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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000897101-10-001190.txt : 20100602
<SEC-HEADER>0000897101-10-001190.hdr.sgml : 20100602
<ACCEPTANCE-DATETIME>20100602162746
ACCESSION NUMBER:		0000897101-10-001190
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100526
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Submission of Matters to a Vote of Security Holders
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100602
DATE AS OF CHANGE:		20100602

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INSIGNIA SYSTEMS INC/MN
		CENTRAL INDEX KEY:			0000875355
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS MANUFACTURING INDUSTRIES [3990]
		IRS NUMBER:				411656308
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13471
		FILM NUMBER:		10873165

	BUSINESS ADDRESS:	
		STREET 1:		8799 BROOKLYN BLVD.
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55445
		BUSINESS PHONE:		7633926200

	MAIL ADDRESS:	
		STREET 1:		8799 BROOKLYN BLVD.
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55445
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>insignia102774_8k.htm
<DESCRIPTION>FORM 8-K DATED MAY 26, 2010
<TEXT>

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   <TITLE>insignia102774_8k.htm - Generated by SEC Publisher for SEC Filing</TITLE>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center"><B><FONT lang=EN-US style="FONT-SIZE: 14pt" face="'Times New Roman,serif'">UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Washington, DC 20549-1004</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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<P style="MARGIN: 6pt 0in; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 20pt; LAYOUT-GRID-MODE: line" face="'Times New Roman,serif'">FORM 8-K</FONT></B></P>
<HR align=center width="20%" color=#000000>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" face="'Times New Roman,serif'"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" face="'Times New Roman,serif'">CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF </FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" face="'Times New Roman,serif'">THE SECURITIES EXCHANGE ACT OF 1934</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">Date of Report:</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">May 26, 2010</FONT></P>
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<P style="MARGIN: 6pt 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 20pt" face="'Times New Roman,serif'">INSIGNIA SYSTEMS, INC.</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(Exact name of registrant as specified in its chapter)</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT></B>&nbsp;</P>
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     <TD style="PADDING-RIGHT: 1.85pt; PADDING-LEFT: 1.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="34%"> <H1 style="MARGIN: 0in 0pt 0in 0in; TEXT-ALIGN: center" align=center><B><FONT style="FONT-SIZE: 12pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">Minnesota</FONT></B></H1></TD>
     <TD style="PADDING-RIGHT: 1.85pt; PADDING-LEFT: 1.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="33%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">1-13471</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">41-1656308</FONT></B></P>
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     <TD style="PADDING-RIGHT: 1.85pt; PADDING-LEFT: 1.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="34%"> <H1 style="MARGIN: 0in 0pt 0in 0in; TEXT-ALIGN: center" align=center><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'">(State or other jurisdiction<BR>
of incorporation)</FONT></H1></TD>
     <TD style="PADDING-RIGHT: 1.85pt; PADDING-LEFT: 1.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="33%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(Commission <BR>
File Number)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(IRS Employer <BR>
Identification No.)</FONT></P>
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     <TD style="PADDING-RIGHT: 1.85pt; PADDING-LEFT: 1.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="34%"> <H1 style="MARGIN: 0in 0pt 0in 0in; TEXT-ALIGN: center" align=center><FONT style="FONT-WEIGHT: normal; FONT-SIZE: 10pt; TEXT-DECORATION: none" face="'Times New Roman,serif'"></FONT>&nbsp;</H1></TD>
     <TD style="PADDING-RIGHT: 1.85pt; PADDING-LEFT: 1.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="33%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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     <TD style="PADDING-RIGHT: 1.85pt; PADDING-LEFT: 1.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="33%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
</TD></TR>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">8799 Brooklyn Blvd., Minneapolis, Minnesota</FONT></B></P>
</TD>
     <TD style="PADDING-RIGHT: 1.85pt; PADDING-LEFT: 1.85pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" width="33%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">55445</FONT></B></P>
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<TR>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(Address of principal executive offices)</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(Zip Code)</FONT></P>
</TD></TR></TABLE></DIV>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">Registrant&#146;s telephone number, including area code&nbsp;&nbsp;</FONT><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">(763) 392-6200</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(Former name or former address, if changed since last report)</FONT></P>
<P style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: both" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<HR align=center width="20%" color=#000000>
<P style="MARGIN: 6pt 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: both" face="'Times New Roman,serif'">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Wingdings>o</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>
<P style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Wingdings>o</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>
<P style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Wingdings>o</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>
<P style="MARGIN: 0in 0in 0pt 0.5in; TEXT-INDENT: -0.25in"><FONT lang=EN-US style="FONT-SIZE: 12pt" face=Wingdings>o</FONT><FONT lang=EN-US style="FONT-SIZE: 7pt" face="'Times New Roman'">&nbsp; </FONT><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: left" align=left><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">Item 5.02.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">(e) On May 26, 2010, the Company&#146;s Compensation Committee approved the 2010 Executive Officer Incentive Bonus Plan. The employees eligible to participate in the Plan are the Chief Executive Officer, Vice President of Finance, Senior Vice President of Marketing Services and Senior Vice President of Operations. Under the terms of the Plan, eligible employees are eligible to receive annual bonuses of up to 36% of their 2010 base salary based upon levels of POPS revenue and corporate adjusted pre-tax income achieved by the registrant in 2010.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">Item 5.07.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'" color=black>Submission of Matters to a Vote of Security Holders</FONT></B></P>
