I got disgusted with the guy when I found out he was was taking vacations on the company jet, paid for by the company, at a time when people were being laid off by the thousands. When I read that he wants a bonus for taking Kodak through bankruptcy, I was appalled.

If I were an investor, I'd expect him to feel a sense of responsibility for what was happening and show some leadership by giving up his perks, skipping vacation to be there in such difficult times, and not expect to be paid for failure. I would have no faith in him any more, based on his behavior. It is not the behavior of a leader. It is an example of the increasingly common CEO-think: I've gotta get mine, regardless.

Bonuses are supposed to be incentives and rewards. Retention bonuses make sense for lower management who are not to blame for what has happened, but whose abilities are needed. Reward bonuses are tied to financial performance, so he should be getting his pay docked if anything.