EX-10.28 5 exhibit10-28.htm AGREEMENT

Exhibit 10.28

[SASSA LETTERHEAD]

29 February 2008

Attention: Chief Executive Officer
Cash Paymaster Services (North West) (Proprietary) Limited
4th Floor President Place
Corner Jan Smuts Avenue & Bolton Road
Rosebank

c/o 4th Floor President Place
Corner Jan Smuts Avenue & Bolton Road
Rosebank
Johannesburg

Fax: (011) 343 2094

Dear Sir or Madam,

NOTICE OF EXTENSION: GRANT PAYMENT SERVICE PROVIDER CONTRACT FOR NORTH WEST PROVINCE

1. | As you are aware, the South African Social Security Agency (“SASSA”) came into being on 1 April 2006 through the coming into force of the South African Social Security Agency Act, Act No. 13 of 2004 (the “SASSA Act”). As a result of this, SASSA replaced the North West Province as a party to the service level agreement entered into with Cash Paymaster Services (North West) (Proprietary) Limited (“the service provider”) in June 2001. The function of the payment of grants and the responsibility and accountability therefore, now resides with SASSA.
2. | This letter serves to confirm that-
| 2.1 | the Agreement shall no longer automatically terminate on 31 March 2008 as provided for in the Letter of Extension dated 1 December 2006;
| 2.2 | the duration of the Agreement is hereby further extended until 31 March 2009 on the same terms and conditions on which the Agreement was entered into, provided that SASSA will have the right to:

2

| 2.2.1 | terminate the Agreement on 30-days written notice to the service provider after the initial six months of the extension period within the period referred to above; and
| 2.2.2 | extend the Agreement on 30-days written notice to the service provider.

3. | Kindly acknowledge your agreement to the extension of the Agreement as provided for in this letter by signing at the foot of this letter where indicated and return same to us by facsimile at 012 400 2256, marked for the attention of Mr Stalin Links, before 7 March 2008.

Yours faithfully

/s/ Fezile Makiwane
___________________________________
MR FEZILE MAKIWANE
CHIEF EXECUTIVE OFFICER

__________________________________________________________________________________

ACKNOWLEDGEMENT OF EXTENSION

By signature below, Cash Paymaster Services (North West) (Proprietary) Limited hereby accepts and consents to the amendment and extension of the Agreement on the terms and conditions contained in this notice.

Name: _N. Pillay__________________

Signature: _/s/ Nanda Pillay__________

For and on behalf of
Cash Paymaster Services (North West) (Proprietary) Ltd,
duly authorized

Date: ___07/03/2008_______________