Document:

Exhibit 10.32 

    

   

  Profit Share Agreement

   

  This Profit Share Agreement (“Agreement”) is made effective as of June 30, 2019 (“Effective Date”) by and between DGS Ltd. an
    exempted Bermuda company (”Company”), and Jeffery Cox, an individual with a residential address at 2572 Saddleback Ct., Castle Rock, CO, 80104-7542 USA (“Cox).

   

  WHEREAS, pursuant to a
    share exchange in 2016 whereby Cox exchanged his shares in Digital Globe Services Limited (“DGS Oldco Shares”) for 3,871,836 common shares of the Company (“DGS Newco Shares”) and further exchanged his DGS Newco Shares in exchange for the issuance of
    322,599 common shares of Ibex Holdings Limited, an exempted Bermuda company (“Ibex”) who is the owner of 100% of the issued share capital of the Company; and

   

  WHEREAS, the parties
    hereto desire to have Cox receive a share of any cash dividends actually paid by the Company to Ibex;

   

  NOW THEREFORE, the parties agree as follows:

   

  		1.	Services. During the term of Cox’s employment with Digital Globe Services Inc., a Delaware company (“DGS US”), Cox shall, upon the Company’s request,
          serve as an executive officer and/or director of the Company, and render duties to the Company associated with such position (s) (collectively, the “Services”).

   

  		2.	Standard of Conduct. In performing any Services, Cox agrees to the following standard of conduct:

   

  		a.	Cox shall comply with all written policies of the Company existing as of the Effective Date and as may be later modified or terminated by the Company in the
          future in its sole discretion (“Company Policies”). All Company Policies will be made available to Cox upon request.

   

  		b.	Cox shall at all times comply with all applicable laws and regulations.

   

  		3.	Fees. In exchange for Cox’s provision of Services, Cox shall be entitled to receive a fee equal to 16.18% of any cash dividends actually paid by the
          Company to Ibex (the “Fees”). All Fees shall be paid to Cox by the end of the month immediately following the month in which such Fees have been earned under this Agreement.

   

  		4.	Term and Termination. The “Term” of this Agreement shall commence on July 1, 2019 and shall continue until the earlier to occur of: (i) the satisfaction
          of any dividend preference on preferred shares issued by Ibex; (ii) the conversion of all preferred shares issued by Ibex into common shares of Ibex; (iii) a sale of substantially all the assets of the Company or its direct or indirect
          subsidiaries to an unaffiliated third party; (iv) a sale of all of the shares held by Ibex in any of DGS Ltd., and IBEX Global Limited (the “Other Portfolio Companies”) to an unaffiliated third party; (v) a sale of substantially all of the assets
          held by any of the Other Portfolio Companies to an unaffiliated third party; and (vi) June 30, 2020.

  
    
      
 

  

  
    	
            

            

            

          	
            In the event of a termination of this
              Agreement for any reason, Company shall pay Cox for any Fees that were earned by Contractor up through the termination date in accordance with the terms of Section 4 and shall not be entitled to earn any Fees after the termination date,
              provided that, if this agreement is terminated pursuant to Section 4 (iv), the Company and Cox shall negotiate in good faith a potential extension of the Term of this Agreement.

          

  

   

  		5.	Relationship of the Parties. It is understood by the parties that Cox is an independent contractor with respect to the Company, and not an employee of
          Company. Company will not, by virtue of this Agreement, provide fringe benefits, including health insurance benefits, paid vacation, or any other employee benefit, for the benefit of Cox, or any of its employees, agents, or principals. Cox shall
          be solely responsible for reporting any Fees received hereunder to the appropriate tax authorities, as well as for the payment of any taxes associated with the payment of such Fees, and shall indemnify and hold harmless the Company against any
          claim arising out or related to any of the foregoing tax reporting and payment obligations.

   

  		6.	Miscellaneous.

   

  		a.	Any notice to be delivered under this Agreement must be sent to the following emails, delivery receipt requested, in order to be deemed a valid written notice
          under this Agreement. Such notices shall be deemed delivered: (i) as of the date of the delivery receipt; (ii)or, if no delivery receipt is given within 48 hours of sending the email, the date of the second business day after the date of sending:

   

  If to Company: christy.oconnor@ibex.co

   

  If to Cox: Jeff.cox@dgsworld.com

   

  Or to such other address as a party may provide in written notice to the other party.

