of shares of restricted stock granted to the NEO during the applicable fiscal year, computed in accordance with FASB ASC Topic 718. These amounts do not correspond to the actual value that will be realized by the NEO.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">For additional information regarding the assumptions made in calculating these amounts, see Note 13, &#147;Stockholders&#146; Equity and Equity Compensation,&#148; to the consolidated financial statements, and the discussion under the heading &#147;ACCOUNTING<br>POLICIES AND PRONOUNCEMENTS&#151;Stock-Based Compensation&#148; in Management&#146;s Discussion and Analysis of Financial<br>Condition and Results of Operations, each included in our Annual Report on Form 10-K for the year ended September 30, 2012.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Amounts paid to Messrs. Kramer and Wetmore under our 2006 Performance Bonus Plan (with respect to 2010) and our 2011 Performance Bonus Plan (with respect to 2011 and 2012).</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Each amount shown represents the difference between the actuarial present value of Mr Alesia&#146;s accumulated benefit under the SERP as of September 30 of the current year and September 30 of the prior year, and does not represent an amount paid to Mr. Alesia. For fiscal 2011, the actuarial present value decreased by $8,280. The increases during fiscal 2012 and 2010 were primarily
      due to changes in the discount rate. Amounts have been determined using discount rate and mortality rate assumptions consistent with those used in our financial statements.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(5)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">All Other Compensation in fiscal year 2012 includes (a) $85,161, $5,051, $3,590 and $1,047 paid by us for life insurance policies on Messrs. Kramer, Wetmore, Alesia and Kaplan, respectively; (b) our contributions under a 401(k) Retirement Plan of $10,000, $10,000, $10,000 and $8,500 for each of Messrs. Kramer, Wetmore, Alesia and Kaplan, respectively; (c) expenses related to
      automobile use in the amounts of $89,368, $41,676, $28,971 and $18,261 for Messrs. Kramer, Wetmore, Alesia and Kaplan, respectively, which for Mr. Kramer includes an amount allocated to reflect the personal use by Mr. Kramer of a driver provided by the Company; (d) $18,274, $5,089, $2,961 and $6,646 paid by us for supplemental health insurance and medical services for each of
      Messrs. Kramer, Wetmore, Alesia and Kaplan, respectively; and (e) Company contributions in the amounts of $2,112, $2,050, $3,018 and $2,039 allocated under our ESOP on behalf of Messrs. Kramer, Wetmore, Alesia and Kaplan, respectively.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">31</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Grants of Plan-Based Awards-Fiscal 2012</B></FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:19.59%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:5.37%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.02%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.02%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.90%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:6.73%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:5.70%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:3.93%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:6.50%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:6.50%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:5.56%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:5.71%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD align="center">
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center">&nbsp;</TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="20" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Estimated Future Payouts Under
      Non-Equity Incentive Plan
      Awards(1)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="20" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Estimated Future Payouts
      Under Equity Incentive Plan
      Awards(2)</B></FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>

  <TR valign="bottom" style="font-size:0.2mm">
    <TD style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Name</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Grant<br>Date</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Threshold<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Target<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Maxi-<br>mum<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Threshold<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Target<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Maxi-<br>mum<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      All Other<br>Stock<br>Awards:<br>Number<br>of Shares<br>of Stock<br>or Units<br>(#)(2)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      All Other<br>Option<br>Awards:<br>Number<br>of<br>Securities<br>Under-<br>lying<br>Options<br>(#)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Exercise<br>or Base<br>Price of<br>Option<br>Awards<br>($/Sh)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.8mm; "><B>
      Grant<br>Date<br>Fair<br>Value of<br>Stock<br>and<br>Option<br>Awards<br>(S)</B></FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Ronald J. Kramer</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      3,000,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      5,250,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      10,000,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Chief Executive Officer</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Douglas J. Wetmore</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      600,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      1,050,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2,000,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Executive Vice President<br>and Chief Financial<br>Officer</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Patrick L. Alesia</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Senior Vice President<br>and Chief<br>Administrative Officer</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Seth L. Kaplan</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      12/7/11</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      418,950</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (3)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      418,950</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (3)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Senior Vice<br>President, General<br>Counsel and<br>Secretary</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
</TABLE>


<P style="text-indent:13.4mm; margin:2.8mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "><hr noshade="noshade" color="k" align="left" style="width:8.50pc; height:0.50pt;;"></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 -6.9mm; "><FONT style="font-family:serif; font-size:3.1mm; ">&nbsp;</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      As discussed in the CD&amp;A, under the individual maximum payouts established by the Compensation Committee under the EBITDA and working capital performance criteria for the fiscal year ended September 30, 2012, Mr. Kramer was eligible for a maximum bonus of up to $10,000,000, and Mr. Wetmore was eligible for a maximum bonus of up to $2,000,000. The Compensation
      Committee, under the 2011 Performance Bonus Plan for the fiscal year end September 30, 2012, also established a &#147;superior&#148; target payout level for each of Mr. Kramer and Mr. Wetmore of $7,500,000 and $1,500,000, respectively.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Dividends paid on shares underlying a restricted stock award during the period such award is outstanding and unvested are paid when and to the extent that such restricted stock award vests.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On December 7, 2011, Mr. Kaplan received an award of 45,000 shares of performance based restricted stock that vests, subject to Mr. Kaplan&#146;s continued employment, in full on December 7, 2014 if, and only if, Company consolidated EBITDA is equal to or greater than $170 million in at least one of 2012, 2013 or 2014. If the EBITDA performance condition is not attained, the
      restricted shares will be forfeited. These restricted shares are subject to earlier vesting if, within two years after a Change in Control Mr. Kaplan is terminated without Cause or leaves for Good Reason.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">32</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Outstanding Equity Awards at Fiscal 2012 Year-End</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The following table sets forth information with respect to the outstanding equity awards of the named executive officers as of September 30, 2012.</FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:17.82%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:8.60%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:9.89%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:8.60%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:5.96%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.59%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:6.76%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.02%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:6.94%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.02%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD align="center">
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="34" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Options Awards</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="27" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Stock Awards</B></FONT></P></TD>
  </TR>

  <TR valign="bottom" style="font-size:0.2mm">
    <TD style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Name</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Number<br>of<br>Securities<br>Underlying<br>Unexercised<br>Options<br>(#)<br>Exercisable</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Number<br>of<br>Securities<br>Underlying<br>Unexercised<br>Options<br>(#)<br>Unexercisable</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Equity<br>Incentive<br>Plan<br>Awards:<br>Number<br>of<br>Securities<br>Underlying<br>Unexercised<br>Unearned<br>Options<br>(#)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Option<br>Exercise<br>Price<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Option<br>Expiration<br>Date</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Number<br>of Shares<br>or Units<br>of Stock<br>That<br>Have<br>Not<br>Vested<br>(#)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Market<br>Value of<br>Shares<br>or Units<br>of Stock<br>That<br>Have<br>Not<br>Vested<br>($) (15)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Equity<br>Incentive<br>Plan<br>Awards:<br>Number<br>of<br>Unearned<br>Shares,<br>Units or<br>Other<br>Rights<br>That<br>Have<br>Not<br>Vested<br>(#)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:2.9mm; "><B>
      Equity<br>Incentive<br>Plan<br>Awards:<br>Market<br>or<br>Payout<br>Value<br>of<br>Unearned<br>Shares,<br>Units<br>or<br>Other<br>Rights<br>That<br>Have<br>Not<br>Vested<br>($) (15)</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Ronald J. Kramer</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      350,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      20.00</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      9/30/2018</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      675,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (1)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      6,952,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (1)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Chief Executive</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      200,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (2)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2,060,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (2)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Officer</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      200,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (3)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2,060,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (3)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      500,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (4)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      5,150,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (4)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Douglas J. Wetmore</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      200,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (5)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2,060,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (5)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Executive Vice</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      15,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (6)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      154,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (6)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">President and Chief</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      60,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (7)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      618,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (7)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Financial Officer</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      90,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (8)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      927,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (8)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Patrick L. Alesia</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      25,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      12.65</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      4/30/2013</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      25,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (9)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      257,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (9)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Senior Vice</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      25,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      19.49</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      8/3/2014</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      25,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (10)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      257,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (10)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">President and Chief</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      30,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      22.41</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      8/3/2015</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      15,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (11)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      154,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (11)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Administrative<br>Officer</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Seth L. Kaplan</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      40,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (12)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      412,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (12)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Senior Vice</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      15,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (13)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      154,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (13)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">President, General</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      45,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (14)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      463,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (14)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Counsel and<br>Secretary</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
</TABLE>


<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "><hr noshade="noshade" color="k" align="left" style="width:8.50pc; height:0.50pt;;"></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 -6.9mm; "><FONT style="font-family:serif; font-size:3.1mm; ">&nbsp;</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      On March 31, 2009, Mr. Kramer received an award of 675,000 shares of restricted stock that cliff vests on March 31, 2013.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On November 18, 2009, Mr. Kramer received an award of 200,000 shares of restricted stock that cliff vests on November&nbsp;18, 2013.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On February 11, 2011, Mr. Kramer received an award of 200,000 shares of restricted stock that cliff vests on February&nbsp;11,&nbsp;2014.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On February 11, 2011, Mr. Kramer received an award of 500,000 shares of performance based restricted stock that vests on the first to occur of (i) February 11, 2018 and (ii) the date upon which the share price of Griffon&#146;s common stock has closed at or above a price of $16 per share for twenty consecutive trading days (such twenty day trading period was later increased to thirty
      days). In January 2012 this award was amended such that the underlying shares vest one year after, and </FONT></P></TD>
  </TR>
</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">33</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">


  <TR valign="bottom">
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17" valign="top"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      only if, the Company&#146;s common stock closes at a price of $16.00 or higher for thirty consecutive trading days on or prior to January 9, 2016; if the performance condition is not met by January 9, 2016, these 500,000 restricted shares will be forfeited.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(5)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On September 1, 2009, Mr. Wetmore received an award of 200,000 shares of restricted stock that cliff vests on September&nbsp;1, 2013.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(6)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On November 18, 2009, Mr. Wetmore received an award of 15,000 shares of restricted stock that cliff vests on November&nbsp;18, 2013.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(7)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On February 11, 2011, Mr. Wetmore received an award of 60,000 shares of restricted stock that cliff vests on February&nbsp;11,&nbsp;2014.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(8)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On February 11, 2011, Mr. Wetmore received an award of 90,000 shares of performance based restricted stock that vests on the first to occur of (i) February 11, 2018 and (ii) the date upon which the share price of Griffon&#146;s common stock has closed at or above a price of $16 per share for twenty consecutive trading days (such twenty day trading period was later increased to thirty
      days). In January 2012 this award was amended such that the underlying shares vest one year after, and only if, the Company&#146;s common stock closes at a price of $16.00 or higher for thirty consecutive trading days on or prior to January 9, 2016; if the performance condition is not met by January 9, 2016, these 90,000 restricted shares will be forfeited.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(9)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On May 8, 2008, Mr. Alesia received an award of 25,000 shares of restricted stock that cliff vests on May 8, 2013.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(10)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On August 6, 2009, Mr. Alesia received an award of 25,000 shares of restricted stock that cliff vests on August 6, 2013.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(11)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On November 15, 2010, Mr. Alesia received an award of 15,000 shares of restricted stock that cliff vests on November&nbsp;15,&nbsp;2013.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(12)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On May 17, 2010, Mr. Kaplan received an award of 40,000 shares of restricted stock that cliff vests on May 17, 2014.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(13)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On November 15, 2010, Mr. Kaplan received an award of 15,000 shares of restricted stock that cliff vests on November&nbsp;15, 2013.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(14)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">On December 7, 2011, Mr. Kaplan received an award of 45,000 shares of performance based restricted stock that cliff vests on December 7, 2014 if, and only if, Company consolidated EBITDA is equal to or greater than $170 million in at least one of 2012, 2013 or 2014.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(15)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">The value reflected is based upon the closing price of the common stock of $10.30 on September 28, 2012.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>

