Document:

EX-10.1

 Exhibit 10.1 

Banco BPM Group – Internal Use 

[on headed paper of] 
 BANCO BPM

  
 On plain paper pursuant to Italian Presidential Decree 601/1973 

Agreement to suspend payment of the Principal Component of the repayment instalments (with possible extension of the duration) of Unsecured
Loan 
 On 15th April 2021, in the offices of BANCO BPM S.P.A., the following persons appeared:

  

	 	-	 	 Luca Restocchi born in Lodi on 16 September 1967, acting hereunder not on his own account but exclusively in
his capacity of Manager of BANCO BPM S.P.A., with registered office at Piazza F. Meda 4, MILAN, ABI 05034 Tax Code and Registration number in the Milan Monza Brianza Lodi Companies Register 09722490969 – Representative of the Banco BPM VAT
Group – VAT No. 10537050964, fully paid in share capital equal to EUR 7,100,000,000, Member of the Interbank Deposit Protection Fund and the National Guarantee Fund, Parent Company of the Banco BPM Banking Group, registered at number 8065
in Bank of Italy’s Register of Banks and at number 237 in the Register of Banking Groups, hereinafter referred to as “Bank”, by virtue of the powers assigned to him under the special power of attorney issued by the Chairman of
the Bank’s Board of Directors on 8 September 2020 by deed under the hand and seal of Notary Public Art Paladini of Verona, file no. 25222, Folder no. 12722, registered at the Verona Revenue Agency on 15 September 2020 at no. 26598
series – 1T, the attachment of which is omitted pursuant to Article 36(5-ter) of Italian Decree Law 179/2012 converted into Italian Law 221 of 17 December 2012, amending Article 51 of the Italian Law on Notaries, as it was
registered at the Monza Brianza Lodi Companies Register on 1 October 2020; 

  

	 	-	 	 Giardina Papa Luca born in Limbiate on 29 April 1973, acting hereunder not on his own account but
exclusively in his capacity of Executive Officer by virtue of the Minutes of the meeting of the Board of Directors dated 14 April 2021 and in representation of KALEYRA SPA SOCIETA’ PER AZIONI, with registered office at VIA MARCO
D’AVIANO 2, 20131 MILAN (MI), tax code 0000012716960153, VAT No. 12716960153 and registration number in the MILAN (MI) Companies Register 0000012716960153, fully paid in share capital EUR 111,000.00, hereinafter referred to as
“Borrower”; 

 on the other 
 (the
Bank, the Borrower hereinafter jointly referred to as the “Parties”) 
 Whereas 

 

	 	–	 	 by deed dated 20 March 2020 BANCO BPM S.P.A. (hereinafter the “Bank”) granted the Borrower an
Unsecured Loan of €6,000,000.00 (EUR six million/00) (hereinafter referred to as the “Loan Agreement” or the “Loan”), to support the Borrower’s financial requirements; 

 

	 	–	 	 the Agreement set out the procedures for using the amounts made available by the Bank, the procedures for
determining the interest rate, the duration of the repayment of the disbursed amount of EUR 6,000,000.00 in 45 months through the payment of 15 deferred quarterly instalments, starting on 30 September 2020 and ending on 31 March 2024
(hereinafter the “Repayment Plan”); 

  

	 	–	 	 the Borrower fully paid the Loan repayment instalments up until the instalment due on 31 December 2020,
therefore as at today’s date, as a result of the non-repayments, the outstanding principal still to be repaid to the Bank totals €5,232,681.41 (EUR five million two hundred and thirty-two thousand six hundred and eighty-one.41), hereinafter referred to as “Outstanding Principal” (amount to be specified on the date of conclusion
taking into account the last duly paid instalment); 

  
  

			
	 BANCO BPM S.p.A.
 Parent Company
of the BANCO BPM Banking Group
 Reg. office: Piazza F. Meda, 4 - 20121 Milan – Tel. +39 02 77001

Admin. office: P.zza Nogara, 2 - 37121 Verona – Tel. + 39 045 8675111

www.bancobpm.it
	  	Fully paid in share cap. as at 4.4.2020 EUR 7,100,000,000.00 – ABI 05034 Tax Code and Reg. no. in Milan Companies Register 09722490969 – Representative of the Banco BPM VAT Group – VAT No. 10537050964 – Member
of the Interbank Deposit Protection Fund and the National Guarantee Fund Registered in Bank of Italy’s Register of Banks and in the Register of Banking Groups

 Banco BPM Group – Internal Use 

[on headed paper of] 
 BANCO BPM

  

	 	–	 	 the Borrower has asked the Bank to be granted a suspension of the terms of payment of the principal components
included in the repayment instalments, already expired and not paid and those due to expire up to 30 June 2021, with the understanding that the Loan must be fully repaid by the final expiry date of 30 September 2024; 

 

	 	–	 	 the Bank intends to grant the Borrower’s request according to the procedures agreed below.

