In addition to millions in proceeds from their stock holdings, huge sums from change of control and severance payments, Gentiva senior leaders will get a share of $10 million in executive bonuses:
The Company’s core management team (as determined by the Compensation Committee of the Company’s Board of Directors) will be eligible to receive bonuses from a $10 million executive bonus pool to be allocated at the sole discretion of the Compensation Committee. At least a significant minority of such bonus pool will be allocated to core management team members other than the Executive Chairman.As for employees (who created the value for which Kindred bid extra), we're to keep our head's down and slave away. There is no bonus pool for us.
In addition, subject to the sole discretion of the Compensation Committee, the Executive Chairman will receive for 2014 and 2015 bonus payments in the ordinary course (apart from the timing of payment), both of which will be payable on or before Closing. If these ordinary course bonus payments are paid to the Executive Chairman, the amounts paid will be in the discretion of the Compensation Committee but will not exceed $2 million for 2014 and $1 million for 2015.
Executives will also benefit from the acceleration of restricted stock, options and performance cash awards. Employees will receive the benefit of "being part of a stronger, larger company and the greater career and professional development opportunities created by the transaction." Yipppeeee!
Anonymous (from Gentiva)