# EDGAR Filing Document

**Accession Number:** 0000889348
**File Stem:** 0001999371-25-019911
**Filing Date:** 2025-12
**Character Count:** 51863
**Document Hash:** 8a350080b1b38c093c23c5b3b4d82dfa
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-25-019911.hdr.sgml**: 20251209

**ACCESSION NUMBER**: 0001999371-25-019911

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20251208

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251209

**DATE AS OF CHANGE**: 20251209

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CPI AEROSTRUCTURES INC
- **CENTRAL INDEX KEY:** 0000889348
- **STANDARD INDUSTRIAL CLASSIFICATION:** AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 112520310
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-11398
- **FILM NUMBER:** 251559831

**BUSINESS ADDRESS:**
- **STREET 1:** 200A EXECUTIVE DR
- **CITY:** EDGEWOOD
- **STATE:** NY
- **ZIP:** 11717
- **BUSINESS PHONE:** 5165865200

**MAIL ADDRESS:**
- **STREET 1:** 91 HEARTLAND BLVD
- **CITY:** EDGEWOOD
- **STATE:** NY
- **ZIP:** 11717

?xml version='1.0' encoding='ASCII'? Current Report

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION** **WASHINGTON, D.C. 20549**

------

**FORM 8-K**

**CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported): **December 8, 2025**

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| |
|:---|
| **CPI AEROSTRUCTURES, INC.** |
| (Exact Name of Registrant as Specified in Charter) |

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| | | |
|:---|:---|:---|
| **New York** | **001-11398** | **11-2520310** |
| (State or Other Jurisdiction<br> of Incorporation) | (Commission<br> File Number) | (IRS Employer<br> Identification No.) |

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| | |
|:---|:---|
| **91 Heartland Boulevard, Edgewood, New York** | **11717** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

Registrant's telephone number, including area code: **<u>(631) 586-5200</u>**

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| |
|:---|
| **N/A** |
| (Former Name or Former Address, if Changed Since Last Report) |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (<u>see</u> General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading symbol(s)** | **Name of each exchange on which registered** |
| **Common stock, $0.001 par value per share** | **CVU** | **NYSE American** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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| | |
|:---|:---|
| **Item 1.01.** | **Entry into a Material Definitive Agreement.** |

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On December 8, 2025, CPI Aerostructures, Inc. (the "<u>Company</u>") entered into an indemnification agreement with Robert Mannix, whose appointment to the positions of Chief Financial Officer and Secretary is discussed in Item 5.02 below. The Company's standard indemnification agreement is included at Exhibit 10.29 of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2013.

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| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** |

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***Appointment and Compensatory Arrangements of Chief Financial Officer and Secretary***

On December 8, 2025, Robert Mannix, was appointed by the board of directors of the Company to the positions of Chief Financial Officer and Secretary. Mr. Mannix will also serve as Chief Financial Officer and Secretary of each of the Company's wholly-owned subsidiaries, Welding Metallurgy, Inc. and Compac Development Corporation.

Mr. Mannix, 58, has more than 30 years of accounting and financial leadership experience, including senior roles with public and private companies. From 2018 to 2025, he served as Executive Vice President and Chief Accounting Officer and Head of Tax and Treasury of West Technology Group, LLC, a private-equity-owned international cloud-based technology company, where he was responsible for all accounting, tax, treasury, financial reporting and compliance functions and oversaw SEC-style reporting required under the company's debt agreements. Prior to joining West, he served as Vice President and Corporate Controller of Casper Sleep, Inc. from 2017 to 2018. Earlier in his career, Mr. Mannix held senior finance positions at Verint Systems Inc. and Motorola, Inc., and spent 11 years in Ernst & Young's Assurance and Advisory Services Group. He holds a B.B.A. in Accounting from Pace University and is a Certified Public Accountant in New York.

Mr. Mannix will receive an annual base salary of $300,000, subject to annual review. Beginning in fiscal year 2026, he will be eligible to participate in the Company's annual cash bonus program with a target bonus opportunity equal to 40% of base salary, and to participate in the Company's long-term incentive plan, with a target award opportunity equal to 40% of base salary, payable in restricted stock, half of which is subject to time-based and half of which is subject to performance-based vesting conditions. He will also be eligible to participate in the employee benefit plans and programs available to the Company's senior executives, including health, dental, disability, life insurance, 401(k) and paid time off benefits, in accordance with their terms.

