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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 Board’s
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.
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