Mr. McCormac, age 43, has more than 16 years of experience in financial arenas, and has extensive background in managing the financial plans and accounting policies for high growth companies. From December 2001 to May 2006, Mr. McCormac served as the chief financial officer of Storactive, Inc. in Marina del Rey, California, a leader in developing true continuous data protection software for Windows PCs and Exchange Servers. From October 2000 to December 2001, he was a consulting chief financial officer. Prior to that, Mr. McCormac served as senior vice president of finance at Quarterdeck Corporation (before it was acquired by Symantec, Inc.) and a vice president at Countrywide Home Loans.
On October 16, 2006, Mr. McCormac was appointed to the position of chief financial officer and principal accounting officer; prior to that, from May 2006, he served as a consultant to the Company on accounting matters. Mr. McCormac does not have an employment agreement with the Company. He received a Bachelor of Science degree in accounting in 1986 from the University of Southern California, and is licensed as a certified public accountant in California.