Kodak Proposes Bonus For Its 300 Executives And Other Employees

Posted on Apr 9 2012 - 10:39am by Editorial Staff

The bankrupted Kodak is seeking permission to pay its 300 executives and other employees a total of $13.5 million in bonuses in order to let them stay with the company. The company said that the targeted employees having required knowledge and skills that is require helping them curb the issue raised. The Company has made pioneering investments in digital and materials deposition technologies in recent years, generating approximately 75% of its revenue from digital businesses in 2011. Kodak has obtained a fully-committed, $950 million debtor-in-possession credit facility with an 18-month maturity from Citigroup to enhance liquidity and working capital. The credit facility is subject to Court approval and other conditions precedent.

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