SEC Contract Filing

Filing Date: 2020-03-17

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>3
<FILENAME>d832180dex103.htm
<DESCRIPTION>EX-10.3
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<TITLE>EX-10.3</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>AMENDMENT OF AWARDS </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, Kaleyra, Inc. (the &#147;<U>Company</U>&#148;) has previously granted and is expected in the future to grant Giacomo
Dall&#146;Aglio (&#147;<U>Recipient</U>&#148;) awards under the Company&#146;s 2019 Equity Incentive Plan (the &#147;<U>EIP</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, all capitalized terms not otherwise defined herein shall be as defined in the EIP; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the EIP in Section&nbsp;7 provides that except as otherwise provided in an Award, in the event of a Covered Transaction in
which there is an acquiring or surviving entity, (a)&nbsp;if an Award is not assumed by the acquiror or survivor in connection with a Covered Transaction or there is otherwise not a substitution of a new Award for the existing Award, the
exercisability of the Award shall accelerate if the Award requires exercise and the delivery of shares shall accelerate for such Awards that are of Stock Units (including Restricted Stock Units), and the Award will terminate upon the consummation of
the Covered Transaction, and (b)&nbsp;otherwise there shall be either an assumption or substitution of a new Award by the acquiror or survivor or an affiliate of the acquiror or survivor, but no provision for acceleration of the exercisability or
delivery of shares; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Administrator of the EIP would like to offer Recipient alternative vesting acceleration under
the Awards previously granted or to be granted as described below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>THEREFORE, THE COMPANY AND RECIPIENT AGREE AS FOLLOWS: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. Notwithstanding any existing provisions of the EIP or the notice of grant of an Award to the contrary, in the event of a Covered Transaction
in which the Award (the &#147;<U>Original Award</U>&#148;) is assumed or substituted for with an equivalent Award by the successor corporation or a parent or subsidiary of such successor corporation, <U>and</U>&nbsp;Recipient&#146;s employment is
involuntarily terminated without Cause or the Recipient terminates employment for Good Reason within the twelve (12)&nbsp;months following the Covered Transaction, then 100% of the remaining unvested Award shall become vested and immediately
exercisable for the duration of the exercise period otherwise applicable to such Original Award prior to the assumption or substitution under the EIP or notice of grant of the Award if the Award requires exercise, and 100% of the remaining
undelivered shares shall be delivered for such Awards that are of Stock Units (including Restricted Stock Units). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. For the purposes of
this Amendment of Awards (the &#147;<U>Amendment</U>&#148;), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) &#147;<U>Cause</U>&#148; shall be limited to:
(i)&nbsp;the Recipient&#146;s indictment, charge or conviction of, or plea of nolo contendere to, (A)&nbsp;a felony or (B)&nbsp;any other crime involving fraud or material financial dishonesty or (C)&nbsp;any other crime involving moral turpitude
that might be reasonably expected to, or does, materially adversely affect the Company or any of its Affiliates, whether that effect is to economics, to reputation or otherwise; (ii)&nbsp;the Recipient&#146;s gross negligence or willful misconduct
with regard to the Company or any of its Affiliates, which has a material adverse impact on Company or any of its Affiliates, whether economic or to reputation or otherwise; (iii)&nbsp;Recipient&#146;s refusal or willful failure to substantially
perform his or her duties or to follow a material lawful </P>
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written directive of the CEO or the Board within the scope of the Recipient&#146;s duties hereunder which refusal or failure remains uncured or continues thirty (30)&nbsp;days after written
notice from the CEO or the Board which references the potential for a &#147;for Cause&#148; termination and specifies in reasonable detail the nature of the refusal or willful failure which must be cured; (iv)&nbsp;Recipient&#146;s theft, fraud or
any material act of financial dishonesty related to the Company or any of its Affiliates; (v)&nbsp;the failure by the Recipient to disclose any legal impediments to his or her employment by the Company or his or her breach of any of his or her
obligations to a former employer in connection with his or her employment by the Company (e.g., his or her disclosure or use of proprietary confidential information of a former employer o