Photronics signs employment pact with CFO Rivera; $425K base, 3-year term

PHOTRONICS INC

Base salary $425,261, subject to annual review by Compensation Committee for increase only.
Initial term ends April 30, 2028; auto-renewed for 2-year terms unless 180-day non-renewal notice.
Termination without cause or for good reason: 1 year salary, 12 months benefits continuation.
Change-of-control termination: 1.5x (salary + highest annual bonus), plus stub bonus, 18 months benefits.
Non-compete during employment and 18 months after termination in photomask business.

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