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SVP EGGERS LEAVING BLACKBAUD Featured

Jana B. Eggers, BlackbaudJana B. Eggers, SVP of products and marketing, is leaving Charleston, S.C.-based Blackbaud on October 3. This news came in an SEC filing with the usual terse wording of such announcements. Eggers had been with the nonprofit accounting software vendor for nearly three years, having started in November 2010. She was CEO of a company called Spreadshirt from October 2006 through November 2010.

Of more interest to this crowd is her prior employer, Intuit, where she worked from April 2002 through October 2006, finishing up a general manager for QuickBase for the last three years and five months. The official announcement mentioned separation payments under management transition retention agreement dated March 15. That agreement talks about top executives' separation in case they leave within 12 months after the hiring of a new CEO. Right now, CFO Tony Boor, also covered in the agreement, is acting CEO. Does this mean there's an announcement in the offing (and just where do you find offings anyway?) The package includes 18 months base salary, a prorated share of the target bonus for the year of departure, payment of 12 months COBRA premiums; as 12 months accelerated vesting each officer's outstanding and unvested stock options and other equity awards. Eggers base salary is $375,000 for 2013. Eggers' compensation for 2012 was $1.37 million, including option and stock awards. The word bonus was used loosely in the agreement since Eggers got $155,470 in non-equity incentive compensation, which is technically not a bonus.

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