 Now therefore, without prejudice to all the provisions of the Loan Agreement specified in greater detail above [and the guarantee
and expressly confirmed between the Parties], and excluding any intention to novate the relationship established with the aforesaid Loan Agreement, the Parties hereby set out the terms and procedures for repayment of the amounts that have
already expired and have not been paid and those due to expire in accordance with agreements hereunder. 
 Article 1. Summary document 

The recitals form an integral and essential part of this agreement. 

In compliance with the laws on transparency of the contractual conditions of banking transactions and services referred to in Resolution of the
Interministerial Committee for Credit and Savings dated 4 March 2003 and subsequent provisions of the Bank of Italy, a “Summary Document” is attached to this agreement, constituting its title page and forming an integral part thereof,
stating the economic conditions applied to this transaction. 
 The Annual Percentage Rate of Charge (APRC) is equal to 3.3661%. 

The Parties acknowledge that, at the time this agreement is signed, the economic conditions agreed cannot be higher than the threshold rate established in the
quarter in progress for the specific category of lending transactions pursuant to Italian Law 108 of 7 March 1996, containing provisions on usury. 

Article 2. Suspension of payment of the principal component only of the instalments 

Without prejudice to the Borrower’s obligation to pay the Bank the interest component due in relation to the Outstanding Principal at the original due
dates, the Parties agree that the payment of the principal component of the Loan instalments shall be suspended for a period of 6 months, from the instalment expired/due on 31 March 2021 until the instalment expiring/due on 30 June 2021
included. 
 When signing this agreement the Borrower shall pay the Bank the interest components that have already expired. 

The instalments which, according to the criteria determined in the loan agreement, shall expire during the period of suspension from the instalment due on
31 March 2021 to the instalment due on 30 June 2021, shall consist only of the interest component due from the Borrower to the Bank on the Outstanding Principal, which the Borrower therefore undertakes to pay at the aforesaid due dates as
per the repayment plan attached hereto. 
 The suspension of payment of the principal component of the instalments shall cause postponement of the expiry of
the repayment plan for an equivalent period of 6 months. 
 It is understood that, once the suspension period has terminated, that is, as from the
instalment expiring on 30 September 2021, the Borrower shall resume payment of the deferred quarterly instalments, inclusive of the principal component and the interest component, calculated according to the straight line repayment method, the
first of which expiring on 30 September 2021 and the last on 30 September 2024, as stated in the repayment plan which, signed by the contracting parties, is attached hereto under letter “_A”, forming an integral and essential
part hereof. 
 The Borrower recognises and acknowledges that, as a variable interest rate has been agreed, in the event of an increase or decrease in the
interest rate quoted, the Bank shall redetermine the loan repayment plan, taking the outstanding capital as original ‘capital’, the outstanding period as ‘duration’ and the rate quoted as above as ‘interest
rate’. 
  

			
	 BANCO BPM S.p.A.
 Parent Company
of the BANCO BPM Banking Group
 Reg. office: Piazza F. Meda, 4 - 20121 Milan – Tel. +39 02 77001

Admin. office: P.zza Nogara, 2 -37121 Verona – Tel. + 39 045 8675111

www.bancobpm.it
	  	Fully paid in share cap. as at 4.4.2020 EUR 7,100,000,000.00 – ABI 05034 Tax Code and Reg. no. in Milan Companies Register 09722490969 – Representative of the Banco BPM VAT Group – VAT No. 10537050964 – Member
of the Interbank Deposit Protection Fund and the National Guarantee Fund Registered in Bank of Italy’s Register of Banks and in the Register of Banking Groups

 Banco BPM Group – Internal Use 

[on headed paper of] 
 BANCO BPM

  
 This repayment plan must therefore be considered as
‘approximate’, as it only aims to provide an idea of the amount of each instalment if the interest rate quoted upon conclusion of the agreement were to remain unchanged for the entire repayment period and does not therefore aim to
establish the precise final amount of each instalment, as it may vary, in relation to both the principal component and the interest component, and therefore in relation to the overall amount of each individual instalment. 

The Borrower undertakes to pay the instalments upon expiry of the due dates agreed above without the need for a prior request from the Bank. 

Article 3. Receipts 
 During the period of suspension of
payment of the principal component of the instalments referred to hereunder, the Bank shall issue payment receipts to the Borrower only for the amounts actually paid by way of interest and the Borrower acknowledges this fact. 

Article 4. Exclusion of any intention to novate the agreement and confirmation of the guarantees 

With the exception of what has been agreed hereunder, all the agreements, clauses and conditions laid down in the Loan Agreement and in the other deeds
specified in greater detail in the Recitals are expressly confirmed and shall remain valid and unchanged. The ancillary character of the above amendments is also confirmed and any intention of novating the agreement is expressly excluded. 

