CECO: Acquisition or asset disposal · New financial obligation · Leadership change · Company disclosure

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers Directors Pursuant to Sections 1.7 and 6.3(e) of the Merger Agreement, effective as of the effective time of the First Merger, the size of the Board of Directors of the Company (the “Board”) was increased from eight members to ten members and the Board appointed Marcus J. George and Victor L. Richey, each of whom served as a member of the board of directors of Thermon immediately prior thereto, as directors of the Company to fill the two newly created vacancies on the Board. Mr. George was designated by Thermon in its sole discretion, and Mr. Richey was designated by mutual agreement of the Chairman of the Thermon board and the Chairman of the Board, in each case as a new board designee in accordance with the Merger Agreement. CECO has confirmed that each of Mr. George and Mr. Richey satisfies the applicable Nasdaq independence standards and the written corporate governance policies generally applicable to all members of the Board. Each new director will be compensated for service on the Board in accordance with the Company’s standard director compensation program. The Company has entered into its standard indemnification agreement with each new director. In addition, in connection with the consummation of the Mergers, the Board appointed Todd Gleason, CECO’s Chief Executive Officer and an existing member of the Board, to serve as Chairman of the Board, effective as of the effective time of the First Merger. Mr. Gleason will continue to serve as Chief Executive Officer of the Company. Mr. Jason DeZwirek has been designated as the Lead Independent Director. Item 5.03 Amendments to Articles of Incorporation or Bylaws;