</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">34</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Pension Benefits at Fiscal 2012 Year-End</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The following table provides an estimate of the present value of the stream of payments to which Mr. Alesia would have been entitled as of September 30, 2012 under our Supplemental Executive Retirement Plan, as described more fully above in the Compensation Discussion and Analysis.</FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:34.11%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:19.38%;" align="center"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:6.63%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:16.00%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:13.35%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Name</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Plan Name</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Number<br>Of<br>Years<br>Credited<br>Service<br>(#)(1)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Present Value of<br>Accumulated Benefit<br>($)(2)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Payments During<br>Last Fiscal Year<br>($)</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Patrick L. Alesia</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      Supplement</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      30</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      2,059,543</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Senior Vice President and</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD align="center"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      Executive Retirement Plan</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 5.6mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Chief Administrative Officer</FONT></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD align="center"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD colspan="6"><P><font style="font-size:0.2mm">&nbsp;</font></P></TD>
  </TR>
</TABLE>

<P style="text-indent:13.4mm; margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "><hr noshade="noshade" color="k" align="left" style="width:8.50pc; height:0.50pt;;"></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 -6.9mm; "><FONT style="font-family:serif; font-size:3.1mm; ">&nbsp;</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      Consists of the number of years of service credited to the executive officer as of September 30, 2012 for the purpose of determining benefit service under the applicable pension plan. Constitutes the maximum number of years of service that may be credited under the SERP, which Mr. Alesia has attained.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">The present value of accumulated benefits as of September 30, 2012 was calculated using a 3.40% discount rate and the 1996 U.S. Annuity 2000 Male Mortality table, which is consistent with the assumptions used in our financial statements.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Potential Payments Upon Termination or Change in Control</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">As described above under the section entitled &#147;Compensation Discussion and Analysis - Employment Agreements&#148;, we have entered into employment agreements with Ronald J. Kramer, our Chief Executive Officer and Douglas J. Wetmore, our Executive Vice President and Chief Financial Officer, and a severance
  agreement with Patrick L. Alesia, our Senior Vice President and Chief Administrative Officer, and Seth L. Kaplan, our Senior Vice President, General Counsel and Secretary. These agreements provide for certain post-employment severance benefits in the event of employment termination under certain circumstances.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The following tables provide estimates of the potential severance and other post-termination benefits that Mr. Kramer, Mr. Wetmore, Mr. Alesia and Mr. Kaplan would be entitled to receive assuming their respective employment was terminated as of September 30, 2012 for the reason set forth in each of the columns.</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">35</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><u style="border-bottom: 0.50pt black;;">Ronald J. Kramer</u></B></FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:29.35%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:13.16%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:13.16%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:16.57%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:17.23%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD align="center" style="border-bottom:solid 0.2mm Black; ">
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; "><B>Benefit</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Termination<br>Due to Death</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Termination Due<br>to Disability</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Resignation for Good<br>Reason or<br>Termination by the<br>Company Without<br>Cause Prior to a<br>Change in Control</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Resignation for Good<br>Reason or<br>Termination by the<br>Company Without<br>Cause After a Change<br>in Control</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Salary (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       913,440</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       1,826,880</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       2,740,320</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Bonus (2)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       5,000,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       10,000,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       15,000,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Pro-Rata Bonus (3)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       1,370,160</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Accelerated Option Vesting</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Accelerated Restricted Stock Vesting&nbsp;(4)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       16,222,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       16,222,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       16,222,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       16,222,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Value of health benefits provided after termination (5)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       45,334</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       45,334</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       45,334</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Tax Gross-Up</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       537,995</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (6)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; "><B>Totals</B></FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 1.33pc;">&nbsp;</font>16,222,500</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 1.33pc;">&nbsp;</font>23,551,434</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 2.17pc;">&nbsp;</font>28,094,714</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 1.67pc;">&nbsp;</font>34,546,150</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      Upon termination due to Disability, Mr. Kramer is entitled to an amount equal to 1 times base salary, payable in 12 monthly installments. Upon a resignation for Good Reason or a termination by the Company without Cause, in each case, other than within 24 months after a Change in Control as described in section 409A(a)(2)(A)(v) of the Code (a &#147;409 CIC&#148;), Mr. Kramer is entitled to
      an amount equal to 2 times base salary, payable in 12 monthly installments. Upon a resignation for Good Reason or a termination by the Company without Cause, in each case, within 24 months after a Change in Control that is a 409A CIC, Mr. Kramer is entitled to a lump sum payment equal to 3 times base salary.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon termination due to Disability, Mr. Kramer is entitled to an amount equal to 1 times the highest bonus received by Mr. Kramer over the three-year period prior to the assumed termination date of September 30, 2012, payable in 12 monthly installments. Upon a resignation for Good Reason or a termination by the Company without Cause, in each case, other than within 24 months
      after a Change in Control that is not a 409A CIC, Mr. Kramer is entitled to an amount equal to 2 times such highest bonus, payable in 12 monthly installments. Upon a resignation for Good Reason or a termination by the Company without Cause, in each case, within 24 months after a Change in Control that is a 409A CIC, Mr. Kramer is entitled to a lump sum payment equal to 3
      times such highest bonus.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a termination due to Disability, Mr. Kramer is entitled to receive a pro-rata bonus based on an assumed target bonus equal to 150% of his then current salary for the year in which such termination occurs. Because the assumed termination date occurs on the last date of the fiscal year, the bonus reflected above is his full assumed target bonus for the fiscal year. Such amount would
      be paid in a lump sum. Mr. Kramer may also be entitled to a pro-rata bonus in the event of a resignation for Good Reason or termination by the Company without Cause prior to or after a Change in Control; however, such bonus would only be payable to the extent that the applicable performance targets were attained and the Compensation Committee did not exercise its negative
      discretion to reduce such bonus. Accordingly, such bonus is not set forth in the table above. If Mr. Kramer&#146;s $3,500,000 bonus for fiscal year 2012 had been used in the calculation, the amount set forth above would have been $3,500,000.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a termination due to death, Disability, by Mr. Kramer for Good Reason or by the Company without Cause at any time, Mr. Kramer&#146;s unvested restricted stock awards will vest in full. The value provided above is calculated based on a value of $10.30 per share, the closing value of the Company&#146;s common stock as of the end of the fiscal year.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(5)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">The value of such benefits are determined based on the estimated cost of providing health benefits to Mr. Kramer and his eligible dependents for 18 months after Mr. Kramer&#146;s termination of employment due to Disability, by the Company without Cause or by Mr. Kramer for Good Reason.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(6)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">If Mr. Kramer&#146;s benefits and payments in respect of a resignation for Good Reason or a termination by the Company without Cause during the period from April 2, 2012 to December 31, 2012 would be subject to excise tax under section 4999 of the Code, but such benefits and payments are no more than 10% greater than the threshold under which no such excise tax would be payable,
      Mr. Kramer&#146;s benefits and payments in respect of such termination would be subject to cutback to eliminate any such excise tax. If Mr. Kramer&#146;s benefits and payments in respect of such termination would </FONT></P></TD>
  </TR>
</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">36</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;">&nbsp;</td>
  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &nbsp;</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
      <P><FONT style="font-family:serif; font-size:3.1mm; ">
      exceed by more than 10% the threshold under which no excise tax would be payable under section 4999 of the Code, Mr. Kramer would be entitled to a limited gross up for the portion of such excise tax solely attributable to the fact that the minimal fees Mr. Kramer received in calendar year 2007 when he served only as a non-employee director of Griffon would (pursuant to section
      280G of the Code and the regulations thereunder) be included in determining Mr. Kramer&#146;s five year average compensation and, therefore, the threshold below which no such excise tax would be payable. Mr. Kramer&#146;s payments and benefits in respect of a resignation for Good Reason or a termination by the Company without Cause occurring as of September 30, 2012 would exceed by
      more than 10% the threshold under which no excise tax would be payable under section 4999 of the Code. Accordingly, Mr. Kramer would be entitled to a limited gross up for any excise tax imposed upon such payments and benefits.</FONT>
</FONT></P></TD>
  </TR>
</TABLE>

<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><u style="border-bottom: 0.50pt black;;">Douglas J. Wetmore</u></B></FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:32.21%;"><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:10.97%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:13.16%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:16.57%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:16.57%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD align="center" style="border-bottom:solid 0.2mm Black; ">
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; "><B>Benefit</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Termination<br>Due to Death</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Termination Due<br>to Disability</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Resignation for Good<br>Reason or<br>Termination by the<br>Company Without<br>Cause Prior to a<br>Change in Control</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Resignation for Good<br>Reason or<br>Termination by the<br>Company Without<br>Cause After a<br>Change in Control</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Salary</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       285,450</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (1)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       856,350</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (2)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       1,427,250</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (3)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Bonus</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       428,175</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (4)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       2,062,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (5)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Pro-Rata Bonus</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       428,175</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (6)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       428,175</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (6)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       650,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (7)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Accelerated Restricted Stock Vesting</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       2,251,558</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (8)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       3,759,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (9)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       3,759,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (9)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Value of health benefits provided after termination</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       9,640</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (10)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       28,491</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (11)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       42,264</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (12)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Modified 280G Cutback</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (13)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; "><B>Totals</B></FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 1.33pc;">&nbsp;</font>428,175</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 1.33pc;">&nbsp;</font>2,974,823</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 2.17pc;">&nbsp;</font>5,072,516</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 1.67pc;">&nbsp;</font>7,941,514</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      Upon a termination due to Disability, Mr. Wetmore is entitled to 6 month&#146;s salary continuation, payable in six monthly installments.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a resignation for Good Reason or a termination by the Company without Cause, in each case, other than within 24 months after a Change in Control, Mr. Wetmore is entitled to 18 month&#146;s salary continuation, payable in 18 monthly installments</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a resignation for Good Reason or a termination by the Company without Cause, in each case, within 24 months after a Change in Control, Mr. Wetmore is entitled to a lump sum payment equal to 2.5 times base salary.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon resignation for Good Reason or termination by the Company without Cause, in each case other than within 24 months after a Change in Control of the Company, Mr. Wetmore will receive a lump sum payment equal to the greater of the bonus he would otherwise have been paid for the year in which the assumed termination date occurs and his target bonus. Mr. Wetmore would
      only receive a bonus in the year of termination to the extent that the applicable performance targets were attained and the Compensation Committee did not exercise its negative discretion to reduce such bonus. Accordingly, the amount set forth above is based only on Mr. Wetmore&#146;s target bonus, which is the minimum bonus he could receive under the circumstances. If Mr. Wetmore&#146;s
      $650,000 bonus for fiscal year 2012 had been used in the calculation, the amount set forth above would have been $650,000.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(5)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control of the Company, Mr. Wetmore is entitled to a lump sum payment equal to 2.5 times the average of the three bonuses Mr. Wetmore received in the three years prior to his assumed termination date (but disregarding any years prior to fiscal 2010).</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(6)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a termination due to death or Disability, Mr. Wetmore is entitled to receive a pro-rata bonus based on his target bonus for the year in which such termination occurs. Because the assumed termination date occurs on the last date of the fiscal year, the bonus reflected above is his full target bonus for the fiscal year. Such amount would be paid in a lump sum.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>
</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">37</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">


