Document:

Net 1 UEPS Technologies, Inc.: Exhibit 10.14 - Filed by newsfilecorp.com

Exhibit 10.14

NET 1 UEPS TECHNOLOGIES, INC. 
STOCK OPTION
AGREEMENT

     Net 1 UEPS Technologies, Inc., a
Florida corporation (the “Company”) has granted to the Employee
named below (the “Employee”), effective as of the Date of Grant
specified below, an option (the “Option”) to
purchase certain shares of common stock, par value $0.001 per share, of the
Company (the “Shares”) upon the terms and conditions set forth in
this Stock Option Agreement (the “Agreement”) and the Amended and
Restated Stock Incentive Plan of Net 1 UEPS Technologies, Inc. (the
“Plan”), the provisions of which are incorporated into the
Agreement. By signing this Agreement, the Employee: (a) acknowledges he/she has
read this Agreement, (b) accepts the Option subject to all of the terms and
conditions of this Agreement, and (c) agrees to accept as binding, conclusive
and final all decisions or interpretations of the Company upon any questions
arising under this Agreement. For purposes of this Agreement, actions and
determinations to be made by the Company may be made by the Board of Directors
of the Company or by such committee or delegate as may be appointed by the Board
of Directors from time to time.

	Name of Employee: 	 
	Date of Grant (the “Grant
      Date”) 	 
	Number of Option Shares: 	 
	Exercise Price: 	US$
      per Share 
	Option Expiration Date: 	Tenth
      anniversary of the Grant Date 

     For clarity, as used in this
Agreement, the term “exercise” means to acquire ownership of Shares which are
the subject of the Option in accordance with the terms of this Agreement. Except
as provided in Section 6 below, the aggregate number of whole Shares for which
this Option may be exercised as of any date is determined by multiplying the
number of Option Shares listed above by the following percentage, and reducing
that result by the number of Shares previously acquired upon exercise of the
Option:

	Exercise Date 	Percentage 
	 	 
	Prior to the first anniversary of the Grant
      Date 	0% 
	 	 
	On or after the first anniversary of the Grant Date and
      prior to the second anniversary of the Grant Date 	33.33% 
	 	 
	On or after the second anniversary of the
      Grant Date and prior to the third anniversary of the Grant Date 	66.66% 
	 	 
	On or after the third anniversary of the Grant Date. 	100.00% 

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     The Option shall not become
exercisable for any additional Option Shares after the date the Employee’s
employment or other service with the Company and its affiliates terminates for
any reason.

     1.      DEFINITIONS
AND CONSTRUCTION.

     Unless otherwise defined in this
Agreement, capitalized terms have the meanings ascribed to them in the Plan. The
captions and titles contained in this Agreement are for convenience only and do
not affect the meaning or interpretation of any provision of this Agreement.

     2.     
TAX CONSEQUENCES.

     This Option is intended to be a
nonstatutory stock option and shall not be treated as an incentive stock option
within the meaning of Section 422(b) of the Code. This Option will be subject to
the tax laws of the country or jurisdiction in which the Employee is a tax
resident or is otherwise subject to taxation.

     3.     
EXERCISE OF THE
OPTION.

               3.1      Discretionary
Exercise. The Option shall be exercisable in the discretion of
the Employee prior to termination of the Option in an amount not to exceed the
number of Shares for which the Option is then exercisable less the number of
Shares previously acquired upon exercise of the Option. Exercise of the Option
shall be by means of electronic or written notice (the “Exercise
Notice”) in a form authorized by the Company which states the
Employee’s election to exercise the Option, the number of whole Shares for which
the Option is being exercised and such other representations and agreements as
to the Employee’s investment intent with respect to such Shares as may be
required pursuant to the provisions of this Agreement, the Plan or by applicable
law. Further, each Exercise Notice must be (a) signed or otherwise authenticated
by the Employee in a manner acceptable to the Company, (b) received by the
Company or the Company’s authorized representative, in a manner acceptable to
the Company, prior to the termination of the Option as set forth in Section 5 of
this Agreement, and (c) accompanied by full payment of the aggregate Exercise
Price for the number of Shares being purchased. The Option exercise will be
effective upon receipt by the Company or the Company’s authorized representative
of such electronic or written Exercise Notice and the aggregate Exercise Price.
Notwithstanding the foregoing, if at any time the Company determines that the
delivery of Shares under the Plan or this Agreement is or may be unlawful under
the laws of any applicable jurisdiction, or Federal, state or foreign
(non-United States) securities laws, the right to exercise the Option or receive
Shares pursuant to the Option shall be suspended until the Company determines
that such delivery is lawful

               3.2     
Payment of Exercise Price.

                         (a)      Forms
of Consideration Authorized. Except as otherwise provided below,
payment of the aggregate Exercise Price for the number of Shares for which the
Option is being exercised may be made (i) in cash (US dollars) or cash
equivalent acceptable to the Company (including offset against US dollars, if
any, owed by the Company to the Employee as of the date of exercise), (ii) if
permitted by the Company, by tender to the Company, or attestation to the ownership, of whole Shares owned by the
Employee, including Shares deliverable upon exercise of the Option, (iii) by
means of a Cashless Exercise, as defined in Section 3.2(b) of this Agreement,
(iv) if permitted by the Company and the Employee is not an executive officer or
director of the Company, with a promissory note in such form as the Company may
specify that bears a market rate of interest and is fully recourse, (v) by any
other means acceptable to the Company, or (vi) by any combination of the
foregoing as may be permitted by the Company, in its sole discretion. Shares
tendered in payment of the Exercise Price will be valued at their Fair Market
Value as of the date that the exercise occurs.

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                         (b)      Limitations
on Forms of Consideration.

                                   (i)      Tender
of Stock. Notwithstanding the foregoing, the Option may not be exercised by
tender to the Company, or attestation to the ownership, of Shares to the extent
such tender or attestation would violate any law, regulation or agreement
restricting the redemption of the Company’s stock.

                                   (ii)      Cashless
Exercise. A “Cashless Exercise” means the
delivery of a properly executed Exercise Notice together with irrevocable
instructions to a broker in a form acceptable to the Company providing for the
assignment to the Company of the proceeds of a sale or loan with respect to some
or all of the Shares acquired upon the exercise of the Option pursuant to a
program or procedure approved by the Company. The Company reserves the sole and
absolute right to establish, decline, suspend or terminate any such program or
procedure, including with respect to the Employee notwithstanding that such
program or procedures may be available to others.