In connection with his appointment as Chief Financial Officer, Mr. Mannix entered into a Severance and Change in Control Agreement with the Company. The Severance and Change in Control Agreement provides for varying types and amounts of payments and additional benefits upon termination of employment, depending on the circumstances of the termination:

*Termination without cause*. If Mr. Mannix's employment is terminated by the Company other than for cause (as defined in the Severance and Change in Control Agreement), and such termination occurs outside of the applicable change in control period, he will be entitled to continued base salary during the severance period specified in the Severance and Change in Control Agreement, any earned cash bonus not yet paid for the preceding fiscal year and a pro-rated cash bonus calculated using the prior year's cash bonus amount. The severance benefit consists of an amount equal to (i) 26 weeks of base salary if Mr. Mannix has completed at least six months of service or (ii) 52 weeks of base salary if he has completed at least eighteen months and twenty-two days of service, in each case payable in accordance with normal payroll practices. The non-competition covenant will remain in effect for the applicable 26- or 52-week severance period. All unvested restricted stock and all other unvested or unexercised equity awards will be forfeited or expire upon termination.

*Voluntary termination or termination for cause.* If Mr. Mannix voluntarily terminates his employment, or if the Company terminates his employment for cause, he will not be entitled to any severance payments and will not be bound by the non-competition provision, however he will still be bound by confidentially and non-disparagement obligations. Any unvested restricted stock and other unvested or unexercised equity awards will be forfeited or expire.

*Termination for disability.* If Mr. Mannix's employment is terminated because of a disability (as defined in the Severance and Change in Control Agreement), then he will receive severance as if employment had been terminated by the Company without cause.

*Termination following a change in control.* If Mr. Mannix's employment is terminated within 18 months following a change in control (as defined in the Severance and Change in Control Agreement) either (a) by the Company other than for cause or disability or (b) by Mr. Mannix for good reason (as defined in the Severance and Change in Control Agreement), he will be entitled to (i) his base salary earned through the date of termination, (ii) any earned cash bonus not yet paid for the preceding fiscal year, and (iii) a pro-rated portion of his annual cash bonus for the portion of the year he worked, assuming all applicable targets had been met. In addition, he will be entitled to a change in control payment in an amount equal to one and one-half times his base salary for the prior full fiscal year payable in two installments, the first on the date of termination and the second six months following the date of termination. Upon any change in control, all outstanding stock options and restricted stock will vest immediately. Health insurance and other fringe benefits will continue for a period of six months after termination. A non-competition provision will apply for six months.

The foregoing description of the Severance and Change in Control Agreement is qualified in its entirety by reference to the full text of the agreement which is attached hereto as Exhibit 10.1.

Mr. Mannix succeeds Pamela Levesque, a Company director, who served as Interim Chief Financial Officer and Secretary of the Company and its subsidiaries.

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| | |
|:---|:---|
| <br> **Item 9.01** | <br> **Financial Statements and Exhibits.** |

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| | |
|:---|:---|
| **<u>Exhibit</u>** | **<u>Description</u>** |
| [10.1](ex10-1.htm) | [Severance and Change in Control Agreement, dated December 8, 2025 between the Company and Robert Mannix.](ex10-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Dated: December 9, 2025 | CPI AEROSTRUCTURES, INC. | CPI AEROSTRUCTURES, INC. |
|  | By: | /s/ DORITH HAKIM |
|  |  | Dorith Hakim |
|  |  | Chief Executive Officer |

---

## Exhibit 10.1

[CPI AEROSTRUCTURES, INC. 8-K](cpi-8k_120925.htm)

**Exhibit 10.1**

**CPI AEROSTRUCTURES, INC.**

**Severance and Change in Control Agreement**

This Severance and Change in Control Agreement ("Agreement") made and entered into as of December 8, 2025 (the "Effective Date"), by and between CPI Aerostructures, Inc., a New York corporation ("Company"), and Robert Mannix ("Employee").

**<u>W</u> <u>I</u> <u>T</u> <u>N</u> <u>E</u> <u>S</u> <u>S</u> <u>E</u> <u>T</u> <u>H</u>**

WHEREAS, the Company employs Employee as an employee at-will in the capacity of Chief Financial Officer; and

WHEREAS, the Company seeks to attract and retain talent and to assure the present and future continuity, objectivity and dedication of management in the foreseeable future and in the event of any Change in Control.

NOW, THEREFORE, in consideration of the mutual agreements herein set forth and other good and valuable consideration, the parties hereto agree as follows:

**1.**  **<u>Employment</u>** . 
 Employee is employed by the Company as an at-will employee subject to the terms and conditions
 hereinafter set forth.

