Delphi Takes $4M Bite Out Of CEO's Bonus

Law360, New York (February 21, 2008, 12:00 AM EST) -- Auto parts maker Delphi Corp., recently ordered to slash the $87 million in bonuses earmarked for its executives, has begun with CEO Rodney O'Neal's incentive plan, cutting over $4 million from the proposed bonus.

In a filing with the U.S. Securities and Exchange Commission on Wednesday, Delphi said that it would pay O'Neal a $1 million bonus, a drastic reduction from the $5.3 million that the company had originally proposed.

Though O'Neal's cash bonus has been decreased, Delphi increased the proposed value of the stock options...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.