RadioShack Defends Plan For $1.4M In Executive Bonuses

Law360, Wilmington (April 20, 2017, 5:15 PM EDT) -- Bankrupt electronics retailer RadioShack on Thursday defended its plan to pay top-level employees incentive bonuses, saying the workers eligible for the payments are performing work above and beyond their normal responsibilities.

In its reply to the objections of the U.S. trustee and the committee of unsecured creditors, RadioShack's successor company, General Wireless Operations Inc., said that seven employees covered by the $1.4 million incentive bonus plan would have to work hard to meet the plan's criteria for earning the payments.

"To achieve the highest thresholds for...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.