Eastern Company amends CEO employment agreement to enhance severance benefits

EASTERN CO

Amended agreement with CEO Mark Hernandez adds payment of estimated annual target bonus on pro-rated basis upon termination without Cause or for Good Reason.
Also provides full vesting of all equity and equity-based awards upon such termination; prior agreement lacked these severance enhancements.
Other terms unchanged: base salary $515,000, target bonus 100% of base, eligibility for equity grants; agreement effective November 14, 2023.

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