Bottomline execs get hefty raises

October 25, 2005

NH Business Review Staff,

Bottomline Technologies Inc.’s top two executives received nearly 30 percent more in total compensation in fiscal year 2005 from the previous year, according to a proxy statement filed Oct. 20 with the Securities and Exchange Commission.

The Portsmouth company, which specializes in payroll technology, paid CEO Joseph L. Mullen a total compensation of $1.3 million fiscal year 2005, which ended June 30, including options valued at more than $825,000. That’s an increase of 28 percent from the previous year.

CFO Robert A Eberle, who also took over Mullen’s title of president in August of 2004, took more than $1.18 million, including options valued at more than $732,000, a 30 percent increase over the previous year.

The filing noted that the compensation package reflected company performance goals.

A performance graph showed that the company’s stock — which had been performing below both Nasdaq and the Nasdaq Computer and Data Processing indexes — had roughly caught up to those indicators in June 2005. — BOB SANDERS

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