IEH Corporation has entered into an employment agreement with David Offerman, who serves as the CEO and President of the company. The agreement is effective from January 1, 2025, until December 31, 2029. Offerman will earn a base salary of $491,745 annually and is eligible for a performance-based bonus of up to 100% of his base salary. He will also receive 25,000 options to purchase common stock at $10.75 per share, which are fully vested. Should his employment end without cause or for good reason, he's entitled to severance, extended health plan participation, and accrued compensation. Lastly, Offerman agrees to customary post-termination non-compete and non-solicitation obligations.