  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(7)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a termination within 24 months after a Change in Control by Mr. Wetmore for Good Reason or by the Company without Cause, Mr. Wetmore is entitled to receive a pro-rata bonus based on the higher of Mr. Wetmore&#146;s target bonus for the year in which such termination occurs or the bonus earned for the preceding fiscal year. Because Mr. Wetmore&#146;s bonus for the preceding
      fiscal year exceeds his target bonus for the year in which such termination occurs and because the assumed termination date occurs on the last date of the fiscal year, the bonus reflected above is the full amount of Mr. Wetmore&#146;s bonus for the preceding fiscal year. Such amount would be paid in a lump sum.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(8)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a termination due to Disability, with respect to each grant of restricted stock Mr. Wetmore will receive accelerated vesting of that portion of his award based on a fraction the numerator of which is equal to the number of days worked by Mr. Wetmore commencing on the date of grant and ending on his assumed termination date (September 30, 2012), and the denominator of
      which is equal to the total number of days included in the applicable vesting period. The value provided above is calculated based on a value of $10.30 per share, the closing value of the Company&#146;s common stock as of the end of the fiscal year.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(9)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a resignation for Good Reason or a termination by the Company without Cause at any time, Mr. Wetmore&#146;s unvested restricted stock awards will vest in full. The value provided above is calculated based on a value of $10.30 per share, the closing value of the Company&#146;s common stock as of the end of the fiscal year.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(10)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">The value of these benefits is determined based on the total estimated cost of providing health benefits to Mr. Wetmore and his eligible dependents for six months following his termination of employment due to Disability.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(11)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">The value of these benefits is determined based on the total estimated cost of providing health benefits to Mr. Wetmore and his eligible dependents for eighteen months following his resignation for Good Reason or termination by the Company without Cause, in each case, other than within 24 months after a Change in Control.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(12)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control, the Company will continue to pay the employer portion of continuing health coverage for Mr. Wetmore and his eligible dependents (in an amount which the Company would generally pay to similarly situated employees) until the earlier of the end
      of the calendar year following the second year after termination of employment and Mr. Wetmore&#146;s commencing employment with another employer. For purposes of this table, it is assumed that the Company will continue paying the employer portion of the applicable premiums until December 31, 2014.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(13)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Mr. Wetmore&#146;s benefits and payments are subject to a modified cutback to eliminate any excise tax payable under section 4999 of the Code if the net after-tax amount (taking into account all applicable taxes payable by Mr. Wetmore) that Mr. Wetmore would receive with respect to such payments or benefits does not exceed the net-after tax amount Mr. Wetmore would receive if the
      amount of such payment and benefits were reduced to the maximum amount which could otherwise be payable to Mr. Wetmore without the imposition of the excise tax. In respect of a termination occurring as of September&nbsp;30, 2012, Mr. Wetmore receives a greater benefit by paying the excise tax. Accordingly, no cut-back would be imposed.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>

</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">38</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><u style="border-bottom: 0.50pt black;;">Patrick L. Alesia</u></B></FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:32.99%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:10.09%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:14.14%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:15.02%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:17.23%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD align="center" style="border-bottom:solid 0.2mm Black; ">
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; "><B>Benefit</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Termination<br>Due to<br>Disability or<br>Death</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Resignation for<br>Good Reason<br>Prior to a Change<br>in Control</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Termination by the<br>Company Without<br>Cause Prior to a<br>Change in Control</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Resignation for Good<br>Reason or<br>Termination by the<br>Company Without<br>Cause After a Change<br>in Control</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Salary (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       1,112,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Bonus (2)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       466,250</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Pro-Rata Bonus (3)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       222,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Accelerated Restricted Stock Vesting</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       257,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (4)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       669,500</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (5)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Value of accelerated SERP Payment (6)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Value of health benefits provided after termination (7)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       45,519</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">280G Cutback</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (271,377</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       )(8)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; "><B>Totals</B></FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 1.00pc;">&nbsp;</font>257,500</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 4.25pc;">&nbsp;</font>0</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 4.67pc;">&nbsp;</font>0</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 2.17pc;">&nbsp;</font>2,244,892</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      Upon a resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control, Mr. Alesia is entitled to a lump sum payment equal to 2.5 times his base salary at the rate which is the higher of the (then) current annual rate or the annual rate in effect immediately prior to the date of the Change in Control.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control, Mr. Alesia is entitled to a lump sum payment equal to 2.5 times the average of the annual bonus he received for each of the Company&#146;s last three fiscal years. If the bonus awarded after September 30, 2012 in the amount of $125,000 were used
      in the calculation, the bonus component amount would have been $389,583.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control, Mr. Alesia is entitled to receive a pro-rata bonus based on the greater of Mr. Alesia&#146;s target bonus for the year in which such termination occurs or the bonus earned for the preceding fiscal year. Because the assumed termination date occurs on
      the last day of the fiscal year, the bonus reflected above is equal to the full value of Mr. Alesia&#146;s target bonus for the fiscal year of termination. Such amount would be paid in a lump sum.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon Mr. Alesia&#146;s termination due to death or Disability, the restricted stock award granted to Mr. Alesia on May 8, 2008 will vest in full. The value provided above is calculated based on a value of $10.30 per share, the closing value of the Company&#146;s common stock as of the end of the fiscal year.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(5)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon a resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control, all of Mr. Alesia&#146;s unvested restricted stock awards will vest in full. The value provided above is calculated based on a value of $10.30 per share, the closing value of the Company&#146;s common stock as of the end of the fiscal year.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(6)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Mr. Alesia is fully vested in his SERP benefit and would not receive any increase in his current SERP benefits upon any termination of employment. Please see the Pension Benefit table above for the amount of the SERP benefit payable to Mr. Alesia.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(7)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control, the Company will continue to pay the employer portion of continuing health coverage for Mr. Alesia and his eligible dependents (in an amount which the Company would generally pay to similarly situated employees) until the earlier of the end of
      the calendar year following the second year after termination of employment and Mr. Alesia&#146;s commencing employment with another employer. For purposes of this table, it is assumed that the Company will continue paying the employer portion of the applicable premiums until December 31, 2014.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(8)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Mr. Alesia&#146;s benefits and payments upon a resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change are subject to cutback to eliminate any excise tax payable under section 4999 of the Code. Mr. Alesia&#146;s benefits and payments would exceed the threshold under section 280G of the Code by an amount of $271,377;
      accordingly, a cutback in this amount would be imposed.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>

</TABLE>


<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">39</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B><u style="border-bottom: 0.50pt black;;">Seth L. Kaplan</u></B></FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="bottom">
    <TD style="width:32.19%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:10.32%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:13.16%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:16.57%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:17.23%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD align="center" style="border-bottom:solid 0.2mm Black; ">
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; "><B>Benefit</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Termination<br>Due to Death</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Termination Due<br>to Disability</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Resignation for Good<br>Reason or<br>Termination by the<br>Company Without<br>Cause Prior to a<br>Change in Control</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      Resignation for Good<br>Reason or<br>Termination by the<br>Company Without<br>Cause After a Change<br>in Control</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Salary</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       166,080</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (1)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       498,240</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (2)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       830,400</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (3)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Bonus</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       166,080</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (4)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       466,423</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (5)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Pro-Rata Bonus</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       166,080</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (6)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       166,080</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (6)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       166,080</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (7)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Accelerated Restricted Stock Vesting</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       224,660</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (8)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       412,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (9)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       1,030,000</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (9)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Value of health benefits provided after termination</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       9,640</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (10)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       28,491</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (11)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      $</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
       42,264</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
       (12)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; ">Modified 280G Cutback</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      &#151;</FONT></P></TD>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (13)</FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD width="3"><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
    <TD colspan="6" style="border-top:solid 0.2mm Black; "><P><font style="font-size:0.2mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-2.8mm; margin:0 0 0 2.8mm; "><FONT style="font-family:serif; font-size:3.1mm; "><B>Totals</B></FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 1.00pc;">&nbsp;</font>166,080</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 1.67pc;">&nbsp;</font>586,460</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 2.17pc;">&nbsp;</font>1,104,811</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
      $</B></FONT></P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; "><B>
        <font style="word-spacing: 2.17pc;">&nbsp;</font>2,535,167</B></FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
</TABLE>



<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      Upon a termination due to Disability, Mr. Kaplan is entitled to 6 month&#146;s salary continuation, payable in six monthly installments.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Mr. Kaplan is entitled to continuation of base salary for 18 months following his resignation for Good Reason or termination by the Company without Cause, in each case, other than within 24 months after a Change in Control. The base salary component of severance will be paid in 18 equal monthly installments.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Mr. Kaplan is entitled to a lump sum payment equal to 2.5 times base salary upon his resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(4)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon resignation for Good Reason or termination by the Company without Cause, in each case, other than within 24 months after a Change in Control of the Company, Mr. Kaplan will receive a lump sum payment equal to the greater of the bonus he would otherwise have been paid for the year of such termination and his target bonus. The amount of the bonus, if any, Mr. Kaplan
      would receive in the year of such termination is subject to the discretion of the Compensation Committee. Accordingly, the amount set forth above is based only on Mr. Kaplan&#146;s target bonus, which is the minimum bonus he could receive under the circumstances. If Mr. Kaplan&#146;s $225,000 bonus for fiscal year 2012 had been used in the calculation, the amount set forth above would
      have been $225,000.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(5)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months following a Change in Control, Mr. Kaplan is entitled to a lump sum payment equal to 2.5 times the average annual bonuses paid to him in the three-year period immediately prior to such termination or his target bonus until the executive has received an annual bonus. The
      value set forth herein is calculated based on the average of his annual bonus for fiscal year 2011 and his annualized bonus for fiscal year 2010. If the bonus awarded after September 30, 2012 in the amount of $225,000 were also used in the calculation, the amount set forth above would have been $498,449.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(6)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon termination due to death or Disability, Mr. Kaplan is entitled to receive a pro-rata bonus based on his target bonus for the year in which such termination occurs. Because the assumed termination date occurs on the last date of the fiscal year, the bonus reflected above is his full target bonus for the fiscal year. Such amount would be paid in a lump sum.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(7)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control, Mr. Kaplan is entitled to receive a pro-rata bonus based on the greater of Mr. Kaplan&#146;s target bonus for the year in which such termination occurs or the bonus earned for the preceding fiscal year. Because the assumed termination date occurs on
      the last date of the fiscal year, the bonus reflected above is his full target bonus for the fiscal year. Such amount would be paid in a lump sum.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(8)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(8) Upon termination due to Disability, Mr. Kaplan will receive accelerated vesting of his May 17, 2010 restricted stock award in a ratio equal to the number of days worked by Mr. Kaplan commencing on the date of the grant through his assumed termination date (September 30, 2012) over 1460.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>
</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">40</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">


  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(9)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon resignation for Good Reason or a termination by the Company without Cause other than within 24 months after a Change in Control, Mr. Kaplan&#146;s May 17, 2010 restricted stock award will vest in full. Upon resignation for Good Reason or a termination by the Company without Cause within 24 months after a Change in Control, all of Mr. Kaplan&#146;s unvested restricted stock awards
      will vest in full. In each case, the amount was calculated based on a value of $10.30 per share, the closing value of the Company&#146;s common stock as of the end of the fiscal year.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(10)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">The value of these benefits is determined based on the estimated cost of providing health benefits to Mr. Kaplan and his eligible dependents for six months following his termination of employment due to Disability.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(11)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">The value of these benefits is determined based on the estimated cost of providing health benefits to Mr. Kaplan and his eligible dependents for eighteen months following his resignation for Good Reason or termination by the Company without Cause, in each case, other than within 24 months after a Change in Control.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(12)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Upon resignation for Good Reason or termination by the Company without Cause, in each case, within 24 months after a Change in Control, the Company will continue to provide coverage under the Company&#146;s medical and health plans for Mr. Kaplan until December 31 of the second calendar year following the year of his termination.</FONT></P></TD>
  </TR>
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(13)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Mr. Kaplan&#146;s benefits and payments are subject to a modified cutback to eliminate any excise tax payable under section 4999 of the Code if the net-after tax amount (taking into account all applicable taxes payable by Mr. Kaplan) that Mr. Kaplan would receive with respect to such payments or benefits does not exceed the net-after tax amount Mr. Kaplan would receive if the amount of
      such payment and benefits were reduced to the maximum amount which could otherwise be paid to Kaplan without the imposition of the excise tax. In respect of a termination occurring as of September 30, 2012, Mr. Kaplan receives a greater benefit by paying the excise tax. Accordingly, no cut-back would be imposed.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>

