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COMMITMENTS | 6 Months Ended
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Sep. 30, 2021
COMMITMENTS |
COMMITMENTS | NOTE 14 - COMMITMENTS 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 September 30, 2021 for future executive salaries and bonus was approximately $1.2 million. The aggregate commitment at September 30, 2021 for accrued payroll, vacation and holiday pay was approximately $0.8 million for the remainder of our employees. Retirement Benefits Ranor has a defined contribution and savings plan that covers substantially all Ranor employees who have completed 90 days of service. Ranor retains the option to match employee contributions. The Company contributed $43,240 and $42,270 for the three and six months ended September 30, 2021 and 2020, respectively.

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