Miller Industries removes single-trigger change-in-control severance; adopts new performance-based bonus plan

MILLER INDUSTRIES INC /TN/

Second Amended Severance Plan eliminates change-in-control benefits; severance only on qualifying termination (without cause, death/disability, or good reason).
New bonus plan ties pool to pretax income: $20M-$30M earns 10% pool; $90M+ earns 14% pool; cash/equity mix varies by tier.
Bonus allocations for 2026: CEO 46%, CFO 17%, President Military/Export 9.25%, CIO 9.25%, CRO 9.25%, GC 9.25%.
For 2025, CFO's bonus share increased from 14% to 16%; Chief Manufacturing Officer's 8% reallocated among other officers.

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