COMMITMENTS AND CONTINGENT LIABILITIES

3 Months Ended

Jun. 30, 2026

COMMITMENTS AND CONTINGENT LIABILITIES

COMMITMENTS AND CONTINGENT LIABILITIES

NOTE 14 - COMMITMENTS AND CONTINGENT LIABILITIES

Employment Agreements

We have employment agreements with each of our executive officers. Such agreements provide for minimum salary levels, adjusted annually, and incentive bonuses that are payable if specified company goals are attained. The aggregate commitment at June 30, 2026 for future executive salaries was $615.

Purchase Commitments

As of June 30, 2026, we had $3,378 in purchase obligations outstanding, which primarily consisted of contractual commitments to purchase new materials and supplies expected to be used over the next twelve months. We also have $14,463 in purchase obligations outstanding for the purchase of machinery and equipment under an arrangement with a certain customer as described above in Note 12-Noncurrent liabilities. The company will be reimbursed in full by the customer for all purchases.

Retirement Benefits

The Company has two defined contribution and savings plans that cover substantially all employees who have completed 90 days of service. Ranor retains the option to match employee contributions. The Company contributed $27 and $17 for the three months ended June 30, 2026 and 2025, respectively.