A. Thomas Young
Thank you, Mr. Secretary. And the Annual Meeting of Shareholders is now officially convened. We have 6 matters to consider and vote upon at this meeting. One, a proposal to elect 11 directors; two, a proposal to approve the merger of SAIC Inc. with, and into, its wholly-owned subsidiary, Science Applications International Corporation, to eliminate the current holding company structure; three, a proposal to amend our 2006 Equity Incentive Plan; four, an advisory vote on executive compensation; five, a proposal to ratify the appointment of Deloitte & Touche as the company's independent registered public accounting firm for the fiscal year ending January 31, 2013; and six, a shareholder proposal requesting that the Board of Directors take action to authorize stockholder action by written consent.
Your Board is recommending that you vote in favor of each proposal for the annual -- and for the annual advisory vote on executive compensation, but to oppose the stockholder proposal. A description of each item, your board's recommendation, and its rationale for the recommendations are set forth in detail in the proxy statement. As is our usual practice, there will be time for a discussion of each proposal after it has been formally presented. If you have a comment or a question concerning one of the proposals, please come up to one of the microphones that you'll see in the aisles and state your name and indicate whether you're a stockholder or a proxy holder.