CEO Harvey Grossblatt waives change-of-control payments for Feit Electric asset sale

UNIVERSAL SAFETY PRODUCTS, INC.

Waiver of severance and change-of-control benefits under employment agreement, contingent on closing of asset sale to Feit Electric.
Grossblatt will receive lump sum severance equal to prior 12 months' base salary plus last bonus, payable as of July 31, 2025.
Company will not renew employment after current period; Grossblatt expected to supervise orderly liquidation post-closing.
Post-closing, Grossblatt will be engaged by Feit Electric and share confidential information with the buyer.

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