Borders Bonuses Approved
The Borders Groupboard has approvednew incentive plans to retain top level executives. Under the plan, the top five executives will receive retention bonuses if they remain at the retailer through September 30 and will be eligible for a second bonus if the chain hits certain financial targets. The biggest incentive is for interim CEO Michael Edwards, who will receive $148,092 on November 1 if he remains at Borders through September 30. He will receive the same amount April 15, 2011, if still-to-be determined financial targets are hit.
Glick Closes Seven-Figure YA Deal
Foundry's Mollie Glick closed a pre-Bologna YA deal, selling a new trilogy by Josephine Angelini to Laura Arnold at Harper Teen. Arnold pre-empted North American rights to the series, and the first book, Starcrossed, is scheduled for summer 2011. In book one, Helen. a Nantucket teenager, learns she's destined to start a Trojan War—like battle because of her relationship with the island's high school heartthrob. Film rights to the book are being handled by Angelini's manager, Rachel Miller at Tom Sawyer Entertainment, and foreign rights are being handled by Foundry's Stephanie Abou and Hannah Brown Gordon.
Enhanced E-book from Baldacci
Grand Central Publishing will release its first enhanced e-book April 20 when it publishes David Baldacci's newest novel, Deliver Us from Evil. The enhanced e-book contains various features giving readers a behind-the-scene look at the creative process and will sell for $15.99, released simultaneously with the $27.99 hardcover. A regular e-book priced at $14.99 will also be released at that time, and the price will decline to $12.99 once the book becomes a bestseller.
Grisham's Kids' Book
Dutton announced it will do a one million—copy printing for Theodore Boone: Kid Lawyer, John Grisham's first children's book, which will be released May 25.