Document:

Capital

AGREEMENT
OF LEASE

THE
SCHEDULE

 

 

	1	THE LANDLORD	
    Name:
    MINOAN CAPITAL PTY LTD

    Registration No.:
    2013/130048/07 Represented By: GREGORY VIZIRGIANAKIS

    Postal Address :
    PO BOX 912, Florida,
    1710
	 
	2	THE TENANT	
    Name
    : DISA Medinotec Pty
    Ltd Registration No.:
    2015/117607/07 VAT Reg. No.:
    4720269531

    Represented
    By : Pieter van
    Niekerk

    ID No: 8505205045081

    Postal Address :
    PO BOX 912,
    Florida, 1710
	 
	3	THE LEASED PREMISES	
    Northlands
    Business Park New Market Road

    171 Bush Telegraph
    Avenue Northriding

    2169
	 
	4	THE INITIAL PERIOD	(3) Three-year lease	 
	5	BASIC MONTHLY RENTAL DURING INITIAL PERIOD	
    •      
    R48 887.50
    excluding VAT
    of 15%

    •      
    Including council rates,
    taxes and levies.

    •      
    Tenant to pay own utilities
	 
	6	DEPOSIT OR BANK GUARANTEE	N/A	 
	7	DUE DATE OF PAYMENT OF RENTAL	The first day of the month in advance directly payable to the Landlord	 

	8	USE OF LEASED PREMISES	Sale of Medical Devices	 
	9	
    LETTING
    & ADMINISTRATION
    AGENTS TO WHOM RENTAL

    PAYABLE
	
    Landlord

    
	 
	10	GUARANTOR/S FOR TENANTS	Pieter van Niekerk	 
	11	THE RENEWAL PERIOD	(3) THREE YEARS COMMENCING: 01/02/2020 TERMINATING: 31/01/2023	 

                                                                               

 

    	 		 

    	 

    

 

THE AGREEMENT

 

 

The
LANDLORD and the TENANT enter into an Agreement of Lease in respect of the LEASED
PREMISES on the terms and conditions set out in the SCHEDULE, in Annexure "A" hereto,
in Annexure "B" hereto, if
applicable, in Annexure "C"
hereto, if applicable and in Annexure "D"
hereto, if applicable.

 

 

 

 

 

 

SIGNATURE OF
THE PARTIES

 

 

 

SIGNED
by the LANDLORD at Johannesburg on
this 28th day of January 2020

 

AS
WITNESSES:

1.

2.

 

/s/ Gregory Vizirgianakis

for: Duly Authorized

 

 

 

SIGNED by
the TENANT at Johannesburg on this 29th day of January 2020 

 

AS
WITNESSES:

1.

2.

 

/s/
 

for:
Duly Authorized

  

    	 	2	 

    	 

    

 

ANNEXURE "A"

 

 

		1.	DEFINITIONS

 

 

In
this agreement, unless inconsistent with,
or otherwise indicated by,
the context, the following
terms shall have the meanings assigned to them hereunder,
namely:-

 

	LANDLORD	theparty
recorded in Item 1 of the SCHEDULE;
	 	 
	TENANT	the party
recorded in Item 2 of the SCHEDULE;
	 	 
	GUARANTOR /S	the party
or parties recorded in Item 10
of the SCHEDULE;
		 
	LETTING AND ADMINISTRATION AGENTS	the
agents recorded in Item 09 of
the SCHEDULE or such other person or persons as the LANDLORD may from time to time appoint as its
letting and administration agents;
	 	 
	LEASED PREMISES	the
premises recorded in Item3 of the SCHEDULE; 
	 	 
	BUILDINGS	the
buildings accommodating the LEASED PREMISES;
	 	 
	LAND	the immovable property
on which the BUILDINGS are
erected;
	 	 
	PROPERTY	the LAND and the
BUILDINGS;
		 
	TENANT'S PROPORTIONATEVAT	Value
Added Tax payable in terms
of the Value Added Tax Act No. 89
of 1991, as amended;
	 	 
	SCHEDULE	the schedule to which this Annexure "A"
is attached'
	 	 
	DAY/S	means
calendar days.

		2.	LETTING AND HIRING

 

 

The LANDLORD lets to the TENANT,
which hires the LEASED PREMISES.

 

 

		3.	INITIAL PERIOD

		3.1	This lease is for the
initial period recorded
in Item 4 of the SCHEDULE.

		3.2	If the LEASED PREMISES are not ready
for occupation by the TENANT
on the date of
commencement of this lease
for any reason whatsoever,
the TENANT
shall not claim for cancellation
of this lease or for damages
or for any other right of action
against the LANDLORD.

		3.3	The TENANT shall accept occupation of the
LEASED PREMISES on 1st
of February 2020 and

this
lease will be deemed to have commenced on 1st
of February 2020 regardless of whether
the LEASED PREMISES are ready for occupation or not.

		3.4	If any dispute arises between
the parties as to whether or not the
LEASED PREMISES are ready for occupation by the TENANT,
such dispute shall be referred to
an architect nominated by the
parties jointing and the provisions of sub-clause 11.3.1
hereof shall apply
mutatis mutandis.

 

 

    	 	3	 

    	 

    

 

		4.	BASIC MONTHLY RENTAL

		4.1	The basic monthly rental payable
by the TENANT to the LANDLORD during the initial period is that recorded in Item 5 of the SCHEDULE.

		4.2	The TENANT shall pay the basic monthly
rental in advance on the first day of each and every month, without
deduction or demand and free from bank exchange, payment
to be made into the following account:

 

Bank: Investec Bank Limited

Branch:
100 Grayston Drive

Branch Code: 580105

Account: Current Account

Account Number: XXX XXXXXXX

 

 

		5.	RATES, TAXES, INSURANCES,
OPERATING COSTS & GROUND RENTAL

 

 

		5.1	RATES

 

 

The
TENANT shall pay all rates and other taxes,
which may be levied by the local
municipal authority or any other competent authority on the LAND and I or
the BUILDING. If at any time during
the currency of this lease the rates and taxes on the LAND and
I or the BUILDINGS are increased over and above the
amount of such rates and taxes payable for the municipal year ending immediately prior to the date of commencement
of this lease, the LANDLORD shall be entitled to recover from
the TENANT, in accordance with the provisions of
sub-clauses 5.6 and 5.7
hereof, the whole or a portion,
as the case may be, of such increases
with effect from the date upon which same become effective.

 

 

		5.2	OTHER TAXES

 

 

		5.2.1	If at any time during the currency
of this lease any new tax or levy, not
in the nature of or similar to an income tax,
is imposed
on the LAND and I or
the BUILDINGS,
the LANDLORD shall be entitled to recover from the TENANT,
in accordance with the provisions of sub-clauses 5.6
and

5.7
hereof, the whole or a portion,
as the case may be, of such new tax
or levy with effect from the date upon which same becomes effective.

 

The LANDLORD
shall be entitled to recover from the TENANT, in accordance with
the provisions of sub-clauses

5.6
and 5.7 hereof, an amount or amounts equivalent to any regional
services levy or regional establishment levy or other levy imposed on any amounts payable in terms of this lease,
unless in law the LANDLORD is precluded from recovering such amounts.

 

		5.3	OPERATING COSTS

 

 

		5.3.1	The TENANT acknowledges that it has
acquainted itself with such of the following costs of operating the PROPERTY as are being incurred by the
LANDLORD at the date of commencement of this
lease and the TENANT accepts
that
such operating
costs are being necessarily incurred and are reasonable:

 

		5.3.1.1	the wages,
salaries
and other employment costs of all
employees of the

 

    	 	4	 

    	 

    

 

LANDLORD
engaged in the supervision, operation,
cleaning, maintenance and security of the PROPERTY;

		5.3.1.2	the cost of all
goods and materials
relating to the provision of supervision, operation,
cleaning,
maintenance and security of the PROPERTY;

		5.3.1.3	the cost of the maintaining,
repairing
and servicing, lifts,
travolators and hoists;

		5.3.1.4	the cost of maintaining,
repairing and servicing air-conditioning equipment [other than that for which the TENANT
is liable in terms of sub-clause 8.10
hereof], electrical installations,
pump installations, fire
extinguishing equipment,
security equipment and other mechanical equipment ;

		5.3.1.5	the charges payable by the LANDLORD
in terms of any service contract relating to cleaning services, pest
control services and security services.

 

		5.3.2	If at any time during the currency
of this lease, there is an increase
in any of the costs referred to
in sub clause 5.4.1 over and above
such costs payable as at the date of commencement of this lease or if any of the costs referred to in sub-clause 5.4.1 are not payable
as at the date of commencement of this lease but are subsequently incurred, and
such increase or new costs have been necessarily incurred and are reasonable,
the LANDLORD shall be entitled to recover from the TENANT,
in accordance with the provisions of sub-clauses 5.6
and 5.7 hereof,
the whole or a portion,
as the case may be, of
such increase or new cost,
with effect from the date upon which same becomes effective,
provided that the TENANT shall only be obliged to pay any such increases or new costs to
the extent that same have been reasonably
incurred.

 

		5.4	GROUND RENTAL

 

 

If
the PROPERTY is leasehold property and there is at any time during the currency of this lease an increase in the ground rental payable
by the LANDLORD to its lessor, the LANDLORD shall be entitled
to recover from the TENANT, in accordance with the provisions
of sub-clauses 5.6 and 5.7
hereof, the whole or a portion,
as the case may be, of such increase
with effect from the date upon which same becomes effective.

 

		5.5	AMOUNT OF RECOVERIES

 

 

The
particular amount which the LANDLORD is entitled to recover in
terms of sub-clauses 5.1 to 5.5 inclusive hereof shall be:-

 

		5.5.1	the amount in question if it relates
exclusively to the LEASED PREMISES or if it relates exclusively to amounts payable in
terms of this lease; or

		5.5.2	the TENANT'S PROPORTIONATE
SHARE of the amount in question if
the amount in question does not relate exclusively to the LEASED PREMISES or if it
does not relate exclusively to amounts payable in terms of this lease.

 

In
respect of any period of this lease which does not coincide with
the applicable period over which the particular recovery referred to in sub-clauses 5.1 to 5.5
inclusive hereof is levied, the TENANT shall pay a pro rata share
of such recovery.

 

    	 	5	 

    	 

    

		5.6	PAYMENT OF RECOVERIES

 

 

The
amount of any recovery due by the TENANT to the LANDLORD in terms
of sub-clauses 5.6
hereof shall, at the
election of the LANDLORD, be payable:-

 

		5.6.1	within such period as may be stipulated
for by the LANDLORD, which
period shall not, however,
be less than 7 [seven] days after the date of delivery to the TENANT of a written
notice advising the TENANT thereof; or

		5.6.2	by a one-twelfth share of the amount due by the TENANT being added to the
basic monthly

rental payable by
the TENANT.

 

 

All recoveries
payable by the TENANT shall be deemed to be additional rental payable in terms of this lease.

