Document:

Exhibit 10.2

 

ESCROW AGREEMENT

 

This
Escrow Agreement, dated this 20th day of July, 2015 (this “Escrow Agreement”), is entered into by
and among Drone AFS Corp., a Nevada corporation (the “Buyer”), Drone Aviation
Holding Corp., a Nevada corporation (“Parent”), and Adaptive Flight, Inc., a Georgia corporation, and the contributors
of Adaptive Flight, Inc. identified on the signature page hereto (collectively, the “Sellers”). (Buyer, Parent
and Sellers are collectively referred to herein as the “Parties,” and individually, a “Party”),
and Sichenzia Ross Friedman Ference LLP, as escrow agent (“Escrow Agent”). Capitalized terms not defined herein
shall have the meanings assigned to them in the Asset Purchase Agreement (as defined herein).

 

RECITALS

 

WHEREAS, the Parties
entered into that certain Asset Purchase Agreement dated July 20, 2015 (the “Asset Purchase Agreement”);

 

WHEREAS, Section
2.5(a) of the Asset Purchase Agreement provides that, at the closing of the transactions contemplated by the Asset Purchase Agreement
(the “Closing”), One Hundred Thousand U.S. Dollars ($100,000) shall be delivered to the Escrow Agent in immediately
available funds (the “Closing Cash”); One Hundred Thousand U.S. Dollars ($100,000) shall be delivered to the
Escrow Agent in immediately available funds (the “Escrow Cash”); and Six Million (6,000,000) shares of Parent’s
unregistered common stock (“Common Stock”) shall be delivered to Escrow Agent (as such shares are subject to
adjustment as set forth herein, the “Escrow Shares”);

 

WHEREAS, the Asset
Purchase Agreement provides for payment to be made by Parent, on behalf of the Buyer, and such agreement contemplates the release
of the Closing Cash, Escrow Cash and Escrow Shares to the Sellers upon satisfaction of certain conditions, including certain milestones
to be achieved by the Sellers and the Buyers in accordance with a plan (the “Technology Integration Plan”) to
integrate the technology purchased by the Buyers from the Sellers pursuant to the Asset Purchase Agreement as set forth on Annex
A hereto;

 

WHEREAS, the Asset
Purchase Agreement provides that Sellers will indemnify the Parent and Buyer and their respective shareholders, directors, officers,
employees, affiliates, agents, representatives and permitted assigns with respect to any and all liabilities, losses, damages,
costs and expenses (including reasonable attorney’s fees and costs) (collectively, “Losses”) upon the
terms and subject to the conditions provided in the Asset Purchase Agreement, and in connection with such indemnification, the
remaining Closing Cash, Escrow Cash and the Escrow Shares to be delivered thereunder shall be placed in escrow pursuant to the
terms and subject to the conditions of this Escrow Agreement;

 

WHEREAS, the Parties
hereto acknowledge that the Escrow Agent is not a party to, is not bound by, and has no duties or obligations under Asset Purchase
Agreement, that all references in this Escrow Agreement to the Asset Purchase Agreement is for convenience, and that the Escrow
Agent shall have no implied duties beyond the express duties set forth in this Escrow Agreement; and

 

WHEREAS, the Parties
have agreed to appoint Escrow Agent to hold the Closing Cash, Escrow Cash and Escrow Shares in escrow, and Escrow Agent agrees
to hold and distribute the Closing Cash, Escrow Cash and Escrow Shares, in accordance with the terms and provisions of this Escrow
Agreement.

 

NOW, THEREFORE,
in consideration of the promises and agreements of the Parties and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Parties and Escrow Agent agree as follows:

 

ARTICLE 1

ESCROW DEPOSIT

 

Section 1.1Appointment
of Escrow Agent. The Parties hereby designate and appoint Escrow Agent as their agent to receive, hold in escrow, and disburse
the Closing Cash, Escrow Cash and Escrow Shares in accordance with the term of this Escrow Agreement, and Escrow Agent accepts
such appointment.

