Exhibit 10.3


 


LOCK-UP AGREEMENT


 


THIS LOCK-UP AGREEMENT
(this "Agreement") is dated as of February 11, 2022, by and between the undersigned stockholder (the "Holder")
and SPK Acquisition Corp., a Delaware corporation (the "Parent").


 


A.          Contemporaneously
with entering into this Agreement, Parent, SPK Merger Sub, Inc., a Delaware corporation and wholly-owned subsidiary of Parent,
and Varian Biopharmaceuticals, Inc., a Florida corporation (the "Company") (as amended from time to time, the
"Merger Agreement").


 


B.           Capitalized terms
used, but not otherwise defined herein, shall have the meanings ascribed to such terms in the Merger Agreement.


 


C.           Pursuant to the Merger
Agreement, Parent will become the 100% stockholder of the Company.


 


D.           The Holder is the
record and/or beneficial owner of certain shares of Company Common Stock, which will be exchanged for shares of Parent Common Stock
pursuant to the Merger Agreement.


 


E.           As a condition of,
and as a material inducement for Parent and the Company to enter into and consummate the transactions contemplated by the Merger
Agreement, the Holder has agreed to execute and deliver this Agreement, which shall be effective as of the Closing Date of the
Merger.


 


                NOW,
THEREFORE, for and in consideration of the mutual covenants and agreements set forth herein, and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:


 


AGREEMENT


 


1.            Lock-up.


 


(a)Subject
to Section 1(b) below, during the Lock-up Period, the Holder agrees that he, she or it will not offer, sell, contract to sell,
pledge or otherwise dispose of, directly or indirectly, any of the Lock-up Shares (as defined below), enter into a transaction
that would have the same effect, or enter into any swap, hedge or other arrangement that transfers, in whole or in part, any of
the economic consequences of ownership of the Lock-up Shares or otherwise, publicly disclose the intention to make any offer, sale,
pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement, or engage in any Short Sales (as defined
below) with respect to the Lock-up Shares.


 


(b)In
furtherance of the foregoing, during the Lock-up Period, Parent will (i) place a stop order on all the Lock-up Shares, including
those which may be covered by a registration statement, and (ii) notify Parent's transfer agent in writing of the stop order and
the restrictions on the Lock-up Shares under this Agreement and direct Parent's transfer agent not to process any attempts by the
Holder to resell or transfer any Lock-up Shares, except in compliance with this Agreement.


 



    	 



    	 



    

 


(c)For
purposes hereof, "Short Sales" include, without limitation, all "short sales" as defined in Rule 200
of Regulation SHO under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and all types of
direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and similar arrangements (including on a
total return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers.


 


(d)The
term "Lock-up Period" means the date that is six (6) months after the Closing Date (as defined in the Merger Agreement).


 


2.            Beneficial
Ownership. The Holder hereby represents and warrants that it does not beneficially own, directly or through its nominees (as
determined in accordance with Section 13(d) of the Exchange Act, and the rules and regulations promulgated thereunder), any shares
of Parent Common Stock, or any economic interest in or derivative of such shares, other than those shares of Parent Common Stock
issued pursuant to the Merger Agreement. For purposes of this Agreement, the Merger Consideration Shares beneficially owned by
the Holder, together with any other shares of Parent Common Stock, and including any securities convertible into, or exchangeable
for, or representing the rights to receive Parent Common Stock, if any, acquired during the Lock-up Period are collectively referred
to as the "Lock-up Shares," provided, however, that such Lock-up Shares shall not include shares
of Parent Common Stock acquired by such Holder in open market transactions during the Lock-up Period.


 


Notwithstanding the foregoing,
and subject to the conditions below, the undersigned may transfer Lock-up Shares in connection with (a) transfers or distributions
to the Holder's direct or indirect affiliates (within the meaning of Rule 405 under the Securities Act of 1933, as amended (the
"Securities Act")) or to the estates of any of the foregoing; (b) transfers by bona fide gift to a member of the
Holder's immediate family or to a trust, the beneficiary of which is the Holder or a member of the Holder's immediate family for
estate planning purposes; (c) by virtue of the laws of descent and distribution upon death of the Holder; (d) pursuant to a qualified
domestic relations order; (e) transfers to Parent's officers, directors or their affiliates; (f) transfers pursuant to a bona fide
third-party tender offer, merger, stock sale, recapitalization, consolidation or other transaction involving a change of control
of Parent; provided, however, that in the event that such tender offer, merger, recapitalization, consolidation or
other such transaction is not completed, the Lock-up Shares subject to this Agreement shall remain subject to this Agreement; (g)
the establishment of a trading plan pursuant to Rule 10b5-1 promulgated under the Exchange Act; provided, however,
that such plan does not provide for the transfer of Lock-up Shares during the Lock-up Period; (h) transfers to satisfy tax withholding
obligations in connection with the exercise of options to purchase shares of Parent Common Stock or the vesting of stock-based
awards; and (i) transfers in payment on a "net exercise" or "cashless" basis of the exercise or purchase price
with respect to the exercise of options to purchase shares of Parent Common Stock; provided, however, that, in the
case of any transfer pursuant to the foregoing (a) through (e) clauses, it shall be a condition to any such transfer that (i) the
transferee/donee agrees in writing (a copy of which shall be provided by the Holder to the parties hereto and to Continental Stock
and Transfer Company), to be bound by the terms of this Agreement (including, without limitation, the restrictions set forth in
the preceding sentence) to the same extent as if the transferee/donee were a party hereto; and (ii) each party (donor, donee, transferor
or transferee) shall not be required by law (including without limitation the disclosure requirements of the Securities Act and
the Exchange Act) to make, and shall agree to not voluntarily make, any filing or public announcement of the transfer or disposition
prior to the expiration of the Lock-up Period. The Holder hereby covenants to Parent that the Holder will give notice to Parent
of any transfer of Lock-up Shares pursuant to this Section 2 of the Agreement, with such notice given in accordance with Section
5 of this Agreement.