 

 

		5.7	DISPUTES RELATING TO RECOVERIES

 

 

If the
TENANT disputes, in respect of any of the recoveries referred
to in sub-clauses 5.1 to 5.5
inclusive hereof:-

		5.7.1	the date on which same becomes
effective; and/
or

		5.7.2	the amount of same;
and/ or

		5.7.3	the amount of the additional rental; and/ or

		5.7.4	the extent to which any particular
recovery referred to in sub-clause 5.3 and 5.4 hereof has been reasonably or necessarily incurred,
or the extent to which
the revaluation of the BUILDING
and

/
or any other improvements to the LAND referred to in sub-clause 5.3.4.1
hereof is reasonable, or the variation in the insurance cover
referred to in sub-clause 5.3.4.3 hereof is reasonable,
or the additional insurance cover referred to in sub-clause 5.3.4.4
hereof is reasonable;

 

such
dispute may only be raised by the TENANT by notice in writing delivered
to the LANDLORD within 14
[fourteen] days of the date of receipt by the TENANT
of a notice calling for payment of the particular recovery referred
to in sub-clause 5.7 hereof.
Any such dispute, which is not resolved between the parties, shall
be determined by arbitration in terms of the Arbitration Act then in force. Pending
the determination of the dispute, the TENANT shall nevertheless
make payment in accordance with the notice calling for payment in terms of sub-clause

5.7
hereof and payment of any adjustment between the parties shall be made within 7 [seven]
days of the date of publication of the arbitration award. The party liable to make payment shall,
in addition, be liable to
pay interest thereon at the rate of 2 %
[Two Per Centum] above the prime overdraft rate charged per annum by Investec Bank Limited,
Grayston Drive, Johannesburg,
reckoned from the date on which the overpayment was made or on which
the underpayment was due as the case may be, until the date of
payment, both dates inclusive.

 

		6.	UTILITY CHARGES

 

 

		6.1	The TENANT shall be liable for and shall pay for:-

 

 

		6.1.1	all electricity and power used on
the LEASED PREMISES, save
that if electricity and power is not separately metered in respect of
the LEASED PREMISES only, the
TENANT shall pay the TENANT'S PROPORTIONATE SHARE of all electricity and power metered in respect of the PROPERTY ;

    	 	6	 

    	 

    

		6.1.2	all water used on the LEASED PREMISES,
save that if water
is not separately metered in respect
of the LEASED PREMISES only,
the TENANT shall pay the
TENANT'S PROPORTIONATE SHARE of all water metered in respect
of the PROPERTY;

		6.1.3	all refuse removal
charges levied in respect
of the LEASED PREMISES,
save that if refuse removal, charges
are not separately levied
in respect of the LEASED PREMISES
only, the TENANT shall
pay the TENANT'S PROPORTIONATE
SHARE of all refuse removal
charges levied in respect
of the PROPERTY ;

		6.1.4	all charges or amounts levied by
or payable to the local municipal authority
or any other competent authority in respect
of drainage purification or treatment or removal of effluent or waste water from
the LEASED PREMISES only;

 

		7.	VALUE ADDED TAX

 

 

		7.1	The TENANT shall pay VAT on the
basic monthly rental and
on all recoveries
payable in terms
of this lease at the rate
prescribed from time to
time.

		7.2	If, at any time during the
currency of this lease,
the prescribed rate
of VAT varies above or below the percentage applicable as at the
date of commencement
of this lease, then the tax portions
of the basic monthly rental recorded
in item 5 of the SCHEDULE
shall be adjusted accordingly
with effect from the date on which such variation bec;omes effective.

 

		8.	TENANT'S RIGHTS AND OBLIGATIONS

 

 

		8.1	ACKNOWLEDGMENT

 

 

The TENANT
acknowledges that it is fully acquainted
with the locality and full
details of the LEASED PREMISES.

 

 

		8.2	USE

 

 

The
TENANT shall use the LEASED PREMISES only for the purposes specified
in Item 9 of the SCHEDULE.

 

		8.3	CONDUCT OF BUSINESS

 

 

The TENANT:

		8.3.1	shall keep
the LEASED PREMISES open for business,
with its full range of
merchandise, on all permissible
days and during normal trading
hours or such trading hours as
are specified by the LANDLORD from
time to time on those
days, save that the
TENANT shall be entitled to
temporarily close its business
on religious occasions
or such other
special occasions of short duration which are reasonably
necessitated by special
circumstances;

		8.3.2	shall ensure that no damage is caused
to any of the
floors in the LEASED PREMISES
by virtue of the operation of any machine
or the carrying on of
any manufacturing activity or the
transportation of any machine or equipment or
goods within the LEASED PREMISES
;

		8.3.3	shall not use the common areas
of the PROPERTY, such as
yards, parking
areas, loading
zones, passages, malls
and service
corridors for storage or
the display or sale of
goods or the supplying of services.

    	 	7	 

    	 

    

		8.4	CONDITION OF PREMISES

 

 

The
TENANT shall, within 7 [seven]
days of the date of commencement of the lease,
notify the LANDLORD in writing
of the details of any defects in the condition of the LEASED PREMISES and, failing
such notification, the TENANT shall be deemed to have received
the LEASED PREMISES in a thoroughly good state of tenantable repair
and condition.

 

		8.5	INTERIOR MAINTENANCE

 

 

The TENANT:-

 

 

		8.5.1	shall,
at its own cost and expense,
keep and maintain the entire interior of the
LEASED PREMISES, including
paintwork, in good order and
repair;

		8.5.2	shall,
at its own cost and expense,
repair and / or replace all fluorescent tubes,
ballast's and electric light globes,
electrical fittings, locks,
keys and other interior
fittings in the LEASED PREMISES that may be damaged, destroyed
or lost;

		8.5.3	shall do
any painting, which
may be necessary from time to time to
the interior of the LEASED
PREMISES;

		8.5.4	shall,
at the termination of this lease,
hand over and deliver the LEASED
PREMISES to the LANDLORD in the same good order and condition as they were in when the TENANT first took occupation of the LEASED PREMISES,
but without
releasing
the TENANT from any of its obligations to maintain the LEASED PREMISES in terms
of this lease.

 

		8.6	DOORS, GLASS,
WALLS, CEILINGS,
AND FLOORS

 

 

The TENANT:-

 

 

		8.6.1	shall keep and maintain in good order and condition and,
if damaged, shall
replace all internal and external doors, window
frames and sashes, window
panes, louvers,
window or glass displays,
glass, office
partitions and beading surrounds [whether interior
or exterior] in the LEASED PREMISES ;

		8.6.2	shall regularly clean the items referred to in sub-clall6e
8.6.1
hereof accordingly to the
LANDLORD'S instructions;

		8.6.3	shall not drive any object into the walls or ceilings
or floor of any part of the LEASED PREMISES, save
for the
purposes of sub-clause
8.7 hereof;

		8.6.4	shall not do anything,
which damages the walls or ceiling or floor
or any part of the LEASED PREMISES;

		8.6.5	

	
    ..

 

shall keep and maintain in good order and condition
and, if damaged,
shall replace any carpet provided in the LEASED PREMISES. The
LANDLORD shall not be obliged under any circumstances to replace
any carpets in the LEASED PREMISES.
Should the TENANT wish to install new or replace existing carpeting,
the written consent of the
LANDLORD shall first be obtained and on termination of this lease
the TENANT shall not be entitled to reimbursement in respect of
any carpets, which shall become the so_leand
absolute property of the LANDLORD

'

    	 	8	 

    	 

    

		8.7	FIXTURES AND FITTINGS

 

 

The TENANT:-

 

 

		8.7.1	shall be entitled,
at any time, to
install such fixtures or fittings in the
LEASED PREMISES for the purpose of its business as are approved by the LANDLORD;

		8.7.2	shall be entitled, at
any time during the currency of this lease, to
remove those fixtures or fittings;

		8.7.3	shall be obliged to remove those fixtures or fittings
at the termination of this lease before handing over the LEASED PREMISES, if
called upon by the LANDLORD
to do so, and in default of
the TENANT complying with this obligation, the
LANDLORD shall be entitled itself to remove such fixtures and fittings at the cost and expense of the TENANT and any such costs and expenses
shall be recoverable from the TENANT as additional rental ;

		8.7.4	shall repair,
at its sole cost and expense, to
the satisfaction of the LANDLORD
and/ or its agents, any damage
caused by such installation or removal before handing over the LEASED PREMISES;

		8.7.5	agrees that if the TENANT fails to remove those fixtures
and fittings at the termination of this lease and the LANDLORD has not exercised its
right in terms of sub-clause
8.7.3
hereof, then such fixtures
and fittings shall be deemed to form part of the LEASED
PREMISES and the TENANT shall have no claim against the LANDLORD for compensation
in respect thereof.

 

 

		8.8	ELECTRICAL INSTALLATIONS

 

 

The TENANT:-

 

 

		8.8.1	shall not alter,
interfere with or overload the electrical or other lighting or heating installations
in the LEASED PREMISES ;

		8.8.2	shall be liable to repair any short circuits or
blow fuses or other damage caused by such alterations, interference or overloading

 

		8.9	PLUMBING, SANITARY EQUIPMENT AND SEWER BLOCKAGES

 

 

The TENANT:-

 

 

		8.9.1	shall comply with all sanitary
and I or other by-laws
affecting the LEASED PREMISES and shall keep and maintain all plumbing, sanitary
and sewerage equipment,
connections, pipes
and drains of the LEASED PREMISES and any other portions of the BUILDINGS
in respect of which the TENANT enjoys common facilities in good working order and condition,
and shall, at
all times, purge,
cleanse, scour,
keep and maintain in good sanitary condition all such drains and other sanitary
arrangements, including washbasins,
sanitary fittings and urinals
;

		8.9.2	shall not cause or permit to be
caused any obstruction or blockage of sewerage pipes, water
pipes or drains in the BUILDINGS and shall remove and repair, at
its own cost and expense, any
obstruction or any blockage or any sewerage or water pipes or drains so caused ;

    	 	9	 

    	 

    

		8.9.3	shall,
if the LEASED PREMISES are provided
with food preparation
facilities such as cooker hoods,
fat filters, extraction
ducting and grease traps, regularly clean same
according to the LANDLORD'S instructions.

 

		8.10	AIRCONDITIONING

 

 

		8.10.1	The TENANT shall be solely
responsible for keeping, maintaining
and repairing, at
its sole cost and expense, all individual air-conditioning units installed
in the LEASED PREMISES
in working order during the currency of this lease,
and the TENANT shall not
have any claim against the LANDLORD
arising out of any defect in or
interruption in the operation
of such units in the LEASED PREMISES.

		8.10.2	The TENANT shall not be
entitled, without
the prior written consent of the
LANDLORD, which consent shall
not be unreasonably
withheld, to
install in or on any
part of the LEASED PREMISES any air-conditioning units in addition to
or in substitution of the units installed as at the date
of commencement of this lease.

 

		8.11	AWNINGS

 

 

The
TENANT shall not affix any window
blinds, shades or awnings
to any part of the LEASED PREMISES
or the BUILDINGS without the prior written consent of the LANDLORD.

