Document:

Net 1 UEPS Technologies, Inc.: Exhibit 10.5 - Filed by newsfilecorp.com

Exhibit 10.5 

NON-EMPLOYEE DIRECTOR AGREEMENT 

This Non-Employee Director
Agreement is made effective as of [ ] (the “Agreement”), between Net 1 UEPS
Technologies, Inc., a Florida corporation (the “Company”), and [ ] (“Director”).

WHEREAS, it is essential to the
Company to retain and attract as directors the most capable persons available to
serve on the board of directors of the Company (the “Board”); and 

WHEREAS, the Company believes
that Director possesses the necessary qualifications and abilities to serve as a
director of the Company and to perform the functions and meet the Company’s
needs related to its Board, 

NOW, THEREFORE, in consideration
of the mutual promises contained herein, the benefits to be derived by each
party hereunder and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows: 

1.    
Service as Director. Director will serve as a director of the Company and
perform all duties as a director of the Company, including without limitation
(a) attending meetings of the Board, (b) serving on one or more committees of
the Board (each a “Committee”) and attending meetings of each Committee of which
Director is a member, and (c) using reasonable efforts to promote the business
of the Company. The Company currently intends to hold at least one regular
meeting of the Board and each Committee each quarter, together with additional
meetings of the Board and Committees as may be required by the business and
affairs of the Company. In fulfilling his responsibilities as a director of the
Company, Director agrees that he will act in good faith, with the care an
ordinarily prudent person in a like position would exercise under similar
circumstances, and in a manner he reasonably believes to be in the best
interests of the Company. Director agrees to abide by the policies and
procedures of the Company, including the Company’s insider trading policy. 

2.    
Compensation and Expenses. 

(a)    
Board Compensation. For the services provided to the Company as a
director, the Director will be entitled to compensation as determined by the
Board from time to time. 

(b)    
  Expenses. The Company will reimburse Director in accordance with the
non-employee director expense policy attached hereto as Exhibit A. 

(c)    
  Other Benefits. The Board (or its designated Committee) may from time to
time authorize additional compensation and benefits for Director, including
additional compensation for service as chairman of a Committee and awards under
any stock incentive, stock option, stock compensation or long-term incentive
plan of the Company, including, without limitation, the Company’s Amended and
Restated 2015 Stock Incentive Plan or any other plan that may later be
established by the Company. 

3.    
Director and Officer Liability Insurance. The Company shall maintain an
insurance policy or policies providing directors’ and officers’ liability
insurance, and Director shall be covered by such policy or policies, in
accordance with its or their terms, to the maximum extent of the coverage
available for any of the Company’s directors or officers. At a minimum, such
coverage shall consist of an aggregate of at least $35,000,000, comprised of
$20,000,000 in traditional A/B/C coverage and $15,000,000 in Side-A excess
difference-in-conditions coverage with a retention of $350,000. The Company
shall maintain such insurance coverage for Director for at least six years after
such time that Director ceases to be a member of the Board.

4.    
Limitation of Liability; Right to Indemnification. Director shall be
entitled to indemnification by the Company under the terms of an indemnification
agreement, attached hereto as Exhibit B (the “Indemnification
Agreement”). 

5.    
Amendments and Waiver. No supplement, modification or amendment of this
Agreement will be binding unless executed in writing by both parties. No waiver
of any provision of this Agreement on a particular occasion will be deemed or
will constitute a waiver of that provision on a subsequent occasion or a waiver
of any other provision of this Agreement. 

6.    
Binding Effect. This Agreement will be binding upon and inure to the
benefit of and be enforceable by the parties and their respective successors and
assigns. 

7.    
Severability. The provisions of this Agreement are severable, and any
provision of this Agreement that is held by a court of competent jurisdiction to
be invalid, void, or otherwise unenforceable in any respect will not affect the
validity or enforceability of any other provision of this Agreement. 

8.    
Governing Law. This Agreement will be governed by and construed and
enforced in accordance with the laws of the State of Florida applicable to
contracts made and to be performed in that state without giving effect to the
principles of conflicts of laws. 

