Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(b) On January 30, 2023, Payoneer Global Inc. (the "Company") announced that
Robert Clarkson will depart as Chief Revenue Officer of the Company on February
15, 2023. Mr. Clarkson will remain employed in an advisory role to assist with
the transition of his duties and responsibilities through September 1, 2023.
In connection with Mr. Clarkson's departure from the Company, the Company and
Mr. Clarkson entered into a Separation Agreement and General Release, dated
January 26, 2023 (the "Separation Agreement"). The Separation Agreement provides
that Mr. Clarkson will cease to serve as Chief Revenue Officer on February 15,
2023 (the "Cessation Date"). Mr. Clarkson will continue to be employed by the
Company to assist with the transition of his duties until September 1, 2023 (the
"Separation Date"). The Separation Agreement provides that in exchange for Mr.
Clarkson's continued employment as an advisor through the Separation Date, his
continued compliance with the restrictive covenants and a release of claims, the
Company will provide Mr. Clarkson: (i) salary continuation payments through the
Separation Date at a rate equal to his annual base salary in effect as of the
Cessation Date, payable in accordance with the Company's regular payroll
schedule; (ii) continued vesting of his restricted stock units through August 2,
2023; (iii) participation in the Company's benefit plans through the Separation
Date; and (iv) payment of the value of any accrued but unused vacation days up
until and including the Cessation Date, to be paid on the Cessation Date. The
Separation Agreement also provides that Mr. Clarkson agrees that, from the
Cessation Date through December 31, 2023, he will not compete with the Company,
will not solicit or hire any employees of the Company or solicit any customer or
potential customer of the Company.
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PAYONEER GLOBAL INC.
January 30, 2023 By: /s/ Scott Galit
Name: Scott Galit
Title: Co-Chief Executive Officer
© Edgar Online, source Glimpses