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PNC » Topics » Benefits under the Amended 1996 Plan

This excerpt taken from the PNC DEF 14A filed Mar 23, 2007.

Benefits under the Amended 1996 Plan

 

The Award Amounts, if any, that may be paid to Participants for the 2007 Award Period are not currently determinable. The Committee has the authority to reduce the Award Amounts payable in any given year from the amounts determinable under the 1996 Plan. See pages 30 to 33 of “Compensation Discussion and Analysis” for a description of the approach the Committee used to determine the Award Amounts paid in 2007 with respect to service in 2006. If the amended and restated 1996 Plan had been in effect during 2006, the use of the same approach by the Committee would have resulted in the payment to the executive officers of the same Award Amounts as they received under the current 1996 Plan, although the size of the maximum available Award Amount would have increased for each executive officer. Please see page 33 for information on the 2006 bonuses and the “New Plan Benefits” table below.

 

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