LESAKA TECHNOLOGIES INC
EX-10.32
<DOCUMENT>
<TYPE>EX-10.32
<SEQUENCE>17
<FILENAME>ex1032.htm
<DESCRIPTION>EX-10.32
<TEXT>
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<div id="a3" style="position:absolute;font-family:&apos;Times New Roman&apos;;font-weight:bold;left:320.7px;top:96.3px;">AMENDMENT NO. 2 </div><div id="a9" style="position:absolute;font-family:&apos;Times New Roman&apos;;font-weight:bold;left:385.3px;top:114.7px;">TO </div><div id="a11" style="position:absolute;font-family:&apos;Times New Roman&apos;;font-weight:bold;left:282px;top:133.1px;">COOPERATION AGREEMENT </div><div id="a13" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:144px;top:167.5px;">This<div style="display:inline-block;width:6px">&#160;</div>Amendment<div style="display:inline-block;width:5.9px">&#160;</div>No. 2<div style="display:inline-block;width:6px">&#160;</div>(this<div style="display:inline-block;width:6px">&#160;</div>&#8220;Amendment&#8221;)<div style="display:inline-block;width:5.9px">&#160;</div>to<div style="display:inline-block;width:6.1px">&#160;</div>Cooperation<div style="display:inline-block;width:5.9px">&#160;</div>Agreement<div style="display:inline-block;width:6.1px">&#160;</div>dated<div style="display:inline-block;width:5.8px">&#160;</div>as<div style="display:inline-block;width:5.9px">&#160;</div>of </div><div id="a25" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:185.9px;">March 22, 2022, is by and between Net 1 UEPS Technologies, Inc., a Florida corporation (the </div><div id="a29" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:204.3px;">&#8220;Company&#8221;), and Value<div style="display:inline-block;width:7.2px">&#160;</div>Capital Partners (Pty) Ltd.<div style="display:inline-block;width:5.4px">&#160;</div>(Registration number 2016/242305/07),<div style="display:inline-block;width:5.4px">&#160;</div>a </div><div id="a38" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:222.7px;">South<div style="display:inline-block;width:5.4px">&#160;</div>African private<div style="display:inline-block;width:6.4px">&#160;</div>company<div style="display:inline-block;width:5.4px">&#160;</div>(&#8220;VCP,&#8221;<div style="display:inline-block;width:7.2px">&#160;</div>and together<div style="display:inline-block;width:6.4px">&#160;</div>with the<div style="display:inline-block;width:6.6px">&#160;</div>Company,<div style="display:inline-block;width:6.5px">&#160;</div>the &#8220;Parties,&#8221;<div style="display:inline-block;width:6.6px">&#160;</div>and </div><div id="a51" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:241.1px;">each, a &#8220;Party&#8221;). </div><div id="a57" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:358.6px;top:278.2px;">RECITALS </div><div id="a59" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:144px;top:315.2px;">WHEREAS,<div style="display:inline-block;width:8px">&#160;</div>the<div style="display:inline-block;width:8px">&#160;</div>Parties<div style="display:inline-block;width:8.1px">&#160;</div>have<div style="display:inline-block;width:8.1px">&#160;</div>entered<div style="display:inline-block;width:8px">&#160;</div>into<div style="display:inline-block;width:8.1px">&#160;</div>a<div style="display:inline-block;width:8.1px">&#160;</div>Cooperation<div style="display:inline-block;width:7.9px">&#160;</div>Agreement<div style="display:inline-block;width:8.1px">&#160;</div>dated<div style="display:inline-block;width:8.1px">&#160;</div>as<div style="display:inline-block;width:8.1px">&#160;</div>of </div><div id="a62" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:333.6px;">May 13, 2020, which was amended by Amendment No. 1 on<div style="display:inline-block;width:2.6px">&#160;</div>December 9, 2020 (as heretofore </div><div id="a69" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:352px;">amended,<div style="display:inline-block;width:5.8px">&#160;</div>amended<div 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Roman&apos;;left:144px;top:404.8px;">WHEREAS,<div style="display:inline-block;width:5.6px">&#160;</div>the<div style="display:inline-block;width:5.6px">&#160;</div>Parties<div