Espey Manufacturing & Electronics Corporation Announces New Employment Agreement with CEO David A. O'Neil, Including $400,000 Base Salary and Performance-Based Bonuses
Espey Manufacturing & Electronics Corporation has entered into a new Employment Agreement with its President and CEO, David A. O'Neil, effective from July 1, 2025, through June 30, 2028. The agreement sets Mr. O'Neil's base salary at $400,000, subject to annual review without reductions. Additionally, he is eligible for an annual performance-based cash bonus, capped at $250,000. The bonus consists of three components: a discretionary portion up to 50% of his base salary, a sales and backlog growth-based component capped at $125,000, and an operating income-based component also capped at $125,000. In case of termination without cause or voluntary termination for "good reason," Mr. O'Neil will receive severance pay equal to nine months of his base salary, which extends to 18 months if his departure is linked to a "change of control."
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Espey Manufacturing & Electronics Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001174947-25-001188), on September 09, 2025, and is solely responsible for the information contained therein.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。