Avaya's $3M Executive Bonus Plan Gets Judge's Approval
By Alex Wolf
Law360, New York (April 14, 2017, 3:37 PM EDT) -- Executives at bankrupt telecom giant Avaya Holdings Inc. can collect up to $3 million in bonuses for hitting earnings targets tied to this year’s fiscal second quarter, a New York bankruptcy judge ruled Friday, after the U.S. trustee’s office dropped its objection to the payouts.
U.S. Bankruptcy Judge Stuart M. Bernstein gave Avaya the go-ahead to implement a program that it has touted as an incentive driving outperformance by 11 “key executives” at an especially challenging time. The performance bonus plan has drawn scorn from former...