**2.**  **<u>Duties</u>** . 
 During Employee's employment with the Company, Employee shall:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) serve
 the Company and do and perform assigned duties and responsibilities in the ordinary course
 of Employee's employment and the business of the Company (within such limits as the
 Company may from time to time prescribe), professionally, faithfully and diligently.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) devote
 Employee's full business time, energy and skill to the business of the Company and
 Employee's assigned duties and responsibilities, and to the promotion of the best interests
 of the Company; provided that Employee shall not (to the extent not inconsistent with <u>Section 6</u> below) be prevented from (i) engaging in charitable, religious, civic or other non-profit
 community activities, or (ii) investing his personal assets in such form or manner as
 will not require any substantial services on Employee's part in the operation or affairs
 of the business in which such investments are made, in each case, only to the extent that
 such activity does not detract from or interfere or cause a conflict of interest with performance
 of Employee's duties.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) observe
 all policies and procedures of the Company in effect from time to time applicable to employees
 of the Company including, without limitation, policies with respect to employee confidentiality,
 loyalty and prohibited conflicts of interest.

**3.**  **<u>Benefits</u>** . 
 Employee shall be entitled to participate, according to the eligibility provisions of each,
 in such welfare plans (including but not limited to medical, dental, life, accident and disability
 insurance programs), vacation, retirement plans and other fringe benefits as may be in effect
 from time to time and available to other employees of the Company during Employee's
 employment with the Company. Employee shall also be entitled to participate in such additional
 fringe benefits as may be authorized from time to time by the Chief Executive Officer and/or
 the Board of Directors of the Company.

**4.**  **<u>Confidential Information, Assignment of Inventions</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Employee
 acknowledges that the trade secrets, confidential information, secret processes and know-how
 developed and acquired by the Company are among its most valuable assets and that the value
 of such information may be destroyed by unauthorized disclosure. All such trade secrets,
 confidential information, secret processes and know-how imparted to or learned by Employee
 in the course of his employment with respect to the business of the Company (whether acquired
 before or after the date hereof) will be deemed to be confidential and will not be used or
 disclosed by Employee, except to the extent necessary to perform Employee's duties
 and, in no event, disclosed to anyone outside the employ of the Company and its authorized
 consultants and advisors. If Employee ceases to be employed by the Company for any
 reason, Employee shall not take any electronically stored data, documents or other papers
 containing or reflecting trade secrets, confidential information, secret processes, know-how,
 or computer software programs from the Company. Employee acknowledges that Employee's
 employment with the Company places Employee in a position of utmost confidence and that Employee
 will have access to confidential information concerning the operation of the business of
 the Company, including, but not limited to, manufacturing methods, developments, secret processes,
 know-how, computer software programs, costs, prices and pricing methods, sources of supply
 and customer names and relations. All such information is in the nature of a trade secret
 and is the sole and exclusive property of the Company and shall be deemed confidential information
 for the purposes of this <u>Section 4</u>.

Notwithstanding the foregoing, nothing in this Agreement shall prohibit or restrict Employee from lawfully (i) communicating with any governmental agency or self-regulatory organization, including but not limited to the Securities and Exchange Commission, about a potential violation of law or regulation; (ii) filing a charge or complaint with any governmental agency or self-regulatory organization; or (iii) participating in any investigation or proceeding that may be conducted by any governmental agency or self-regulatory organization, including providing documents or other information, without prior notice to or approval by the Company. Employee is also not prohibited from making any other disclosures that are protected under whistleblower laws or other applicable laws.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Employee
 hereby assigns to the Company all rights that Employee may have as author, designer, inventor
 or otherwise as creator of any written or graphic material, design, invention, improvement,
 or any other idea or thing whatsoever that Employee may write, draw, design, conceive, perfect,
 or reduce to practice during his employment with the Company, whether done during or outside
 of normal work hours, and whether done alone or in conjunction with others ("Intellectual
 Property"), provided, however, that Employee reserves all rights in anything done or
 developed entirely by Employee on Employee's own personal time and without the use
 of any Company equipment, supplies, facilities or information, or the participation of any
 other Company employee, unless it relates to the Company's business or reasonably anticipated
 business, or grows out of any work performed by Employee for the Company. Employee will promptly
 disclose all such Intellectual Property developed by Employee to the Company, and fully cooperate
 at the Company's request and expense in any efforts by the Company or its assignees
 to secure protection for such Intellectual Property by way of domestic or foreign patent,
 copyright, trademark or service mark registration or otherwise, including executing specific
 assignments or such other documents or taking such further action as may be considered necessary
 to vest title in the Company or its assignees and obtain patents or copyrights in any and
 all countries.

**5.**  **<u>Non-disparagement</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Employee
 agrees and covenants that he shall not at any time make, publish or communicate to any person
 or entity or in any public forum any defamatory or disparaging remarks, comments or statements
 concerning the Company or its businesses, or any of its employees or officers, and existing
 and prospective customers, suppliers, investors and other associated third parties, now or
 in the future. The Company agrees and covenants that its directors and/or officers shall
 not at any time make, publish or communicate to any person or entity or in any public forum
 any defamatory or disparaging remarks, comments or statements concerning Employee, now or
 in the future.

