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BLACKBAUD CEO'S PAY SINKS

 Marc Chardon, BlackbaudBlackbaud's executives generally had a good year in compensation last year, except for CEO Marc Chardon after directors changed his compensation plan to base stock awards more on performance than on time. That happened after 53 percent of shares were voted against the compensation plan last year.
Before the 2011 annual meeting, Blackbaud issued a letter to shareholders in which it noted institutional proxy advisory services had advised a “no” vote, an unusual step. And Chardon’s 2001 pay dropped to $3.1 million from $5.6 million when he received no option awards, compared to $2.8 million in pay from that category in 2010. His stock award increased to just under $2 million from $665,685 the prior year. Otherwise, Charles T. Cumbaa, president of the enterprise customer business unit, received $1.1 million in 2011, up from $915,622 a year earlier. The change was primarily because his $460,759 in stock awards was up from $233,134. Kevin W. Mooney president of the general markets business unit earned $1.27 million, up from 1.2 million. Jana Eggers, SVP of products and marketing joined in 2010 and made $414,757. For 2011, her first full year with Blackbaud, her pay was $1.25 million with  a base salary of $307,500, $490,390 in stock awards, $308, 992 in option awards and  $131,364 in non-equity incentive compensation. Long-time CFO Timothy Williams, who retired during last year, earned $430,653. His replacement, Anthony Boor, was paid $848,297, primarily from stock and equity awards. Blackbaud also exchanged several letters with the SEC in 2011. Among the issues was Blackbaud's stance that it had not submitted executive employment agreements, claiming they were a standard form for all employees. The SEC rejected that position and the agreements were filed.
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