9.    
Entire Agreement. This Agreement and the Indemnification Agreement
constitute the entire understanding between the parties with respect to the
subject matter hereof, superseding all negotiations, prior discussions and prior
agreements and understanding relating to such subject matter. 

10.    
Miscellaneous. This Agreement may be executed by the Company and Director
in any number of counterparts, each of which shall be deemed an original
instrument, but all of which together shall constitute but one and the same
instrument. A signed copy of this Agreement transmitted by facsimile, email or
other means of electronic transmission shall be deemed to have the same legal
effect as delivery of an original executed copy of this Agreement for all
purposes. Director acknowledges that this Agreement does not constitute a
contract of employment and does not imply that the Company will continue his
service as a director for any period of time. 

[Signature page follows.] 

IN WITNESS WHEREOF, the parties have executed this Agreement as
of the date shown above. 

Net 1 UEPS Technologies, Inc. 

	By: 	 	 
	Name: 	[  ]  	
	Title:    	[  ]  	

	 	 
	[ ] 	 

Exhibit A 

Expense Policy 

NET 1 UEPS TECHNOLOGIES, INC. (“Net1”)

NON-EMPLOYEE DIRECTOR (“NED”) EXPENSE POLICY

When travelling on Net1 business, NEDs of Net1 will be entitled
to be reimbursed for all expenses necessarily incurred specifically: 

	 	• 	
      First or business class air travel (at the election of
      the director). 

	 	 	
       

	 	• 	
      Single room hotel accommodation and reasonable extras
      (three to five star at the election of the NED). 

	 	 	
       

	 	• 	
      Meals and reasonable incidental expenditure. 

	 	 	
       

	 	• 	
      Other travel costs (car hire, trains, taxis, etc).
  

The above policy applies to NEDs for a maximum of three nights
per single day board meeting with or without a board dinner the night before or
after, and four nights if there are two days of meetings. 

A summary schedule of expenditure by each NED will be tabled
annually in August for review by the Nominating and Corporate Governance
Committee. 

Approved 
May 3rd, 2017

A-1 

Exhibit B 

Indemnification Agreement 

(see attached)Net 1 UEPS Technologies, Inc.: Exhibit 10.66 - Filed by newsfilecorp.com

Exhibit 10.66

	 	 	 
	 	ADDITIONAL SUBSCRIPTION AGREEMENT 	 
	 	 	 

dated 

23 JUNE 2017 

among 

NET 1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY LIMITED

and 

AJD HOLDINGS PROPRIETARY LIMITED 

and 

RICHMARK HOLDINGS PROPRIETARY LIMITED 

in relation to and including as a party, 

DNI - 4PL CONTRACTS PROPRIETARY LIMITED 

 

Baker & McKenzie 
1 Commerce Square

39 Rivonia Road 
Sandhurst, Sandton 
Johannesburg

South Africa 
www.bakermckenzie.com 

Table of contents 

	1. 	INTERPRETATION 	3 
	 	 	 
	2. 	IMPLEMENTATION 	5
    
	 	 	 
	3. 	CONDITION
      PRECEDENT 	5
    
	 	 	 
	4. 	SUBSCRIPTION AND SETTLEMENT BY NET 1 	5
    
	 	 	 
	5. 	CALCULATION OF THE SUBSCRIPTION PRICE 	6
    
	 	 	 
	6. 	MEASUREMENT ACCOUNTS 	6
    
	 	 	 
	7. 	PAYMENT 	8
    
	 	 	 
	8. 	CLOSING 	8
    
	 	 	 
	9. 	WARRANTIES 	8
    
	 	 	 
	10. 	CONFIDENTIALITY 	8
    
	 	 	 
	11. 	DOMICILIUM
      AND NOTICES 	9
    
	 	 	 
	12. 	BREACH
      	9
    
	 	 	 
	13. 	ARBITRATION 	9
    
	 	 	 
	14. 	GENERAL 	9
    
	 	 	 
	15. 	COSTS
      	9
    

2 

ADDITIONAL SUBSCRIPTION AGREEMENT 

This Agreement is dated 23 June 2017 

between 

NET 1 APPLIED TECHNOLOGIES SOUTH AFRICA PROPRIETARY
LIMITED; 

AJD HOLDINGS PROPRIETARY LIMITED; 

RICHMARK HOLDING PROPRIETARY LIMITED; and 

DNI - 4PL CONTRACTS PROPRIETARY LIMITED.

