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This excerpt taken from the PBI DEF 14A filed Mar 27, 2008. Directors’ Fees. During 2007, each director who was not an employee of the company received an annual fee of $65,000 and a meeting fee of $1,500 for each board
and committee meeting attended. Directors who were elected to the board other than as of the May annual organizational meeting received a prorated annual fee. Committee chairs (except for the Audit Committee chair) receive an additional $1,500
for each committee meeting that they chair, and the Audit Committee chair receives an additional $2,000 for each Audit Committee meeting chaired. The Lead Director receives an additional annual retainer of $10,000.
All directors are reimbursed for their out-of-pocket expenses incurred in attending board and committee meetings. It is also our practice that when a director’s spouse or guest is invited by the company to attend a company-hosted event, the incremental costs of such spousal or guest travel are treated as income to the director and are “grossed up” by the company such that the director is made whole for the added income taxes payable by him or her as a result of such spousal or guest travel. In 2007, there were no “gross ups” paid to any director for spousal or guest travel. The board of directors maintains directors’ stock ownership guidelines, requiring, among other things, that each director accumulate and retain a minimum of 7,500 shares of company common stock within five years of becoming a director of Pitney Bowes. The directors’ stock ownership guidelines are available on the company’s website at www.pb.com under the caption “Our Company-Corporate Governance.”
This excerpt taken from the PBI DEF 14A filed Apr 3, 2007. Directors’ Fees. During 2006, each director who was not an employee of the company received an annual fee of $45,000 and a meeting fee of $1,500 for each board
and committee meeting attended. Committee chairs (except for the Audit Committee chair) receive an additional $1,500 for each committee meeting that they chair, and the Audit Committee chair receives an additional $2,000 for each Audit
Committee meeting chaired. During 2006, the Governance Committee reviewed the value and components of the directors’ compensation program, comparing it with the market for board of directors’ compensation. In November 2006, the Governance
Committee recommended and the board of directors approved an increase in both the cash and stock components of directors’ compensation. Effective January 1, 2007, the annual fee for non-employee directors was increased to $65,000 and
non-employee directors will continue to receive the same board and committee meeting fees. For a discussion of the increase in the stock component of directors’ compensation, please see below under the section entitled “Directors’
Stock Plan.” Effective as of January 1, 2007, the board of directors also approved an additional annual retainer of $10,000 for the Lead Director.
All directors are reimbursed for their out-of-pocket expenses incurred in attending board and committee meetings. The board of directors maintains directors’ stock ownership guidelines, requiring, among other things, that each director accumulate and retain a minimum of 7,500 shares of company common stock within five years of becoming a director of Pitney Bowes. The directors’ stock ownership guidelines are available on the company’s website at www.pb.com under the caption “Our Company-Corporate Governance.”
This excerpt taken from the PBI 10-K filed Aug 14, 2006. Directors’ Fees. During 2005, each director who was not an employee of the company received an annual fee of $45,000 and a meeting fee of $1,500 for each board and
committee meeting attended. Committee chairs (except for the Audit Committee chair) receive an additional $1,500 for each committee meeting that they chair, and the Audit Committee chair receives an additional $2,000 for each Audit Committee
meeting chaired.
All directors are reimbursed for their out-of-pocket expenses incurred in attending board and committee meetings. The board of directors maintains directors’ stock ownership guidelines, requiring, among other things, that each director accumulate and retain a minimum of 7,500 shares of company common stock within five years of becoming a director of Pitney Bowes. The directors’ stock ownership guidelines are available on the company’s website at www.pb.com under the caption “Our Company - Corporate Governance.” This excerpt taken from the PBI DEF 14A filed Mar 23, 2006. Directors’ Fees. During 2005, each director who was not an employee of the company received an annual fee of $45,000 and a meeting fee of $1,500 for each
board and committee meeting attended. Committee
chairs (except for the Audit Committee chair) receive an additional $1,500 for each committee meeting that they chair, and the Audit Committee chair receives an additional $2,000
for each Audit Committee meeting chaired.
All directors are reimbursed for their out-of-pocket expenses incurred in attending board and committee meetings. The board of directors maintains directors’ stock ownership guidelines, requiring, among other things, that each director accumulate and retain a minimum of 7,500 shares of company common stock within five years of becoming a director of Pitney Bowes. The directors’ stock ownership guidelines are available on the company’s website at www.pb.com under the caption “Our Company - Corporate Governance.”
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