Full title: Order Granting Motion for Order Approving Key Employee Retention Plan and Key Employee Incentive Plan(Related Doc # 81) (Whitney MNB) (Entered: 02/24/2021)
Document posted on Feb 23, 2021 in the bankruptcy, 2 pages and 0 tables.
UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF MINNESOTA
Case No.: 21-30037
Tea Olive I, LLC d/b/a Stock+Field,
Chapter 11 Case
ORDER APPROVING KEY EMPLOYEE RETENTION PLAN AND KEY EMPLOYEE INCENTIVE PLAN
This case is before the court on the Motion for Order Approving Key Employee Retention Plan and Key Employee Incentive Plan (the “Motion”) filed by the above-captioned debtor (the “Debtor”). Based on the Motion and the record,
IT IS ORDERED:
1. The Key Employee Retention Plan (the “KERP”) is approved on the terms described in the Motion and contained in the form attached as Exhibit A to the Motion.
2. The Debtor is authorized to take any and all actions necessary or appropriate to implement the KERP and to make all payments provided for under the KERP.
3. The Key Employee Incentive Plan (the “KEIP”) is approved on the terms described in the Motion and the Unsworn Declaration of Steven R. Kinsella [Docket No. 166] and contained in the form attached as Exhibit 1 to the Unsworn Declaration of Steven R. Kinsella.
4. The Debtor is authorized to take any and all actions necessary or appropriate to implement the KEIP and to make all payments provided for under the KEIP.
5. All amounts earned and payable under the KERP and KEIP shall have administrative expense priority under sections 503(a) and 507(a)(2) of the Bankruptcy Code for NOTICE OF ELECTRONIC ENTRY AND
FILING ORDER OR JUDGMENT
all purposes in the above-captioned bankruptcy case, regardless of whether or not the bankruptcy case is later converted to a case arising under a different chapter of the Bankruptcy Code.
6. Notwithstanding Bankruptcy Rule 6006(h), the terms and conditions of this order shall be immediately effective and enforceable upon its entry.
/e/ William J. Fisher
Dated: February 24, 2021
William J. Fisher
United States Bankruptcy Judge