Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On March 30, 2021, the holders of Deep Lake Capital Acquisition Corp.'s (the
"Company") Class B ordinary shares, par value $0.0001 ("Founder Shares") elected
Jeremy Jonker to serve as a director of the Company. Mr. Jonker will also serve
as a member of the Audit Committee, Compensation Committee and Nominating
Committee, with the Company's Board of Directors having determined that Mr.
Jonker satisfied all applicable requirements to serve on such committees,
including without limitation the applicable independence requirements of the
Nasdaq Capital Market and the Securities Exchange Act of 1934, as amended.
Following the appointment of Mr. Jonker, the Company's Audit Committee,
Compensation Committee and Nominating Committee each consists of Pamela
Attinger, Mark Lenhard, David Motley and Mr. Jonker. Mr. Jonker will serve until
the second Annual Meeting of Stockholders or until his successor shall be
elected and duly qualified.
Mr. Jonker has more than 20 years of experience in advising and executing growth
strategies for companies, such as acquisitions, joint ventures, partnerships and
minority investments. Most recently, Mr. Jonker served as the Senior Vice
President of Consumer In-Store and Digital Commerce at PayPal, where he
spearheaded PayPal and Venmo's in-store payments initiatives and led the teams
responsible for creating a seamless shopping, cash-back and rewards experience
for millions of customers around the globe. Mr. Jonker joined PayPal in May of
2012 to lead Corporate Development (M&A) and PayPal Ventures. Under his
leadership, PayPal made a number of significant acquisitions, including
Braintree, Venmo, Xoom and Honey, and investments backing some of the world's
most innovative start-ups, including Uber, Acorns, Divvy and Plaid. Prior to
working at PayPal, Mr. Jonker was the Vice President and Head of Corporate
Development of Sabre Holdings, where he was responsible for executing the global
M&A initiatives. Prior to Sabre Holdings, Mr. Jonker was an investment banker in
New York with J.P. Morgan. Mr. Jonker holds a Bachelor of Science in Finance
from Indiana University Bloomington - Kelley School of Business, and an MBA with
Distinction from Georgetown University - The McDonough School of Business. The
Company believes Mr. Jonker's extensive ecommerce experience and his experience
in corporate strategy, mergers and acquisitions and other corporate growth
initiatives, make him well qualified to serve as a member of our board of
directors.
There are no arrangements or understandings between Mr. Jonker and any other
person pursuant to which he was elected as a director of the Company, and there
are no family relationships between Mr. Jonker and any of the Company's other
directors or executive officers.
In connection with Mr. Jonker's appointment, he and the Company entered into an
indemnification agreement, a letter agreement and a joinder to the registration
and shareholder rights agreement, each dated as of March 30, 2021, entered into
by the Company with its directors and officers in connection with the Company's
initial public offering. Each of the director indemnification agreement, the
letter agreement and the registration and shareholder rights agreement was
described in, and the forms of which were filed as exhibits to, the Company's
registration statement relating to the Company's initial public offering (File
No. 333-251649).
In connection with his appointment as a director of the Company, Mr. Jonker will
receive 30,000 Founder Shares from the Company's sponsor, Deep Lake Capital
Sponsor LP.
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