               3.3      Company-Assisted
Sales of Shares; Grant of Power of Attorney for Sale of Shares. The Employee
acknowledges that he or she has been advised that it may be impracticable for
the Employee on his or her own to sell, or to arrange for a sale through a
broker or otherwise of the Shares acquired upon exercise of the Option.
Therefore, the Company expects to assist the Employee in this regard by
facilitating the sale of Shares obtained through the exercise of the Option,
with the method and timing of such sales to be determined by the Executive
Committee of the Company, although the Company has no obligation to do so.
However, in the event that the Company does attempt to facilitate any such Share
sale, the Company does not represent to the Employee that such sale will be
completed, or if it is completed, that Shares will be sold at any particular
price or require any particular level of brokerage commissions. The Employee
hereby irrevocably constitutes and appoints Dr. Serge C.P. Belamant and Mr.
Herman Gideon Kotze, each with full power and authority to act together or alone
in any matter hereunder and with full power of substitution, the true and lawful
attorneys-in-fact of the Employee (individually an “Attorney” and
collectively the “Attorneys”), with full power and authority in the name
of, for and on behalf of, the Employee with respect to all matters arising in
connection with the sale of the Shares acquired upon the exercise of the Option,
including, but not limited to, the power and authority on behalf of the Employee
to take any and all of the following actions: (i) to sell such Shares (to be
represented by stock option exercise forms executed by the Attorneys) through a
broker, including a transaction in which the broker will act as a principal, at
a purchase price per Share as determined by negotiation between the Company, the
Attorneys and the broker and to complete, execute and deliver a stock power in
relation to the sale of the Shares; (ii) to execute and deliver any document that may be required in connection
with the exercise of the Option and deliver the aggregate Exercise Price and
applicable withholding taxes to the Company on behalf of the Employee; (iii) on
behalf of the Employee, to make representations and warranties and enter into
appropriate agreements to effect the sale of such Shares; (iv) to instruct the
Company’s transfer agent as the Attorneys shall determine on all matters
pertaining to the delivery and custody of certificates for such Shares; (v) to
incur or authorize the incurrence of any necessary or appropriate expense in
connection with the sale of such Shares; (vi) if necessary, to endorse (in blank
or otherwise) on behalf of the Employee the certificate(s) representing such
Shares and a stock power or powers attached to such certificate(s); and (vii) to
sign such other certificates, documents and agreements and take any and all
other actions as the Attorneys may deem necessary or desirable in connection
with the consummation of the transactions contemplated by the power of attorney
granted under this Section 3.3. Each Attorney may act alone in exercising the
rights and powers conferred on the Attorneys.

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Each Attorney is hereby empowered to determine in his sole
discretion the time or times when, the purpose for and the manner in which any
power herein conferred upon him shall be exercised, and the conditions,
provisions or covenants of any instrument or document which may be executed by
him pursuant hereto. The power of attorney granted under this Section 3.3 is an
agency coupled with an interest and all authority conferred hereby shall be
irrevocable, and shall not be terminated by any act of the Employee or by
operation of law, whether by the death, disability or incapacity of the Employee
or by the occurrence of any other event or events. It is understood that the
Attorneys assume no responsibility or liability for any aspect of offering or
selling any Shares acquired upon exercise of the Option and shall not be liable
for any error of judgment or for any act done or omitted or for any mistake of
fact or law except for the Attorneys’ own gross negligence, willful misconduct
or bad faith. It is understood that the Attorneys, in acting pursuant to this
power of attorney, are not acting in a fiduciary capacity on behalf of the
Employee and are not required to, nor will they necessarily, obtain the best
available price or the lowest possible fee or commission when negotiating or
otherwise facilitating any sale of Shares pursuant to this power of attorney.
The power of attorney granted under this Section 3.3 shall be binding upon the
Employee and the Employee’s heirs, legal representatives, distributees,
successors and assigns.

               3.4      Tax
and/or Social Insurance Withholding. At the time any
withholding is required by applicable law, or at any time thereafter as
requested by the Company, the Employee hereby authorizes withholding from
payroll and any other amounts payable to the Employee, and otherwise agrees to
make adequate provision for (including by means of a Cashless Exercise to the
extent permitted by the Company), any sums required to satisfy the federal,
state, local and foreign tax and social insurance withholding obligations of the
Company or its affiliate, if any, which arise in connection with the Option. The
Company shall have no obligation to deliver Shares until the tax and social
insurance withholding obligations of the Company or its affiliate have been
satisfied by the Employee. The Company may, in its sole discretion, permit the
Employee to satisfy, in whole or in part, any tax and social insurance
withholding obligation which may arise in connection with the Option either by
electing to have the Company withhold from the Shares to be issued upon exercise
that number of Shares, or by electing to deliver to the Company already-owned
Shares, in either case having a Fair Market Value (as defined below) equal
to the amount necessary to satisfy the statutory minimum withholding amount
due.

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For purposes of this Agreement, (i) if the Shares are
registered under Section 12(b) or 12(g) of the Securities Exchange Act of 1934,
as amended, and listed for trading on a national exchange or market, “Fair
Market Value” means, as applicable, (a) the closing price on the
relevant date, the average of the high and low sale price on the relevant date
or the average of the closing price over a period of up to thirty consecutive
days immediately prior to or including the relevant date, as determined in the
Company’s discretion, as quoted on the New York Stock Exchange, the American
Stock Exchange, the Nasdaq Global Select Market, or the Nasdaq Global Market;
(b) the last sale price on the relevant date or the average of the last sale
price over a period of up to thirty consecutive days immediately prior to or
including the relevant date, as determined in the Committee’s discretion, as
quoted on the Nasdaq Capital Market; (c) the average of the high bid and low
asked prices on the relevant date quoted on the Nasdaq OTC Bulletin Board
Service or by the National Quotation Bureau, Inc. or a comparable service as
determined in the Company’s discretion; or (d) if the Shares are not quoted by
any of the above, the average of the closing bid and asked prices on the
relevant date furnished by a professional market maker for the Shares, or by
such other source, selected by the Company; provided, however,
that if an average of prices over a period of days is not applicable and no
public trading of the Shares occurs on the relevant date but the Shares are so
listed, then Fair Market Value shall be determined as of the earliest preceding
date on which trading of the Shares does occur; and (ii) if the Shares on the
relevant date are not listed for trading on a national exchange or market, then
Fair Market Value shall be the value established by the Company in good
faith.

               3.5      Certificate
Registration. Physical possession or custody of such stock
certificates shall be retained by the Company until such time as the shares are
transferable without restriction and, thereafter, the Company shall either issue
and deliver to the Employee one or more certificates in the name of the Employee
for that number of Shares purchased by the Employee or provide for
uncertificated, book entry issuance of those Shares.

