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Valaris gets court approval to implement key employee incentive plan
By Sarah Lizee
Olympia, Wash., Dec. 1 – Valaris plc received court approval to implement a key employee incentive plan, according to an order filed Monday with the U.S. Bankruptcy Court Southern District of Texas.
The KEIP includes 12 members of the debtors’ senior management team.
The maximum for total award opportunities under the KEIP amounts to $10.98 million.
Valaris is a London-based offshore drilling company. The company filed bankruptcy on Aug. 19 under Chapter 11 case number 20-34114.
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