 

		8.12	ALTERATIONS

 

 

The TENANT:-

 

		8.12.1	shall not make any alterations or additions of any nature
whatsoever to the LEASED PREMISES
or the BUILDINGS or to
the electrical installations in
the LEASED PREMISES or the BUILDINGS without the
prior written consent of the LANDLORD,
which consent shall not be unreasonably
withheld;

		8.12.2	shall observe all terms
and conditions, which
the LANDLORD may prescribe
in giving consent under sub-clause
8.12.1
hereof;

		8.12.3	agrees that
if the LANDLORD
gives consent under sub-clause
8.12.1
hereof, the
LANDLORD shall be entitled, upon
the termination of this lease,
either to call upon the TENANT
to hand over the LEASED PREMISES
as altered without
compensation or payment by the LANDLORD,
or to have
the LEASED PREMISES restored to their original
condition at the expense of the TENANT;

 

 

		8.12.4	agrees that the
LANDLORD shall be entitled to require
that such alterations or additions
be effected and,
if applicable,
be removed subject to the
reasonable approval of an Architect
or Consultant appointed by the LANDLORD
and that the fees
of such Architect or Consultant together
with all costs and expenses
in respect of such alteration
or additions and, if
applicable, the
removal thereof, be
borne by the TENANT;

		8.12.5	agrees that
any removal and reinstatement
required by the LANDLORD shall be effected prior to
the termination of this lease.

    	 	10	 

    	 

    

		8.13	ADVERTISING

 

 

The TENANT:-

 

 

		8.13.1	shall not affix or
paint any advertising or hanging
sign on the exterior of
the BUILDINGS or on the windows
or doors of the LEASED PREMISES
without the LANDLORD'S prior
written consent, which consent
shall not be unreasonably withheld;

		8.13.2	shall maintain the good appearance
of any of its advertising
or other signs and shall keep them
in proper working order;

		8.13.3	shall comply with all the
requirements of any competent
authority in respect of any
of its advertising or other
signs;

		8.13.4	shall, upon the termination
of this lease, remove
all its signs
and shall make good any damage
caused to the PROPERTY or
the BUILDINGS or
the LEASED PREMISES
by such removal upon
the termination of this lease ;

		8.13.5	shall,
if the LEASED PREMISES are used for
the retailing of any goods,
decorate any display window space in the
LEASED PREMISES in
a professional manner in keeping with the type of
business for which the
LEASED PREMISES are let and
shall not permit any decoration or
display which, in the
opinion of the LANDLORD,
may detract from the appearance
or image of the BUILDINGS.

 

		8.14	INSURANCE

 

 

The TENANT:-

 

 

		8.14.1	Shall take out and keep in force during the currency
of these lease insurance policies
to cover:-

		8.14.1.1	all glass
situate in or
forming part of the LEASED PREMISES
against damage

;
and if the TENANT should fail
to take out and keep in force
such insurance, the LANDLORD shall
have the right to do so and
to recover the cost thereof, from
the TENANT without releasing the TENANT
from the obligation imposed upon
it hereunder ;

		8.14.1.2	public liability for such amount
as will provide indemnity in
respect of all claims which may foresee
ably be made against the
LANDLORD arising out of the
TENANT'S business and/ or tenancy
of the LEASED PREMISES;

 

8.1.4.1.3the
contents of the LEASED PREMISES
against damage, destruction
and theft; provided that if any dispute
arises between the parties with regard to the operation of this subclause,
such dispute shall be referred
to an insurance expert nominated by the LANDLORD who shall
determine such dispute as an expert and not as an arbitrator and whose decisions
shall be final and binding on the parties ;

		8.14.2	Shall not keep or permit to
be done or kept in or
on the LEASED PREMISES anything which may render void or void able any fire or other
insurance policy of
the BUILDINGS or which may give rise
to any increase in the premiums
without the prior written
consent of the LANDLORD; and
the whole of any additional premiums payable by reason of
anything done or kept or

    	 	11	 

    	 

    

permitted
to be done or kept in or on the LEASED PREMISES shall be paid
by the TENANT on demand.

 

		8.15	LAWS AND BY-LAWS

 

 

The
TENANT shall not contravene or permit the contravention of any
laws, by-laws,
regulations or requirements of any competent authority,
relevant to the conduct of
the TENANT'S business in and occupation of the LEASED PREMISES.

 

		8.16	NO CLAIMS

 

 

The TENANT
shall not have any claim against the LANDLORD for any loss or
damage, which the

 

 

TENANT may
suffer:-

 

 

		8.16.1	by reason of the LEASED PREMISES or any part thereof
being in a defective condition
or state of disrepair or any
particular repair or maintenance not being effected by the LANDLORD ; or

		8.16.2	arising out of vis major or cases fortuitous or any
other cause, either wholly
or partly outside the LANDLORD'S control ; or

		8.16.3	arising out of the negligence of the LANDLORD or the LANDLORD'S agents or servants; or

		8.16.4	arising out of any act or omission by any other tenant
in the BUILDINGS; or

		8.16.5	as a result of the LEASED PREMISES or the BUILDINGS being damaged or destroyed; or

		8.16.6	as a result of housebreaking,
forcible entry and I
or burglary of the LEASED
PREMISES; or

		8.16.7	as a result of theft.

 

		8.17	INDEMNITY

 

 

The
TENANT indemnifies the LANDLORD against any claim of whatsoever nature made against the LANDLORD by anyone for any loss or damage;

		8.17.1	suffered in or on the LEASED PREMISES;
or

		8.17.2	suffered in the BUILDINGS in
consequence of any .act
or omission of the TENANT, or
the TENANT'S servants or agents;
or

		8.17.3	arising from any defect in
the LEASED PREMISES or the BUILDING or from any other cause whatsoever.

 

		8.18	NO WITHHOLDING PAYMENTS

 

 

The
TENANT shall not be entitled to withhold or delay payment of any amounts due to the
LANDLORD in terms of this lease and the TENANT hereby abandons all or any rights of set off.

 

		8.19	NUISANCE

 

 

The
TENANT shall not carry on and conduct its business in such a manner
as to constitute or become a nuisance to the LANDLORD or any other
tenant in the BUILDINGS or to the owners or occupiers of neighbouring
properties.

    	 	12	 

    	 

    

Any excessive noise
or odour pollution caused or permitted to be caused in the LEASED PREMISES or on the PROPERTY by the TENANT shall be deemed to be a nuisance
within the meaning of this sub-clause.

 

		8.20	COSTS AND INTEREST

 

 

The TENANT:-

 

 

		8.20.1	shall pay to the LANDLORD interest on any overdue amount
at the rate of 2 % [Two Per
Centum], above the prime overdraft
rate from time to time per annum charged by Investec Bank Limited, Grayston
Drive, Johannesburg reckoned
from the due date of payment of such amount to the actual date of payment thereof ;

		8.20.2	shall be liable for all reasonable administration charges
levied by the LETTING AND ADMINISTRATION AGENTS with regard to the recovery of arrear rents or any other amounts due in terms of this
lease;

		8.20.3	shall be liable for all legal costs incurred by the LANDLORD
as between Attorney and own Client, including
collection charges, if any,
with regard to instructions
given to an Attorney for the recovery of arrear rents or any other amounts due in terms of this lease,
or arising out of same, or
arising out of a cancellation or termination of same, irrespective
of whether legal action is actually instituted against the TENANT or not.

 

		8.21	CESSION AND SUBLETTING

 

 

		8.21.1	The TENANT:-

 

 

		8.21.1.1	shall not cede or in any way alienate
or encumber any of the tenant's rights hereunder; nor

		8.21.1.2	shall not sublet the LEASED PREMISES
or any part thereof nor permit a third party to occupy the LEASED PREMISES or any part thereof without the prior written consent of the
LANDLORD.

		8.21.2	In furnishing its consent to sub-let,
the LANDLORD shall be entitled to stipulate,
without prejudice to its right to stipulate any other reasonable conditions,
that any profit rental earned by the TENANT in sub-letting shall be paid to the LANDLORD
as additional rental. Such profit rental shall be the excess at the rental rate per square meter payable by the sub-tenant
to the TENANT over and above the
rental rate per square meter payable by the TENANT to the LANDLORD at a particular time.

		8.21.3	If the LANDLORD furnishes its consent
to sub-let, then,
without prejudice to any other reasonable conditions which the LANDLORD may stipulate,
the TENANT shall be deemed to have ceded in favour of the LANDLORD all
its rights against the sub-tenant,
including its right to receive payment of the rental and of
other amounts payable in terms of the sub-lease,
as security for the TENANT'S obligations
to the LANDLORD under this agreement of lease.

		8.21.4	If the TENANT is a company the
shares of which are not listed on a recognised stock exchange, or
if the TENANT is a close corporation, any
change in the control of the TENANT shall be deemed to be a cession by the TENANT of its rights under this agreement,
irrespective of whether such change
of control is effected through the

    	 	13	 

    	 

    

change
of ownership or transfer of any shares or members' interests,
as the case may be, or through the
issue of any unissued shares in the company or any variation in the rights attaching to the shares in the company or any other means whatsoever.
The provision of this sub-clause shall not, however,
preclude a company from being converted into a close corporation or a close corporation being converted
into a company, provided that there is not change in the identity
of the shareholders and members.

		8.21.5	A breach of any of the provisions
of this sub-clause 8.21 shall
constitute a material breach of this lease.

 

		8.22	LICENCES

 

 

The TENANT:-

 

 

		8.22.1	shall be solely responsible,
at its own cost and expense, for obtaining the necessary certificates and licences from the
local municipal authority and I or any other relevant authorities enabling the TENANT to carry on the business referred to in Item
9 of the SCHEDULE in the LEASED PREMISES.

		8.22.2	shall apply for and at all proper
times use its best endeavours to obtain, at
its own cost and expense, renewal
of the certificates and licences referred to in sub-clause 8.22.1
hereof and pay for the same ;

		8.22.3	acknowledges that the LANDLORD gives
no warranties or assurances whatsoever that such licence or licences, which
may be required by the local municipal authority and I or any other relevant authorities,
will be granted or renewed ;

		8.22.4	shall advise the LANDLORD of any
obligation or condition imposed by a competent authority concerning the LEASED PREMISES or the licences held in respect thereof.

 

		8.23	REFUSE

 

The
TENANT shall provide its own refuse containers to conform with the local municipal authority requirements and shall keep same in the area
or areas of the PROPERTY set
aside for such purpose by the LANDLORD. Such
refuse containers shall be maintained in
good order by the TENANT. The
TENANT shall be responsible for the removal of all
waste accumulating in the LEASED PREMISES in excess of that put into the refuse container and shall pay any charges in
connection therewith.

 

		9.	LANDLORD'S RIGHTS AND OBLIGATIONS

 

 

		9.1	EXTERIOR MAINTENANCE

 

The
LANDLORD shall keep and maintain the exterior, roof,
gutters and down pipes of the BUILDINGS
and any lifts, travolators
and hoists in the BUILDINGS as well as all common areas on the PROPERTY
in good order and condition.

    	 	14	 

    	 

    

		9.2	ACCESS

 

 

The LANDLORD or its agents or servants
shall be entitled to:-

 

 

		9.2.1	effect any repairs,
alterations, improvements
and/ or additions to the BUILDINGS, or
any part thereof, and for
such purpose to erect scaffolding, hoarding
and/ or any other building equipment required for the carrying out of such work and shall be entitled to access to any portion of the
LEASED PREMISES as may be reasonably necessary for such purpose;

		9.2.2	have reasonable access to the LEASED
PREMISES for the purpose of inspecting or repairing the LEASED PREMISES or the BUILDINGS;

		9.2.3	call upon the TENANT to attend to any maintenance or to
repair any damage to the LEASED PREMISES for which the TENANT is responsible under this lease and,
in default of the TENANT effecting such maintenance or repair within 14 [fourteen] days
after receipt of such notice, may
itself effect such maintenance or repair at the cost and expense of the TENANT and any costs and expenses incurred by the LANDLORD shall
be recoverable from the TENANT as additional rental;

		9.2.4	display on the LEASED PREMISES a "To Let" and
I or "Let By"
notice during the final 3 [three] months of this lease ;

		9.2.5	display on the LEASED PREMISES a "For
Sale" and I or
"Sold"
notice at any time during the period of this lease;

		9.2.6	show any prospective tenants the interior of the LEASED
PREMISES during the reasonable hours on business days;

		9.2.7	display on the LEASED PREMISES,
during the final 3 [three] months of this lease,
any notice which may be required by the LANDLORD or any of the landlord's tenants or prospective
tenants in connection with any application for a licence for any business to be carried on in the LEASED PREMISES.