               3.6      Restrictions
on Issuance of Shares. The issuance of Shares upon exercise
are subject to compliance with all applicable requirements of U.S. federal,
state, local or foreign law with respect to such securities. The Option may not
be exercised if the issuance of Shares upon exercise would violate any
applicable laws or regulations, or any requirement of any stock exchange or
market system upon which the Shares may then be listed. In addition, the Option
may not be exercised unless (i) a registration statement under the Securities
Act of 1933 (the “Securities Act”) shall at the time
of exercise of the Option be in effect with respect to the Shares issuable upon
exercise of the Option or (ii) in the opinion of legal counsel to the Company,
the Shares issuable upon exercise of the Option may be issued in accordance with
the terms of an applicable exemption from the registration requirements of the
Securities Act. THE EMPLOYEE IS CAUTIONED THAT THE OPTION MAY NOT BE EXERCISED
UNLESS THE FOREGOING CONDITIONS ARE SATISFIED. ACCORDINGLY, THE EMPLOYEE MAY NOT
BE ABLE TO EXERCISE THE OPTION WHEN DESIRED EVEN THOUGH THE OPTION IS THEN
EXERCISABLE.

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The inability of the Company to obtain from any regulatory body
having jurisdiction the authority, if any, deemed by the Company’s legal counsel
to be necessary to the lawful issuance and sale of any Shares subject to the
Option shall relieve the Company of any liability in respect of the failure to
issue or sell such Shares as to which such requisite authority shall not have
been obtained. As a condition to the exercise of the Option, the Company may
require the Employee to satisfy any qualifications that may be necessary or
appropriate, to evidence compliance with any applicable law or regulation and to
make any representation or warranty with respect thereto as may be requested by
the Company.

               3.7     
Fractional Shares. The Company shall not be required to
issue fractional shares upon the exercise of the Option.

     4.      NONTRANSFERABILITY
OF THE OPTION.

     During the lifetime of the
Employee, the Option shall be exercisable only by the Employee or the Employee’s
guardian, legal representative or attorney-in-fact. The Option shall not be
subject in any manner to anticipation, alienation, sale, exchange, transfer,
assignment, pledge, encumbrance, or garnishment by creditors of the Employee or
the Employee’s beneficiary, except transfer by will or by the laws of descent
and distribution. Following the death of the Employee, to the extent provided in
Section 6 of this Agreement, the Option may be exercised by the Employee’s legal
representative or by any person empowered to do so under the deceased Employee’s
will or under the then-applicable laws of descent and distribution.

     5.      TERMINATION
OF THE OPTION.

     The Option shall terminate and
may no longer be exercised after the first to occur of (a) the close of business
at the Company’s principal executive office on the Option Expiration Date, (b)
the date specified in Section 6 of this Agreement in the event of the
termination of the Employee’s employment or other service with the Company (such
employment or other service with the Company referred to hereafter as
“Service”), or (c) the occurrence of an event described in Section
9.2 of this Agreement to the extent determined by the Company.

     6.      EFFECT
OF TERMINATION OF
SERVICE.

               6.1     
Option Exercisability. The Option shall terminate immediately upon the
Employee’s termination of Service with the Company and its affiliates to the
extent that it is not exercisable on the date such Service terminates. To the
extent the Option is exercisable on the date such Service terminates, whether or
not such portion of the Option shall continue to be exercisable after such
termination shall be determined in accordance with the remaining provisions of
this Section 6.

                         (a)     
Disability. If the Employee’s Service terminates because of
the Employee’s Disability (as defined below), (i) the portion of the Option that
is not then exercisable shall terminate immediately, and (ii) the portion of the
Option that is then exercisable shall remain exercisable during the six-month
period following such termination of Service, but in no event beyond the
Expiration Date of the Option. Unless sooner terminated, any remaining
unexercised portion of the Option shall terminate upon the expiration of such
six-month period For purposes of this Agreement, “Disability” means the
inability of the Employee to perform in all material respects the Employee’s duties and
responsibilities to the Company, or any affiliate of the Company, by reason of a
physical or mental disability or infirmity which inability is reasonably
expected to be permanent and has continued (i) for a period of six consecutive
months or (ii) such shorter period as the Company may reasonably determine in
good faith. The Disability determination shall be in the sole discretion of the
Company and the Employee (or the Employee’s representative) shall furnish the
Company with medical evidence documenting the Employee’s disability or infirmity
which is satisfactory to the Company.

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                         (b)     
Death. If the Employee’s Service terminates because of the
death of the Employee, (i) the portion of the Option that is not then
exercisable shall terminate immediately, and (ii) the portion of the Option that
is then exercisable shall remain exercisable, by the Employee’s legal
representative or other person who acquired the right to exercise the Option by
reason of the Employee’s death, during the six-month period following such
termination of Service, but in no event beyond the Expiration Date of the
Option. Unless sooner terminated, any remaining unexercised portion of the
Option shall terminate upon the expiration of such six-month period.

                         (c)      No-Fault
Termination. If the Employee’s Service terminates because of a No-Fault
Termination, (i) the portion of the Option that is not then exercisable shall
terminate immediately, and (ii) the portion of the Option that is then
exercisable shall remain exercisable during the 30-day period following such
termination of Service, but in no event beyond the Expiration Date of the
Option. Unless sooner terminated, any remaining unexercised portion of the
Option shall terminate upon the expiration of such 30-day period.
“No-Fault Termination” means the termination of the Employee’s
Service for any reason (other than Disability or death) based on (i) the
constructive dismissal of the Employee; (ii) the early or compulsory retirement
of the Employee in terms of the rules of any relevant Company or affiliate
retirement fund; (iii) the operational requirements of the Company or its
affiliate or (iv) termination by mutual agreement. No-Fault Termination shall
not include any voluntary termination of Service by the Employee other than for
the reasons described in clauses (i) through (iv) of the preceding sentence or
any termination of the Employee’s Service due to the Employee’s misconduct or
other misdemeanor.

               6.2      Other
Termination of Service. If the Employee’s Service terminates for any reason,
except Disability, death, or No-Fault Termination, the Option shall terminate on
the date the Employee’s Service terminates.

     7.      RIGHTS
AS A STOCKHOLDER,
DIRECTOR, EMPLOYEE OR
CONSULTANT.

     The Employee shall have no rights
as a stockholder with respect to any Shares covered by the Option until the date
of the issuance of the Shares for which the Option has been exercised (as
evidenced by the appropriate entry on the books of the Company or of a duly
authorized transfer agent of the Company). No adjustment shall be made for
dividends, distributions or other rights for which the record date is prior to
the date the Shares are issued. The Employee understands and acknowledges that,
except as otherwise provided in a separate, written employment agreement between
the Company or an affiliate and the Employee, the Employee’s employment is “at
will” and is for no specified term. Nothing in this Agreement or the Plan shall
confer upon the Employee any right to continue in the Service of the Company or
an affiliate or interfere in any way with any right of the Company or an
affiliate to terminate the Employee’s service as a director, an employee or
consultant, as the case may be, at any time.

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     8.     
LEGENDS.

