Bankrupt crypto exchange FTX wants to introduce a $4 million bonus program to stop staff with key skills quitting, according to court documents filed Tuesday.

Chief Executive Officer John J. Ray III, who took charge on Nov. 11 when the company filed for bankruptcy, wants to offer bonuses as much as 94% of salary to stop those with knowledge of programming or company accounting practices from quitting.

The plan will be discussed at a March 29 hearing in a Delaware court.

Bonuses between 17% and 94% will be in the best interest of the FTX group as it seeks to wind up affairs, the Tuesday document said. The overall package is capped at $4,027,204 and targets staff with key skills and knowledge, including programming languages such as Python, Rust and Flutter. No bonuses will be paid to directors or officers of the company, to founder Sam Bankman-Fried and his family, or to any staff believed to be engaged in wrongdoing, the document said.

(By Jack Schickler)