IEC Electronics Corp. Executive Officer Salary Arrangements (2014)
IEC Electronics Corp. has approved a salary increase for its Executive Vice President, Donald S. Doody, raising his base salary to $247,200 effective January 1, 2014. The Chief Executive Officer's salary will remain at $350,000 for fiscal year 2014. There are no changes to the compensation for Insero & Co. CPAs, P.C. for services provided by Vincent A. Leo as Chief Financial Officer. These arrangements were approved by the company's Compensation Committee.
Exhibit 10.1
IEC Electronics Corp.
Salary Arrangements with Executive Officers
On November 13, 2013, the Compensation Committee of the Board of Directors of IEC Electronics Corp. (the “Company”) approved an increase in the salary of Donald S. Doody, the Executive Vice President of the Company, effective January 1, 2014. His adjusted base salary will be $247,200. The salary of the Chief Executive Officer remains unchanged at $350,000 for fiscal 2014. Additionally, no change was made to the amount of compensation payable to Insero & Co. CPAs, P.C., in respect of the services provided by Vincent A. Leo as Chief Financial Officer of the Company.
