Kodak, Retirees Come To Terms On Benefits' End

Law360, New York (October 10, 2012, 9:05 PM EDT) -- Eastman Kodak Co. has reached a deal in principle with a committee of retired employees that brings an end to its retiree health care and survivor benefits liabilities and places it in a better position to emerge from Chapter 11, the company announced Wednesday.

Under the proposed agreement, Kodak says it will terminate the benefits — which include medical, dental, life insurance and survivor income benefits, as well as "other post-employment benefits," or OPEB — on Dec. 31.

In order to satisfy its $1.2 billion in...
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