	1. 	
      INTERPRETATION

	 	 
	1.1 	
      This Agreement shall be interpreted in accordance with
      clause 1 of the Framework Agreement (as defined below).

	 	 
	1.2 	
      Any defined terms in this Agreement not defined in clause
      1.3 below shall bear the meaning assigned to them in clause 1.2 of the
      Framework Agreement.

	 	 
	1.3 	
      In this Agreement, the following terms shall bear the
      meanings assigned to them below and cognate expressions shall bear
      corresponding meanings:

	 	(a) 	
      Agreement – this additional subscription agreement
      together with its annexures;

	 	 	 
	 	(b) 	
      Auditors - the auditors of the Company;

	 	 	 
	 	(c) 	
      Average PBT - the average PBT in respect of the
      Measurement Period as determined by solving for "A" in the following
      formula:

A = (B + C) ÷ 2 

B     means the
2018 PBT; 

C     means the
2019 PBT; 

	 	(d) 	
      Condition Precedent - the suspensive conditions
      set out in clause 3.1;

	 	 	 
	 	(e) 	
      Extraordinary Items - material items possessing a
      high degree of abnormality which arise from events or transactions that
      fall outside the ordinary activities of the Company or any of its
      subsidiaries, being non-recurring and non-trading items, including (for
      the avoidance of doubt) income, expenditure items accounted for during the
      financial year under review in respect of any prior financial year and
      which shall further include any profit or loss made on the disposal or
      acquisition of any fixed assets, or operations or business or investments
      and any operations and/or business which have been discontinued or
      sold;

	 	 	 
	 	(f) 	
      Framework Agreement - the framework agreement
      entered into among Net 1, Gain, AJD Holdings, Richmark and the Company on
      the Signature Date;

	 	 	 
	 	(g) 	
      Gain - Peter Kennedy Gain, identity number
    xxx;

	 	 	 
	 	(h) 	
      Group – the Company and its subsidiaries, and
      "Group Company" shall mean any of them;

	 	 	 
	 	(i) 	
      IFRS - International Financial Reporting Standards
      as issued by the Board of the International Accounting Standards Committee
      from time to time;

3 

	 	(j) 	
      Measurement Accounts – the 2018 Financial
      Statements and the 2019 Financial Statements;

	 	 	 
	 	(k) 	
      Measurement Period - the period commencing on 1
      July 2017 and ending 30 June 2019;

	 	 	 
	 	(l) 	
      Net 1 - Net 1 Applied Technologies South Africa
      Proprietary Limited, a limited liability private company duly incorporated
      in accordance with the laws of RSA with registration number
      2002/031446/07;

	 	 	 
	 	(m) 	
      PBT - the attributable profits before tax of the
      Company, as determined in accordance with IFRS and with reference to the
      Measurement Accounts, provided that for purposes of determining such
      PBT:

	 	(i) 	
      the PBT shall be normalised to exclude:

	 	 	 	 
	 		(A) 	
      any Extraordinary Items, before any tax
affects;

	 	 	 	 
	 		(B) 	
      the Company's share of profits and losses from its
      shareholding in International Tower Corporation Proprietary Limited;
      and

	 	 	 	 
	 	(ii) 	
      the PBT shall be normalised to include:

	 	 	 	 
	 		(A) 	
      up to 50% of the profits or losses, as the case may be,
      generated by Evercomm Proprietary Limited shall be included in the
      calculation;

	 	 	 	 
	 		(B) 	
      100% of the profit before tax of The Starterpack Company
      Proprietary Limited;

