Company: IPSI
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026455
Chunk: 2379

Company: Innovative Payment Solutions, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 2379
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exercised Options Unexercisable*  
    Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options*  
    Option Exercisable Price*  
    Option Expiration Date 
    Number of Shares or Units of Stock that have  Not Vested  
    Market Value of Shares or Units of Stock  that have  not Vested  
    Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights that have Not Vested  
    Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights that have Not Vested 
  
    William Corbett 
     666,667  
           -  
           -  
    $4.50  
    8/16/2031 
            -  
    $     -  
           -  
             - 

     500,000  
     -  
     -  
    $4.50  
    7/11/2032 
     -  
     -  
     -  
     - 
  
    Richard Rosenblum 
     333,334  
     -  
     -  
    $4.50  
    8/16/2031 
     -  
    $-  
     -  
     - 

33

Agreements with Named
Executive Officers

William Corbett

The Company entered into
an executive employment agreement with William Corbett effective June 24, 2020 (as amended, the “Corbett Employment Agreement”)
which provided that Mr. Corbett be (i) employed as the Company’s Chief Executive Officer for a term of three (3) years, provide
for a base salary of $12,500 per month, (ii) granted a signing bonus of $25,000, (iii) receive a bonus of up to 50% of his the annual
base salary upon the Company’s achievement of $2,000,000 EBITDA and  additional performance bonus payments as may be determined
by the Company’s Board of Directors and (iv) provide for severance in the event of a termination without cause in amount equal