Dana Execs Win Up To $11M In Bonuses

Law360, New York (December 1, 2006, 12:00 AM EST) -- Despite rejecting Dana Corp.’s previous executive compensation plan, a federal judge has approved its new motion to reward six executives with up to $11 million in bonuses over the next two years.

If the bankrupt auto parts maker meets certain performance goals, Dana CEO Michael Burns will receive $6.75 million in cash and stock bonuses, while the other five executives will share up to $4.77 million in bonuses.

This stands in contrast to the $9.1 million in bonuses that Burns alone would have received under the...
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