KIEP is a Key Incentive Employee Program that pays bonuses to 5 Senior Management.
KERP is a Key Employee Retention Plan that pays bonuses to a range of non insider Employees to keep them employed with WIN during the Chapter 11.
There is nothing that directly applies to WIN Common Shareholders, however indirectly the Employees of WIN would be more motivated to remain with WIN if the Company announced that the Common Shares in their 401-Ks will not be cancelled.
In my view a cancellation of the Commons would contradict the purpose of the KERP.