 

		9.3	NO WARRANTY

 

 

		9.3.1	The LANDLORD does not warrant or
represent that the LEASED PREMISES are fit for the purpose for which they are let,
or that the TENANT will be granted licences in respect thereof for the conduct of its business
or that any licences will be renewed.

		9.3.2	The LANDLORD shall not be under any obligation at any
time during the currency of this lease to make any improvements, additions or alterations,
or to carry out any work in respect of the LEASED PREMISES in order to render or to keep
them fit for the purposes of the tenant's business, and
all the requirements in connection therewith shall be carried out, subject
to the LANDLORD'S approval, at
the cost and expense of the TENANT.

		9.3.3	If the local Municipal Authority,
the Factories and/ or Labour Inspector or Officials and/ or any other legally constituted
authority requires at any time during the currency of this lease that any work be carried out in respect of any alterations,
additions or improvements to the LEASED PREMISES or requires that any additional
equipment be installed in the LEASED PREMISES for the purpose of the TENANT'S
trade or business, the TENANT shall advise the LANDLORD of such requirements but shall
be obliged to itself give effect to those requirements.

		9.3.4	All costs or charges necessitated by any such work
shall be borne and paid for by the TENANT and the LANDLORD shall not be called upon to pay any such costs and charges or to comply

    	 	15	 

    	 

    

with
any other requirements of any legally constituted
authority in regard
to the TENANT'S trade
or business

		9.3.5	The LANDLORD shall be
entitled to require that any of the
aforesaid work be affected,
subject to the reasonable approval of an Architect or
Consultant nominated by it and that the fees of such Architect of Consultant
be borne and paid for by
the TENANT.

 

		9.4	REPAIRS AND RENOVATIONS ON TERMINATION

 

 

If,
on termination of this lease,
repairs or renovations are necessary
to the LEASED PREMISES by
virtue of a failure of the TENANT to carry out the obligations
imposed upon the TENANT in terms
of this lease, the LANDLORD shall
be entitled to carry out such repairs
or renovations as are necessary and to recover the costs from the
TENANT. The TENANT shall also be responsible for
damages for loss of rental
during the period the repairs and
renovations are being carried out at not less than the basic
monthly rental payable immediately prior to termination
of this lease and reckoned
until the end of the month
in which the work is completed.

 

		10.	USE OF COMMON FACILITIES

 

 

The
TENANT shall, in concluding
its business upon the LEASED
PREMISES in terms hereof,
give due consideration to the use
and enjoyment of the BUILDINGS by
other tenants, customers and
employees.

 

		11.	DAMAGE OR DESTRUCTION

 

		11.1	TOTAL DESTRUCTION

 

 

		11.1.1	If,
at any time during the currency
of this lease, the
LEASED PREMISES are destroyed
or damaged by any cause whatsoever
to an extent which prevents
the TENANTS from having beneficial
occupation of the LEASED
PREMISES, then :-

		11.1.1.1	the TENANT shall
have no claim of any nature
whatsoever against the

LANDLORD as
a result thereof;

		11.1.1.2	the LANDLORD
shall be entitled to
determine within 2 [Two] calendar
months after such destruction or damage,
whether or not this
lease shall be cancelled
and shall notify
the TENANT in writing of
its decision;

		11.1.1.3	if the LANDLORD fails to notify
the TENANT of that
decision then the LANDLORD
shall be deemed to
have elected to cancel this
lease.

		11.1.2	If the LANDLORD
elects or is
deemed to
have elected to cancel this lease,
then the
TENANT shall
have no claim of any nature
whatsoever against the LANDLORD as
a result
of such cancellation of this lease.

		11.1.3	If the
LANDLORD elects not to cancel
this lease, then:-

 

		11.1.3.1	the LANDLORD shall
procure the re-instatement
of the LEASED PREMISES with reasonable despatch;

		11.1.3.2	the TENANT shall
not be liable for any
rent for so long as the TENANT is
deprived of beneficial occupation
of the LEASED PREMISES;

    	 	16	 

    	 

    

		11.1.3.3	if the TENANT is given beneficial
occupation from time to time of any part of the LEASED PREMISES, then
the TENANT shall make payment of the rental therefore on a pro rata basis.

 

		11.2	PARTIAL DESTRUCTION

 

 

If,
at any time during the currency of this lease, any part [but not
the whole] of the LEASED PREMISES
is destroyed or damaged by any cause whatsoever, then:-

 

		11.2.1	this lease shall not be cancelled;

		11.2.2	the rental payable by the
TENANT shall be reduced pro
rata and to the extent to which the
TENANT is deprived of the beneficial occupation of the part of the LEASED PREMISES;

		11.2.3	the LANDLORD shall procure the reinstatement
of the LEASED PREMISES with reasonable despatch;

		11.2.4	the TENANT shall have no claim of any nature whatsoever
against the LANDLORD as a
result of the said destruction or damage from whatsoever
cause the same arises.

 

		11.3	DISPUTES

 

 

If any dispute arises between the
parties:-

 

 

		11.3.1	as to whether the LEASED PREMISES
are at any time wholly untenantable
or not and/ or to the period that the LEASED PREMISES are wholly
untenantable, then
such dispute shall be referred to an Architect nominated by the parties jointly,
or if they cannot reach agreement
of the identity of the Architects,
the nomination shall be made by
the President of the Natal
Provincial Institute of Architects.
The nominated Architect shall act
as an expert and not
as an arbitrator and his decision in regard to such dispute
shall be final and binding
on the parties.

		11.3.2	Any expenses which may
be incurred in referring such
dispute to the
Architect shall be borne and paid for by the parties
in equal shares;

		11.3.3	in regard to the reduced amount of rental payable at any
time or from time to time
by the TENANT in terms of sub-clauses
11.2.2
hereof, then such dispute
shall be referred to an Accountant
nominated by the parties jointly,
or if thE?Y cannot
reach agreement of the identity
of the Accountant,
the nomination shall be made
by the President of Natal
Society of Chartered Accountants.
The nominated Accountant shall act
as expert and not as an arbitrator
and his decision in
regard to such disputes shall be final
and binding on the parties.
Any expense, which may be incurred in referring
such dispute to the Accountant, shall
be borne and paid for by the parties
in equal shares.

 

 

		12.	OTHER DAMAGE OR DESTRUCTION

 

 

		12.1	If any
other premises in the BUILDINGS
are damaged or destroyed,
either partially or wholly,
and the LEASED PREMISES are affected by
such damage or destruction
or access thereto is reasonably
required for the purpose of
effecting the necessary repairs to
and / or restoration of such other premises, then
the LANDLORD shall have the right
[but shall not be obliged] to deal

    	 	17	 

    	 

    

with
the LEASED PREMISES as if they had been totally or partially destroyed and the provisions of clause 11 hereto shall,
mutatis mutandis, be applicable.

		12.2	The TENANT shall,
notwithstanding the provisions of sub-clause
9.1 hereof,
be obliged to forthwith make good,
at its own cost and expense, all
damage to the BUILDINGS, whether
exterior or interior, including
windows, window panes,
glass, doors,
ceilings and roofs caused as a result of housebreaking or forcible entry to the LEASED PREMISES
or theft from the LEASED PREMISES and all damages to the LEASED PREMISES as a result
of riot.

 

		13.	BREACH

lf:-

		13.1	the TENANT fails to pay the rental
or any other amount due by the TENANT in terms of this lease on due date; or

		13.2	the TENANT commits or suffers or permits
the commission of a breach of sub clause 8.3.1
or sub clause 8.21 hereof;
or

		13.3	the TENANT commits or suffers or
permits the commission of a breach of any of the other terms of this lease,
whether or not such breach goes to the root of this contract,
and fail to remedy such breach:-

		13.3.1	within
7 [seven] days after written notice has been received by the TENANT

from
the LANDLORD requiring the TENANT to remedy such breach where it
is one, which is capable of being remedied within such period
;

		13.3.2	within a reasonable time after written
notice has been received by the TENANT from the LANDLORD requiring the TENANT to remedy such breach where it is not one which is capable
of being remedied within 7 [seven] days ; or

		13.4	The TENANT is placed under provisional
or final sequestration, liquidation
or judicial management, as the
case may be; the Landlord shall
be entitled, but not obliged,
notwithstanding any previous waiver or anything to the contrary herein contained,
to cancel this lease forthwith
and to retake possession of the LEASED PREMISES, without prejudice
to its claim for any arrear rentals or other sums payable hereunder or
for any damages which it may suffer by reason of such breach and I or cancellation,
or to any other remedy which it may have against the TENANT arising out of this lease or
in law the Landlord shall be entitled, but
not obliged, notwithstanding
any previous waiver or anything to the contrary herein contained, to cancel this lease forthwith and to retake possession of the LEASED
PREMISES, without prejudice to
its claim for any arrear rentals or other sums payable hereunder or for any damages which it may suffer by reason of such breach and I
or cancellation, or to any other
remedy which it may have against the TENANT arising out of this lease or in the law;

 

		14.	HOLDING OVER

 

		14.1	If the LANDLORD cancels this lease and
the TENANT
disputes the LANDLORD'S right to do so and remains in occupation of the LEASED PREMISES,
then :-

		14.1.1	the TENANT shall continue to pay all amounts due by the
TENANT in terms of this lease
on the due dates of the same;

		14.1.2	the LANDLORD shall be entitled to recover and accept those payments;

    	 	18	 

    	 

    

		14.1.3	the acceptance
by the LANDLORD
of those payments
shall be without prejudice to and shall not in any manner
whatsoever affect
the LANDLORD'S
claim to cancellation then in
dispute.

		14.2	If the dispute is determined in
favour of the LANDLORD, then
the payments made and received in terms of sub-clause 14.1 hereof shall be deemed
to be amounts paid by the
TENANT on account of damages suffered by
the LANDLORD by reason of the cancellation
of this lease and

/ or
the unlawful holding over by the TENANT.

 

 

		15.	PREMATURE TERMINATION

 

 

Upon premature
termination of this lease for any reason [including,
without departing from the generality of the

a
foregoing, termination by a trustee or liquidator
of the TENANT following insolvency or liquidation], then, until the TENANT or its
legal representative proves
to the contrary, the
TENANT shall be deemed to
be indebted to the LANDLORD, interalia,
for damages, for loss
of rental in a sum
equal to the aggregate of the basic and additional rental,
including operating and promotion costs and
rates, which would
be payable under this lease but for its
termination.

 

		16.	NO RELAXATION

 

 

No
relaxation which either party may give at any time whatsoever in regard
to the carrying out of any of the other's obligations in terms of this
lease shall prejudice or be a waiver of any of that
party's rights in terms
of this lease.

