Lehman said it needs to hire workers quickly to avoid the risk of losing information that would help it unwind thousands of complex derivative transactions. Lehman said it was seeking to hire former Lehman workers because the tasks to unwind the business require specialized knowledge.

At a hearing earlier this month, Lehman's lead bankruptcy attorney Harvey Miller warned the court that it may request higher payment schemes for these employees than bankruptcy courts are used to.

The "transactions involved necessitate the employment of individuals with very specific skill sets, and preferably, former Lehman employees who possess the expertise and experience necessary to efficiently administer and wind-down the Debtors' businesses and the subject transactions," Lehman said in court documents.

Lehman said the total base salary for 620 employees, including an additional 480, would increase to $96 million, and that the employees would be eligible to earn a bonus. It said the total amount of bonuses to be issued would not exceed $110 million. It also asked for approval to set aside severance benefits of $22.5 million for employees that are involuntarily let go.

It said employment contracts would have initial commitment periods ranging from three to 24 months.