AGGREGATOR

AND

IAGENTI

AGGREGATOR/AGENT AGREEMENT
ThisAgreem enti
s dated the ''Effective Date'
'and is entered into by and between

(AGGRIGATOR)LIMITED,acompany incorporated in Kenya underthe CompaniesAct(Chapter486

ofthe Laws of Kenya)with registration number ( )and having i ts registered offices at (
(hereinafterreferred to as 'sAggregator''which expression shallinclude its successors in title and
assigns),
and

(AGENT)acompanyincorporated inKenyawithregistration number( j and having its registered

officeat( )(hereinafterreferred to as 'sAgent''which expression shallinclude itssuccessorsin
title andassigns),
(eacha''Party'
'andtogetherthe''Partiesnl.

W HEREAS

(A) Safaricom Limited (''safaricom'')is a mobile networkoperatorin Kenya.Asan additionto its

mobile network services, Safaricom provides cedain of its subscribers ('M-PESA
Subscribers'')witha mobile moneytransferservi ce (''M-PESA Service'
').Underthe M-PESA
Service,Safaricom issuesvalue ('M-PESA Value'')in returnforrealmoney.M-PESA Value is
denom inated in Kenya Shillings and can be redeemed in Kenya Shillings. The realmoney
paid to Safaricom in return forthe issue ofM-PESA Value is placed to the credi
tofa trustee
accountmaintained by M-PESA Holding Company Limi
ted ('i
-rrustee'')inorderto ensure that
the requisite funds are always available to redeem aIIM-PESA Value atanytim e in issue.

(B) Pursuaht to an M-PESA Aggregator Agreement dated (...) entered into between the
Aggregatorand Safaricom (the l'AggregatorAgreement') Aggregatorisparticipating inthe
M-PESA Sèrvice as an Aggregatorin respectofwhich Aggregatorwillbe permitted to recrui
t
its(specifytypeofexistingrelationship,e.g.petroleum dealersjasitsagents.
The Agentwishes to actas agentforthe Aggregatorin accordance with the terms hereinafter
appearing and this Agreementsets outthe Padies'agreementwith respectto the M-PESA
Services.

NOW THE PARTIES AGREE AS FOLLOW S:

DEFINITIONS AND INTERPRETATION In this Agreement, the expressions M-PESA
Subscribers,M-PESA Servi ce,M-PESA Value and Trustee have the meanings ascribed to
them in the Recitals and,unless the context otherwise requi
res,the following words and
expressions shallhave the following meanings:-
'lAggregator's M-PESA Account'' means the M-PESA Account created for the
Aggregatorwithin the M-PESA solution.
 'lAgreem ent''means this agreementconcluded between the Aggregator and Agent
forthe participation by the Agentin providing the M-PESA Services and includes aII
Schedules hereto.
1.3 ''AgreementPeriod''shallmean the initialperiod ofone (1)yearfrom the Electi
ve
Date.
1.4 ''Cash Float'means the cash provided by the Agentateach Outletforthe provision
ofthe M-PESA Services.
1.5 llconditions ofUse''meansthe Customerterms and conditions ofuse ofM-PESA;
1.6 ''ConfidentialInform ation''means aIIsecretinformation and data,whetherornotin
materialform ,whatsoever and howsoever deri ved or acquired relating to M-PESA
and the provision of the M-PESA Services and aII other confi dential or secret
information disclosed by oron behal
fofeitherparty to the otherincluding the term sof
this Agreem ent.
'Custom er''means a retailuserorconsumerofM-PESA Services'
,
1.8 'E-VaIue''m eans the electronic value issued by Safari
com and representing an
entitlement to an equivalent amount of the cash m onies held by the Trustee in
respectofthe purchase ofsuch electronic value.
1.9 '
lEquipm ent'm eans alIthe equipm entprovi
ded to the Aggregatorby Safaricom for
the purposes of providing the M-PESA Services and shallinclude without lim i
tation
the custom ised SIM and,where applicable,GSM handsetand related accessories,
which may include pointofsale branding material,M-PESA Manualand instructions
forthe provision ofthe M-PESA Services.
1.10 $$ID Document''means a person's valid and originalNational Identity Card,Alien
Certificate,Military identity Card orPassport.
'Log Book''means the wri
tten record of Transactions pe/ormed by the Agent at
each Outletand againstwhich each Customer is required to sign upon successful
com pletion ofa Transaction;
''M-PESA'
'means the propri
etary mobil
e m oney transfersolution which is marketed
and managed inthe Republic ofKenya by Safaricom .
''M-PESA Account'means an accountmaintained by Safaricom wi thin the M-PESA
Solution in the name ofthatM-PESA Subscriberin which alIcash sums represented
electronicallyare held;
1.14 ''M -PESA Manual' means the manual issued to the Aggregator which records
methods of operation, procedures, and other practical matters relevant to the
provi
sion ofthe M-PESA Services,as setout in Schedule Fourand as may be as
updated by Safaricom from time to tim e during the AgreementPeriod.
 ''M-PESA Floattsl''meansthe sum ofE-value held by the AggregatororAgentfor
the provision ofthe M-PESA Servicesfrom each Outlet.
1.16 ''M-PESA Operator'means each person within an Outletauthorised to operate the
PilotProgramme using the Equipm ent.
''M-PESA W eb Page''meansthe web page situated atwww.m-nesa.com/ke