style="display:inline-block;width:5.6px">&#160;</div>hereto<div style="display:inline-block;width:5.5px">&#160;</div>desire<div style="display:inline-block;width:5.6px">&#160;</div>to<div style="display:inline-block;width:5.6px">&#160;</div>amend<div style="display:inline-block;width:5.5px">&#160;</div>the<div style="display:inline-block;width:5.6px">&#160;</div>Agreement<div style="display:inline-block;width:5.6px">&#160;</div>to<div style="display:inline-block;width:5.7px">&#160;</div>(i)<div style="display:inline-block;width:5.6px">&#160;</div>permit<div style="display:inline-block;width:5.8px">&#160;</div>VCP<div style="display:inline-block;width:5.5px">&#160;</div>to </div><div id="a81" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:423.2px;">acquire the Company&#8217;s securities pursuant<div style="display:inline-block;width:2.6px">&#160;</div>to that certain<div style="display:inline-block;width:2.6px">&#160;</div>Securities Purchase Agreement dated </div><div id="a84" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:441.6px;">as of March 14,<div style="display:inline-block;width:5.7px">&#160;</div>2022, by and<div style="display:inline-block;width:5.4px">&#160;</div>among the Company,<div style="display:inline-block;width:6.3px">&#160;</div>Net1 Applied Technologies<div style="display:inline-block;width:6.4px">&#160;</div>South Africa </div><div id="a88" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:460px;">Proprietary Limited and VCP and (ii) modify certain standstill provisions related thereto. </div><div id="a98" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:144px;top:494.4px;">NOW,<div style="display:inline-block;width:6.5px">&#160;</div>THEREFORE, in<div style="display:inline-block;width:6.3px">&#160;</div>consideration of<div style="display:inline-block;width:6.1px">&#160;</div>the foregoing<div style="display:inline-block;width:6.2px">&#160;</div>and other<div style="display:inline-block;width:6.1px">&#160;</div>good and<div style="display:inline-block;width:6.3px">&#160;</div>valuable </div><div id="a99" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:512.8px;">consideration, the receipt and sufficiency of<div style="display:inline-block;width:2.6px">&#160;</div>which are hereby acknowledged, the Parties<div style="display:inline-block;width:2.5px">&#160;</div>agree </div><div id="a101" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:531.2px;">as follows: </div><div id="a103" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:144px;top:565.6px;">1.</div><div id="a105" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:192px;top:565.6px;">Definitions.<div style="display:inline-block;width:10.3px">&#160;</div>Capitalized terms<div style="display:inline-block;width:6.2px">&#160;</div>used and<div style="display:inline-block;width:6.1px">&#160;</div>not defined<div style="display:inline-block;width:6px">&#160;</div>in this<div style="display:inline-block;width:6.4px">&#160;</div>Amendment have </div><div id="a108" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:584.1px;">the respective meanings assigned to them in the Agreement. </div><div id="a110" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:144px;top:618.5px;">2.</div><div id="a112" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:192px;top:618.5px;">Amendments to<div style="display:inline-block;width:5.6px">&#160;</div>Section 2 of<div style="display:inline-block;width:5.6px">&#160;</div>the Agreement.<div style="display:inline-block;width:10.5px">&#160;</div>As of<div style="display:inline-block;width:5.7px">&#160;</div>the date<div style="display:inline-block;width:5.5px">&#160;</div>hereof, Section 2 </div><div id="a124" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:636.9px;">of the Agreement is hereby amended or modified as follows: </div><div id="a126" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:192px;top:671.3px;">(a)</div><div id="a128" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:240px;top:671.3px;">Section 2(b)<div style="display:inline-block;width:6.2px">&#160;</div>of<div style="display:inline-block;width:6.2px">&#160;</div>the<div