Document:

BioElectronics Corporation - Exhibit 4.6 - Prepared By TNT Filings Inc.

 

Exhibit 4.6 

LIMITED STANDSTILL AGREEMENT 

This AGREEMENT (the "Agreement") is made as of the 4th
day of December, 2005, by the signatories hereto (each a "Holder"), in
connection with his ownership of shares of BioElectronics Corporation, a
Maryland corporation (the "Company"). 

NOW THEREFORE, for good and valuable consideration, the
sufficiency and receipt of which consideration are hereby acknowledged, Holder
agrees as follows: 

1. Background. 

  a. Holder is the beneficial owner of the amount of shares of
  the Common Stock, $0.001 par value, of the Company ("Common Stock") and rights
  to purchase Common Stock designated on the signature page hereto, some or all
  of which are owned by virtue of Holder’s ownership of a note convertible into
  Common Stock. 

  b. Holder acknowledges that the Company has entered into or
  will enter into an agreement with each subscriber ("Subscription Agreement")
  to the Company’s secured convertible promissory notes and warrants (the
  "Subscribers"), for the sale to the Subscribers of an aggregate of up to
  $1,000,000 of principal amount of secured convertible promissory notes and
  warrants (the "Offering"). Holder understands that, as a condition to
  proceeding with the Offering, the Subscribers have required, and the Company
  has agreed to obtain an agreement from the Holder to refrain from selling any
  securities of the Company from the date of the Subscription Agreement until
  the end of the Exclusion Period as defined in the Subscription Agreement (the
  "Restriction Period"). 

2. Share Restriction. 

  a. Holder hereby agrees that during the Restriction Period,
  the Holder will not sell or otherwise dispose of any shares of Common Stock or
  any options, warrants or other rights to purchase shares of Common Stock or
  any other security of the Company which Holder owns or has a right to acquire
  as of the date hereof or acquires hereafter during the Restriction Period,
  other than in connection with an offer made to all shareholders of the Company
  in connection with any merger, consolidation or similar transaction involving
  the Company. Holder further agrees that the Company is authorized to and the
  Company agrees to place "stop orders" on its books to prevent any transfer of
  shares of Common Stock or other securities of the Company held by Holder in
  violation of this Agreement. 

  b. Any subsequent issuance to and/or acquisition of shares
  or the right to acquire shares by Holder will be subject to the provisions of
  this Agreement. 

  c. The foregoing restrictions
  notwithstanding, the Holder may sell during the Restriction Period, shares of
  Common Stock actually owned by the Holder on the Initial Closing Date (as
  defined in the Subscription Agreement) if such sales are for more than $0.70
  per share. 

  In no event may more than one percent (1%) of the amount of
  shares of Common Stock actually owned by the Holder on the Initial Closing
  Date be sold during any thirty (30) day period. 

  d. Notwithstanding the foregoing restrictions on transfer,
  the Holder may, at any tine and from time to time during the Restriction
  Period, transfer the Common Stock (i) as bona fide gifts or transfers by will
  or intestacy, (ii) to any trust for the direct or indirect benefit of the
  undersigned or the immediate family of the Holder, provided that any such
  transfer shall not involve a disposition for value, (iii) to a partnership
  which is the general partner of a partnership of which the Holder is a general
  partner, provided, that, in the case of any gift or transfer described in
  clauses (i), (ii) or (iii), each donee or transferee agrees in writing to be
  bound by the terms and conditions contained herein in the same manner as such
  terms and conditions apply to the undersigned. For purposes hereof, "immediate
  family" means any relationship by blood, marriage or adoption, not more remote
  than first cousin. 

3. Miscellaneous. 

  a. At any time, and from time to time, after the signing of
  this Agreement Holder will execute such additional instruments and take such
  action as may be reasonably requested by the Subscribers to carry out the
  intent and purposes of this Agreement. 

  b. This Agreement shall be governed, construed and enforced
  in accordance with the laws of the State of New York without regard to
  conflicts of laws principles that would result in the application of the
  substantive laws of another jurisdiction, except to the extent that the
  securities laws of the state in which Holder resides and federal securities
  laws may apply. Any proceeding brought to enforce this Agreement may be
  brought exclusively in courts sitting in New York County, New York. 
  

  c. This Agreement contains the entire agreement of the
  Holder with respect to the subject matter hereof. 

  d. This Agreement shall be binding upon Holder, its legal
  representatives, successors and assigns. 

  e. This Agreement may be signed and delivered by facsimile
  and such facsimile signed and delivered shall be enforceable. 

  f. The Company agrees not to take any action or allow any
  act to be taken which would be inconsistent with this Agreement. 

- 2 - 

IN WITNESS WHEREOF, and intending to be legally bound hereby, Holder has
executed this Agreement as of the day and year first above written. 

	 	HOLDER:
	 	 
	 	 
	 	/s/ Mary K.
    Whelan
	 	(Signature of
    Holder)
	 	 
	 	 
	 	Mary K. Whelan
	 	(Print name of
    Holder)
	 	 
	 	 
	 	2,318,422
	 	Number of shares
    of Common Stock
	 	Beneficially
    Owned
	 	 
	 	 
	 	 
	 	Note Principal
    Owned on the date of this
	 	Agreement
	 	 
	 	 
	 	COMPANY:
	 	 
	 	BIOELECTRONICS
    CORPORATION
	 	 
	 	 
	 	By:
	 	Name:
	 	Title:

- 3 -BioElectronics Corporation - Exhibit 4.7 - Prepared By TNT Filings Inc.

