IEH Corp enters new employment agreement with CFO William Craig through 2027

IEH Corp

New employment agreement for CFO and Treasurer William H. Craig, effective July 1, 2022, through June 30, 2027.
Base salary of $247,200 per annum; eligible for annual bonus based on performance targets set by Compensation Committee.
Severance: 24 months base salary plus 24 months health benefits for termination without cause or for good reason.
Change-in-control provision: if termination within 90 days, similar severance plus accelerated vesting of equity awards.
Subject to non-competition, non-solicitation, and confidentiality obligations.

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