Exhibit 10.3


 


Final
Form


 


EXHIBIT
D


 


FORM
OF LOCK-UP AGREEMENT


 


THIS
LOCK-UP AGREEMENT (this “Agreement”) is made as of [●], 2017 by and among (i) Origo Acquisition
Corporation, a Cayman Islands company which will be known after the consummation of the transactions contemplated by the Merger
Agreement (as defined below), as “High Times Media Corporation”, a Nevada corporation (including any successor entity
thereto, the “Company”), (ii) Jose Aldeanueva, solely in his capacity under the Merger Agreement as
the OAC Representative (including any successor OAC Representative appointed pursuant to and in accordance with the Merger Agreement,
the “OAC Representative”), and (iii) the undersigned (“Holder”). Any capitalized
term used but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement.


 


WHEREAS,
the Company, Hightimes Holding Corp., a Delaware corporation (“HTH”), HTHC Merger Sub, Inc., a Delaware
corporation and a wholly-owned subsidiary of the Company (“Merger Sub”), and the OAC Representative,
are parties to that certain Merger Agreement, dated as of July 24, 2017 (as amended from time to time in accordance with the terms
thereof, the “Merger Agreement”), pursuant to which Merger Sub will merge with and into HTH, with HTH
continuing as the surviving entity (the “Merger”), and as a result of which, among other matters, all
of the issued and outstanding capital stock of HTH and Company Common Stock Equivalent Securities as of the Effective Time shall
no longer be outstanding and shall automatically be cancelled and shall cease to exist, in exchange for the right to receive,
or otherwise convert into, the Merger Consideration or other consideration (including OAC Assumed Options) as set forth in the
Merger Agreement, all upon the terms and subject to the conditions set forth in the Merger Agreement and in accordance with the
applicable provisions of the DGCL;


 


WHEREAS,
Holder is a holder of the capital stock of HTH and/or Company Common Stock Equivalent Securities in such amounts as set forth
underneath Holder’s name on the signature page hereto; and


 


WHEREAS,
pursuant to the Merger Agreement, and in view of the valuable consideration to be received by Holder thereunder, the Company,
the OAC Representative and Holder desire to enter into this Agreement, pursuant to which the OAC Shares to be issued to Holder
as Merger Consideration or upon exercise of OAC Assumed Options (all such securities, together with any securities paid as dividends
or distributions with respect to such securities or into which such securities are exchanged or converted, the “Restricted
Securities”) 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 hereby agree as follows:


 






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1.            Lock-Up
Provisions.


 


(a)          Holder
hereby agrees not to, during the period commencing from the Closing and (i), with respect to fifty percent (50%) of each type
of the Restricted Securities, ending on the earlier of (A) the one (1) year anniversary of the date of the Closing, and (B) the
date after the Closing on which the Company consummates a liquidation, merger, share exchange or other similar transaction with
an unaffiliated third party that results in all of the Company’s shareholders having the right to exchange their equity
holdings in the Company for cash, securities or other property (a “Subsequent Transaction”), and (ii),
with respect to the remaining fifty percent (50%) of the Restricted Securities, ending on the earliest of (A) the one (1) year
anniversary of the date of the Closing, (B) the date after the Closing on which the Company consummates a Subsequent Transaction
and (C) the date on which the closing sale price of the OAC Shares equals or exceeds $12.50 per share (as adjusted for share splits,
share dividends, reorganizations and recapitalizations) for any twenty (20) trading days within any thirty (30) trading day period
commencing after the Closing (the “Lock-Up Period”): (x) lend, offer, pledge, hypothecate, encumber,
donate, assign, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant
any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or indirectly, any Restricted Securities,
(y) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of the Restricted Securities, or (z) publicly disclose the intention to do any of the foregoing, whether any such
transaction described in clauses (x), (y) or (z) above is to be settled by delivery of Restricted Securities or other securities,
in cash or otherwise (any of the foregoing described in clauses (x), (y) or (z), a “Prohibited Transfer”).
The foregoing sentence shall not apply to the transfer of any or all of the Restricted Securities owned by Holder (I) by gift,
will or intestate succession upon the death of Holder, (II) to any Permitted Transferee or (III) pursuant to a court order or
settlement agreement related to the distribution of assets in connection with the dissolution of marriage or civil union; provided,
however, that in any of cases (I), (II) or (III) it shall be a condition to such transfer that the transferee executes and delivers
to the Company and the OAC Representative an agreement stating that the transferee is receiving and holding the Restricted Securities
subject to the provisions of this Agreement applicable to Holder, and there shall be no further transfer of such Restricted Securities
except in accordance with this Agreement. As used in this Agreement, the term “Permitted Transferee”
shall mean: (1) the members of Holder’s immediate family (for purposes of this Agreement, “immediate family”
shall mean any relationship by blood, marriage or adoption, not more remote than first cousin), (2) any trust for the direct or
indirect benefit of Holder or the immediate family of Holder, (3) if Holder is a trust, to the trustor or beneficiary of such
trust or to the estate of a beneficiary of such trust, (4) as a distribution to limited partners, shareholders, members of, or
owners of similar equity interests in Holder upon the liquidation and dissolution of Holder or (5) to any affiliate of Holder
or to any investment fund or other entity controlled by Holder. Holder further agrees to execute such agreements as may be reasonably
requested by the Company or the OAC Representative that are consistent with the foregoing or that are necessary to give further
effect thereto.


