Pitney Bowes Inc. CEO Employment Agreement with Kurt Wolf (May 2025)

Annual base salary of $40,000, paid in accordance with the Company’s regular payroll policies, less applicable withholdings and other payroll deductions.

A target annual bonus of $500,000 (“Target Bonus”) which may be earned based on achievement of applicable performance goals established by the Board in accordance with the Pitney Bowes Key Employees Incentive Plan (the “Incentive Plan”), subject to your continued employment with the Company through the date of payment (or as otherwise provided in the Incentive Plan). Your Target Bonus will be subject to the terms and conditions of the Incentive Plan. Notwithstanding the foregoing, your Target Bonus for the 2025 fiscal year will be pro-rated to reflect your mid-year hire.

Eligibility for annual grants of long-term incentive awards (each an “LTI Award”) with an annual target opportunity of $3,000,000. Any such LTI Awards will be made in the Board’s sole discretion. For 2025, your LTI Award will take the form of a grant of stock options (“Options”) that will have a grant date value equal to $3,000,000 and will be granted on your Start Date (the “Grant Date”) pursuant to an award agreement in substantially the form attached hereto (the “Award Agreement”). One-third of the Options will have an exercise price equal to $12.00, one-third of the Options will have an exercise price equal to $14.00, and one-third of the Options will have an exercise price equal to $16.00. Notwithstanding the foregoing, in no event shall the exercise of the Options be less than the Fair Market Value (as defined in the Company’s 2024 Stock Plan (the “Stock Plan”) of a Share on the Grant Date. The Options will vest in equal installments on each of the first, second, and third anniversaries of the Grant Date subject to your continued employment as CEO through the applicable vesting date; provided that the Options will vest on an earlier termination due to death or Disability, your involuntary termination by the Company other than for Cause or Gross Misconduct after the first anniversary of the Grant Date, or on a qualifying termination in connection with a change in control of the Company, as set forth in the Award Agreement and the Stock Plan. The Options will expire on the fifth anniversary of the Grant Date. The Options will be granted pursuant to the Stock Plan and will be subject to the additional terms and conditions reflected in the applicable Award Agreement. Any shares received, after applicable withholding for taxes, pursuant to the Options will be subject to any share retention policy of the Company with respect to its officers or directors. For purposes of this paragraph, any capitalized term that is not otherwise defined herein shall have the meaning ascribed to it in the Award Agreement.

As of your Start Date, you will continue to serve as a member of the Board for no additional consideration. All of your currently-outstanding restricted stock units will remain outstanding and continue to vest in accordance with their terms, as set forth in the applicable award agreements.

As a condition of employment, you will be required to enter into and comply with a Proprietary Interest Protection Agreement in a form acceptable to the Company.

As an express condition of employment, you will be required to comply with applicable Company policies, including the Pitney Bowes Drug Free Workplace and Substance Policy Statement dated June 1, 1989.

You will provide the proper documents and information to complete required immigration control forms (1-9) within three business days of your Start Date.

You will not provide to Pitney Bowes, nor use in your employment with Pitney Bowes, any confidential documents or any confidential information concerning any business, technical or other matters of which you might be aware as a result of your former employment, or from any other party. If at any time you are in doubt about whether or not to bring with you any information or disclose any such information, you should resolve the situation by not disclosing or discussing any such information. Violation of this important instruction will be grounds for immediate dismissal by the Board.

You have advised us that you are not under any current or former agreement that prohibits you from being employed by Pitney Bowes or from performing any of the job duties and responsibilities for the position you are being offered. You understand that in the event such an agreement exists, Pitney Bowes has the right to end your employment or contest the agreement at its sole discretion. In addition, you understand and agree that your employment is “at-will”, which means that you or Pitney Bowes can end your employment at any time for any reason.