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This excerpt taken from the PBI 10-K filed Aug 14, 2006. retention ratio is 75% of “net profit shares.” The Covered Executives are expected to hold 75% of the shares remaining after payment of
the option price and taxes owed upon exercise and/or hold 75% of newly vested shares of restricted stock after the payment of applicable taxes until the multiple of salary requirement is met. Under the policy, restricted stock, as well as shares
underlying unexercised stock options, will not be counted as shares owned by an executive prior to vesting of the restricted stock or exercise of the stock options. After the multiple of salary requirement is met, a Covered Executive may sell shares
acquired previously in the market as well as shares acquired through the exercise of stock options or the vesting of restricted stock awards.
This excerpt taken from the PBI DEF 14A filed Mar 23, 2006. retention ratio is 75% of “net profit shares.” The Covered Executives are expected to hold 75% of the shares remaining
after payment of the option price and taxes owed upon exercise and/or hold 75% of newly vested shares of restricted stock after the payment of applicable taxes until the multiple of salary requirement is met. Under the policy, restricted stock, as
well as shares underlying unexercised stock options, will not be counted as shares owned by an executive prior to vesting of the restricted stock or exercise of the stock options. After the multiple of salary requirement is met, a Covered Executive
may sell shares acquired previously in the market as well as shares acquired through the exercise of stock options or the vesting of restricted stock awards.
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