 


(b)          If
any Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported Prohibited Transfer
shall be null and void ab initio, and the Company shall refuse to recognize any such purported transferee of the Restricted Securities
as one of its equity holders for any purpose. In order to enforce this Section 1, the Company may impose stop-transfer
instructions with respect to the Restricted Securities of Holder (and permitted transferees and assigns thereof) until the end
of the Lock-Up Period.


 


(c)          During
the Lock-Up Period, each certificate evidencing any Restricted Securities shall be stamped or otherwise imprinted with a legend
in substantially the following form, in addition to any other applicable legends:


 


“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT, DATED AS
OF [●], 2017, BY AND AMONG THE ISSUER OF SUCH SECURITIES (THE “ISSUER”) AND THE ISSUER’S SECURITY HOLDER
NAMED THEREIN, AS AMENDED. A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE HOLDER HEREOF
UPON WRITTEN REQUEST.”


 


(d)          For
the avoidance of any doubt, Holder shall retain all of its rights as a shareholder of the Company during the Lock-Up Period, including
the right to vote any Restricted Securities.


 






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2.            Miscellaneous.


 


(a)          Termination
of Merger Agreement. Notwithstanding anything to the contrary contained herein, in the event that the Merger Agreement is
terminated in accordance with its terms prior to the Closing, this Agreement and all rights and obligations of the parties hereunder
shall automatically terminate and be of no further force or effect.


 


(b)          Binding
Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the
parties hereto and their respective permitted successors and assigns. This Agreement and all obligations of Holder are personal
to Holder and may not be transferred or delegated by Holder at any time. The Company may freely assign any or all of its rights
under this Agreement, in whole or in part, to any successor entity (whether by merger, consolidation, equity sale, asset sale
or otherwise) without obtaining the consent or approval of Holder. If the OAC Representative is replaced in accordance with the
terms of the Merger Agreement, the replacement OAC Representative shall automatically become a party to this Agreement as if it
were the original OAC Representative hereunder.


 


(c)          Third
Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the
transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person
or entity that is not a party hereto or thereto or a successor or permitted assign of such a party.


 


(d)          Governing
Law; Jurisdiction. This Agreement and any dispute or controversy arising out of or relating to this Agreement shall be governed
by and construed in accordance with the laws of the State of New York, without regard to the conflict of law principles thereof.
All Actions arising out of or relating to this Agreement shall be heard and determined exclusively in any state or federal court
located in New York, New York (or in any appellate courts thereof) (the “Specified Courts”). Each party
hereto hereby (i) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising out of or
relating to this Agreement brought by any party hereto and (ii) irrevocably waives, and agrees not to assert by way of motion,
defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the above-named courts,
that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient forum, that
the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced in or
by any Specified Court. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents to the service of
the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated by
this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth in Section 2(g). Nothing in this Section 2(d) shall affect the right of any party to serve legal
process in any other manner permitted by applicable law.


 


(e)          WAIVER
OF JURY TRIAL. 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 ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND
(ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 2(e).


 






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(f)          Interpretation.
The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting
this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural
and vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting
the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words
“without limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other
words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular
section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”. The parties have
participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.


 


(g)          Notices.
All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given
when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation of receipt, (iii) one
Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business
Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in each case to the applicable
party at the following addresses (or at such other address for a party as shall be specified by like notice):


 


	If
                                         to the Company after the Closing, to:

         

        High
        Times Media Corporation

        5520 Wilshire Boulevard

        Los Angeles, CA 90036

        Attn:   Adam E. Levin, CEO

        Tel:     310-774-0100

        Email: adam@orevacap.com

         
	With
                                         copies to (which shall not constitute notice):

         

        the
        OAC Representative (and its copy for notices hereunder)

         

        and

         

        CKR
        Law, LLP

        12100 Wilshire Boulevard, Suite 480

        Los Angeles, California 90025

        Attn:     Stephen A. Weiss, Esq.