Any guarantees originally provided, including by third parties, shall continue to secure the Loan, as extended in its terms hereunder, without any formality
being required. The Borrower and/or the Guarantor confirms/confirm in any case, also pursuant to and for the purposes of Article 1232 of the Italian Civil Code, all the guarantees originally provided to secure the Loan. 

Article 5. Regular communications to customers 
 Pursuant
to and for the purposes of Article 119 of the Consolidated Banking Law, the Bank shall provide the Borrower, upon expiry of the agreement and in any case at least once a year, with a detailed communication containing full and clear information on
the progress of the relationship and an updated overview of the economic conditions applied. These regular communications may be sent in paper or electronic format and the cost of the regular customer communications in paper format is equal to
€1.25. 
 The Borrower expressly declares that it would like to receive the regular communications in electronic format. At any time during the
relationship the Borrower is entitled to change the communication technique used, by sending a specific request by registered letter to the branch where the relationship is held. 

If the communications are sent to the Company by electronic means the Bank shall not apply any cost or charge for sending these communications. 

However, if the Company requests the communications to be sent with a different and greater frequency than stated above, or requests the communications to be
sent using different means to those contractually provided, the Bank may charge the contractually established costs stated in the Summary Document for sending paper communications. 

The Bank shall provide the Borrower, in the regular communication sent on an annual basis, with a recapitulative statement of all the movements, amounts
charged and any other information of relevance for understanding the performance of the relationship, as amended pursuant to the agreement. 
 Article 6.
Termination of effect 
 The Borrower acknowledges that the failure to comply with the payment obligation laid down hereunder, and the occurrence of one
of the possible cases of enforcement of the acceleration clause or of automatic termination of the Loan Agreement specified in greater detail in the Recitals, to be deemed set out here in full, shall cause termination of the effect of this
Agreement. In such case the Borrower shall be obliged to immediately pay the Bank all the amounts due in relation to the outstanding debt and to this Agreement, according to the procedures specified therein. 

 
  

			
	 BANCO BPM S.p.A.
 Parent Company
of the BANCO BPM Banking Group
 Reg. office: Piazza F. Meda, 4 - 20121 Milan – Tel. +39 02 77001

Admin. office: P.zza Nogara, 2 -37121 Verona – Tel. + 39 045 8675111

www.bancobpm.it
	  	Fully paid in share cap. as at 4.4.2020 EUR 7,100,000,000.00 – ABI 05034 Tax Code and Reg. no. in Milan Companies Register 09722490969 – Representative of the Banco BPM VAT Group – VAT No. 10537050964 – Member
of the Interbank Deposit Protection Fund and the National Guarantee Fund Registered in Bank of Italy’s Register of Banks and in the Register of Banking Groups

 Banco BPM Group – Internal Use 

[on headed paper of] 
 BANCO BPM

  
 Article 7. Borrower’s rights 

There shall be no prejudice to any rights that may have been granted to the Borrower in the Loan Agreement and in the subsequent deeds of disbursement and
receipt mentioned in greater detail in the Recitals, with regard to the possibility to make early partial or total repayments of the Loan. 
 In the event
of partial early repayments, when allocating the sum repaid the Bank shall however be entitled to prioritise the payment of Deferred Instalments. Once the Deferred Instalments have been paid, the payments shall be allocated to the Outstanding
Principal, in which case the effect of each partial payment shall be to reduce the amount of the subsequent instalments without prejudice to the number of instalments, unless otherwise agreed between the Bank and the Borrower. 

When the conditions established by Article 120-quater of Italian Legislative Decree 385/1993 are met, the Customer may transfer the Loan Agreement
(“portability”) to another intermediary without paying any penalty or charge of any kind. 
 Article 8. Taxation 

Considering that the Loan was subject to substitute tax pursuant to Articles 15 et seq. of Italian Presidential Decree 601 of 29 September 1973, as far as
may be necessary, the Parties continue to opt, pursuant to Article 17 of Italian Presidential Decree 601/1973, as amended by Italian Decree Law 145 of 23 December 2013, to subject this agreement to the substitute tax regime referred to in the
aforesaid Articles 15 et seq. of Italian Presidential Decree 601/1973, and therefore this Agreement is exempt from registration tax, stamp duty, mortgage and cadastral taxes. 

All the costs and any fiscal or other charges relating to or arising from this Agreement shall in any case be borne by the Borrower. 

Article 9. Delivery of copy of the agreement 
 Pursuant to
the Bank of Italy’s provisions on “Transparency of banking and financial transactions and services”, the Borrower declares that it took advantage / did not take advantage of the right to obtain a copy of the agreement to
be concluded or of a draft agreement without the economic conditions and of an estimate containing the economic conditions based on the information provided by the Borrower. 