1.18 ''
Outlettsl''meansthe physicaladdresstes)ofeachplace ofbusinessfrom which the
Agent is authorised to provide the M-PESA Services to Customers,as setout in
Schedule Five.
1.19 ''PIN'
' means each M-PESA personal identi fication number associated with the
operation ofa M-PESA Floatby each M-PESA Operator.
1.20 '
tplatform 'means the technology platform which holds the M-PESA Accountdetails
ofallM-PESA Subscribers' ,
1.21 'SIM''means the specially custom i
sqd subscriber identity m odule through which a
connection is provided to the Aggregator and/or Agent to facili tate the M-PESA
Services.
''SMS'
'meansshortm essaging services.
't
Tradem arks & Trade names''means the M-PESA name and Iogo,whi ch may only
be used by the Aggregator and/or Agent in accordance wi
th the term s of this
Agreement.
1.24 ''
Transaction Lim its''means the Iimits placed on the Transactions that may be
effected byAgents from speci
fic Outlets as speci
fied in Schedule O ne and as further
described inthe M-PESA Manual.

1.25 'Transactions''means(asthe contextrequires in respectofthe M-PESA Services)

(i) receiving cash payments in respectof the purchase of E-value (ii)crediting
Customers' M-PESA Accounts in accordance with SMS instructi ons and (iii)
regi
stering new Customers.
1.26 'W eb Intedace'
' m eans the internet interface through whi
ch M-PESA Accounts
details including Transactions and M-PESA Float balances, can be viewed and
through which certain Transacti
ons can be completed as more particularly speci
fied
in the M-PESA W eb Page.
2. Paragraph headings in this agreementare inserted forreference purposes only and shallnot
electthe interpretation ofany ofthe provisions to which they relate.ln thisAgreement,unless
the contextotherwise requires:-

2.1 capitalisedtermsshallhavethemeaningsetoutinsub-clause (1).

,
2.2 references to any gendershallinclude a refërence to aIlothergenders;
the singularshallinclude the pluraland vice versa;

t-)
.
 2.4 persons include partnerships and bodies corporate'
,
2.5 references to any Iaw orregulation shallinclude a reference to thatI
aw orregulation
as ma# be am ended,superseded orreplaced'
,
3. APPOINTM ENT OF AGENT
3.1 TheAggregatorherebyappointstheAgent,andtheAgentaééeptssuchappointment,
to olerthe M-PESA Services to Customers asthe agentofthe Aggregatoron a non-
exclusive basis for the duration of this Agreement on the terms set out in this
Agreem ent.
3.2 The Agent's authori ty to actas agent forthe Aggregator in providing the M-PESA
Services is strictly Iimited to the performance ofthe tasks setoutin this Agreement
and shallnotextend to any otherm atterorthing. The Agentshallnothold itsel fout
as an agentor representative of the Aggregatoror Safaricom ,and shallhave no
authority or powerto bind the Aggregator except as expressly authorised by this
Agreem ent. Forthe avoidance ofdoubt,the Agentshallhave no authori ty orpower
to bind Safaricom .
The Agent shallcom ply with aIl applicable Iaws, rules, regulations and statutory
requirem ents existing in the Kenya from time to tim e,including aIIappli
cable anti-
moneyIaundering ('AML'
')requirements.
OBLIGATIONS AND RIGHTS OF THE AGENT

4.1 TheAgent'
senti
tlementto remainappointedbytheAggregatorasitsagentis subject
to the Agentcom plying in aIIrespects and ataIItimes with its obligati
ons as setoutin
this Agreement and any and aIIAML policies and procedures noti
fied to i
t by the
Aggregator.
4.2 Notwithstanding the generality ofthe provisi
onsofclause 4.1 the Agentshall:-
4.2.1 offerthe M-PESA Services to Customers on a non-exclusive basis for the
duration ofthis Agreement;
4.2.2 Use its bestendeavoursto registernew Customersforthe M-PESA Services.
4.2.3 Ensure thateach Customersigns the Log Book upon successfulcom pleti
on
ofa Transaction'
,
4.2.4 Receive cash paymentsfrom Customers into the Cash Floatin exchange for
creditsto Custom er's M-PESA Accounts with a corresponding debitto the M-
PESA Float.
4.3 Upon appointment,the Agentwillbe issued wi
th Equipmentforuse when electing
Transactions using the Equipmentin accordance with the terms ofthis Agreement
and the M-PESA M anualand willbe granted access to the W eb Interface.

