On June 21, 2022, Jeffery Strickland, the Vice President and Chief Financial Officer, Secretary and Treasurer of Atrion Corporation (the “Company”) notified the Company that he intends to retire effective March 3, 2023 (the “Retirement Date”). Mr. Strickland joined the Company in 1983, has served in his current positions since 1997, and will continue serving in those positions on a full-time basis until the Retirement Date. The Company and Mr. Strickland have agreed that Mr. Strickland will continue receiving his annual base salary of $300,000 prorated through the Retirement Date and, subject to providing services on a full-time basis until the Retirement Date, will be entitled to receive, on the first business day after the Retirement Date, the following: (i) all accrued and unpaid vacation pay computed on the basis of his current base salary; (ii) an incentive bonus of $550,000; and (iii) the deferred installment of his incentive bonus for 2021 in the amount of $112,500.

In addition, 134 restricted stock units previously granted to Mr. Strickland, together with dividend equivalents credited with respect to those restricted stock units, that were to vest on August 23, 2024 will be accelerated and vest on the Retirement Date if Mr. Strickland provides services on a full-time basis until the Retirement Date, and 466.5 restricted stock units previously granted to Mr. Strickland, together with dividend equivalents credited with respect to those restricted stock units, will vest on the Retirement Date in accordance with the terms thereof that provide, among other things, for accelerated vesting in the event of Mr. Strickland's retirement.