The company addresses the highlighted phrase in the proposal which is dependent on the core text of the proposal which is to enable 10 of sharholders to call a special meeting: 3 (Number to be assigned by the companyl - Special Shareowner Meetings RESOLVED, Shareowners ask our board to take the steps necessary unilaterally (to the fullest extent permitted by law) to amend our bylaws and each appropriate governing document to give holders of 10 of our outstanding common stock (or the lowest percentage permitted by law above 10 ) the power to call a special shareowner meeting.. (the "Company") submitted a letter (the "Intial Request") notifying the staff of the Division of Corporation Finance (the "Staf ) of the Securties and Exchange Commission that the Company intended to omit from its proxy statement and form of proxy for its 2010 Anual Meeting of Shareholders (collectively, the "2010 Proxy Materials") a shareholder proposal and statements in support thereof (collectively, the "Proposal") received from John Chevedden on behalf of James McRitchie (the "Proponent").. As well, pursuant to Section 2.2.2 Board or, in his absence, the Chief power to preside over all shareholder meetings is bestowed upon the Chairan of special Bylaws gives the Board, or the Chairman ofthe Board, the right to determine (i) that a shareholder nomination or other business does not constitute proper business to be transacted at a shareholder meeting or (ii) that a nomination or other business was not properly brought before the shareholder meeting pursuant to the the Bylaws.. The Staff consistently has taken the position that shareholder proposals are inherently misleading and therefore excludable under Rule 14a-8(i)(3) where "neither the stockholders voting on the proposal, nor the company in implementing the proposal (if adopted), would be able to determine with any reasonable certainty exactly what actions or measures the proposal requires-ths objection also may be appropriate where the p
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