Exhibit 10.3


 





LOCK-UP AGREEMENT


 


This Lock-up Agreement (this
 “Agreement”) is made and entered into as of June 13, 2022, by and among (i) Future Health ESG Corp.,
a Delaware corporation (the “Company”), and (ii) each of the parties listed on SCHEDULE 1 attached hereto
(the “Lock-up Equity Holders”). The Lock-up Equity Holders and any person or entity who hereafter enters into
a joinder to this Agreement substantially in the form of EXHIBIT A hereto are referred to herein, individually, as a “Securityholder”
and, collectively, as the “Securityholders.”


 


Capitalized terms used but
not defined herein have the meanings ascribed in the Business Combination Agreement and Plan of Reorganization (the “BCA”)
dated as of the date hereof, entered into by and among the Company, MacArthur Court Acquisition Corp., a California corporation (the “MCAC”),
and Excelera DCE (“Excelera”), a California corporation, pursuant to which the Company will purchase from MCAC,
and MCAC will sell to the Company, 100% of the issued and outstanding shares of Excelera in exchange for shares of common stock of the
Company, which will be re-named Excelera Health, Inc. (the “Business Combination”).


 


WHEREAS, pursuant to the BCA,
and in view of the valuable consideration to be received by the parties thereunder, the parties desire to enter into this Agreement, pursuant
to which the Lock-up Shares (as defined below) shall become subject to limitations on disposition as set forth herein.


 


NOW, THEREFORE, in consideration
of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending to be legally bound
hereby, the parties hereto hereby agree as follows:


 


1.                  Subject
to the exceptions set forth herein, each Securityholder agrees not to (i) sell, offer to sell, contract or agree to sell,
hypothecate, pledge, grant any option, right or warrant to purchase or otherwise transfer, dispose of or agree to transfer or
dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent
position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and the rules and regulations of the Securities and Exchange Commission promulgated thereunder, any shares of
the Company’s Common Stock, par value $0.0001 per share (the “Common Stock”) held by it or issued or
issuable to the Securityholders in connection with the Business Combination (including (A) Common Stock acquired in connection with
the Business Combination, (B) Common Stock acquired through open market purchases as Forward Purchase Shares (as defined in the
Forward Purchase Agreements) or from the Company as additional shares pursuant to certain Forward Purchase Agreements between the
Company and certain investors, (C) Common Stock acquired as part of the Private Placements or issued in exchange for, or on
conversion or exercise of, any securities issued as part of the Private Placements), any shares of Common Stock issuable upon the
exercise of options or warrants to purchase shares of Common Stock held by it, or any securities convertible into or exercisable or
exchangeable for Common Stock held by it (the “Lock-up Shares”), (ii) enter into any swap or other
arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any of the Lock-up
Shares, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise or (iii) publicly
announce any intention to effect any transaction specified in clause (i) or (ii) (the actions specified in clauses (i)-(iii),
collectively, “Transfer”) during the period beginning on the Closing Date and ending on the date described
in paragraph 3 (the “Lock-up Period”).


 






    


     


    

 


2.               The restrictions set forth in paragraph 1 shall not apply to:


 


(i)               
in the case of an entity, a Transfer (A) to another entity that is an affiliate (as defined in Rule 405 promulgated under the Securities
Act of 1933, as amended) of the undersigned, or to any investment fund or other entity controlling, controlled by, managing or managed
by or under common control with the undersigned or affiliates of the undersigned or who shares a common investment advisor with the undersigned
or (B) as part of a distribution to members, partners or shareholders of the undersigned;


 


(ii)             
in the case of an individual, Transfers by bona fide gift to members of the individual’s immediate family (as defined below)
or to a trust, the beneficiary of which is a holder or a member of one of the individual’s immediate family, an affiliate of such
person or to a charitable organization;


 


(iii)           
in the case of an individual, Transfers by virtue of the laws of descent and distribution upon death of the individual;


 


(iv)            
in the case of an individual, Transfers by operation of law or pursuant to a qualified domestic relations order;


 


(v)              in
the case of an individual, Transfers to a partnership, limited liability company or other entity of which the undersigned and/or the
immediate family (as defined below) of the undersigned are the legal and beneficial owner of all of the outstanding equity securities
or similar interests;


 


(vi)           
in the case of an entity that is a trust, Transfers to a trustor or beneficiary of the trust or to the estate of a beneficiary
of such trust;


 


