Powerfleet amends severance agreement with CEO Steve Towe

POWERFLEET INC. (JSE: PWR) announced on June 6, 2025, an amendment to its severance agreement with Chief Executive Officer Steve Towe. The amendment, filed as a Form 8-K with the U.S. Securities and Exchange Commission, modifies the calculation of bonus payments in the event of severance. According to the filing, any severance benefits triggered will result in a bonus calculated at two times the amount of the bonus that would otherwise have been paid to Mr. Towe for the fiscal year in which his termination occurs. The full text of the Severance Agreement Amendment is available as Exhibit 10.1 to the Form 8-K. Powerfleet is listed on the Nasdaq and the Main Board of the JSE. A copy of the filing can be found at: https://www.sec.gov/edgar/browse/?CIK=1774170&owner=exclude.