United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
September 6, 2023 (
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| Item 5.02 | Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b) On September 6, 2023, Payoneer Global Inc. (the “Company”) announced that Keren Levy is expected to depart as President of the Company and General Manager of Merchant Services on September 30, 2023. Ms. Levy will remain employed by a subsidiary of the Company for a transition period through June 30, 2024.
In connection with Ms. Levy’s departure from the Company, the Company’s subsidiary, Payoneer Research and Development Ltd., and Ms. Levy entered into a Separation Agreement dated September 5, 2023 (the “Separation Agreement”). The Separation Agreement provides that Ms. Levy will cease to serve as President, as well as General Manager of Merchant Services, on September 30, 2023 (the “Transition Date”). Ms. Levy will continue to be employed as a non-executive employee until June 30, 2024 (the “Separation Date”) to support the transition of her role as General Manager of Merchant Services during the first three months of such period, and then to be reasonably available to assist on matters relating to areas of her work from time to time through the Separation Date. The Separation Agreement provides for a release of claims upon the receipt of the following amounts and benefits, subject to continued compliance with its terms: (i) salary continuation payments through the Separation Date and eligibility for the 2023 annual bonus; (ii) participation in the Company’s benefit plans through the Separation Date, (iii) payment of the value of any accrued but unused vacation days up until and including the Transition Date, and (iv) continued vesting of her equity awards through the Separation Date. The Separation Agreement also provides that in exchange for the benefits detailed above, Ms. Levy will not compete with the Company, will not solicit or hire any employees of the Company or solicit any customer of the Company, for a period of 12 months following the Transition Date.
SIGNATURE
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. | |||
| September 6, 2023 | By: | /s/ John Caplan | |
| Name: | John Caplan | ||
| Title: | Chief Executive Officer | ||