</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">41</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Directors&#146; Compensation</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Directors who are not our employees receive an annual retainer fee of $40,000 and a fee of $1,500 for each Board of Directors meeting attended. Audit Committee members receive $2,500 for each committee meeting attended and members of each other committee receive $1,500 for each committee meeting attended.
  For any committee meetings that are held telephonically and last less than thirty minutes, the fee is reduced to $750. Our lead independent director, as well as the chair of each of our audit committee and compensation committee, receives an additional $10,000 per annum. Our Non-Executive Chairman of the Board receives
  an additional $75,000 per annum.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Each non-employee director receives, at the time of the annual meeting of stockholders each year, a grant of 2,500 restricted shares of our common stock, which shares vest over a period of three years in equal annual installments.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our stock ownership guidelines, which are described above, apply to our directors in the same manner as they apply to our executive officers. Each director is expected to acquire, within three years of the adoption of the guidelines or joining the Board (whichever is later), shares of common stock equal in value to
  three times the annual retainer fee. Under these guidelines, each of our directors either holds shares with a value greater than the applicable target dollar value, or we believe will own such amount of shares within the specified three year period.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The table below summarizes the compensation paid by the Company to non-employee directors for the fiscal year ended September 30, 2012.</FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Fiscal 2012 Directors&#146; Compensation</B></FONT></P>
<table cellspacing="0" style="margin-left:8.77%;margin-right:0.00%;width:91.23%;" >
<TR valign="bottom">
    <TD style="width:40.25%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:12.53%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.29%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:13.50%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:7.13%;" colspan="6"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>
  <TR valign="bottom" style="font-size:0.2mm">
    <TD style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Name</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Fees Earned<br>or<br>Paid in Cash<br>($)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Stock<br>Awards<br>($)(2)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      All Other<br>Compensation<br>($)(3)</B></FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="6" align="center" style="border-bottom:solid 0.2mm Black; "><P><FONT style="font-family:serif; font-size:3.8mm; "><B>
      Total<br>($)</B></FONT></P></TD>
  </TR>


  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Henry A. Alpert</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      66,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      91,425</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Bertrand M. Bell</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      56,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      81,425</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Harvey R. Blau</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      121,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      839,622</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      985,547</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Gerald J. Cardinale</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      46,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      70,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Blaine V. Fogg</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      49,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      73,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Bradley J. Gross</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      46,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      70,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Rear Admiral Robert G. Harrison</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      56,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      81,425</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">General Donald J. Kutyna</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      46,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      70,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">James A. Mitarotonda(1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      1,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      1,500</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Martin S. Sussman</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      69,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      93,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom" bgcolor="#e5ffff">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">William H. Waldorf</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      66,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      90,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
  <TR valign="bottom">
    <TD>
    <P style="text-indent:-3.5mm; margin:0 0 0 3.5mm; "><FONT style="font-family:serif; font-size:3.8mm; ">Joseph J. Whalen</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      59,000</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      24,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      &#151;</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD colspan="2">&nbsp;</TD>
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.8mm; ">
      83,925</FONT></P></TD>
    <TD colspan="2">&nbsp;</TD>
  </TR>
</TABLE>

<P style="text-indent:13.4mm; margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "><hr noshade="noshade" color="k" align="left" style="width:8.50pc; height:0.50pt;;"></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 -6.9mm; "><FONT style="font-family:serif; font-size:3.1mm; ">&nbsp;</FONT></P>
<TABLE cellspacing=0 cellpadding=0 style="margin-left:0.00pc;font-size:0.2mm;">
  <TR valign="top">
    <TD style="width:54pt;"><p style="margin-top:8pt;">&nbsp;</p></td>

  </TR>
  <TR valign="top">
    <TD align="right"><P><FONT style="font-family:serif; font-size:3.1mm; ">
      (1)</FONT></P></TD>
    <TD width="3"><p style="font-size:0.2mm">&nbsp;</P></TD>
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17"><FONT style="font-family:serif; font-size:3.1mm; ">
      Mr. Mitarotonda did not stand for re-election to the Board of Directors at the Annual Meeting of Stockholders held on January 31, 2012.</FONT>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
  </TR>
</TABLE>

<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">42</FONT></P>
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    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(2)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Represents the aggregate grant date fair value of shares of restricted stock granted to the director during the applicable fiscal year, computed in accordance with FASB ASC Topic 718. The amounts in this column do not correspond to the actual value that will be realized by the director. For information regarding the assumptions made in calculating these amounts, see Note 13,
      &#147;Stockholders&#146; Equity and Equity Compensation,&#148; to the consolidated financial statements, and the discussion under the heading &#147;ACCOUNTING POLICIES AND PRONOUNCEMENTS&#151;Stock-Based Compensation&#148; in Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations, each included in our Annual Report on Form&nbsp;10-K for the year ended September
      30, 2012.</FONT></P></TD>
  </TR>
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    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

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    <TD align="right">
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">The number of outstanding shares of restricted stock held by each non-employee director other than Mr. Blau as of September 30, 2012 was 4,438. As of September 30, 2012, Mr. Blau had outstanding 64,438 shares of restricted stock (however for information regarding restricted shares and options outstanding and held by Mr. Blau related to grants issued to him during his tenure as
      Chief Executive Officer, see &#147;STOCK OWNERSHIP&#148; above). Mr. Mitarotonda has not served as a director on our Board since January 31, 2012 and does not hold any shares of restricted stock.</FONT></P></TD>
  </TR>
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    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

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  <TR valign="top">
    <TD align="right">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">(3)</FONT></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Mr. Blau is party to an agreement with the Company, dated July 1, 2001, pursuant to which Mr. Blau is obligated to consult with us and our senior executive officers regarding our businesses and operations. The consulting period was originally for a five year period expiring March 31, 2013. On February 3, 2011, we entered into an amendment with Mr. Blau that extended his consulting
      period to April 1, 2016. In return for such consulting services, Mr. Blau earns an annual consulting fee equal to two-thirds of his salary at the time of his retirement from his position as Chief Executive Officer of the Company (adjusted periodically for cost of living increases). During the consulting period Mr. Blau is entitled to the continuation of certain benefits he received as chief
      executive officer. Accordingly, the table above reflects the following: (a) a consulting fee of $654,633; (b) expenses related to automobile use in the amount of $62,415, which includes an amount allocated to reflect the personal use by Mr. Blau of a car and driver provided by the Company for transport to and from business appointments; (c) club dues in the amount of $32,471; (d)
      $62,995 paid by us for supplemental health insurance and medical reimbursements and services; (e) $24,893 paid by us for a term life insurance policy on Mr. Blau; and (f) Company contributions in the amounts of $2,215 allocated under our ESOP as a result of dividends paid on shares previously allocated to Mr. Blau under the ESOP. We continue to maintain certain endorsement
      split-dollar life insurance policies for the benefit of Mr. Blau and Griffon, and accordingly paid related premiums of $155,120 during fiscal year 2012; at such time as benefits are paid under the split-dollar life policies, Griffon is entitled to receive payment of an amount equal to the premiums paid by Griffon over the life of the policies. Under the July 1, 2001 agreement we also have
      an obligation to provide an insurance death benefit to Mr. Blau in the amount of $5 million, and we maintain certain insurance policies on Mr. Blau&#146;s life, of which Griffon is the owner and beneficiary, as a means to satisfy this obligation; the cost of maintaining these policies during fiscal 2012 was $318,574, which we satisfied through a reduction in cash surrender value of these
      insurance policies.</FONT></P></TD>
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    <TD style="width:54pt;"><p style="margin-top:0pt;">&nbsp;</p></td>

