Fuel Cell Energy gives pay hikes to three top executives

Danbury alternative-energy technology maker FuelCell Energy Inc. has handed pay raises to President and CEO Arthur "Chip'' Bottone and two of his lieutenants, a regulatory filing shows.

Starting Jan. 1, Bottone's annual base salary rose to $366,200, according to FuelCell's latest 8-K filing with the Securities and Exchange Commission. Bottone also is eligible for a fiscal 2012 bonus - paid either in cash or a combination of stock options and restricted stock -- equal to 90 percent of his base salary.

Bottone, who joined FuelCell in February 2010 as senior vice president and chief commercial officer, took over the CEO reins a year later from former longtime CEO Daniel Brdar, who is now chief operating officer with Petra Solar in New Jersey.

Chief Operating Officer Anthony Rauseo got a pay bump to $269,200 annually, while Chief Financial Officer Michael Bishop saw his pay climb to $228,100, the filing said.

Both are eligible for annual bonuses equivalent to 50 percent of the base pay, the filing said.

The filing did not disclose the executives' previous salaries.

FuelCell's board of directors approved the raises before Christmas, the filing said.

Source: Hartford Business.com