Article 10. Governing law – Complaints – Means of extrajudicial protection – Mediation for conciliation – Condition for pursuing action
– Jurisdiction 
 The Parties agree that this Agreement is governed by Italian law. 

The Bank informs the Borrower, and any Guarantor/s, that if a dispute arises following the conclusion of this Agreement and related and consequent deeds, the
Borrower and the Guarantor/s may: 
  

	a)	 lodge a complaint with the Bank in accordance with the procedures specified at the branches or on the
institutional website of the Banco BPM Group (https://gruppo.bancobpm.it). 

 The Bank must reply within sixty days of
receipt; 
  

	b)	 if the Borrower, and the Guarantor/s, is/are not satisfied with the outcome of the complaint or did not receive
a reply within the time limit established by applicable legislation, it/they may apply, pursuant to Article 128-bis of Italian Legislative Decree 385 of 1 September 1993, to the Arbitro Bancario Finanziario (Banking and Financial
Ombudsman), free phone number 800196969, (hereinafter “ABF”) if the claim is worth less than EUR 200,000/00 (two hundred thousand/00), or entails the request of a sum of money or without any limitation on the amount in all other
cases. Information on how to apply to the ABF and on its area of competence can be found on the website www.arbitrobancariofinanziario.it, or may be requested from the branches of the Bank of Italy or from the Bank. 

If the Borrower, and the Guarantor/s, submits/submit an application to the ABF it/they must promptly inform the Bank, sending it a copy of the
application by registered letter with return receipt or by certified email. 
 Applications to the ABF cannot be submitted more than twelve
months after the compliant referred to in point a) above was lodged, without prejudice to the possibility for the Borrower, and the Guarantor/s, to lodge a new complaint to the Bank concerning the same matter raised in the previous complaint. The
ABF’s decision shall not prejudice the possibility of applying to the judicial authority. 
  

			
	 BANCO BPM S.p.A.
 Parent Company
of the BANCO BPM Banking Group
 Reg. office: Piazza F. Meda, 4 - 20121 Milan – Tel. +39 02 77001

Admin. office: P.zza Nogara, 2 -37121 Verona – Tel. + 39 045 8675111

www.bancobpm.it
	  	Fully paid in share cap. as at 4.4.2020 EUR 7,100,000,000.00 – ABI 05034 Tax Code and Reg. no. in Milan Companies Register 09722490969 – Representative of the Banco BPM VAT Group – VAT No. 10537050964 – Member
of the Interbank Deposit Protection Fund and the National Guarantee Fund Registered in Bank of Italy’s Register of Banks and in the Register of Banking Groups

 Banco BPM Group – Internal Use 

[on headed paper of] 
 BANCO BPM

  
 As an alternative to the above and without having to lodge a complaint, 

 

	c)	 the Borrower, and the Guarantor/s, may initiate the mediation procedure. The Bank is entitled to the same
right. For this purpose the Parties agree to initiate the mediation procedure with the Banking Conciliation Body constituted by the Conciliatore Bancario Finanziario – Association for resolving banking, financial and corporate disputes –
ADR, registered in the register of conciliation bodies held by the Ministry of Justice (hereinafter “CBF”), the body that specialises in banking and financial disputes and has a widespread network of conciliators throughout the
country (information can be found on the website www.conciliatorebancario.it). 

 The procedure before the ABF or the procedure before the
CBF referred to in points b) or c) above also fulfils the condition for pursuing legal actions concerning banking agreements set out in Article 5(1-bis) of Italian Legislative Decree 28 of 4 March 2010. In the event of a change in the
aforesaid legislation, the provisions in force from time to time shall apply. 
 Without prejudice to the mandatory jurisdiction established by law for
interim and enforcement procedures, any dispute relating to the interpretation, conclusion, performance or termination of this Agreement shall be submitted to the exclusive jurisdiction of the Court of Milan. 

This shall not prejudice the Bank’s right to apply to any other competent court pursuant to law. 

Article 11. Supervisory authority 
 The Bank is subject to
the controls exercised by the Bank of Italy, with registered office at Via Nazionale 91, 00184 ROME. 
  

			
	 The Borrower
	  	 [stamp of Kaleyra S.P.A.]