This Section does not, in any way, restrict or impede Employee from exercising protected rights to the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation or order. Employee shall promptly provide written notice of any such order to the Chairman of the Company's Board of Directors.

**6.**  **<u>Non-Compete</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Employee
 agrees that during Employee's employment with the Company and for the duration of time
 described in Appendix A (Non-compete Period"), if Employee's employment with
 the Company is terminated prior to a Change in Control (as defined in Section 10(a) below)
 or after the Change in Control Period (as defined in Section 9(a) below) or (y) six months
 thereafter if Employee's employment with the Company is terminated during the Change
 in Control Period (so long as the Company makes severance payments to Employee pursuant to <u>Section 7(a)</u> below or makes the payments to Employee pursuant to <u>Section 9(a)</u> below, as appropriate), without the prior written consent of the Company, Employee shall
 not, within the United States: (i) be employed by, or render any services to, (A) any person,
 firm or corporation engaged in the contract production or repair of aircraft parts or any
 other business ("Competitive Business"), which is directly in competition with
 any "material" business conducted by the Company or any of its subsidiaries at
 the time of the termination of Employee's employment with the Company (as used herein

 consolidated revenues for the last full fiscal year for which the Company's audited
 financial statements are available) or (B) any of the Company's customers or other
 persons with whom the Company has a contractual relationship; (ii) engage in any Competitive
 Business for his own account; (iii) be associated with or interested in any Competitive Business
 as an individual, partner, shareholder, creditor, director, officer, principal, agent, employee,
 trustee, consultant, advisor or in any other relationship or capacity; (iv) employ or retain,
 or have or cause any other person or entity to employ or retain, any person who was employed
 or retained by the Company while Employee was employed by the Company; or (v) solicit, interfere
 with, or endeavor to entice away from the Company, for the benefit of a Competitive Business,
 any of its customers or other persons with whom the Company has a contractual relationship.
 Notwithstanding the foregoing, nothing in this Agreement shall preclude Employee from investing
 his personal assets in any manner he chooses, provided, however, that Employee may not, during
 the period referred to in this <u>Section 6(a)</u>, own more than 4.9% of the equity securities
 of any Competitive Business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Employee
 acknowledges and agrees that the Company would be irreparably harmed by violations of <u>Section 4</u> or <u>Section 6(a)</u> above, and in recognition thereof, the Company shall be entitled
 to seek an injunction or other decree of specific performance with respect to any violation
 thereof (without any bond or other security being required) in addition to other available
 legal and equitable remedies.

**7.**  **<u>Severance</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 Company will pay Employee, upon termination of Employee's employment by the Company
 prior to a Change in Control (as defined in <u>Section 10(a)</u> below) and following the
 Change in Control Period (as defined in <u>Section 9(a)</u> below) for any reason other than
 Cause (as defined in <u>Section 10(d)</u> below), or at any time due to Disability (as defined
 in <u>Section 10(c)</u> below), (i) all base salary earned through the date of termination;
 (ii) any annual cash bonus earned by Employee for the fiscal year most recently ended prior
 to the date of termination to the extent unpaid on the date of termination; (iii) continuation
 of Employee's base salary as described in Appendix A (the "Severance Period"),
 paid pursuant to the Company's normal payroll practices and subject to applicable withholding;
 and, further, Employee will be paid at the time annual cash bonuses are paid to other officers
 of similar title a prorated annual bonus equal to the product of (x) the annual bonus,
 if any, that Employee earned for the entire fiscal year prior to the fiscal year in which
 Employee's employment with the Company terminates; and (y) a fraction, the numerator
 of which is the number of days Employee was employed by the Company during the fiscal year
 in which Employee's employment with the Company terminates and the denominator of which
 is the number of days in such year, paid at the time such bonus is paid to the Company's
 other employees of similar title to Employee; provided, however, that all such payment obligations
 shall terminate or lapse immediately upon any breach by Employee of <u>Section</u> <u>4</u>, <u>5</u> or <u>6(a)</u> of this Agreement or if Employee shall commence any action or proceeding
 in any court or before any regulatory agency arising out of or in connection with termination
 of Employee's employment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If
 Employee receives severance pursuant to <u>Section 7(a)</u> and he timely and properly elects
 continuation health care coverage pursuant to the Consolidated Omnibus Budget Reconciliation
 Act of 1985 ("COBRA") under the Company's current group health plan, Employee
 and his/her dependents shall be eligible to continue his coverage, pursuant to COBRA, and
 shall be responsible for the entire COBRA premium for the remainder of the applicable COBRA
 continuation period.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) If
 Employee dies during the Severance Period, any severance payments payable pursuant to <u>Section 7(a)</u> will be paid to the appointed administrator, executor or personal representative
 of Employee's estate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If
 Employee's employment with the Company is terminated for Disability, then the Company's
 obligation to pay severance pursuant to <u>Section 7(a)</u> shall be reduced by payments
 Employee receives under the Company's short-term and/or long-term disability plans,
 if any.

