From one of the articles: "Gibson’s existing equity will be canceled under a proposed Chapter 11 plan, which requires court approval, but Mr. Juszkiewicz will stay on as $2.1 million a year consultant to the new owners. Mr. Berryman is being retained for one year at a salary $3.35 million. Both men will each receive 5-year warrants for up to 2.25% of the reorganized company’s stock. "
Translation: they'll be there in name only for a year with a nice severance and will have an option to own a small part of the new Gibson.