On January 18, 2013, the Nominating and Governance Committee of SMTC Corp.'s Board of Directors, the Compensation Committee of the Board and the full Board, each such committee or Board acting by unanimous written consent, (i) expanded the number of members of the Nominating Committee and Compensation Committee and appointed Mr. Lawrence Silber to serve as a member of both such committees, (ii) modified the company's guidelines for stock ownership by the company's directors; (iii) adopted certain policies related to the optimal length of service for members of the Board and members of Board committees and (iv) for equity grants issued after January 18, 2013 under the SMTC Corporation 2010 Incentive Plan, eliminated certain director turn-over provisions from the list of enumerated causes of accelerated vesting.