Tenet Healthcare Corp., Santa Barbara, Calif., paid Chairman and CEO Jeffrey Barbakow $727,592 for the last seven months of 2002, but Barbakow received no bonus or stock options during the period, the company said in a securities filing. Tenet reported on executive compensation for the seven-month period as part of its switch to a fiscal year beginning Jan. 1 from one beginning June 1. For fiscal 2002, which ended May 31, 2002, Barbakow was paid $1.2 million in salary, a $4.2 million bonus and nearly $250,000 in other compensation and was granted options to buy 1.5 million shares of Tenet stock. Barbakow plans to give up his title as chairman and step down from Tenet's board immediately prior to the company's July 23 annual meeting, although he will remain CEO, the filing said. According to the filing, in a letter last month Barbakow acknowledged that he would not receive a bonus for the last seven months of 2002 and waived his right to a pension benefit allowing him to accrue two years of service in Tenet's pension plan for each year of actual service. -- by Vince Galloro
$100,000 a month for Barbakow, but no bonus
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