Document:

ex1026

Exhibit 10.26 
 

ADDENDUM TO THE 
LEASE AGREEMENT 
Made and entered into by and between 
BUZZ TRADING 199 (PTY) LTD 
Registration Number 2007/021617/07 
Represented by: Lance Manning Seymour Chalwin-Milton 
ID Number: xxx 
(“the Landlord”) 
AND 
NET 1 APPLIED TECHNOLOGIES SOUTH AFRICA LIMITED 
Registration Number 2002/031446/06 
Represented by: Naeem E. Kola 
ID Number: xxx 
(“the Tenant”) 
in respect of certain premises situated at 
President Place, Cnr Hood and Bolton Roads, Rosebank 
 

Reg. No. 2001/005175/07 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

WHEREAS 
the 
parties 
hereto 
entered 
into 
an 
Agreement 
of 
lease, 
pertaining 
to 
the 
premises 
measuring 
approx. 
8063.65 
square 
meters, 
situated 
at President 
Place, 
7 Hood 
Avenue, 
Rosebank, 
Johannesburg. 
The premises 
comprise 
of the following:
Section
1
Floor
Basement1
Wing
SQM
620.00
2
Ground 
Floor
West Wing
221.66
8
Ground 
Floor
North 
Wing
150.29
13
3
rd
 
Floor
West Wing
938.72
14
3
rd
 
Floor r
North 
Wing
938.72
16
4
th
 
Floor
West 
Wing
938.70
16
4
th
 
Floor
North Wing
938.70
17
5
th
 
Floor
West 
Wing
938.70
18
5
th
 
Floor
North Wing
938.70
19
6
th
 
Floor
West Wing
716.73
20
6
th
 
Floor
North Wing
722.73
STORAGE 1 - 
BASEMENT 1 
4 
PARKING 
BAYS
STORAGE 2 
- BASEMENT 3 

8 
PARKING 
BAYS
AND WHEREAS 
the 
Lessor 
and Lessee 
has agreed 
to extend 
the 
main lease 
for 
a further 
period 
of 6
(Six) years;
Now
therefore
ft is agreed
as follows:
•
1. 
That the 
lease term Is• extended 
for a period 
of 
6 (Six) 
years, commencing 
on the 
01 
June 2022 
and expiring 
on 1he 
31 
May 2028.
2. 
That 
all 
terms 
and 
conditions 
of 
the 
main 
Lease 
Agreement 
signed 
on 
the 
7 
May 
2013, will 
remain for 
the extended 
period of this 
Addendum.
3. 
That 
the 
monthly 
rental 
throughout 
the 
initial 
period 
payable 
by 
the 
LESSEE 
to 
the 
LESSOR
shall be:
Monthly
Net Rental,
Parking
and
Storage
fixed
for the Lease period:
Period
Amount 
Excl VAT
Escalation
1 June 2022- 
31 May 
2028
R886 
000.00
0.00%
Monthl
IY 
0
,nera
ti
ng 
C
osts: 
Initial Rates 
& 
Taxes: 
This charge as at the 01 June 2022 ls 
R 199 
992.66 per 
month
(ex Vat) 
escalating 
annually 
as per the 
council 
increases 
per annum. 
The next Increases 
will 
be passed 
on the 01 
July 2022.
Parking: 
250 
basement bays 
storerooms: 
Total 
of 12 parking bays
4. 
Additional
 
Charges 
The tenant will 
be 
liable for the 
following additional monthly charges: 
Period
Amount 
Exc
l 
VAT
Escalation
1 June 2022 
- 31 
May 2023
R 
326 
621.00
5.00%
1 
June 
2023 - 
31 May 2024
R 
342 952
.
05
5
.
00%
1 
June 
2024 - 
31 
Mav 2025
R 
360 
099
.
65
5
.
00%
1 
June 
2025 - 31 May 2026
R378104.64
5
.
00%
1 
June 2026 
- 
31 Mav 2027
R 
397 009.87
5
.
00
%
1 June 
2027 - 31 
Mav 
2028
R 
416 860.37
5
,
00%

 

4.1 
Electricity- 
The metered cost of all 
electricity consumed by the Tenant at the tariff to the 
Tenant 
plus a charge for reading the meter. 
If not metered, consumption will 
be calculated 
according 
to the area of the 
premises in relation 
to the gross 
lettable area ("gla”) 
of the building. In addition to the aforementioned the 
tenant will be liable to pay pro rata share in proportion 
to the gross lettable 
area of the building of the electricity 
consumed 
within the common area 
or 
areas of the building, including the electricity 
consumed 
by the air 
conditioning 
system servicing 
the common areas.
4.2 
Water- 

