Hertz Gets Ch. 11 Approval For $8.2M Exec. Bonuses

Law360 (October 20, 2020, 7:50 PM EDT) -- A Delaware judge on Tuesday approved The Hertz Corp.'s plan to award up to $8.2 million in executive bonuses after previously criticizing the car rental giant's prior proposal to award even more bonuses as part of its Chapter 11, saying the revised incentive plan is appropriate.

During a hearing held virtually, U.S. Bankruptcy Judge Mary F. Walrath ruled that Hertz proved that revised performance benchmarks that will trigger the bonuses "were properly set up so that none of them is a layup."

"There is no certainty that they will be met," Judge Walrath said. She added that the employee incentive plan...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!