Butler National reduces CEO and CFO base salaries; grants restricted stock and severance agreements

BUTLER NATIONAL CORP

CEO Reedy base salary decreased from $595K to $580K; CFO Peters from $610K to $538,667.
Cash bonus targets set at $215K (Reedy) and $169K (Peters), tied to revenue, operating income, and non-financial goals.
Restricted stock awards: $135K for Reedy, $15K for Peters; fully vest by January 7, 2027.
Severance agreements provide 12 months base salary for termination without cause; change-in-control agreements pay 2x highest compensation plus benefits.
2025 Annual Cash Bonus Plan adopted for all salaried employees; performance goals include revenue and operating income.

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