This excerpt taken from the PVTB DEF 14A filed May 4, 2009.
Board and Committee Meetings
During 2008, the Board of Directors met 13 times, the Compensation Committee met 15 times, the Nominating and Corporate Governance Committee met 9 times, the Audit Committee met 21 times, the Business Risk Committee met 3 times and the Executive Committee met 6 times. Each of the directors of the Company attended at least 75% of the total number of meetings held of the Board and Board committees on which such director served during fiscal year 2008.
The Board of Directors met in executive session in April, June, September, October and December 2008. The Board of Directors meets in regularly scheduled executive sessions at least twice annually, usually at its June or July meeting and again at its December meeting. The Boards policy is that the chairman of the Nominating and Corporate Governance Committee, or in his absence the chairman of the Audit Committee, presides at executive sessions of the Board. In February 2009, the Board appointed Mr. Guyette as lead independent director.