Updated 08/06/2012 02:55 PM
Judge Clears the Way for Kodak Executive Bonuses
A U.S. Bankruptcy judge ruled Monday that some top Eastman Kodak executives have the right to receive large bonus checks.
The bonus program will allow executives to get bonuses if creditors get some payback and if the company emerges from bankruptcy or is acquired.
The ruling will allow the company to distribute some $17.6 million in bonuses payable to 15 top executives.
CEO Antonio M. Perez could receive up to $4.4 million if unsecured creditors get back every dime they’re owed. If they get back 30 cents on the dollar, which is Kodak’s target, Perez would receive $2.2 million.