(vii)         
in the case of an entity, Transfers by virtue of the laws of the state of the entity’s organization and the entity’s
organizational documents upon dissolution of the entity;


 


(viii)          Transfers
relating to Common Stock or other securities convertible into or exercisable or exchangeable for Common Stock acquired in open market
transactions after the Closing, provided that no such transaction is required to be, or is, publicly announced (whether on Form 4, Form
5 or otherwise, other than a required filing on Schedule 13F, 13G or 13G/A) during the Lock-up Period;


 


(ix)            
the exercise of stock options or warrants to purchase shares of Common Stock or the vesting of stock awards of Common Stock and
any related transfer of shares of Common Stock to the Company in connection therewith (x) deemed to occur upon the “cashless”
or “net” exercise of such options or warrants or (y) for the purpose of paying the exercise price of such options or warrants
or for paying taxes due as a result of the exercise of such options or warrants, the vesting of such options, warrants or stock awards,
or as a result of the vesting of such shares of Common Stock, it being understood that all shares of Common Stock received upon such exercise,
vesting or transfer will remain subject to the restrictions of this Agreement during the Lock-up Period;


 






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(x)              Transfers to the Company pursuant to any contractual arrangement in effect at the Closing of the Business Combination that provides
for the repurchase by the Company or forfeiture of Common Stock or other securities convertible into or exercisable or exchangeable for
Common Stock in connection with the termination of the Securityholder’s service to the Company;


 


(xi)           
the entry, by the Securityholder, at any time after the Closing of the Business Combination, of any trading plan providing for
the sale of shares of Common Stock by the Securityholder, which trading plan meets the requirements of Rule 10b5-1(c) under the Exchange
Act, provided, however, that such plan does not provide for, or permit, the sale of any shares of Common Stock during the
Lock-up Period, no Transfers under such trading plan are effected prior to the expiration of the Lock-Up Period and no public announcement
or filing is voluntarily made or required regarding such plan during the Lock-up Period;


 


(xii)            Transfers in the event of completion of a liquidation, merger, stock exchange or other similar transaction which results in all
of the Company’s securityholders having the right to exchange their shares of Common Stock for cash, securities or other property;
and


 


(xiii)          Upon ten days prior written notice to the Company, Transfers by MCAC or a shareholder or former shareholder of MCAC (but not a
Transfer to Future Health or an affiliate thereof) of up to twenty percent (20%) of the shares of Common Stock received by MCAC or such
Securityholder to satisfy any U.S. federal, state, or local income tax obligations of MCAC or such Securityholder (or its direct or indirect
owners) arising from the Reorganization, including under the U.S. Internal Revenue Code of 1986, as amended (the “Code”),
or the U.S. Treasury Regulations promulgated thereunder (the “Regulations”), solely and to the extent
necessary to cover any tax liability as a direct result of the Reorganization; provided, that no such Transfer may be made by MCAC
or a shareholder or former shareholder of MCAC to the extent that such Transfer, when taken together with Transfers made by MCAC or other
shareholders or former shareholders of MCAC pursuant to this clause (xiii), would likely result in the Reorganization no longer qualifying
as a “reorganization” under Section 368 of the Code. .


 


provided, however,
that (A) in the case of clauses (i) through (vii), these permitted transferees must enter into a written agreement, in substantially the
form of this Agreement (it being understood that any references to “immediate family” in the agreement executed by such transferee
shall expressly refer only to the immediate family of the Securityholder and not to the immediate family of the transferee), agreeing
to be bound by these Transfer restrictions. For purposes of this paragraph, “immediate family” shall mean a spouse, domestic
partner, child (including by adoption), father, mother, brother or sister of the undersigned, and lineal descendant (including by adoption)
of the undersigned or of any of the foregoing persons; and “affiliate” shall have the meaning set forth in Rule 405 under
the Securities Act of 1933, as amended.


