Kabbage - KERP Motion as Filed

Summary

Exhibit A, a Proposed Order, Doc 253-2 filed November 15, 2022 in In re Kabbage, Inc. d/b/a KServicing, et al., Case No. 22-10951 (CTG), a jointly administered Chapter 11 case, in the U.S. Bankruptcy Court for the District of Delaware. The form is titled Order (I) Approving Debtors' Retention Program for Certain Non-Executive Employees and (II) Granting Related Relief. It would approve the Debtors' Non-Executive KERP, including the Discretionary Pool, as set forth in the Motion, and would authorize, but not direct, the Debtors to take all actions necessary to implement it, including making any payments that become due. The docket reference, date and signature lines of the form are blank.

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Full text

RLF1 28239495V.1
Exhibit A

Proposed Order
Case 22-10951-CTG    Doc 253-2    Filed 11/15/22    Page 1 of 3

RLF1 28239495V.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
------------------------------------------------------------ x

:

In re
:
Chapter 11

:

KABBAGE, INC. d/b/a KSERVICING, et al., :
Case No. 22-10951 (CTG)

:

:

Debtors.1
:
(Jointly Administered)

:
Re: Docket No. __
------------------------------------------------------------ x

ORDER (I) APPROVING DEBTORS’ RETENTION PROGRAM FOR
CERTAIN NON-EXECUTIVE EMPLOYEES AND (II) GRANTING RELATED RELIEF
Upon the motion (the “Motion”)2 of Kabbage Inc. d/b/a KServicing and its debtor
affiliates, as debtors and debtors in possession in the Chapter 11 Cases (collectively,
the “Debtors”), for entry of an order  (i) approving the Debtors’ retention program for certain key
employees and (ii) granting related relief, all as more fully set forth in the Motion; and the Court
having jurisdiction to consider the Motion and the relief requested therein pursuant to 28 U.S.C.
§§ 157(a)–(b) and 1334(b), and the Amended Standing Order of Reference from the United States
District Court for the District of Delaware, dated February 29, 2012; and consideration of the
Motion and the requested relief being a core proceeding pursuant to 28 U.S.C. § 157(b); and venue
being proper before this Court pursuant to 28 U.S.C. §§ 1408 and 1409; and due and proper notice
of the Motion having been provided to the Notice Parties, and such notice having been adequate

1  The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification
number, as applicable are: Kabbage, Inc. d/b/a KServicing (3937); Kabbage Canada Holdings, LLC (N/A); Kabbage
Asset Securitization LLC (N/A); Kabbage Asset Funding 2017-A LLC (4803); Kabbage Asset Funding 2019-A
LLC (8973); and Kabbage Diameter, LLC (N/A). Kabbage is a trademark of American Express used under license;
Kabbage, Inc. d/b/a KServicing is not affiliated with American Express. The Debtors’ mailing and service address
is 925B Peachtree Street NE, Suite 383, Atlanta, GA 30309.
2   Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the
Motion.
Case 22-10951-CTG    Doc 253-2    Filed 11/15/22    Page 2 of 3

2
RLF1 28239495V.1
and appropriate under the circumstances; and it appearing that no other or further notice need be
provided; and this Court having held a hearing to consider the relief requested in the Motion, if
necessary; and this Court having determined that the legal and factual bases set forth in the Motion
establish just cause for the relief granted herein; and it appearing that the relief requested in the
Motion is in the best interests of the Debtors, their estates, creditors, and all parties in interest; and
upon all of the proceedings had before the Court and after due deliberation and sufficient cause
appearing therefor,
IT IS HEREBY ORDERED THAT
1.
The Motion is granted to the extent set forth herein.
2.
The Debtors’ Non-Executive KERP, including the Discretionary Pool, as
set forth in the Motion is hereby approved.
3.
The Debtors are authorized, but not directed, to take all actions necessary
to implement the Non-Executive KERP on the terms and conditions set forth in the Motion,
including making any payments that become due pursuant to the terms of the Non-Executive
KERP.
4.
Notice of the Motion is adequate under Bankruptcy Rule 6004(a).
5.
Notwithstanding Bankruptcy Rule 6004(h), this Order shall be immediately
effective and enforceable upon its entry.
6.
The Debtors are authorized to take all action necessary to effectuate the
relief granted in this Order.
7.
The Court shall retain jurisdiction to hear and determine all matters arising
from or related to the implementation, interpretation, or enforcement of this Order.

Case 22-10951-CTG    Doc 253-2    Filed 11/15/22    Page 3 of 3

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