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constituted reasonable compensation for purposes of section
280G(b)(4).
(iii) Mr. Kurczewski
Ms. Meyer identified six executives in her rebuttal report
that she considered comparable to Mr. Kurczewski in 1992. We
conclude that Mr. Durmit of General Instrument Corp. should be
disregarded because as noted we believe that company is not
comparable to petitioner. We conclude that the remaining five
executives are comparable.
For the reasons previously outlined, we use Ms. Meyer’s
computation of their 1992 compensation. However, an adjustment
is required to correct Ms. Meyer’s computation of the 1992
compensation of Mr. Baisley of W.W. Grainger, Inc. Ms. Meyer
included in Mr. Baisley’s 1992 compensation the entire amount of
a long-term incentive compensation payout made in 1992, even
though the payout covered services rendered in 3 fiscal years
(1990-92). Accordingly, a ratable portion of the payout is
removed from 1992 compensation, as described in greater detail in
a footnote to the following table, which summarizes the 1992
compensation of the executives determined to be comparable to Mr.
Kurczewski.
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