UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by Sutter Hill Ventures, A California Limited Partnership (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA 94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows: The Reporting Person is a venture capital fund. The principal business address of the organization in which such business is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA 94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. entity, organized under the laws of the State of California.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 1,269,239 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was working capital. The consideration for the Rights Offering Shares was $7,196,585.13.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of its investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Note 2.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 1,269,239 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $7,196,585.13.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for Tench Coxe,
Managing Director of the General Partner

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by Sutter Hill Entrepreneurs Fund (AI), L.P. (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

TheReporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such business is conducted) is as follows:  The Reporting Person is a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. entity, organized under the laws of the State of California.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The Reporting Person did not acquire shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”). The consideration for the Rights Offering Shares was $0.00.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of its investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Note 3.

(c) The Reporting Person did not have any transactions in the class of securities of the Issuer during the past sixty days.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for Tench Coxe,
Managing Director of the General Partner

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by Sutter Hill Entrepreneurs Fund (QP), L.P. (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. entity, organized under the laws of the State of California.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The Reporting Person did not acquire shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”). The consideration for the Rights Offering Shares was $0.00.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of its investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Note 4.

(c) The Reporting Person did not have any transactions in the class of securities of the Issuer during the past sixty days.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for Tench Coxe,
Managing Director of the General Partner

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by David L. Anderson (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 95,395 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $540,889.65.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 5.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 95,395 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $540,889.65.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for David L. Anderson

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by G. Leonard Baker, Jr. (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 101,305 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $574,399.35.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 6.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 101,305 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $574,399.35.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for G. Leonard Baker, Jr.

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by William H. Younger, Jr. (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 119,445 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $677,253.15.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 7.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 119,445 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $677,253.15.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for William H. Younger, Jr.

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by Tench Coxe (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 216,545 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $1,227,810.15.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 8.

(c) On August 8, 2008, the Reporting Person received 1,404 shares of Common Stock of the Issuer in lieu of cash payment for attending board and committee meetings. The Reporting Person is a member of the Board of Directors of the Issuer.

On September 12, 2008, the Reporting Person acquired the beneficial ownership of 216,545 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $1,227,810.15.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for Tench Coxe

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by Gregory P. Sands (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 30,035 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $170,298.45.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 9.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 30,035 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $170,298.45.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for Gregory P. Sands

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by James C. Gaither (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 23,416 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $132,768.72.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 10.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 23,416 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $132,768.72.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for James C. Gaither

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by James N. White (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 47,962 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $271,944.54.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 11.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 47,962 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $271,944.54.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for James N. White

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by Jeffrey W. Bird (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e) The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 31,457 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $178,361.19.

Item 4.

Purpose of Transaction

The Common and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 12.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 31,457 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $178,361.19.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for Jeffrey W. Bird

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by David E. Sweet (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 18,469 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $104,719.23.

Item 4.

Purpose of Transaction

The Common and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 13.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 18,469 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $104,719.23.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

1. Power of Attorney dated September 18, 2008.

2. Exhibit A.

September 22, 2008

Date

/s/ Robert Yin

Signature

Robert Yin, Attorney-in-fact for David E. Sweet

Name/Title

ATTENTION

Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

Item 1.

Security and Issuer

The class of equity to which this Schedule 13D (this “Schedule”) relates is the common stock, $0.01 par value per share (the “Common Stock”) of eLoyalty Corporation, a Delaware corporation (the “Issuer”), which has its principal place of business at 150 Field Drive, Suite 250, Lake Forest, Illinois  60045.

Item 2.

Identity and Background

(a)

This Schedule is filed by Andrew T. Sheehan (the “Reporting Person”).

(b)

The Reporting Person’s business address is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(c)

The Reporting Person’s present principal occupation or employment (and the principal business and address of any corporation or organization in which such employment is conducted) is as follows:  The Reporting Person is a Managing Director of a venture capital fund. The principal business address of the organization in which such employment is conducted is 755 Page Mill Rd., Suite #A-200, Palo Alto, CA  94304.

(d)

and (e)  The Reporting Person has not, during the past five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). The Reporting Person has not during the last five years been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)

The Reporting Person is a U.S. citizen.

Item 3.

Source and Amount of Funds or Other Consideration

The response to Item 5(c), below is incorporated herein by reference. The source of funds of the Reporting Person for the acquisition of the 3,842 shares of Common Stock in the rights offering that necessitated the filing of this Schedule (such shares, the “Rights Offering Shares”) was personal funds. The consideration for the Rights Offering Shares was $21,784.14.

Item 4.

Purpose of Transaction

The Common Stock and Series B Preferred Stock beneficially owned by the Reporting Person was acquired and is held for investment purposes.

The Reporting Person may also pursue other alternatives available in order to maximize the value of his investment in the Issuer. Such alternatives could include, without limitation: (a) the purchase of additional Common Stock in the open market, in privately negotiated transactions or otherwise, and (b) the sale of all or a portion of the Common or Series B Preferred Stock now owned or hereafter acquired by him.

Other than as set forth above in this Item 4, the Reporting Person has no other existing plan or proposal which relates to or would result in any of the matters enumerated in clauses (a) through (j), inclusive, of Item 4 of Schedule 13D.

Item 5.

Interest in Securities of the Issuer

(a) – (b) The responses to Items 7 – 13 of the cover page of the Schedule are incorporated herein by reference. Please also see Exhibit A Notes 1 and 14.

(c) On September 12, 2008, the Reporting Person acquired the beneficial ownership of 3,842 shares of Common Stock of the Issuer pursuant to a rights offering effective August 14, 2008 that expired on September 12, 2008, at $5.67 per share for a total of $21,784.14.

(d) The Reporting Person knows of no other person having the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares beneficially owned by such Reporting Person.

(e) Not applicable

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Other than as described in items 3, 4 and 5, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any person with respect to any securities of the Issuer, including, but not limited to, the transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies or any pledge or contingency, the occurrence of which would give another person voting or investment power of the securities of the Issuer.

Item 7.