Exide Technologies Inc. won court approval to pay more than $16 million in bonuses to employees to help ensure the battery maker is able to carry out its restructuring plan, Dow Jones Newswires reported yesterday. Bankruptcy Judge Kevin J. Carey signed off on Tuesday on the three bonuses plans, under which unnamed insiders will get payouts of $16.1 million if targets are reached and 51 noninsiders will get $1.63 million. The company, which manufactures and recycles lead-acid batteries, has battled with the Environmental Protection Agency and a number of state regulators which want to make sure Exide won't skirt environmental liabilities through its bankruptcy case.
