Nursing home operator Genesis Healthcare Inc. won bankruptcy court approval to put in place three seven-figure employee bonus programs after revising incentive structures for compensating top executives.
Genesis has shown that an amended proposal to award bonuses to senior managers has meaningful performance metrics and should be implemented to keep the company operating successfully as it looks to close on a $1 billion Chapter 11 sale in the coming months, Judge Stacey Jernigan ruled at a hearing Tuesday in the US Bankruptcy Court for the Northern District of Texas.
“I do think its appropriate to incentivize these people to keep ...
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