 

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Section 1.2Receipt
and Deposit of the Closing Cash, Escrow Cash and Escrow Shares; Commencement of Duties; Dividends and Distributions; Certain Rights
of Sellers.

 

(a)Receipt and Deposit
of the Closing Cash, Escrow Cash and Escrow Shares; Commencement of Duties.

 

(i)Upon execution hereof
and pursuant to the Asset Purchase Agreement, Parent shall deliver to Escrow Agent the Closing Cash, Escrow Cash and stock certificates
representing the Escrow Shares registered in the name of Sellers or its designee(s) (the “Certificates”) along
with written directions in connection with the deposit of the Certificates with the Escrow Agent, and Escrow Agent shall promptly
acknowledge receipt of the Funds and the Certificates to the Parties and provide a copy of the Certificates to Sellers or its designee(s).
Upon receipt of the Closing Cash, Escrow Cash and Escrow Shares by the Escrow Agent, the duties and obligations of the Escrow Agent
and the Parties to this Agreement shall commence. Immediately prior to any release of the Escrow Shares to a Seller or its designee,
Parent shall recalculate the number of Escrow Shares required to be deposited pursuant to the Agreement based upon the current
Escrow Share Value.

 

(ii)The Escrow Shares
shall be delivered by Parent to Escrow Agent free and clear of all liens, claims and encumbrances (except as may be created by
this Escrow Agreement, the Asset Purchase Agreement). During the term hereof, Sellers will not sell, assign, transfer or otherwise
dispose of, grant any option with respect to, or enter into any swap or other arrangement that transfers all or any portion of
the economic consequences associated with, or pledge or grant any security interest in, or otherwise encumber any part of the Escrow
Shares.

 

(b)Dividends and Distributions.
All dividends and distributions declared by Parent on the Escrow Shares and payable to the shareholders of Parent of record (“Dividends
and Distributions”) at any time after the date hereof until the Termination Date (as defined below), shall be payable
to Sellers or its designees, as record holder of the Escrow Shares, and will not be deposited with Escrow Agent. If Parent declares
a stock split, subdivision, combination, reclassification or any other change in its capital structure affecting the Escrow Shares,
the certificates or other instruments relating thereto shall be immediately deposited by Parent with Escrow Agent as additional
Escrow Shares to be held and distributed by Escrow Agent in accordance with this Escrow Agreement.

 

(c)Certain Rights
of Sellers. Notwithstanding anything to the contrary contained herein and for so long as the Escrow Shares remain in escrow,
the Sellers (or its designees) shall have the right to (i) vote all Escrow Shares that are not disbursed to Parent pursuant to
the terms hereof, (ii) receive any dividends and distributions in respect of the Escrow Shares that are not disbursed to Parent
pursuant to the terms hereof, and (iii) to exercise any and all other rights of a shareholder of Parent with respect to the Escrow
Shares that are not disbursed to Parent pursuant to the terms hereof.

 

(d)Deposit of Escrow
Shares. The Parties agree that Escrow Agent, in connection with any Certificates deposited pursuant to Section 1.2(a), shall
have (i) no responsibility to monitor the value of the Escrow Shares; (ii) no responsibility to collect Dividends and Distributions;
(iii) no responsibility to sell or otherwise trade the Escrow Shares, and, (iv) no responsibility to ensure the legality of the
issuance or registration of the Escrow Shares.

 

Section 1.3Procedures
with Respect to Indemnification Claims.

 

(a)Claim. If,
at any time and from time to time from the date hereof until such date that is twelve (12) months after the Closing Date of the
Asset Purchase Agreement (the “Escrow Period”), Parent and/or Buyer desires to make a claim against the Closing
Cash, Escrow Cash and/or Escrow Shares pursuant to Article VII of the Asset Purchase Agreement (each, a “Claim”),
Parent and/or Buyer shall deliver a written notice of the Claim (a “Claims Notice”) to Escrow Agent, with a
copy to Sellers, substantially in the form attached hereto as Annex I specifying the nature of the Claim, the estimated
amount of damages to which Parent and/or Buyer believes it is or may be entitled to under the Asset Purchase Agreement (the “Claimed
Amount”) and Parent and/or Buyer payment delivery instructions.

