ISSC amends CEO severance: 12 months base pay or 2x salary plus bonus on change of control

INNOVATIVE SOLUTIONS & SUPPORT INC

CEO Shahram Askarpour gets 12 months base salary + COBRA if terminated without cause or for good reason outside a change of control.
On a change of control (6 months before to 2 years after), severance rises to 2x (base salary + max bonus), immediate equity vesting, extended option exercise, and 18 months health coverage.
Good reason definition includes material reduction in title/duties, pay cut, relocation >25 miles, or successor not assuming obligations.
Amendment applies a 30-day notice and cure period before resignation for good reason is effective.
Non-compete valuation may reduce excise tax risk under Code Sections 280G and 4999.

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