The trustee is asking the court to reject a $1.8 million bonus plan to nine insiders that it says is an employee retention plan disguised as an incentive bonus plan. All the insiders have to do to earn the bonus, it argues, is have the bankruptcy plan be declared effective one month after it had already committed to making the plan effective under their deal with the lenders and meet the cash receipts covenant in the DIP financing. Since retention bonuses for insiders are limited to 10X ... Log in to view full article.