Document:

China Security & Surveillance Technology, Inc.: Exhibit 10.3 - Prepared
by TNT Filings Inc.

  

Exhibit 10.3

LOCK-UP AGREEMENT 

THIS LOCK-UP AGREEMENT
(the "Agreement") is
made and entered into as of October 2, 2009 between the stockholder set forth on
the signature page to this Agreement (the "Related Party Holder")
and Brean Murray, Carret & Co., LLC ("BMC").

RECITALS 

A. China Security &
Surveillance Technology, Inc. (the "Company")
has entered into that certain Securities Purchase Agreement, dated October 2,
2009 (the "Purchase Agreement") with certain investors set forth on the
signature pages thereto (the "Investors")
pursuant to which the Company will issue and sell an aggregate of $58.5 million
of securities to the Investors. The Related Party Holder is the director and
Chief Executive Officer of the Company and the legal and beneficial owner of the
Related Party Holder’s Shares (as defined blow). 

B. As an inducement
for the Investors to enter into and consummate the transactions contemplated by
the Purchase Agreement, the Related Party Holder has agreed to execute, deliver
and be bound by the terms and conditions of this Agreement. 

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: 

1. Effectiveness of
Agreement. Related Party Holder has independently evaluated the merits of
his decision to enter into and deliver this Agreement, and such Related Party
Holder confirms that he has not relied on the advice of BMC or any other person
in undertaking to execute this Agreement. 

2. Representations
and Warranties. Each of the parties hereto, by their respective execution
and delivery of this Agreement, hereby represents and warrants to the others and
to all third party beneficiaries of this Agreement 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 the binding and enforceable
obligation of such party, 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. 

3. Beneficial
Ownership. Related Party Holder hereby represents and warrants that he does
not beneficially own (as determined in accordance with Section 13(d) of the
Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder) any shares of the common stock of the Company (the "CSST Common
Stock"), or any economic interest therein or derivative therefrom, other
than those shares of CSST Common Stock specified on his signature page to this
Agreement. For purposes of the Agreement, the shares of CSST Common Stock
beneficially owned by such Related Party Holder as specified on its signature
page to this Agreement are collectively referred to as the "Related Party
Holder’s Shares." 

4. Lockup. From
and after the date of this Agreement and through and including December 1, 2009
(the "Lockup Period"), the Related Party Holder irrevocably agrees it
will not, directly or indirectly, offer, sell, pledge (except for any pledges
reflected on a Schedule 13D filed prior to October 1, 2009 and pledges made to
secure guarantees of bona fide debt obligations for money borrowed by the
Company’s subsidiaries in the ordinary course of business, consistent with past
practices for giving such pledges), announce the intention to 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 of its Related Party Holder’s Shares (including any securities
convertible into, or exchangeable for, or representing the rights to receive,
Related Party Holder’s Shares) without BMC’s prior written consent. In
furtherance thereof, the Related Party Holder will cause the Company to (x)
place a stop order on all Related Party Holder’s Shares covered by any
registration statements, (y) notify the Company’s transfer agent in writing of
the stop order and the restrictions on such Related Party Holder’s Shares under
this Agreement; and (z) direct the transfer agent not to process any attempts by
the Related Party Holder to resell or transfer any Related Party Holder’s Shares
under such registration statements or otherwise in violation of this Agreement.

5. 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 Related Party Holder in connection with
this Agreement. 

6. 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. 

7. Counterparts.
This Agreement may be executed in facsimile and in any number of counterparts,
each of which when so executed and delivered shall be deemed an original, but
all of which shall together constitute one and the same agreement. 

8. 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. 

9. 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. 

10. Amendment.
This Agreement may not be amended or modified in any manner except by a written
agreement executed by each of the parties hereto. 

2 

11. 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. 

12. 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. 

13. Remedies.
BMC shall have the right to specifically enforce all of the obligations of the
Related Party Holder under this Agreement (without posting a bond or other
security), in addition to recovering damages by reason of any breach of any
provision of this Agreement and to exercise all other rights granted by law.
Furthermore, the Related Party Holder recognizes that if it fails to perform,
observe, or discharge any of its obligations under this Agreement, any remedy at
law may prove to be inadequate relief to BMC. Therefore, the Related Party
Holder agrees that BMC shall be entitled to seek temporary and permanent
injunctive relief in any such case without the necessity of proving actual
damages and without posting a bond or other security. 

14. Governing Law.
The terms and provisions of this Agreement shall be construed in accordance with
the laws of the State of New York and the federal laws of the United States of
America applicable therein. 

[Remainder of Page Intentionally Left Blank]

 

            
          
        
      
    
  

 

 

3

IN WITNESS WHEREOF,
each of the parties hereto has caused this Agreement to be executed as of the
date first above written. 