4
4.4 The Agent will be given access to the M-PESA Platform and enabled to initiate
Transactions.
The Agentshallnotini tiate any Transactions otherthan forthe purposes ofeffecting
a bonafide transferofvalue from a Custom ervia the M-PESA Services.
4.6 The Agentshallnotcarry outany transaction with any Customerwi thoutrecei ving,
and checking with reasonable diligence,the required customeridentification m aterial,
as outlined in the M-PESA Manual.The Agent shalldecline any application i
f the
Agentand/orAggregatoris notsatisfied wi
th proofofthe Customer'
s identity.
4.7 The Agent shalltake fullaccount of any AM L related noti
fications given by the
Aggregator- including any blockon dealingswhich the Aggregatoradvises should be
implemented in orderto secure com pliance with Iaw.
4.8 ln the event thatthere are insuffi
cient sums available in the M-PESA Floatat the
relevantOutlet to effect the Transaction,the Agent m ustdecline to carry out the
Transaction and contactthe Aggregator.
4.9 The Agent acknowledges that it shall not be permitted at any tim e during the
Agreementto sell,display and orotherwise promote the products and servicesofany
person orentity directlyorindirectly in com petition with the M-PESA Services.
4.10 AIIEquipmentsuppli ed to the Agentby the Aggregatorshallremain the property of
Safaricom . The Aggregatorshall,on behal
fofSafaricom,replace aIIIostEquipment
and SIM cards and aIIor any Equipment or SIM card damaged from generalwear
and tear, other than in respect of any Ioss or damage caused by the Agent's
negligence or Iack of care. Upon the Aggregator replacing any Iost or dam aged
Equipment,the Agentshallreimburse Aggregatorforthe costofsuch replacem ent.

Notwithstanding clause 4.10 herein the Agentshallkeep and maiqtpin th: Equipm ent
in good condition and repair, fair wear and tear accepted, for use only for the
purposes offacili
tating the M-PESA Services and shallensure thatany damage to or
theftofthe Equipm entis immediately reported to the Aggregator.The Agentagrees
to indem nifythe Aggregatoragainstand aIIclaim s,costs and consequencesthatm ay
arise outofthe breach ofthis provision.
The Agentshallonly provide the M-PESA Services using the tarils as set out in
Schedule One,as m ay be varied by revised tari
ls noti
fied to the Agentfrom time to
time.
N.
4.13 The Agentshallonly provide the M-PESA Services atthe agreed Outl
ets within any
Transacti
on Lim its placed on such Outlets.
4.14 The Agent shallat aII times comply with the terms of this Agreem ent and the
procedures specified in the M-PESA Manual,as updated from time to tim e,and the

