The board of directors has nominated Irwin Federman and Kenneth H. Traub
to stand for election as Class II directors at this annual meeting.
Kenneth H. Traub, age 54, has served as a Managing Partner of Raging Capital Management, LLC (Raging Capital) a diversified investment firm, since December 2015.
Mr. Traubs wealth of executive management and board experience and corporate governance awareness from his
experience as a senior executive of public companies and his
current and past service as a director would allow him to provide valuable advice and guidance to the Board.
From 2009 through 2015, Mr. Traub was President and Chief Executive Officer of Ethos Management LLC, and from 2013 through
From 1999 until its acquisition by JDS Uniphase Corp. (JDSU) in 2008, Mr. Traub served as President and Chief Executive Officer of American Bank Note Holographics, Inc. (ABNH), a leading global supplier of optical security devices for the protection of documents and products against counterfeiting.
Following the sale of ABNH, he served as Vice President of JDSU, a global leader in optical technologies and telecommunications.
In 1994, Mr. Traub co-founded Voxware, Inc., a pioneer in voice over Internet protocol communication technologies, and served as its Executive Vice President and Chief Financial Officer through 1998.
From 1988 to 1994, he served as Vice President of Trans-Resources, Inc., a multi-national holding company and investment manager.
Mr. Traub currently serves on the boards of directors of the following public companies: (i) As Chairman of the board of MRV Communications, Inc., a leading provider of packet and optical communications network equipment, (ii) DSP Group, Inc., a leading global provider of wireless chipset solutions for converged communications, (iii) Athersys, Inc., a biotechnology company engaged in the discovery and development of therapeutic product candidates, and (iv) A. M. Castle & Co., a specialty metals and plastics distribution company.
He previously served on the boards of directors of (i) Phoenix Technologies, Inc., a supplier of the basic input output system for the personal computer industry, from 2009 until the company was sold in 2010, (ii) iPass, Inc., a leading global provider of mobility services for Enterprises and Carriers, from 2009 to 2013, (iii) MIPS Technologies, Inc., a leading provider of industry standard processor architectures and cores, from 2011 until the company was sold in 2013, (iv) Xyratex Limited, a leading supplier of data storage technologies, from 2013 until the company was sold in 2014, and (v) Vitesse Semiconductor Corporation, a leading supplier of integrated circuit solutions for next-generation carrier and enterprise networks, from 2013 until the company was sold in 2015.
He also served as the Chairman of the Board of the New Jersey chapter of the Young Presidents Organization in 2010 and 2011 and on the board of the New Jersey chapter of the World Presidents Organization since 2012.
Mr. Traub holds a BA from Emory College and an MBA from Harvard Business School.
Baruch, Burkett, Federman, Scalise, Traub
or van den Hoek, representing six of our seven directors and director nominees, has a relationship that would interfere with the exercise of independent judgment in carrying out the responsibilities of a director, and that each of these persons is "independent" as that term is defined under the Nasdaq Marketplace Rules.