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IEC > SEC Filings for IEC > Form 8-K/A on 20-Nov-2013All Recent SEC Filings

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Form 8-K/A for IEC ELECTRONICS CORP


20-Nov-2013

Change in Directors or Principal Officers, Financial Statements and Exhibi


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Salary Arrangements with Executive Officers

On November 13, 2013, the Compensation Committee of the Board of Directors of IEC Electronics Corp. (the "Company") approved in an increase in the salary of Donald S. Doody, the Executive Vice President of the Company, effective January 1, 2014. His adjusted base salary will be $247,200. A description of the salary arrangements for the executive officers of the Company is filed herewith as Exhibit 10.1 and is incorporated herein by reference.

2014 Management Incentive Plan for Executive Officers

On November 13, 2013, the Compensation Committee and the Board of Directors of the Company approved the Management Incentive Plan ("MIP") for fiscal 2014, applicable to executive officers of the Company, W. Barry Gilbert, Chief Executive Officer and Donald S. Doody, Executive Vice President. The MIP provides for cash awards based upon the 2014 fiscal year performance of the Company. A description of the MIP is filed herewith as Exhibit 10.2 and is incorporated herein by reference.

2014 Long Term Incentive Plan for Executive Officers

On November 13, 2013, the Compensation Committee of the Company, and as applicable to the Chief Executive Officer of the Company also the independent members of the Board of Directors, approved the Long Term Incentive Plan ("LTIP") for fiscal 2014. The LTIP is applicable to executive officers, W. Barry Gilbert, Chief Executive Officer, and Donald S. Doody, Executive Vice President, as well as certain designated key employees of the Company. The LTIP provides for awards of restricted stock under the Company's 2010 Omnibus Incentive Compensation Plan based upon 2014 fiscal year performance of the Company. A description of the LTIP is filed herewith as Exhibit 10.3 and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit 10.1 Salary Arrangements with Executive Officers Exhibit 10.2 Summary of Management Incentive Plan for Fiscal 2014 Exhibit 10.3 Summary of Long Term Incentive Plan for Fiscal 2014

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