Bottomline Tech execs take a pay cut

Money-losing year results in about $1 million less in their pay packages


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Bottomline Technologies Inc.’s top executives had their own bottom lines cut for the fiscal year that ended June 30.

The three executives’ compensation packages fell to a total just short of $4 million, compared to fiscal 2012, when they were paid more than $5 million. The eight-member board that approved the compensation also paid themselves a little more than a total of $1 million.

Board Chairman Joseph Mullen earned $227,000, as part of a deal dating back to 2010.

CEO Robert Eberle’s $2.3 million salary was about $700,000 lower than last year, nearly all due to a drop in his stock awards. His salary remained the same, and he did not receive a bonus. The package for Nigel K. Savory, managing director of Europe, was slightly under a $1 million, and chief financial officer Kevin Donovan’s pay just topped $625,000. Both Savory and Donovan’s packages were about $250,000 less than the previous year.

Meanwhile, the company posted a $14.4 million net loss last year, or about 41 cents a share, even though revenues were up and the company had enough cash to pay $109 million in buying two European firms in August.

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