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Lakeland Industries Inc. Reports Signing of Termination Agreement

Lakeland Industries Inc. Reports Signing of Termination Agreement 
RONKONKOMA, N.Y., March 15, 2013 /CNW/ - Lakeland Industries, Inc. (the 
"Company") (NASDAQ: LAKE), a leading global manufacturer of industrial 
protective clothing for industry, municipalities, healthcare and to first 
responders on the federal, state and local levels, today announced it has 
reached a Termination Agreement with Mr. Miguel Bastos, President of 
Lakeland's Brazilian subsidiary. Such Agreement will become effective 120 days 
from signing, unless earlier as determined by the Company. This is a part of 
both the Company's efforts to reduce costs and the Company's efforts to 
improve sales. 
(Logo: http://photos.prnewswire.com/prnh/20120611/NY21959LOGO ) 
Mr. Bastos will join a Brazilian organization working with Lakeland to 
strengthen our sales efforts. The Termination Agreement calls for an aggregate 
maximum payout of R$1.1 million (approximately US$550,000), to be paid out 
over a period of approximately two years. Mr. Bastos will continue to receive 
his normal salary for six months and then will receive 3% of Lakeland Brazil's 
sales, which Mr. Bastos will be supporting and generating from an independent 
company, until he reaches a total payout equal to the aggregate $R1.1 million. 
This Termination Agreement pays Mr. Bastos approximately half of the amount 
which would have been paid out for the remaining years of Mr. Bastos's 
Employment Contract, which runs through December 31, 2015. Such termination 
amount has been accrued as of January 31, 2013. 
About Lakeland Industries, Inc.: 
Lakeland Industries, Inc. (NASDAQ: LAKE) manufactures and sells a 
comprehensive line of safety garments and accessories for the industrial 
protective clothing market.  The Company's products are sold by a direct sales 
force and through independent sales representatives to a network of over 1,200 
safety and mill supply distributors. These distributors in turn supply end 
user industrial customers such as chemical/petrochemical, automobile, steel, 
glass, construction, smelting, janitorial, pharmaceutical and high technology 
electronics manufacturers, as well as hospitals and laboratories. In addition, 
Lakeland supplies federal, state, and local government agencies, fire and 
police departments, airport crash rescue units, the Department of Defense, the 
Centers for Disease Control and Prevention, and many other federal and state 
agencies.  For more information concerning Lakeland, please visit the Company 
online at www.lakeland.com. 
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 
1995:  Forward-looking statements involve risks, uncertainties and assumptions 
as described from time to time in Press Releases and 8-K(s), registration 
statements, annual reports and other periodic reports and filings filed with 
the Securities and Exchange Commission or made by management.  All statements, 
other than statements of historical facts, which address Lakeland's 
expectations of sources or uses for capital or which express the Company's 
expectation for the future with respect to financial performance or operating 
strategies can be identified as forward-looking statements.  As a result, 
there can be no assurance that Lakeland's future results will not be 
materially different from those described herein as "believed," "projected," 
"planned," "intended," "anticipated," "estimated" or "expected," which words 
reflect the current view of the Company with respect to future events.  We 
caution readers that these forward-looking statements speak only as of the 
date hereof.  The Company hereby expressly disclaims any obligation or 
undertaking to release publicly any updates or revisions to any such 
statements to reflect any change in the Company's expectations or any change 
in events conditions or circumstances on which such statement is based. 
Christopher Ryan, CJRyan@lakeland.com, or Gary Pokrassa, 
GAPokrassa@lakeland.com, both of Lakeland Industries, +1-631-981-9700 
http://www.lakeland.com 
http://photos.prnewswire.com/prnh/20120611/NY21959LOGO 
SOURCE: Lakeland Industries, Inc. 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/March2013/15/c5532.html 
CO: Lakeland Industries, Inc.
ST: New York
NI: TEX 2575 WNEWS  
-0- Mar/15/2013 20:05 GMT
 
 
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