Espey Mfg & Electronics (ESP) has shared an update.
David O’Neil has renewed his role as President and CEO of the Company with a contract valid until December 31, 2026, with provisions for automatic yearly renewal. His salary remains at $300,296, with potential for annual performance-based bonuses up to the amount of his base salary. Should O’Neil leave under certain conditions, he is guaranteed severance pay ranging from 9 to 18 months of his salary. The Company also announced a new Assistant Corporate Secretary and a dividend in a press release coinciding with O’Neil’s contract update.
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