Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 28, 2012, Green Dot Corporation ("Green Dot") entered into a Separation Agreement and General Release of Claims (the "Agreement") with William Sowell, its former Chief Operating Officer, to provide for the terms of his separation from and associated release of claims against Green Dot. Mr. Sowell's separation was previously reported in a Current Report on Form 8-K filed by Green Dot with the Securities and Exchange Commission on November 15, 2012.
Pursuant to the terms of the Agreement, Mr. Sowell will receive a separation payment of $410,000 at the time of his termination. Mr. Sowell will also be eligible to continue his group health plan coverage at his own expense through COBRA.
The foregoing descriptions of the Agreement are qualified in their entirety by reference to Agreement which is being filed as Exhibit 10.01 to this Current Report on Form 8-K and is incorporated herein by reference. Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.

Number Description 10.01 Separation Agreement and General Release of Claims, dated December 28, 2012, between Green Dot Corporation and William Sowell.

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