		
	 Date 15/04/2021
	  	
Address                 
                                         
                                         
                             

		
	 Signature (illegible)
	  	 Place and date of
birth                                       
                                         
                          

		
	
Date                  
  
	  	
Address                 
                                         
                                         
                             

		
	
Signature            
	  	 Place and date of
birth                                        
                                         
                         

 Milan, 15 April 2021 
 The
Bank (illegible signature) 
  

			
	 BANCO BPM S.p.A.
 Parent Company
of the BANCO BPM Banking Group
 Reg. office: Piazza F. Meda, 4 - 20121 Milan – Tel. +39 02 77001

Admin. office: P.zza Nogara, 2 -37121 Verona – Tel. + 39 045 8675111

www.bancobpm.it
	  	Fully paid in share cap. as at 4.4.2020 EUR 7,100,000,000.00 – ABI 05034 Tax Code and Reg. no. in Milan Companies Register 09722490969 – Representative of the Banco BPM VAT Group – VAT No. 10537050964 – Member
of the Interbank Deposit Protection Fund and the National Guarantee Fund Registered in Bank of Italy’s Register of Banks and in the Register of Banking Groups

 Banco BPM Group – Internal Use 

[on headed paper of] 
 BANCO BPM

  
 I/we hereby declare to specifically approve – pursuant to and for
the purposes of Article 1341(2) of the Italian Civil Code, the following clauses set out above: Article 6. Termination of effect, Article 10. Governing law – Complaints – Means of extrajudicial protection – Mediation for
conciliation – Condition for pursuing action – Jurisdiction 
  

			
	 The Borrower
	  	 [stamp of Kaleyra S.P.A.]

		
	 Date 15/04/2021
	  	
Address                 
                                         
                                      

		
	 Signature (illegible)
	  	 Place and date of
birth                                       
                                   

		
	
Date                  
  
	  	
Address                 
                                         
                                      

		
	
Signature            
	  	 Place and date of
birth                                        
                                  

  

			
	 BANCO BPM S.p.A.
 Parent Company
of the BANCO BPM Banking Group
 Reg. office: Piazza F. Meda, 4 - 20121 Milan – Tel. +39 02 77001

Admin. office: P.zza Nogara, 2 -37121 Verona – Tel. + 39 045 8675111

www.bancobpm.it
	  	Fully paid in share cap. as at 4.4.2020 EUR 7,100,000,000.00 – ABI 05034 Tax Code and Reg. no. in Milan Companies Register 09722490969 – Representative of the Banco BPM VAT Group – VAT No. 10537050964 – Member
of the Interbank Deposit Protection Fund and the National Guarantee Fund Registered in Bank of Italy’s Register of Banks and in the Register of Banking Groups

 Banco BPM Group – Internal Use 

[on headed paper of] 
 BANCO BPM

  
 Agreement to suspend payment of the Principal Component of
the repayment instalments (with possible extension of the duration) of Unsecured Loan 
 Summary Document 

The Customer’s attention is drawn to the following information. 

Economic conditions applied to Unsecured Loan Agreement no. 045-4629747 arising from this Agreement. 

 

			
	 	 
	Mortgage Number	  	045-4629747
	 	 
	Original Principal Amount	  	EUR 6,000,000.00
	 	 
	Principal Amount outstanding as at 01/01/2021	  	EUR 5,232,681.41
	 	 
	Number of instalments outstanding	  	13
	 	 
	Repayment frequency	  	Quarterly
	 	 
	Interest rate applied to borrowed principal	  	2.46300%
	 	 
	Instalment collection charges	  	EUR 2.75
	 	 
	APRC	  	3.3661%

 The Parties acknowledge that, at the time this agreement is signed, the economic conditions agreed cannot be higher than the
threshold rate established in the quarter in progress for the specific category of lending transactions pursuant to Italian Law 108 of 7 March 1996, containing provisions on usury. 

 

			
	[illegible signature]	  	[stamp of Kaleyra S.P.A.]
		
		  	    [illegible signature]

  

			
	 BANCO BPM S.p.A.
 Parent Company
of the BANCO BPM Banking Group
 Reg. office: Piazza F. Meda, 4 - 20121 Milan – Tel. +39 02 77001

Admin. office: P.zza Nogara, 2 -37121 Verona – Tel. + 39 045 8675111

www.bancobpm.it
	  	Fully paid in share cap. as at 4.4.2020 EUR 7,100,000,000.00 – ABI 05034 Tax Code and Reg. no. in Milan Companies Register 09722490969 – Representative of the Banco BPM VAT Group – VAT No. 10537050964 – Member
of the Interbank Deposit Protection Fund and the National Guarantee Fund Registered in Bank of Italy’s Register of Banks and in the Register of Banking Groups

 NDG 16251758 – DATE 15/04/2021 

 
 [on headed paper of] 

BANCO BPM 
 Banco BPM S.p.A. Parent Company
of the BANCO BPM Banking Group – Registered office: Piazza F. Meda, 4 – 20121 Milan – Tel. +39 02 77001 Administrative office: Piazza Nogara, 2 – 37121 Verona – Tel. + 39 045 8675111 www.bancobpm.it Fully paid in share cap.
as at 6.4.2019 EUR 7,100,000,000.00 – ABI 05034 Tax Code and Reg. no. in Milan Companies Register 09722490969 – Representative of the Banco BPM VAT Group – VAT No. 10537050964 – Member of the Interbank Deposit Protection Fund and
the National Guarantee Fund Registered in Bank of Italy’s Register of Banks and in the Register of Banking Groups – Stamp duty paid electronically, where due, Italian Revenue Agency Milan Office 5 Authorisation no. 3358 of 10/01/2017. 

