Unsecured Loan Agreement between Jose Galarza and Kalmin Corp. (July 20, 2016)
Jose Galarza, acting as president and treasurer, agrees to loan up to $25,000 to Kalmin Corp. to support its Form S-1 registration process. The loan is unsecured, interest-free, and has no set repayment date or additional terms. Any amount above $25,000 would require a separate written agreement. This agreement is verbal and documents the basic terms of the loan between Mr. Galarza and the company.
VERBAL AGREEMENT
Dated July 20, 2016
This Verbal Agreement (“Agreement”) is made between Jose Galarza, president and treasurer of Kalmin Corp. (“President”) and Kalmin Corp. (“Company”).
This Agreement is witness therefore that President has agreed to loan the Company needed funds, in the amount not more than $25,000 US (“Loan”), which is necessary for the Form S-1 registration process of the Company.
In case if the Company needs more then the Loan, it has to be certified by written agreement.
The Loan is unsecured and does not bear any interest. The Loan does not have the repayment date and other provisions.
/s/ Jose Galarza
Jose Galarza
