On November 16, 2020, the Board of Directors (the “Board”) of Unico American Corporation (the “Company”) appointed Joycelin M. Ray and Steven L. Shea to the Board to fill the vacancies created by Rhonda L. Gillenwaters’ resignation, effective November 15, 2020, and Cary L. Cheldin’s retirement, effective August 10, 2020. Ms. Ray’s and Mr. Shea’s term as director will expire at the next Annual Meeting of Stockholders and thereafter until either her or his successor has been duly elected and qualified, or until either her or his earlier death, resignation or removal. On November 16, 2020, Mr. Shea was appointed as a member of the Company’s Audit Committee and Compensation Committee, and Ms. Ray was appointed as Chairperson of the Company’s Compensation Committee and a member of the Company’s Nominating & Corporate Governance Committee. Ms. Ray, 51, is an accomplished ethics and compliance professional with significant experience in developing, implementing and managing effective ethics and compliance programs and solutions in global organizational settings. She has been a compliance leader in the insurance industry since 1994 and has successfully designed, led and implemented key governance, risk and compliance initiatives nationwide and globally. Currently, she is working with a local non-profit charter school system in Texas as the Director of Compliance. Prior to that, Ms. Ray served as the Vice President of Corporate Compliance at Tokio Marine HCC for 14 years until she semi-retired in November 2020. Throughout the course of her 26-year insurance compliance career, Ms. Ray has held compliance positions of increasing responsibility with several successful insurance entities including American General Life Insurance Company, CNA and Berkley Underwriting Partners, LCC (a division of W.R. Berkley Corp). Ms. Ray also serves on the boards of the David McWilliams YMCA in Houston, Texas and the Sheraton Vistana Resort in Orlando, Texas. Mr. Shea, 61, is a seasoned board level executive with more than thirty five years of experience in the fields of corporate finance, investment banking and institutional investment management. Mr. Shea’s specific areas of expertise include mergers and acquisitions, public and private finance, investment trading, management and research. Mr. Shea became an expert in corporate governance and compliance through advisory service to numerous public companies and as a member of the boards of directors of both public and private companies. Since 2015, Mr. Shea has served as a Chairman of the board of directors of Blonder Tongue Labs Inc., a publicly traded company currently listed on the New York Stock Exchange, and has served as a member of their board of directors since 2009. Mr. Shea has also held executive level positions at Tufton Capital Management, LLC (formerly Hardesty Capital Management, LLC), and Ferris, Baker, Watts Inc. (acquired by Royal Bank of Canada).