        Tel:       (310) 312-1860

        Email:    sweiss@ckrlaw.com

         

	If
                                         to the OAC Representative, to:

         

        Jose
        M. Aldeanueva

        [_____________]

        [_____________]

        Tel: [___________]

        Email: jaldea@aol.com

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

         

        Ellenoff
        Grossman & Schole, LLP

        1345 Avenue of the Americas, 11th Floor

        New York, NY 10105

        Attn:      Douglas Ellenoff, Esq.

                       Stuart Neuhauser, Esq.

        Fax:       (212) 370-7889

        Tel:        (212) 370-1300

        Email:    ellenoff@egsllp.com

                        sneuhauser@egsllp.com

         




 






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	If
to Holder, to: the address set forth below Holder’s name on the signature page to this Agreement.



 



(h)          Amendments
and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either
generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Company,
the OAC Representative and Holder. No failure or delay by a party in exercising any right hereunder shall operate as a waiver
thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall
be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.


 


(i)          Severability.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall
be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable,
and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired
thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon
such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties will substitute
for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid,
legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.


 


(j)          Specific
Performance. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the
event of a breach of this Agreement by Holder, money damages will be inadequate and the Company (and the OAC Representative on
behalf of the Company) will have no adequate remedy at law, and agrees that irreparable damage would occur in the event that any
of the provisions of this Agreement were not performed by Holder in accordance with their specific terms or were otherwise breached.
Accordingly, each of the Company and the OAC Representative shall be entitled to an injunction or restraining order to prevent
breaches of this Agreement by Holder and to enforce specifically the terms and provisions hereof, without the requirement to post
any bond or other security or to prove that money damages would be inadequate, this being in addition to any other right or remedy
to which such party may be entitled under this Agreement, at law or in equity.


 


(k)          Entire
Agreement. This Agreement constitutes the full and entire understanding and agreement among the parties with respect to the
subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between the parties
is expressly canceled; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights and obligations
of the parties under the Merger Agreement or any Ancillary Document. Notwithstanding the foregoing, nothing in this Agreement
shall limit any of the rights or remedies of the Company and the OAC Representative or any of the obligations of Holder under
any other agreement between Holder and the Company or the OAC Representative or any certificate or instrument executed by Holder
in favor of the Company or the OAC Representative, and nothing in any other agreement, certificate or instrument shall limit any
of the rights or remedies of the Company or the OAC Representative or any of the obligations of Holder under this Agreement.


 


(l)          Further
Assurances. From time to time, at another party’s request and without further consideration (but at the requesting party’s
reasonable cost and expense), each party shall execute and deliver such additional documents and take all such further action
as may be reasonably necessary to consummate the transactions contemplated by this Agreement.


 






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(m)          Counterparts;
Facsimile. This Agreement may also be executed and delivered by facsimile signature or by email in portable document format
in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the
same instrument.


 


[Remainder
of Page Intentionally Left Blank; Signature Pages Follow]


 




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IN
WITNESS WHEREOF, the parties have executed this Lock-Up Agreement as of the date first written above.


 





	 	The Company:	 
	 	 	 	 
	 	Origo Acquisition Corp.	 
	 	 	 	 
	 	By:	 	 
	 	Name: 	 
	 	Title: 	 
	 	 	 	 
	 	The OAC Representative:	 
	 	 	 	 
	 	Jose Aldeanueva, in his capacity under the Merger Agreement as the OAC Representative




 


{Additional
Signature on the Following Page}



 


{Signature
Page to Lock-Up Agreement}


 






    	



     


    

 


IN
WITNESS WHEREOF, the parties have executed this Lock-Up Agreement as of the date first written above.


 


Holder:


 


Name
of Holder: [____________________________________________________]


 


	By:	 	 



Name:



Title: 


 


Number
and Type of Shares of HTH Capital Stock and/or Company Common Stock Equivalent Securities:


 


	HTH Capital Stock:	 	 



	 	 	 



	 	 	 



 


	Company Common Stock Equivalent
Securities:	 	 



 


	 	 
	 	 






Address
for Notice:


 


	Address:	 	
	 	 	 
	 	 	 



 


	Facsimile No.:	 	



 


	Telephone No.:	 	



 


	Email:	 	 



 





{Signature
Page to Lock-Up Agreement}