IEH Corporation filed a current report on Form 8-K on October 27, 2026, disclosing a new three-year employment agreement with Chief Financial Officer, Treasurer and Corporate Secretary Subrata Purkayastha, effective November 1, 2026.

Key Highlights

  • Agreement term: The employment agreement is effective November 1, 2026 and will expire October 31, 2029, according to the filing.
  • Base salary: Ms. Purkayastha will receive a base salary of $293,950 per annum under the agreement.
  • Annual bonus eligibility: She is eligible to receive an annual bonus of up to 100% of base salary, based on performance targets set by the Compensation Committee.
  • Option grant: In connection with the agreement, she will receive 35,000 options to purchase shares of common stock at an exercise price of $29.60 per share, all immediately vested, for the fiscal year ended March 31, 2027.
  • Severance terms: Termination without "cause" or for "good reason" entitles her to 24 months of base salary, continued health and welfare plan participation for up to 24 months, and all accrued but unpaid compensation.
  • Change-in-control provision: The agreement includes a change-in-control clause covering a three-year window, with compensation subject to limitation to avoid excise tax under Section 4999 of the Internal Revenue Code.

IEH Corporation Formalizes CFO Purkayastha's Compensation Package

IEH Corporation (OTC QX:IEHC), a New York-incorporated company headquartered at 140 58th Street, Suite 8E, Brooklyn, NY 11220, reported that it entered into the employment agreement with Ms. Purkayastha on October 23, 2026. The agreement governs her continued role as Chief Financial Officer, Treasurer and Corporate Secretary. According to the filing, the full text of the agreement is attached as Exhibit 10.1 to the current report, and the summary provided in the filing "is qualified in its entirety by reference" to that full text.

The filing states that Ms. Purkayastha will also be eligible to receive equity or performance awards under any long-term incentive compensation plan adopted by the Compensation Committee or the board of directors during the term of the agreement. The 35,000 stock options granted in connection with the agreement carry a par value of $0.01 per share and an exercise price of $29.60 per common share, with immediate vesting upon grant, under the Company's 2020 Equity Based Compensation Plan.

The agreement also subjects Ms. Purkayastha to "customary confidentiality, non-solicitation of employees and non-competition obligations" that the filing states survive the termination of the agreement. The current report was signed by Dave Offerman, Chief Executive Officer and President of IEH Corporation, and dated October 27, 2026. The filing notes that the information furnished under Item 5.02, including Exhibit 10.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934.

What Was Disclosed

IEH Corporation disclosed a three-year employment agreement with CFO Subrata Purkayastha, covering base salary, bonus eligibility, a stock option grant with immediate vesting, severance terms, a change-in-control provision, and post-employment restrictive covenants.