Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
Reference is made to Item 5.02 of that certain Current Report on Form 8-K filed
by Lakeland Industries, Inc. (the "Company") with the Securities and Exchange
Commission on December 16, 2021, which reported, among other items, that the
Board of the Directors of the Company approved an increase in the annual base
salary of Charles D. Roberson, the Company's Chief Executive Officer and
President, to $425,000, effective January 1, 2022.
Effective January 1, 2022, the Company and Mr. Roberson entered into an
amendment (the "Amendment") to the Employment Letter Agreement dated January 27,
2020, by and between Mr. Roberson and the Company (the "Agreement"). In addition
to reflecting the previously reported increase in Mr. Roberson's annual base
salary approved by the Board in December, the Amendment provides that, at the
end of the then-current term of the Agreement, the Agreement's duration shall
automatically extend for a subsequent 12-month period, unless either party
provides written notice of termination at least 90 days before the expiration of
then-current term. There are no other material terms of the Amendment. A copy of
the Amendment is filed as Exhibit 10.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
10.1 Amendment to Employment Letter Agreement of Charles D. Roberson
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