 

		17.	NO VARIATIONS

 

 

		17.1	This lease contains all the
terms and conditions of the agreement between
the LANDLORD and the TENANT.

		17.2	No variation
of this lease shall
be binding unless it is
in writing and
is signed
by both the LANDLORD
and the TENANT.

 

		18.	SURETYSHIP

 

 

		18.1	The GUARANTORS bind
themselves to and in favour of
the LANDLORD as sureties for and
co principal debtors
in solidum, jointly and severally
with the TENANT, for
the due and punctual payment of all amounts payable and for
the due and punctual
performance by the TENANT
of all the obligations incumbent
upon it under and in terms
of this agreement of lease or arising out
of same, or
arising out of a cancellation
or termination thereof,
including, without
departing from the generality
of the aforegoing, a
termination of the lease by
a liquidator or trustee of the
TENANT. This
suretyship shall also cover any amendments,
variations, renewals
or extensions of the agreement
of lease although the GUARANTORS
may not have specifically
agreed thereto.

		18.2	The GUARANTORS hereby renounce
the benefits of "excursion",
"division", "cession of
action" and "no value
received",
with the full force
and effect whereof they
acknowledge themselves to
be fully acquainted.
Any indulgence, neglect
or forbearance on
the part of the LANDLORD shall in no way release the
GUARANTORS from liability under this
suretyship.

		18.3	Each of the GUARANTORS agree that
a certificate signed by the LANDLORD
or its authorised representative
shall be prima facie proof,
at all times,
of the amount owing
to the LANDLORD by

    	 	19	 

    	 

    

the
TENANT for the purpose of any action taken by the LANDLORD in
terms of this document, whether such action is for provisional
sentence or otherwise.

		18.4	This suretyship shall remain in full
force and effect until the expiry of 30 [Thirty] Days' written notice
is given to the LANDLORD at a time when all indebtedness, commitments
and obligations of the TENANT
to the LANDLORD shall fully have been discharged, provided
that no such notice may be given until after the termination of this lease.

		18.5	Each GUARANTOR who signs this agreement
acknowledges and records that, notwithstanding
the fact that it provides for signature by other GUARANTORS, there
is a separate, distinct and independent
contract of suretyship brought into existence by each GUARANTOR who does sign it. If for any reason any GUARANTOR shall fail to sign this
agreement or if this suretyship shall for any reason cease to be or is not binding on any one of the GUARANTORS,
then the obligation
of the other GUARANTORS shall be and continue to be binding and shall
remain of full force and effect.

 

		19.	NOTICES AND DOMICILIA

		19.1	The parties respectively nominate
as their domicilium citandi et executandi the following addresses:-

		19.1.1	LANDLORD - Northlands Deco Park 10 New Market Road

Stand 299

Avant Garde
Street Northriding

2169

 

 

		19.1.2	TENANT the LEASED PREMISES -

Northlands Business Park New Market
Road

171
Bush Telegraph Northriding

2169

 

		19.1.3	GUARANTORS the LEASED PREMISES;

		19.2	All notices shall be delivered by
hand during normal business hours,
in which event they shall be deemed to have been received on the date of delivery,
or by prepaid registered post,
in which event they shall be deemed,
unless the addressee proves to the contrary,
to have been received on the third day after posting.

 

		20.	CONSENT TO MAGISTRATE'S COURT JURISDICTION

 

		20.1	The TENANT consents,
in terms of Section 45 of the Magistrate's Court Act No.
32 of 1944, as
amended, to the jurisdiction of
the Magistrate's Court having
jurisdiction in respect of the
TENANT by virtue of Section 28 of the aforesaid Act.

    	 	20	 

    	 

    

		20.2	The GUARANTORS consent, in terms
of Section 45 of the Magistrate's Court Act No. 32
of 1944, as amended,
to the jurisdiction
of the Magistrate's
Court having jurisdiction in respect of the GUARANTORS by virtue of Section 28 [1] of the aforesaid Act.

		20.3	The consents in sub-clauses 20.1
and 20.2
shall not preclude the LANDLORD, at
its election, from
instituting proceedings in any other Court
of competent jurisdiction.

 

		21.	DEPOSIT OR GUARANTEE

 

 

		21.1	The TENANT shall,
on the date of signature of this agreement,
pay to
the LANDLORD in cash a deposit in the amount recorded in Item 6, of
the SCHEDULE or, alternatively,
shall furnish to the LANDLORD,
on the date of signature of this agreement,
a bank guarantee or other
guarantee acceptable to the
LANDLORD securing the obligations
of the TENANT in terms of this
lease in respect of a money
payment limited to the amount recorded in Item
6 of the SCHEDULE.

		21.2	The
                                            LANDLORD shall have the right to apply
                                            the whole or any portion of the deposit, or the whole or any portion of the amount covered
                                            by the guarantee, towards
                                            payment of any
                                            liability of whatsoever nature for which
                                            the TENANT is responsible. If the
                                            whole or any portion of the deposit,
                                            or the whole or any portion of the amount
                                            covered by the guarantee,
                                            is so applied,
                                            the LANDLORD shall notify the TENANT
                                            in writing to that effect and the TENANT shall
                                            immediately reinstate the deposit to
                                            its original
                                            amount or replace the guarantee
                                            in the original amount.

		21.3	f
                                            the TENANT pays a deposit rather than furnishes a guarantee,
                                            the deposit shall be retained by the
                                            LANDLORD or by the LETTING AND ADMINISTRATION AGENTS until the expiry of this lease or any
                                            renewal thereof, the
                                            vacating of the LEASED PREMISES and the complete discharge of all
                                            the TENANT'S obligations to the LANDLORD
                                            arising from this
                                            lease, or
                                            a cancellation or termination thereof.
                                            If any interest is earned on the deposit
                                            it shall
                                            accrue to
                                            the TENANT but shall be retained as additional security pursuant to the provisions of
                                            this clause.
                                            The provisions of this sub-clause shall
                                            not be construed so as to deprive the LANDLORD from exercising
                                            its rights
                                            in terms of sub-clause 22.2
                                            hereof.

		21.4	The TENANT shall not be entitled
to set off against the deposit or the amount covered by the guarantee any rental or other amount payable by it.

 

 

		22.	TRUSTEES FOR A COMPANY OR CLOSE CORPORATION TO BE FORMED

 

 

If the representative of the
TENANT enters into this agreement of lease as trustee for a company
or close corporation to be formed, such representative,
in his individual capacity:-

 

		22.1	undertakes to effect the formation and registration of a company or close corporation
forthwith;

		22.2	undertakes to procure that
the Memorandum of Association of the company contains as one of its objects the
adoption and ratification of this agreement;

		22.3	undertake to procure the
adoption and ratification of this
agreement by the company or close corporation as soon as possible after its registration;

		22.4	undertake to pay the deposit or furnish the
guarantee referred to in clause
22 hereof;

		22.5	guarantees,
as surety and co-principal debtor in solidum,
the due and faithful performance
by the company or close corporation of all the obligations
of such company or close corporation as

    	 	21	 

    	 

    

TENANT
in terms of this lease ; and
the provisions of clause 18 hereof shall apply mutatis mutandis to such surety ship ;

		22.6	agrees that if registration of
the company or close corporation is
not effected within a period
of 30 days after the date of signature of this lease by the last signing party,
or if the company or close corporation,
when registered, fails
in any way to implement the terms of this clause, the
LANDLORD shall have the right, by
written notice addressed to the representative of the TENANT, to
declare such representative personally to be the TENANT under this lease.

 

		23.	MISCELLANEOUS

 

 

		23.1	This lease has been drafted with reference
to the TENANT in the singular neuter. In
the event of the TENANT being a natural person or consisting of more than one person,
the provisions of this lease shall be construed accordingly.

		23.2	The headings in this lease are for convenience only
and are not to be taken into account in interpreting the provisions of this lease.

		23.3	This agreement is entered into:-

		23.3.1	by the LANDLORD for itself and its successors-in-title and assigns;

		23.3.2	by the TENANT for itself and its successors-in-title
and permitted assigns.

		23.4	Where the consent,
authority or permission of the LANDLORD in
terms of this lease may not be unreasonably withheld, the
onus shall lie on the TENANT should a dispute arise between the parties with regard thereto.

		23.5	If any of the provisions of this
agreement are held to be void, invalid
or unenforceable for any reason, such
provision shall be deemed to be severable and excluded from this agreement, provided
that all the remaining terms of this agreement shall nonetheless continue to be of full force and effect.

		23.6	This lease shall only take effect
and become binding upon the LANDLORD when signed by the LANDLORD, failing which the TENANT may not claim the existence of a lease from
negotiations having been conducted or concluded in regard thereto or by reason of this lease having been drafted or signed by the TENANT.
The signature by the TENANT
to this document shall amounts to an offer by the TENANT to enter into this agreement upon
the terms and conditions set
out herein which shall remain open for acceptance and shall be irrevocable
for a period of 30 [thirty] days from the date of signature by the TENANT or until finally declined by the LANDLORD or its agents in writing
within that period or an amended contract in
writing is entered into before
the expiry of that period. This
offer shall not be affected in any way by subsequent negotiations which may be entered into by and between the LANDLORD and /
or its
agents with the TENANT, whether
such negations amount to a counteroffer or not.

 

    	 	22DISA

MEDINOTEC

 

	DISA Medinotec (Pty) Ltd		T: +27 (0)87 330
2301
	Stand 171, Northlands Business Park Bush Telegraph Street		F: +27(0)86 441 5089
	Northriding, Gauteng 2169 South Africa		www.disamedinotec.com
	 	 	 

 

 

 

 

 

 

 

EXCLUSIVE DISTRIBUTION
AGREEMENT

 

BETWEEN

 

DISA MEDINOTEC (PTY) Ltd.

Northland
Business Park 171 Bush Telegraph Street

Northriding, Johannesburg
2169 South Africa

 

AND

 

 

DISA LIFE SCIENCES (Pty) Ltd

Northland
Deco Park 299 Avant Garde Avenue

Northriding, Johannesburg
2169 South Africa

 

	BRINGING QUALITY TO LIFE

 

DISA Medinotec
(Pty) Ltd

Directors:
Dr. Gregory Vizirgianakis & Pieter van Niekerk

Reg No:
2015/115015/07 VAT Reg. No: 4820269530 

    	 	1	 

    	 

    

 

EXCLUSIVE
DISTRIBUTION AGREEMENT

 

 

Summary

	ARTICLE 1 - DEFINITIONS	 	 	4	 
	ARTICLE 2 - APPOINTMENT	 	 	4	 
	ARTICLE 3 - MINIMUM TARGETS	 	 	5	 
	ARTICLE 4 - COOPERATION AND TRANSPARENCY; PARTIES' OBLIGATIONS 6	 	 	 	 

		4.1	Obligations of Distributor6

		4.2	Obligations of Disa Medinotec7

	ARTICLE 5 - CONFIDENTIALITY	 	 	7	 
	ARTICLE 6 - ORDERS, PRICES, PAYMENTS AND DELIVERIES	 	 	8	 
	ARTICLE 7 - MARKETING AND RESALE; STOCK	 	 	9	 
	ARTICLE 8 - PATENT, COPYRIGHT, TRADEMARK, OTHER IP RIGHTS INFRINGEMENT	 	 	10	 
	ARTICLE 9 - WARRANTIES AND LIABILITIES	 	 	10	 
	ARTICLE 10- FORCE MAJEURE	 	 	11	 
	ARTICLE 11 - COMPLIANCE WITH LAWS, RULES AND REGULATIONS	 	 	11	 
	ARTICLE 12 - TERM AND TERMINATION	 	 	12	 
	ARTICLE 13 - MISCELLANEOUS PROVISIONS	 	 	13	 
	ARTICLE 14 -APPLICABLE LAW AND JURISDICTION	 	 	14	 
	SIGNATURE PAGE	 	 	15	 
	Exhibit I - Product Range & Price List	 	 	16	 
	Exhibit II - Guidelines on a Medical Devices Vigilance System	 	 	21	 

 

 

    	 	2	 

    	 

    

 

THIS AGREEMENT
made on 01 March January, 2020 Byandbetween

		(A)	DISA MEDINOTEC (PTY) Ltd., Northlands Business Park, 171 Bush Telegraph
Street, Northriding, Johannesburg 2169, South Africa (Hereinafter called "Disa Medinotec").

and

		(B)	DISA LIFE SCIENCES (Pty) Ltd
(Hereinafter called "Distributor")

 

(Disa Medinotec and Distributor hereinafter called,
jointly, the "Parties", each a

"Party")

 

RECITALS

 

WHEREAS
Disa Medinotec is manufacturing, marketing, and selling Cape Cross PTCA Balloon Catheters,
Cape Cross NC PTCA Balloon Catheters and Trachealator Airway Dilation Catheter.