 


3.               The
Lock-up Period shall terminate upon the earlier of (A) one year after the Closing, (B) the date on which the Company completes a
liquidation, merger, capital stock exchange, reorganization or other similar transactions that results in all of the Company’s
stockholders having the right to exchange their shares of cash, securities or other property, and (C) with respect to 1/3 of the
Lock-up Shares in each instance, the dates subsequent to the Closing on which the price of the Company’s Common Stock equals
or exceeds a target price of $12.00, $13.00 and $14.00 per share (as adjusted for stock splits, stock dividends, reorganizations,
recapitalizations and other similar transactions) for a period of 20 trading days within any consecutive 30 trading day period.
Multiple target prices may be met simultaneously. In no event shall any Securityholder Transfer within any continuous 90-day period
more than 1/3 of the Lock-up Shares originally issued to such Securityholder. Notwithstanding the foregoing, the Lock-up Period for
the Private Placement Warrants or the underlying shares shall terminate 30 days after the Closing. “Private Placement
Warrants” mean the 6,375,000 warrants of the Company that certain initial stockholders purchased in a private placement that
occurred substantially concurrently with the consummation of the Company’s initial public offering.


 






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4.              For
the avoidance of doubt, each Securityholder shall retain all of its rights as a stockholder of the Company with respect to the Lock-up
Shares during the Lock-up Period, including the right to vote any Lock-up Shares that are entitled to vote.


 


5.               In
furtherance of the foregoing, the Company, and any duly appointed transfer agent for the registration or transfer of the securities described
therein, are hereby authorized to decline to make any transfer of securities if such transfer would constitute a violation or breach
of this Agreement, and such purported Transfer shall be null and void ab initio. In addition, during the Lock-up Period, each
certificate or book-entry position evidencing the Lock-up Shares shall be marked with a legend in substantially the following form, in
addition to any other applicable legends:


 


“THE SECURITIES REPRESENTED
HEREBY ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT BY AND AMONG THE COMPANY AND THE REGISTERED HOLDER OF
THE SECURITIES (OR THE PREDECESSOR IN INTEREST TO THE SECURITIES). A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY
THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”


 


6.               Each Securityholder hereby represents and warrants to the Company as follows:


 


(i)               Such
Securityholder has all necessary power and authority to execute and deliver this Agreement and to perform such Securityholder’s
obligations hereunder. The execution and delivery of this Agreement by such Securityholder has been duly and validly authorized and no
other action on the part of such Securityholder is necessary to authorize this Agreement. This Agreement has been duly and validly executed
and delivered by such Securityholder and, assuming the due authorization, execution and delivery by the other Securityholders and Company,
constitutes a legal, valid and binding obligation of such Securityholder, enforceable against such Securityholder in accordance with
its terms, subject to the Remedies Exceptions.


 


(ii)            The
execution and delivery of this Agreement by such Securityholder does not, and the performance of this Agreement by such
Securityholder will not: (i) conflict with or violate any applicable law applicable to such Securityholder, (ii) contravene or
conflict with, or result in any violation or breach of, any provision of any charter, articles of association, operating agreement
or similar formation or governing documents and instruments of such Securityholder, or (iii) result in any breach of or constitute a
material default (or an event which, with notice or lapse of time or both, would become a material default) under, or give to others
any rights of termination, amendment, acceleration or cancellation of, or result in the creation of a Lien on any of the Lock-up
Shares that is held by such Securityholder pursuant to any note, bond, mortgage, indenture, contract, agreement, lease, license,
permit, franchise or other instrument (whether written or oral) to which such Securityholder is a party or by which such
Securityholder is bound, except, in the case of clause or (iii), for any such conflicts, violations, breaches, defaults or other
occurrences which, individually or in the aggregate, would not reasonably be expected to materially impair the ability of such
Securityholder to perform such Securityholder’s obligations hereunder.


 






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(iii)            The
execution and delivery of this Agreement by such Securityholder does not, and the performance of this Agreement by such Securityholder
will not, require any consent, approval, authorization or permit of, or filing with or notification to, or expiration or termination
of any waiting period by, any Governmental Authority or any other person, except (i) for applicable requirements, if any, of the Exchange
Act, the Securities Act, and Blue Sky Laws and (ii) where the failure to obtain such consents, approvals, authorizations or permits,
or to make such filings or notifications, individually or in the aggregate, would not reasonably be expected to materially impair the
ability of such Securityholder to perform such Securityholder’s obligations hereunder.


 


(iv)            There
is no material Action pending or, to the knowledge of such Securityholder, threatened against such Securityholder, which in any manner
challenges or, individually or in the aggregate, would reasonably be expected to materially delay or impair the ability of such Securityholder
to perform such Securityholder’s obligations hereunder.