 

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(b)Response by the
Representative. Within thirty (30) calendar days after receipt by Escrow Agent of any Claims Notice (“Response Period”),
Sellers shall, with respect to such Claims Notice, by notice to Parent and/or Buyer, as applicable, and Escrow Agent (a “Response
Notice”) substantially in the form attached hereto as Annex II, either (i) concede liability for the Claimed Amount
in whole, or (ii) deny liability for the Claimed Amount in whole or in part (it being understood that any portion of the Claimed
Amount for which Sellers have not denied liability shall be deemed to have been conceded). If Sellers denies liability in whole
or in part, such Response Notice shall be accompanied by a reasonably detailed description of the basis for such denial. The Claimed
Amount for which Sellers has conceded liability is referred to herein as the “Conceded Amount.” If Sellers has
conceded liability for any portion of the Claimed Amount, Sellers, and Parent or Buyer (as applicable), by joint notice substantially
in the form attached hereto as Annex III, shall instruct Escrow Agent to promptly deliver to Parent and/or Buyer the amount
of remaining Closing Cash, Escrow Cash and/or Escrow Shares, as determined pursuant to Section 1.5 hereto, representing the Conceded
Amount specified in such notice (such joint notice, the “Conceded Amount Notice”); provided, however,
that if Sellers fails to deliver a Response Notice within the thirty (30) calendar day period, Sellers shall be deemed to have
conceded the Claimed Amount in full (the “Deemed Concession”) (and the Claimed Amount in full of such Deemed
Concession shall constitute a “Conceded Amount”) and Escrow Agent shall promptly deliver to Parent and/or Buyer
the amount of remaining Closing Cash,, Escrow Cash and/or Escrow Shares, as determined pursuant to Section 1.5 hereto, representing
the Conceded Amount of the Deemed Concession.

 

(c)Resolutions of
Disputes.

 

(i)If Sellers has denied
liability for, or otherwise disputes the Claimed Amount, in whole or in part, Sellers, Buyer and Parent, on behalf of the applicable
claimant, shall attempt to resolve such dispute within thirty (30) calendar days. If the Parties resolve such dispute, they shall
deliver to Escrow Agent a Conceded Amount Notice signed by all of Sellers, Buyer and Parent. Such Conceded Amount Notice shall
instruct Escrow Agent to deliver to the Parent the amount, if any, of Escrow Shares agreed to by both the Parties in settlement
of such dispute.

 

(ii)If the Parties
fail to resolve such dispute within thirty (30) calendar days after receipt by Escrow Agent of the Response Notice corresponding
to such dispute, the issue of liability for any such dispute with respect to Claims made pursuant to Article VII of the Asset Purchase
Agreement shall be submitted to arbitration for the purposes of obtaining a final, conclusive and binding decision (the “Final
Decision”). Such Final Decision shall contain the amount, if any, of the Party’s liability for the Claimed Amount
as finally determined by such arbitration (the “Ordered Amount”). The arbitration shall be in conformity with
and subject to the applicable rules and procedures of American Arbitration Association in New York, New York. The arbitration shall
be conducted before a panel of three (3) arbitrators, with one arbitrator to be selected by the Sellers, one by the Parent and
the third arbitrator to be selected by the arbitrators selected by the Parties. The Parties agree to be (A) subject to the jurisdiction
and venue of the arbitration in New York, NY, (B) bound by the decision of the arbitrator as the final decision with respect to
the dispute, and (C) subject to the jurisdiction of the federal courts of the United States of America or the courts of the State
of New York in each case located in the County of New York, New York for the purpose of confirmation and enforcement of any award.
Upon reaching the Final Decision, Buyer and Parent shall deliver to Escrow Agent a notice setting forth the Ordered Amount, and
any corresponding documentation illustrating the Final Decision.

