KEY EMPLOYEE RETENTION PLAN

Key Employee Retention Plan: These plans were traditionally put in place in bankruptcy cases as incentives to upper management to continue working for the debtor throughout the bankruptcy. KERPs have been substantially curtailed under the 2005 amendments to the bankruptcy code. (Bernstein's Dictionary of Bankruptcy Terminology)

Key Employee Retention Plan: These plans were traditionally put in place in bankruptcy cases as incentives to upper management to continue working for the debtor throughout the bankruptcy. KERPs have been substantially curtailed under the 2005 amendments to the bankruptcy code.