Hostess CEO Could Get $2M Perk Under Employment Deal

Law360, New York (February 8, 2012, 6:31 PM EST) -- Hostess Brands Inc. CEO Brian J. Driscoll, who devised the bankrupt company's business restructuring plan, had considered abandoning Hostess unless he was assured that he could receive a $2 million payment in the future under a noncompete agreement, according to a court filing Tuesday.

Driscoll is also poised to receive a $1.5 million salary, annual short-term cash incentive awards and a long-term performance-based bump of $2 million, according to the filing in New York bankruptcy court. Hostess asked the court to let it adopt Driscoll's employment...
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