Frontier Gets Court Nod to Pay Key Employee Retention Bonuses

Frontier Communications Corp. received court approval to pay as much as $37.7 million in bonuses to encourage existing employees to remain with the company through its restructuring.

• U.S. Bankruptcy Judge Robert Drain approved a motion Friday for a key employee retention plan covering non-insider employees
• The plan contemplates paying as much as $14.7 million in retention bonuses and up to $21 million in performance bonuses, according to a court filing
  • The KERP also includes a $2 million reserve to retain employees not currently covered under the plan.
• Frontier lawyers said that they are still negotiating with creditors who objected to ...