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This excerpt taken from the PBI DEF 14A filed Mar 26, 2009. Base Salary We pay base salary to compensate named executive officers for performing the daily duties of their defined jobs in amounts that are competitive in the markets in which we operate. In general, the company aligns base salary for executives with reference to the competitive market median data for base salary. There is typically a range of pay approximately plus or minus 10% around the median data that is considered to be competitive, and actual salaries are generally within this range. Among the factors considered in determining the actual base salary for executives are:
Salaries are reviewed annually on a common review date. In 2008, Mr. Martin’s salary was increased by 6% due to his position relative to the market and to reflect his experience as chief executive officer. Mr. Critelli’s salary was decreased by 6% due to his change in position and responsibilities. Michael Monahan’s and Leslie Abi-Karam’s salaries were increased by 20% and 24%, respectively, due to the change in their roles and positions in the company. Mr. Monahan assumed the role of Executive Vice President and Chief Financial Officer. Ms. Abi-Karam was named Executive Vice President and President, Mailing Solutions Management. Patrick J. Keddy’s salary did not change. Bruce P. Nolop, our former Chief Financial Officer, left the company effective April 15, 2008. The Committee determined that there would be no merit increases for executives, including the named executive officers, in 2009 due to the current global economic environment. This excerpt taken from the PBI DEF 14A filed Mar 27, 2008. Base Salary We pay base salary to compensate executives for performing the daily duties of their defined jobs in amounts that are competitive in the markets in which we operate. In general, the company aligns base salary for executives with reference to the competitive market median data for base salary. There is typically a range of pay approximately plus or minus 20% around the median data that is considered to be competitive, and actual salaries are generally within this range. Among the factors considered in determining the actual base salary for executives are:
22 Salaries are reviewed annually on a common review date and managed to an overall merit budget. The size of merit increases is related to the individual’s performance rating, the position relative to the market, general economic conditions and organizational issues. In 2007, in connection with his promotion to chief executive officer, Mr. Martin’s salary was increased by 20%. In connection with his appointment as executive chairman, Mr. Critelli’s salary was decreased by 19%. Mr. Monahan and Ms. Abi-Karam’s salaries were increased by 20% and 13%, respectively, due to the change in their roles. Mr. Nolop and Mr. Weiss’ salaries were increased three percent and five percent, respectively, consistent with market conditions and their individual performance ratings. Mr. Keddy’s salary in U.S. dollars increased by 12% due primarily to exchange rate differences between the British pound and the U.S. dollar. Excluding the impact of the exchange rate, Mr. Keddy’s salary increase was approximately three percent. This excerpt taken from the PBI DEF 14A filed Apr 3, 2007. Base Salary. We pay base salary to compensate executives for performing the daily duties of their defined jobs in amounts that are competitive in the markets in which
we operate. In general, the company aligns base pay for executives with reference to the competitive market median data for base pay.
There is typically a range of pay approximately plus or minus 20% around the median data that is considered to be competitive, and actual salaries are generally within this range. Among the factors considered in determining the actual base salary for executives are:
Salaries are reviewed annually on a common review date and managed to an overall merit budget. The size of merit increases is related to the individual’s performance rating, the position relative to the market, general economic conditions and organizational issues. This excerpt taken from the PBI 10-K filed Mar 13, 2006. Base Salary. “Base Salary” means the base salary of a Participant described in Section 4.01 (ii) of the Plan in effect at the time of the deferral rather that in effect at the time of the election to defer.
Section 2.05 | EXCERPTS ON THIS PAGE:
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