Kodak Executives Want Bonuses
By: WROC-TV
Updated: August 23, 2012
Kodak executives have filed a motion in bankruptcy court to implement certain bonuses should they be approved.
Kodak says this is part of its bankruptcy proceedings and it involves key senior leaders with the company.
The issue has to do with a performance based incentive plan and the success of the debtors restructuring.
The employees eligible to participate in the plan would include 15 members of a leadership team. The amount paid to eligible employees would range from zero percent to 200 percent of a participant's target award.
The company says the money handed out could not exceed a maximum of $8.8-million-dollars.
Kodak says this is part of its bankruptcy proceedings and it involves key senior leaders with the company.
The issue has to do with a performance based incentive plan and the success of the debtors restructuring.
The employees eligible to participate in the plan would include 15 members of a leadership team. The amount paid to eligible employees would range from zero percent to 200 percent of a participant's target award.
The company says the money handed out could not exceed a maximum of $8.8-million-dollars.
Comments
Why would you give bonuses to people who have either been around long enough to drive the company into bankruptcy or didn't do what was needed to keep them out of bankruptcy? These people can be considered grossly over paid in good economic times, now they don't even deserve a portion of what they make. Take the money and put it towards the retiree's benefits. They are the ones who worked hard to keep Kodak going, not the greedy ones at the top.
Nancy N.
July 12, 2012 at 1:25 pm