Prime Rate - the publicly
quoted basic rate of interest (percent per annum, calculate daily, compounded
monthly in arrear and calculated on a 365 day year) from time to time published
by Investec Bank Limited as its prime overdraft lending rate, as certified by
any manager of such bank, or his delegee, whose appointment and designation need
not be provided, which shall in the absence of manifest or clerical error be
prima facie proof thereof; 

	 	(n) 	
      Signature Date – the date of signature of this
      Agreement by the last of the Parties;

	 	 	 
	 	(o) 	
      Shareholders' Proportions - means, in respect
      of:

	 	(i) 	
  AJD Holdings - and

	 	 	 
	 	(ii) 	
  Richmark -

	 	(p) 	
      Subscription Date – 5th Business Day
      after the Subscription Price Determination Date;

	 	 	 
	 	(q) 	
      Subscription Price - means the amount payable by
      Net 1 to the Company in terms of clause 5.2;

	 	 	 
	 	(r) 	
      Subscription Price Determination Date – the date
      on which the 2018 PBT, the 2019 PBT and the Average PBT have been agreed
      to by Net 1 in terms of clause 6.6 or finally determined in terms of
      clause 6.9, as the case may be;

	 	 	 
	 	(s) 	
      Subscription Shares - means, 1 ordinary A share,
      to be issued by the Company to Net 1;

	 	 	 
	 	(t) 	
      2018 PBT – PBT determined with reference to the
      2018 Financial Statements;

4 

	 	(u) 	
      2018 Financial Statements – the signed,
      unqualified, consolidated audited financial statements of the Company in
      respect of the financial period from 1 July 2017 to 30 June
2018;

	 	 	 
	 	(v) 	
      2019 PBT – PBT determined with reference to the
      2019 Financial Statements;

	 	 	 
	 	(w) 	
      2019 Financial Statements – the signed,
      unqualified, consolidated audited financial statements of the Company in
      respect of the financial period from 1 July 2018 to 30 June
2019;

	 	 	 
	 	(x) 	
      Warrantors - means Richmark and AJD
  Holdings

	2. 	
      IMPLEMENTATION

	 	 
		
      This Agreement constitutes Step 4 of the Proposed
      Transaction, as provided for in clause 2.2(d) of the Framework
      Agreement

	 	 
	3. 	
      CONDITION PRECEDENT

	 	 
	3.1 	
      This Agreement (other than the provisions of clause 1,
      this clause 3, and clauses 9 to 15, by which the Parties shall be bound
      and remain bound from the Signature Date) is subject to the fulfilment of
      the following conditions precedent, namely that on or before 31 December
      2017:

	 	(a) 	
      the Framework Agreement has been entered into and become
      unconditional in accordance with its terms (other than in respect of any
      condition which requires this Agreement to become
unconditional);

	 	 	 
	 	(b) 	
      the Company has provided Net 1 with written confirmation
      that there has been no breach of any of the Title Warranties or Capacity
      and Authority Warranties (as defined in the Subscription Agreement);
      and

	 	 	 
	 	(c) 	
      Net 1 has not terminated the Subscription Agreement in
      terms of clause 10 of the Subscription
Agreement.

	3.2 	
      If any of the Conditions Precedent are not fulfilled on
      or before the date prescribed for fulfilment thereof in 3.1 (or such later
      date or dates as may be agreed in writing between the Parties)
  then:

	 	(a) 	
      this whole Agreement (other than the provisions of clause
      1, clause 3 and clauses 9 to 15, by which the Parties shall remain bound)
      shall be of no force or effect;

	 	 	 
	 	(b) 	
      the Parties shall be restored as near as possible to the
      positions in which they would have been had this Agreement not been
      entered into; and

	 	 	 
	 	(c) 	
      no Party shall have any claim against the others in terms
      of this Agreement.

