Photronics amends CEO Macricostas employment agreement with $675K salary, 3-year term

PHOTRONICS INC

CEO George C. Macricostas gets $675,000 base salary under amended employment agreement effective May 28, 2025.
Term ends May 28, 2028 with automatic two-year renewals; 180-day non-renewal notice required.
Severance without Cause/for Good Reason: one year salary continuation plus 12 months benefits.
Change of Control severance: 1.5x (salary + highest annual bonus) plus 18 months benefits in lump sum.
Non-compete covenant for 18 months after termination.

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