     The Company may at any time place
legends referencing any restrictions on transfer and any applicable U.S.
federal, state, or foreign securities law restrictions on all certificates
representing Shares subject to the provisions of this Agreement. The Employee
shall, at the request of the Company, promptly present to the Company any and
all certificates representing Shares acquired pursuant to the Option in the
possession of the Employee in order to carry out the provisions of this
Section.

     9.      ADJUSTMENTS
FOR CORPORATE
TRANSACTIONS AND OTHER
EVENTS.

               9.1      Stock
Dividend, Stock Split and Reverse Stock Split. In the event of a stock
dividend of, or stock split or reverse stock split affecting, the common stock
of the Company, the number of shares covered by and the exercise price and other
terms of the Option, shall, without further action of the Board of Directors of
the Company, be adjusted to reflect such event. The Company shall make
appropriate adjustments, in its discretion, to address the treatment of
fractional shares and fractional cents that arise with respect to adjustment of
the Option as a result of the stock dividend, stock split or reverse stock
split.

               9.2     
Significant Corporate Transaction. In the event of a significant
corporate transaction such as a sale of voting stock, merger, sale of
substantial assets, or other similar corporate event involving the Company, the
Company may, but shall not be obligated to, (A) cancel the Option for fair value
(as determined in the sole discretion of the Company) which may, but need not
be, equal to the excess, if any, of the value of the consideration to be paid in
such corporate transaction to holders of the same number of Shares subject to
the unexercised Option (or, if no consideration is paid in any such transaction,
the Fair Market Value of the Shares subject to such Option) over the aggregate
exercise price of the Option or (B) provide for the issuance of substitute
options that will substantially preserve the otherwise applicable terms of the
Option as determined by the Company in its sole discretion or (C) provide that
for a period of at least 15 days prior to the consummation of such corporate
transaction, the Option shall be exercisable as to all shares subject thereto
and that upon the consummation of such corporate transaction, the Option shall
terminate and be of no further force and effect. The Company may treat the
portion of the Option that is exercisable as of the date of the corporate
transaction differently than the unexercisable portion and, in this regard, may
cause the unexercisable portion of the Option to be canceled without
consideration as of or immediately before the effective time of the transaction
in its sole discretion.

               9.3     
Unusual or Nonrecurring Events. The Company is authorized to make, in its
discretion and without the Employee’s consent, adjustments in the terms and
conditions of the Option in recognition of unusual or nonrecurring events
affecting the Company, or the financial statements of the Company or any
affiliate, or of changes in applicable laws, regulations, or accounting
principles, whenever the Company determines that such adjustments are
appropriate in order to prevent dilution or enlargement of the benefits or
potential benefits intended to be made available under this Agreement.

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     10.      MISCELLANEOUS
PROVISIONS.

               10.1      Reservation
of Shares. The Company will reserve and set apart and have at all times,
free from preemptive rights, a number of authorized but unissued Shares
deliverable upon the exercise of this Option sufficient to enable it at any time
to fulfill all its obligations hereunder.

               10.2     
Further Instruments. The parties hereto agree to execute such further
instruments and to take such further action as may reasonably be necessary to
carry out the intent of this Agreement.

               10.3      Binding
Effect; Parties; Entire Agreement. Subject to the restrictions on transfer
set forth herein, this Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective heirs, executors, administrators,
successors and assigns. This Agreement is between the Employee and the Company.
This Agreement shall constitute the entire understanding and agreement of the
Employee and the Company with respect to the subject matter contained in this
Agreement and supersedes any prior agreements, understandings, restrictions,
representations, or warranties among the Employee and the Company with respect
to such subject matter. To the extent contemplated in this Agreement, the
provisions of this Agreement shall survive any exercise of the Option and shall
remain in full force and effect.

               10.4      Termination
or Amendment. The Company may terminate, amend or suspend the Option at any
time; provided, however, that except as provided in Section 9 of this Agreement,
no such termination or amendment may adversely affect the Option or any
unexercised portion of the Option without the consent of the Employee unless
such termination or amendment is necessary to comply with any applicable law or
government regulation. No amendment or addition to this Agreement shall be
effective unless in writing.

               10.5     
Delivery of Documents and Notices. Any notice required or permitted under
this Agreement shall be given in writing and shall be deemed effectively given
(except to the extent that this Agreement provides for effectiveness only upon
actual receipt of such notice) upon personal delivery, upon electronic delivery
at the e-mail address, if any, provided for the Employee by the Company, or,
upon deposit with an internationally recognized overnight courier service with
postage and fees prepaid, addressed to the other party at the address of such
party set forth in this Agreement or at such other address as such party may
designate in writing from time to time to the other party. 

                         (a)      Description
of Electronic Delivery. The Agreement, the Plan and any reports of the
Company provided generally to the Company’s stockholders may be delivered to the
Employee electronically. In addition, if permitted by the Company, the Employee
may deliver electronically the Exercise Notice called for by Section 3 of this
Agreement to the Company or to such third party as the Company may designate
from time to time. Such means of electronic delivery may include but do not
necessarily include the delivery of a link to a Company intranet or the internet
site of a third party involved in administering the Agreement, the delivery of
the document via e-mail or such other means of electronic delivery specified by
the Company.

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                         (b)     
Consent to Electronic Delivery. The Employee consents to
the electronic delivery of this Agreement and any reports of the Company
provided generally to the Company’s stockholders and, if permitted by the
Company, the electronic delivery of the Exercise Notice. The Employee
acknowledges that he or she may receive from the Company a paper copy of any
documents delivered electronically at no cost to the Employee by contacting the
Company by telephone or in writing. The Employee further acknowledges that the
Employee will be provided with a paper copy of any documents if the attempted
electronic delivery of such documents fails. Similarly, the Employee understands
that the Employee must provide the Company or any designated third party
administrator with a paper copy of any documents if the attempted electronic
delivery of such documents fails. The Employee may revoke his or her consent to
the electronic delivery of documents or may change the electronic mail address
to which such documents are to be delivered (if Employee has provided an
electronic mail address) at any time by notifying the Company of such revoked
consent or revised e-mail address by telephone, postal service or electronic
mail. Finally, the Employee understands that he or she is not required to
consent to electronic delivery of documents.

               10.6     
Applicable Law. This Agreement shall be governed by the laws of the State
of Florida as such laws are applied to agreements between Florida residents
entered into and to be performed entirely within the State of Florida.

