Document:

Exhibit 10.35

    

  

   

  

  
    

    IBEX HOLDINGS LIMITED

     

    UK SUB-PLAN OF THE 2018 RESTRICTED SHARE PLAN

     

    	

          	1.	Adoption of UK Sub-Plan

     

    	

          	1.1	Ibex Holdings Limited, a company incorporated in Bermuda ("Company") has established the 2018 Restricted Share Plan ("2018 Plan") and is now establishing a
            UK Sub-Plan to the 2018 Plan ("UK Sub-Plan"), the rules of which ("Rules") are set out in this document. The Plan (which is attached to the Rules) shall apply to the UK Sub-Plan subject to the additional restrictions and
            amendments specified below.

     

    	

          	1.2	References in these Rules to Sections are to Sections of the Plan.

     

    	

          	1.3	Restricted Shares awarded under the UK Sub-Plan are not intended to qualify for or otherwise provide any beneficial tax treatment to Participants.

     

    	

          	2.	Purposes of the UK Sub-Plan

     

    	

          	2.1	The purpose of the UK Sub-Plan is to award Restricted Shares to Eligible Employees (as defined below) for commercial reasons in order to recruit or retain Eligible
            Employees and not as part of a scheme or arrangement the main purpose, or one of the main purposes, of which is the avoidance of tax.

     

    	

          	2.2	Restricted Share awards are granted pursuant to an "employees' share scheme" for the purposes of the Financial Services and Markets Act 2000.

     

    	

          	3.	Definitions

     

    Defined terms set out in the 2018 Plan apply to the UK Sub-Plan, with the following additions:

     

    (i)                   "Control" (for the purposes of
      the definition of "Subsidiary", below) has the meaning contained in section 719 of ITEPA.

     

    (ii)                  "Eligible Employee" means an
      individual who is an employee of the Company or any Subsidiary and is resident in the United Kingdom for tax purposes;

     

    (iii)                "HMRC" means the United
      Kingdom HM Revenue & Customs;

     

    (iv)                 "ITEPA" means the Income Tax
      (Earnings and Pensions) Act 2003; and

     

    (v)                  "Subsidiary" means a company
      (wherever incorporated) which for the time being is under the Control of the Company.

     

    	

          	4.	Eligibility

     

    Restricted Share awards granted under the UK Sub-Plan may only be granted to Eligible Employees and not to any other person who is not
      also an Eligible Employee on the date of grant.

     

    
      
        
 

    

    
    	

          	5.	Tax withholding

     

    	

          	5.1	In addition to the provisions of Section 7(e), the Participant shall be accountable for any income tax and, subject to the following provisions, national insurance
            liability which is chargeable on any assessable income deriving from the acquisition, holding or disposal of Restricted Shares. In respect of such assessable income the Participant shall indemnify the Company and (at the direction of the
            Company) any Subsidiary which is or may be treated as the employer of the Participant in respect of the following (together, the "Tax Liabilities"):

     

    	

          	(a)	any income tax liability which falls to be paid to HMRC by the Company (or the relevant employing Subsidiary) under the PAYE system as it applies to income tax under ITEPA
            and the PAYE regulations referred to in it; and

     

    	

          	(b)	any national insurance liability which falls to be paid to HMRC by the Company (or the relevant employing Subsidiary) under the PAYE system as it applies for national
            insurance purposes under the Social Security Contributions and Benefits Act 1992 and regulations referred to in it, such national insurance liability being the aggregate of:

    	

          	(i)	all the employee's primary Class 1 national insurance contributions; and

    	

          	(ii)	all the employer's secondary Class 1 national insurance contributions.

