SEC Contract Filing

Filing Date: 2024-04-25

Document Content:
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<TYPE>EX-10.19
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<DIV><FONT size="1" style="font-size:1pt;color:white">34011309.5 1 EXECUTIVE EMPLOYMENT AGREEMENT This Employment Agreement (this &#8220;Agreement&#8221;) is made and entered into as of June 22, 2022 (the &#8220;Effective Date&#8221;), by and between Pagaya Technologies US LLC, a Delaware limited liability company (the &#8220;Company&#8221;) and subsidiary of Pagaya Technologies Ltd., a company organized under the laws of the state of Israel (the &#8220;Parent&#8221;), and Amol Naik (&#8220;Executive&#8221; and, together with the Company, and the Parent the &#8220;Parties&#8221;). RECITALS WHEREAS, the Parties intend that Executive shall continue employment as the Chief Operating Officer of Pagaya Technologies Ltd. effective as of June 22, 2022 (the &#8220;Effective Date&#8221;). NOW, THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt of which are hereby acknowledged, the Parties hereto agree as follows: 1. Term. Executive&#8217;s employment with the Company under the terms and conditions of this Agreement shall commence on the Effective Date and shall continue until such time that Executive&#8217;s employment is terminated in accordance with the terms and conditions of Section 5 of this Agreement (the &#8220;Term&#8221;). Notwithstanding any provision of this Agreement to the contrary, Executive shall be employed on an &#8220;at-will&#8221; basis and Executive&#8217;s employment may be terminated by either Party at any time, subject to the notice provisions contained herein that may apply with respect to termination of employment during the Term. 2. Title; Services and Duties. (a) During the Term, Executive shall be employed by the Company as the Parent&#8217;s Chief Operating Officer, and shall report to the Chief Executive Officer/Board of the Parent, pursuant to the terms of this Agreement. (b) During the Term, Executive shall (i) be a full-time employee of the Company, (ii) have such duties, responsibilities and authority as are reasonably prescribed by the Chief Executive Officer/Board of the Parent, as applicable, consistent with Executive&#8217;s position and (iii) devote all of Executive&#8217;s business time and best efforts to the performance of Executive&#8217;s duties to the Company and the Parent and shall not engage in any other business, profession or occupation for compensation. Notwithstanding the foregoing, Executive may (x) serve as a director or advisor of non-profit organizations with the prior approval of the Parent&#8217;s Board of Directors (the &#8220;Board&#8221;), (y) perform and participate in charitable civic, educational, professional, community, industry affairs and other related activities, and (z) manage personal investments; provided, however, that such activities shall be performed outside of Executive&#8217;s working hours for the Company and the Parent, do not materially interfere, individually or in the aggregate, with the performance of Executive&#8217;s duties hereunder and do not breach the terms of the confidentiality and restrictive covenant agreement attached hereto as Exhibit A (the &#8220;Restrictive Covenant Agreement&#8221;), have an adverse impact on the Company or the Parent or give rise to any conflict of interest with any of the Company or Parent&#8217;s business or Executive&#8217;s duties and functions under DocuSign Envelope ID: 17DEE07E-A5D1-4BBD-BAE5-76CF0EB7DF5D </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">34011309.5 2 this Agreement. (c) Executive will work from the Company&#8217;s New York office, although Executive understands and agrees that Executive may be required to travel from time to time for business reasons for no additional consideration, except for the reimbursement of the respective business expenses occurred with such travel according to the Company&#8217;s applicable policy. (d) Executive represents and warrants that the execution and delivery of this Agreement and the fulfillment of the terms hereof does not and will not constitute a default under or breach of any agreement or other instrument to which he is a party or by which Executive is bound to, including without limitation, any previous confidentiality and/or non-competition and/or intellectual property assignment agreement, and does not require the consent of any person or entity. (e) Executive shall inform the Company immediately upon becoming aware of any matter in which Executive or a member of Executive&#8217;s immediate family or affiliate has, or may have, a personal interest, which may create a conflict of interest with Executive&#8217;s duties under Executive&#8217;s employment hereunder. (f) Executive declares and undertakes that Executive shall not receive any payment and/or other benefits from any third party, directly or indirectly, in connection with Executive&#8217;s employment hereunder. (g) Executive hereby consents, of Executive&#8217;s own free will, that the information in this Agreement and any information concerning Executive and gathered by the Company, will be held and managed by the Company or on its behalf, inter alia, on databases, and that the Company shall be entitled to transfer such information to third parties, in Israel or abroad.