Solitron Devices amends COO Matson's employment; issues cash and equity bonuses to executives and directors

SOLITRON DEVICES INC

New 3-year term for President/COO Matson; base salary $450K with bonus tied to profit tiers up to 7% above $6M.
Matson receives option to buy 50K shares at $14.50 for 90 days, plus quarterly purchase rights for up to 5K shares each quarter.
Severance on termination without cause: 2x base salary plus 36 months COBRA reimbursement.
Discretionary cash bonuses: $25K to Matson; $10K to CFO Campbell; 2,000 vested shares to each named officer and each non-employee director.
CFO Campbell's annual base salary increased to $200,000; all stock grants immediately vested from 2019 Stock Incentive Plan.

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