<P style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">On May 26, 2010, the Company held its Annual Meeting of Shareholders in Minneapolis, Minnesota. At the Annual Meeting, there were present in person or by proxy 13,695,173 shares of the Company&#146;s common stock, representing 88.70% of the total outstanding eligible votes. At the Annual Meeting, the Company&#146;s shareholders (1) elected five members of the Board of Directors of the Company, (2) approved an amendment to the 2003 Incentive Stock Option Plan and (3) ratified the appointment of Grant Thornton LLP as the Company&#146;s independent registered public accounting firm for the year ending December 31, 2010.</FONT></P>
<P style="MARGIN: 0in; TEXT-INDENT: -1in; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in; TEXT-INDENT: 0in; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-WEIGHT: normal; FONT-SIZE: 10pt" face="'Times New Roman,serif'">1. The following directors were elected to serve for one year, and until their successors are elected:&nbsp; </FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<DIV align=left>
<TABLE style="WIDTH: 550.799pt; BORDER-COLLAPSE: collapse" cellSpacing=0 cellPadding=0 border=0>
<TR>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Nominee</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Votes For</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Votes Withheld</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Broker Non-Votes</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #d6f3e8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Donald J. Kramer</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #d6f3e8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">5,085,255</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #d6f3e8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">62,198</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #d6f3e8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">8,547,720</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Scott F. Drill</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">5,086,055</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">61,398</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">8,547,720</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #d6f3e8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Peter V. Derycz</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #d6f3e8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">5,086,055</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #d6f3e8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">61,398</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; BACKGROUND: #d6f3e8; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">8,547,720</FONT></P>
</TD></TR>
<TR>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Reid V. MacDonald</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">5,085,255</FONT></P>
</TD>
     <TD style="PADDING-RIGHT: 0in; PADDING-LEFT: 0in; PADDING-BOTTOM: 0in; PADDING-TOP: 0in" vAlign=top width="25%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">62,198</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">8,547,720</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Gordon F. Stofer</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">5,085,255</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">62,198</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">8,547,720</FONT></P>
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<P style="MARGIN: 0in 0in 0pt 45pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">2. The shareholders present in person or by proxy approved an amendment to the Company&#146;s 2003 Incentive Stock Option Plan to increase the number of shares reserved for issuance under the Plan from 2,625,000 to 2,875,000 by a vote of 4,796,994 shares in favor, 340,004 shares against, 10,455 shares abstaining and 8,547,720 broker non-votes.</FONT></P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">3. The shareholders present in person or by proxy voted to ratify the appointment of Grant Thornton LLP as the independent registered public accounting firm for the year ended December 31, 2010, by a vote of 13,674,139 shares in favor, 4,950 shares against and 16,084 shares abstaining.</FONT></P>
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<P style="MARGIN: 0in 0.25in 0pt 0in; TEXT-ALIGN: justify"><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" face="'Times New Roman,serif'">Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face="'Times New Roman,serif'">Exhibits</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT style="FONT-SIZE: 10pt; LAYOUT-GRID-MODE: line" face="'Times New Roman,serif'">2010 Executive Officer Incentive Bonus Plan</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt; LAYOUT-GRID-MODE: line" face="'Times New Roman,serif'">SIGNATURES</FONT></B></P>
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<P style="MARGIN: 0in"><FONT lang=EN-US style="FONT-SIZE: 10pt; LINE-HEIGHT: normal" face="'Times New Roman,serif'">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Insignia Systems, Inc.</FONT></B></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Date:&nbsp;&nbsp;&nbsp; June 2, 2010</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Scott F. Drill, President and Chief Executive Officer</FONT></P>
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<FILENAME>insignia102774_ex99-1.htm
<DESCRIPTION>2010 EXECUTIVE OFFICER INCENTIVE BONUS PLAN
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">Exhibit 99.1</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT></B>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">INSIGNIA SYSTEMS, INC.</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><FONT lang=EN-US style="FONT-SIZE: 12pt" face="'Times New Roman,serif'">2010 EXECUTIVE OFFICER INCENTIVE BONUS PLAN</FONT></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Purpose</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp; The purpose of this Plan is to assist the corporation in retaining and motivating certain officers of the corporation for the benefit of the corporation and its shareholders.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Eligibility</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp; The employees eligible to participate in this Plan are the individuals employed in the following positions as of the date of adoption of the Plan: Chief Executive Officer, Vice President of Finance, Senior Vice President of Marketing Services, and Senior Vice President of Operations.&nbsp; An eligible employee must be employed on December 31, 2010 to earn a bonus.</FO
NT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Duration of Plan</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp; This Plan shall be effective for the corporation&#146;s fiscal year ending December 31, 2010.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Bonus Amounts</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp; Each eligible employee may earn a bonus in 2010, equal to a specified percentage of his base salary at December 31, 2010, based upon the actual amount of POPS revenue and corporate adjusted pre-tax income for the Company in 2010 as compared to target. Target is the Company&#146;s budget for 2010 as approved by the Company&#146;s Board of Directors on February 23, 20