**8.**  **<u>Termination of Employment</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Upon
 and after termination of Employee's employment with the Company howsoever arising,
 Employee shall, upon request by the Company:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) immediately
 return to the Company all correspondence, documents, business calendars/diaries, or other
 property belonging to the Company which is in Employee's possession;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) immediately
 resign from any office Employee holds with the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) cooperate
 fully and in good faith with the Company in the resolution of all matters Employee worked
 on or was involved in during Employee's employment with the Company. Employee's
 cooperation will include reasonable consultation by telephone. Further, in connection
 therewith, Employee will, at the Company's request upon reasonable advance notice and
 subject to Employee's availability, make himself available to the Company in person
 at the Company's premises, for testimony in court, or elsewhere; provided, however,
 that in such event, the Company shall reimburse all of Employee's reasonable expenses
 incurred by Employee in connection therewith following submission to the Company of receipts
 or other evidence of such expense, provided that expenses in excess of $250, in the aggregate,
 must be approved in writing (which may be by e-mail) by the Company.

**9.**  **<u>Change in Control</u>** .

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In
 the event that both a Change in Control of the Company occurs and at any time during
 the 18-month period following the date of the Change in Control (the "Change in Control
 Period") the Company terminates Employee's employment with the Company for any
 reason other than for Cause or Disability, or Employee terminates Employee's employment
 with the Company for Good Reason, in either case, by written notice to the other party (including
 the particulars thereof), and having given the other party the opportunity to be heard with
 respect thereto, then:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The
 Company shall, within 30 days following such termination of employment, pay to Employee,
 in a lump sum, a cash payment in an amount equal to the sum of (A) all base salary earned
 by Employee through the date of termination, (B) any annual cash bonus earned by Employee
 for the fiscal year of the Company most recently ended prior to the date of termination to
 the extent unpaid on the date of termination, (C) a pro rata portion of the annual cash
 bonus together with the fair market value of any stock grant in lieu of annual cash bonus,
 if any, equal to the product of (x) the annual cash bonus, together with the value of any
 restricted stock grant in lieu of annual cash bonus, if any, that Employee would have earned
 for the entire fiscal year in which Employee's employment with the Company terminates
 as if all performance targets have been fully met; and (y) a fraction, the numerator of which
 is the number of days Employee was employed by the Company during the fiscal year in which
 Employee's employment with the Company terminates and the denominator of which is the
 number of days in such year, and (D) any and all other benefits and amounts earned by
 Employee prior to the date of termination to the extent unpaid, all subject to applicable
 withholdings.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The
 Company shall pay to Employee, a cash payment in an amount equal to one and one-half times
 Employee's total base salary for the fiscal year of the Company's most recently
 ended prior to the date of termination (the "Change in Control Payment"). The
 Change in Control Payment will be paid in two installments as follows: (A) the first installment
 will be paid on the date Employee's employment with the Company is terminated, in an
 amount equal to the lesser of: (x) the sum of Employee's total compensation (including
 salary and bonus) for the calendar year preceding the year in which Employee's employment
 with the Company is terminated (adjusted for any increase in base salary during that year
 that was expected to continue indefinitely if Employee had not terminated employment), or
 (y) the maximum amount that may be taken into account under a qualified plan under Internal
 Revenue Code section 401(a)(17) for the year in which Employee's employment with the
 Company is terminated; and (B) the second installment will be paid on the first business
 day following the day that is six months after the date Employee's employment with
 the Company is terminated, in an amount equal to the balance of the Change in Control Payment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Employee
 and Employee's dependents shall continue to be covered by, and receive employee welfare
 and fringe benefits (including but not limited to medical, dental, life, accident and disability
 insurance available to officers of the Company and additional retirement and other fringe
 benefits approved by the President and CEO, and/or the Board of Directors of the Company)
 in accordance with the terms of the Company's benefit plans, for six months following
 the date Employee's employment with the Company is terminated, and the premiums/payments
 of such welfare and fringe benefits will be paid at no less than the levels Employee and
 Employee's dependents were receiving immediately prior to the Change in Control. 
 Employee's dependents shall be entitled to continued benefit coverage pursuant to the
 preceding sentence for the six months following the date Employee's employment with
 the Company is terminated in the event of Employee's death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In
 the event that a Change in Control occurs, all options, or other derivative securities granted
 to Employee by the Company will immediately vest or become immediately exercisable and remain
 exercisable until the award's original expiration date, if any, whether or not Employee's
 employment continues, and all restrictions on restricted stock or restricted stock units
 granted to Employee, if any, will immediately lapse.

