KA-CHING! CEOS GRAB RECORD PERKS
By Matthew Boyle

(FORTUNE Magazine) – WHILE CEOS DIDN'T GET A RECORD-breaking raise last year, they did get a big thank-you in the perks department. Overall pay rose a restrained 3.4%, to a median $7.4 million, according to data crunched exclusively for FORTUNE by compensation data provider Equilar. But so-called other annual compensation--which includes club memberships, cars, sports tickets, and the like--rose a full 30%, to $67,000.

Much of that jump was actually due to "perk audits," a new, increasingly popular process whereby vigilant corporate directors demand a full accounting of each benefit lavished on top management. Take Wells Fargo: In this year's proxy it readjusted the value of CEO Richard Kovacevich's 2003 perks from $1,513 to $102,179. (A Wells Fargo spokesperson says much of the difference was due to recent SEC commentary on personal use of the company aircraft.)

But even Kovacevich can't compete with Home Depot CEO Bob Nardelli, who rang up a wild $6.4 million in perks, primarily due to a forgiven loan (plus interest and tax payments) from 2000. Another notable case: Financial blog footnoted.org cites Kerr-McGee CEO Luke Corbett, who got $83,796 to "facilitate involvement in community activities." (Who knew volunteer work could be so lucrative?) Here's a look at the five best- and worst-paid CEOs in 2004. -- Matthew Boyle