Not everybody thinks that Boscov's executives should get an extra reward if their "extraordinary efforts" are successful.

The acting U.S. trustee on Tuesday objected to Boscov's plan to pay its top six executives $1.45 million in bonuses if they get the firm through bankruptcy or find a buyer by early 2009.

In a seven-page filing, Roberta A. DeAngelis said federal law allows bonuses to executives of firms in bankruptcy only if the bonuses are "tied to significant hurdles which are difficult to achieve."

To the contrary, she said, Boscov's executives have a legal obligation to either reorganize or liquidate the firm "as soon as practicable."

DeAngelis suggested that the bonus plan actually is "performance-based in name only and is factually a creatively titled key-employee retention plan" in violation of federal law.

"...(The executives) appear to be entitled to these payments for simply remaining employed by the company and completing tasks which they are required to perform," she said.

As the New Era reported last week, the department store chain said its executives are making "extraordinary efforts" by running the business while reorganizing it and seeking a buyer.

At the same time, the executives won't get their usual bonuses, due to operating losses and bankruptcy costs.

So Boscov's wants to pay the new bonuses, dubbing them "success payments," if Boscov's achieves either goal.

A hearing on the bonus plan is set for 10 a.m. Friday in Wilmington, Del.

Reading-based Boscov's filed for bankruptcy Aug. 4. It has a store at Park City Center.

Staff writer Tim Mekeel can be reached at tmekeel@LNPnews.com or 481-6030.