HF Foods amends exec severance plan: lump-sum payment, broader CIC definition

HF Foods Group Inc.

Removed 'incumbent board' exception from change-in-control definition, broadening CIC triggers for severance.
Severance pay for VPs and above changed from monthly installments to lump sum within 60 days post-termination.
Added eligibility for pro rata target bonus as a severance benefit for key executives.
Plan effective July 1, 2025; covers employees at VP level and above, including SVPs and other officers.

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