REPAYMENT PLAN for POST DISBURSEMENT AMENDMENTS 

DATE 15/04/2021            Branch
1726                SEGRATE – SAN
FELICE                                        
    START DATE 01/01/2021 
 NDG
16251758                Name KALEYRA
SPA                                         
                                       Relationship
No. 04629747 
 Type of loan        GENERIC UNSECURED LOAN 

Outstanding debt:        5,232,681.41 

Type of financial plan        Straight line 

REPAYMENT:        start date:    01/01/2021        number
of instalments:    15        frequency: Quarterly        duration in months:  45 

RATES APPLIED    from: 01/01/2021 – 2.4620%        Type of rate Variable 

                          
                                         
                     Indexation parameter: DL3        (description
attached)            Spread 3.0000% 

APRC    3.3661        Status: UNDER REPAYMENT 

 

																																			
	 Inst.
no.
	 	(P)repay
(R)epay	 	Due date	 	 	Outstanding debt	 	 	Principal component	 	  	Interest component	 	 	Instalment expense
Notice    Collection	 	 	Other
expenses/
contributions	 	 	Instal. amount	 
	—  	 	3A	 	 	31/03/2021	 	 	 	5,232,681.41	 	 	 	0.00	 	  	 	32,207.15	 	 	 	0.00	 	 	 	0.00	 	 	 	4.00	 	 	 	32,211.15	 
	—  	 		 				 	 	the interest accrued shall be collected as per supplementary deed	 
	—  	 	4A	 	 	30/06/2021	 	 	 	5,232,681.41	 	 	 	0.00	 	  	 	32,578.24	 	 	 	0.00	 	 	 	0.00	 	 	 	4.00	 	 	 	32,582.24	 
	—  	 		 				 	 	the interest accrued shall be collected as per supplementary deed	 
	—  	 	5A	 	 	30/09/2021	 	 	 	5,232,681.41	 	 	 	387,856.05	 	  	 	32,936.24	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,796.29	 
	—  	 	6A	 	 	31/12/2021	 	 	 	4,844,825.36	 	 	 	390,244.28	 	  	 	30,494.95	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,743.23	 
	—  	 	7A	 	 	31/03/2022	 	 	 	4,454,581.08	 	 	 	392,647.21	 	  	 	27,429.08	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,080.29	 
	—  	 	8A	 	 	30/06/2022	 	 	 	4,061,933.87	 	 	 	395,064.93	 	  	 	25,289.26	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,358.19	 
	—  	 	9A	 	 	30/09/2022	 	 	 	3,666,868.94	 	 	 	397,497.54	 	  	 	23,080.50	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,502.04	 
	—  	 	10A	 	 	31/12/2022	 	 	 	3,269,371.40	 	 	 	399,945.14	 	  	 	20,578.51	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,527.65	 
	—  	 	11A	 	 	31/03/2023	 	 	 	2,869,426.26	 	 	 	402,407.80	 	  	 	17,668.49	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,080.29	 
		 	12A	 	 	30/06/2023	 	 	 	2,467,018.46	 	 	 	404.885.62	 	  	 	15,359.45	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,249.07	 
	—  	 	13A	 	 	30/09/2023	 	 	 	2,062,132.84	 	 	 	407,378.71	 	  	 	12,979.75	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,362.46	 
	—  	 	14A	 	 	31/12/2023	 	 	 	1,654,754.13	 	 	 	409,887.14	 	  	 	10,415.57	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,306.71	 
	—  	 	15A	 	 	31/03/2024	 	 	 	1,244,866.99	 	 	 	412.411.02	 	  	 	7,750.44	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420.165.46	 
	—  	 	16A	 	 	30/06/2024	 	 	 	832,455.97	 	 	 	414,950.44	 	  	 	5,185.80	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,137.24	 
	—  	 	17A	 	 	30/09/2024	 	 	 	417,505.53	 	 	 	417,505.53	 	  	 	2,627.92	 	 	 	1.25	 	 	 	2.75	 	 	 	0.00	 	 	 	420,137.45	 
		 		 				 				 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 
	 TOTALS:
	 				 				 	 	5,232,681.41	 	  	 	296,578.35	 	 	 	16.25	 	 	 	035.75	 	 	 	8.00	 	 	 	5,529,319.76	 
		 		 				 				 	  
	  
	 	  	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 	 	  
	  
	 

  

			
	[illegible signature]	  	[stamp of Kaleyra S.P.A.]
		