style="display:inline-block;width:6.4px">&#160;</div>Agreement<div style="display:inline-block;width:6.4px">&#160;</div>is<div style="display:inline-block;width:6.3px">&#160;</div>hereby<div style="display:inline-block;width:6.2px">&#160;</div>amended<div 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style="display:inline-block;width:6.2px">&#160;</div>of<div style="display:inline-block;width:6.2px">&#160;</div>the<div style="display:inline-block;width:6.1px">&#160;</div>then<div style="display:inline-block;width:6.2px">&#160;</div>outstanding </div><div id="a147" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:192px;top:871.3px;">shares of<div style="display:inline-block;width:2.5px">&#160;</div>Common Stock, or<div style="display:inline-block;width:2px">&#160;</div>(ii) interests<div style="display:inline-block;width:2.7px">&#160;</div>in any<div style="display:inline-block;width:2.5px">&#160;</div>of the<div style="display:inline-block;width:2.5px">&#160;</div>Company's indebtedness; </div><div id="a149" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:192px;top:889.7px;">provided, however that<div style="display:inline-block;width:5.8px">&#160;</div>the foregoing purchase<div style="display:inline-block;width:5.7px">&#160;</div>and 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<div id="a164" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:192px;top:96.3px;">(b)</div><div id="a166" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:240px;top:96.3px;">The two paragraphs<div style="display:inline-block;width:2.6px">&#160;</div>at the end<div style="display:inline-block;width:2.6px">&#160;</div>of Section 2 of the<div style="display:inline-block;width:2.5px">&#160;</div>Agreement, beginning </div><div id="a177" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:144px;top:114.7px;">with<div style="display:inline-block;width:6.3px">&#160;</div>the<div style="display:inline-block;width:6.2px">&#160;</div>words,<div style="display:inline-block;width:6.2px">&#160;</div>&#8220;In<div style="display:inline-block;width:6.1px">&#160;</div>the<div style="display:inline-block;width:6.4px">&#160;</div>event<div style="display:inline-block;width:6.2px">&#160;</div>that . . .<div 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<div id="a306" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:96.3px;">IN WITNESS WHEREOF, the Parties have executed<div style="display:inline-block;width:5.4px">&#160;</div>this Amendment as of the date first </div><div id="a308" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:96px;top:114.7px;">written above. </div><div id="a310" style="position:absolute;font-family:&apos;Times New Roman&apos;;font-weight:bold;left:408.1px;top:149.1px;">NET 1 UEPS TECHNOLOGIES, INC.</div><div id="a314" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:408.1px;top:204.3px;">By: /s/ Alex M.R. Smith<div style="display:inline-block;width:133.4px">&#160;</div></div><div id="a321" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:408.1px;top:222.7px;">Name:<div style="display:inline-block;width:7.9px">&#160;</div>Alex M.R. Smith </div><div id="a324" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:408.1px;top:241.1px;">Title: Chief Accounting Officer </div><div id="a328" style="position:absolute;font-family:&apos;Times New Roman&apos;;font-weight:bold;left:408.1px;top:291.5px;">VALUE<div style="display:inline-block;width:6.1px">&#160;</div>CAPITAL PARTNERS </div><div id="a329" style="position:absolute;font-family:&apos;Times New Roman&apos;;font-weight:bold;left:408.1px;top:309.9px;">(PTY) LTD.</div><div id="a335" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:408.1px;top:365.1px;">By: /s/ Sam Sithole<div style="display:inline-block;width:165.8px">&#160;</div></div><div id="a342" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:408.1px;top:383.5px;">Name:<div style="display:inline-block;width:7.9px">&#160;</div>Sam Sithole </div><div id="a345" style="position:absolute;font-family:&apos;Times New Roman&apos;;left:408.1px;top:401.9px;">Title: CEO </div></div>
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