Hostess Seeks Bankruptcy Court Approval Of $1.5M Salary, $2M Bonus For CEO

NEW YORK - Bankrupt Hostess Brands Inc. on Feb. 7 moved in the U.S. Bankruptcy Court for the Southern District of New York for approval of an employment agreement with its current chief executive officer that would pay him $1.5 million annually, plus bonuses, arguing that he is crucial to helping the company proceed through bankruptcy in a positive manner (In Re: Hostess Brands Inc., No. 12-22052, Chapter 11, S.D. N.Y.). Full story on lexis.com