Retention Plan
Definition
In a chapter 11 bankruptcy reorganization, a plan that pays incentives to the debtor’s insiders to encourage them to remain employed with the debtor. Retention plans must meet the requirements of § 503(c)(1) to be approved.
Offer ends soon | Save 30% on all Quimbee Outlines ahead of final exams.
Too much turkey last week? Save $400 on Quimbee Bar Review+ from the comfort of your couch.
In a chapter 11 bankruptcy reorganization, a plan that pays incentives to the debtor’s insiders to encourage them to remain employed with the debtor. Retention plans must meet the requirements of § 503(c)(1) to be approved.