Mr. Kirsch, age 63, is a Senior Advisor at GCA Savvian, LLC ("GCA Savvian"), an independent investment bank focused on the growth sectors of the global economy. Mr. Kirsch is responsible for GCA Savvian's healthcare investment banking activities with a primary focus on mergers and acquisitions and equity capital markets transactions. Prior to joining GCA Savvian in June 2005, Mr. Kirsch was a founding member and Managing Director of Vector Securities, LLC, an investment and merchant banking firm, from 2001 to May 2005. From 1999 to 2001, Mr. Kirsch was a Managing Director and Head of Healthcare Research and Capital Markets of Prudential Vector Healthcare Group, a unit of Prudential Securities, Inc., a full-service brokerage firm. In addition, from 1995 to 1999, Mr. Kirsch was Director, Equity Research of Vector Securities International, Inc., an investment banking firm. Mr. Kirsch is currently a member of the board of directors of Pozen, Inc., a publicly traded pharmaceutical company focused on transforming medicines that can transform lives, and PhysioSonics, Inc., a privately held company developing noninvasive neurological products. Mr. Kirsch graduated from the University of Rhode Island in 1973 and received an M.B.A. in finance from Bernard M. Baruch College in 1975.

The Board determined that Mr. Kirsch has no relationship with the Company or its subsidiaries, either directly or indirectly, that would be inconsistent with a determination of independence under the applicable rules and regulations of the NASDAQ Stock Market and the United States Securities and Exchange Commission.

Mr. Kirsch shall receive compensation for serving on the Board pursuant to the Company's non-employee director compensation guidelines. On August 18, 2015, the Board approved the grant to Mr. Kirsch of stock options to purchase 22,500 shares of Common Stock (the "Stock Options"), at an exercise price equal to $1.91 per share. The Stock Options are fully vested on the date of grant, have a maximum term of seven years from the date of grant and a post-termination exercise period of 12 months following the date of the director's cessation of service on account of the director's death and upon a change in control of the Company.