   

  		b.	No waiver of any provision of this Agreement shall be effective by the Company unless set forth in a writing executed by the Company. Company may assign this
          agreement upon providing notice thereof to Cox. All remedies in this Agreement are cumulative to any other remedies a party may have under applicable law. This Agreement constitutes the entire agreement between the parties concerning the subject
          matter hereof. The parties agree that all understandings, oral agreements, and representations made prior to the full execution of this Agreement are void and/or are superseded by this Agreement. This Agreement cannot be modified, changed, or
          amended, except in writing signed by the parties. This Agreement shall be governed by the laws of the District of Columbia, regardless of conflict of law princsiples. Contractor hereby consents to the jurisdiction of the federal and state courts
          of the District of Columbia for any disputes arising out of this Agreement. The parties agree to resolve disputes arising out of or relating to this Agreement pursuant to the Direct Dialogue Program attached hereto as Exhibit A. This Agreement
          may be executed in counterparts and delivered by electronic mail or facsimile.

  
    
      
 

  

  IN WITNESS HEREOF, the parties have agreed to enter into this Agreement as of the Effective Date by affixing their signatures as
    set forth below:

   

  	
          DGS LTD.

        	
           

        	
          JEFFREY COX

        
	
           

        	
           

        	
           

        
	
          /s/ Mohammed Khaishgi

        	
           

        	
          /s/Jeffrey CoxExhibit 10.33

  

   
    

    

    

    

    DATED: June 26, 2019

     

    

     

    

     

    

     

    

     

    

    

    

    
      
        
          (1) IBEX Holdings Limited

        

      

    

    

    

    and

    

    

    
      
        
          (2) The Resource Group International Limited

        

      

    

    

    

    

    

    

    

    

    

    

      

    

    ___________________________________________

    

    

    SHARE SALE AND PURCHASE AGREEMENT

    

    

    in relation to

    

    

    Etelequote Limited

    

    

    ___________________________________________

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    

    Crawford House

    50 Cedar Avenue

    Hamilton, HM 11

    Bermuda

    
      1

      
        

    

    THIS AGREEMENT is executed as a deed as of June 26, 2019.

    

    

    BETWEEN:

    

    

    
      
        	1.	
                IBEX Holdings Limited, an exempted company incorporated and existing under the laws of Bermuda with registration number 52347, having a registered office at Crawford House, 50 Cedar Avenue,
                  Hamilton HM11, Bermuda (the “Seller”); and

              

      

    

    

    

    
      
        	2.	
                The Resource Group International Limited, an exempted company incorporated and existing under the laws of Bermuda with registration number 50201, having a registered office at Crawford House, 50
                  Cedar Avenue, Hamilton HM11, Bermuda (the “Buyer”).

              

      

    

    

    

    INTRODUCTION

    

    

    
      
        	(A)	
                The Buyer is the parent company of the Seller.

              

      

    

    

    

    
      
        	(B)	
                The Seller owns the Sale Shares; and

              

      

    

    

    

    
      
        	

              	(C)	
                As part of a group reorganisation, the Seller wishes to sell and the Buyer wishes to purchase the Sale Shares on the terms and conditions set out in this Agreement.

              

      

    

    

    

    THE PARTIES AGREE AS FOLLOWS:

    

    

    
      
        	1	
                INTERPRETATION

              

      

    

    

    

    
      
        	1.1	
                In this Agreement the following definitions shall apply:

              

      

    

    

    

    	
            “Aggregate Remaining Class C Preference Amount”

          	
            has the meaning given to it in the Certificate of Designation, Preferences and Rights of Series C Convertible Preference Shares relating to the Seller adopted on 21 December 2018;

          
	 	 
	
            “Agreement”

          	
            this Share Sale and Purchase Agreement and its Schedules;

          
	 	 
	
            “ASW”

          	
            ASW Law Limited;

          
	 	 
	
            “Business Day”

          	
            any day (other than a Saturday or Sunday) on which banks are generally open for business in Bermuda for the transaction of normal banking business;