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    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
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    <TD>
    <P style="margin:2.1mm 0 0; "><font style="font-size:0.2mm">&nbsp;</font></P></TD>
    <TD width="3">&nbsp;</TD>
    <TD colspan="17">
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; ">Mr. Blau also participates in a group life policy maintained by us; the allocated cost for Mr. Blau is $768 for fiscal year 2012. In addition, each of Messrs. Alpert, Bell, Fogg, Harrison, Kutyna, Sussman, Waldorf and Whalen participate in group life and accidental death and dismemberment policies maintained by us. We pay the group premiums; the total allocated cost for each such
      individual is less than $2,000 per year.</FONT></P>
    <P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.1mm; "></FONT></P></TD>
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<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">43</FONT></P>
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<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>PROPOSAL 2&#151;ADVISORY VOTE REGARDING EXECUTIVE COMPENSATION</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 enables our stockholders to vote to approve, on an advisory (nonbinding) basis, the compensation of our named executive officers as disclosed in this proxy statement in accordance with applicable SEC rules.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our compensation programs are designed to enable us to attract, motivate, reward and retain the management talent required to achieve corporate objectives, and thereby increase stockholder value. It is our policy to provide incentives to senior management to achieve both short-term and long-term objectives, to
  reward exceptional performance and contributions to the development of our businesses and to motivate our senior executives to balance risk and reward in the management of our businesses. Please see the section &#147;Compensation Discussion and Analysis&#148; and the related compensation tables above for additional details about
  our executive compensation programs, including information about the fiscal year 2012 compensation of our named executive officers.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We are asking our stockholders to indicate their support for our named executive officer compensation as described in this proxy statement. This proposal, commonly known as a &#147;say-on-pay&#148; proposal, gives our stockholders the opportunity to express their views on our named executive officers&#146; compensation. We
  currently conduct an advisory vote on the compensation of our named executives annually and the next such stockholder advisory vote after our 2013 Annual Meeting will take place at our 2014 Annual Meeting. This vote is not intended to address any specific item of compensation, but rather the overall compensation of our
  named executive officers and the philosophy, policies and practices described in this proxy statement. Accordingly, we will ask our stockholders to vote &#147;FOR&#148; the following resolution at the Annual Meeting:</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">&#147;<B>RESOLVED</B>, that the Company&#146;s stockholders approve, on an advisory basis, the compensation of the named executive officers, as disclosed in the Company&#146;s Proxy Statement for the 2013 Annual Meeting of Stockholders pursuant to the compensation disclosure rules of the Securities and Exchange Commission.&#148;</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The say-on-pay vote is advisory, and therefore not binding on the Company, the Compensation Committee or our Board of Directors. Our Board of Directors and our Compensation Committee value the opinions of our stockholders and to the extent there is any significant vote against the named executive officer
  compensation as disclosed in this proxy statement, we will consider the results of the vote in future compensation deliberations.</FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>OUR BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE FOR<br>THE RESOLUTION APPROVING THE COMPENSATION OF OUR EXECUTIVE<br>OFFICERS AS DISCLOSED IN THIS PROXY STATEMENT</B></FONT></P>
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<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>AUDIT COMMITTEE REPORT</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">As required by its written charter, which sets forth its responsibilities and duties, the Audit Committee reviewed and discussed with management our audited financial statements as of and for the year ended September 30, 2012.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Audit Committee reviewed and discussed with representatives of Grant Thornton LLP, our independent registered public accounting firm, the matters required to be discussed by the Statement on Auditing Standards No. 114 (Codification of Statements on Auditing Standards, AU &sect;380), which supersedes Statement
  on Auditing Standards No. 61. The Audit Committee has also received and reviewed the written disclosures and the letter from Grant Thornton LLP required by applicable requirements of the Public Company Accounting Oversight Board regarding Grant Thornton LLP&#146;s communications with the Audit Committee concerning
  independence, and has discussed with Grant Thornton LLP its independence.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Based on these reviews and discussions, the Audit Committee recommended to the Board of Directors that the financial statements referred to above be included in our Annual Report on Form 10-K for the year ended September 30, 2012 for filing with the Securities and Exchange Commission.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Audit Committee has also reviewed and discussed the fees paid to Grant Thornton LLP during the last fiscal year for audit and non-audit services, which are set forth below under &#147;Audit and Related Fees&#148; and has considered whether the provision of the non-audit services is compatible with maintaining Grant
  Thornton LLP&#146;s independence and concluded that it is.</FONT></P>
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    <TD style="width:48.68%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:48.68%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
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    <TD><P><FONT style="font-family:serif; font-size:3.8mm; "><B><I>
      The Audit Committee</I></B><br>William H. Waldorf (Chairman)<br>Martin S. Sussman<br>Joseph J. Whalen</FONT></P></TD>
  </TR>
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<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">45</FONT></P>
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<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>PROPOSAL 3&#151;RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We are asking the stockholders to ratify the Audit Committee&#146;s appointment of Grant Thornton LLP as our independent registered public accounting firm for the fiscal year ending September 30, 2013. The Audit Committee is directly responsible for appointing the Company&#146;s independent registered public accounting
  firm. The Audit Committee is not bound by the outcome of this vote but will consider these voting results when selecting the Company&#146;s independent registered public accounting firm for the fiscal year ending September 30, 2013.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Grant Thornton LLP has audited our financial statements annually since 2006. A representative of Grant Thornton LLP is expected to be present at the Annual Meeting. The representative will have an opportunity to make a statement if he desires to do so and will be available to answer appropriate questions from
  stockholders.</FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>AUDIT AND RELATED FEES</B></FONT></P>
<P style="margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Audit Fees</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We were billed by Grant Thornton LLP the aggregate amount of approximately $2,392,000 in respect of fiscal 2012 and $2,525,000 in respect of fiscal 2011 for fees for professional services rendered for the audit of our annual financial statements and internal controls in compliance with Section 404 of the Sarbanes-
  Oxley Act of 2002 and review of our financial statements included in our Forms 10-K and 10-Q and other Registration Statement filings with the SEC.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Audit-Related Fees</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We were billed by Grant Thornton LLP the aggregate amount of approximately $32,000 in respect of fiscal 2012 and $115,000 in respect of fiscal 2011 for assurance and related services that are reasonably related to the performance of the audit or review of our financial statements and which are not included in the
  amounts listed above under &#147;Audit Fees.&#148; In fiscal 2012, such amounts related primarily to updating our shelf registrations, and in fiscal 2011 such amounts related to the audit or review of our financial statements in connection with business acquisition and divestiture activities.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Tax Fees</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Grant Thornton LLP did not bill us any fees for tax-related services in respect of fiscal 2012. We were billed by Grant Thornton LLP the aggregate amount of approximately $25,000 in respect of fiscal 2011 for tax-related services incurred in connection with the acquisition of Ames True Temper.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>All Other Fees</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We were not billed by Grant Thornton LLP for any other services in fiscal 2012 or 2011 not described in the preceding paragraphs.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our Audit Committee has determined that the services provided by Grant Thornton LLP are compatible with maintaining the independence of Grant Thornton LLP as our independent registered public accounting firm.</FONT></P>
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<P style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Pre-Approval Policy</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Our Audit Committee has adopted a statement of principles with respect to the pre-approval of services provided by the independent registered public accounting firm. In accordance with the statement of principles, the Audit Committee determined that all non-prohibited services to be provided by the independent
  registered public accounting firm are to be approved in advance pursuant to a proposal from such independent registered public accounting firm and a request by management for approval.</FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>OUR BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE IN FAVOR OF<br>THE RATIFICATION OF THE SELECTION OF GRANT THORNTON LLP AS<br>OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</B></FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">47</FONT></P>
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<P align="center" style="margin:1.4mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">We do not have a written policy for review and approval of related party transactions required to be disclosed pursuant to Item 404(a) of Regulation S-K. However, our practice is that any such transaction be reviewed and approved by the Board of Directors or the Audit Committee, which consists entirely of
  independent directors.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">As described above under &#147;Election of Directors,&#148; GS Direct, an affiliate of Goldman Sachs, holds 10,000,000 shares of Griffon common stock that it acquired pursuant to the Investment Agreement in connection with the closing of a common stock rights offering by Griffon in September 2008. Based on GS Direct&#146;s
  current ownership level, which represents 16.5% of Griffon&#146;s outstanding common stock, GS Direct is entitled to designate two people to serve on Griffon&#146;s Board. It is our understanding that Mr. Gerald J. Cardinale, a designee of GS Direct, is retiring from Goldman Sachs effective December 31, 2012.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Investment Agreement provides that, as long as GS Direct is entitled to nominate at least one individual to serve on Griffon&#146;s Board of Directors, Griffon will maintain a finance committee consisting of five members. Two of these members will be directors that were nominated by GS Direct (unless GS Direct is
  entitled to nominate only one person to serve on Griffon&#146;s Board, in which case that one person will serve on the finance committee). The authority and responsibilities of the finance committee are set forth in the Investment Agreement, and are reflected in the current charter of the finance committee.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Investment Agreement also provides that, so long as GS Direct owns 10% or more of Griffon&#146;s total common equity, subject to certain exceptions, GS Direct may not acquire additional shares, or rights or options to acquire additional shares, of Griffon common stock. However, if GS Direct&#146;s ownership
  percentage of Griffon common stock decreases as a result of an issuance of voting stock by Griffon, GS Direct can, subject to certain exceptions, acquire in the secondary market additional shares of Griffon&#146;s common stock in order to maintain its ownership percentage. In addition, so long as GS Direct owns 10% or more of
  Griffon&#146;s total common equity, subject to certain exceptions, GS Direct has agreed not to sell or transfer any of its shares of Griffon common stock except (i) to its affiliates, (ii) to persons that will own, after such transfer, less than 10% of Griffon&#146;s voting stock, or (iii) pursuant to registered underwritten offerings.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The restrictions above will not prohibit GS Direct from making an acquisition proposal directly to Griffon&#146;s Board so long as (i) in the event that Griffon&#146;s Board then determines to commence a process with respect to a potential acquisition proposal, Griffon shall permit GS Direct to participate in the process and (2)
  if the Board determines to accept and recommend a proposal from a party other than GS Direct that it believes is superior, GS Direct votes its shares with respect to such alternative proposal in the same proportion as all other shares are voted on such proposal.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Griffon also provided certain customary registration rights to GS Direct with respect to the shares of Griffon common stock it acquired in connection with the Investment Agreement.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">A copy of the Investment Agreement is included as an exhibit to the Current Report on Form 8-K filed with the SEC on August 13, 2008, which is available from the SEC at its website at <u style="border-bottom: 0.50pt black;;">www.sec.gov.</u></FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">48</FONT></P>
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<P align="center" style="margin:4.2mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>FINANCIAL STATEMENTS</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">A copy of our Annual Report to Stockholders, including financial statements, for the fiscal year ended September 30, 2012 has been made available to all stockholders as of the Record Date. Stockholders are referred to the report for financial and other information about us, but such report is not incorporated in this
  proxy statement and is not a part of the proxy soliciting material.</FONT></P>
<P align="center" style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>MISCELLANEOUS INFORMATION</B></FONT></P>
<P style="margin:3.5mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Section 16(a) Beneficial Ownership Reporting Compliance</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Section 16(a) of the Exchange Act, as amended, requires our executive officers, directors and persons who own more than ten percent of a registered class of our equity securities (&#147;Reporting Persons&#148;) to file reports of ownership and changes in ownership on Forms 3, 4 and 5 with the Securities and Exchange
  Commission and the New York Stock Exchange. These Reporting Persons are required by SEC regulation to furnish us with copies of all Forms 3, 4 and 5 they file with the SEC and The New York Stock Exchange. Based solely upon our review of copies of the forms furnished to us and representations that no other reports
  were required, we believe that all Reporting Persons complied on a timely basis with all filing requirements applicable to them with respect to transactions during fiscal year 2012.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Matters to be Considered at the Meeting</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The Board of Directors does not intend to present to the meeting any matters not referred to in the form of proxy. If any proposal not set forth in this Proxy Statement should be presented for action at the meeting, and is a matter which should come before the meeting, it is intended that the shares represented by
  proxies will be voted with respect to such matters in accordance with the judgment of the persons voting them.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Cost of Solicitation</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">The cost of soliciting proxies in the accompanying form, which we estimate to be $50,000, will be paid by us. In addition to solicitations by mail, arrangements may be made with brokerage houses and other custodians, nominees and fiduciaries to send proxy materials to their principals, and we may reimburse them
  for their expenses in so doing. To the extent necessary in order to assure sufficient representation, our officers and regular employees may request the return of proxies personally, by telephone or other means. The extent to which this will be necessary depends entirely upon how promptly proxies are received, and stockholders
  are urged to submit their proxies without delay.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Delivery of Documents to Stockholders Sharing an Address</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">If you are the beneficial owner, but not the record holder, of shares of Griffon stock, your broker, bank or other nominee may deliver only one copy of the Notice of Internet Availability of Proxy Materials (and this Proxy Statement and our 2012 Annual Report, if you have elected to receive paper copies) to
  multiple stockholders who share an address, unless that nominee has received contrary instructions from one or more of the stockholders. We will deliver promptly, upon written or oral request, a separate copy of the Notice of Internet Availability of Proxy Materials (and of this Proxy Statement and our 2012 Annual Report,
  if applicable) to a stockholder at a shared address to which a single copy of the documents was delivered. A stockholder who wishes to receive a separate copy of the proxy statement and annual report, </FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">49</FONT></P>
<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">
<PAGE>
<P><FONT style="font-family:serif; font-size:3.8mm; ">now or in the future, should submit this request in writing to American Stock Transfer and Trust Company, Proxy Fulfillment Services, 6201 15th Avenue, Brooklyn, NY 11219, or by calling (888) 776-9962. Beneficial owners sharing an address who are receiving multiple copies of proxy materials and who wish to receive a
  single copy of such materials in the future will need to contact their broker, bank or other nominee to request that only a single copy of each document be mailed to all shareowners at the shared address in the future.</FONT></P>
<P style="margin:6.3mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>Deadline for Submission of Stockholder Proposals for the 2014 Annual Meeting</B></FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Proposals of stockholders intended to be presented at the 2014 Annual Meeting of Stockholders pursuant to SEC Rule 14a-8 must be received at our principal office not later than August 12, 2013 to be included in the proxy statement for that meeting.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">In addition, our by-laws require that we be given advance notice of stockholder nominations for election to the Board of Directors and of other matters which stockholders wish to present for action at an annual meeting of stockholders. The required notice must be delivered to the Secretary of the Company at our
  principal offices not less than 90 days and not more than 120 days prior to the anniversary date of the immediately preceding annual meeting of stockholders. These requirements are separate from and in addition to the SEC requirements that a stockholder must meet in order to have a stockholder proposal included in our
  proxy statement.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Pursuant to our by-laws, if notice of any stockholder proposal is received after October 31, 2013, then the notice will be considered untimely and we are not required to present such proposal at the 2014 Annual Meeting. If the Board of Directors chooses to present a proposal submitted after October 31, 2013 at the
  2014 Annual Meeting, then the persons named in proxies solicited by the Board of Directors for the 2014 Annual Meeting may exercise discretionary voting power with respect to such proposal.</FONT></P>
<P style="text-indent:13.4mm; margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; "><B>We will provide without charge to any stockholder as of the record date copies of our Annual Report on Form 10-K, Corporate Governance Guidelines, Code of Business Conduct and Ethics and charters of any committee of the Board of Directors upon written request delivered to Seth L. Kaplan,
  Secretary, at our offices at 712 Fifth Avenue, 18th Floor, New York, New York 10019. These materials may also be found on our website at <u style="border-bottom: 0.50pt black;;">www.griffoncorp.com.</u></B></FONT></P>
<table cellspacing="0" style="margin-left:0.00%;margin-right:0.00%;width:100.00%;" >
<TR valign="top">
    <TD style="width:48.68%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:2.63%"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
    <TD style="width:48.68%;"><P><font style="font-size:0.6mm;">&nbsp;</font></P></TD>
  </TR>