               10.7     
Counterparts. This Agreement may be executed in counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

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               10.8     
No Future Entitlement. By execution of this Agreement, the Employee
acknowledges and agrees that: (i) the grant of an Option is a one-time benefit
which does not create any contractual or other right to receive future grants of
Options, or compensation in lieu of Options; (ii) all determinations with
respect to any such future grants, including, but not limited to, the times when
Options shall be granted, the maximum number of Shares subject to each Option
and the Exercise Price, will be at the sole discretion of the Company; (iii) the
value of the Option is outside the scope of the Employee’s employment contract;
(iv) the value of the Option is not part of normal or expected compensation for
purposes of calculating any severance, resignation, redundancy, end of service
payments, bonuses, long-service awards, pension or retirement benefits or
similar payments; (v) the vesting of the Option ceases upon termination of
Service with the Company or transfer of employment from the Company, or other
cessation of eligibility for any reason, except as may otherwise be explicitly
provided in this Agreement; (vi) if the underlying stock does not increase in
value, this Option will have no value, nor does the Company guarantee any future
value; and (vii) no claim or entitlement to compensation or damages arises if
the Option does not increase in value and the Employee irrevocably releases the
Company from any such claim that does arise. Neither this Agreement nor any
provision thereunder shall be construed so as to grant the Employee any right to
remain in the Service of the Company.

               10.9     
Personal Data. For the exclusive purpose of implementing, administering
and managing the Option, the Employee by execution of this Agreement, consents
to the collection, receipt, use, retention and transfer, in electronic or other
form, of his or her personal data by and among the Company and its third party
vendors. The Employee understands that personal data (including but not limited
to, name, home address, telephone number, employee number, employment status,
social security number, tax identification number, job and payroll location,
data for tax withholding purposes and Shares awarded, cancelled, exercised,
vested and unvested) may be transferred to third parties assisting in the
implementation, administration and management of the Option and the Employee
expressly authorizes such transfer as well as the retention, use, and the
subsequent transfer of the data by the recipient(s). The Employee understands
that these recipients may be located in the Employee’s country or elsewhere, and
that the recipient’s country may have different data privacy laws and
protections than the Employee’s country. The Employee understands that data will
be held only as long as is necessary to implement, administer and manage the
Option. The Employee understands that he or she may, at any time, request a list
with the names and addresses of any potential recipients of the personal data,
view data, request additional information about the storage and processing of
data, require any necessary amendments to data or refuse or withdraw the
consents herein, in any case without cost, by contacting in writing the
Company’s legal department representative. The Employee understands, however,
that refusing or withdrawing his or her consent may affect his or her ability to
accept an Option.

- 10 -

               10.10      The
Company’s Rights. The existence of the Option shall not affect in any way
the right or power of the Company or its stockholders to make or authorize any
or all adjustments, recapitalizations, reorganizations or other changes in the
Company's capital structure or its business, or any merger or consolidation of
the Company, or any issue of bonds, debentures, preferred or other stocks with
preference ahead of or convertible into, or otherwise affecting the Shares or
the rights thereof, or the dissolution or liquidation of the Company, or any
sale or transfer of all or any part of the Company's assets or business, or any
other corporate act or proceeding, whether of a similar character or
otherwise.

               10.11      Conformity
with Plan. This Agreement is intended to conform in all respects with, and
is subject to all applicable provisions of, the Plan. Inconsistencies between
this Agreement and the Plan shall be resolved in accordance with the terms of
the Plan. In the event of any ambiguity in this Agreement or any matters as to
which this Agreement is silent, the Plan shall govern. A copy of the Plan is
available upon request to the Company.

	NET 1 UEPS TECHNOLOGIES, INC. 	 	EMPLOYEE 
	  	  	 	  
	By: 	 
    	 	 
    
	  	  	 	Signature 
	Its: 	 
    	 	 
    
	  	  	 	Date 
	Address: 	President Place 	 	 
    
	  	4th Floor 	 	Address 
	  	Johannesburg 2196 	 	 
    
	  	South Africa 	 	  

- 11 -

	               
                         
                         
                         
                         
                         
                         
         Employee: _____________________
	Nonstatutory Stock Option 
	               
                         
                         
                         
                         
                         
                         
                         
         Date: ___________________

STOCK OPTION EXERCISE NOTICE

	Net 1 UEPS Technologies, Inc. 
	Attention: Chief Financial Officer 
	President Place 
	4th Floor 
	Johannesburg 2196 
	South Africa 

Ladies and Gentlemen:

     1. Option. I
was granted an option (the “Option”) to purchase
shares of the common stock (the “Shares”) of Net 1
UEPS Technologies, Inc. (the “Company”) pursuant to
my Stock Option Agreement (the “Agreement”) as
follows:

	Date of Grant: 	 
    
	 	 
	Number of Option Shares: 	 
    
	 	 
	Exercise Price per Share: 	US$
  

     2. Exercise of
Option. I hereby elect to exercise the Option to purchase the
following number of Shares in accordance with the Agreement:

	Total Shares Purchased: 	  
	 	 
	Total Exercise Price (Total Shares X Price per Share) 	US$ 

     3. Payments.
I enclose payment in full of the total exercise price for the Shares in the
following form(s), as authorized by my Agreement:

	[ ] Cash: 	 US$ 
	 	 
	[ ] Check: 	 US$ 
	 	 
	[ ] Tender of Company Stock: 	Contact Company 
	 	 
	[ ] Promissory Note: 	Contact Company 

- 1 -

     4. Tax and Social Insurance
Withholding. I authorize payroll withholding and otherwise will
make adequate provision for the federal, state, local and foreign tax and social
insurance withholding obligations, if any, of the Company or its affiliate in
connection with the Option. I enclose payment in full of my withholding taxes,
if any, as follows:

(Contact Company for amount of tax due.)

	[ ] Cash: 	US$ 
	 	 
	[ ] Check: 	US$ 

5. Employee Information.

	My address is: 	 
	 	 
	 	 
	 	 
	My Tax Identification Number is: 	 

     6. Binding
Effect. I agree that the Shares are being acquired in accordance
with and subject to the terms, provisions and conditions of the Agreement, to
all of which I hereby expressly assent. This Agreement shall inure to the
benefit of and be binding upon my heirs, executors, administrators, successors
and assigns.

     I understand that I am purchasing
the Shares pursuant to the terms of my Agreement, a copy of which I have
received and carefully read and understand.

	 	Very truly yours, 
	 	 
	 	 
	 	(Signature) 

	Receipt of the above is hereby
      acknowledged. 	 
	 	 
	NET 1 UEPS TECHNOLOGIES, INC. 	 
	 	 	 
