The 20 high-level workers earned a total base pay of $2.49 million before the bonuses. One of the executives earned a base annual salary of $206,499 and received a $30,000 incentive under the court order handed down on Feb. 22 by U.S. Bankruptcy Judge Mary F. Walrath in Delaware.
Another executive earning $189,000 in base pay was awarded a $20,000 bonus and a third, who earned $190,800, received $15,000 more…
Court documents referred to the bonuses as a “Key Employee Incentive Plan.” The ruling determined the payouts to be “in the best interests of the Debtors, their creditors and all other parties in interest.”
Join the conversation as a VIP Member