Payoneer Unveils Executive Change-in-Control Severance Plan
Payoneer Global Inc. has adopted a new Change in Control Severance Plan for its executives, including named executive officers. Under the plan, eligible participants who are terminated without cause or resign for good reason following a change in control will receive a lump sum cash payment equal to their annual base salary plus target bonus, up to 12 months of continued medical and dental coverage at active employee rates, and immediate vesting of outstanding time-based equity awards. Treatment of performance-based awards will be handled according to their respective award agreements, with time-vesting conditions deemed satisfied at termination. The Chief Executive Officer and Chief Financial Officer are not currently included in the new plan, but may become eligible if they sign a participation agreement.
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