Hertz Seeks $5.4 Million in Executive Bonuses During Bankruptcy

Fourteen key executives of the car rental company, including CEO Paul E. Stone, would share as much $5.4 million in incentive pay under a proposal the company is asking the judge overseeing its bankruptcy to approve.

• Another 295 lower-ranking managers would split as much as $9.2 million under the bonus program, according to court papers filed Thursday in federal court in Wilmington, Delaware
• The request comes about three months after Hertz agreed to pay $16.2 million in retention bonuses to 340 employees just days before filing for bankruptcy
• The new bonus programs are tied to the company’s financial progress; depending ...