The 
metered 
cost 
of 
all 
water 
consumed 
by 
the 
Tenant. 
If 
not 
metered, 
consumption will 
be 
calculated 
according to 
the area 
of the 
premises 
in 
relation to the gross lettable area ("gla”) of the building.
4.3 
Sewerage 
& 
Refuse: 
A 
prorata share of the municipal charges for refuse 
removal, 
sewerage and other sanitation related charges; provided that 
if the volume of 
refuse generated by the tenant is higher, 
per square meter of space occupied, 
than the average, the calculation will be weighted to take 
account thereof; 
5 
Tenant 
Installation 
The 
Landlord 
shall 
contribute 
a 
maximum 
amount 
of 
R 
9 000 
000,00 
(nine 
million 
rand)(ex 
VAT) 
towards 
the 
Tenants 
cost 
for 
the 
remodeling 
of 
the 
Tenants 
rented 
space, 
which 
amount 
shall 
be 
payable 
against 
approved 
construction 
invoices 
(payment 
terms). 
Please 
note thal 
specifically 
no amounts 
will be paid 
towards 
any furniture or moveable assets.
6 
Slgnage
 
Board 
The 
Tenant 
shall 
be 
given 
3 
months 
usage 
of 
the 
new 
Signage 
Boards 
at 
no 
additional 
cost. 
Should 
the 
tenant 
decide 
to 
extend 
this period 
the 
tenant 
will 
deal 
directly 
with 
Epic 
Outdoor 
and will be expected 
to cover the monthly costs of placement. 
7. 
Walkway upgrade
The Landlord is committed to the upgrading of the walkways 
between floors three - 
six. Please 
further note 
that no Furniture 
will be provided 
by the Landlord.
Apart from the amendments contained herein, the 
terms and conditions of the Main Lease 
shall apply 
to this 
Addendum. 
 

The 
domicilium
citandi 
et executandi
of
Net1
Applied Technologies
South Africa Limited is
President Place 
6
th 
Floor West 
Wing 

7 Hood Avenue 

Rosebank 
Dated at Rosebank this 14
th
 
day of June 2022 
/s/ Lance Chalwin Milton 
________________________________________ 
For and behalf of LESSOR 
As Witnesses: 
Dated at Rosebank this 14
th
 
day of June 2022 
/s/ Naeem E. Kola 
________________________________________ 
For and behalf of LESSEE 
As Witnesses:ex1032

 

 

 

 

 

 

 

 

 

 

 

AMENDMENT NO. 2 
TO 
COOPERATION AGREEMENT 
This 
Amendment 
No. 2 
(this 
“Amendment”) 
to 
Cooperation 
Agreement 
dated 
as 
of 
March 22, 2022, is by and between Net 1 UEPS Technologies, Inc., a Florida corporation (the 
“Company”), and Value 
Capital Partners (Pty) Ltd. 
(Registration number 2016/242305/07), 
a 
South 
African private 
company 
(“VCP,” 
and together 
with the 
Company, 
the “Parties,” 
and 
each, a “Party”). 
RECITALS 
WHEREAS, 
the 
Parties 
have 
entered 
into 
a 
Cooperation 
Agreement 
dated 
as 
of 
May 13, 2020, which was amended by Amendment No. 1 on 
December 9, 2020 (as heretofore 
amended, 
amended 
and 
restated, 
supplemented 
or 
otherwise 
modified 
from 
time 
to 
time 
in 
accordance with its provisions, the “Agreement”); and 

WHEREAS, 
the 
Parties 
hereto 
desire 
to 
amend 
the 
Agreement 
to 
(i) 
permit 
VCP 
to 
acquire the Company’s securities pursuant 
to that certain 
Securities Purchase Agreement dated 
as of March 14, 
2022, by and 
among the Company, 
Net1 Applied Technologies 
South Africa 
Proprietary Limited and VCP and (ii) modify certain standstill provisions related thereto. 
NOW, 
THEREFORE, in 
consideration of 
the foregoing 
and other 
good and 
valuable 
consideration, the receipt and sufficiency of 
which are hereby acknowledged, the Parties 
agree 
as follows: 
1.
Definitions. 
Capitalized terms 
used and 
not defined 
in this 
Amendment have 
the respective meanings assigned to them in the Agreement. 
2.
Amendments to 
Section 2 of 
the Agreement. 
As of 
the date 
hereof, Section 2 
of the Agreement is hereby amended or modified as follows: 
(a)
Section 2(b) 
of 
the 
Agreement 
is 
hereby 
amended 
and 
restated 
in 
its 
entirety as follows: 
“(b) except following approval of the Board, 
purchase or cause to be purchased 
or 
otherwise acquire 
(i) 
beneficial ownership 
of 
any 
Common 
Stock 
or 
other 
Securities 
of 
the 
Company 
(other 
than 
securities 
issued 
pursuant 
to 
a 
plan 
established 
by 
the 
Board 
for 
members 
of 
the 
Board 
or 
a 
stock 
split, 
stock 
dividend or 
similar corporate 
action initiated 
by the 
Company with 
respect to 
any securities 
beneficially owned 
by VCP), 
if immediately 
after the 
taking of 
such action, VCP together with 
its controlled and controlling 
Affiliates would, 
in 
the 
aggregate, 
beneficially 
own 
more 
than 
24.9% 
of 
the 
then 
outstanding 
shares of 
Common Stock, or 
(ii) interests 
in any 
of the 
Company's indebtedness; 
provided, however that 
the foregoing purchase 
and acquisition 
limitation shall 
not any apply to any shares of Common Stock acquired pursuant to that certain 
Securities Purchase Agreement dated 
as of March 14, 
2022, by and among 
the 
Company, 
Net1 
Applied 
Technologies 
South 
Africa 
Proprietary 
Limited 
and 
VCP;” 

