POWERFLEET INC - Form 8-K: Current report relating to severance arrangements

Form 8-K: Current report relating to severance arrangements

POWERFLEET, INC.
Incorporated in the United States of America
(File number: 7272486)
Nasdaq share code: AIOT JSE share code: PWR
ISIN: US73931J1097
LEI 2549007NKEFPYEH4MF81
("Powerfleet" or "Company")


FORM 8-K: CURRENT REPORT RELATING TO SEVERANCE ARRANGEMENTS


Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, Powerfleet stockholders are advised that a Form
8-K (the "Form 8-K") has been filed with the U.S. Securities and Exchange Commission.

On May 31, 2025, Powerfleet entered into a second amendment to the severance agreement (the "Severance Agreement
Amendment") with Steve Towe, the Company's Chief Executive Officer, to provide that the bonus payable to Mr.
Towe under his severance agreement in the event any severance benefits are triggered shall be calculated at the rate of
two times the amount of any bonus that would have otherwise been paid to Mr. Towe for the fiscal year during which
Mr. Towe is terminated.

The foregoing description of the Severance Agreement Amendment does not purport to be complete and is qualified in
its entirety by reference to the full text of the Severance Agreement Amendment, which is filed as Exhibit 10.1 to the
Form 8-K and incorporated herein by reference.

A copy of the filing can be found at: https://www.sec.gov/edgar/browse/?CIK=1774170&owner=exclude.

Powerfleet has a primary listing on the Nasdaq and a secondary listing on the Main Board of the JSE.

June 6, 2025


Sponsor
Java Capital

Date: 06-06-2025 08:00:00
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