2. STOCK-BASED COMPENSATION PLANS:  Description of Awards  We have seven types of stock-based compensation awards: compensatory stock options (options), restricted stock awards  (RSAs), an employee stock purchase plan (ESPP), employer matching contributions (the Match) for participants in our 401(k)  plan, stock-settled appreciation rights (SARs), subsidiary stock awards and stock grants to our non-employee directors. Stock- based compensation expense has no effect on our consolidated cash flows. Below is a summary of the key terms and methods of  valuation of our stock-based compensation awards:  Options. In June 1996, our Board of Directors adopted, upon approval of the shareholders by proxy, the 1996 Long-Term  Incentive Plan (LTIP). The purpose of the LTIP is to reward key individuals for making major contributions to our success and  the success of our subsidiaries and to attract and retain the services of qualified and capable employees. Options granted pursuant  to the LTIP must be exercised within 10 years following the grant date. A total of 14,000,000 shares of Class A Common Stock  are reserved for awards under this plan. As of December 31, 2010, 10,335,259 shares (including forfeited shares) were available  for future grants. The following is a summary of changes in outstanding stock options:  RSAs. RSAs are granted to employees pursuant to the LTIP. RSAs issued in 2010 have certain restrictions that lapse over two  years at 50% and 50%, respectively. RSAs issued prior to 2010 have certain restrictions that lapse over three years at 25%, 25%  and 50%, respectively. As the restrictions lapse, the Class A Common Stock may be freely traded on the open market. We  awarded 173,000 RSAs that had a fair value of $5.75 per share and 95,500 RSAs that had a fair value of $8.94 per share on March  12, 2010 and April 1, 2008, respectively. The fair value assumes the value of the stock on the trading date immediately prior to the  grant date. No RSAs were granted in 2009. In 2010 and 2009, 51,625 and 57,750, respectively, RSAs vested. As of December  31, 2010, 220,750 shares were unvested. For the years ended December 31, 2010, 2009 and 2008, we recorded expense of $0.8  million, $0.6 million and $0.6 million, respectively. RSAs are included in basic earnings (loss) per share upon grant date.  ESPP. In March 1998, the Board of Directors adopted, subject to approval of the shareholders, the ESPP. The ESPP  provides our employees with an opportunity to become shareholders through a convenient arrangement for purchasing shares of  Class A Common Stock. On the first day of each payroll deduction period, each participating employee receives options to  purchase a number of shares of our common stock with money that is withheld from his or her paycheck. The number of shares  available to the participating employee is determined at the end of the payroll deduction period by dividing the total amount of  money withheld during the payroll deduction period by the exercise price of the options (as described below). Options granted  under the ESPP to employees are automatically exercised to purchase shares on the last day of the payroll deduction period unless  the participating employee has, at least thirty days earlier, requested that his or her payroll contributions stop. Any cash  accumulated in an employee’s account for a period in which an employee elects not to participate is distributed to the employee. The initial exercise price for options under the ESPP is 85% of the lesser of the fair market value of the common stock as of  the first day of the quarter and as of the last day of that quarter. No participant can purchase more than $25,000 worth of our  common stock over all payroll deduction periods ending during the same calendar year. We value the stock options under the  ESPP using the Black-Scholes option pricing model, which incorporates the following assumptions as of December 31, 2010,  2009 and 2008: 2010 2009 2008 Risk-free interest rate  0.29%  0.28%  1.36%  Expected life  91 days  91 days  91 days  Expected volatility  78.86%  137.40%  117.70%  Annual dividend yield  0.00%  0.00% 15.22% 2010 Annual Report    39  Options  Weighted-Average  Exercise Price  Exercisable  Weighted-Average  Exercise Price  Outstanding at December 31, 2009  389,500 $ 10.74 389,500 $ 10.74 2010 Activity:  Granted  —  —  —  —  Exercised  — — — — Forfeited  (89,000)  10.51  —  —  Outstanding at December 31, 2010  300,500 $ 10.81 300,500 $ 10.81