5
 Agentfurtherundertakes to comply with aIlIaws,by-laws and any otherregulations
issued by any com petentauthority in rel
ation to the operation ofthe Equipment.
4.15 The Agent shall not be enti
tled to cede or assign any rights granted under this
Agreementto any otherperson.
4.16 The Agentshallnotbe entitled to appoint sub-dealers forthe provision ofthe Pilot
Program me.
The Agent agrees to hold in confidence thi
s Agreement and aII information,
documentation,data and know-how disclosed to it by the Aggregator and shallnot
disclose to any third party oruse ConfidentialInform ation otherthan in connection
with the pedorm ance of this Agreement or any part thereof without the written
approvalofeitherthe AggregatororSafaricom,as the case m ay be.
4.18 The Agentshallcom ply with the term s ofthe Schedules to this Agreementas may be
updatedfrom time to time.
OBLIGATIONS AND RIGHTS OF AGGREGATOR
5.1 The Aggregatorwillcom ply in alIrespects and ataIItim es with its obligations as set
outin thisAgreementand the generalprovisi onsofthe M-PESA Manual.
5.2 The Agentacknowledges that:
5.2.1 the Aggregator,ora person acting on i ts behal
f,shallhave the rightto audit
the Agent's acti
vities forAM L purposes
5.2.2 the Aggregator,or a person acting on its behal f,shallhave the rightatany
j '
time during the AgreementPeriod to inspectthe Agents business operations
and its Outletsto ensure compliance with the terms ofthis Agreement.
5.3 The Aggregatorshallnotify the Agentofthe Fee Am ountapplicable from time to time.
5.4 The Aggregator shall agree with the Agent what percentage of the com missions
earned mayberetained bytheAgentand arrangements(includingtiming)forpassing
on the comm issions PROVIDED thatthe Agentshallbe entitled to a minimum of20%
orcomm i ssions earned.
The Aggregator shall maintain a sufficient balance in the Aggregator's M-PESA
Account to ensure that alI transfer Transactions ini
tiated with the Agent can be
honoured.
INFORMATION SECURITY
Each Party shallcom plywith the provi
sions ofSchedule Two,which deals wi
th confidentiality
and other information security matters. The obligations of confidenti ali
ty contained in
Schedule Two shallsurvive the term ination ofthis Agreem entand shallcontinue fora period
of5 years from the date ofterm inationofthisAgreement.
 FLOAT PROVISION
The M-PESA FloatshallatalItimes during the AgreementPeriod be the property ofthe Agent
and shallvary in accordance with the Transactionseffected by the Agent.
8. M-PESA OPERATOR REGISTRATION
8.1 The Agentshallappointa primary M-PESA Operatorwithin each Outlet,who willbe
responsibl
e for administering the Outlet's M-PESA Float.The Agent shallregister
each M-PESA Operator(once theyhave completedAMLtraining)and i
ssue such M-
PESA Operator with an assistant lD,so thatthe person electing the Transactions
can be identified and recorded.The M-PESA Operator can then perform M-PESA
Transactions on behal
fofthe Agentusing any phone associ ated with thatOutlet's M-
PESA Float.The information needed to registeran M-PESA O peratorshallbe:-
i. Operator's Name
ii. The numberofthe Operator's ID Document
iii. Operator's Address
The Aggregatorand the Agentshallbe bound by and be responsible foraIIactions
taken by each M-PESA Operator on its behalf. AlIactions taken by the M-PESA
Operatorshallbe deemed to be actions taken by the Agentand Aggregator.
RECORD KEEPING
9.1 The Agent shall keep proper records in relation to its provision of the M-PESA
Services,and shallensure thatthe registration particulars ofeach Customeron the
Log Bookare prom ptlysentto the Aggregatorupon request.
'
9:2 Upon affecting a Y
'ransadion the 'Agent will'get an SMS confirmation of the
Transaction to be effected,and only upon receiptofsuch SMS confirmation willthe
Agentcomplete the Transaction.
10. FRAUD MANAGEM ENT
10.1 In the eventofany Ioss ortheftofany Equipmentby the Agentor its staff,then an
imm ediate wri
tten reportofsuch Iossortheftmustbe forwarded to the Aggregatorby
the Agent,in orderthatthe Aggregatorcan reportto Safaricom enabling Safaricom to
freeze orimmobili
ze the effective use ofthe same.

10.2 TheAgentwillberesponsibleforthe safekeepingand properuseoftheEiuipment

by i
ts stafï.Each M-PESA Operator6fthe Agentwlllbe issued with a PIN foruse
when effecting Transactions using the Equipmentin accordance with the terms ofthis
Agreementand the M-PESA Manual. The Agentshallinform each M-PESA Operator
thatthe PIN mustbe keptsecret. The Agentshallbe responsible foraIITransactions
undertaken using each PIN.The Agent shall indem nify and keep the Aggregator
indem ni
fi
ed at aII times .against any and aII costs, expenseq, actions, claims,

7
 demands and damages howsoever and when so ever arising as a result of the
wrongfuluseofthe EquipmentprovidedtotheAgent(orthePIN.)
10.3 The Agentshallnotuse the Equipmentto commi
tany o#encets)againstKenyan
Law.In the eventofany breach ofthe law,the Agentmayface prosecution orother
legalproceedings atits sole riskasto costs and damages.
10.
4 The Agentshall,forits own protection,keep confidentialaIlpersonalidentification or
security numbers used with the Equipmentforthe provisibn ofthe M-PESA Services
and ensure thattheyare notdisclosed to anyone otherthan to M-PESA Operators.
10.5 The Agentacknowledges thatthe access and use ofthe M-PESA W eb Page via the
W eb Interface by M-PESA Operators is subjectto the policies and guidelines of
acceptable information technology usage as m ay be published in the M-PESA
Manual.

