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INTUIT EXECS GET HEFTY PAY RAISES

Brad SmithIntuit gave executives hefty compensation increases for the year ended July 31, bringing them closer to their 2008 earnings. And CEO Brad Smith had a very good year as his $13.9 million in total compensation more than tripled what he got in 2009. That total compared to $3.7 million last year and $11.6 million in fiscal 2008. Smith had the same $800,000 base salary as in 2009. But he had $8.5 million in stock awards, compared to just over $2 million in 2009 and $4.9 million in 2008.

His option award of $3.1 million for 2010 compared to none in 2009 and $4.2 million for 2008. Under the executive incentive plan, he received $1.4 million, up from $65,418 a year earlier, but not up to the $1.7 million of two years ago. Four other executives also benefitted. CFO Neil Williams, had total compensation of $4.9 million for fiscal 2010, compared to $1.7 million in 2009 and $2.9 million in 2008. Kiran Patel, the EVP who heads Intuit's Small Business Group, received just over $7 million, up from $5.5 million the prior year and $3.5 million in 2008. Daniel R. Maurer, an SVP who manages the Consumer Group, had $3.8 million in compensation for 2010, his first year as a named executive. His pay included a salary of $475,000 and a $2.2 million stock award. Sasan Goodarzi got $3.5 million for his role as SVP and general manager of the Intuit Financial Services Division. The day after the compensation announcement, Intuit said Goodarzi was resigning to become CEO of Nexant, a privately held firm in the clean energy industry.

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