  	Brean Murray,
      Carret & Co., LLC
	 
	 
	By:	 
	Name:	 
	Title:	 
	 
	 
	 
	Name of Related
      Party Holder: Guoshen Tu 
	 
	 
	Number of
      shares of CSST Common Stockbeneficially
      owned: 16,760,435
      

 

 

Lockup AgreementChina Security & Surveillance Technology, Inc.: Exhibit 10.4 - Prepared
by TNT Filings Inc.

  

Exhibit 10.4

LOCK-UP AGREEMENT 

THIS LOCK-UP AGREEMENT
(the "Agreement") is
made and entered into as of October 2, 2009 between the stockholder set forth on
the signature page to this Agreement (the "Related Party Holder")
and Brean Murray, Carret & Co., LLC ("BMC").

RECITALS 

A. China Security &
Surveillance Technology, Inc. (the "Company")
has entered into that certain Securities Purchase Agreement, dated October 2,
2009 (the "Purchase Agreement") with certain investors set forth on the
signature pages thereto (the "Investors")
pursuant to which the Company will issue and sell an aggregate of $58.5 million
of securities to the Investors. The Related Party Holder is the director and
Chief Financial Officer of the Company and the legal and beneficial owner of the
Related Party Holder’s Shares (as defined blow). 

B. As an inducement
for the Investors to enter into and consummate the transactions contemplated by
the Purchase Agreement, the Related Party Holder has agreed to execute, deliver
and be bound by the terms and conditions of this Agreement. 

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: 

1. Effectiveness of
Agreement. Related Party Holder has independently evaluated the merits of
his decision to enter into and deliver this Agreement, and such Related Party
Holder confirms that he has not relied on the advice of BMC or any other person
in undertaking to execute this Agreement. 

2. Representations
and Warranties. Each of the parties hereto, by their respective execution
and delivery of this Agreement, hereby represents and warrants to the others and
to all third party beneficiaries of this Agreement 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 the binding and enforceable
obligation of such party, 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. 

3. Beneficial
Ownership. Related Party Holder hereby represents and warrants that he does
not beneficially own (as determined in accordance with Section 13(d) of the
Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder) any shares of the common stock of the Company (the "CSST Common
Stock"), or any economic interest therein or derivative therefrom, other
than those shares of CSST Common Stock specified on his signature page to this
Agreement. For purposes of the Agreement, the shares of CSST Common Stock
beneficially owned by such Related Party Holder as specified on its signature
page to this Agreement are collectively referred to as the "Related Party
Holder’s Shares." 

4. Lockup. From
and after the date of this Agreement and through and including December 1, 2009
(the "Lockup Period"), the Related Party Holder irrevocably agrees it
will not, directly or indirectly, offer, sell, pledge, announce the intention to
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 of its Related Party Holder’s Shares
(including any securities convertible into, or exchangeable for, or representing
the rights to receive, Related Party Holder’s Shares) without BMC’s prior
written consent. In furtherance thereof, the Related Party Holder will cause the
Company to (x) place a stop order on all Related Party Holder’s Shares covered
by any registration statements, (y) notify the Company’s transfer agent in
writing of the stop order and the restrictions on such Related Party Holder’s
Shares under this Agreement; and (z) direct the transfer agent not to process
any attempts by the Related Party Holder to resell or transfer any Related Party
Holder’s Shares under such registration statements or otherwise in violation of
this Agreement. 

5. 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 Related Party Holder in connection with
this Agreement. 

6. 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. 

7. Counterparts.
This Agreement may be executed in facsimile and in any number of counterparts,
each of which when so executed and delivered shall be deemed an original, but
all of which shall together constitute one and the same agreement. 

8. 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. 

9. 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. 

10. Amendment.
This Agreement may not be amended or modified in any manner except by a written
agreement executed by each of the parties hereto. 

11. 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. 

2 

12. 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. 

13. Remedies.
BMC shall have the right to specifically enforce all of the obligations of the
Related Party Holder under this Agreement (without posting a bond or other
security), in addition to recovering damages by reason of any breach of any
provision of this Agreement and to exercise all other rights granted by law.
Furthermore, the Related Party Holder recognizes that if it fails to perform,
observe, or discharge any of its obligations under this Agreement, any remedy at
law may prove to be inadequate relief to BMC. Therefore, the Related Party
Holder agrees that BMC shall be entitled to seek temporary and permanent
injunctive relief in any such case without the necessity of proving actual
damages and without posting a bond or other security. 

14. Governing Law.
The terms and provisions of this Agreement shall be construed in accordance with
the laws of the State of New York and the federal laws of the United States of
America applicable therein. 

[Remainder of Page Intentionally Left Blank]

 

            
          
        
      
    
  

 

 

3

IN WITNESS WHEREOF,
each of the parties hereto has caused this Agreement to be executed as of the
date first above written. 

  	Brean Murray,
      Carret & Co., LLC
	 
	 
	By:	 
	Name:	 
	Title:	 
	 
	 
	 
	Name of Related
      Party Holder: Terence Yap
	 
	 
	Number of
      shares of CSST Common Stockbeneficially
      owned: 865,000

 

 

Lockup Agreement

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