Ireland: Fyffes execs may get US$1M bonus if Chiquita deal goes through
An Irish media outlet has revealed executives of fruit company Fyffes Plc (ESM: FFY) may receive a US$1 million bonus if a merger is achieved with U.S.-based Chiquita Brands International (NYSE: CQB). 
The Irish Independent cited documents associated with the merger to show the new entity's potential leader, and current Fyffes CEO David McCann, may end up sharing in the incentive payment with his executive team.
"In connection with the consummation of the combination, Fyffes may pay transaction bonuses to certain of its employees of up to $1,000,000 in the aggregate and retention bonuses to certain of its employees of up to $300,000 in the aggregate," the outlet cited from the documents.
The story added the documents also said a collapse of the deal would lead to a €3 million (US$4 million) "break free", which is equivalent to 1% of the values of each company.
A Chiquita spokesperson told www.freshfruitportal.com the deal was expected for completion by the end of the year.
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