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(d)Payment of Claims.

 

(i)Escrow Agent shall
promptly deliver the applicable amount of remaining Closing Cash, Escrow Cash or number of Escrow Shares, as determined pursuant
to the provisions set forth in Section 1.5 (the “Payment Shares”), no later than the fifth (5th)
business day following the determination of a Payment Event (as such term is defined below), to Parent from the remaining Closing
Cash, Escrow Cash and/or Escrow Shares: (i) following any concession of liability by Sellers, in whole or in part, the Conceded
Amount as set forth in the Conceded Amount Notice; (ii) following any Deemed Concession of liability by Sellers, the Conceded Amount;
or (iii) following receipt by Escrow Agent of any Final Decision, the Ordered Amount (collectively, clauses (i) (ii) and (iii),
the “Payment Events”).

 

(ii)Upon the occurrence
of a Payment Event, in the event that Escrow Agent must deliver any Payment Shares to Parent, Escrow Agent shall return to Parent
the Certificate(s) then held by Escrow Agent (the “Primary Certificate(s)”), and Parent shall deliver the Primary
Certificate(s) to Equity Stock Transfer, LLC, the transfer agent of Parent (the “Transfer Agent”), with a letter
of instruction and any other document required by the Transfer Agent in connection therewith, from Parent directing the Transfer
Agent to: (i) cancel the Primary Certificate(s); (ii) issue a new stock certificate registered to Parent or cancel the shares representing
the number of the Payment Shares, which shall be delivered by the Transfer Agent to Parent; and (iii) issue a new stock certificate,
or new stock certificates, registered to Sellers or its designees representing the Escrow Shares less the Payment Shares, which
shall be delivered by the Transfer Agent to Escrow Agent to be held in escrow in accordance with the terms set forth herein.

 

Section 1.4
Disbursements.

 

(a)Subject to adjustments
for any disbursements made pursuant to Sections 1.4(b), (c), (d) and (e), upon receipt of joint written notice from the Parties
that one or more milestones set forth in Annex A has been satisfied, Escrow Agent shall release that portion of the
Closing Cash, Escrow Cash and/or Escrow Shares corresponding to such milestone(s) as set forth in Annex A.

 

(b)Upon the earlier of
termination of this Escrow Agreement pursuant to Section 1.6 hereof or joint written notice from the Parties, Escrow Agent
shall release from the remaining Closing Cash, Escrow Cash and/or Escrow Shares to Sellers or its designees, any portion of the
remaining Closing Cash, Escrow Cash and/or Escrow Shares then remaining less the aggregate Claimed Amount for all then outstanding
claims for any Losses (“Outstanding Claims”) pursuant to Section VII of the Asset Purchase Agreement asserted
within the Claims Period.

 

(c)Upon receipt of a
Conceded Amount Notice with respect to a particular Outstanding Claim, Escrow Agent shall promptly deliver to Parent, the Conceded
Amount in accordance with Section 1.3(b) herein.

 

(d)Upon receipt of a
Final Decision with respect to a particular Outstanding Claim, Escrow Agent shall promptly deliver to Parent, as the case may be,
the Ordered Amount, if any, in accordance with Section 1.3(d)(ii) herein. Any court or arbitrator order shall be accompanied by
an opinion of counsel for the presenting party that such order is final and non-appealable.

 

(e)In the event that
the Parties jointly instruct Escrow Agent to disburse the remaining Closing Cash, Escrow Cash and/or Escrow Shares to any party,
Escrow Agent shall comply with such instructions, any provision herein to the contrary notwithstanding.

 

Section 1.5Value
of Escrow Shares.For purposes of this Agreement and determining the applicable number of Escrow Shares to be delivered
by the Escrow Agent, the value of each Escrow Share (the “Escrow Share Value”) shall be determined pursuant
to Schedule 1.5 attached hereto. The number of Payment Shares to be delivered by the Escrow Agent pursuant to Section
1.3(d) shall be determined by dividing (i) the Conceded Amount or the Ordered Amount, as applicable; by (ii) the Escrow Share
Value.