**10.**  **<u>Definitions</u>** *.* For purposes of this Agreement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) "Change
 in Control" shall occur if or upon the occurrence of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any
 person (as such term is used in Section 13(d) of the Securities Exchange Act of
 1934, as amended ("Exchange Act"), has acquired (other than directly from the
 Company) beneficial ownership (as that term is defined in Rule 13d-3 under the Exchange
 Act), of more than 50% of the outstanding capital stock of the Company entitled to vote for
 the election of directors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) effective
 time of (A) a merger or consolidation or other business combination of the Company with
 one or more other corporations as a result of which the holders of the outstanding voting
 stock of the Company immediately prior to such business combination hold less than 50% of
 the voting stock of the surviving or resulting corporation, or (B) a transfer of substantially
 all of the assets of the Company other than to an entity of which the Company owns at least
 80% of the voting stock; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the
 individuals who, as of the Effective Date of this Agreement, are members of the Board (the
 "Incumbent Board"), cease for any reason to constitute at least two-thirds of
 the Incumbent Board; provided, however, that if either the election of any new director or
 the nomination for election of any new director was approved by a vote of more than two-thirds
 of the Incumbent Board, such new director shall be considered as a member of the Incumbent
 Board; provided further, however, that no individual shall be considered a member of the
 Incumbent Board if such individual initially assumed office as a result of either an actual
 or threatened "Election Contest" (as described in Rule 14a-11 promulgated under
 the Exchange Act) or other actual or threatened solicitation of proxies or consents by or
 on behalf of a Person other than the Board (a "Proxy Contest"), including by
 reason of any agreement intended to avoid or settle any Election Contest or Proxy Contest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) "Good
 Reason" means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A
 material adverse change in the nature of Employee's title, duties or responsibilities
 with the Company that represents a demotion from his title, duties or responsibilities as
 in effect immediately prior to such Change in Control, or a material reduction in Employee's
 compensation (including benefits), occurring at any time during the Change of Control Period; *provided, however*, that in the event of a Change in Control, no demotion shall be
 deemed to have occurred as long as Employee shall remain as the Company's principal
 financial officer, notwithstanding title;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) A
 failure by the Company to make any payment to Employee when due, unless the payment is not
 material and is being contested by the Company, in good faith;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) A
 liquidation, bankruptcy or receivership of the Company; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) A
 relocation of Employee's primary place of employment of at least 50 miles without Employee's
 consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) "Disability"
 means a physical or mental condition which has prevented Employee from substantially performing
 Employee's assigned duties for a period of 180 consecutive days and which is expected
 to continue to render Employee unable to substantially perform Employee's duties on
 a full-time basis. The Company will make reasonable accommodation for any handicap
 of Employee as may be required by applicable law.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) "Cause"
 means: If the Company, in its sole and absolute discretion, determines that any of
 the following events occur:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Employee's
 refusal or willful failure to substantially perform his duties for the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Employee's
 dishonesty, willful misconduct, misappropriation, breach of fiduciary duty or fraud with
 regard to the Company or its affiliates;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Employee's
 conviction of, or plea of nolo contendere with respect to, a felony (other than a traffic
 violation) or any crime involving, in the sole discretion of the Company, moral turpitude;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Employee's
 improper disclosure of proprietary information or trade secrets of the Company or its business;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) Employee's
 falsification of any records or documents of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) Employee's
 intentional or gross misconduct that injures the business or reputation of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) Employee's
 failure to comply with established policies of the company, including those set forth in
 the Company's employee handbook;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) Employee's
 illegal possession or use of a drug or narcotic on Company property; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) Employee's
 failure to improve his work performance to an acceptable level after Employee was previously
 warned in writing by the Company about poor performance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Without
 limiting the generality of <u>Section 10(d)</u>, the following shall not constitute Cause
 for the termination of employment of Employee or the modification or diminution of any of
 Employee's authority hereunder:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any
 personal or policy disagreement between Employee and the Company or any member of the Company's
 Board of Directors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any
 action taken by Employee in connection with Employee's duties hereunder, or any failure
 to act, if Employee acted or failed to act in good faith and in a manner Employee reasonably
 believed to be in and not opposed to the best interest of the Company and Employee had no
 reasonable cause to believe Employee's conduct was unlawful; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) termination
 of Employee's employment for overall unsatisfactory performance (including, but not
 limited to, failure to meet financial goals).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Termination
 for Cause shall be limited to a good faith finding by resolution of the Compensation and
 Human Resources Committee of the Board, setting forth the particulars thereof. Any
 such action shall be taken at a regular or specially called meeting of the Compensation and
 Human Resources Committee of the Board, after a minimum 10 days' notice thereof to
 Employee, with termination of Employee's employment with the Company for Cause listed
 as an agenda item. Employee will be given a reasonable opportunity to be heard at such
 meeting with counsel present if Employee desires. Any such resolution shall be final
 and binding.

