IEC Electronics Corp. Amended Salary Arrangement with ExecutiveOfficers
EX-10.31 5 v327252_ex10-31.htm EXHIBIT 10.31
Exhibit 10.31
IEC Electronics Corp.
Amended Salary Arrangement with Executive Officers
On November 21, 2012, the independent members of the Board of Directors of IEC Electronics Corp. (the “Company”) upon recommendation of the Compensation Committee approved for the Chief Executive Officer, and the Compensation Committee approved for the other executive officers, the following increases in the base salary payable to them:
| Name and Title | Existing Base Salary | Modified Base Salary | Effective Date | |||||||
| W. Barry Gilbert, Chairman & CEO | $ | 326,000 | $ | 350,000 | 11/1/2012 | |||||
| Jeffrey T. Schlarbaum, President | $ | 254,500 | $ | 267,000 | 1/1/2013 | |||||
| Donald S. Doody, EVP of Operations | $ | 207,600 | $ | 228,000 | 1/1/2013 | |||||
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.
