EX-10.55 18 ex1055.htm EX-10.55 ex1055
 
 
 
 
 
 
 
1
EMPLOYMENT AGREEMENT
THIS
EMPLOYMENT AGREEMENT
 
(this
 
“
Agreement
”)
 
is
 
made
 
this
 
30th
 
day
 
of
 
September,
2024 by and
 
among Lesaka Technologies,
 
Inc., a Florida
 
corporation (“
Company
”) and Daniel
 
Luke
Smith (“
Executive
”).
 
Each of the Company and Executive is a “
Party
” and, collectively, they are the
“
Parties
.”
WHEREAS
, the
 
Company desires
 
to employ
 
Executive as
 
the
Group
Chief Financial
 
Officer, Treasurer
and Secretary of the
 
Company and Executive desires
 
to be so
 
employed in accordance with
 
the terms
and conditions set forth herein.
NOW
,
THEREFORE
, in consideration
 
of the
 
foregoing and
 
the mutual
 
covenants and
 
promises in
 
this
Agreement, the parties agree as follows:
Employment
.
 
Executive
 
will
 
be
 
employed
 
as
 
the
 
Group
 
Chief
 
Financial
 
Officer,
 
Treasurer
 
and
Secretary of the
 
Company and Executive
 
hereby agrees to
 
accept such employment
 
and agrees
to serve
 
as the
 
Group Chief
 
Financial Officer,
 
Treasurer
 
and Secretary
 
of the
 
Company,
 
all in
accordance
 
with
 
the
 
terms
 
and
 
conditions
 
of
 
this
 
Agreement.
 
The
 
Parties
 
acknowledge
 
that
Executive’s
 
employment relationship
 
with the
 
Company is
 
at-will.
 
The period
 
of Executive’s
employment under this Agreement shall commence on October 1, 2024 and
 
shall continue until
and including 30 September 2027 (such period of employment, the “
Employment Period
”).
 
In
this Agreement, the Company and its subsidiaries are collectively
 
referred to as the “Group.”
Position and Responsibilities
.
 
During the
 
Employment Period,
 
Executive shall
 
report to the
 
Executive
Chairman (the
 
“
Manager
”) and
 
shall have
 
the duties,
 
responsibilities, functions and
 
authority,
including administrative, financial, executive and managerial
 
as are customary to the position of
Group Chief
 
Financial Officer.
 
Executive shall
 
serve as
 
a member
 
of the
 
Board and
 
board of
directors (or similar governing body) of any other member of the Group as may be requested by
the Board.
 
Stock
 
Incentive
 
Plan
 
participation
.
 
Executive
 
shall
 
be
 
eligible
 
to
 
participate
 
in
 
the
 
Company’s
Amended
 
and
 
Restated
 
2022
 
Stock
 
Incentive
 
Plan
 
(the
 
“
2022
 
Plan
”)
 
or
 
such
 
other
 
equity
incentive plan(s)
 
as may
 
be implemented
 
by the
 
Board from
 
time to
 
time as
 
determined in
 
the
sole discretion of the Remuneration Committee of the Board.
 
Compliance with Company Policies.
The Executive shall comply with all written Company policies,
standards, rules and regulations
 
(a “
Company Policy
” or collectively, the “
Company Policies
”)
and
 
all
 
applicable
 
government
 
laws,
 
rules
 
and
 
regulations
 
that
 
are
 
now
 
or
 
hereafter in
 
effect.
Executive acknowledges receipt of
 
copies of all written Company
 
Policies that are in effect
 
as of
the date of this Agreement.
Restrictive Covenants Agreement
.
 
On the date hereof, Executive shall execute a restrictive
covenants agreement, in the form of Exhibit A attached hereto and
 
made a part hereof (the
“
Restrictive Covenants Agreement
”).
 
Exhibit 10.55
 
 
 
 
 
2
Modification and Waiver
. This Agreement may not be
 
modified or amended, nor may any
 
provisions
of this Agreement
 
be waived,
 
except by an
 
instrument in
 
writing signed
 
by the
 
parties. No
 
written
waiver will be deemed
 
to be a continuing
 
waiver unless specifically
 
stated therein, and
 
each such
waiver will
 
operate only
 
as to
 
the specific
 
term or
 
condition waived
 
and shall
 
not constitute
 
a
waiver of such
 
term or condition
 
for the
 
future or as
 
to any
 
act other than
 
that specifically
 
waived.
Notices
. Any notice, consent,
 
waiver and other communications required
 
or permitted pursuant to
 
the
provisions of this Agreement
 
must be in writing and will
 
be deemed to have been
 
properly given
(a) when delivered by hand; or (c)
 
when sent by email , in
 
each case to any party at
 
the mailing
address, facsimile number or
 
email address set
 
forth below, or, with respect to any
 
party set forth
below, at such
 
other address,
 
facsimile number
 
or email
 
address specified
 
in writing
 
by such
 
party
to the other parties hereto in accordance with this Section 7:
If to the Executive Chairman:
Lesaka Technologies, Inc.
 
President Place, 6
th
 
Floor
Cnr. Jan Smuts Avenue
 
and Bolton Road
Rosebank, Johannesburg, South Africa
Facsimile: +27118807080
Attn: Ali Mazanderani
Email: XXX
If to Executive:
Daniel Luke Smith
XXX
Email: XXX
Governing Law
. This Agreement shall be governed
 
by the laws of the
 
State of New York
 
and, to the
extent applicable, U.S. federal law, and the parties agree to submit to the jurisdiction of
 
the state
and federal courts sitting in New York, New York
 
for all disputes hereunder.
Counterparts
.
 
This
 
Agreement
 
may
 
be
 
executed
 
in
 
separate
 
counterparts
 
and
 
may
 
be
 
executed
 
by
facsimile
 
or
 
PDF
 
copies,
 
each
 
of
 
which
 
is
 
deemed
 
to
 
be
 
an
 
original
 
and
 
all
 
of
 
which,
 
taken
together, constitute one and the same agreement.
Remainder of Page Intentionally Blank; Signature Page to Follow
 
 
 
 
 
3
IN
 
WITNESS
 
WHEREOF
,
 
the
 
Company
 
has
 
caused
 
this
 
Agreement
 
to
 
be
 
executed
 
by
 
its
 
duly
authorized officer and Executive has signed this Agreement, as of the date first above
 
written.
LESAKA TECHNOLOGIES, INC.
By: /s/ Ali Mazanderani
Name: Ali Mazanderani
Title: Executive Chairman
EXECUTIVE
/s/ Dan Smith
Daniel Luke Smith
 
 
4
Exhibit A
Restrictive Covenants Agreement