     

    	

          	5.2	Pursuant to the indemnity referred to in Rule 5.1, the Participant shall make such arrangements as the Company requires to meet the cost of the Tax Liabilities, including
            at the direction of the Company any of the following:

     

    	

          	(a)	making a cash payment of an appropriate amount to the relevant company whether by cheque, banker's draft or deduction from salary in time to enable the employing company
            to remit such amount to HMRC before the 14th day following the end of the month in which the event giving rise to the Tax Liabilities occurred; and/or

     

    	

          	(b)	appointing the Company as agent and/or attorney for the sale of sufficient Restricted Shares acquired to cover the Tax Liabilities and authorising the payment to the
            relevant company of the appropriate amount (including all reasonable fees, commissions and expenses incurred by the relevant company in relation to such sale) out of the net proceeds of sale of the Restricted Shares; and/or

     

    	

          	(c)	(if lawful to do so) entering into an election whereby the employer's liability for secondary Class 1 national insurance contributions is transferred to the Participant on
            terms set out in the election and approved in advance by HMRC.

     

    	

          	6.	Notification to HMRC

     

    The Company shall procure that the relevant Subsidiary employing the Participant at the date of grant of the Restricted Share award shall carry out all necessary filings with HMRC with
      respect to the acquisition of Restricted Shares by Participants, including submitting an annual return to HMRC within the statutory timeframe for making such submission.

     

    	

          	7.	Section 431(1) election

     

    Where Shares to be acquired are considered to be "restricted securities" for the purposes of ITEPA (such determination to be at the
      sole discretion of the Company), it is a condition of the acquisition of Restricted Shares that the Participant, if so directed by the Company, enters into a joint election with the relevant Subsidiary employing the Participant pursuant to section
      431(1) of ITEPA.

     

    
      - 2 -

      
        
 

    

    	

          	8.	Employment rights

     

    	

          	8.1	A Participant's terms of employment shall not be affected in any way by his participation in the UK Sub-Plan, which shall not form part of such terms (either expressly or
            impliedly) nor in any way entitle him to take into account such participation in calculating any compensation or damages on the termination of his employment for whatever reason (whether lawful or unlawful) which might otherwise be payable to
            him, and the Participant's terms of employment shall be deemed to be varied accordingly.

     

    	

          	8.2	The UK Sub-Plan is entirely discretionary and may be suspended or terminated by the Board at any time for any reason. Participation in the UK Sub-Plan is entirely
            discretionary and does not create any contractual or other right to receive future grants of Restricted Share awards or other awards, or benefits in lieu of awards. All determinations with respect to future grants of Restricted Share awards
            will be at the sole discretion of the Board.

     

    	

          	8.3	Rights under the UK Sub-Plan are not pensionable.

     

    	

          	9.	Data privacy

     

    By entering into an award agreement, a Participant permits the Company and any Subsidiary to obtain, retain and process information
      relating to that Participant in accordance with the Company's privacy notice made available to the Participant.

     

     

     

    Adopted by the Board of Directors of

     

    Ibex Holdings Limited on

     

    ........................................... 2018

     

    - 3 -Exhibit 10.37

   

  
    	 	
            IBEX Holdings Limited

            Crawford House

            50 Cedar Avenue

            Hamilton HM 11, Bermuda

          

  

   

  [date]

  
    PERSONAL & CONFIDENTIAL

    

    

    

    

    Dear____________,

    

    

    We are very pleased to extend to you this letter agreement (“Agreement”) inviting you to join as a Director (“Director”) on the Board of
      Directors of IBEX Holdings Limited, an entity organized under the laws of Bermuda and having a registered address at Crawford House, 50 Cedar Avenue, Hamilton HM 11, Bermuda (the “Company”).  We believe that
      your skills, expertise, and knowledge will prove very helpful to the Company’s progress, and we are excited about the opportunities that this agreement offers you and the Company.

    

    

    Subject to your execution of this Agreement, your membership on the Board of Directors will commence upon your formal election to the Board of Directors of the Company (the “Board”)
      and upon the receipt of any regulatory approvals required by the Bermuda Monetary Authority, which approval will require that you submit certain forms and identifications that we will forward to you for completion.