          
	 	 
	
            “Company”

          	
            Etelequote Limited, an exempted limited company incorporated and existing under the laws of Bermuda with registration number 52346;

          
	 	 
	
            “Closing”

          	
            the closing of the sale and purchase of the Sale Shares pursuant to clause 4;

          
	 	 
	
            “Closing Date”

          	
            the date on which Closing occurs, being the date of this Agreement;

          
	 	 
	
             “Encumbrance”

          	
            any mortgage, charge, pledge, lien, hypothecation, option, restriction, right of pre-emption, assignment by way of security, reservation of title, trust, set-off, claim, third party interest or right (legal or
              equitable) or other encumbrance or security interest of any kind however created or arising and any other agreement or arrangement (including a sale and re-purchase arrangement) having similar effect;

          
	 	 
	
            “Purchase Price”

          	
            the purchase price for the Sale Shares set out in clause 3;

          
	 	 
	
            “Sale Shares”

          	
            7,813,493 common shares of par value US$0.0001 each in the capital of the Company;

          
	 	 
	
            “Schedule”

          	
            a schedule to this Agreement;

          
	 	 
	
            “Side Letter”

          	
            the side letter dated as of the date hereof by the Buyer, Anthony Solazzo, and Jeffrey Cox in the form attached as set forth in Exhibit A;

          
	 	 
	
            US$”

          	
            United States Dollar; and

          
	 	 
	
             “Warranties”

          	
            the representations and warranties set out in clause 5 and “Warranty” means any of them.

          

    

    

    
      2

      
        

    

    
      
        	1.2	
                A reference to a “party” is a reference to a party to this Agreement and includes its assignees (if any) and/or the successors in title to substantially the whole of its undertaking and, in the
                  case of an individual, to his or her estate and personal representatives.

              

      

    

    

    

    
      
        	1.3	
                Words denoting the singular include the plural and vice versa; words denoting any one gender include all genders; words denoting persons include firms and corporations and vice versa.

              

      

    

    

    

    
      
        	1.4	
                Headings in this Agreement and in the Schedules are inserted for ease of reference only and do not affect the construction of this Agreement.

              

      

    

    

    

    
      
        	2	
                AGREEMENT TO SELL THE SALE SHARES

              

      

    

    

    

    The Seller shall sell and the Buyer shall purchase the Sale Shares with effect from Closing free from all and any Encumbrance and together with all rights attaching to the Sale Shares and all
      dividends and distributions declared, paid or made by the Company on or after Closing.

    

    

    
      
        	3	
                PURCHASE PRICE

              

      

    

    

    

    The purchase price for the Sale Shares is US$47,900,000.00 (the “Purchase Price”) which shall be satisfied by the Buyer waiving its entitlement to the
      Aggregate Remaining Series C Preference Amount in an amount equivalent to the Purchase Price.

    

    

    
      
        	4	
                CLOSING

              

      

    

    

    

    
      
        	4.1	
                Date and Place

              

      

    

    

    

    Closing shall take place on the Closing Date as soon as practicable following the signing of this Agreement at the offices of ASW, Crawford House, 50 Cedar Avenue, Hamilton, Bermuda.

    

    

    
      
        	4.2	
                Seller’s Obligations

              

      

    

    

    

    At Closing, the Seller shall deliver to the Buyer:

    

    

    
      
        	

              	(a)	
                a duly executed share transfer form for the transfer of the Sale Shares in favour of the Buyer;

              

      

    

    

    

    
      
        	

              	(b)	
                a copy of the resolutions of the board of directors of the Seller approving the Seller’s entry into this agreement and related documents;

              

      

    

    

    

    
      
        	

              	(c)	
                a copy of the resolutions of the board of directors of the Company approving the transfer of the Sale Shares in favour of the Buyer; and

              

      

    

    

    

    
      
        	

              	(d)	
                a copy of the updated register of members of the Company reflecting the transfer of the Sale Shares.

