Friedman Industries adopts change of control severance plan with 3x CEO and 2x CFO multipliers

FRIEDMAN INDUSTRIES INC

Plan approved Sept 18, 2024; applies if termination occurs within 3 months before or 18 months after a change in control.
CEO receives 3x multiple of base salary + average annual bonus, plus pro-rata bonus; CFO gets 2x multiple.
Each also receives same multiple of health plan contribution and up to $10,000 for outplacement services.
Trigger: termination by company without cause or by individual for good reason.

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