Disclosure of Compensation Paid by the Debtor to Certain Persons

(a) Compensation Paid During Interim Period. Unless the court orders otherwise and subject to termination under subdivision (b), the debtor may pay compensation for services rendered to the debtor by a person who is an officer or director of a corporate debtor, partner of a partnership debtor, or a member, manager, or officer of a limited liability company at a rate equal to or less than the annual rate of compensation and benefits paid to the person as of the 90th day before the filing of the petition or such other amount as the court orders for cause shown. (b) Compensation Disclosure Notice. The debtor’s authority to pay compensation and expenses under subdivision (a) terminates 21 days after the filing of the petition or the entry of an order for relief in an involuntary case unless the debtor files within the 21 day period a compensation disclosure notice listing the name of any person receiving compensation from the debtor under subdivision (a) and (1) a description of the position, title, and duties of the person; the compensation being paid, and a list of each benefit provided with the cost of each benefit; and (2) the compensation paid, a list of each benefit provided, and the cost of each benefit on the 90th day, 180th day, and 1 year before the filing of the petition.

(c) Effect of Timely Compensation Notice. If the debtor timely files and serves the compensation disclosure notice under subdivision (b), the debtor is authorized to pay the disclosed compensation and benefits even if an objection is filed under L.B.R. 4002-2 until the court orders otherwise. -39- (d) Service. On the day the notice described in subdivision (b) is filed, the debtor shall serve the notice on: (1) the members of any committee and counsel for the committee or, if no committee has been appointed, the creditors holding the 20 largest unsecured claims; (2) creditors holding secured claims; and (3) those on the Clerk’s Service List.