Bankrupt Avaya Seeks Use Of Up To $3.7M For Exec Bonuses

Law360, New York (March 2, 2017, 5:38 PM EST) -- Telecommunications provider Avaya Holdings Inc. asked a New York bankruptcy court on Wednesday for permission to pay up to $3.7 million in this year's fiscal second quarter to 11 "key" executives as part of an incentive program to help it outperform earnings targets.

Avaya, which filed for Chapter 11 protection in January, said that maintaining its practice of doling out quarterly incentive bonuses to the members of its executive committee dovetails with its overriding goal of swiftly completing its reorganization while preserving company value and improving recoveries.

The company's "key employee incentive program" envisions a maximum award pool of about $3.7...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!