---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-21-044008"
form_type: "8-K"
ticker: "IPSI"
cik: "0001591913"
company_name: "Innovative Payment Solutions, Inc."
filed_at: "2021-08-20T23:59:59+00:00"
generated_at: "2026-06-29T08:39:25.304973+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# CEO William Corbett enters new employment; receives options for 20M shares at $0.15

## Summary
- William Corbett's new employment agreement runs through Dec 31, 2024, with base salary of $30,000 per month.
- Corbett receives option to purchase 20M shares at $0.15 exercise price; 50% vests immediately, 50% over 3 years.
- Corbett eligible for cash bonus based on revenue or financial objectives set by Board; car allowance $800/month.
- Severance: 50% of annual base salary if terminated without cause; 100% if within 12 months of an Acquisition.
- Richard Rosenblum's amendment sets option grant date of Aug 31, 2021 for 10M shares at $0.15 exercise price.

## SEC filing metadata
- accession: 0001213900-21-044008
- form_type: 8-K
- ticker: IPSI
- cik: 0001591913
- company_name: Innovative Payment Solutions, Inc.
- filed_at: 2021-08-20T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1591913/000121390021044008/0001213900-21-044008-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1591913/000121390021044008/ea146209-8k_innovative.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-21-044008
- JSON: https://secwatch.observer/filing/0001213900-21-044008.json
- Plain text: https://secwatch.observer/filing/0001213900-21-044008.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.