Exhibit 10.12


 


Form of Lock-Up Agreement


 


[___], 2019


Joseph Stone Capital, LLC


200 Old Country Rd, Suite 610


Mineola, NY 11501


 


Re: Proposed Public Offering by Baikang Biological
Group Holdings Limited


 


Ladies and Gentlemen:


 


The undersigned, a shareholder,
director or officer of Baikang Biological Group Holdings Limited, a British Virgin Islands company (the “Company”),
understands that Joseph Stone Capital, LLC (the “Underwriter”) will act as an underwriter to carry out the
proposed public offering (the “Offering”) of the Company’s common shares, par value $0.001 each (the
“Securities”). In recognition of the benefit that the Offering will confer upon the undersigned, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned agrees with the
Underwriter that, without the prior written consent of the Underwriter, during a period of twelve (12) months beginning on the
commencement of trading of the Securities on the Nasdaq Capital Market (the “Lock-Up Period”), the undersigned
will not, without the prior written consent of the Underwriter, directly or indirectly (i) offer, pledge, 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 any securities of the Company (including the issuance of shares of Securities upon the exercise
of options) (collectively, the “Lock-Up Securities”), whether now owned or hereafter acquired by the undersigned
or with respect to which the undersigned has or hereafter acquires the power of disposition, or file, or cause to be filed, any
registration statement under the Securities Act of 1933, as amended, with respect to any of the foregoing or (ii) enter into any
swap or any other agreement or any transaction that transfers, in whole or in part, directly or indirectly, the economic consequence
of ownership of the Lock-Up Securities, whether any such swap or transaction described in clause (i) or (ii) above is to be settled
by delivery of the Lock-Up Securities or such other securities, in cash or otherwise.


 


Notwithstanding the foregoing,
and subject to the conditions below, the undersigned may transfer the Lock-Up Securities without the prior written consent of the
Underwriter as follows, provided that (a) the Underwriter receives a signed lock-up agreement for the balance of the Lock-Up Period
from each donee, trustee or transferee, as the case may be, (b) any such transfer in (1), (2) or (3) below shall not involve a
disposition for value, (c) such transfers are not required to be reported during the Lock-Up Period in any public report or filing
with the Securities and Exchange Commission, or otherwise (other than a required filing on Schedule 13D or Schedule 13G), and (4)
the undersigned does not otherwise voluntarily effect any public filing or report regarding such transfers:


 


(1)          as a bona fide gift
or gifts; or


 


(2)          to any trust or other
entity for the direct or indirect benefit of, or wholly-owned by, the undersigned or the immediate family of the undersigned (for
purposes of this lock-up agreement, “immediate family” shall mean any relationship by blood, marriage or adoption,
not more remote than first cousin); or


 






    	 	 	 



     


    

 


(3)          by will, other testamentary
document or intestate succession to the legal representative, heir, beneficiary or a member of the immediate family of the undersigned;


 


(4)          by operation of law
pursuant to a qualified domestic order or in connection with a divorce settlement; or


 


(5)          pursuant to a trading
plan established pursuant to Rule 10b5-1 of the Exchange Act;


 


 (6)          by
transactions relating to common shares acquired in open market transactions after the completion of the Public Offering, or the
exercise of any stock option to purchase common shares pursuant to any benefit plan of the Company; 


 


(7)          if the undersigned,
directly or indirectly, controls a corporation, partnership, limited liability company or other business entity, any transfers
of Lock-Up Securities to any such corporation, partnership, limited liability company or other business entity, or any shareholder,
partner or member of, or owner of similar equity interests in, the same, as the case may be;


 


(8)           if the undersigned
is a corporation, partnership, limited liability company or other business entity, any transfer made by the undersigned (a) in
connection with the sale or other bona fide transfer in a single transaction of all or substantially all of the undersigned’s
capital stock, partnership interests, membership interests or other similar equity interests, as the case may be, or all or substantially
all of the undersigned’s assets, in any such case not undertaken for the purpose of avoiding the restrictions imposed by
this Agreement or (b) to another corporation, partnership, limited liability company or other business entity so long as the transferee
is an affiliate (as defined below) of the undersigned and such transfer is not for value;


 


 (9)          the
occurrence after the date hereof of any of (a) an acquisition by an individual or legal entity or “group” (as described
in Rule 13d-5(b)(1) promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”))
of effective control (whether through legal or beneficial ownership of capital stock of the Company, by contract or otherwise)
of 100% of the voting securities of the Company, (b) the Company merges into or consolidates with any other entity, or any entity
merges into or consolidates with the Company, (c) the Company sells or transfers all or substantially all of its assets to another
person, or (d) provided, that, the Common Shares received upon any of the events set forth in clauses (a) through (c) above shall
remain subject to the restrictions provided for in this Agreement; 


 


(10)        the Offering; or


 


(11)        transfers consented
to, in writing by the Underwriter.


 






    	 	 	 



     


    

 


Notwithstanding the foregoing, if:


 


(1)          during the last 17
days of the Lock-Up Period, the Company issues an earnings release or material news or a material event relating to the Company
occurs; or


 


(2)          prior to the expiration
of the Lock-Up Period, the Company announces that it will release earnings results or becomes aware that material news or a material
event will occur during the 16-day period beginning on the last day of the Lock-Up Period,


 


the restrictions imposed by this lock-up agreement
shall continue to apply until the expiration of the 18-day period beginning on the issuance of the earnings release or the occurrence
of the material news or material event, as applicable, unless the Underwriter waives, in writing, such extension.


 


The undersigned hereby
acknowledges and agrees that written notice of any extension of the Lock-Up Period pursuant to the previous paragraph will be delivered
by the Underwriter to the Company and that any such notice properly delivered will be deemed to have been given to, and received
by, the undersigned. The undersigned further agrees that, prior to engaging in any transaction or taking any other action that
is subject to the terms of this lock-up agreement during the period from the date of this lock-up agreement to and including the
34th day following the expiration of the Lock-Up Period, it will give notice thereof to the Company and will not consummate such
transaction or take any such action unless it has received written confirmation from the Company that the Lock-Up Period (as may
have been extended pursuant to the previous paragraph) has expired.


 


The undersigned understands
that, if the Offering shall terminate or be terminated prior to payment for and delivery of the Securities, the undersigned shall
be released from all obligations set forth herein.


 


The undersigned also agrees
and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar against the transfer
of the Lock-Up Securities except in compliance with the foregoing restrictions.


 


The undersigned, whether
or not participating in the Offering, understands that the Underwriter is proceeding with the Offering in reliance upon this lock-up
agreement.


 


This lock-up agreement
shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of laws
principles thereof.


 


[Signature page follows]


 


	 	Very truly yours,
	 	 
	 	 
	 	(Name - Please Print)
	 	 
	 	 
	 	(Signature)