 



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3.            Representations
and Warranties. Each of the parties hereto, by their respective execution and delivery of this Agreement, hereby represents
and warrants to the other that (a) such party has the full right, capacity and authority to enter into, deliver and perform its
respective obligations under this Agreement, (b) this Agreement has been duly executed and delivered by such party and is a binding
and enforceable obligation of such party and, enforceable against such party in accordance with the terms of this Agreement, and
(c) the execution, delivery and performance of such party's obligations under this Agreement will not conflict with or breach the
terms of any other agreement, contract, commitment or understanding to which such party is a party or to which the assets or securities
of such party are bound. The Holder has independently evaluated the merits of his/her/its decision to enter into and deliver this
Agreement, and such Holder confirms that he/she/it has not relied on the advice of Company, Company's legal counsel, or any other
person.


 


4.            No
Additional Fees/Payment. Other than the consideration specifically referenced herein, the parties hereto agree that no fee,
payment or additional consideration in any form has been or will be paid to the Holder in connection with this Agreement.


 


5.            Notices.
Any notices required or permitted to be sent hereunder shall be sent in writing, addressed as specified below, and shall be deemed
given: (a) if by hand or recognized courier service, by 4:00PM on a Business Day, addressee's day and time, on the date of delivery,
and otherwise on the first Business Day after such delivery; (b) if by email, on the date that transmission is confirmed electronically,
if by 4:00PM on a Business Day, addressee's day and time, and otherwise on the first Business Day after the date of such confirmation;
or (c) five days after mailing by certified or registered mail, return receipt requested. Notices shall be addressed to the respective
parties as follows (excluding telephone numbers, which are for convenience only), or to such other address as a party shall specify
to the others in accordance with these notice provisions:


 



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(a)If
to Company, to:


 


Varian Biopharmaceuticals, Inc.

4851 Tamiami Trail North, Suite 200

Naples, FL 34103

Attn: Jeff Davis

E-mail: jdavis@varianbio.com


 


with a copy (which shall not constitute notice) to:


 


Dorsey & Whitney LLP

111 South Main Street

Suite 2100

Salt Lake City, UT

Attn: Anthony W. Epps

E-mail: epps.anthony@dorsey.com


 


if to Parent:


 


SPK Acquisition Corp.

Xuhuiqu Wulumuqizhonglu 99 Nong 


Building 1 #502


Shanghai China, 200031


Attn: Sophie Ye Tao

E-mail: sophie@spkacq.com


 


with a copy (which shall not constitute notice) to:


 


Loeb & Loeb LLP

345 Park Ave

New York, NY 10154

Attention: Mitchell S. Nussbaum

Fax: 212.504.3013

E-mail: mnussbaum@loeb.com


 


(b)If
to the Holder, to the address set forth on the Holder's signature page hereto, with a copy, which shall not constitute notice,
to:


___________________________________


 


___________________________________


 


___________________________________







 


Attn: ______________________________ 


 


E-mail:______________________________






 


6.            Termination.
This Agreement shall terminate automatically upon, and concurrently with, the Closing or the termination of the Merger Agreement,
each in accordance with the terms of the Merger Agreement. In the event of the termination of this Agreement, this Agreement shall
forthwith become null and void, there shall be no liability on the part of any of the parties, and all rights and obligations of
each party hereto shall cease; provided, however, that no such termination of this Agreement shall relieve any party hereto from
any liability for any breach of any provision of this Agreement prior to such termination.


 


7.             Enumeration
and Headings. The enumeration and headings contained in this Agreement are for convenience of reference only and shall not
control or affect the meaning or construction of any of the provisions of this Agreement.


