CEO Grossblatt signs new employment deal through July 2027; base salary $352K, bonus up to $10M linked to capital raises

UNIVERSAL SAFETY PRODUCTS, INC.

New employment agreement effective Oct 1, 2025, runs to July 31, 2027, replacing prior agreement.
Base salary $352,286 per annum; bonus structure: $2.5M at $100M gross proceeds, $1M per additional $100M, final $500K at $1B.
On good reason termination, CEO receives 12 months base salary lump sum plus health benefits for 3 years.
Change of control termination entitles CEO to base salary for balance of term plus 3x last 12 months base salary (capped at 2.99x avg taxable compensation).
Agreement includes clawback provision and non-compete during term and while receiving compensation.

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