10.6 The Agentshallensure thatOperators only access and provide the PilotProgramme
in accordance with the terms contained herein and the M-PESA Manual.
BRANDING & PROMOTIONAL MATERIALS & INTELLECTUAL PROPERTY RIGHTS
Safaricom shall provide aII branding and advertising support materials such as
posters, and internal point of sale materialat no cost to the Aggregator (the
'Materialsn).Forthe avoidance ofdoubt,the Materials suppli
ed to the Aggregator
(who inturnshallsupplytheseto the Agent)shallremainthe propertyofSafaricom,
returnable upon demand or upon termination of this Agreement. The Agent shall
strictly complywith,aIIinstructions given to itby,oron behalfof,Safari
com in respect
ofthe Materi als and theiruse.
11.2 The Agentshallprom inently display the Materials supplied by Safaricom . The Agent
shallnotuse any otherbranding oradvertising materials in connection with the Pilot
Programme orthe Service exceptforthe Materi als

TheAgentshallnotuse,and shallprocure thatotherauthorised usersdo notuse,(i)

the Trademarksand Trade names,or(ii)any othertrade marks,copyrightworks or
other materials in which Safaricom or its group com panies own any intellectual
property rights,except as part of the Materi
als. The Agent shall not modify the
Materials in any mannerwhatsoever.

11.4 The Agent shallnot use any trade marks thatare confusingly similarto (i) the
TrademarksandTradenames,or(ii)any othertrade marks,copyrightworksorother
materials in which Safaricom or its group compani
es own any intellectualproperty
rights.
11.5 The Agentshallnotdisplay anything thatbears the branding of,orwhich refers to,
any competitors of Safaricom or its Affiliates in any Iocation where the M-PESA
Services is made avail
able.
 .

t
t'
11.6 The Agentshallpromptly noti
fy the Aggregator (in orderthatthe Aggregator can
promptlynotifySafari com)ofanyactual,threatenedorsuspectedinfri ngement,
improperorwrongfuluse of(i)the Trademarks and Trade names,or(ii)any other
t
tr
co
am
depam
ni
a
er
sks
ow
,ncoapn
yy
ri
g
in
ht
elw
l
ec
ot
ru
ka
slp
orop
oe
thr
e
t
yrrm
i
gh
ats
eri
a
tlsi
hat nwhi
cth
comes
, oS afa
the ri
com'so
Agent ri
nott
cs
i group
e. t
-.
11.7 TheAgentshall,attheexpenseofSafaricom,takeaIIreasonablemeasurestoassist '
j
Safaricom to protectand maintain the intellectualpropedy rights ofSafaricom orits t

ga
Sro
fu
ar
pi
cc
oommf
pr
a
on
mi
et
sim
.e
Th
to
et
A
i
mgend
ti
sc
hl
a
ol
sin
dg
i
sp
to
l
ay
tha
etg
te
he
neO
raultl
p
eu
ts
bl
t
i
c
hetht
a
et
xtha
esAsg
ti
g
pr
u
el
aa
gte
to
drbi
y
s t
Iicensed by Safaricom to provide the M-PESA Services and is nota branch oragent

ofSafari comandnoagencyrel ationshipexi stsorisherebycreatedcbeetw

Parties. Agent shalldisplay at its Outlets such other trade or servi
eenthe
marks or
t'
11.8
copyrightnoti
cesasSafari commaysti pulatefromtimetoti me.
The AgentagreesthataIIgoodwillaccruingto (i)the Trademarksand Trade names,
t
o
i
t
s
r(
g
i)
ro
au
np
yc
oo
thm
ep
ra
tr
n
ai
d
es
em
ow
ar
nksa,n
cy
op
i
n
yt
r
e
i
glh
et
cw
tuo
ar
l
ks
pror
pe
ot
r
h
ty
erri
m
gh
ats
eri
al
si
by ndue
viwhi
cofhStafar
hei
, ri
como
use inr @
accordance with this Agreementshallaccrue to Safaricom orits group companies as
appropriate and thatneitherthe Aggregatornotthe Agentacquires any rights in any )
.

ofthesaid (i)TrademarksandTrade names,or(ii)anyothertrade marks,copyri

ght
w
iorksorothermateri alsinwhi chSafari comori tsgroupcompani esownany
ntellectual property rights. Upon request,the Agent shallexecute a confirmatory
j
'
.
12. LIABILITY
assi
gnmentofanysuchgoodwi
ltoSafari
comori
tsgroupcompani
es. )
(
I
i
N
ab
oi
t
l
e
it
yt
o
toAth
gq
gr
Aege
ar
t?
o
/r
/
-yousjoul
.
dtakeyourownadviceonwhet
heryoushouldIi
mityour t
.

13. c
To
AnXt
ef
n
Ntot
f
eat
o
taA
xg
cg
l
a
ru
es
ge
at
o
i
nrt
-
hi
yo
sAugr
se
he
om
ul
e
dnt
akeyourownadvi
l ceonyourtaxobl
i
gat
ionsandthe l
.

