convert BigE-masked.tif eps3:BigE-masked.eps
The resulting EPS file looks corrupted, with alternating horizontal bands of opaque and transparent image. Here's what an opaque and a transparent image look like, side by side:
The original input TIFF and output EPS files are here:
http://flexweb2.pageflex.com/engsup/pda ... masked.tif
http://flexweb2.pageflex.com/engsup/pda ... masked.eps