8legs: Graham walker

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Fibrebond sold to Eaton for $1.7 billion, with 15% of the proceeds set aside for employees as a non-negotiable condition.
A $240 million bonus pool was distributed to Fibrebond's 540 full-time workers, averaging about $443,000 per worker over five years.
The bonuses were retention awards, paid annually over five years, requiring most employees to stay with the company to receive the full amount.

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Fibrebond in Louisiana distributed about $240 million to more than 550 employees after its sale to Eaton.
The 15% of sale proceeds were shared with staff who stayed through layoffs and downturns.
The bonuses averaged about $443,000 per employee, paid over five years.
Fibrebond chief executive Graham Walker justified the plan as recognition of loyalty, not ownership.
Fibrebond survived a factory fire and multiple downturns before the sale.
The sale of Fibrebond to Eaton valued the company at about $1.7 billion.
Eaton said the agreement respected Fibrebond’s commitments to employees and the community.
The deal strengthened Eaton’s position in fast-growing power infrastructure markets.
The payout was designed to reward long-serving staff who stayed through fires and layoffs.
The employees received their bonuses despite owning no shares in Fibrebond.

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