 

WHEREAS Distributor is
willing to market through its own sales force Disa Medinotec products and declares that it has the appropriate means to promote and develop
the sales of such Product in the Territory.

 

WHEREAS the Parties wish
to define the basis of collaboration whereby the Distributor, directly will act as Disa Medinotec's exclusive distributor for the Disa
Medinotec's Product in the Territory.

 

NOW, THEREFORE, in consideration of the premises
and mutual covenants contained herein, the Parties mutually agree to the following:

 

    	 	3	 

    	 

    

 

EXCLUSIVE
DISTRIBUTION AGREEMENT

 

ARTICLE 1 - DEFINITIONS

 

In this Agreement, each time the
following terms are used with capital initial, meanings shall be specified hereunder:

 

		•	"Contract Years" shall mean the five financial years (Mar - Feb) 2020 - 2025

 

		•	"Effective Date" shall mean the date whereby both parties have signed.

 

		•	"Product"
shall mean the Products currently manufactured by Disa Medinotec and relating to 

                                                                                

	 	 	 
	 	 	- Cape
Cross PTCA Balloon Catheters
	 	 	- Cape Cross PTCA NC Balloon Catheters
	 	 	- Trachealator Non-occlusive Airway Dilation Balloon

 

		•	"Recall Operation" shall mean the operation for recalling the Product if it is

suspected or known to be defective.

 

		•	"Territory" shall mean The Republic of South Africa

 

		•	References herein to Articles and Exhibits shall be to articles and
exhibits of this Agreement.

 

 

ARTICLE 2 - APPOINTMENT

 

		2.1	Disa Medinotec hereby grants to Distributor the exclusive right, which
the Distributor hereby accepts, to distribute the Product as defined in Article 1 in the Territory.

 

		2.2	The Parties understand and agree to directly and indirectly comply with
the exclusivity undertaking. Without limiting the generality of the foregoing,

 

		a)	For the duration hereof, and starting from the Effective Date and onwards,
Distributor shall refrain from being involved, in any way or manner directly or indirectly, in the manufacturing, distribution, promotion
and/or sale of

Product which are or could be
considered as competing Product with the Product described in Article I above.

 

		b)	Disa Medinotec will refrain from actively and inactively selling Product
described in Article I above in the Territory.

 

    	 	4	 

    	 

    

 

		2.3	Distributor represents and warrants to Disa Medinotec that as of the
date of this Agreement Distributor is not representing or selling any product that competes with or conflicts with the Product.

		2.4	Distributor shall purchase from Disa Medinotec the Product which it
shall promote and sell in the Territory using its own sales forces and at its own risk, hazard and liability, save as otherwise expressly
indicated herein.

 

		2.5	Distributor shall perform its distribution activities with due care
and skill, using all necessary and suitable professional staff, as well as appropriate financial and logistic structures, with the aim
at providing top level support and service to the customers in the Territory and at maximizing the sales of the Product.

 

		2.6	Distributor shall strictly comply, at all times, with the procedures
communicated by Disa Medinotec from time to time. In addition, Distributor shall comply with all applicable local and international laws,
regulations and conventions or treaties, in particular (without limitation) those relating to bribery, corrupt practices, illegal payments
to doctors and/or government officials and the like.

 

		2.7	For the purposes of this Agreement, the purchase and sale of goods
shall be governed by the Disa Medinotec's sales conditions, as set out in article 6, unless expressly stated otherwise in the agreement.

 

ARTICLE 3 - COOPERATION
AND TRANSPARENCY; PARTIES' OBLIGATIONS

 

The relationship between the
Parties hereunder shall be based on a spirit of mutual trust, co-operation and transparency involving in particular the communication
by Disa Medinotec of all information reasonably required by Distributor for the promotion and the sale of the Product in the Territory
and the communication by Distributor of all information reasonably required by Disa Medinotec for a good understanding of the market needs
and of the possible development of the Product. To that effect the Parties shall have in particular the following obligations:

 

		3.1	Obligations by Distributor

 

		a)	Distributor shall communicate to Disa Medinotec its marketing and purchasing
plan for the Product for the Contract Year including promotional activities, mailings, participation in exhibitions, sales forecasts for
the Product. All promotional/communication materials and initiatives, like brochures, CD-ROM, flash drives, presentation of operating
techniques and any other mean of communication such as logos, participation to congresses and others, should bear the logo of Disa Medinotec
in a visible way, next to the logo of Distributor,

 

    	 	5	 

    	 

    

 

and in a way and manner
ensuring equal visibility of the two logos. Distributor shall use the expression "Exclusive Distributor of Disa Medinotec"
in all documents, materials, etc. directly or indirectly related and connected to the Product It shall be a fundamental principle of this
Agreement that Distributor shall not be entitled to use logos, protected names, trade or service marks of Disa Medinotec unless each such
use is previously and expressly authorised by Disa Medinotec in writing, such authorisation being granted or withheld on a case-by case
basis.

 

		b)	At any time and/or upon request of Disa Medinotec, Distributor shall
communicate any information concerning the Product, including, and not limited to such information as market trends, competitive environment
and

 

competitor's prices, technical
or commercial information useful for the adaptation of the Product to market requirements, customers, individual prices and terms of payments.
Distributor will follow the marketing guidelines given by Disa Medinotec in terms of promotion and training to personnel and surgeons
of the Product in the Territory.

 

		c)	In order to enable Disa Medinotec to comply with the requirements of
CE and/ or FDA regulations, Distributor shall keep suitable distribution records for each batch of the Product sold. This information
shall be made available to Disa Medinotec upon request.

 

		d)	Distributor shall assist Disa Medinotec to obtain any necessary registration
of the Product in the Territory, as such registrations may be required from time to time under applicable law. The registration costs
and expenses will be borne by the Distributor.

 

		e)	The expected approximate time for the Distributor to obtain registration
of the Product needs to be communicated to Disa Medinotec. In the event that the registration of the Product in the Territory will be
not obtained within one (1) month
past the expected registration date and after receiving all documents required for such registration from Disa Medinotec, Disa Medinotec
will have the right to terminate this Agreement with two (2) months prior written notice without any obligation to indemnify the Distributor.

 

		f)	The Distributor will appoint at least one director
of DISA Medinotec to its Board of directors as a non-executive board member to ensure good governance and oversight is maintained

		3.2	Obligations by Disa Medinotec

 

		a)	Disa Medinotec shall provide Distributor and its employees with sufficient
training, documentation, and technical support. In the case of basic trainings for salespeople of Distributor and in case of travels of
managers of Disa Medinotec to

 

    	 	6	 

    	 

    

 

the Territory, the flight tickets will be paid
by the "sending party" and hotel accommodations and meals will be paid by the "receiving party".

 

		b)	Disa Medinotec shall provide to Distributor brochures, technical information
and specifications relating to the Product for use by Distributor to produce its own advertising and promotional documentation if required.
Any documentation produced by Distributor shall be entirely at the cost and expense of the Distributor and will be submitted to Disa Medinotec
for prior written approval. Distributor will be entitled to use the promotional materials of Disa Medinotec, adapting them, e.g., by a
sticker, to its own use, mentioning always "exclusive Distributor of Disa Medinoted'.

 

		3.3	Meetings

 

Disa Medinotec and Distributor
shall meet, whenever deemed necessary by the Parties and at least twice during each Contract Year, to discuss any and all matter of interest
under this Agreement.

 

 

ARTICLE 4 - CONFIDENTIALITY

 

		4.1	The Parties agree that all information disclosed and communicated hereunder
between them and qualified by the disclosing Party as being confidential (hereinafter called the "Information"), shall be held
and treated in the utmost and strictest confidence. The receiving Party further agrees not to use the Information to the benefit of itself
or of others, except for any other use consistent herewith, and not to disclose any of such Information to any third party unless and
until expressly authorized in writing to do so by the disclosing Party.

 

		4.2	The Parties however agree that, notwithstanding the above mentioned
obligations of confidentiality and restricted use, the receiving Party shall be under no such obligation with respect to any information
(i) which is, at
the time of disclosure, already available to the general public, (ii) which becomes at later date available to the general public through
no fault of the receiving Party and then only after said later date, (iii) which the receiving Party can demonstrate was in its possession
before receipt without any qualification as being confidential or (iv) which was disclosed to the receiving Party by a third party without
restriction on disclosure, such third party having the lawful right to disclose such Information.

 

		4.3	The above-mentioned obligations of confidentiality
and restricted use shall remain in effect for the duration hereof and for a period of five (5) years
after the date of termination of this Agreement.

 

 

ARTICLE 5 - ORDERS, PRICES, PAYMENTS AND DELIVERIES

 

    	 	7	 

    	 

    

 

		5.1	Distributor shall, on the date of commencement of the contract year
communicate to Disa Medinotec its purchase forecasts for the Product.

 

		5.2	Each order placed by the Distributor shall be deemed
accepted upon the explicit, prior written confirmation of acceptance by Disa Medinotec, but Disa Medinotec shall not unreasonably withhold
such acceptance.

 

Disa Medinotec shall use its reasonable
commercial efforts to supply the Product, which are the subject matter of a confirmed order withing eight (8) weeks from the date of the
written confirmation of acceptance of the order by Disa Medinotec.

Deliveries will occur "ex works Disa Medinotec,
Johannesburg, South Africa.

The initial stock will
be created by Distributor and Disa Medinotec will cooperate to deliver it.

 

		5.3	Thereafter, the Price may be reviewed not more than once a year. To
that effect, Disa Medinotec shall propose a Price ("Proposed Price") revision to Distributor and within a period of thirty (30)
days after the receipt of any such proposal the Parties shall negotiate in good faith such new Prices, in particular taking into account
production and cost related elements. The agreed new Prices shall be applicable to all orders sent by Distributor after the agreement
on the Price revision is reached. Should, at the end of said thirty (30) days' period of negotiation, the Parties be unable to agree on
the Proposed Price(s), thirty (30) further days are allowed for negotiation during which time the current Price(s) shall apply.

