On February 19, 2012, Jacada Ltd. held its Annual General Meeting of Shareholders for the 2011 fiscal year. At the meeting, shareholders appointed Yossie Hollander to the Board, to serve as a Class III director for a three year term, until the third Annual General Meeting of Shareholders following the 2011 Annual Meeting. The shareholders also approved the appointment of Mr. Gideon Hollander to serve as active Chairman of the Board for a period of up to three years (assuming that he continues to serve on the Board throughout such time) while he concurrently continues to serve as co-Chief Executive Officer (or other principal executive officer) of the company.