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PBI » Topics » 2007 Long-Term Incentive Payout (Cash Incentive Units 2005-2007 Performance Period)

This excerpt taken from the PBI DEF 14A filed Mar 27, 2008.

2007 Long-Term Incentive Payout (Cash Incentive Units 2005-2007 Performance Period)

At its February 2008 meeting, the Committee determined the CIU payout for the 2005-2007 cycle. The targets for the 2005-2007 CIU cycles were adjusted three-year earnings per share of $8.00 and adjusted free cash flow of $1.798 billion and actual performance was adjusted three-year earnings per share of $7.87 and adjusted free cash flow of $2.320 billion. The TSR modifier decreased the payout level by 12.2% resulting in a final payout of $1.12 per unit, which represents an above-target level of performance.

The following table outlines the long-term CIU targets for each of the named officers for the 2005-2007 performance period and the actual CIUs earned and paid in February 2008.

 

25

Name   Cash Incentive Units Target (2005-2007)             Amount Earned and Paid
Murray D. Martin                   
$
800,000                              
$
896,000           
   President and Chief    
       
   
   Executive Officer    
       
   
                     
Michael J. Critelli    
$
1,500,000
     
$
1,680,000
 
   Executive Chairman and    
       
   
   former Chairman and CEO    
       
   
                     
Bruce P. Nolop    
$
550,000      
$
616,000  
   EVP and Chief Financial Officer    
       
   
                     
Patrick J. Keddy    
$
191,667      
$
214,667  
   EVP and President,    
       
   
   Mailstream International    
       
   
                     
Michael Monahan    
$
183,333      
$
205,333  
   EVP and President,    
       
   
   Mailing Solutions and Services    
       
   
                     
Leslie Abi-Karam    
$
183,333      
$
205,333  
   EVP and President, Document    
       
   
   Messaging Technologies    
       
   
                     
Kevin S. Weiss    
$
200,000      
$
224,000  
   EVP and President,    
       
   
   Mailstream, the Americas    
       
   

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