 


7.                This
Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes
all prior understandings, agreements or representations by or among the parties hereto, written or oral, to the extent they relate in
any way to the subject matter hereof or the transactions contemplated hereby provided, that, for the avoidance of doubt, the foregoing
shall not affect the rights and obligations of the parties under the BCA, any Forward Purchase Agreement or any Subscription Agreement
or any documents related thereto or referred to therein. This Agreement may not be changed, amended, modified or waived (other than to
correct a typographical error) as to any particular provision, except by a written instrument executed by (i) the applicable Securityholder
and (ii) the Company.


 


8.               This Agreement shall not be assigned (whether pursuant to a merger, by operation of law or otherwise) by any party without the
prior express written consent of the other parties hereto, except in connection with a Transfer by MCAC to its shareholders, but, with
respect to any shareholder of MCAC, only if such shareholder agrees to become bound by the restrictions set forth in this Agreement. Subject
to the foregoing, this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted successors
and assigns. Any attempted assignment in violation of the terms of this paragraph 8 shall be null and void, ab initio.


 


9.               This
Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware applicable to contracts executed
in and to be performed in that State. All Actions arising out of or relating to this Agreement shall be heard and determined
exclusively in any Delaware Chancery Court; provided, that if jurisdiction is not then available in the Delaware Chancery Court,
then any such Action may be brought in any federal court located in the State of Delaware or any other Delaware state court. The
parties hereto hereby (a) irrevocably submit to the exclusive jurisdiction of the aforesaid courts for themselves and with respect
to their respective properties for the purpose of any Action arising out of or relating to this Agreement brought by any party
hereto, and (b) agree not to commence any Action relating thereto except in the courts described above in Delaware, other than
Actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as
described herein. Each of the parties further agrees that notice as provided herein shall constitute sufficient service of process
and the parties further waive any argument that such service is insufficient. Each of the parties hereby irrevocably and
unconditionally waives, and agrees not to assert, by way of motion or as a defense, counterclaim or otherwise, in any Action arising
out of or relating to this Agreement or the transactions contemplated hereby, (a) any claim that it is not personally subject to the
jurisdiction of the courts in Delaware as described herein for any reason, (b) that it or its property is exempt or immune from
jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment
prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise) and (c) that (i) the Action in
any such court is brought in an inconvenient forum, (ii) the venue of such Action is improper or (iii) this Agreement, or the
subject matter hereof, may not be enforced in or by such courts.


 






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10.             Each
of the parties hereto hereby waives to the fullest extent permitted by applicable law any right it may have to a trial by jury with respect
to any litigation directly or indirectly arising out of, under or in connection with this Agreement. Each of the parties hereto (i) certifies
that no representative, agent or attorney of any other party has represented, expressly or otherwise, that such other party would not,
in the event of litigation, seek to enforce that foregoing waiver and (ii) acknowledges that it and the other hereto have been induced
to enter into this Agreement, as applicable, by, among other things, the mutual waivers and certifications in this paragraph 10.


 


11.             The
parties hereto agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with the
terms hereof, and, accordingly, that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement
or to enforce specifically the performance of the terms and provisions hereof in the Court of Chancery of the State of Delaware, County
of New Castle, or, if that court does not have jurisdiction, any court of the United States located in the State of Delaware without
proof of actual damages or otherwise, in addition to any other remedy to which they are entitled at law or in equity. Each of the parties
hereto hereby further waives (i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any
requirement under any law to post security or a bond as a prerequisite to obtaining equitable relief.


 


12.             This
Agreement shall be valid and enforceable as of the date of this Agreement and may not be revoked by any party hereto; provided that
the provisions herein (other than paragraphs 6 through 14) shall not be effective until the consummation of the Closing Date. This
Agreement shall not terminate with respect to a Securityholder until the expiration of the Lock-up Period.


 


13.             This
Agreement may be executed in several counterparts, each of which shall be deemed an original and all of which shall constitute one and
the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by electronic means, including DocuSign,
e-mail, or scanned pages shall be effective as delivery of a manually executed counterpart to this Agreement.


 


[Remainder of page
intentionally left blank]


 






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IN WITNESS WHEREOF, each of
the parties hereto has duly executed this Lock-up Agreement as of the date first written above.


 


	 	Company
	 	 
	 	Future Health ESG Corp.
	 	 
	 	By:	/s/ Brad A. Bostic
	 	 
	 	Name: Brad A. Bostic
	 	 
	 	Title: Chief Executive Officer


 


[Signature page to Lock-up
Agreement]


 






    


     


    

 


	 	SECURITYHOLDERS:
	 	 
	 	MACARTHUR COURT ACQUISITION CORP.
	 	 