              

      

    

    
      3

      
        

    

    
      
        	4.3	
                Buyer’s Obligations

              

      

    

    

    

    At Closing, the Buyer shall deliver to the Seller:

    

    

    
      
        	

              	(a)	
                a duly executed share transfer form for the transfer of the Sale Shares;

              

      

    

    

    

    
      
        	

              	(b)	
                the Side Letter, duly executed by the Buyer, Anthony Solazzo and Jeffrey Cox; and

              

      

    

    

    

    
      
        	

              	(c)	
                a copy of the resolutions of the board of directors of the Seller approving the Seller’s entry into this agreement and related documents.

              

      

    

    

    

    
      
        	5	
                REPRESENTATIONS AND WARRANTIES

              

      

    

    

    

    
      
        	5.1	
                 The Seller warrants and represents to the Buyers that:

              

      

    

    

    

    
      
        	

              	(a)	
                the Company is an exempted company duly incorporated under the Companies Act 1981, as amended, on 28 February 2017 under registration number 52346 and is validly existing and in good standing under the laws of Bermuda;

              

      

    

    

    

    
      
        	

              	(b)	
                the authorized capital of the Company consists of US$12,000 divided into 118,461,538 common shares of par value US$0.0001 each and 1,538,462 senior preferred shares of par value US$0.0001 each, of which the Sale Shares comprise all of
                  the common shares issued and outstanding and 1,079,137.18 senior preferred shares are issued and outstanding, and the Sale Shares have been duly authorized and validly issued and are fully paid and non-assessable (the term
                  “non-assessable” for the purposes of this Agreement means that no further sums are required to be paid by the Seller to the Company in connection with the issue of such shares);

              

      

    

    

    

    
      
        	

              	(c)	
                the Seller has all requisite power and authority to enter into and perform this Agreement and the other documents to be entered into by it under its terms, including without limitation, the Side Letter and any requisite instrument of
                  transfer or other transaction document;

              

      

    

    

    

    
      
        	

              	(d)	
                this Agreement and the other documents to be entered into by the Seller under its terms constitute (or shall constitute when executed) valid, legal and binding obligations on the Seller enforceable on the terms of this Agreement and
                  such other documents;

              

      

    

    

    

    
      
        	

              	(e)	
                compliance with the terms of this Agreement and the documents referred to in it shall not breach or constitute a default under any of the following:

              

      

    

    

    

    
      
        	

              	(i)	
                any agreement or instrument to which any of the Seller is a party or by which it is bound; or

              

      

    

    

    

    
      
        	

              	(ii)	
                any order, judgment, decree or other restriction applicable to the Seller;

              

      

    

    
      4

      
        

    

    
      
        	

              	(f)	
                the Seller is the sole legal and beneficial owner of the Sale Shares; and

              

      

    

    

    

    
      
        	

              	(g)	
                the Sale Shares are free from all Encumbrances and there is no agreement or commitment given to create an Encumbrance affecting the Sale Shares.

              

      

    

    

    

    
      
        	5.2	
                Each of the Warranties is separate and is not limited by reference to any other Warranty or any other provision in this Agreement.

              

      

    

    

    

    
      
        	5.3	
                The liability of the Seller to the Buyer in respect of any breach of the Warranties shall not in total exceed the Purchase Price.

              

      

    

    

    

    
      
        	6	
                GENERAL

              

      

    

    

    

    
      
        	6.1	
                Notice

              

      

    

    

    

    
      
        	

              	(a)	
                All notices, requests, demands or other communications provided for herein shall be in writing and shall be addressed to the parties at their respective addresses listed in the recitals to this Agreement or addresses as the relevant
                  party shall designate as to itself from time to time in a writing delivered in like manner.

              

      

    

    

    

    
      
        	

              	(b)	
                Any notice is to be hand-delivered, electronically mailed, or sent overnight by prepaid recognized national courier service, and will be deemed to have been received: (i) if hand delivered, at the time of delivery; (ii) if sent by
                  electronic mail, at the time of confirmed transmission; and (iii) if sent by prepaid courier, three (3) days after posting.

              

      

    

    

    

    
      
        	6.2	
                Costs

              

      

    

    

    

    Each of the parties shall bear their own legal, accountancy and other costs, charges and expenses connected with the sale and purchase of the Sale Shares.