	By: 	 	 
	 	 	 
	Title: 	 	 
	 	 	 
	Dated: 	 	 

- 2 -Net 1 UEPS Technologies, Inc.: Exhibit 10.15 - Filed by newsfilecorp.com

Exhibit 10.15

NET 1 UEPS TECHNOLOGIES, INC. 
RESTRICTED STOCK AGREEMENT

FOR NON-EMPLOYEE DIRECTORS

     Net 1 UEPS Technologies, Inc., a
Florida corporation (the “Company”) has granted to the
Non-Employee Director named below (“you” or “your”),
effective as of the Grant Date specified below, restricted shares (each, an
“Award Share,” and collectively, the “Award Shares”)
of common stock, par value $0.001 per share, of the Company (the “Common
Stock”) upon the terms and conditions set forth in this Restricted Stock
Agreement (the “Agreement”) and the Amended and Restated 2004
Stock Incentive Plan of Net 1 UEPS Technologies, Inc. (the
“Plan”), the provisions of which are incorporated into this
Agreement. Except as otherwise provided in Section 7 of this Agreement with
respect to applicable tax and social insurance withholding, you are not required
to pay any amount to the Company for the receipt of these Award Shares. By
signing this Agreement, you: (a) acknowledge that you have read this Agreement;
(b) accept the Award Shares subject to all of the terms and conditions of this
Agreement; and (c) agree to accept as binding, conclusive, and final all
decisions or interpretations of the Company upon any questions arising under
this Agreement. For purposes of this Agreement, actions and determinations to be
made by the Company may be made by the Board of Directors of the Company or by
such committee or delegate as may be appointed by the Board of Directors from
time to time.

	Name of Director: 	 
	Date of Grant (the
      “Grant Date”): 	 
	Number of Award Shares: 	 

     1.      DEFINITIONS
AND CONSTRUCTION.

     Unless otherwise defined in this
Agreement, capitalized terms have the meanings ascribed to them in the Plan. The
captions and titles contained in this Agreement are for convenience only and do
not affect the meaning or interpretation of any provision of this Agreement.

     2.     
VESTING; TERMINATION OF
EMPLOYMENT OR
SERVICE.

     (a)      All
of the Award Shares are nonvested and forfeitable as of the Grant Date. For
clarity, as used in this Agreement, the term “vest” means the lapse of
restrictions on the Award Shares in accordance with the terms of this
Agreement.

     (b)      The
Award Shares shall become vested and nonforfeitable, if at all, in accordance
with the rules set forth below, provided that your service with the
Company as a member of its Board of Directors ( “Service”) is
continuous from the Grant Date through the applicable vesting date. No Award
Shares shall vest or become nonforfeitable after the date your Service
terminates for any reason. If your Service with the Company ceases for any
reason, all Award Shares that are not then vested and nonforfeitable will be
immediately forfeited by you and transferred to the Company upon such cessation
for no consideration.

     (c)      Vesting
of the Award Shares is conditioned upon your continuous Service through the
applicable vesting date. The aggregate number of whole Award Shares subject to
this Agreement that shall have become vested as of any date is determined by
multiplying the number of Award Shares listed above by the following percentage
and rounding down:

	Vesting Date 	Percentage 
	Prior to the first anniversary of the Grant Date 	0% 
	On or after the first anniversary of the Grant Date and
      prior to the second anniversary of the Grant Date 	33.333% 
	On or after the second anniversary of the Grant Date and
      prior to the third anniversary of the Grant Date 	66.666% 
	On or after the third anniversary of the Grant Date 	100% 

     3.      RESTRICTIONS
ON TRANSFER. 

     Any attempt to dispose of any
such Award Shares in contravention of this Agreement shall be null and void and
without effect. The Company shall not be required to (i) transfer on its books
any Award Shares that have been sold or transferred in contravention of this
Agreement or (ii) treat as the owner of Award Shares, or otherwise accord
voting, dividend, or liquidation rights to, any transferee to whom Award Shares
have been transferred in contravention of this Agreement.

     4.      COMPANY-ASSISTED
SALES OF
SHARES; GRANT OF
POWER OF ATTORNEY FOR
SALE OF
SHARES.

     You acknowledge that you have
been advised that it may be impracticable for you on your own to sell, or to
arrange for a sale through a broker or otherwise, vested Award Shares.
Therefore, the Company expects to assist you in this regard by facilitating the
sale of vested Award Shares, with the method and timing of such sales to be
determined by the Executive Committee of the Company, although the Company has
no obligation to do so. However, in the event that the Company does attempt to
facilitate any such sale of vested Award Shares, the Company does not represent
to you that such sale will be completed, or if it is completed, that vested
Award Shares will be sold at any particular price or require any particular
level of brokerage commissions. You hereby irrevocably constitute and appoint
Dr. Serge C.P. Belamant and Mr. Herman Gideon Kotze, each with full power and
authority to act together or alone in any matter hereunder and with full power
of substitution, your true and lawful attorneys-in-fact (individually an
“Attorney,” and collectively, the “Attorneys”), with
full power and authority in your name, for and on your behalf, with respect to
all matters arising in connection with the sale of vested Award Shares,
including, but not limited to, the power and authority on your behalf to take
any and all of the following actions: (i) to sell such vested Award Shares
through a broker, including a transaction in which the broker will act as a
principal, at a purchase price per share as determined by negotiation between
the Company, the Attorneys, and the broker and to complete, execute, and deliver
a stock power in relation to the sale of vested Award Shares; (ii) on your behalf, to make representations and warranties and enter into
appropriate agreements to effect the sale of such vested Award Shares; (iii) to
instruct the Company’s transfer agent as the Attorneys shall determine on all
matters pertaining to the delivery and custody of certificates for such vested
Award Shares; (iv) to incur or authorize the incurrence of any necessary or
appropriate expense in connection with the sale of such vested Award Shares; (v)
if necessary, to endorse (in blank or otherwise) on your behalf the
certificate(s) representing such vested Award Shares and a stock power or powers
attached to such certificate(s); and (vi) to sign such other certificates,
documents, and agreements and take any and all other actions as the Attorneys
may deem necessary or desirable in connection with the consummation of the
transactions contemplated by the power of attorney granted under this Section 4.
Each Attorney may act alone in exercising the rights and powers conferred on the
Attorneys. Each Attorney is hereby empowered to determine in his sole discretion
the time or times when, the purpose for and the manner in which any power herein
conferred upon him shall be exercised, and the conditions, provisions, or
covenants of any instrument or document which may be executed by him pursuant
hereto. The power of attorney granted under this Section 4 is an agency coupled
with an interest and all authority conferred hereby shall be irrevocable, and
shall not be terminated by any act of yours or by operation of law, whether by
your death, disability, or incapacity or by the occurrence of any other event or
events. It is understood that the Attorneys assume no responsibility or
liability for any aspect of offering or selling any vested Award Shares and
shall not be liable for any error of judgment or for any act done or omitted or
for any mistake of fact or law except for the Attorneys’ own gross negligence,
willful misconduct, or bad faith. It is understood that the Attorneys, in acting
pursuant to this power of attorney, are not acting in a fiduciary capacity on
your behalf and are not required to, nor will they necessarily, obtain the best
available price or the lowest possible fee or commission when negotiating or
otherwise facilitating any sale of Award Shares pursuant to this power of
attorney. The power of attorney granted under this Section 4 shall be binding
upon you and your heirs, legal representatives, distributees, successors, and
assigns.