10. Attached is a schedule showing different tiers of bonus levels, and the minimum amounts of POPS revenue and corporate adjusted pre-tax income required to earn the bonus payable at each tier.&nbsp; If the amount of POPS revenue and/or corporate adjusted pre-tax income earned by the Company in 2010 increases above the minimum amounts required for any tier, but does not reach the minimum amounts required for the next tier, the bonus percentages payable within such tier shall increase proportionately.&nbsp; In calculating corporate adjusted pre-tax income for 2010, any amount awarded to the Company as damages in litigation, any amount payable to the Company in settlement of litigation, and legal fees related to the News America litigation shall be excluded.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Calculation and Approval of Bonuses</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp; Bonus amounts shall be calculated by the corporation&#146;s CFO based on the accounting methods and procedures used in preparing the corporation&#146;s audited financial statements for 2010.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All bonus calculations shall be reviewed and approved by the Compensation Committee prior to payment.&nbsp; The Compensation Committee retains sole and absolute discretion to increase, decrease or otherwise modify any bonus payable to any eligible employee.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Payment of Bonuses</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp; Earned bonuses shall be paid as soon as administratively feasible after December 31, 2010, but not later than March 15, 2011.&nbsp; All payments shall be reduced by applicable withholdings.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Non-Assignability</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp; An eligible employee may not assign or transfer his right to payment under this Plan, except to his heirs in the event of his death after December 31, 2010 and prior to payment, and his right to payment may not be attached by his creditors.</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">No Continued Employment</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp; Nothing contained in this Plan shall be construed as guaranteeing continued employment to any eligible employee.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Page 1 of 2</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></B><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Administration</FONT></U></B><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">.</FONT></B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp; The Plan shall be administered by the Compensation Committee, which shall have the authority to construe and interpret the Plan, and determine amounts payable under the Plan.</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><B><U><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">SCHEDULE</FONT></U></B></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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<TABLE style="MARGIN-LEFT: 0in; WIDTH: 401.399pt" cellSpacing=0 cellPadding=0 border=0>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="70%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">POPS Revenue Based Bonus</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Bonus Tier</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="36%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Minimum POPS</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Revenue</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="34%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Bonus as</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Percentage</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">of Salary</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Minimum Bonus</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="36%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">80% of Target</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="34%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;7%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Intermediate Bonus</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="36%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">100% of Target</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="34%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">12%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Full Bonus</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">120% of Target</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">18%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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<TABLE style="MARGIN-LEFT: 0in; WIDTH: 403.199pt" cellSpacing=0 cellPadding=0 border=0>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; BORDER-TOP: windowtext 1pt solid; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="70%" colSpan=2>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Corporate Adjusted Pre-Tax Income Based Bonus</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Bonus Tier</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="35%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Minimum Corporate</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Adjusted Pre-Tax Income</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=bottom width="35%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Bonus as</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Percentage</FONT></P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">of Salary</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Minimum Bonus</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="35%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">80% of Target</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="35%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">&nbsp;7%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Intermediate Bonus</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="35%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">100% of Target</FONT></P>
</TD>
     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="35%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">12%</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; BORDER-LEFT: windowtext 1pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="30%">
<P style="MARGIN: 0in 0in 0pt"><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Full Bonus</FONT></P>
</TD>
     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="35%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">120% of Target</FONT></P>
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     <TD style="BORDER-RIGHT: windowtext 1pt solid; PADDING-RIGHT: 5.4pt; PADDING-LEFT: 5.4pt; PADDING-BOTTOM: 0in; PADDING-TOP: 0in; BORDER-BOTTOM: windowtext 1pt solid" vAlign=top width="35%">
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: center" align=center><FONT style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">18%</FONT></P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: justify"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'"></FONT>&nbsp;</P>
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<P style="MARGIN: 0in 0in 0pt; TEXT-ALIGN: right" align=right><FONT lang=EN-US style="FONT-SIZE: 10pt" face="'Times New Roman,serif'">Page 2 of 2</FONT></P>
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