13.1 Any taxes,charges,impositions orIevies im posed on any Party in the performance of

its obligations in relation to the M-PESA Services (including income taxes,VAT, ..
excise taxes and wi thholding taxes)shallbe paid by thatParty,itbeing solely that
Party's obligation to collectand rem itsuch taxes to the relevanttaxing authoritie'
s. )
13.2 Nothing in thi
s Clause shallbe interpreted to require any Pady to bear any incom e
taxeswhich underapplicable Iaws is imposed upon recipients ofremittances. t
14. NO GUARANTEED INCOM E
Nowarranti
esorrepresentati
onsaremadewi
thregardtopotenti
alrevenuesthatmaybe t
earned by the Agentfrom the provision ofthe M-PESA Services and no reliance should be
.

placedonanystatementsorprojecti
respect.
onsprovi
dpd,whetherverbalyorinwri
tinginthi
s (-
9 t-
' '
..

t.
15. INDEMNITY JNofe toAggregator- you should takeyourown advice on whetheryou should
haveanindemnityin thisAgreementfrom theAgent,similartothedraflc/atzseseloutbelowl
The Agentshallindemnify the Aggregator,and keep the Aggregatorindem nified,from and
againstany and aIIcosts incurred by the Aggregator(including butnotIimited to any Iegal
fees and costs)and any oraIIloss,damage orIiability,whethercriminalorcivil,sulered by
the Aggregator resulting from a breach ofthis Agreement by the Agent including but not
Iim ited to breaches caused by any act, neglect or default of the Agent, the Agent's
employees,orany third party claim in respectofany matterarising from the Agent's conduct,
provided thatthe Iiability has notbeen incurred directly through any defaultby the Aggregator
in relation to its obligations underthis Agreement.

16. TERM INATION

This Agreementshall,unl ess terminated in accordance wi
th the provisions ofclause
16.2,endure untilthe completi
on ofthe AgreementPeriod.
16.2 ThisAgreementmay be term inated asfollows:

16.2.1 byeitherPartygiving notIessthanthirty(30)dayspriornoticeoftermination;

16.2.2 immedi
atelyupon the term ination orexpiry ofthe AggregatorAgreement;
16.2.3 immedi
ately bythe Aggregator:

(i) iftheAgentactsina mannerthatisinappropriate'

,
(ii) ifthe Agentis in breach ofthis Agreement,orany applicable Iaw or
regulation;and/or

(iii) following express instructionsfrom Safaricom in circumstances where

the Agentis guilty ofinappropriate conductorforany otherreason that,
in the sole discretion ofSafaricom warrants termination.
In the eventofsuch term ination orthe naturalexpiry ofthe Agreem entthe following
conditions shallapply:
16.3.1 The Agentshallno longerhold itsel
foutas being an agentofthe Aggregator
forthe supply ofM-PESA Servicesand shallimmedi ately cease providing M-
PESA Services.
16.3.2 The Agentshallcease forthwith to use the Equipment,the Trade nam es and
Trademarks.
16.3.3 The Agentshallimm ediately return the Equipm entto the Aggregatorin good
working order subject to allowable fair wear and tear, in order'that the
Aggregatorcan returnthe Equipm entto Safaricom .

16.3.4 Subjectto any rightsofsetoffinrespectofanyclaimsagainsttheAgent,the

Agentwillbe entitled to recei
ve any com missions earned as atthe date of
 term ination and shallnotbe entitled to claim forany othercosts,expenses
whatsoeverari sing directly orindirectlyfrom any Ioss ofbusiness.
Upon termination ofthis Agreem entfor any reason the Agent shallhave no claim
againstthe AggregatororSafaricom forcom pensati
on forIoss ofdistributi
on orother
rights,Ioss ofgoodwilloranysimilarIoss.

16.5 Subjectto anyprovisiontothecontrary,the termination ofthisAgreementhowsoever

caused shallbe withoutprejudi
ce tothe continuati
on ofanyprovisionwhichexpressly
or by implication comes into operation or continues in force after the date of
termination and shallbe withoutprejudice to any rights and Iiabili
ties ofthe Parties
which may have alreadyaccrued priorthe date oftermination.

17 RIGHT OF SET OFF

The Aggregatorshallhave the rightto offsetany sums owed by itto the Agenthereunder
againstany sums due and owing by the AgentwhetherunderthisAgreem entorotherwise.
18 GOVERNING LAW AND JURISDICTION
This Agreem entand any disputes orclaim s arising outoforin connection with its
subjectmatteraregoverned byand construed inaccordancewith Kenyan Law and
each Party irrevocablyagreesto submittotheexclusivejurisdiction ofthe High Court
ofKenya overany claim orm atterarising underorin connection with this Agreement.
19 GENERAL PROVISIONS
19.1 This Agreem ent constitutes the entire agreement between the Parties and
supersedes any previous agreementorrelationship of whatsoever nature between
the Padies in respectofthe M-PESA Service.A variation ofthis Agreementis valid
only ifitis in writing and signed by oron behal
fofeach Party.
AIInotices orothercomm unicati
ons to be gi
ven underthis Agreementto eitherParty
shallbe made in wri
ting and sentby I
etter(unless as otherwise stated herein)to
aforestated addresses.
19.3 Exceptwhere this Agreementprovides otherwise,the rights and rem edies contained
in it are cumulative and not exclusive to rights or remedies provided by Iaw.The
failure to enforce at any time orfor any period any one or more of the terms or
condi ti
ons ofthis Agreementshallnotbe a waiverofthem orofthe rightatany time
subsequently to enforce aIlterm sand conditions ofthisAgreement.

