Chicago Rivet & Machine names Gregory D. Rizzo as CEO, effective May 9, 2023

CHICAGO RIVET & MACHINE CO

Gregory D. Rizzo appointed CEO; annual base salary $315,000 plus $26,000 sign-on bonus.
Rizzo eligible for annual bonus up to 30% of base salary based on financial and non-financial metrics.
Severance equal to one year of base salary if terminated without cause within 12 months.
Michael J. Bourg served as principal executive officer from Dec 10, 2022 to May 9, 2023.
Board intends to appoint Rizzo as a director after the annual meeting on May 9, 2023.

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