  <TR valign="top">
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      By Order of the Board of Directors</FONT></P></TD>
  </TR>
  <TR valign="top">
    <td><P><font style="font-size:0.2mm">&nbsp;</font></P></td>
    <TD width="3">&nbsp;</TD>
    <TD><P><FONT style="font-family:serif; font-size:3.8mm; ">
      SETH L. KAPLAN<br>Senior Vice President, General Counsel<br>and Secretary</FONT></P></TD>
  </TR>
</TABLE>

<P style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">Dated: December 18, 2012<br>New York, New York</FONT></P>
<P align="center" style="margin:2.1mm 0 0; "><FONT style="font-family:serif; font-size:3.8mm; ">50</FONT></P>


<p><hr color=#000000 noshade></p>
<p style="page-break-before: always">

<PAGE>

<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="10%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="80%" VALIGN=TOP>
<P ALIGN=RIGHT>&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN=TOP>
<P ALIGN=RIGHT>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P ALIGN=RIGHT>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE="2"><B>&#143;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B> </FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP BGCOLOR=BLACK>
<P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<BR><BR>
<P ALIGN=CENTER><FONT SIZE=4 FACE=ARIAL><B>GRIFFON CORPORATION<BR><BR>
</B><FONT size=3 FACE=ARIAL><B>PROXY SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS<BR>
ANNUAL MEETING OF STOCKHOLDERS<BR>
January 30, 2013</B></FONT></FONT></P>

<P ALIGN=JUSTIFY><FONT SIZE=3 FACE=ARIAL><B>As an alternative to completing this form, you may enter your vote instruction by telephone
at 1-800-PROXIES, or via the Internet at WWW.VOTEPROXY.COM and follow the simple
instructions. Use the Company Number and Account Number shown on your proxy card.
</B></FONT></P>

<P ALIGN=JUSTIFY><FONT SIZE=3 FACE=ARIAL>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned hereby appoints RONALD J. KRAMER and SETH L. KAPLAN, or either of
them,  attorneys and Proxies with full power of substitution in each of them, in
the name and  stead of the  undersigned  to vote as Proxy  all the  stock of the
undersigned  in  GRIFFON  CORPORATION,  a  Delaware  corporation,  at the Annual
Meeting  of  Stockholders  scheduled  to be held on  January  30,  2013  and any
postponements or adjournments thereof.
</FONT></P>

<P ALIGN=JUSTIFY><FONT SIZE=3 FACE=ARIAL><B>THE SHARES REPRESENTED HEREBY SHALL BE VOTED BY PROXIES, OR ANY OF
THEM, AS SPECIFIED AND, IN THEIR DISCRETION, UPON SUCH OTHER MATTERS AS
MAY PROPERLY COME BEFORE THE MEETING. IF NO SPECIFICATION IS MADE, THE
SHARES WILL BE VOTED IN ACCORDANCE WITH THE RECOMMENDATIONS OF THE
BOARD OF DIRECTORS FOR PROPOSALS 1, 2 AND 3 AND IN THE DISCRETION OF
THE PROXYHOLDERS ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE
THE MEETING.</B></FONT></P>



<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="82%" VALIGN=TOP>
<P ALIGN=CENTER>&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="1%" VALIGN=TOP>
<P ALIGN=CENTER>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP BGCOLOR=BLACK>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN="CENTER"><FONT SIZE="3" FACE=ARIAL><B>(Continued and to be signed on the reverse side.)
</B> </FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=3 FACE=ARIAL>14475</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP BGCOLOR=BLACK>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>

<BR>
<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P ALIGN=LEFT STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>


<P ALIGN=CENTER><FONT SIZE=3 FACE=ARIAL><B>ANNUAL MEETING OF SHAREHOLDERS OF</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=6 FACE=ARIAL><B>
GRIFFON CORPORATION</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3 FACE=ARIAL><B>January 30, 2013</B></FONT></P>
<BR>
<P ALIGN=CENTER><FONT FACE="ARIAL" SIZE="2"><B><U>NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIAL</U>:</B><BR>
The Notice of Meeting, Proxy Statement, Proxy Card and Annual Report on Form 10-K<BR>are available at
http://www.amstock.com/ProxyServices/ViewMaterial.asp?CoNumber=03170 </FONT> </P>
<BR>
<P ALIGN=CENTER><FONT SIZE=5 FACE=ARIAL>Please sign, date and mail<BR>
your proxy card in the<BR>
envelope provided as soon<BR>
as possible.</FONT></P>
<BR><BR><BR><BR>
<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="35%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="30%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="35%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT FACE="WINGDINGS" SIZE="2"><B>&#226;</B> </FONT></P>
</TD>
<TD VALIGN=BOTTOM STYLE="PADDING:5PX" NOWRAP>
<P ALIGN=CENTER ><FONT SIZE=1 FACE=ARIAL>&nbsp;Please detach along perforated line and mail in the envelope provided.&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=left><FONT FACE="WINGDINGS" SIZE="2"><B>&#226;</B> </FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="1%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="63%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="34%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP BGCOLOR="#0C0C0C">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=3 face=arial>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20403003000000000000&nbsp;&nbsp;&nbsp;5</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN="LEFT"><FONT SIZE=3 face=arial>013013</FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN="4" VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN="4" VALIGN=TOP style="border-bottom:solid black 1px;border-top:solid black 1px; padding-top:10px">
<P ALIGN=CENTER><FONT SIZE=1 FACE=ARIAL><B>PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE</B></FONT>&nbsp;<FONT FACE=WINGDINGS SIZE=2>x</FONT></P>
</TD>
</TR>
</TABLE>


<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT; WIDTH:48%">


<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%" STYLE="BORDER-RIGHT:SOLID BLACK 1PX">
<TR style="font-size:5px">
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="34%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="3%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="44%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP COLSPAN="6">
<P><FONT FACE="arial" SIZE="1"><B>The Board of Directors recommends a vote FOR the election of directors.</B> </FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP COLSPAN=6>
<P><FONT SIZE=1 FACE=ARIAL>1.&nbsp;&nbsp;ELECTION OF THE FOLLOWING NOMINEES:</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="3" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="3" VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL><B>NOMINEES:</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=3 FACE=WINGDINGS>o</FONT>&nbsp;</P>
</TD>
<TD COLSPAN="2" VALIGN=MIDDLE>
<P><FONT SIZE=1 FACE=ARIAL><B>FOR ALL NOMINEES</B></FONT></P>
</TD>
<TD VALIGN=TOP nowrap>
<P><FONT SIZE=2 FACE=wingdings>&#161;</FONT>&nbsp;</P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL>Henry A. Alpert</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=wingdings>&#161;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL>Blaine V. Fogg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD> <P ALIGN=RIGHT><FONT SIZE=3 FACE=WINGDINGS>o</FONT>&nbsp;</P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL><B>WITHHOLD
AUTHORITY </B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=wingdings>&#161;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL>William H. Waldorf
</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL><B>FOR ALL NOMINEES</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=wingdings>&#161;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL>Joseph J. Whalen
</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=3 FACE=WINGDINGS>o</FONT>&nbsp;</P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL><B>FOR ALL EXCEPT</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>(See
instructions below)</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR><TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>

</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="6" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P align=justify style="margin-left:61pt;text-indent:-61pt;PADDING-RIGHT:4PX"><FONT FACE="ARIAL" SIZE="1"><U><B>INSTRUCTIONS:</B></U>&nbsp;To withhold authority to vote for any individual nominee(s), mark &#147;<B>FOR ALL EXCEPT</B>&#148; and fill in the circle next to each nominee you
wish to withhold, as shown here: </FONT> <FONT FACE="wingdings" SIZE="2">&#108; </FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1><BR><BR><BR><BR>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=TOP >
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="5" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX; BORDER-TOP:SOLID BLACK 1PX">
<P ALIGN=JUSTIFY STYLE=MARGIN-RIGHT:20PX><FONT SIZE=1 FACE=ARIAL>To change the address on your account, please check the box at right and indicate your new address in the address space above. Please
note that changes to the registered name(s) on the account may not be submitted via this method.</FONT></P>
</TD>
<TD STYLE="BORDER-BOTTOM:SOLID BLACK 1PX; BORDER-TOP:SOLID BLACK 1PX;PADDING-RIGHT:4PX"> <P ALIGN=CENTER>&nbsp;<FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
</TR>
</TABLE>

</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT; WIDTH:51%">

<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:5px">
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="63%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="7%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="12%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP colspan=2>
<P ALIGN="JUSTIFY"><FONT SIZE="1" FACE=ARIAL><B>The Board of Directors recommends a vote FOR the resolution approving
the compensation of our executive officers as disclosed in the Proxy
Statement.
</B> </FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT style="font-size:7pt" FACE=ARIAL>FOR&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT style="font-size:7pt" FACE=ARIAL>AGAINST&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT style="font-size:7pt" FACE=ARIAL>ABSTAIN</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP nowrap>
<P><FONT SIZE=1 FACE=ARIAL>2.&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P align=justify><FONT SIZE=1 FACE=ARIAL>Approval of the resolution approving the compensation of our executive
officers as disclosed in the Proxy Statement.
</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP colspan=2>
<P ALIGN="JUSTIFY"><FONT SIZE="1" FACE=ARIAL><B>The Board of Directors recommends a vote FOR the approval of the
ratification of the selection by our audit committee of Grant Thornton
LLP.
</B> </FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT style="font-size:7pt" FACE=ARIAL>FOR&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT style="font-size:7pt" FACE=ARIAL>AGAINST&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT style="font-size:7pt" FACE=ARIAL>ABSTAIN</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>3.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P align=justify><FONT SIZE=1 FACE=ARIAL>Ratification of the selection by our audit committee of Grant Thornton LLP
to serve as our independent registered public accounting firm for fiscal
2013.
</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>4.</FONT></P>
</TD>
<TD VALIGN=TOP COLSPAN=5>
<P align=justify><FONT SIZE=1 FACE=ARIAL>Upon such other business as may properly come before the meeting or any adjournment
thereof.
</FONT></P>
</TD>

