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This excerpt taken from the PL DEF 14A filed Apr 2, 2007. Other
Provisions. Investment
choices must be in 1% increments. An officer may transfer money between the
mutual funds on any business day. An officer may not transfer money into or out
of our common stock. An officer may elect to receive dividend equivalents on
deferred stock in cash, instead of having them reinvested. We do not provide
any above-market or preferential earnings rates, and do not guarantee that an
officer’s investments will make money.
If an officer terminates employment due to death or disability, the officer’s plan balance is paid immediately in a lump sum. Also, if an officer terminates employment before early or normal retirement under our pension plan, the officer’s plan balance is paid immediately in a lump sum, regardless of the officer’s other elections. Amounts invested in mutual funds are paid in cash. Amounts invested in our common stock are paid in shares of stock. |
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