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71 Section 503(c)(2) further limits severance payments to an insider if the payment is not part of a program that is generally applicable to all full-time employees or the amount of the payment to the insider is greater than ten times the amount of the average severance pay given to nonmanagement employees during the calendar year. Finally, Section 503(c)(3) is a somewhat narrow "catch all" that limits transfers or obligations that are outside the ordinary course of business and not justified by the facts and circumstances of the case, including transfers made to, or obligations incurred for the benefit of, officers, managers, or consultants hired after the date of the filing of the petition. b. Secured Claims The Bankruptcy Code establishes a number of special rights and protections available to the holders of secured claims. The Bankruptcy Code is guided by the principles that secured creditors are entitled to priority payment out of their collateral, and secured creditors are entitled to receive the equivalent value of their collateral. Such holders are entitled to "adequate protection" and, in some cases, relief from the automatic stay. Congress granted such special protections and rights to secured creditors to reflect the benefit of their bargained-for rights. Under the Bankruptcy Code, creditors' claims are initially divided into two categories: secured claims and unsecured claims. According to Section 506(a)(1), an allowed secured claim is (i) an allowed claim, (ii) secured by a lien, (iii) on property in which the estate has an interest. A secured claim is secured to the extent of the value of the creditor's interest in the debtor's interest in the property. Id. Additionally, if there is a right to a setoff, the amount subject to setoff is usually treated as if it were a secured claim. Id. An unsecured claim, on the other hand, is a claim held by a creditor that has not obtained a security interest in any collateral to protect against default on its underlying obligation.

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