Trustee Drops Unilife Bonus Plan Fight After Testimony By Vince...

Trustee Drops Unilife Bonus Plan Fight After Testimony
By Vince Sullivan

Law360, Wilmington (May 8, 2017, 6:58 PM EDT) -- The U.S. trustee ended its challenge to the $1.1 million key employee incentive plan of bankrupt medical device maker Unilife Corp., after its CEO took the stand Monday in Delaware to explain the criteria for the bonus payments.

During a hearing in Wilmington, Unilife President and CEO John Ryan elaborated on the operational incentives he and three other executives must meet to qualify for the $1.1 million in bonus payments. The trustee had objected to the plan last week because of a lack of information about...

https://www.law360.com/delaware/art...rops-unilife-bonus-plan-fight-after-testimony