Trustee Slams Kodak's $13.5M Retention Bonus Plan

Law360, New York (April 24, 2012, 5:14 PM EDT) -- The U.S. bankruptcy trustee for Eastman Kodak Co. urged a New York federal judge Monday to shutter the former photography equipment giant’s $13.5 million employee retention bonus plan, saying the recipients may include company insiders.

Trustee Tracy Hope Davis lodged an objection to Kodak’s April 4 motion describing an employee continuity plan that would split the money between two groups. Under the proposal, a group of 119 employees at the middle-manager level and above would get $8.5 million, while a second group of at least 200...
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