EXHIBIT 10.5
Debt Resolve, Inc.
707 Westchester Avenue, Suite L7
White Plains, New York 10604
 
Ladies and Gentlemen:
 
The undersigned, an owner of a 15% senior secured convertible promissory note
(the “Note”) of Debt Resolve, Inc., a Delaware corporation (the “Company”), in
the principal face amount of $_______________________ and a warrant (the
“Warrant”) to purchase __________________________ shares of common stock, par
value $.001 per share, of the Company (“Common Stock”), understands that the
Company proposes to file with the U.S. Securities and Exchange Commission a
registration statement for the registration of Common Stock of the Company (the
“Registration Statement”) in connection with a proposed public offering of such
Common Stock (the “Offering”). The undersigned further understands that the
Company and Maxim Group LLC (the “Underwriter”) intend to enter into an
underwriting agreement relating to the Offering upon the effectiveness of the
Registration Statement (the “Underwriting Agreement”).
 
In order to induce the Underwriter to proceed with the Offering, the undersigned
agrees, for the benefit of the Company and the Underwriter, that should the
Offering become effective, the undersigned will not, without the Underwriter’s
prior written consent (and, if required by applicable state blue sky laws, the
securities commissions in any such states), offer, sell, assign, hypothecate,
pledge, transfer or otherwise dispose of, directly or indirectly, (i) any of the
Notes, or any shares of Common Stock issued in connection with the conversion of
the Notes, or by reason of any stock split or other distribution of stock, or
grant of options, warrants or other rights with respect to any such options, all
during the six-month period commencing on the date the Company’s Registration
Statement is declared effective by the Securities and Exchange Commission) (the
“Effective Date”) and (ii) any of the Warrants, or any shares of Common Stock
issued in connection with the exercise of the Warrants, or by reason of any
stock split or other distribution of stock, or grant of options, warrants or
other rights with respect to any such options, all during the six-month period
commencing on the Effective Date; provided that the foregoing shall not apply to
(1) securities of the Company acquired by the undersigned in the Offering or
securities of the Company acquired by the undersigned in the after market after
the Effective Date; and (2) the transfer without consideration to family members
or a trust established for their benefit in connection with which the proposed
transferee agrees in writing to be bound by all of the provisions of this
agreement prior to the consummation of such transfer.
 
Furthermore, the undersigned will permit all certificates evidencing any such
securities to be endorsed with an appropriate restrictive legend reflecting the
terms of this letter, and consents to the placement of appropriate stop transfer
orders with the transfer agent for the Company. A copy of this letter will be
available from the Company or the Company’s transfer agent upon request and
without charge. The terms and conditions of this letter can be modified
(including premature termination of this Agreement) only with the prior written
consent of the Underwriter.
 
 Dated: ___________ ___, 2006
 
 
   

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Printed Name
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