SIFCO CEO Knapper gets new change-in-control agreement with 2x salary severance

SIFCO INDUSTRIES INC

New change-in-control & severance agreement with CEO Peter Knapper effective June 29, 2022, replacing 2019 agreement.
On qualifying termination: lump-sum payment equal to 2.0 times annual salary plus 24-month benefit continuation.
Long-term stock incentive awards vest pro-rata upon a qualifying termination.
Agreement has no Section 280G gross-up; payments may be reduced to avoid excise taxes.
Term: CIC-related obligations expire 2 years after change in control; non-CIC severance expires after 3 years.

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