Cox's former managing director Neil Utley could create a £1.1m bonus for himself if he makes a successful bid for the company, reports said today.
According to reports, under the terms of a long-term incentive plan devised by Cox, Utley would receive a bonus if a deal valued shares at more than 68.5p.
The plan dates back to early 2002 when the company was dealing with huge losses post 9/11 and attempting to drive up share prices.
The higher the share price, the bigger the bonus, said reports.
Despite Utley's departure from the company in June, he would still be eligible for the bonus, reports claimed.
