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Stock Market & Financial Investment News

News Breaks
March 15, 2013
16:10 EDTLAKELakeland reaches termination agreement with president of subsidiary
Lakeland Industries announced it has reached a termination agreement with Miguel Bastos, president of Lakeland's Brazilian subsidiary. This is a part of both the company's efforts to reduce costs and the company's efforts to improve sales. Bastos will join a Brazilian organization working with Lakeland to strengthen the company's sales efforts. The termination agreement calls for an aggregate maximum payout of $550,000, to be paid out over a period of approximately two years. Bastos will continue to receive his normal salary for six months and then will receive 3% of Lakeland Brazil's sales, which Bastos will be supporting and generating from an independent company, until he reaches a total payout equal to the aggregate $550,000. This agreement pays Bastos approximately half of the amount which would have been paid out for the remaining years of his employment contract, which runs through December 31, 2015.
News For LAKE From The Last 14 Days
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July 23, 2015
16:15 EDTLAKELakeland Industries CFO Gary Pokrassa retiring, Teri Hunt appointed Acting CFO
Lakeland Industries CFO Gary Pokrassa has retired as Chief Financial Officer. Teri W. Hunt, a 10 year veteran of Lakeland and most recently serving as VP, Finance based in the company's Decatur, Alabama offices, has been named as Acting CFO to succeed Pokrassa. Pokrassa has agreed to continue with the company in a consulting capacity for a period of one year.

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