	4. 	
      SUBSCRIPTION AND SETTLEMENT BY NET 1

	 	 
	4.1 	
      On the Subscription Date, Net 1 shall subscribe for the
      Subscription Share, at the Subscription Price.

	 	 
	4.2 	
      The Subscription Price shall be settled in full by Net 1
      in cash on the Subscription Date as provided for in 7.1 below.

	 	 
	4.3 	
      It is hereby recorded that the Subscription Price was
      negotiated and ultimately agreed to with reference to the earnings of the
      Company.

	 	 
	4.4 	
      On the Subscription Date and against payment of the
      Subscription Price as provided for in 7.1, all risk in and benefits
      attaching to the Subscription Share shall vest in Net
1.

5 

	5. 	
      CALCULATION OF THE SUBSCRIPTION PRICE

	 	 
	5.1 	
      Net 1 shall subscribe for the Subscription Share, for the
      Subscription Price which shall be calculated in terms of clause 5.2
      below.

	 	 
	5.2 	
      Determination of the Subscription
  Price:

	 	(a) 	
      In the event that the Average PBT is less than ZAR
      303,000,000, then the Subscription Price shall be ZAR 21.

	 	 	 
	 	(b) 	
      In the event that the Average PBT is equal to or greater
      than ZAR 303,000,000 but equal to or less than ZAR 361,000,000, then the
      Subscription Price shall be determined by solving for "D" in the following
      formula:

D = (E - ZAR 303,000,000) x 3.8 

Where 

E     means the
Average PBT. 

	 	(c) 	
      In the event that the Average PBT is greater than ZAR
      361,000,000, then the Subscription Price shall be determined by solving
      for "X" in the following formula:

X = D + (Z x 3.1) 

Where: 

D     bears the
same meaning ascribed thereto in 5.2(b); and 

Z     means the
Average PBT minus ZAR 361,000,000. 

Notwithstanding the aforegoing, X
shall be capped at ZAR 360,000,000.

	6. 	
      MEASUREMENT ACCOUNTS

	 	 
	6.1 	
      The Company shall procure the preparation of the
      Measurement Accounts and the audit thereof by the Auditors as soon as
      reasonably possible but in any event within 90 days after the end of the
      Measurement Period. In addition, the Company shall procure that the
      Auditors extract or calculate (i) the 2018 PBT from the 2018 Financial
      Statements, (ii) the 2019 PBT from the 2019 Financial Statements and (iii)
      the Average PBT.

	 	 
	6.2 	
      The Company shall deliver the Measurement Accounts to Net
      1 as soon as they are available.

	 	 
	6.3 	
      The Company shall use all reasonable endeavours to
      procure that the Auditors prepare the Measurement
  Accounts:

	 	(a) 	
      in conformity with the requirements of the Companies Act
      and in accordance with IFRS; and

	 	 	 
	 	(b) 	
      save as expressly stated therein as to method and effect,
      on a basis consistent with the basis upon which previous consolidated
      audited financial statements of the Group were
prepared.

	6.4 	
      Net 1 shall, within 10 Business Days after delivery of
      the Measurement Accounts (Objection Period), review same in
      conjunction with its professional advisors and notify the Company in
      writing if it accepts the Measurement Accounts and the calculation of the
      2018 PBT, the 2019 PBT and the Average PBT (in which case the provisions
      of clause 6.6 shall apply) or if it wishes to raise an objection (in which
      case the provisions of clause 6.5 and clauses 6.7 to 6.9 (both inclusive)
      shall apply).

6 

	6.5 	
      During the Objection Period, the Company shall ensure
      that Net 1 and its professional advisors are provided with access to the
      Auditors for the purposes of reviewing and discussing the audit work
      papers of the Auditors in preparing the Measurement Accounts and the
      extraction or calculation of the 2018 PBT, the 2019 PBT and the Average
      PBT.

	 	 
	6.6 	
      In the event that Net 1 advises the Company that it
      accepts the Measurement Accounts and the calculation of the 2018 PBT, the
      2019 PBT and the Average PBT, the Measurement Accounts and the calculation
      of the 2018 PBT, 2019 PBT and the Average PBT shall be final and binding
      on the Parties for all purposes under this Agreement.