		5.4	The payment currency will be in South African Rands (ZAR).

 

		5.6	All sales made according to this Article 6 shall be final and no Product may be returned without the
prior written consent of Disa Medinotec (Pty) Ltd.

 

 

ARTICLE 6:MARKETING
AND RESALE; STOCK

 

		6.1	Distributor shall strictly comply with Disa Medinotec's product marketing
and communication strategy, as it will be communicated to Distributor from time to time. In case of major differences about the strategy
for a specific product, Disa Medinotec shall have the option to withdraw the exclusivity for the concerned product. Distributor shall
ensure that the sale, promotion, and introduction of the Product in the Territory comply with the Product' importation permit or other
registration with the territory's authorities.

 

		6.2	Distributor shall not represent itself as Disa Medinotec's agent or
representative. Distributor shall act independently and on its own and organize itself the way it deems most appropriate to carry out
its tasks hereunder.

 

    	 	8	 

    	 

    

 

		6.3	Distributor shall endeavour its best efforts to promote and sell the
Product to existing and potential customers within the Territory, by all appropriate means. Any and all costs and expenses related to
actions engaged and means set up by Distributor to that effect shall be borne by Distributor.

 

		6.4	Distributor shall, at its own cost, provide customers with all adequate
technical support and instructions for use with a view to developing customers' knowledge of the Product and to insure proper use of the
Product. Technically qualified employees will execute the technical support services.

 

		6.5	Distributor shall promptly inform Disa Medinotec both by phone and email
of any and all claims initiated or threatened by customers. More particularly Distributor shall duly investigate the origin of such claim
and the Parties shall reasonably agree on the appropriate way of dealing with the relevant issues. It is however understood that, should
Disa Medinotec's liability or responsibility be involved, Disa Medinotec shall, at its own discretion and responsibility, decide on and
carry out the appropriate course of action.

 

		6.6	In order to ensure traceability Distributor will,
on its own behalf, maintain accurate and complete records of all sales and other distributions of the Product for a minimum of 20
years including at least the following:

		a)	Date of sale or distribution;

		b)	Description of the Product, including name, model, and serial number;

		c)	Identity of purchaser, including name and address;

		d)	If permitted under the law of
the Territory, identity of patients, including name and address, in whom the Product are used.

 

Distributor will make the foregoing
information avaHable to Disa Medinotec, at the latter's request, and to any governmental authority legally entitled to such information.
Within fifteen (15) days after termination of this Agreement, Distributor will provide to Disa Medinotec a copy of its records containing
the foregoing information.

 

The responsibility of the traceability
remains with the Distributor, which shall be in a position to provide all data to Disa Medinotec, upon request.

 

Distributor further agrees to
cooperate in any recall procedure initiated by Disa Medinotec or governmental authority acting within or outside the Territory.

 

		6.7	Further to article 6.6 above the distributor shall maintain a vigilance
system in accordance with MEDDEV 2.12-1 which is presented in Exhibit II.

 

		6.8	Distributor shall keep at all times an adequate inventory of the Product
as reasonably required to meet the demand of its customers in the Territory with the shortest possible delivery time. Furthermore, Distributor
shall keep such inventory according to the warehousing conditions, as required for medical devices.

 

    	 	9	 

    	 

    

ARTICLE 7: PATENTS, COPYRIGHT, TRADEMARKS INFRINGEMENTS

 

		7.1	If Distributor is charged with
infringement of any patent - relating to the manufacture and/or the use of the Product of Disa Medinotec, copyrights, trademarks and/or
other intellectual property rights of Disa Medinotec- Disa Medinotec shall have the sole right to conduct any negotiations and to control
any litigation provided Disa Medinotec shall be notified promptly in writing and given authority to resolve any such claim.

 

		7.2	Distributor shall inform Disa Medinotec in good faith and shall render
to Disa Medinotec, all assistance reasonably necessary and/or requested by Disa Medinotec. Disa Medinotec shall indemnify and hold Distributor
harmless from all losses, costs, claims, suits, judgments, penalties, liabilities or damages and expenses (including attorney's fees and
costs) of any kind, arising from a claim that the Product infringe a patent or any other intellectual property right (except to the extent
such infringement, violation or claim is due to Distributor).

 

 

ARTICLE 8 - WARRANTIES AND LIABILITIES

 

		8.1	Disa Medinotec warrants that:

		a)	All Product will be of merchantable quality, will be in conformity
with the EC regulations and shall be in substantial conformity with the specifications, product pamphlets and samples related to the Product.

		b)	Disa Medinotec is not aware of any rights of any third party in the Territory,
which might render the sale of the Product, or the use of any of Disa Medinotec's logos, trademarks or other intellectual property unlawful
or challengeable.

 

		8.2	Distributor shall invoice its customers in its own name and for its
own account and shall therefore be responsible for any risks or liabilities arising from the sale, shipment or use of the Product by its
customers to the exclusion of those risks and liabilities which are directly attributable to the Product. Disa Medinotec shall not incur
any risk or liability attributable to the Product when such occurrence is caused by any negligence or other default on the part of Distributor.

 

		8.3	Disa Medinotec shall indemnify and keep Distributor harmless from all
losses, costs or damages, which Distributor may be held liable to pay as a result of claims or suits arising out of any injuries to persons
and/or damages to property caused by Product not being in substantial conformity with the specifications, product pamphlet and related
samples of the Production (i.e., product liability claims). This obligation will not apply if the claims or suits incurred are due to
Distributor's own made warranties or negligence.

 

		8.4	Distributor shall in turn indemnify and keep Disa Medinotec harmless from all

 

    	 	10	 

    	 

    

losses, costs, or damages,
which Disa Medinotec may be held liable to pay as a result of claims or suits, arising out of any activity performed by Distributor in
connection with the importation, advertisement, introduction, promotion, distribution and/or sale of the Product.

 

		8.5	In the event Distributor is under the obligation of recalling any Product
from its customer(s), then Distributor shall be entitled and obliged to return the recalled Product to Disa Medinotec at the same purchasing
price and same payment terms, The Parties shall affect and maintain a product liability insurance coverage reasonably sufficient to cover
damages as might be caused by the Product sold by Distributor in the Territory.

 

 

ARTICLE 9 - FORCE MAJEURE

 

		9.1	The obligations of either Party to perform under this Agreement, with
the exception of the obligation to pay for the delivered Product, either the respective purchase price thereof which may not be excused
under any circumstances, shall be excused during any period of delay caused by matters such as strikes, acts of God or changes in the
regulatory framework or applicable law, which are reasonably beyond the control of the party obligated to perform.

 

 

ARTICLE 10 - COMPLIANCE
WITH LAWS, RULES AND REGULATIONS

 

		10.1	Disa Medinotec will comply with all applicable provisions of any rules
and regulations promulgated by the regulatory agency with jurisdiction over the Product in the Country of origin.

 

		10.2	Distributor will be solely responsible for compliance with all laws,
rules, and regulations applicable anywhere in the Territory, including, without limitation, any laws, rules and regulations relating to
privacy, the importation and sale, of medical devices, as well as all laws governing improper payments to officials or others in furtherance
of the promotion of Product such as the Product. The Distributor will obtain and maintain all necessary importation permits, license,
or registrations from competent authorities, and will satisfy and maintain all statutory conditions as may be required under law to satisfy
the legal importation and trading of the Product in the Territory.

Distributor will accept the
documents and/or instructions of Disa Medinotec concerning any other international rule concerning the compliance to international laws
(i.e., rules and/or laws from outside the country of origin and/or the Territory.

 

		10.3	Distributor will apply for all approvals required for the importation
and commercialisation of the Product in the Territory. Distributor will submit all documents required for such approval to Disa Medinotec
for its review before the documents are submitted to the appropriate regulatory authority. Distributor will

 

    	 	11	 

    	 

    

 

ARTICLE 11 - TERM AND TERMINATION

 

		11.1	This Agreement shall be effective as of the Effective Date and shall
expire at Feb 28, 2025.

 

11.
2 It
shall thereafter continue for successive periods of two (2) years each, provided the Parties have agreed upon the Minimum Targets for
said successive periods and on the price of the Product, and unless terminated by either Party with written notice of termination to the
other Party at least six (6) months prior to the end of the Initial Term and/or of any the successive period of three (3) years.

 

		11.3	It is
hereby agreed that Disa Medinotec shall have the right to terminate this Agreement immediately with written notice, and without any obligation
to indemnify the Distributor, in the following cases:

 

		a)	the active resale of Product by the Distributor outside the Territory;
- the infringement of non-competition obligation;

 

		b)	in case of partial or total discontinuance or interruption of the activities
of the Distributor, in case of insolvency, bankruptcy, receivership, and/or liquidation of the Distributor, or any kind of concurrence
of creditors.

 

		c)	in case of wrongful misconduct, fraud, gross default,
criminal offences, gross negligence, or the non-compliance with Articles 3.1 c), 12.2. and 12.3 of this Agreement.

 

e)       any
other material breach of this Agreement by the Distributor.

 

		11.4	It is
hereby agreed that Distributor shall have the right to terminate this Agreement immediately with written notice, and without any obligation
to indemnify Disa Medinotec in case of a material breach of Disa Medinotec.

 

		11.5	Without prejudice to any right granted to terminate, in all cases,
the Parties will use their best efforts to immediately remediate any situation based upon which any Party has the right to terminate this
Agreement.

 

		11.6	Upon termination of this Agreement for any reason whatsoever, the following
shall apply.

 

		a)	Neither party hereto shall be liable to the other for any termination
compensation, whether based on goodwill, loss of income or otherwise.

 

    	 	12	 

    	 

    

		b)	Upon notice of termination of this Agreement for any reason whatsoever,
Disa Medinotec shall deliver any and all orders placed by Distributor prior to said termination date, provided however that such acceptance
by Disa Medinotec of orders from Distributor shall not be construed as a renewal of this Agreement for any further term or as a waiver
of the termination, and, provided further, that all such deliveries shall be paid for in full in advance except if the party notifying
termination is Disa Medinotec.

 

		c)	Within thirty (30) days of the termination of this Agreement, Distributor
shall return to Disa Medinotec all advertising material, catalogues, technical files or other Distributor has received from Disa Medinotec
during the term of this Agreement, and terminate sales of Product.

 

		d)	Distributor shall no longer have the right to use any Trademarks or
Disa Medinotec's logos or names in any manner whatsoever, and will refrain from using these Intellectual Property rights, and remove these
from any material.

 

		e)	Distributor shall not, for any reason, obstruct the sales and the delivery
of the Product in the Territory after termination of the contract.

 

		t)	In case of termination by Disa Medinotec for any reason other than due to a breach by Distributor,
Disa Medinotec shall purchase from Distributor any and all Product held by Distributor as of the date of termination (excluded all polyethylene
components with less than 2.5 years of residual shelf life), for their original purchase price (provided that such Products are unused
and are in their original packaging, comprisable and inspected with a satisfactory results by Disa Medinotec).

 

		g)	Upon Disa Medinotec's request, and to the fullest extent permitted under applicable law.

