jrock - 1/2 of the bonus money isn't disbursed until after Phil (and the other players?) tee it up in an event they haven't played in the previous 5 years. Smacks of appearance money. Maybe it's designed to be a upper cut to the proposed alternate league being pimped by Greg Norman in Saudi Arabia?
I wonder if Tiger also needs to play a tournament he hasn't appeared in the last 5 years in order to get his other 1/2 of the PIP bonus or will a 'waiver' will be created for him if he's not ready for competitive golf. On the other hand, he could simply play for two rounds and have a missed cut - it's like he's never missed one before in his illustrious career.