Attached files
| file | filename |
|---|---|
| 8-K - MITEK SYSTEMS INC | v211037_8-k.htm |
| EX-99.3 - MITEK SYSTEMS INC | v211037_ex99-3.htm |
| EX-99.2 - MITEK SYSTEMS INC | v211037_ex99-2.htm |
EXHIBIT
99.1
Mitek
systems
January
21, 2011
VIA
EMAIL
Dear
Michael:
I want to
express my appreciation for your service to Mitek as a member of our Board of
Directors.
When we
spoke last Friday, John Thornton and I informed you that the decision had been
made not to renominate you as a candidate for the board and instead to nominate
a new candidate in your place. To properly reflect matters for the
record we amended our proxy filing on January 19 to reflect the fact that
you were not being nominated for re-election as a director.
Public
companies often make adjustments in board compositions to take advantage of new
opportunities and to gain expertise. As Mitek continues to grow into
a mobile payments leader, it will benefit our shareholders and management to
have a director on the board with extensive payments and banking industry
expertise. Our new nominee has this experience and sits on the boards
of several public companies.
Your
tenure on the Mitek board has benefitted the company in many ways. I
think you will agree that you and the other directors have not only insisted on
high standards of corporate governance, but have experienced and observed those
standards playing out in the day to day operations of the company and in the
deliberations of the board. Your being a director has helped set and
maintain those standards.
I
understand that you are disappointed by not being renominated and for that we
are sorry, but I hope that you will continue to have a positive interest in the
company and in what we do. The value of the options you received from
Mitek during your tenure as a director have a value exceeding $400,000 at
today's market price. My job is to increase Mitek shareholder value
and I believe the direction we are taking is the right one.
I wish
you well, Michael, and appreciate your ongoing support as we move on.
Sincerely,
James B.
DeBello
President,
CEO
cc: John
M. Thornton, Chairman