Toys “R” Us filed with the U.S. Bankruptcy Court a motion for entry of an order approving the Debtors’ senior executive incentive plan (SEIP).
The motion explains, “the Debtors developed the SEIP for 17 senior members of the management team as part of an overall compensation package that is both consistent with the Debtors’ historical compensation programs and offers payments similar to its peers….The total amount available for payment under the SEIP on an annual basis is $16 million at the Target Threshold….That amount could double if management attained its ‘stretch’ goal – a result the Debtors will find very difficult to achieve.”
In addition, “The SEIP Participants are at the forefront of the Debtors’ most important endeavours: executing on daily performance and leading Toys “R” US through its restructuring. The importance of having these individuals fully incentivized cannot be overstated.” The Court scheduled a December 5, 2017 hearing on the motion.
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