Gorman-Rupp signs change-of-control severance pacts with CEO King, GC Burnell, CFO Stoops

GORMAN RUPP CO

CEO Scott A. King gets 3x annual base salary plus Prior Bonus Amount plus prorated annual bonus; other officers, including CFO Ronald F. Stoops and GC Brigette A. Burnell, get 2x.
Benefits trigger on termination without Cause or for Good Reason within two years after a Change of Control, or within six months prior and primarily in anticipation of one.
Executives also receive a lump sum of 18 months of COBRA medical premiums and a payment for 24 additional months of credited retirement-plan service.
Equity: full vesting of time-based awards; performance awards pay at actual or target performance; a 280G 'best pay' cutback applies with no tax gross-up; benefits require a signed release.
Agreements dated October 1, 2026 run one year with automatic one-year evergreen renewals absent notice; filed as Exhibits 10.1 and 10.2.

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