Bankrupt Peabody wants to provide $11.9 million in executive bonuses

St. Louis-based coal miner Peabody Energy Corp. which filed for Chapter 11 bankruptcy asked a U.S. judge for permission to pay nearly $12 million in bonuses to the company's top six executives if it meets performance targets and emerges from bankruptcy. In a filing, Peabody said the incentives would help the company maximize its value for the benefit of all stakeholders. If the company falls short of the targets, executives will receive only their base salaries, which range from $444,000 to $1 million, Reuters reports.