 

 

 

(b)
The two paragraphs 
at the end 
of Section 2 of the 
Agreement, beginning 
with 
the 
words, 
“In 
the 
event 
that . . . 
.” 
are 
hereby 
amended 
and 
restated 
in 
their 
entirety as follows: 
“Notwithstanding 
anything 
to 
the 
contrary 
herein, 
nothing 
in 
this 
Agreement 
shall 
restrict 
(i) 
VCP’s 
ability 
to 
vote, 
transfer 
or 
hedge 
any 
Common 
Stock 
beneficially owned by it or (ii) the New Nominee from taking any action in his 
or her capacity as a director of the Company in a manner consistent 
with his or 
her fiduciary duties to the Company, 
and the taking of any such action by 
such 
individuals shall not be a breach of this Agreement.” 
3.
Date of Effectiveness; Limited Effect. 
This Amendment shall be deemed as of 
the date first written above. 
Except as expressly provided in this Amendment, all of the terms 
and provisions 
of the 
Agreement are 
and will 
remain in 
full force 
and effect 
and are 
hereby 
ratified 
and 
confirmed 
by 
the 
Parties. 
Without 
limiting 
the 
generality 
of 
the 
foregoing, 
the 
amendments contained herein will 
not be construed as 
an amendment to or 
waiver of any other 
provision of the 
Agreement or as a 
waiver of or consent 
to any further or 
future action on the 
part of either 
Party that 
would require the 
waiver or 
consent of the 
other Party. 
On and after 
the 
date 
hereof, 
each 
reference 
in 
the 
Agreement 
to 
“this 
Agreement,” 
“the 
Agreement,” 
“hereunder,” 
“hereof,” “herein,” 
or words of like import, and each reference to the Agreement 
in any other 
agreements, documents, or 
instruments executed and 
delivered pursuant to, 
or in 
connection with, the 
Agreement, will 
mean and 
be a 
reference to 
the Agreement 
as amended 
by this Amendment. 
4.
Miscellaneous. 
(a)
This Amendment is governed by and 
construed in accordance with, the 
laws of the 
State of New York, without regard to 
the conflict of 
laws provisions of such 
State. 
(b)
This Amendment shall inure to the benefit of and be binding upon each 
of the Parties and each of their respective successors and assigns. 
(c)
The headings 
in this 
Amendment are 
for reference only 
and do 
not affect 
the interpretation of this Amendment. 
(d)
This 
Amendment 
may 
be 
executed 
in 
counterparts, 
each 
of 
which 
is 
deemed an original, but all of which constitute 
one and the same agreement. 
Delivery 
of an 
executed counterpart 
of this 
Amendment electronically 
or by 
facsimile shall 
be 
effective as delivery of an original executed counterpart of this Amendment. 
(e)
This Amendment constitutes the sole and entire agreement between the 
Parties with respect to the subject matter 
contained herein, and supersedes all prior and 
contemporaneous 
understandings, 
agreements, 
representations, 
and 
warranties, 
both 
written and oral, with respect to such subject matter. 
[Signature Page Follows] 

 

 

IN WITNESS WHEREOF, the Parties have executed 
this Amendment as of the date first 
written above. 
NET 1 UEPS TECHNOLOGIES, INC.
By: /s/ Alex M.R. Smith 

Name: 
Alex M.R. Smith 
Title: Chief Accounting Officer 
VALUE 
CAPITAL PARTNERS 
(PTY) LTD.
By: /s/ Sam Sithole 

Name: 
Sam Sithole 
Title: CEO

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