 

Section 1.6Termination.
So long as no unresolved Claims Notices remain outstanding, this Escrow Agreement shall terminate on such date as is twelve (12)
months after the Closing Date of the Asset Purchase Agreement (the “Termination Date”), at which time Escrow
Agent is authorized and directed to disburse the remaining Closing Cash, Escrow Cash and Escrow Shares in accordance with Section
1.4 and Section 1.5 and this Escrow Agreement shall be of no further force and effect except that the provisions of
Sections 3.1 and 3.2 hereof shall survive termination.

 

ARTICLE 2

DUTIES OF THE ESCROW AGENT

 

Section 2.1Scope
of Responsibility. Notwithstanding any provision to the contrary, Escrow Agent is obligated only to perform the duties specifically
set forth in this Escrow Agreement, which shall be deemed purely ministerial in nature. Under no circumstances will Escrow Agent
be deemed to be a fiduciary to any Party or any other person under this Escrow Agreement. Escrow Agent will not be responsible
or liable for the failure of any Party to perform in accordance with this Escrow Agreement. Escrow Agent shall neither be responsible
for, nor chargeable with, knowledge of the terms and conditions of any other agreement, instrument, or document other than this
Escrow Agreement, whether or not an original or a copy of such agreement has been provided to Escrow Agent; and Escrow Agent shall
have no duty to know or inquire as to the performance or nonperformance of any provision of any such agreement, instrument, or
document. References in this Escrow Agreement to any other agreement, instrument, or document are for the convenience of the Parties,
and Escrow Agent has no duties or obligations with respect thereto. This Escrow Agreement sets forth all matters pertinent to the
escrow contemplated hereunder, and no additional obligations of Escrow Agent shall be inferred or implied from the terms of this
Escrow Agreement or any other agreement.

 

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Section 2.2Attorneys and Agents.
Escrow Agent shall be entitled to rely on and shall not be liable for any action taken or omitted to be taken by Escrow Agent in
accordance with the advice of counsel or other professionals retained or consulted by Escrow Agent. Escrow Agent shall be reimbursed
as set forth in Section 3.1 herein for any and all reasonable compensation (fees, expenses and other costs) paid and/or
reimbursed to such counsel and/or professionals. Escrow Agent may perform any and all of its duties through its agents, representatives,
attorneys, custodians, and/or nominees.

 

Section 2.3Reliance.
Escrow Agent shall not be liable for any action taken or not taken by it in accordance with the direction or consent of the Parties
or their respective agents, representatives, successors, or assigns. Escrow Agent shall not be liable for acting or refraining
from acting upon any notice, request, consent, direction, requisition, certificate, order, affidavit, letter, or other paper or
document believed by it to be genuine and correct and to have been signed or sent by the proper person or persons, without further
inquiry into the person’s or persons’ authority. Concurrent with the execution of this Escrow Agreement, the Parties
shall deliver to Escrow Agent authorized signers’ forms in the form of Exhibit A-1 and Exhibit A-2
to this Escrow Agreement.

 

Section 2.4Right Not Duty Undertaken.
The permissive rights of Escrow Agent to do things enumerated in this Escrow Agreement shall not be construed as duties.

 

Section 2.5No Financial Obligation.
No provision of this Escrow Agreement shall require Escrow Agent to risk or advance its own funds or otherwise incur any financial
liability or potential financial liability in the performance of its duties or the exercise of its rights under this Escrow Agreement.

 

ARTICLE 3

PROVISIONS CONCERNING ESCROW AGENT

 

Section 3.1Indemnification.
The Parties, jointly and severally, shall indemnify, defend and hold harmless Escrow Agent from and against any and all loss, liability,
cost, damage and expense, including, without limitation, reasonable attorneys’ fees and expenses or other professional fees
and expenses which Escrow Agent may suffer or incur by reason of any action, claim or proceeding brought against Escrow Agent,
arising out of or relating in any way to this Escrow Agreement or any transaction to which this Escrow Agreement relates, unless
such loss, liability, cost, damage or expense shall have been finally adjudicated to have been directly caused by the willful misconduct
or gross negligence of Escrow Agent. The provisions of this Section 3.1 shall survive the resignation or removal of Escrow
Agent and the termination of this Escrow Agreement.

