Powerfleet Inc. Amends CEO Severance Agreement to Double Bonus Calculation

Reuters

06 Jun

Powerfleet Inc. Amends CEO Severance Agreement to Double Bonus Calculation

Powerfleet Inc. has announced a modification to its severance agreement with CEO Steve Towe. As per the new terms, if any severance benefits are triggered, Towe will be eligible for a bonus calculated at twice the amount of the bonus he would have received for the fiscal year of his termination. This amendment was formalized on May 31, 2025, and aims to adjust the financial terms related to his severance package. The details of this amendment are documented in Exhibit 10.1 of the company's latest Form 8-K filing.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Powerfleet Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001641172-25-013812), on June 05, 2025, and is solely responsible for the information contained therein.

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Amends CEO Severance Agreement to Double Bonus Calculation","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Powerfleet Inc. Amends CEO Severance Agreement to Double Bonus Calculation\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Powerfleet Inc. has announced a modification to its severance agreement with CEO Steve Towe. As per the new terms, if any severance benefits are triggered, Towe will be eligible for a bonus calculated at twice the amount of the bonus he would have received for the fiscal year of his termination. This amendment was formalized on May 31, 2025, and aims to adjust the financial terms related to his severance package. 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Amends CEO Severance Agreement to Double Bonus Calculation\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-06-06 04:15</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Powerfleet Inc. Amends CEO Severance Agreement to Double Bonus Calculation\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Powerfleet Inc. has announced a modification to its severance agreement with CEO Steve Towe. 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ID: 0001641172-25-013812), on June 05, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250605:nNDL844Mvb:1","article_id":"2541674005","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2541674005","pubTimestamp":1749154556,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Powerfleet Inc. has announced a modification to its severance agreement with CEO Steve Towe. 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The details of this amendment are documented in Exhibit 10.1 of the company's latest Form 8-K filing.\n      \n\nDisclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Powerfleet Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. 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