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INTUIT GENEROUS WITH EXEC BONUSES
Intuit CEO Brad Smith had a good month as directors approved a nearly   19-percent raise in base salary for the year ending April 30 and a   46-percent increase in bonus for fiscal 2010. We won't know complete   2010 compensation until proxies are issued later this year, listing any   stock and option awards. Smith's base jumps to $950,000 for fiscal  2011,  up from $800,000 for the most recently ended year.  
            
                
Of course, the   impact of rise has other implications as target bonuses are normally   calculated as a percentage of base salary so that should raise the 2011   bonus potential. His bonus for 2010 was $1.43 million, up from $828,000   the prior year. Since I have written a lot about the possible impact  of  the investment of Relational Investors on the company, it's only  fair to  say it looks like Smith has done well. After Relational bought  stock  and threatened a proxy feet for board seats, Intuit agreed to put   partner David Batchelder on the board late last year. It's a standard   tactic for the investment firm which has a reputation of ousting CEOs.   The message appears to be things are fine for Smith. None of the other   named executives got salary increases, but all got bonus increases. CFO   Neil Williams, had his base cut to $625,000 from $600,000, but his  bonus  was increased to $600,000 from $390,000 for fiscal 2009. Kiran  Patel,  EVP and GM of the small business group got a $985,000 bonus, up  from  $550,000 the prior year. Alexander Linter, who holds the same  position  with the Global Business Division, saw his bonus rise to  $470,000 from  $270,000. Sassan Goodarzi, head of the Financial Services  Division, drew  a bonus of $470,000, up from $290,000.            
                        
            
            
            
                       
            
                            
                
            
            
            
            
            
            
            
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