Upon termination of employment by the Company for Cause, no further compensation or benefits shall accrue or be payable to Employee by the Company, except for any compensation, bonus or other benefits which have accrued to Employee prior to the date of any such termination.

Nothing herein shall be construed to prevent the Company from terminating Employee's employment at any time for any reason or for no reason.

**11.**  **<u>Changes in Business</u>** . The Company, acting through its Board of Directors, will at all
 times have complete control over the Company's business and retirement and other employee
 health and welfare benefit plans ("Plans"). Without limiting the generality
 of the foregoing, the Company may at any time or times change or discontinue any or all of
 its present or future operations or Plans (subject to their terms), may close or move any
 one or more of its divisions or offices, may undertake any new servicing or sales operations,
 may sell any one or more of its divisions or offices to any company not controlled, directly
 or indirectly, by the Company or may take any and all other steps which its Board of Directors,
 in its exclusive judgment, shall deem desirable, and Employee shall have no claim or recourse
 against the Company, its officers, directors or employees by reason of such action except
 for enforcement of the provisions of <u>Sections 5</u> and <u>7</u> of this Agreement.

**12.**  **<u>Severance Payment as Sole Obligation</u>** . Except as expressly provided in <u>Sections 7</u> and <u>9</u> above, no further compensation, payments, liabilities or benefits shall accrue
 or be payable to Employee upon or as a result of termination of Employee's employment
 for any reason whatsoever except for any compensation, bonus or other benefits which accrued
 to Employee prior to the date of employment termination.

The amounts paid to Employee under <u>Sections</u> <u>7</u> and <u>9</u> of this Agreement shall be considered severance pay in consideration of Employee agreeing to the obligations of confidentiality, non-disparagement and non-competition set forth in <u>Sections 4</u>, <u>5</u> and <u>6</u>, respectively, and Employee timely returning a signed, dated and notarized original agreement and general release in a form acceptable to the Company, in its sole and absolute discretion (the "Release"), releasing and discharging the Company and its subsidiaries and affiliates from all claims and liabilities relating to his employment with the Company and the termination of his employment, including without limitation, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Family and Medical Leave Act, the Equal Pay Act, ERISA, the Age Discrimination in Employment Act, the Civil Rights Act of 1991, Section 1981 of U.S.C. Title 42, the Sarbanes-Oxley Act of 2002, the Worker Adjustment and Retraining Notification Act of 1988 and the Older Workers Benefit Protection Act of 1990.

**13.**  **<u>Notices</u>** . 
 Any notice or other instrument or thing required or permitted to be given, served or delivered
 to any of the parties hereto shall be delivered personally or deposited in the United States
 mail, with proper postage prepaid, telegram, teletype, cable or facsimile transmission to
 the addresses listed below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If
 to the Company, to:

CPI Aerostructures, Inc.

91 Heartland Blvd.

Edgewood, NY 11717

Attention: Chairman

With a copy to:

Graubard Miller

405 Lexington Avenue 44<sup>th</sup> Floor

New York, NY 10174

Attention: Paul Lucido

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If
 to Employee, to:

the most recent address for Employee in the Company's records

or to such other address as either party may from time to time designate by notice to the other. Each notice shall be effective when such notice and any required copy are delivered to the applicable address.

**14.**  **<u>Non-Assignment</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 Company shall not assign this Agreement or any rights or obligations hereunder without the
 prior written consent of Employee, and any attempted unpermitted assignment shall be null
 and void and without further effect; provided, however, that, upon the sale or transfer of
 all or substantially all of the assets of the Company, or upon the merger by the Company
 into or the combination with another corporation or other business entity, or upon the liquidation
 or dissolution of the Company, this Agreement will inure to the benefit of and be binding
 upon the person, firm or corporation purchasing such assets, or the corporation surviving
 such merger or consolidation, or the shareholder effecting such liquidation or dissolution,
 as the case may be. After any such transaction, the term Company in this Agreement
 shall refer to the entity which conducts the business now conducted by the Company. 
 The provisions of this Agreement shall be binding upon and inure to the benefit of the estate
 and beneficiaries of Employee and upon and to the benefit of the permitted successors and
 assigns of the parties hereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Employee
 agrees on behalf of Employee, Employee's heirs, executors and administrators, and any
 other person or person claiming any benefit under Employee by virtue of this Agreement, that
 this Agreement and all rights, interests and benefits hereunder shall not be assigned, transferred,
 pledged or hypothecated in any way by Employee or by any beneficiary, heir, executor, administrator
 or other person claiming under Employee by virtue of this Agreement and shall not be subject
 to execution, attachment or similar process. Any attempted assigned, transfer, pledge
 or hypothecation or any other disposition of this Agreement or of such rights, interests
 and benefits contrary to the foregoing provisions or the levy or any execution, attachment
 or similar process thereon shall be null and void and without further effect.