 

Exhibit 4.7 

LIMITED STANDSTILL AGREEMENT 

This AGREEMENT (the "Agreement") is made as of the 4th
day of December, 2005, by the signatories hereto (each a "Holder"), in
connection with his ownership of shares of BioElectronics Corporation, a
Maryland corporation (the "Company"). 

NOW THEREFORE, for good and valuable consideration, the
sufficiency and receipt of which consideration are hereby acknowledged, Holder
agrees as follows: 

1. Background. 

  a. Holder is the beneficial owner of the amount of shares of
  the Common Stock, $0.001 par value, of the Company ("Common Stock") and rights
  to purchase Common Stock designated on the signature page hereto, some or all
  of which are owned by virtue of Holder’s ownership of a note convertible into
  Common Stock. 

  b. Holder acknowledges that the Company has entered into or
  will enter into an agreement with each subscriber ("Subscription Agreement")
  to the Company’s secured convertible promissory notes and warrants (the
  "Subscribers"), for the sale to the Subscribers of an aggregate of up to
  $1,000,000 of principal amount of secured convertible promissory notes and
  warrants (the "Offering"). Holder understands that, as a condition to
  proceeding with the Offering, the Subscribers have required, and the Company
  has agreed to obtain an agreement from the Holder to refrain from selling any
  securities of the Company from the date of the Subscription Agreement until
  the end of the Exclusion Period as defined in the Subscription Agreement (the
  "Restriction Period"). 

2. Share Restriction. 

  a. Holder hereby agrees that during the Restriction Period,
  the Holder will not sell or otherwise dispose of any shares of Common Stock or
  any options, warrants or other rights to purchase shares of Common Stock or
  any other security of the Company which Holder owns or has a right to acquire
  as of the date hereof or acquires hereafter during the Restriction Period,
  other than in connection with an offer made to all shareholders of the Company
  in connection with any merger, consolidation or similar transaction involving
  the Company. Holder further agrees that the Company is authorized to and the
  Company agrees to place "stop orders" on its books to prevent any transfer of
  shares of Common Stock or other securities of the Company held by Holder in
  violation of this Agreement. 

  b. Any subsequent issuance to and/or acquisition of shares
  or the right to acquire shares by Holder will be subject to the provisions of
  this Agreement. 

  c. The foregoing restrictions
  notwithstanding, the Holder may sell during the Restriction Period, shares of
  Common Stock actually owned by the Holder on the Initial Closing Date (as
  defined in the Subscription Agreement) if such sales are for more than $0.70
  per share. 

  In no event may more than one percent (1%) of the amount of
  shares of Common Stock actually owned by the Holder on the Initial Closing
  Date be sold during any thirty (30) day period. 

  d. Notwithstanding the foregoing restrictions on transfer,
  the Holder may, at any tine and from time to time during the Restriction
  Period, transfer the Common Stock (i) as bona fide gifts or transfers by will
  or intestacy, (ii) to any trust for the direct or indirect benefit of the
  undersigned or the immediate family of the Holder, provided that any such
  transfer shall not involve a disposition for value, (iii) to a partnership
  which is the general partner of a partnership of which the Holder is a general
  partner, provided, that, in the case of any gift or transfer described in
  clauses (i), (ii) or (iii), each donee or transferee agrees in writing to be
  bound by the terms and conditions contained herein in the same manner as such
  terms and conditions apply to the undersigned. For purposes hereof, "immediate
  family" means any relationship by blood, marriage or adoption, not more remote
  than first cousin. 

3. Miscellaneous. 

  a. At any time, and from time to time, after the signing of
  this Agreement Holder will execute such additional instruments and take such
  action as may be reasonably requested by the Subscribers to carry out the
  intent and purposes of this Agreement. 

  b. This Agreement shall be governed, construed and enforced
  in accordance with the laws of the State of New York without regard to
  conflicts of laws principles that would result in the application of the
  substantive laws of another jurisdiction, except to the extent that the
  securities laws of the state in which Holder resides and federal securities
  laws may apply. Any proceeding brought to enforce this Agreement may be
  brought exclusively in courts sitting in New York County, New York. 
  

  c. This Agreement contains the entire agreement of the
  Holder with respect to the subject matter hereof. 

  d. This Agreement shall be binding upon Holder, its legal
  representatives, successors and assigns. 

  e. This Agreement may be signed and delivered by facsimile
  and such facsimile signed and delivered shall be enforceable. 

  f. The Company agrees not to take any action or allow any
  act to be taken which would be inconsistent with this Agreement. 

- 2 - 

IN WITNESS WHEREOF, and intending to be legally bound hereby, Holder has
executed this Agreement as of the day and year first above written. 

	 	HOLDER:
	 	 
	 	 
	 	/s/ Andrew J.
    Whelan
	 	(Signature of
    Holder)
	 	 
	 	 
	 	Andrew J.
    Whelan
	 	(Print name of
    Holder)
	 	 
	 	 
	 	30,912,964
	 	Number of shares
    of Common Stock
	 	Beneficially
    Owned
	 	 
	 	 
	 	 
	 	Note Principal
    Owned on the date of this
	 	Agreement
	 	 
	 	 
	 	COMPANY:
	 	 
	 	BIOELECTRONICS
    CORPORATION
	 	 
	 	 
	 	By:
	 	Name:
	 	Title:

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