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This excerpt taken from the PBI DEF 14A filed Apr 3, 2007. Other Awards The current United
States federal income tax consequences of other awards authorized under the 2007
Plan are generally in accordance with the following: (i) restricted stock is
generally subject to ordinary income tax at the time the restrictions lapse,
unless the recipient elects to accelerate recognition as of the date of grant;
(ii) stock unit awards are generally subject to ordinary income tax at the time
of payment, and (iii) unrestricted stock awards are generally subject to
ordinary income tax at the time of grant. In each of the foregoing cases, the
company will generally be entitled to a corresponding federal income tax
deduction at the same time the participant recognizes ordinary income.
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