	 	By:	/s/ Sanjay Patil
	 	 
	 	Name:	Sanjay Patil
	 	 
	 	Title:	Chief Executive Officer



 


[Signature page to Lock-up
Agreement]


 






    


     


    

 


	 	BEA HOLDINGS, LLC
	 	 
	 	By:	/s/  Brad A. Bostic
	 	 
	 	Name:	 Brad A. Bostic
	 	 
	 	Title:	Manager
	 	 
	 	M2 ENTERPRISES HOLDINGS, LLC
	 	 
	 	By:	/s/ Travis A. Morgan
	 	 
	 	Name:	Travis A. Morgan
	 	 
	 	Title:	Manager
	 	 
	 	HC1.COM, INC
	 	 
	 	By:	/s/ Chris Brown
	 	 
	 	Name:	Chris Brown
	 	 
	 	Title:	Chief Operating Officer
	 	 
	 	MB EQUITY, LLC
	 	 
	 	By:	/s/  Travis A. Morgan
	 	 
	 	Name:	 Travis A. Morgan
	 	 
	 	Title:	Managing Manager
	 	 
	 	FUTURE HEALTH ESG ASSOCIATES 1, LLC
	 	 
	 	By:	/s/  Travis  Morgan
	 	 
	 	Name:	Travis  Morgan
	 	 
	 	Title:	Manager


 


[Signature page to Lock-up
Agreement]


 






    


     


    

 


	 	By:	 /s/ R. MARK LUBBERS
	 	 
	 	Name: R. MARK
    LUBBERS
	 	 
	 	By:	/s/ F. JOHN
    MILLS, MD
	 	 
	 	Name: F. JOHN
    MILLS, MD
	 	 
	 	By:	/s/ NANCY
    L. SNYDERMAN, MD
	 	 
	 	Name: NANCY
    L. SNYDERMAN, MD



 


[Signature page to Lock-up
Agreement]


 






    


     


    

 


	 	VARIANT CAPITAL LIMITED
	 	 
	 	By:	/s/ Qi Su
	 	 
	 	Name:	Qi Su
	 	 
	 	Title:	President
	 	 
	 	HAKIM HOLDING GROUP COMPANY LIMITED
	 	 
	 	By:	/s/ Qi Cheng Wang
	 	 
	 	Name:	Qi Cheng Wang
	 	 
	 	Title:	Director


 


[Signature page to Lock-up
Agreement]


 






    


     


    

 


SCHEDULE 1


 


LOCK-UP EQUITY HOLDERS


 


MACARTHUR COURT ACQUISITION CORP.


 


BEA HOLDINGS, LLC


 


M2 ENTERPRISES HOLDINGS, LLC


 


HC1.COM, INC


 


MB EQUITY, LLC


 


FUTURE HEALTH ESG ASSOCIATES 1, LLC


 


VARIANT CAPITAL LIMITED


 


HAKIM HOLDING GROUP COMPANY LIMITED


 


R MARK LUBBERS


 


F. JOHN MILLS, MD


 


NANCY L. SNYDERMAN, MD


 


Schedule 1


 






    


     


    

 


EXHIBIT A


 


FORM OF JOINDER


 


Reference is made to that
certain Lock-up Agreement, dated as of [       ], 2022, by and among (i) Future Health ESG Corp., a Delaware corporation (the “Company”),
and (ii) the Securityholders (as defined therein) (as amended from time to time, the “Lock-up Agreement”). Capitalized
terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Lock-up Agreement.


 


The undersigned agrees that
this joinder to the Lock-up Agreement (this “Joinder”) is being executed and delivered in favor of, and to,
the Company for good and valuable consideration.


 


The undersigned hereby agrees
to and does become party to the Lock-up Agreement as a Securityholder. This joinder shall serve as a counterpart signature page to the
Lock-up Agreement and by executing below the undersigned is deemed to have executed the Lock-up Agreement with the same force and effect
as if originally named a party thereto.


 


[Remainder of Page Intentionally Left Blank.]


 


Exhibit A


 






    


     


    

 


IN WITNESS WHEREOF, the undersigned
has duly executed this joinder to the Lock-up Agreement.


 


	 	[NEW SECURITYHOLDER PARTY]
	 	 
	 	By:	 
	 	 
	 	Name:	 
	 	 
	 	Title:	 
	 	 
	 	Date:	              


 


Exhibit A