     5.      CERTIFICATE
REGISTRATION.

     Physical possession or custody of
such stock certificates shall be retained by the Company until such time as the
Award Shares are transferable without restriction and, thereafter, the Company
shall either issue and deliver to you one or more certificates in your name for
the applicable number of vested Award Shares or provide for uncertificated, book
entry issuance of those Award Shares. Upon the request of the Company, you shall
deliver to the Company a stock power, endorsed in blank, with respect to any
Award Shares that have been forfeited pursuant to this Agreement. All regular
cash dividends on the Award Shares held by the Company will be paid directly to
you on the dividend payment date.

     6.     
LEGENDS.

     Until the Award Shares become
transferable, the Company may at any time place legends referencing any
restrictions on transfer and any applicable U.S. federal, state, or foreign
securities law restrictions on all certificates representing Award Shares
subject to the provisions of this Agreement. You shall, at the request of the
Company, promptly present to the Company any and all certificates representing
Award Shares in your possession in order to carry out the provisions of this
Section 6.

     7.     
TAX AND/OR
SOCIAL INSURANCE
WITHHOLDING.

               7.1      Generally.
At the time any withholding is required by applicable law, or at any time
thereafter as requested by the Company, you hereby authorize withholding from
payroll and any other amounts payable to you, and otherwise agree to make
adequate provision for any sums required to satisfy the federal, state, local,
and foreign tax and social insurance withholding obligations of the Company or
its affiliate, if any, which arise in connection with the grant or vesting of
the Award Shares. The Company shall have no obligation to deliver shares of
Common Stock or issue any Common Stock certificate until you have satisfied the
tax and social insurance withholding obligations of the Company or its
affiliate. The Company may, in its sole discretion, permit you to satisfy, in
whole or in part, any tax and social insurance withholding obligation which may
arise in connection with the grant or vesting of Award Shares either by electing
to have the Company withhold the issuance or delivery of shares of Common Stock
due to you, or by electing to deliver to the Company already-owned Award Shares,
in either case having a Fair Market Value (as defined below) equal to the amount
necessary to satisfy the statutory minimum withholding amount due. For purposes
of this Agreement, (i) if the shares of Common Stock are registered under
Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as amended, and
listed for trading on a national exchange or market, “Fair Market
Value” means, as applicable, (a) the closing price on the relevant date,
the average of the high and low sale price on the relevant date, or the average
of the closing price over a period of up to 30 consecutive days immediately
prior to or including the relevant date, as determined in the Company’s
discretion, as quoted on the New York Stock Exchange, the American Stock
Exchange, the NASDAQ Global Select Market, or the NASDAQ Global Market; (b) the
last sale price on the relevant date or the average of the last sale price over
a period of up to 30 consecutive days immediately prior to or including the
relevant date, as determined in the Committee’s discretion, as quoted on the
NASDAQ Capital Market; (c) the average of the high bid and low asked prices on
the relevant date quoted on the NASDAQ OTC Bulletin Board Service or by the
National Quotation Bureau, Inc. or a comparable service as determined in the
Company’s discretion; or (d) if the shares of Common Stock are not quoted by any
of the above, the average of the closing bid and asked prices on the relevant
date furnished by a professional market maker for the shares, or by such other
source, selected by the Company; provided, however, that if an
average of prices over a period of days is not applicable and no public trading
of the shares occurs on the relevant date but the shares are so listed, then
Fair Market Value shall be determined as of the earliest preceding date on which
trading of the shares does occur; and (ii) if the shares of Common Stock on the
relevant date are not listed for trading on a national exchange or market, then
Fair Market Value shall be the value established by the Company in good
faith.

               7.2      Section
83(b) Election. If you are a United States taxpayer, you hereby acknowledge
that you have been advised by the Company to seek independent tax advice from
your own advisors regarding the availability and advisability of making an
election under Section 83(b) of the Internal Revenue Code of 1986, as amended,
and that any such election, if made, must be made within 30 days of the Grant
Date. You expressly acknowledge that you are solely responsible for filing any
such Section 83(b) election with the appropriate governmental authorities,
irrespective of the fact that such election is also delivered to the Company.
You may not rely on the Company or any of its officers, directors, or employees
for tax or legal advice regarding this award. You acknowledge that you have
sought tax and legal advice from your own advisors regarding this award or have
voluntarily and knowingly foregone such consultation.

     8.     
ADJUSTMENTS FOR CORPORATE
TRANSACTIONS AND OTHER
EVENTS.

               8.1     
Stock Dividend, Stock Split, and Reverse Stock Split. Upon a stock
dividend of, or stock split or reverse stock split affecting, the Common Stock,
the number of Award Shares and the number of such Award Shares that are
nonvested and forfeitable shall, without further action of the Board of
Directors of the Company, be adjusted to reflect such event. The Company shall
make appropriate adjustments, in its discretion, to address the treatment of
fractional shares with respect to the Award Shares as a result of the stock
dividend, stock split, or reverse stock split; provided, however,
that such adjustments do not result in the issuance of fractional Award Shares.
Adjustments under this Section 8.1 will be made by the Company, whose
determination as to what adjustments, if any, will be made and the extent
thereof will be final, binding, and conclusive.

               8.2     
Binding Nature of Agreement. The terms and conditions of this Agreement
shall apply with equal force to any additional and/or substitute securities
received by you in exchange for, or by virtue of your ownership of, the Award
Shares, to the same extent as the Award Shares with respect to which such
additional and/or substitute securities are distributed, whether as a result of
any spin-off, stock split-up, stock dividend, stock distribution, other
reclassification of the Common Stock of the Company, or similar event, except as
otherwise determined by the Company. If the Award Shares are converted into or
exchanged for, or stockholders of the Company receive by reason of any
distribution in total or partial liquidation or pursuant to any merger of the
Company or acquisition of its assets, securities of another entity, or other
property (including cash), then the rights of the Company under this Agreement
shall inure to the benefit of the Company’s successor, and this Agreement shall
apply to the securities or other property (including cash) received upon such
conversion, exchange, or distribution in the same manner and to the same extent
as the Award Shares.

     9.      RIGHTS
AS A STOCKHOLDER, DIRECTOR, OR CONSULTANT.

               9.1     
Rights as a Stockholder. Except as otherwise provided in this Agreement
with respect to restrictions on transfer of any nonvested and forfeitable Award
Shares, you are entitled to all rights of a stockholder of the Company,
including the right to vote the Award Shares and receive dividends and/or other
distributions declared on the Award Shares.

               9.2      Director
or Consultant Status. You understand and acknowledge that, except as
otherwise provided in a separate, written service or consulting agreement
between you and the Company or an affiliate, your Service is at the discretion
of the Company and is for no specified term. Nothing in this Agreement or the
Plan shall confer upon you any right to continue in the Service of the Company
or an affiliate or interfere in any way with any right of the Company or an
affiliate to terminate your Service as a director or consultant, as the case may
be, at any time.

