Retired Hertz Execs Attack Proposed $14.6M Ch. 11 Bonuses

Law360 (September 10, 2020, 10:44 PM EDT) -- A group of retired Hertz executives objected Thursday to a Chapter 11 proposal to shell out $14.6 million in bonuses, asserting the car rental giant is attempting to "continue doling out cash" to favored employees while deferred compensation promised to the retirees goes up in smoke.

The retired executive group, or REG, says its members deferred compensation in return for Hertz Global Holdings Inc.'s promises to pay such as retirement benefits and that they have been "seriously and adversely" impacted by the bankruptcy cases.

The group urged a Delaware bankruptcy court to nix the incentive plans proposed last month because they...

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