19.4 Ifany provi

sion ofthis Agreement is declared by any judicialorothercompetent
authority to be void,voidpble,illegalorotherwise unenforceable,the Parties shall
amend that provi sion in such reasonable manner as achieves the intention of the
Padies withoutillegality and the remaining provisions ofthis Agreementshallremain
infullforce and effect.

11

t
))
 19.5 Unless otherwise required by Iaw,the Agentshallnotm ake,orcause to be made,
any press release,public announcementordisclosure to any third Party in respectof
this Agreementorthe transactions contemplated hereby orotherwise com municate
withanynews Mediawithoutthe priorwrittenconsentofSafaricom.

IN W ITNESS W HEREO F this Agreementhas been dulyexecuted in two counterparts on the Effecti
ve
Date By:-

IAGGREGATOR) Agent

Name : Name :-

Designati
on : Designati
on'
.
Date Date

Signed : Si
gned :-

In the Presence of: Inthe Presence of:

Nam e Nam e

Signed Signed
 Schedule One

A G ENT CO M M ISSIO N S

Com m issions are inclusive of w ith-holding taxes w here applicable

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VALUE M OVEM ENT TRANSACTIO NS m in m ax
Registered Cash W ithdraw al 100 1,000 12
1,001 2500 15
2,501 5,000 25
5,001 10,000 35
10,001 20,000 60
20,001 35,000 70
Unregistered user cash w ithdraw al
100 1,000 12
2,501 5,000 15
5,001 10,000 35
10,001 20,000 60
20,001 35,000 70
Cash Deposits
100 1,000 8
1,001 2500 10
2/'501 5lO00 10
.
5,001 10,000 15
10,001 20,000 20
20,001 35,000 40
Com m ission per M - PESA custom er Custom er registration com m ission to agents w ill
registration rem ain at Ksh.30 and an additionalKsh.30 on
1stde osit b the re istered custom er
Com m ission per SIM SW AP As perSafaricom com m ission structure

calling custom er support - Line 234 NiI

The com m ission splitw illbe 80/20

13
 Schedule Two
Inform ation Securitv

(1) AIIConfidentialInformationgivenbyaPady('
tDisclosing Party')toanotherParty
(''Receiving Party'
')orotherwise obtained bythe Recei
vingPadyshallbetreated bythe
Receiving Party,its employees and subcontractors as confidenti
aland shallnotbe used
otherthanforthe benefi tofthe Disclosing Party orthe fudherance ofthe Recei
ving Party's
participation in the PilotProgramme. The foregoing applies notwithstanding thatsuch
ConfidentialInformation may have been disclosed priorto this Agreement.

(2) The Receiving Party undertakes notto disclose,withoutthe pri

orconsentin writing ofthe
Disclosing Party,Confidenti
alInformation ofthe Disclosing Party in whol
e orin partto any
otherperson save to:

(a) thoseofitsofficers,employees,agentsandcontractorswhohaveareasonable
need to know thatinformation in orderforthe Receiving Partyto be able to
perform itsobligations orexercise i
ts rights underthis Agreement;or

(b) i
tsprofessionaladvisersandauditorswho aresubjecttoappropriate professional
duties ofconfidence.

(3) TheReceivingPartyundertakes:
(a) toprotecttheConfidentialInformationoftheDisclosingPartytoatIeastthesame
manneras itprotects i
ts own;

(b) notto co-mingle the ConfidentialInform ation ofthe Disclosing Party;and

(c) to impose on any person to whom it discloses Confidential Inform ation of the
Disclosing Party under Section(2)(a) above confidentiality obligations that are
equivalentto those imposed on the Receiving Party underthis Schedule and the
Receiving Party shallbe responsible forany breach ofthose obligations as i
fitwas
a breach ofthis Schedule.

