Prince v. Bensinger

MARVEL, Vice Chancellor:

The complaint herein, which is derivatively filed by two stockholders of Brunswick Corporation, attacks the propriety of certain bonus payments made to the individual defendants and other key employees of the corporate defendant, said payments being attacked on the general ground of excessiveness and on the specific ground that they were computed on the basis of allegedly fictitious corporate earnings of some $140,000,000 reported by Brunswick for the years 1961 and 1962. Such bonus payments were allegedly made under the provisions of a 1956 plan which authorized the…