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PBI » Topics » Companys Right to Terminate.

This excerpt taken from the PBI 10-K filed Mar 13, 2006.
Company’s Right to Terminate. The Board or the Executive Committee may at any time terminate the Plan with respect to future Participation Agreements and Stock Option Gain Agreements. The Board or the Executive Committee may also terminate the Plan in its entirety or in part at any time for any reason, including without limitation if, in its judgment, the continuance of the Plan, the tax, accounting, or other effects thereof, or potential payments thereunder would not be in the best interests of the Company, and upon any such termination, the Company shall immediately pay to each Participant in a lump sum the accrued balance in his Account (determined as of the most recent Valuation Date preceding the termination date).

 


EXHIBIT (vi)

Page 23 of 24

 

 

"Companys Right to Terminate." elsewhere:

SOTHEBYS (BID)
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