Clarification – Correction Notice
December: What the Boss Makes
A chart on golf-association executive pay incorrectly included deferred compensation for PGA Tour executives that was paid out in years 2000 and 2001 but was not earned in 1999 (the most recent tax returns available). Excluding that money, the value of the 1999 compensation packages are listed below.
SALARY, LONG-
BONUS & TERM
NAME BENEFITS PAY
Tim Finchem $2,119,238 $600,000
PGA Tour
Commissioner
Charlie Zink $736,314 $185,000
PGA Tour Executive VP/
Chief Financial Officer
Ed Moorhouse $729,504 $185,000
PGA Tour Executive VP
and Chief Legal Officer
Ron Price $442,013 $104,917
PGA Tour Senior VP/
Finance & Administration
Donna Orender $437,229 $104,917
PGA Tour Senior VP/TV
PRODUCTIONS/NEW MEDIA
Bill Calfee $378,031 $108,168
PGA Tour Executive
VP/ CHIEF OPERATING
OFFICER BUY.COM TOUR
Henry Hughes $304,676 $56,667
PGA Tour SENIOR VP/
CHIEF OF OPERATIONS
Bob Combs $312,594
PGA Tour Senior VP/
COMMUNICATIONS & PR
TOTAL
PAID RETIREMENT
NAME IN ’99 BENEFITS[*]
Tim Finchem $2,719,238 $1,187,806
PGA Tour
Commissioner
Charlie Zink $921,314 $68,146
PGA Tour Executive VP/
Chief Financial Officer
Ed Moorhouse $914,504 $74,749
PGA Tour Executive VP
and Chief Legal Officer
Ron Price $546,930 $32,994
PGA Tour Senior VP/
Finance & Administration
Donna Orender $542,146 $8,000
PGA Tour Senior VP/TV
PRODUCTIONS/NEW MEDIA
Bill Calfee $486,199 $28,329
PGA Tour Executive
VP/ CHIEF OPERATING
OFFICER BUY.COM TOUR
Henry Hughes $361,343 $8,000
PGA Tour SENIOR VP/
CHIEF OF OPERATIONS
Bob Combs $312,594 $8,000
PGA Tour Senior VP/
COMMUNICATIONS & PR
[*] In 1999 the PGA Tour accrued a fixed amount of retirement benefits
payable after age 65. The amount accrued assumes that the employee
works until age 65, and such amount relative to 1999 would be
significantly lower if the employee leaves the tour prior to age 65.
COPYRIGHT 2002 New York Times Company Magazine Group, Inc.
COPYRIGHT 2002 Gale Group
