Optex Systems appoints Chad George as President; amends bylaws

Optex Systems Holdings Inc

Chad George appointed President effective Aug 11, 2025; 20 years defense ops/supply chain experience at Leonardo DRS and Raytheon.
Base salary $300,000 with 3.5% annual increases; target bonus 30% of base; 10,000 restricted shares vesting Jan 1, 2026.
Employment term through July 1, 2028, automatically renewable; severance includes 6 months base salary for without-cause/good-reason terminations.
Bylaws amended to add shareholder proposal/nomination deadlines, exclusive Delaware forum for derivative/fiduciary claims, and separate CEO and President roles.
Non-competition and non-solicitation covenants last 5 years post-employment; non-disparagement clause included.

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