Bottomline execs get hefty raises

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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