    

    

    As a Director of the Company, you may be called upon to meet for physical or telephonic meetings of the Board of Directors of the Company, as well as any committee meetings that you may be appointed to.  It is our
      expectation that you will participate in those meetings to the extent possible.  You will also be called upon at times to provide various input, approvals, or advice, and we would greatly appreciate if you can make yourself available to provide what
      is requested in a prompt fashion.  You shall provide your services as a Director in accordance with, and subject to, the Company’s organizational documents, as such may be amended from time to time, as well as any laws and regulations that now or may
      later apply, such as the Sarbanes-Oxley Act of 2002.  In addition, to protect the business of the Company, upon your formal appointment to the Board of Directors of the Company, you will be bound by the covenants set forth in Exhibit A hereto.   By
      accepting your appointment as a Director of the Company, you also agree to the Direct Dialogue Program attached hereto as Exhibit B.

    

    

    As compensation for your services as a Director, the Company will pay you a monthly fee at the annualized rate of $_______ per year.  You will cease earning such compensation in the event that your position as a
      Director is terminated for any reason.  In addition, the Company will reimburse you for any reasonable expenses incurred by you in connection with your services as a Director of the Company in accordance with the Company’s established policies.

    
      
        

    

    [Additionally, in connection with your service as a Director, we will recommend to the Board that you be granted a stock option entitling you to purchase _______ shares of the Company’s common stock at a strike price
      as determined by the Board (currently representing approximately __ basis points of the fully diluted shareholding of the Company). We will recommend that the shares become vested over the course of two years in equal quarter-year increments.  Any
      stock option granted to you will be subject to the terms and conditions of the Company’s stock option plan and your execution of the exercise agreement and notice of grant evidencing the option (collectively, the “Plan
        Documents”).  Upon the termination of your directorship for any reason, vesting of any granted stock options shall cease and any unvested portions shall then expire; however, subject to the terms of the Plan Documents, you shall have 3
      months in which to exercise any option that has vested as of the date of such termination, after which the options shall be void].

    

    

    Subject to requirements and restrictions set forth in the Bermuda Companies Act, any other applicable laws, and the Bye-Laws of the Company, the Company shall indemnify you for any losses, judgments, costs, charges,
      interest, penalties, and expenses (including but not limited to reasonable attorney fees) incurred by you in relation to any Claim brought against you, provided that the Company shall not be required to indemnify you for any Claim to the extent that
      it arises out of or relates to a material breach of this Agreement by you, or arises out of or relates to your commission of fraud or dishonesty. As used herein, “Claim” means any action, claim, investigation,
      or proceeding (whether civil or criminal) against or otherwise involving you in your capacity as a Director of the Company.  The Company shall, at its option and unless it would constitute a conflict of interest (as determined in the Company’s
      reasonable discretion) have the right to select counsel and control the defense in relation to any Claim, and you shall not be permitted to settle any Claim without the Company’s prior written consent, which consent shall not be unreasonably withheld
      by the Company.  You agree to provide reasonable cooperation to the Company upon its request with respect to any Claim for which you seek indemnification hereunder.

    

    

    [Notwithstanding the provisions of this Agreement, while the Stockholder’s Agreement is in effect and not terminated, nothing in this Exhibit A or the Agreement shall preclude or otherwise in any way hinder you from
      also engaging in any commercial, employment, or other legal relationship with TRG, or otherwise directly or indirectly exercising, or assisting in the exercise of, any right granted to TRG pursuant to the Stockholders Agreement, unless such
      engagement by you violates any law, regulation, or order that is applicable to the Company.  As used herein, (i) “TRG” means The Resource Group International Limited, TRG Pakistan Limited, and all subsidiaries thereof with the exception of IBEX
      Holdings Limited and its subsidiaries; and (ii) “Stockholders Agreement” means the Stockholder’s Agreement dated as of September 15, 2017 entered into between Company and The Resource Group International Limited.]

