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Borders Seeks To Pay Execs, Managers $8M In Bonuses

Law360 (March 25, 2011, 5:22 PM EDT) -- Borders Group Inc. asked a New York bankruptcy judge Thursday for permission to pay executives and managers roughly $8.3 million in bonuses, contending that the payouts would give them an incentive to remain with the bookseller during its reorganization.

In a motion filed in the U.S. Bankruptcy Court for the Southern District of New York, Borders sought to pay 25 nonexecutive managers roughly $1.2 million in incentives and 17 key executives bonuses starting at $4.7 million and possibly topping out at $7.1 million.

The payouts include...
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