In an Aug. 31, 2007 story about compensation received by Paychex Inc.'s chief executive, Jonathan J. Judge, The Associated Press reported erroneously that he received two incentive bonuses and total compensation of $5.9 million for fiscal 2007.
Judge received one bonus of $1 million and had total compensation of $5.1 million.
A corrected version of the story appears below:
NEW YORK (AP) _ The president and chief executive of Paychex Inc., Jonathan J. Judge, received compensation for fiscal 2007 the company valued at $5.1 million, according to a proxy filing by the provider of payroll and human resources services on Friday.
Judge, 53, was paid $868,144 in salary and $1 million as an incentive bonus for the fiscal year ended May 31, according to a filing with the Securities and Exchange Commission.
Judge also was awarded stock and options that were valued by the company at about $3.2 million.
The Associated Press calculations of total pay include executives' salary, bonus, incentives, perks, above-market returns on deferred compensation and the estimated value of stock options and awards granted during the year.
Paychex is based in Rochester, N.Y. Its annual shareholder meeting will take place Oct. 3.
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