    

    

    
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    In entering into this Agreement, each party represents and warrants that it is not subject to any agreement or understanding with any current or prior employer or business (or any other entity or person) which would in
      any manner preclude its performance under this Agreement.  This Agreement, together with all exhibits and the other documents referred to herein, constitutes the entire agreement between you and the Company concerning your Director relationship with
      the Company.  You and the Company agree that all understandings, oral agreements, and representations with respect to such Director relationship, whether made prior to or after your execution of this agreement, are void and/or are superseded by this
      Agreement.  This Agreement cannot be modified, changed, or amended, or assigned, except in a writing signed by you and the Company.  No waiver by the Company shall be effective unless set forth in a writing executed by an authorized Company
      representative.

    

    

    [signature page to follow]

    

    

    
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    We are enthusiastic over the prospect of retaining your skills, expertise, and knowledge at the Company, and we are hopeful that you will graciously accept our invitation to make a positive impact at the Company. 
      Please formally record your acceptance of this Agreement by signing the signature block below.  Please return one copy of the executed letter to the Company and keep the second copy for your records.

    

    

    	
            Sincerely,

          	 	 
	  	 	 
	
            IBEX Holdings Limited

          	 	
            Accepted & Agreed:

          
	  	 	 
	  	 	 
	
            By:

          	 	 	 

    

    

    

    

    

    

    
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    EXHIBIT A

    

    

    1.          Confidential Information.  Company may furnish Director with confidential information or relating to the business of Company and its affiliates, including but not limited to customer lists,
      algorithms, financial information, pricing, contracts, business methods, marketing plans, data, inventions, non-published patent applications, and compensation terms (the “Confidential Information”). Such
      information is the confidential information of Company regardless of the manner in which it is furnished to Director, whether in writing, orally, or electronically. Any notes or other written documents generated by Director that contain or reflect
      Confidential Information shall be deemed to be Company’s Confidential Information, including but not limited to any patentable or nonpatentable improvements or derivatives of the Company’s technology, whether made solely by Director or jointly with
      others (the “Improvements”). Confidential information does not include information that was (i) part of the public domain at the time of disclosure to Director or becomes part of the public domain, other than
      by a breach by Director of an obligation to maintain confidentiality; (ii) acquired by Director from a third party without an obligation of confidentiality; or (iii) approved for public release in writing by Company. Director will not use or disclose
      any Confidential Information without Company’s prior written consent, and shall use reasonable care and diligence in protecting the Confidential Information against unauthorized access, loss, or disclosure.  In the event of Director’s receipt of
      legal process requiring Director to disclose Confidential Information, Director shall provide Company with written notice of such within five days of Director’s receipt of the notice. In disclosing any Confidential Information in response to legal
      process, Director shall disclose only the Confidential Information that is legally required, and shall otherwise use best efforts to limit the disclosure of Confidential Information. If Director becomes aware of any misuse or improper disclosure of
      Confidential Information, Director shall immediately notify Company of such in writing.

    

    

    2.          Property Rights. Company will have the exclusive right to all proprietary information developed or created by Director in connection with the performance of her services, as well as information made
      by Director with the use of Confidential Information, including but not limited to Improvements, inventions, ideas, copyrights, customer lists, and compilations. Director hereby assigns all such proprietary rights to Company upon conception and
      agrees to provide, upon the request of Company or its designees, with reasonable assistance to perfect such rights.

    

    

    3.          Injunctive Relief and Specific Performance.  Director agrees that a breach of this Agreement may result in irreparable and continuing harm to Company for which there is no adequate remedy at law. 
      Director agrees that in the event of an actual, threatened, or intended breach of this Agreement by Director, Company will have the right to seek injunctive relief or specific performance in a court of law, and Director consents to the imposition of
      such relief, without the necessity of proof of actual damage, in order to prevent or restrain or restrain any such actual, threatened, or intended breach of this Agreement.

    
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    EXHIBIT B

    

       

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

  

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