The amount seems unchanged from the original proposal, which the U.S. Trustee Program calculated could be up to $20.3 million. But RG Steel altered the proposal to make some of the payments contingent on sales of its facilities to buyers who intend to operate them.
Workers are hoping for a buyer to restart idling facilities. RG Steel is laying off nearly 2,000 employees at its Sparrows Point mill.
The company's incentive plan named the 10 executives eligible for the bonuses, after originally holding back. They include CEO John Goodwin and Glenn Mikaloff, general manager of the Sparrows Point mill.