In house counsel rarely get the opportunity to earn a significant amount of incentive compensation. However, of any item in the news flow for the last 12 months, the court victory that Bruce Leicher helped to achieve over Amphastar probably did the most to save our bacon as stockholders. Give him a break.
I strongly disagree. This is the kind of bonus that is deserved.
First, the intensely fought litigation doubtless required Mr. Leicher to put in many additional hours of work (probably including weekends) on top of his normal schedule. While the bulk of the work was done by outside counsel, Mr. Leicher would have been heavily involved, particularly in crafting the litigation strategy and coordinating with MNTA employees on their affidavits.
Second, bonuses should be payable for extraordinary results that dramatically increase shareholder value. There is no need to elaborate on this, since the facts are well known.
The amount of the bonus seems entirely reasonable under the circumstances.
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