Leadership & Pay ·
Adopts $20M+ threshold bonus plan for sale of subsidiary 1st Detect
ASTCASTROTECH Corp
Astrotech Corporation's board approved a new transaction incentive bonus plan for its wholly-owned subsidiary, 1st Detect. The plan establishes a bonus pool equal to 20% of the net proceeds from a 'Sale Transaction,' payable only if the transaction value equals or exceeds $20 million. Awards are granted at the administrator's discretion to selected key employees and must be paid within 30 days of receiving sale proceeds, contingent on continued employment. The company also amended its existing Transaction Bonus Plan to remove the sale of major subsidiaries from qualifying events. Astrotech Corporation operates in the technology sector.