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Midway offers bonuses for $30m sale

Thu 16 Apr 2009 7:50am GMT / 3:50am EDT / 12:50am PDT
Business

Target amount set for sale of assets, with incentives for key employees laid out

Midway Games has set a "target amount" of USD 30 million for the sale of the company's assets, with bonuses to be paid out to key employees if the sum is secured.

As part of the foundering publisher's revised incentive plan, select employees are entitled to share in a cash reward pool of up to USD 600,000. Midway will pay personnel a further USD 1 million once the sale of the company closes.

In addition to this, every USD 1 million over the target sale mark will reward employees with an additional USD 75,000, reports Gamasutra.

Earlier this month, Midway was forced to revise its earlier incentive plans which were deemed to be too generous by hostile creditors.

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