As I have tried to state, I don't think management should not receive anything additional to do their jobs. They have been paid generous salaries and options for years. No other management team in international arbitration is being given something like this. That I believe should be the crux of any statement to Judge Newbould. I would also add that if they are to receive anything additional, then it must be known why they are entitled to anything additional. In this case it is stated that it is only because they have allegedly threatened to leave if not incentivized. But they have never said this directly and they have never been questioned about it Require them to swear under penalty of perjury that they will leave if not appropriately incentivized. Only then is the discussion of incentives relevant. I would further add to the judge that if the are deserving of anything additional, this determination should be made by the shareholders and not by Judge Newbould and not until after the arbitration is concluded. Show me any comparable situation where there is a determination of incentives before any result.

Finally, I don't think any statement by the shareholders as to a specific percentage will hold sway with the judge. Rather, I think the arguments above are more appropriate because they don't assume that management has stated they would leave if not incentivized or that any incentives are necessary or that they need to be determined at this time or by the judge rather than the shareholders. The other thing I believe you could say to the judge is that before any determination is made, you would request that he consider appointing to represent the shareholders on this issue, to be paid for by the company, and that the hearing date on the compensation plan be pushed back 30 -45 days.

JMHO

By the way, any group that opposes the proposed winning bidder and which wants its own bid accepted may very well oppose the incentive plan because the 10% will affect the percentage of the award that such group will propose that it receive.