 

Distributor shall immediately
transfer to Disa Medinotec, or any other party individualized by Disa Medinotec, for no consideration, any and all medical registrations,
including any and all Product specifications submitted to regulatory authorities, price approvals, reimbursement approvals and/or other
authorizations and/or permits necessary or prudent for the marketing and sale of the Product in the Territory. Furthermore, Distributor
shall to the best of its ability assist Disa Medinotec in having the registrations, the applications for registrations and the permits
relating to the Product and the Product licenses transferred to Disa Medinotec or a party designated by Disa Medinotec for the Territory.
Distributor is not entitled to hold any lien on the registrations or the applications for registrations, and undertakes to sign all relevant
and necessary certificates, in order for Disa Medinotec to have the registrations, the applications and the permits transferred.

Should assignment of the registrations
and permits not be possible for legal reasons, Distributor upon request from Disa Medinotec agrees to immediately renounce any registrations,
applications for registrations and permits issued in its name.

 

    	 	13	 

    	 

    

 

Distributor shall, to the
best of its ability, assist and facilitate Disa Medinotec in having the Product registrations, permits, and licenses registered to a party
or parties which Disa Medinotec may designate for the Territory. If Distributor is registered as the user of the trademarks in any register
in the Territory, Distributor shall automatically cease to use them and, as per the effective date of termination, arrange for and document
to Disa Medinotec cancellation of any such registrations as the user of the trademarks.

Distributor shall not,
for any reason, obstruct the sales and the delivery of the Product in the Territory after termination of the contract.

 

 

ARTICLE 12 - MISCELLANEOUS PROVISIONS

 

		12.1	Nothing contained herein shall constitute, or shall be deemed to constitute,
a partnership between the Parties or constitute, or be deemed to constitute, Distributor as having authority or power to bind Disa Medinotec,
to receive payments on behalf of Disa Medinotec, or the right to contract in the name of and/or create a liability against Disa Medinotec
in any way or for any purpose.

 

		12.2	Nothing herein shall be construed as granting to Distributor any right
or license to use patents, marks, logos, names or other intellectual property owned by or pertaining to Disa Medinotec save as expressly
indicated in this Agreement. Distributor shall promptly inform Disa Medinotec about any event, which may amount to an infringement of
Disa Medinotec's intellectual property rights.

 

		12.3	All notifications required hereunder shall be sent by e-mail with receipt
request and confirmed by registered mail to the respective addresses of the Parties shown at the beginning of this Agreement or to any
other address of either Party notified accordingly to the other Party.

 

		12.4	Any provision of this Agreement which in any way contravenes any applicable
law shall be deemed separable and shall not affect the validity of any other provision of this Agreement.

 

		12.5	Failure of either Party to enforce complete and punctual performance
of any obligation hereunder of the other Party shall not be deemed as a waiver of such Party's right to thereafter enforce that or any
other term hereof.

 

		12.6	All written notices from one party to another shall be sent by e-mail,
confirmed registered letter or by courier, or by registered letter or by courier.

 

ARTICLE 13 - APPLICABLE LAW AND JURISDICTION

 

		13.1	This Agreement shall in all respects, including the formation, validity,
performance, and termination hereof, be governed by and construed in accordance with South African law.

 

    	 	14	 

    	 

    

 

		13.2	The Courts of Johannesburg, South Africa shall have exclusive jurisdiction
in case of disputes.

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be signed as of the date
first written above in two (2) originals, by their duly authorized officers.

 

 

DISA MEDINOTEC

 

Name: Gregory Vizirgianakis

Title:
CEO

 

Signature /s/ Gregory
Vizirgianakis

 

Date:1
March 2020

 

 

DISTRIBUTOR

 

Name:
Ruben Phiri

Title:
Owner

 

 

Signature:
/s/ Ruben Phiri

Date:1 March 2020

    	 	15	 

    	 

    

 

Exhibit I

 

 

 

PRODUCT RANGE

 

	
     

     

    Item No.
	
     

     

    CAPE CROSS RANGE

    Description

	CCDl-1510	Cape Cross PTCA Catheter
	CCDl-1512	Cape Cross PTCA Catheter
	CCDl-1515	Cape Cross PTCA Catheter
	CCDl-1520	Cape Cross PTCA Catheter
	CCDl-1525	Cape Cross PTCA Catheter
	CCDl-2010	Cape Cross PTCA Catheter
	CCDl-2012	Cape Cross PTCA Catheter
	CCDl-2015	Cape Cross PTCA Catheter
	CCDl-2020	Cape Cross PTCA Catheter
	CCDl-2025	Cape Cross PTCA Catheter
	CCDl-2030	Cape Cross PTCA Catheter
	CCDl-2510	Cape Cross PTCA Catheter
	CCDl-2512	Cape Cross PTCA Catheter
	CCDl-2515	Cape Cross PTCA Catheter
	CCDl-2520	Cape Cross PTCA Catheter
	CCDl-2525	Cape Cross PTCA Catheter
	CCDl-2530	Cape Cross PTCA Catheter
	CCDl-3010	Cape Cross PTCA Catheter
	CCDl-3012	Cape Cross PTCA Catheter
	CCDl-3015	Cape Cross PTCA Catheter
	CCDl-3020	Cape Cross PTCA Catheter
	CCDl-3025	Cape Cross PTCA Catheter
	CCDl-3030	Cape Cross PTCA Catheter

 

    	 	16	 

    	 

    

 

	
     

     

     

    Item No.
	
     

     

    CAPE
    CROSS RANGE

    Description

	CCDl-3510	Cape Cross PTCA Catheter
	CCDl-3512	Cape Cross PTCA Catheter
	CCDl-3515	Cape Cross PTCA Catheter
	CCDl-3520	Cape Cross PTCA Catheter
	CCDl-3525	Cape Cross PTCA Catheter
	CCDl-3530	Cape Cross PTCA Catheter
	CCDl-4010	Cape Cross PTCA Catheter
	CCDl-4012	Cape Cross PTCA Catheter
	CCDl-4015	Cape Cross PTCA Catheter
	CCDl-4020	Cape Cross PTCA Catheter
	CCDl-4025	Cape Cross PTCA Catheter
	CCDl-4030	Cape Cross PTCA Catheter
	NCDl-20006*	Cape Cross NC PTCA Catheter
	NCDl-20010	Cape Cross NC PTCA Catheter
	NCDl-20012	Cape Cross NC PTCA Catheter
	NCDl-20015	Cape Cross NC PTCA Catheter
	NCDl-20020	Cape Cross NC PTCA Catheter
	NCDl-20025*	Cape Cross NC PTCA Catheter
	NCDl-20030*	Cape Cross NC PTCA Catheter
	NCDl-22506*	Cape Cross NC PTCA Catheter
	NCDl-22510	Cape Cross NC PTCA Catheter
	NCDl-22512	Cape Cross NC PTCA Catheter
	NCDl-22515	Cape Cross NC PTCA Catheter
	NCDl-22520	Cape Cross NC PTCA Catheter
	NCDl-22530*	Cape Cross NC PTCA Catheter
	NCDl-22540*	Cape Cross NC PTCA Catheter

    	 	17	 

    	 

    

 

	
     

     

     

    Item No.
	
     

     

     

     

     

    "

    CAPE CROSS RANGE

    Description

	NCDl-25006*	Cape Cross NC PTCA Catheter
	NCDl-25010	Cape Cross NC PTCA Catheter
	NCDl-25012	Cape Cross NC PTCA Catheter
	NCDl-25015	Cape Cross NC PTCA Catheter
	NCDl-25020	Cape Cross NC PTCA Catheter
	NCDl-25025*	Cape Cross NC PTCA Catheter
	NCDl-25030*	Cape Cross NC PTCA Catheter
	NCDl-27506*	Cape Cross NC PTCA Catheter
	NCDl-27510	Cape Cross NC PTCA Catheter
	NCDl-27512	Cape Cross NC PTCA Catheter
	NCDl-27515	Cape Cross NC PTCA Catheter
	NCDl-27520	Cape Cross NC PTCA Catheter
	NCDl-27525*	Cape Cross NC PTCA Catheter
	NCDl-27530*	Cape Cross NC PTCA Catheter
	NCDl-30006*	Cape Cross NC PTCA Catheter
	NCDl-30010	Cape Cross NC PTCA Catheter
	NCDl-30012	Cape Cross NC PTCA Catheter
	NCDl-30015	Cape Cross NC PTCA Catheter
	NCDl-30020	Cape Cross NC PTCA Catheter
	NCDl-30025*	Cape Cross NC PTCA Catheter
	NCDl-30030*	Cape Cross NC PTCA Catheter
	NCDl-32506*	Cape Cross NC PTCA Catheter
	NCDl-32510	Cape Cross NC PTCA Catheter
	NCDl-32512	Cape Cross NC PTCA Catheter
	NCDl-32515	Cape Cross NC PTCA Catheter
	NCDl-32520	Cape Cross NC PTCA Catheter
	NCDl-32525*	Cape Cross NC PTCA Catheter
	NCDl-32530*	Cape Cross NC PTCA Catheter

    	 	18	 

    	 

    

 

	
     

     

     

    Item No.
	
     

     

    CAPE CROSS RANGE

    Description

	NCDl-35006*	Cape Cross NC PTCA Catheter
	NCDl-35010	Cape Cross NC PTCA Catheter
	NCDl-35012	Cape Cross NC PTCA Catheter
	NCDl-35015	Cape Cross NC PTCA Catheter
	NCDl-35020	Cape Cross NC PTCA Catheter
	NCDl-35025*	Cape Cross NC PTCA Catheter
	NCDl-35030*	Cape Cross NC PTCA Catheter
	NCDl-40006*	Cape Cross NC PTCA Catheter
	NCDl-40010	Cape Cross NC PTCA Catheter
	NCDl-40012	Cape Cross NC PTCA Catheter
	NCDl-40015	Cape Cross NC PTCA Catheter
	NCDl-40020	Cape Cross NC PTCA Catheter
	NCDl-40025*	Cape Cross NC PTCA Catheter
	NCDl-40030*	Cape Cross NC PTCA Catheter
	NCDl-45006	Cape Cross NC PTCA Catheter
	NCDl-45010	Cape Cross NC PTCA Catheter
	NCDl-5012	Cape Cross NC PTCA Catheter
	NCDl-45015	Cape Cross NC PTCA Catheter
	NCDl-45020	Cape Cross NC PTCA Catheter
	NCDl-45025	Cape Cross NC PTCA Catheter
	NCDl-45030	Cape Cross NC PTCA Catheter

    	 	19	 

    	 

    

 

 

	Catalogue Number	
    TRACHEALATOR

    Product Description

	TRDl- 06030	Trachealator airway dilation balloon 6mmx30mm
	
    TRDl-

    07030
	Trachealator airway dilation balloon 7mmx30mm
	TRDl- 08030	Trachealator airway dilation balloon 8mmx30mm
	
    TRDl-

    09030
	Trachealator airway dilation balloon 9mmx30mm
	
    TRDl-

    10030
	Trachealator airway dilation balloon 10mmx30mm
	
    TRDl-

    12040
	Trachealator airway dilation balloon 12mm x40mm
	
    TRDl-

    14540
	
    Trachealator airway dilation balloon

    14.5mm x 40mm

	
    TRDl-

    16040
	Trachealator airway dilation balloon 16mm x40mm
	
    TRDl-

    18040
	Trachealator airway dilation balloon 18mmx40mm

 

    	 	20	 

    	 

    

 

Exhibit
II

 

GUIDELINES ON A MEDICAL DEVICES VIGILANCE SYSTEM

 

    	 	21

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