		  	    [illegible signature]

 Signed by way of acceptance and approval by the Financed Party/Borrower 

 
  

 

			
	Mortgages – REPAYMENT PLAN for POST DISBURSEMENT AMENDMENTS	  	
                       
                     COPY FOR THE CUSTOMER

 NDG 16251758 – DATE 15/04/2021 

 
 REPAYMENT PLAN cont.d 

ATTACHMENT 
 INDEXATION PARAMETERS 

code DL3 
 QUARTERLY QUOTATION OF THE EURIBOR 3 MONTH
ACT/360 VALUE DATE END OF BUSINESS CALENDAR QUARTER 
  
 Signed by way of
acceptance and approval by the Financed Party/Borrower 
  

 
  

			
	Mortgages – REPAYMENT PLAN for POST DISBURSEMENT AMENDMENTS	  	
                       
                     COPY FOR THE CUSTOMEREX-10.2

 Exhibit 10.2 

[on headed paper of] 
 Sace Simest 

gruppo cdp 
 Financing and
Co-financing for the implementation of a programme to break into foreign markets 

KALEYRA S.P.A. 
 To be sent by
certified email to the following address: kaleyra@legalmail.it 
 Outcome of Application – Agreement Proposal – Special Conditions 

In this document any term that is not otherwise defined shall have the meaning assigned to it in the General Conditions. 

Simest trans. no. 10782/IM/FP 
 Financing and Co-financing approved: €3,000,000.00 
 Ref. RNA – COR: 5008934 

Application received on 22 September 2020 
  

With regard to the aforesaid transaction, we hereby inform you that in the meeting held on 31 March 2021 the Subsidies Committee resolved to grant the
Financing and Co-financing for a total amount of €3,000,000.00, of which €421,876.65 applying to the Fund for Integrated Promotion (non-refundable Co-financing) and €2,578,123.35 to the Fund 394/81 (Financing), with regard to a programme of the same amount to be implemented in the United States at the following conditions: 

 

	 	1.	 Description of the initiative 

Structure upgrade – direct management; 

premises: rented office (USA); 

foreign staff: 14 resources. 
  

	 	2.	 Guarantees to be provided: exempt by virtue of the request made pursuant to Article 48(2)(d) of Italian
Decree Law 34 of 19 May 2020. 

  

	 	3.	 Conditions precedent 

    for the first Disbursement: 

 

	 	a.	 true copy of the original rental contract for the premises 

 

	 	b.	 statutory declaration of the amounts granted pursuant to Section 3.1 of the Temporary Framework compiled
in all its parts and digitally signed by the official representative, at the following link
https://www.simest.it/docs/default-source/simest/documenti-pagine-prodotto-simest/dichiarazione-sostitutiva-per-l’erogazione-del-

cofinziamento-a-fondo-perduto-in-tf.docx.

 These conditions must be met within 3 (three) months of the Completion Date, under penalty of revocation of the
Financing and the Co-financing. 
  

					
	SIMEST SPA	    		    	
	Società italiana per le imprese all’estero	    	Fully paid-in share cap €164,646,231.88	    	
	Corso Vittorio Emanuele II, 323 00186 Rome	    	Registered in the Rome Comp. Reg.	    	
	T + 39 06 686351 F + 39 06 68635220	    	Tax Code and VAT No. 04102891001	    	Company subject to the management
	Certified email address: simest@legalmail.it	    	Reg. Rome Ch. Comm. at REA no. 730445	    	and coordination of SACE Spa

 for the second Disbursement: 

 

	 	a.	 delivery, within 25 (twenty-five) months of the Completion Date, digitally signed by the official
representative using the SIMEST Portal. 

  

	 	1)	 Account of all the expenses incurred; 

 

	 	2)	 Final report on the activity performed within the programme and on the promotional results achieved;

  

	 	3)	 Declaration on the necessity of the lump-sum expenses to the programme
and description of use. 

  

	 	b.	 the expenses incurred and accounted for must be at least equal to 40% of the total of Classes 1 and 2 of the
“programme schedule”. 

  

	 	4.	 Interest rates: 

Subsidised Rate: 0.055% 

Reference Rate: 0.55% 
  

	 	5.	 De minimis subsidy: €132,333.00 

 

	 	6.	 Aid pursuant to Section 3.1 of the Temporary Framework on State Aid Measures €421,876.65

  

	 	7.	 Procedures for disbursement of the Financing 

For the first Disbursement. SIMEST shall disburse by way of advance 50% of the pro rata amount of the Financing and, where provided, of
the approved Co-financing referring to expense classes I and II, within 30 (thirty) days of satisfaction of the conditions precedent. 

