U.S. Bankruptcy Court Judge Allan Gropper approved the company's EXCEL annual performance incentive plan Monday. It means up to $4.5 million will go to top executives and insiders. Also approved -- the company's Chief Operation Officer Lauren Quatela can receive between $600,000 and $1.5 million based on how much is made during the patent sale. Kodak postponed its request for a long-term incentive plan for senior executives when retirees opposed it.
About 280 Kodak managers are also a part of the EXCEL bonus plan which was approved earlier this year. Kodak held off on its request for executives until now.