**15.**  **<u>Severability</u>** . 
 If any term, clause or provision contained herein is declared or held invalid by any court
 of competent jurisdiction, such declaration or holding shall not affect the validity of any
 other term, clause or provision herein contained.

**16.**  **<u>Construction</u>** . 
 Careful scrutiny has been given to this Agreement by the Company, Employee, and their respective
 legal counsel. Accordingly, the rule of construction that the ambiguities of the
 contract shall be resolved against the party which caused the contract to be drafted shall
 have no application in the construction or interpretation of this Agreement or any clause
 or provision hereof.

**17.**  **<u>Entire Agreement</u>** . This Agreement as amended and restated herein and the other agreements
 referred to herein set forth the entire understanding of the parties and supersede all prior
 agreements, arrangements and communications, whether oral or written, pertaining to the subject
 matter hereof.

**18.**  **<u>Waiver</u>** . 
 No provision of this Agreement may be amended, modified, waived or discharged unless such
 amendment, modification, waiver or discharge is agreed to in writing signed by Employee and
 an authorized officer of the Company. No waiver by either party hereto at any time
 of any breach by the other party hereto of, or compliance with, any condition or provision
 of this Agreement to be performed by such other party shall be deemed a waiver of similar
 or dissimilar provisions or conditions at the same or at any prior or subsequent time.

**19.**  **<u>Governing Law</u>** . The validity, interpretation, construction and performance of this Agreement
 shall be governed by and construed in accordance with the laws of the State of New York without
 regard to its conflicts of law principles.

**20.**  **<u>Clawback</u>** .
 Notwithstanding any other provisions in this Agreement to the contrary, any incentive-based
 compensation, or any other compensation, paid to Employee pursuant to this Agreement or any
 other agreement or arrangement with the Company which is subject to recovery under any law,
 government regulation or stock exchange listing requirement, will be subject to such deductions
 and clawback as may be required to be made pursuant to such law, government regulation or
 stock exchange listing requirement (or any policy adopted by the Company pursuant to any
 such law, government regulation, stock exchange listing requirement or otherwise).

**21.**  **<u>Execution</u>** . 
 This Agreement may be executed in counterparts, each of which shall be deemed an original
 and which shall constitute but one and the same Agreement.

**22.**  **<u>Provisions Regarding Code Section 409A</u>.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) If
 at the time of Employee's termination of employment for reasons other than death he
 is a "Key Employee" as determined in accordance with the procedures set forth
 in Treas. Reg. §1.409A-1(i), any amounts payable to Employee pursuant to this Agreement
 that are subject to Section 409A of the Internal Revenue Code shall not be paid or commence
 to be paid until six months following Employee's termination of employment, or if earlier,
 Employee's subsequent death.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Reimbursements
 or in-kind benefits provided under this Agreement that are subject to Section 409A of
 the Internal Revenue Code are subject to the following restrictions: (1) the amount
 of expenses eligible for reimbursements, or in-kind benefits provided, to Employee during
 a calendar year shall not affect the expenses eligible for reimbursement or the in-kind benefits
 provided in any other calendar year, and (2) reimbursement of an eligible expense shall
 be made as soon as practicable, but in no event later than the last day of the calendar year
 following the calendar year in which the expense was incurred.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Employee's
 right to receive installment payments pursuant to this Agreement shall be treated as the
 right to receive a series of separate and distinct payments.

WITNESS the due execution of this Agreement by the parties hereto as of the day and year first above written.

---

| | |
|:---|:---|
| CPI AEROSTRUCTURES, INC. | CPI AEROSTRUCTURES, INC. |
| By: | /s/ Dorith Hakim |
|  | Name: Dorith Hakim |
|  | Title: Chief Executive Officer |
| /s/ Robert Mannix | /s/ Robert Mannix |
| Name: Robert Mannix | Name: Robert Mannix |

---

APPENDIX A

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| | | |
|:---|:---|:---|
| &nbsp;&nbsp;<u>Date Range</u> | &nbsp;&nbsp;<u>Amount of Severance Pay</u> | &nbsp;&nbsp;<u>Non-compete Period</u> |
| &nbsp;&nbsp;December 8, 2025 to June 7, 2026 | &nbsp;&nbsp;No severance | &nbsp;&nbsp;No non-compete |
| &nbsp;&nbsp;June 8, 2026 to June 30, 2027 | &nbsp;&nbsp;26 weeks' severance | &nbsp;&nbsp;26 weeks |
| &nbsp;&nbsp;After June 30, 2027 | &nbsp;&nbsp;52 weeks' severance | &nbsp;&nbsp;52 weeks |

---