For the second Disbursement. SIMEST shall disburse pro rata on the Financing and, where provided, on the
Co-financing the balance of the amount accounted for in respect of the class I and II expenses incurred and the share of the lump-sum expenses equal to a maximum of 20%
of the total class I and II expenses accounted for within thirty days of the successful satisfaction of the related conditions precedent and in any case within 29 (twenty-nine) months of the Completion Date. 

The effective percentage of the maximum share of 20% that can be recognised as a lump-sum, is
determined by comparing the amount of the accounted class I and II expenses to the amount of the expenses of the same classes approved by the Committee and applying this ratio to the aforesaid maximum share of 20%. 

 

	 	8.	 Communications 

All communications between SIMEST and the Company shall be sent: 
  

	 	(i)	 to SIMEST: 

	 	 	 SIMEST S.p.A. 

	 	 	 Certified email: simest@legalmail.it 

 

	 	(ii)	 to the Company: 

	 	 	 KALEYRA S.p.A. 

	 	 	 kaleyra@legalmail.it 

 It is reminded that: 
  

	 	-	 	 the Financing granted is subject to the “de minimis” rule, set out in Regulation (EU) 1407/2013 of
18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid, published in the OJEU L352 of 24 December 2013; 

 

	 	-	 	 the Co-financing granted is subject to European Commission Communication
C(2020) 1863 final “Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak” and subsequent amendments and supplements (“Temporary Framework”).

 The Application, the General Conditions together with these Special Conditions and Attachment A) “programme schedule”, form
an integral part of the Agreement and are to be considered set out here in full and accepted even if not attached to the Agreement, together with Circular no. 1/394/2020 (the “Circular”) the contents of which are well known to the
Company. 
 That said, you are kindly requested to accept our agreement proposal by and no later than 30 days of the date of receipt of this communication:

  

	 	-	 	 by downloading the Agreement Acceptance document from the SIMEST Portal, without amending it in any way;

  

	 	-	 	 having the Agreement Acceptance document digitally signed by the official representative who signed the
Application Form and the General Conditions of Contract; 

  

	 	-	 	 sending the digitally signed Agreement Acceptance document through the SIMEST Portal. 

If SIMEST does not receive your acceptance by that deadline, the proposal shall be considered without effect. 

On the date that SIMEST receives your acceptance in accordance with the above terms, the Financing Agreement shall be considered completed and that date shall
be the Completion Date. 
 Yours faithfully, 
  

SIMEST SpA 
 Encl. Programme
Schedule 

 Programmes to break into foreign markets 

PROGRAMME SCHEDULE 
  

			
	Countries of destination:	  	Target development countries:
	United States of America	  	//

  

									
	 Class 1(I)
	 
	 Structure functioning expenses
	  	Expected expenditure (two-year period)	 
	  	Amount (€)	 	  	%	 
	 1. Structure expenses
	  				  			
	 1.1 Premises/Equipment
	  	 	135,000.00	 	  	 	4.50	 
	 1.2 Management
	  	 	0.00	 	  	 	0.00	 
	 2. Staff expenses
	  				  			
	 2.1 Staff exclusively abroad
	  	 	1,942,000.00	 	  	 	64.73	 
	 2.2 Staff travel abroad
	  	 	0.00	 	  	 	0.00	 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL CLASS 1
	  	 	2,077,000.00	 	  	 	69.23	 
		  	  
	  
	 	  	  
	  
	 
	
	 Class 2
	 
	 Expenses for promotional activities
	  	Expected expenditure (two-year period)	 
	  	Amount (€)	 	  	%	 
	 3. Training
	  	 	0.00	 	  	 	0.00	 
	 4. Consultancy
	  	 	240,000.00	 	  	 	8.00	 
	 5. Promotional expenses
	  	 	183,000.00	 	  	 	6.10	 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL CLASS 2
	  	 	423,000.00	 	  	 	14.10	 
		  	  
	  
	 	  	  
	  
	 
	 TOTAL CLASS 1 + CLASS 2
	  	 	2,500,000.00	 	  	 	83.33	 
		  	  
	  
	 	  	  
	  
	 

  

					
	
Lump-sum share
	 
	 Lump-sum
expenditure
	  	Amount (€)	 
	 Max 20% of total class 1 + class 2
	  	 	500,000.00	 
	 GENERAL TOTAL PROGRAMME (II)
	  	 	3,000,000.00	 

 (I) 
  

	 	-	 	 The planned Class 1 expenditure must be at least equal to 50% of the Class 1 + Class 2 Total;

  

	 	-	 	 In the final phase the expenses accounted must be at least equal to 40% of the Class 1 + Class 2 Total,
with the understanding that in order to be eligible the Class 1 expenses must represent at least 50%. 

 (II) 

In the final phase all the expenses incurred must be accounted for.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}]]