 



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8.            Counterparts.
This Agreement may be executed in counterparts, each of which shall constitute an original, but all of which shall constitute one
agreement. This Agreement shall become effective upon delivery to each party of an executed counterpart or the earlier delivery
to each party of original, photocopied, or electronically transmitted signature pages that together (but need not individually)
bear the signatures of all other parties.


 


9.            Successors
and Assigns. This Agreement and the terms, covenants, provisions and conditions hereof shall be binding upon, and shall inure
to the benefit of, the respective heirs, successors and assigns of the parties hereto. The Holder hereby acknowledges and agrees
that this Agreement is entered into for the benefit of and is enforceable by Company and its successors and assigns.


 


10.          Severability.
If any provision of this Agreement is held to be invalid or unenforceable for any reason, such provision will be conformed to prevailing
law rather than voided, if possible, in order to achieve the intent of the parties and, in any event, the remaining provisions
of this Agreement shall remain in full force and effect and shall be binding upon the parties hereto.


 


11.         Amendment.
This Agreement may be amended or modified by written agreement executed by each of the parties hereto.


 


12.           Further
Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall
execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably request
in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated
hereby.


 


13.          No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express
their mutual intent, and no rules of strict construction will be applied against any party.


 


14.          Dispute
Resolution. Each of Section 11.15 (Waiver of Jury Trial) and 11.16 (Submission to Jurisdiction) of the Merger Agreement is
incorporated by reference herein to apply with full force to any disputes arising under this Agreement.


 


15.          Governing
Law. Section 11.7 (Governing Law) of the Merger Agreement is incorporated by reference herein to apply with full force to any
disputes arising under this Agreement.


 


16.          Controlling
Agreement. To the extent the terms of this Agreement (as amended, supplemented, restated or otherwise modified from time to
time) directly conflicts with any provision in the Merger Agreement, the terms of this Agreement shall control.


 


[Signature Page Follows]


 



    	 



    	 



    

 


IN WITNESS WHEREOF, the parties hereto
have caused this Lock-up Agreement to be duly executed by their respective authorized signatories as of the date first indicated
above.


 





	 	PARENT:
	 	 	 
	 	SPK Acquisition Corp.
	 	 	 
	 	By:	/s/ Sophie Ye Tao
	 	Name:	Sophie Ye Tao
	 	Title:	Chief Executive Officer








 


[Signature Page to Lock-Up Agreement]



    	 



    	 



    

 


IN WITNESS WHEREOF, the
parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories as of the date
first indicated above.


 





	 	KEYSTONE
CAPITAL PARTNERS, LLC
	 	 
	 	By:	/s/
Fredric G. Zaino
	 	Name: 	Fredric G. Zaino
	 	Title: 	Founder
	 	 
	 	Address
for Notice:
	 	 
	 	 
	 	 
	 	 
	 	Attention:
	 	 
	 	 
	 	 
	 	Email: 	fz@keystone-cp.com








 


[Signature Page to Lock-Up Agreement]



    	 



    	 



    

 


IN WITNESS WHEREOF, the
parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories as of the date
first indicated above.


 





	 	PAUL
    E. MANN
	 	 
	 	/s/
    Paul E. Mann
	 	Paul
    E. Mann
	 	 
	 	Address
    for Notice:
	 	 
	 	 
	 	 
	 	 
	 	Attention:
	 	 
	 	 
	 	 
	 	Email:	pmann@varianbio.com







 


[Signature Page to Lock-Up Agreement]


 






    	 



    	 



    

 




IN WITNESS WHEREOF, the
parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories as of the date
first indicated above.


 





	 	TODD WIDER
	 	 
	 	/s/
    Todd Wider
	 	Todd Wider
	 	 
	 	Address
    for Notice:
	 	 
	 	 
	 	 
	 	 
	 	Attention:
	 	 
	 	 
	 	 
	 	Email:	toddwider@gmail.com


 


[Signature Page to Lock-Up Agreement]


 






    	 



    	 



    

 


IN WITNESS WHEREOF, the
parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories as of the date
first indicated above.


 


 





	 	JEFFREY
B. DAVIS
	 	 
	 	/s/
    Jeffrey B. Davis
	 	Jeffrey B. Davis
	 	 
	 	Address
    for Notice:
	 	 
	 	 
	 	 
	 	 
	 	Attention:
	 	 
	 	 
	 	 
	 	Email:	jdavis@varianbio.com


 


[Signature Page to Lock-Up Agreement]








 






    	 



    	 



    

 


IN WITNESS WHEREOF, the
parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories as of the date
first indicated above.


 


 





	 	JONATHAN
LEWIS, M.D., PhD
	 	 
	 	/s/
Jonathan Lewis
	 	Jonathan
Lewis, M.D. PhD
	 	 
	 	Address
    for Notice:
	 	 
	 	 
	 	 
	 	 
	 	Attention:
	 	 
	 	 
	 	 
	 	Email:	jlewis@varianbio.com


 


[Signature Page to Lock-Up
Agreement]