| ·   | Serve      as an independent and objective party to monitor the Company’s financial      reporting process and internal controlsystem; |
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| ·   | Provide      an open avenue of communication among the independent auditors,      management, and the Board; |
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| ·   | oversee      management's preparation of the Company's financial statements and      management's conduct of the accounting and financial reporting      processes; |
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| ·   | oversee      management's maintenance of internal controls and procedures for financial      reporting; |
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| ·   | oversee      the Company's compliance with applicable legal and regulatory      requirements, including without limitation, those requirements relating to      financial controls and reporting; |
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| ·   | oversee      the independent auditor's qualifications and  independence; |
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| ·   | oversee      the performance of the independent auditors, including the annual      independent audit of the Company's financial  statements; |
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| ·   | prepare      any report required to be prepared by the Committee pursuant to the rules      of the SEC to be included in the Company's proxy statement;      and |
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| ·   | discharge      such duties and responsibilities as may be required of the Committee by      the provisions of applicable law or rule or regulation of the American      Stock Exchange and the Sarbanes-Oxley Act of  2002. |
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| ·   | Relationship      with Independent Auditors — The independent      auditors shall report directly and are ultimately accountable to the      Committee in its capacity as a committee of the Board. The Committee shall      have sole authority and responsibility to appoint, compensate, oversee,      evaluate and, where appropriate, replace the independent auditors. The      Committee shall discuss with the auditors their independence from      management and the Company and the matters included in the written      disclosures required by the Independence Standards  Board. |
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| ·   | Annually,      the Committee shall review and recommend for stockholder ratification the      selection of the Company's independentauditors. |
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| ·   | The      Committee shall pre-approve all audit and permitted non-audit services      provided by the independentauditors. |
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| ·   | The      Committee periodically shall meet separately with management and with the      Company's independent auditors. |
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| ·   | Annually,      the Committee shall obtain from the independent auditors a formal written      statement delineating all relationships between the independent auditors      and the Company consistent with Independence Standards Board Standard 1,      discuss with the independent auditors any such disclosed relationships and      their impact on the independent auditors' independence, and take or      recommend that the Board take appropriate action regarding the      independence of the independentauditors. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Periodic      Reviews —      Prior to the filing of the Company's Quarterly Reports on Form      10-Q, the Committee shall review with management and the independent      auditors the interim financial statements and other information to be      included in the Form 10-Q, including the Company's disclosures under      "Management's Discussion and Analysis of Financial Condition and Results      of Operations" ("MD&A"). Also, the Committee shall discuss the results      of the quarterly review and any other matters required to be communicated      to the Committee by the independent auditors under generally accepted      auditing standards. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Annual      Reviews —      The Committee shall review with management and the independent      auditors the financial statements and other financial information,      including the Company's disclosure under MD&A, to be included in the      Company's Annual Report on Form 10-K (or the annual report to shareholders      if distributed prior to the filing of the Form 10-K). Also, the Committee      shall discuss the results of the annual audit and any other matters      required to be communicated to the Committee by the independent auditors      under generally accepted auditing standards. Based on the review and      discussions described above, the Committee shall recommend to the Board of      Directors whether the financial statements should be included in the      Annual Report on Form 10­K. The Committee shall prepare the Audit      Committee report to be included in the Company's proxy statements when and      as required by the ApplicableRules. |
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| ·   | The      Committee shall establish and maintain procedures for (i) receiving,      retaining and addressing complaints regarding the Company's accounting,      internal controls or auditing matters and (ii) the confidential, anonymous      submission by employees of concerns regarding questionable accounting or      auditing matters, in accordance with the Applicable  Rules. |
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| ·   | The      Committee will have responsibility for reviewing and approving all      proposed related party transactions as required by AMEX listing      requirements. |
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|   |
|--------|

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| ·   | Independent      judgments about the appropriateness of the Company’s current or proposed      accounting principles and whether current or proposed financial      disclosures are clear. |
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| ·   | Views      on whether the accounting principles chosen by management are      conservative, moderate, or aggressive as they relate to income, asset, and      liability recognition, and whether these accounting principles are      commonly used. |
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| ·   | Reasons      why accounting principles and disclosure practices used for new      transactions or events areappropriate. |
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| ·   | Reasons      for accepting or questioning significant estimates made by      management. |
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| ·   | Views      on how selected accounting principles and disclosure practices affect      shareholder and public attitudes about the  Company. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Review      and approve the scope of the Company’s audit and that of its subsidiaries      as recommended by the independentauditors. |
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| ·   | Answer      questions raised by shareholders during an annual shareholders’ meeting on      matters relating to the Committee’s activities if asked to do so by the      Board’s chairperson. |
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| ·   | Ask      the appropriate corporate officer to study a particular area of interest      or concern to the Committee. |
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| ·   | Appointment,      compensation, oversight, evaluation and, where appropriate, replace the      independent auditors. |
|--------------------|----------------------------------------------------------------------------------------------------------------------|

| ·   | Implementation      of major accounting policy changes. |
|--------------------|---------------------------------------------------------|

| ·   | SEC      registration statements to be signed by the  Board. |
|--------------------|--------------------------------------------------------------|

| ·   | The      auditors’ reports and financial statements prior to publication in the      annual report. |
|--------------------|-----------------------------------------------------------------------------------------------------------|

| ·   | Accounting      policy changes proposed or adopted by organizations such as the Financial      Accounting Standards Board (“FASB”), the Securities and Exchange      Commission (“SEC”), and the American Institute of Certified Public      Accountants (“AICPA”), or by comparable bodies outside the      U.S. |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | The      independent auditors’ assessment of the strengths and weaknesses of the      Company’s financial staff, systems, controls, and other factors that might      be relevant to the integrity of the financial  statements. |
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| ·   | Quarterly      financial statement review beforepublication. |
|--------------------|--------------------------------------------------------------|

| ·   | Administration      of the Company’s “conflict of interest”policy. |
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| ·   | The      performance of management and operating personnel under the Company’s code      of ethics. |
|--------------------|-----------------------------------------------------------------------------------------------------------|

| ·   | Gaps      and exposures in insuranceprograms. |
|--------------------|-----------------------------------------------|

| ·   | Reports      about the Company or its subsidiaries submitted by agencies of governments      in countries in which the Company or its subsidiaries    operate. |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Periodic      SEC filings and the adequacy of programs and procedures to assure      compliance with SEC regulations and regulations of the    NASD. |
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