Bankrupt Vertis Gets Nod For $4.3M Employee Bonus Plan

Law360, Wilmington (November 27, 2012, 8:05 PM EST) -- A Delaware bankruptcy judge overruled the objections of the U.S. trustee and signed off Tuesday on a bonus program that could pay Vertis Holdings Inc. employees as much as $4.3 million, saying that while the plan was overreaching and top-heavy, it provided motivation toward a defined goal.

Vertis argued its key employee incentive plan was necessary not only as requirement of its $258.5 million stalking-horse agreement with Quad/Graphics Inc. but as a means of insuring further deal conditions would be met, while the U.S. trustee questioned...
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