Teed Off
Protection Guaranteed
Final Bonus Round
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$99,000So CEO Kevin Boyce can play golf, Molson Coors Brewing covers a “onetime initiation fee in an amount not to exceed 15 percent of his current base salary.” Based on Boyce’s 2007 salary, the fee could be $99,000.
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$35,000Paris Reece III stepped down as CFO of MDC Holdings in August and got five months’ access to Colorado’s Glenmoor Country Club, where initiation fees total $35,000.
$300,000When Countrywide’s No. 2 executive, David Sambol, signed a contract two years ago, the now-defunct mortgage giant agreed to pay his initiation fee—which may have been as high as $300,000—at California’s Sherwood Country Club.
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