     10.      MISCELLANEOUS
PROVISIONS.

               10.1      Further
Instruments. The parties hereto agree to execute such further instruments
and to take such further action as may reasonably be necessary to carry out the
intent of this Agreement.

               10.2      Binding
Effect; Parties; Entire Agreement. Subject to the restrictions on transfer
set forth herein, this Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective heirs, executors,
administrators, successors, and assigns. This Agreement is between you and the
Company. This Agreement shall constitute the entire understanding and agreement
between you and the Company with respect to the subject matter contained in this
Agreement and supersedes any prior agreements, understandings, restrictions,
representations, or warranties among you and the Company with respect to such
subject matter.

               10.3      Amendment.
This Agreement may be amended from time to time by the Company in its
discretion; provided, however, that this Agreement may not be
modified in a manner that would have a materially adverse effect on the Award
Shares as determined in the discretion of the Company, except as provided in the
Plan or in a written document signed by each of the parties hereto.

               10.4      Delivery
of Documents and Notices. Any notice required or permitted under this
Agreement shall be given in writing and shall be deemed effectively given
(except to the extent that this Agreement provides for effectiveness only upon
actual receipt of such notice) upon personal delivery, upon electronic delivery
at the e-mail address, if any, provided for you by the Company, or, upon deposit
with an internationally recognized overnight courier service with postage and
fees prepaid, addressed to the other party at the address of such party set
forth in this Agreement or at such other address as such party may designate in
writing from time to time to the other party. 

                         (a)      Description
of Electronic Delivery. This Agreement, the Plan, and any reports of the
Company provided generally to the Company’s stockholders may be delivered to you
electronically. Such means of electronic delivery may include but do not
necessarily include the delivery of a link to a Company intranet or the internet
site of a third party involved in administering this Agreement, the delivery of
the document via e-mail or such other means of electronic delivery specified by
the Company.

                         (b)      Consent
to Electronic Delivery. You consent to the electronic delivery of
this Agreement and any reports of the Company provided generally to the
Company’s stockholders. You acknowledge that you may receive from the Company a
paper copy of any documents delivered electronically at no cost to you by
contacting the Company by telephone or in writing. You further acknowledge that
you will be provided with a paper copy of any documents if the attempted
electronic delivery of such documents fails. Similarly, you understand that you
must provide the Company or any designated third party administrator with a
paper copy of any documents if the attempted electronic delivery of such
documents fails. You may revoke your consent to the electronic delivery of
documents or may change the electronic mail address to which such documents are
to be delivered (if you have provided an electronic mail address) at any time by
notifying the Company of such revoked consent or revised e-mail address by
telephone, postal service, or electronic mail. Finally, you understand that you
are not required to consent to electronic delivery of documents.

               10.5      Applicable
Law. This Agreement shall be governed by the laws of the State of Florida as
such laws are applied to agreements between Florida residents entered into and
to be performed entirely within the State of Florida.

               10.6      Counterparts.
This Agreement may be executed in counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.

               10.7      No
Future Entitlement. By execution of this Agreement, you acknowledge and
agree that: (i) the grant of Award Shares is a one-time benefit which does not
create any contractual or other right to receive future grants of Award Shares,
or compensation in lieu of Award Shares; (ii) all determinations with respect to
any such future grants, including, but not limited to, the times when Award
Shares shall be granted and the maximum number of Award Shares granted, will be
at the sole discretion of the Company; (iii) the value of the Award Shares is
outside the scope of your service or consulting contract, if any; (iv) the value
of the Award Shares is not part of normal or expected compensation for purposes
of calculating any severance, resignation, redundancy, end of service payments,
bonuses, long-service awards, pension or retirement benefits, or similar
payments; (v) the vesting of the Award Shares ceases upon termination of Service
with the Company or other cessation of eligibility for any reason, except as may
otherwise be explicitly provided in this Agreement; and (vi) no claim or
entitlement to compensation or damages arises if the Award Shares do not
increase in value and you irrevocably release the Company from any such claim
that does arise. Neither this Agreement nor any provision hereunder shall be
construed so as to grant you any right to remain in the Service of the
Company.

               10.8      Personal
Data. For the exclusive purpose of implementing, administering, and managing
the Award Shares, you, by execution of this Agreement, consent to the
collection, receipt, use, retention, and transfer, in electronic or other form,
of your personal data by and among the Company and its third party vendors. You
understand that personal data (including but not limited to, name, home address,
telephone number, employee number, employment status, social security number,
tax identification number, job, and payroll location, data for tax withholding
purposes, and Award Shares granted, forfeited, vested, and unvested) may be
transferred to third parties assisting in the implementation, administration,
and management of the Award Shares and you expressly authorize such transfer as
well as the retention, use, and the subsequent transfer of the data by the
recipient(s). You understand that these recipients may be located in your
country or elsewhere, and that the recipient’s country may have different data
privacy laws and protections than your country. You understand that data will be
held only as long as is necessary to implement, administer, and manage the Award
Shares. You understand that you may, at any time, request a list with the names
and addresses of any potential recipients of the personal data, view data,
request additional information about the storage and processing of data, require
any necessary amendments to data or refuse or withdraw the consents herein, in
any case without cost, by contacting in writing the Company’s legal department
representative. You understand, however, that refusing or withdrawing your
consent may affect your ability to accept an Award Share.

               10.9     
The Company’s Rights. The existence of the Award Shares shall not affect
in any way the right or power of the Company or its stockholders to make or
authorize any or all adjustments, recapitalizations, reorganizations or other
changes in the Company’s capital structure or its business, or any merger or
consolidation of the Company, or any issue of bonds, debentures, preferred or
other stocks with preference ahead of or convertible into, or otherwise
affecting the Common Stock or the rights thereof, or the dissolution or
liquidation of the Company, or any sale or transfer of all or any part of the
Company’s assets or business, or any other corporate act or proceeding, whether
of a similar character or otherwise.

               10.10      Conformity
with Plan. This Agreement is intended to conform in all respects with, and
is subject to all applicable provisions of, the Plan. Inconsistencies between
this Agreement and the Plan shall be resolved in accordance with the terms of
the Plan. In the event of any ambiguity in this Agreement or any matters as to
which this Agreement is silent, the Plan shall govern. A copy of the Plan is
available upon request to the Company.

	NET 1 UEPS TECHNOLOGIES, INC. 	 	DIRECTOR 
	  	  	 	  
	  	  	 	  
	  	  	 	  
	By: 	 
    	 	 
    
	Its 	  	 	Signature 
	  	  	 	  
	  	  	 	  
	Date: 	 
    	 	Date:
    
	  	  	 	  
	  	  	 	  
	Address: 	President Place 	 	 
    
	  	4th Floor 	 	Address 
	  	Johannesburg 2196 	 	  
	  	South Africa

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