</TR>

<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN="7" VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>PLEASE DATE, SIGN AND RETURN THIS PROXY IN THE ENCLOSED ENVELOPE
</FONT></P>
</TD>
</TR>
</TABLE>
</DIV>
<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="14%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="22%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="14%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="22%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=BOTTOM NOWRAP>
<P><FONT SIZE=1 FACE=ARIAL>&nbsp;&nbsp;Signature&nbsp;of&nbsp;Shareholder&nbsp;&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE="BORDER:SOLID BLACK 1PX">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=BOTTOM>
<P ALIGN="CENTER"><FONT SIZE=1 FACE=ARIAL>Date:</FONT></P>
</TD>
<TD VALIGN=TOP STYLE="BORDER:SOLID BLACK 1PX">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=BOTTOM NOWRAP>
<P><FONT SIZE=1 FACE=ARIAL>&nbsp;Signature&nbsp;of&nbsp;Shareholder&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE="BORDER:SOLID BLACK 1PX">
<P><FONT SIZE=3>&nbsp;</FONT></P>
</TD>
<TD VALIGN=BOTTOM >
<P ALIGN="CENTER"><FONT SIZE=1 FACE=ARIAL>Date:</FONT></P>
</TD>
<TD VALIGN=TOP STYLE="BORDER:SOLID BLACK 1PX">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>



<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="2%">
<P>&nbsp;</P>
</TD>
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="92%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=BOTTOM >
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD> <P><FONT SIZE=4>&nbsp;</FONT></P>
</TD>
<TD ROWSPAN="3" VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL><B>Note:</B></FONT></P>
</TD>
<TD ROWSPAN="3" VALIGN=TOP>
<P align=justify style="padding-right:5px"><FONT SIZE=1 FACE=ARIAL>Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing
as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please
sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in
partnership name by authorized person.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=BOTTOM BGCOLOR="BLACK">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=BOTTOM BGCOLOR="BLACK">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

</TABLE>
<BR>

<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P ALIGN=LEFT STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>


<P ALIGN=CENTER><FONT SIZE=3 FACE=ARIAL><B>ANNUAL MEETING OF SHAREHOLDERS OF</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=6 FACE=ARIAL><B>GRIFFON CORPORATION</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3 FACE=ARIAL><B>January 30, 2013</B></FONT></P>


<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="57%">
<TR style="font-size:1px">
<TD WIDTH="100%" VALIGN=TOP>
<P ALIGN=CENTER>&nbsp;</P>
</TD>
</TR>
<TR bgcolor="#CDCDCD" >
<TD VALIGN=middle style="padding:2%; border:solid black 1px">
<P ALIGN=CENTER><FONT FACE="ARIAL" SIZE="3"><B>PROXY VOTING INSTRUCTIONS</B> </FONT></P>
</TD>
</TR>

</TABLE>

<BR>

<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT; WIDTH:54%">

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="96%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</td>
<TD VALIGN=TOP>
<P align=justify><FONT FACE="ARIAL" SIZE="2"><U><B>INTERNET</B></U> <B>-</B> Access &#147;<B>www.voteproxy.com</B>&#148; and follow the
on-screen instructions. Have your proxy card available when you access the web page.</FONT> </P>
</TD>
</TR>
</TABLE>
</DIV>

<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT; WIDTH:55%">

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="96%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</td>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1 FACE=ARIAL>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</td>
<TD VALIGN=TOP>
<P align=justify><FONT FACE="ARIAL" SIZE="2"><U><B>TELEPHONE</B></U><B> -</B> Call toll-free <B>1-800-PROXIES</B> (1-800-776-9437) in the
United States or <B>1-718-921-8500</B> from foreign countries from any touch-tone telephone and follow the
instructions. Have your proxy card available. </FONT> </P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</td>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1 FACE=ARIAL>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</td>
<TD VALIGN=TOP>
<P align=justify><FONT SIZE=2 FACE=ARIAL>Vote online/phone until 11:59 PM EST the day before the meeting.</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</td>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1 FACE=ARIAL>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</td>
<TD VALIGN=TOP>
<P align=justify><FONT FACE="ARIAL" SIZE="2"><U><B>MAIL</B></U><B> -</B> Sign, date and mail your proxy card in
the envelope provided as soon as possible.</FONT></P>

</TD>
</TR>

<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</td>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1 FACE=ARIAL>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</td>
<TD VALIGN=TOP>
<P align=justify><FONT FACE="ARIAL" SIZE="2"><U><B>IN PERSON</B></U><B> -</B> You may vote your shares in person
by attending the Annual Meeting.</FONT></P>

</TD>
</TR>

</TABLE>
</div>

<DIV STYLE="POSITION:RELATIVE;FLOAT:right; WIDTH:42%"><BR>

<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="58%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="38%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD HEIGHT=46 VALIGN=middle style=" border:solid black 2px">
<P ALIGN=CENTER><FONT SIZE=3 FACE=ARIAL><B>COMPANY NUMBER</B></FONT></P>
</TD>
<TD HEIGHT=46 VALIGN=TOP style="border-right:solid black 2px; border-bottom:solid black 2px; border-top:solid black 2px">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P>&nbsp;</P>
</td>
</TR>
<TR>
<TD HEIGHT=46 VALIGN=middle style="border-right:solid black 2px; border-left:solid black 2px; border-bottom:solid black 2px">
<P ALIGN=CENTER><FONT SIZE=3 FACE=ARIAL><B>ACCOUNT NUMBER</B></FONT></P>
</TD>
<TD HEIGHT=46 VALIGN=TOP style="border-right:solid black 2px; border-bottom:solid black 2px">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P>&nbsp;</P>
</td>
</TR>
<TR>
<TD HEIGHT=46 VALIGN=TOP bgcolor="#C0C0C0" style="border-right:solid black 2px; border-left:solid black 2px; border-bottom:solid black 2px">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD HEIGHT=46 VALIGN=TOP style="border-right:solid black 2px; border-bottom:solid black 2px">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P>&nbsp;</P>
</td>
</TR>
</TABLE>
</div>
<BR clear=all><BR>

<DIV STYLE="border:solid black 1px; padding:4px;margin-left:2%;margin-right:2%" ALIGN="CENTER"><FONT FACE="ARIAL" style="font-size:9pt"><U><B>NOTICE OF INTERNET AVAILABILITY OF PROXY MATERIAL</B></U>:<BR>
The Notice of Meeting, Proxy Statement, Proxy Card and Annual Report on Form 10-K are available at<BR>
http://www.amstock.com/ProxyServices/ViewMaterial.asp?CoNumber=03170</FONT> </div>

<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:4px">
<TD WIDTH="15%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="70%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="15%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT FACE="WINGDINGS" SIZE="2"><B>&#226;</B> </FONT></P>
</TD>
<TD VALIGN=BOTTOM STYLE="PADDING:5PX">
<P ALIGN=CENTER ><FONT FACE="ARIAL" SIZE="1">Please detach along perforated line and mail in the envelope provided <u>IF</u> you are not voting via telephone or the Internet.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=left><FONT FACE="WINGDINGS" SIZE="2"><B>&#226;</B> </FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:1px">
<TD WIDTH="1%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="63%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="34%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP BGCOLOR="#0C0C0C">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 face=arial>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20403003000000000000&nbsp;&nbsp;&nbsp;5</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN="LEFT"><FONT SIZE=2 face=arial>013013</FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN="4" VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN="4" VALIGN=TOP style="border-bottom:solid black 1px; border-top:solid black 1px; padding-top:10px">
<P ALIGN=CENTER><FONT style="font-size:6pt" FACE=ARIAL><B>PLEASE SIGN, DATE AND RETURN PROMPTLY IN THE ENCLOSED
ENVELOPE. PLEASE MARK YOUR VOTE IN BLUE OR BLACK INK AS SHOWN HERE</B></FONT>&nbsp;<FONT FACE=WINGDINGS SIZE=2>x</FONT></P>
</TD>
</TR>
</TABLE>


<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT; WIDTH:54%">



<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%" STYLE="BORDER-RIGHT:SOLID BLACK 1PX">
<TR style="font-size:5px">
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="6%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="34%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="3%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="44%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP COLSPAN=6>
<P><FONT FACE="ARIAL" SIZE="1"><B>The Board of Directors recommends a vote FOR the election of directors.</B> </FONT></P>
</TD>
</tr>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP COLSPAN=6>
<P><FONT SIZE=1 FACE=ARIAL>1.&nbsp; ELECTION OF THE FOLLOWING NOMINEES:</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="3" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="3" VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL><B>NOMINEES:</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=3 FACE=WINGDINGS>o</FONT>&nbsp;</P>
</TD>
<TD COLSPAN="2" VALIGN=MIDDLE>
<P><FONT SIZE=1 FACE=ARIAL><B>FOR ALL NOMINEES</B></FONT></P>
</TD>
<TD VALIGN=TOP nowrap>
<P><FONT SIZE=2 FACE=wingdings>&#161;</FONT>&nbsp;</P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL>Henry A. Alpert</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=wingdings>&#161;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL>Blaine V. Fogg</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD> <P ALIGN=RIGHT><FONT SIZE=3 FACE=WINGDINGS>o</FONT>&nbsp;</P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL><B>WITHHOLD
AUTHORITY </B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=wingdings>&#161;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL>William H. Waldorf
</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL><B>FOR ALL NOMINEES</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=wingdings>&#161;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL>Joseph J. Whalen
</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=3 FACE=WINGDINGS>o</FONT>&nbsp;</P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1 FACE=ARIAL><B>FOR ALL EXCEPT</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=RIGHT><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>(See
instructions below)</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>


<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=4>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=4>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="6" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX">
<P align=justify style="margin-left:61pt;text-indent:-61pt;PADDING-RIGHT:4PX"><FONT FACE="ARIAL" SIZE="1"><U><B>INSTRUCTIONS:</B></U><B>&nbsp;</B>To withhold
authority to vote for any individual nominee(s), mark <B>&#147;FOR ALL EXCEPT&#148;</B> and fill in the circle next to each nominee you
wish to withhold, as shown here: </FONT> <FONT FACE="wingdings" SIZE="2">&#108; </FONT></P>
</TD>

</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=6>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=6>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="2" VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=TOP >
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN="5" VALIGN=TOP STYLE="BORDER-BOTTOM:SOLID BLACK 1PX; BORDER-TOP:SOLID BLACK 1PX;PADDING-BOTTOM:3PX">
<P ALIGN=JUSTIFY STYLE=MARGIN-RIGHT:7PX><FONT SIZE=1 FACE=ARIAL>To change the address on your account, please check the box at right and indicate your new
address in the address space above. Please note that changes to the registered name(s) on the account may not be submitted via this method.</FONT></P>
</TD>
<TD STYLE="BORDER-BOTTOM:SOLID BLACK 1PX; BORDER-TOP:SOLID BLACK 1PX;PADDING-RIGHT:4PX" > <P ALIGN=CENTER>&nbsp;<FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
</TR>
</TABLE>

</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT; WIDTH:45%">

<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:5px">
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="58%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="8%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="8%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP colspan=2 STYLE=PADDING-BOTTOM:5PX>
<P ALIGN="JUSTIFY"><FONT FACE="ARIAL" SIZE="1"><B>The Board of Directors recommends a vote FOR the resolution approving
the compensation of our executive officers as disclosed in the Proxy
Statement.
</B> </FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>

</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT STYLE="FONT-SIZE:7PT" FACE=ARIAL>FOR&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT STYLE="FONT-SIZE:7PT" FACE=ARIAL>AGAINST&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT STYLE="FONT-SIZE:7PT" FACE=ARIAL>ABSTAIN</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP nowrap>
<P><FONT SIZE=1 FACE=ARIAL>2.&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P align=justify><FONT SIZE=1 FACE=ARIAL>Approval of the resolution approving the compensation of our executive
officers as disclosed in the Proxy Statement.
</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=TOP COLSPAN=2 STYLE=PADDING-BOTTOM:5PX>
<P ALIGN="JUSTIFY"><FONT FACE="ARIAL" SIZE="1"><B>The Board of Directors recommends a vote FOR the approval of the
ratification of the selection by our audit committee of Grant Thornton
LLP.
</B> </FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>

