Kimball Electronics adopts new performance share formula and executive severance plan

Kimball Electronics, Inc.

Performance shares for FY2022 now calculated using profitability attainment (actual operating income vs plan) replacing prior bonus percentage component.
New Executive Severance & Change in Control Plan effective July 1, 2021, superseding prior executive employment agreements.
Severance benefits tiered (Tier I CEO, Tier II, Tier III) include salary continuation, COBRA, bonus payout, and equity vesting.
Change-in-control protection period lasts 24 months; within one year of effective date, prior more beneficial agreements may apply.

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