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Story summary
- Graham Walker, the former CEO of Fibrebond in Minden, Louisiana, awarded 540 employees $240 million in bonuses after selling the company to Eaton for $1.7 billion.
- The bonuses average about $443,000 per employee and will be paid over five years based on tenure.
- Walker said 15% of the sale proceeds would go to employees.
- Eaton will manage distributions, with the first installment in 2025; Walker will depart Fibrebond at year-end.