</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT STYLE="FONT-SIZE:7PT" FACE=ARIAL>FOR&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT STYLE="FONT-SIZE:7PT" FACE=ARIAL>AGAINST&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT STYLE="FONT-SIZE:7PT" FACE=ARIAL>ABSTAIN</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>3.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P align=justify><FONT SIZE=1 FACE=ARIAL>Ratification of the selection by our audit committee of Grant Thornton LLP
to serve as our independent registered public accounting firm for fiscal
2013.
</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=3 FACE=WINGDINGS>o</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>



<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN=CENTER><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>4.</FONT></P>
</TD>
<TD VALIGN=TOP COLSPAN=6>
<P align=justify><FONT SIZE=1 FACE=ARIAL>Upon such other business as may properly come before the meeting or any adjournment
thereof.
</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN="7" VALIGN=TOP>
<P><FONT FACE="ARIAL" SIZE="1">PLEASE DATE, SIGN AND RETURN THIS PROXY IN THE ENCLOSED ENVELOPE </FONT></P>
</TD>
</TR>
</TABLE>
</DIV>
<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:3px">
<TD WIDTH="15%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="19%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="15%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="19%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="4%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="10%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=bottom NOWRAP>
<P><FONT SIZE=1 FACE=ARIAL>&nbsp;&nbsp;&nbsp;Signature of Shareholder&nbsp;&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE="BORDER:SOLID BLACK 1PX">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=bottom>
<P><FONT SIZE=1 FACE=ARIAL>&nbsp;&nbsp;Date:</FONT></P>
</TD>
<TD VALIGN=TOP STYLE="BORDER:SOLID BLACK 1PX">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=bottom NOWRAP>
<P><FONT SIZE=1 FACE=ARIAL>&nbsp;&nbsp;&nbsp;Signature of Shareholder&nbsp;&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE="BORDER:SOLID BLACK 1PX">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=bottom >
<P><FONT SIZE=1 FACE=ARIAL>&nbsp;&nbsp;Date:</FONT></P>
</TD>
<TD VALIGN=TOP STYLE="BORDER:SOLID BLACK 1PX">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>



<TABLE ALIGN=CENTER BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR style="font-size:3px">
<TD WIDTH="2%">
<P>&nbsp;</P>
</TD>
<TD WIDTH="5%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="89%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=BOTTOM >
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD> <P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD ROWSPAN="3" VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL><B>&nbsp;&nbsp;Note:</B></FONT></P>
</TD>
<TD ROWSPAN="3" VALIGN=TOP>
<P align=justify style="padding-right:6px"><FONT SIZE=1 FACE=ARIAL>Please sign exactly as your name or names appear on this Proxy. When shares are held jointly, each holder should sign. When signing
as executor, administrator, attorney, trustee or guardian, please give full title as such. If the signer is a corporation, please
sign full corporate name by duly authorized officer, giving full title as such. If signer is a partnership, please sign in
partnership name by authorized person.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD> <P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=BOTTOM >
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>

<TR>
<TD VALIGN=BOTTOM BGCOLOR="BLACK">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=BOTTOM BGCOLOR="BLACK">
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
</TABLE>
<BR>
<HR NOSHADE ALIGN=CENTER WIDTH="100%" SIZE=4><P ALIGN=LEFT STYLE='PAGE-BREAK-BEFORE: ALWAYS'></P><PAGE>


<P ALIGN=CENTER><FONT SIZE=3 FACE=ARIAL><B>Important Notice Regarding the Availability of Proxy Materials for the
Shareholder Meeting of</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=6 FACE=ARIAL><B>GRIFFON CORPORATION</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3 FACE=ARIAL><B>To Be Held On:</B></FONT></P>

<P ALIGN=CENTER><FONT SIZE=3 FACE=ARIAL><B>January 30, 2013
</B></FONT></P><BR>

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<P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=2 FACE=ARIAL><B>COMPANY NUMBER</B></FONT></P>
</TD>
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<P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=2 FACE=ARIAL><B>ACCOUNT NUMBER</B></FONT></P>
</TD>
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<P><FONT SIZE=1>&nbsp;</FONT></P>
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<P STYLE='MARGIN-LEFT:17.3PT;TEXT-INDENT:-8.65PT'><FONT SIZE=2 FACE=ARIAL><B>CONTROL NUMBER</B></FONT></P>
</TD>
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<P><FONT SIZE=1>&nbsp;</FONT></P>
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<P><FONT SIZE=1>&nbsp;</FONT></P>
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<P><FONT SIZE=1>&nbsp;</FONT></P>
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<TR STYLE="FONT-SIZE:5PX">
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<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P ALIGN=JUSTIFY><FONT SIZE=2 FACE=ARIAL><B>This communication is not a form for voting and presents only an overview of the more complete proxy materials that are available
to you on the Internet. We encourage you to access and review all of the important information contained in the proxy materials
before voting.
</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL><B>The proxy statement and annual report to security holders are available at:
http://www.amstock.com/ProxyServices/ViewMaterial.asp?CoNumber=03170.
</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL><B>If you want to receive a paper or e-mail copy of the proxy materials you must request one. There is no charge to you for requesting a
copy. To facilitate timely delivery please make the request as instructed below before January 16, 2013.
</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL><B>Please visit http://www.amstock.com/ProxyServices/ViewMaterial.asp?CoNumber=03170, where the following materials are available
for view:
</B></FONT></P>
</TD>
</TR>
</TABLE>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="25%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="73%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL>&#149;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL>Notice of Annual Meeting of
Shareholders</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL>&#149;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL>Proxy Statement</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL>&#149;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL>Form of Electronic Proxy Card</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL>&#149;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL>Annual Report on Form 10-K</FONT></P>
</TD>
</TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="25%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
<TD WIDTH="75%" VALIGN=TOP>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL><B>TO REQUEST
MATERIAL:</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL><B>TELEPHONE:
888-Proxy-NA (888-776-9962) and 718-921-8562 (for international callers)</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL><B>E-MAIL:
info@amstock.com</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL><B>WEBSITE:
http://www.amstock.com/proxyservices/requestmaterials.asp</B></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL><B>TO VOTE:</B></FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN="JUSTIFY"><FONT FACE="ARIAL" SIZE="2"><B>ONLINE:</B> To
access your online proxy card, please visit <U><B>www.voteproxy.com</B></U> and follow the
on-screen instructions. You may enter your voting instructions at
www.voteproxy.com up until 11:59 PM Eastern Time the day before the cut-off
or meeting date. </FONT> </P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=2 FACE=ARIAL><B>IN PERSON:</B><FONT FACE=ARIAL> You may
vote your shares in person by attending the Annual Meeting. The annual meeting
will be held at the offices of Dechert LLP, 1095 Avenue of Americas, New York,
NY 10036, on Wednesday, January 30, 2013 at 10:30 a.m. You may obtain directions
to the meeting by accessing the following website:
http://www.dechert.com/new_york/.
</FONT></FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN="JUSTIFY"><FONT SIZE=2 FACE=ARIAL><B>TELEPHONE:</B><FONT FACE=ARIAL> To vote
by telephone, please visit <B>https://secure.amstock.com/voteproxy/login2.asp</B>
to view the materials and to obtain the toll free number to call.</FONT></FONT></P>
</TD>
</TR>
</TABLE>

<BR>

<TABLE BORDER=0 CELLSPACING=0 CELLPADDING=0 WIDTH="100%">
<TR STYLE="FONT-SIZE:1PX">
<TD WIDTH="15%" VALIGN=TOP STYLE='BORDER:NONE;BORDER-TOP:SOLID BLACK 1PX'>
<P>&nbsp;</P>
</TD>
<TD WIDTH="35%" VALIGN=TOP STYLE='BORDER:NONE;BORDER-TOP:SOLID BLACK 1PX'>
<P>&nbsp;</P>
</TD>
<TD WIDTH="1%" VALIGN=TOP STYLE='BORDER-TOP:SOLID BLACK 1PX;BORDER-LEFT:NONE;BORDER-BOTTOM:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P>&nbsp;</P>
</TD>
<TD WIDTH="1%" VALIGN=TOP STYLE='BORDER:NONE;BORDER-TOP:SOLID BLACK 1PX'>
<P>&nbsp;</P>
</TD>
<TD WIDTH="2%" VALIGN=TOP STYLE='BORDER:NONE;BORDER-TOP:SOLID BLACK 1PX'>
<P>&nbsp;</P>
</TD>
<TD WIDTH="46%" VALIGN=TOP STYLE='BORDER:NONE;BORDER-TOP:SOLID BLACK 1PX'>
<P>&nbsp;</P>
</TD>
</TR>
<TR>
<TD COLSPAN=2 VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN=2 VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN=2 VALIGN=TOP>
<P STYLE="MARGIN-LEFT:.1IN"><FONT SIZE=2 FACE=ARIAL><B>The Board of Directors recommends a vote FOR the election
of directors.</B></FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN=2 VALIGN=TOP>
<P STYLE='MARGIN-RIGHT:.2IN' ALIGN="JUSTIFY"><FONT SIZE=1 FACE=ARIAL><B>The Board of Directors recommends a vote FOR the resolution approving
the compensation of our executive officers as disclosed in the Proxy
Statement.</B></FONT></P>
</TD>
</TR>
<TR>
<TD COLSPAN=2 VALIGN=TOP>
<P STYLE='MARGIN-LEFT:.1IN'><FONT SIZE=2 FACE=ARIAL>1.&nbsp;&nbsp;ELECTION
OF THE FOLLOWING NOMINEES:</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>2.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN="JUSTIFY" STYLE='MARGIN-RIGHT:.2IN'><FONT SIZE=1 FACE=ARIAL>Approval
of the resolution approving the compensation of our executive officers as
disclosed in the Proxy Statement. </FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN=3 VALIGN=TOP STYLE='BORDER:NONE'>
<P STYLE='MARGIN-RIGHT:.2IN'><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P STYLE='MARGIN-LEFT:.1IN'><FONT SIZE=2 FACE=ARIAL><B>NOMINEES:</B></FONT></P>
</TD>
<TD ROWSPAN=5 VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>Henry A. Alpert<BR>
Blaine V. Fogg<BR>
William H. Waldorf<BR>
Joseph J. Whalen
</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD COLSPAN=2 VALIGN=TOP>
<P ALIGN="JUSTIFY" STYLE='MARGIN-RIGHT:.2IN'><FONT FACE="ARIAL" SIZE="1"><B>The Board of Directors
recommends a vote FOR the approval of the ratification of the selection by
our audit committee of Grant Thornton LLP.</B> </FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P STYLE='MARGIN-RIGHT:.2IN'><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>3.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN="JUSTIFY" STYLE='MARGIN-RIGHT:.2IN'><FONT SIZE=1 FACE=ARIAL>Ratification of the selection by our audit committee of Grant Thornton LLP to serve as our
independent registered public accounting firm for fiscal 2013.
</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P STYLE='MARGIN-RIGHT:.2IN'><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1 FACE=ARIAL>4.</FONT></P>
</TD>
<TD VALIGN=TOP>
<P ALIGN="JUSTIFY" STYLE='MARGIN-RIGHT:.2IN'><FONT SIZE=1 FACE=ARIAL>Upon such
other business as may properly come before the meeting or any adjournment
thereof.</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
<TR>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
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</TD>
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</TD>
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<P><FONT SIZE=1>&nbsp;</FONT></P>
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</TD>
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</TD>
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<P><FONT SIZE=1>&nbsp;</FONT></P>
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<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
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</TD>
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<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
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<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
</TR>
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<TD COLSPAN=2 VALIGN=TOP>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE;BORDER-RIGHT:SOLID BLACK 1PX'>
<P><FONT SIZE=1>&nbsp;</FONT></P>
</TD>
<TD VALIGN=TOP STYLE='BORDER:NONE'>
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