(4) Theprovisionsoftheprecedingsectionshallnotapplytoanyinformationthat:
(a) becomespublicknowledgeotherthanbybreachofthetermsinthisSchedule'
,
(b) isinthepossessi
onoftheReceivingPartywi
thoutrestrictioninrelationto
disclosure before the date ofreceiptfrom the Disclosing Party;

(c) isreceivedfrom athirdpartywhoIawfullyacquiredordevelopeditandwhois

underno obligation restricting itsdisclosure'
,or

14
 (d) isindependentlydevelopedwithoutuseoftheDisclosingParty'sConfidential
Information.

(5) TheRecei
vingPartyshallnotbeinbreachofthisScheduleifitisobligedtodisclose
ConfidentialInformationofthe Disclosing Partybyorderofacourtofcompetentjurisdiction,
pursuantto a regulatory dem and orthe rules ofan internationally recognised stock-
exchange provided that,so faras practical,the Receiving Party gives the Disclosing Party
pri
orwritten noti ce ofsuch disclosure and provi
desreasonable assistance to the Di
sclosing
Party in trying to preventorcontain such disclosure.

(6) AttherequestoftheDisclosing Party,the Receiving Partyshallpromptly(andin anyevent

withinthirty(30)days)returnto the Disclosing Partyoratitsoption,destroyaIIConfidential
InformationoftheDisclosing Partyandshallcerti fybyasi gnatureofa Director(astheterm
isunderstood inIaw)orauthorized officerthatishasdoneso.Inrespectofconfidential
information stored electronically,itshallbe suffi
cientthata party uses its reasonable
endeavours to expunge such data from its systems.This shallnotincludethe expunging of
such data from a party'senterprise Ievelbackups orarchives unless and untilsuch backups
and/orarchives are restored to a Iive environm ent.

(7) The Parti

es acknowledge thatdamagesalone shallnotbe an adequate remedyfora breach
oftheobligati
ons inthisScheduleand aParty mayobtaininjunctive relieffrom acourtin
orderto restrain any actualorthreatened breach.

(8) TheParti
esacknowledgethattheymayneedtocollectpersonaldatafrom Customersin
orderto process M-PESA Transactions and otherwi se participate in the PilotProgramm e.
The Party collecting the personaldata shallbe the data controllerand each otherParty
requirldtoprocessthedatashallbeadataptötzbsöt.
'EâùhPà/t#it'tëspöhsiblef:r
fam iliarising i
tsel
fwith aIlIegislation and/orregulationsthatapply to personaldata thatthey
collectorprocess inconnectionwiththisAgreement(aIIreferredtotogetherasthe''Data
Protection Requirementsn). EachdataprocessorshallcomplywithaIIoftheirobligations
underthe Data Protection Requirements and in parti
cularshall:

(a) subject to Data Protection Requirements, onl

y process personal data in
accordance with the relevantdata controller's instructions and forthe purposes of
the PilotProgramme and withoutlim iting the foregoing withoutthe written consent
ofthe data controllershallnotuse personaldata as to which itis not the data
controllerformarketing purposes;

(b) implementappropriate technicaland organisationalmeasures to protectpersonal

data against accidental or unlawful destruction or accidental Ioss, alteration,
unauthorised disclosure oraccess to the personaldata;and

(c) take reasonable steps to ensure the reliabilityofstaffthathave access to the

personaldata.

15
(9) Atanytimeduringtheterm ofthisAgreementandforoneyearafteritstermination,each
data controllerwillhave the right,following reasonable written notice,to review orauditthe
processes,proceduresand practices used by each data processorin orderto maintain the
security ofpersonaldata being processed forthe purposes ofthe M-PESA Services. The
review orauditshallbe atthe data controller'scostunlessthe review orauditreveals that
the data processorhasfailed to com plywith its obligations underthi
s Schedul
e,in whi
ch
case the data processorshallreim burse the data controllerforthe reasonable costofthe
review oraudit.

(10) ThePartiesmaydisclosepersonalinformationofCustomersandotherinformationrelated
to M-PESA Transactionsas required to complywith any applicable LegalRequirementorto
relevantIaw enforcementand regulatory authorities to the extentpermitted by Legal
Requirements. Ifa Iaw enforcementorregulatory authorityrequests ofa Party thatisnot
the datacontrolleranysuch informati
on(outside ofnormalrepoding requirements)the Pady
receiving the requesti fpermitted by LegalRequirem entsshallprom ptly noti fythe data
controllerand,i frequested by the data controller,willcooperate with the data controllerin
any effortto obtain a protecti
ve orderorin otherprotective measures.To the extent
perm itted by LegalRequirements,i frequested by a Partyeach Party willcooperate with the
requesting Party in orderto complywi th LegalRequirements and to respond to appropriate
inquiri
esfrom Iaw enforcementorregulatory authorities.

W hen accessing orusing the M-PESA System ,Aggregatorshallcom ply with aIIappli cable
securi
ty policies and procedures notified to them by Safaricom from time to tim e.