CEO Charles D. Roberson to step down Jan 31, 2024; Executive Chairman Jenkins to oversee transition

LAKELAND INDUSTRIES INC

Roberson's employment agreement not renewed; he will resign as officer, employee, and director effective Jan 31, 2024.
Separation agreement provides FY24 bonus (if any), continued base salary up to Apr 30, 2024 if unemployed, and continued RSU vesting.
Executive Chairman James M. Jenkins will oversee executive management while Board conducts comprehensive CEO search.
Jenkins has served as director since 2016 and also serves as General Counsel and VP Corp Dev at Transcat, Inc.
Roberson's non-compete covenant is waived under the separation agreement.

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