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RMH Franchise Holdings – Court Approves KEIP, KERP, Severance Plan and Related Seal Motion

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August 2, 2018 – The Court hearing the RMH Franchise Holdings case approved the Debtors’ (i) key employee incentive plan (the “KEIP”), (ii) non-insider key employee retention plan (the ‘KERP”’) and (iii) non-insider severance plan (the “Severance Plan”) [Docket No. 415]. As previously reported [Docket No. 296], “The aggregate amount of the Target Bonuses for the KEIP Participants, assuming each benchmark is satisfied, is $875,000….The range of KERP Bonuses is $10,000 to $45,000 and the total potential aggregate payout under the KERP is approximately $360,000, inclusive of a $50,000 discretionary pool, which provides the Company with necessary resources for future allocations, upon notice to the Notice Parties, to certain hard-to-replace, non-senior management employees who are subsequently deemed to be important to the restructuring process, but who were not initially included amongst the original KERP Participants….The potential total cost of the Severance Plan for the 54 covered employees is $1,350,000.” The Court also approved the motion to file under seal certain confidential information and redact confidential information referenced in the KEIP/KERP motion [Docket No. 416].

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The post RMH Franchise Holdings – Court Approves KEIP, KERP, Severance Plan and Related Seal Motion appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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