{"url_path":"/sec/payd/10-k/2026/item-13","section_key":"item-13","section_title":"Item 13 Certain Relationships and Related Transactions, and Director Independence**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-03-31","source_url":"https://www.sec.gov/Archives/edgar/data/1017655/0001437749-26-010730-index.html","accession_number":"0001437749-26-010730","cik":"0001017655","ticker":"PAYD","issuer_name":"PAID INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1017655/0001437749-26-010730-index.html","primary_entity_key":"0001017655","primary_entity_name":"PAID INC"},"word_count":215,"has_tables":true,"body_markdown":"**Item 13. Certain Relationships and Related Transactions, and Director Independence**\n\n \n\nThe Company did not engage in any transaction in 2025 or 2024, and does not currently propose any transaction, in which the Company was a participant whereas the amount involved exceeds $120,000, and in which any related person had or will have a direct or indirect material interest.\n\n \n\n**Review, Approval or Ratification of Transactions with Related Parties**\n\n \n\nIt is our unwritten policy, which policy is not otherwise evidenced, for any related party transaction that involves more than a de minimis obligation, expense or payment or stock option or equity grants, to obtain approval by our entire board of directors prior to our entering into any such transaction. In conformity with our various policies on related party transactions, any transactions discussed in this Item 12 have been reviewed and approved by our board of directors.\n\n \n\n**Director Independence**\n\n \n\nThe Company has a majority of independent directors with Laurie Bradley as the sole member of the compensation committee and Andrew Pilaro is the sole member of the audit committee.\n\n \n\nOur board of directors currently consists of two members. Our board of directors determined that the directors, Andrew Pilaro and Laurie Bradley, are independent under the standards of the “Nasdaq Global Market” pursuant to Nasdaq Listing Rule 5605.\n\n \n\n23"}