	 	 
	6.7 	
      Should any objection be raised by Net 1 in respect of the
      Measurement Accounts and/or the calculation of 2018 PBT, 2019 PBT and/or
      the Average PBT, by way of a written notice to that effect to the Company
      (Dispute Notice) within the Objection Period, then the difference
      or dispute shall be submitted for determination as follows
  –

	 	(a) 	
      the difference or dispute shall be decided on by an
      independent investment bank or one of KPMG, Deloitte,
      PricewaterhouseCoopers or Ernst & Young, agreed upon between the
      Parties within 10 days after the Dispute Notice is delivered, failing such
      agreement, to be nominated by the chairperson or like officeholder for the
      time being of the South African Institute of Chartered Accountants, or its
      successor-in-title or, failing that body, by the Arbitration Foundation of
      South Africa (Expert);

	 	 	 
	 	(b) 	
      the Expert shall:

	 	(i) 	
      in making his determination, act as an expert and not as
      an arbitrator. However, the Company and Net 1 will be afforded a
      reasonable opportunity to make representations to the Expert and shall
      provide such information as may be required by the Expert in accordance
      with the procedures, and within the time periods, determined by the
      Expert, provided that the Expert shall be entitled to make his decision
      whether or not such representations were submitted to him; and

	 	 	 
	 	(ii) 	
      hear the matter informally and as soon as possible, it
      being agreed that the Parties shall use their commercially reasonable
      endeavours to procure that the Expert makes his determination within 30
      days after the date upon which the matter was referred to the
    Expert;

	 	 	 
	 	(iii) 	
      the Expert's decision as to any matter referred to him
      for determination shall, in the absence of manifest error, be final and
      binding in all respects on the Parties; and

	 	 	 
	 	(iv) 	
      the fees and expenses of the Expert shall be borne and
      paid as the Expert shall direct (or in the absence of any such direction,
      shall be paid by the Company).

	6.8 	
      If:

	 	(a) 	
      all of Net 1 objections are rejected by the Expert, then
      the Measurement Accounts, the 2018 PBT, the 2019 PBT and the Average PBT
      as submitted to the Expert shall be final and binding on the Parties for
      all purposes of this Agreement (save for any manifest error in
      calculation); or

	 	 	 
	 	(b) 	
      any of Net 1's objections are accepted by the Expert,
      then the Measurement Accounts, the 2018 PBT, the 2019 PBT and the Average
      PBT, as amended by the Expert in response to the objections, shall be
      final and binding on the Parties for all purposes of this Agreement (save
      for any manifest error in calculation).

7 

	6.9 	
      Once the Expert has given his ruling on all matters
      raised in the Dispute Notice, the Measurement Accounts, the 2018 PBT, the
      2019 PBT and the Average PBT shall, to the extent necessary, be amended by
      the Expert as part of his ruling to reflect all matters included in that
      ruling and shall then be regarded as agreed for all purposes of this
      Agreement.

	 	 
	7. 	
      PAYMENT

	 	 
	7.1 	
      On the Subscription Date, Net 1 shall make payment of the
      Subscription Price by way of an electronic transfer into a bank account
      nominated by the Company for this purpose in writing, which payment shall
      be in full and final settlement of Net 1's obligations to make payment of
      the Subscription Price to the Company.

	 	 
	7.2 	
      Upon receipt of the Subscription Price, subject to
      section 46 of the Companies Act, the Company shall distribute dividends in
      an amount of the Subscription Price to the Warrantors, in the
      Shareholders' Proportions.

	 	 
	7.3 	
      If for whatsoever reason Net 1 fails and/or neglects to
      pay on the Subscription Date, the whole or any portion of the Subscription
      Price, taking into account interest and other adjustments thereto under
      this Agreement, then and in such event, in addition to any other remedies
      to which the aggrieved Party is entitled, penalty interest shall accrue
      thereon at the Prime Rate plus 2% per annum, calculated from its due date
      for payment, to date of actual payment.