    

    

    
      
        	6.3	
                Entire Agreement

              

      

    

    

    

    
      
        	

              	6.3.1	
                Each party acknowledges and agrees with the other that:

              

      

    

    

    

    
      
        	

              	a)	
                this Agreement together with any documents referred to in this Agreement (together the “Transaction Documents”) constitute the entire and only agreement between the parties relating to the
                  subject matter of the Transaction Documents; and

              

      

    

    
      5

      
        

    

    
      
        	

              	b)	
                it has not been induced to enter into any Transaction Document in reliance upon, nor has it been given, any warranty, representation, statement, assurance, covenant, agreement, undertaking, indemnity or commitment of any nature
                  whatsoever other than as are expressly set out in the Transaction Documents.

              

      

    

    

    

    
      
        	

              	6.3.2	
                Nothing in this clause 6.2 shall, however, operate to limit or exclude any liability for fraud.

              

      

    

    

    

    
      
        	6.4	
                Confidentiality

              

      

    

    

    

    Each of the parties agrees that, unless otherwise required by law, regulation, or legal, judicial or administrative process or proceedings, the existence, scope and terms of this Agreement, and any
      information supplied hereunder or contained herein (collectively referred to as the “Proprietary Information”), is proprietary, will be kept confidential and, without the consent of the other party hereto (or,
      in the case of information supplied hereunder, the consent of the party supplying such information), may be disclosed only to those persons within the organizations of each of the parties, their respective counsel and other advisors who need to know
      of such Proprietary Information for the purposes of effecting the transactions contemplated hereby. Such person, counsel and other advisors shall be advised of the obligation to protect the Proprietary Information hereunder and shall agree, prior to
      receiving the Proprietary Information, to maintain its confidentiality. Notwithstanding the foregoing, Proprietary Information shall not include information already in the public domain at the time of its disclosure by a party hereto. The provisions
      of this clause shall survive termination of this Agreement.

    

    

    
      
        	6.5	
                Severability

              

      

    

    

    

    If any section, term, provision, or clause thereof in this Agreement is found or held to be invalid or unenforceable in any jurisdiction in which this Agreement is being performed, such invalid, void
      or otherwise unenforceable provision shall be replaced by another provision, as negotiated in good faith between the Parties, which is as similar as possible in terms to such invalid, void or otherwise unenforceable provision but is valid and
      enforceable and the remainder of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

    

    

    
      
        	6.6	
                Waiver

              

      

    

    

    

    The failure of either party to enforce at any time a clause or part thereof of this Agreement, or the failure to require at any time performance by the other party of a clause or part thereof of this
      Agreement, shall in no way constitute present or future waiver of such clause or part thereof, nor in any way affect the validity of any party to enforce each and every clause of this Agreement.

    

    

    
      
        	6.7	
                Variation

              

      

    

    

    

    No variations to this Agreement shall be effective unless made in writing and executed by both parties to this Agreement.

    

    

    
      
        	6.8	
                Counterparts

              

      

    

    

    

    This Agreement may be executed in any number of counterparts which together shall constitute one agreement. Each party may enter into this Agreement by executing a counterpart and this Agreement
      shall not take effect until it has been executed by both parties.

    

    

    
      
        	6.9	
                Further Assurance

              

      

    

    

    

    The Seller and the Buyer shall each execute or procure the execution of all documents, assurances, acts, matters and things to give full effect to this Agreement.

    

    

    
      
        	6.10	
                Governing Law

              

      

    

    

    

    This Agreement shall be governed by and construed in accordance with the laws of Bermuda without recourse to its conflicts of law principles and shall be subject to the exclusive jurisdiction of the
      Bermuda courts.

    

    

    [SIGNATURE PAGE TO FOLLOW]

    
      6

      
        

    

    IN WITNESS of which this document has been duly executed and delivered as a deed on the date stated at the beginning of this Agreement.

    

    

    The Seller:

    

    

    \s\ Mohammed Khaisghi

                                                                  

    

    Name: Mohammed Khaishgi

    Title: Director

    For and on behalf of

    Etelequote Limited

    

    

    The Buyer:

    

    

    \s\ Mohammed Khaishgi

                                                                        

    

    Name: Mohammed Khaishgi

    Title: Director

    For and on behalf of

    The Resource Group International Limited

    

  

  7

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