Letter of Employment between the Company and Elizabeth C. Southern dated April 26, 2023

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Starting Date: TBD – June 2023. You will report to me.

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Starting salary: $10,576.93 paid bi-weekly.

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You will be eligible to participate in our Return on Capital Incentive Compensation Plan with a target of 60% of your base pay. The payout maximum is two (2) times the 60% target. Therefore, the actual incentive pay can be from 0% - 120% of base pay based on Company performance during the fiscal year. Any incentive pay for Fiscal Year 2023 would be prorated for time worked/W-2 base salary earned during the fiscal year. Participants in the Plan must be actively employed by Insteel at the time the bonus is paid to be eligible.

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You will be eligible to participate in certain executive benefits, including Supplemental Executive Retirement Plan (SERP), Split Dollar Life Insurance, Change in Control Agreement, and the Equity Incentive Plan. The Equity Incentive Plan (EIP) annual target value will be $150,000. Fifty percent of the annual award value ($75,000) is granted in February, and fifty percent ($75,000) in August. Half of the award value will be delivered in Restricted Stock Units and the remaining half of the award will be delivered in Incentive Stock Options (ISO’s) or Non-Qualified Stock Options (NQSO’s). Your initial award in August 2023 will be increased to a target value of $150,000 and revert to a target value of $75,000 in February 2024. These plans are subject to change or cancellation by the Board of Directors at any time.

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After completion of a thirty-day period you will be eligible for the following benefits:

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If you incur COBRA costs to continue your present medical coverage, the Company will reimburse the cost of COBRA continuation up until the time you are eligible for the Insteel plan.

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After ninety (90) days of service you will be eligible for company paid Short-term Disability and Long-term Disability insurance, and the Insteel Retirement Savings 401 (k) Plan.

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We take a flexible approach to vacation time for this role with the guideline generally 15 days of vacation per calendar year to start. Vacation may not be carried over from one year to another.

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Drug and Alcohol Guidelines (Substance Abuse Policy)

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Background Checks Policy and Authorization Form

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Application Form

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Confidentiality Agreement (Please note witness signature block.)

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Code of Conduct

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Insider Trading Policy

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E-mail Policy

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Computer Software Policy

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Internet Agreement

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Two copies of the Confirmation Letter (please retain one original for your records)