	 	 
	8. 	
      CLOSING

	 	 
	8.1 	
      On the Subscription Date, representatives of the Parties
      shall meet at Richmark's offices, Capital Hill Building, 6 Benmore Road,
      Sandton, 2196 or such other date and/or time as may be agreed by the
      Parties in writing.

	 	 
	8.2 	
      At that meeting, and in respect of the subscription as
      herein contemplated:

	 	(a) 	
      Net 1 shall discharge its obligations in terms of the
      Subscription Price, as provided for in clause 7.1 above;

	 	 	 
	 	(b) 	
      the Company shall, on receipt of the proof of payment of
      the Subscription Price as contemplated in clause
7:

	 	(i) 	
      allot and issue the Subscription Share to Net 1 and
      deliver share certificates in respect of the Subscription Share to Net
      1;

	 	 	 
	 	(ii) 	
      procure that Net 1 is recorded as a shareholder in the
      securities register of the Company and deliver an extract of the
      securities register of the Company to Net 1 updated to reflect Net 1 as
      the holder of the Subscription Share; and

	8.3 	
      The Parties may however dispense with a formal meeting as
      contemplated in this clause 8 and instead arrange for completion of such
      matters in such manner as may be specifically agreed, in writing
      (including email), to be convenient.

	 	 
	9. 	
      WARRANTIES

	 	 
		
      This Agreement is subject to the warranties provided for
      in clause 7 of the Framework Agreement and clauses 2 and 3 of Annexure A
      of the Subscription Agreement, mutatis mutandis.

	 	 
	10. 	
      CONFIDENTIALITY

	 	 
		
      This Agreement is subject to the confidentiality
      provisions provided in clause 9 of the Framework
  Agreement.

8 

	11. 	
      DOMICILIUM AND NOTICES

	 	 
		
      The Parties have provided for domicilium citandi et
      executandi for all purposes of this Agreement in terms of clause 11 of
      the Framework Agreement.

	 	 
	12. 	
      BREACH

	 	 
		
      This Agreement is subject to the breach provisions
      provided in clause 12 of the Framework Agreement.

	 	 
	13. 	
      ARBITRATION

	 	 
		
      Any dispute arising from or in connection with this
      Agreement shall be resolved in accordance with clause 13 of the Framework
      Agreement.

	 	 
	14. 	
      GENERAL

	 	 
		
      This Agreement shall be subject to the general provisions
      provided in clause 14 of the Framework Agreement.

	 	 
	15. 	
      COSTS

	 	 
		
      Any costs relating to the negotiation, preparation and
      drawing of this Agreement shall be dealt with in terms of clause 15 of the
      Framework Agreement

9 

Execution 

Signed at Rosebank on 23 June 2017

		Net 1 Applied Technologies
      Proprietary Limited 
	  	  
	  	/s/ Herman Kotzé 
	  	  
	  	  
	  	who warrants that he/she is duly 
	  	authorised hereto 
	  	  
	  	Name: Herman Kotzé 
	  	Capacity: Director 

10 

Signed at Sandton on 23 June 2017

	 	DNI - 4PL Contracts Proprietary Limited
    
	  	  
	 	 
	  	/s/ A.J. Dunn 
	 	 
	  	who warrants that he/she is duly 
	  	authorised hereto 
	 	 
	  	Name: A.J Dunn 
	  	Capacity: CEO 

11 

Signed at Sandton on 23 June 2017

		AJD Holdings Proprietary Limited 
	  	  
	  	  
	  	  
	  	/s/
      A.J. Dunn 
	  	who warrants that he/she is duly 
	  	authorised hereto 
	  	  
	  	Name: A.J Dunn 
	  	Capacity: Director 

12 

Signed at Sandton on 23 June 2017

	 	Richmark Holdings Proprietary Limited
  
	  	  
	  	  
	  	  
	  	/s/
      A.J. Dunn 
	  	who warrants that he/she is duly 
	  	authorised hereto 
	  	  
	  	Name: A.J. Dunn 
	  	Capacity: CEO 

13

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