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PBI » Topics » Conversion of Gain Shares to Phantom Stock Units.

This excerpt taken from the PBI 10-K filed Mar 13, 2006.
Conversion of Gain Shares to Phantom Stock Units. As of the Date of Exercise, Gain Shares shall be converted to Phantom Share Units by dividing the amount of the aggregate Fair Market Value of the Gain Shares as of the Date of Exercise by the Fair Market Value of one share of Common Stock as of the Date of Exercise. The resulting number of Phantom Share Units shall be credited to the Participant’s Gain Share Account. Any fractional

 


EXHIBIT (vi)

Page 14 of 24

 

Phantom Share Unit that results from the- computations hereunder shall be rounded up to the nearest whole number.

 

Section 5.07

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