Kmart seeks approval of $1 million salary for CEO

| Friday, April 05, 2002

Kmart Corp. is seeking U.S. Bankruptcy Court approval of Chief Executive Officer James Adamson's proposed $1 million salary. Adamson also could receive a $4 million bonus if Kmart emerges from bankruptcy before its July 31, 2003, company goal. Adamson already received $2.5 million when he was hired in January to lead the retailer's reorganization under Chapter 11 bankruptcy.

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