AMENDMENT NO. 2 TO FORWARD SHARE PURCHASE AGREEMENT
This Amendment No. 2 to Forward Share Purchase Agreement (this Amendment) is entered into as of December 13, 2019, by and among Kaleyra, Inc. (f/k/a GigCapital, Inc.), a Delaware corporation (the Company), Kepos Alpha Fund L.P., a Cayman Islands limited partnership (KAF). All capitalized terms used herein and not defined shall have the meanings ascribed to them in the Purchase Agreement (as defined below).
WHEREAS, the Company and KAF desire to amend the Forward Stock Purchase Agreement (the Purchase Agreement), dated October 1, 2019, as amended on October 2, 2019, as provided below.
NOW, THEREFORE, in consideration of the premises, representations, warranties and the mutual covenants contained in this Amendment, and for other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows:
1. Amendment to Purchase Agreement.
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Section 1.a. of the Purchase Agreement is hereby amended and restated in its entirety as follows:
a. Forward Share Purchase. Subject to the conditions set forth in Section 4, KAF shall sell and transfer to the Company, and the Company shall purchase from KAF, that number of Shares that the Rights (including the Additional Rights (as defined below)) convert into upon the closing of the Business Combination at the following purchase price: (1) $10.70 per Share for the first 102,171 Shares sold to the Company; and (2) $10.50 per Share for the next 93,676 Shares sold to the Company (collectively, the Share Purchase Price).
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Section 4.c. of the Purchase Agreement is hereby amended and restated in its entirety as follows:
c. Open Market Sale. Notwithstanding anything to the contrary herein, the parties agree that KAF shall after the closing of the Business Combination have the right but not the obligation to sell its Shares that the Rights convert into in blocks of at least 25,000 Shares (the Minimum Block Size Condition) in the open market if the sale price exceeds $8.50 per Share, or, without meeting the Minimum Block Size Condition, KAF shall have the right but not the obligation to sell any or all of its Shares that the Rights convert into in the open market if the share price equals or exceeds $10.50 per Share. In furtherance of the foregoing, KAF shall have the right to sell such Shares at any time provided that the price received by KAF (not including any commissions due by KAF for the sale) is at least $10.50 (or at least $8.50 if KAF meets the Minimum Block Size Condition). In the event that KAF sells any Shares (including and Additional Shares), as provided in this Section 4.c., at a sale price of less than $10.50, and provided that KAF meets the Minimum Block Size Condition, it shall provide notice to the Company within three (3) Business Days of such sale, and such notice shall include the date of the sale, the number of Shares sold, and confirmation that the sale price per Share was greater than $8.50, and the Company shall pay KAF in accordance with KAFs written instructions an amount equal to (x) the number of Shares (including any Additional Shares) sold multiplied by (y) the amount by which $10.50 exceeds the sale price per Share.
2. Effect of Amendment. Except as specifically set forth in this Amendment, all the terms, conditions and covenants set forth in the Purchase Agreement shall remain unmodified and in full force and effect and are ratified in all respects.