Frequency Electronics sets $282,505 annual consulting fee for retired CFO Bernstein
FEIM•Frequency Electronics agreed to pay retired CFO Steven L. Bernstein $282,505 annually from November 1, 2026, through October 31, 2027. His outstanding equity awards will continue vesting during the consulting term, and he may qualify for a $38,000 annual lifetime benefit.
1. Consulting agreement
Frequency Electronics entered a consulting agreement with Steven L. Bernstein on October 31, 2026, effective November 1, the day after his retirement as chief financial officer. The agreement runs through October 31, 2027, and pays $282,505 annually in monthly installments; his outstanding restricted stock units and performance stock units will continue vesting during the term.
2. Termination benefits
Completing the initial term or being terminated without Cause qualifies Bernstein for a $38,000 annual lifetime benefit, subject to a claims release. If he is terminated without Cause before the term ends, he is entitled to the remaining consulting fees and immediate vesting of equity awards scheduled to vest within the term.