 

Section 3.2Limitation of Liability.
ESCROW AGENT SHALL NOT BE LIABLE, DIRECTLY OR INDIRECTLY, FOR ANY (I) DAMAGES, LOSSES OR EXPENSES ARISING OUT OF THE SERVICES PROVIDED
HEREUNDER, OTHER THAN DAMAGES, LOSSES OR EXPENSES WHICH HAVE BEEN FINALLY ADJUDICATED TO HAVE DIRECTLY RESULTED FROM ESCROW AGENT’S
GROSS NEGLIGENCE OR WILLFUL MISCONDUCT, OR (II) SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES OR LOSSES OF ANY KIND WHATSOEVER (INCLUDING
WITHOUT LIMITATION LOST PROFITS), EVEN IF ESCROW AGENT HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSSES OR DAMAGES AND REGARDLESS
OF THE FORM OF ACTION.

 

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Section 3.3Resignation
or Removal. Escrow Agent may resign by furnishing written notice of its resignation to the Parties, and the Parties may remove
Escrow Agent by furnishing to the Escrow Agent a joint written notice of its removal along with payment of all fees and expenses
to which it is entitled through the date of termination. Such resignation or removal, as the case may be, shall be effective thirty
(30) days after the delivery of such notice or upon the earlier appointment of a successor, and Escrow Agent’s sole responsibility
thereafter shall be to safely keep the Escrow Shares and to deliver the same to a successor escrow agent as shall be appointed
by the Parties, as evidenced by a joint written notice filed with Escrow Agent or in accordance with a court order. If the Parties
have failed to appoint a successor escrow agent prior to the expiration of thirty (30) days following the delivery of such notice
of resignation or removal, Escrow Agent may petition any court of competent jurisdiction for the appointment of a successor escrow
agent or for other appropriate relief, and any such resulting appointment shall be binding upon the Parties.

 

Section 3.4Compensation.
The Parties agree that Parent will pay the fees, expenses or other amounts owed to Escrow Agent hereunder. The fee agreed upon
for the services rendered hereunder is intended as full compensation for Escrow Agent's services as contemplated by this Escrow
Agreement; provided, however, that in the event that the conditions for the disbursement of funds under this Escrow
Agreement are not fulfilled, or Escrow Agent renders any service not contemplated in this Escrow Agreement, or there is any assignment
of interest in the subject matter of this Escrow Agreement, or any material modification hereof, or if any material controversy
arises hereunder, or Escrow Agent is made a party to any litigation pertaining to this Escrow Agreement or the subject matter hereof,
then Escrow Agent shall be compensated for such extraordinary services and reimbursed for all reasonable costs and expenses, including
reasonable attorneys’ fees and expenses, occasioned by any such delay, controversy, litigation or event. Escrow Agent shall
not, and is not granted, any lien upon the Escrow Shares with respect to its unpaid fees, non-reimbursed expenses and unsatisfied
indemnification rights, superior to the interests of any other persons or entities.

 

Section 3.5 Disagreements. If
any conflict, disagreement or dispute arises between, among, or involving any of the parties hereto concerning the meaning or validity
of any provision hereunder or concerning any other matter relating to this Escrow Agreement, or Escrow Agent is in doubt as to
the action to be taken hereunder, Escrow Agent is authorized to retain the remaining Closing Cash, Escrow Cash and/or Escrow Shares
until Escrow Agent (a) receives a final non-appealable order of a court of competent jurisdiction or a final non-appealable arbitration
decision directing delivery of the remaining Closing Cash, Escrow Cash and/or Escrow Shares, (b) receives a written agreement executed
by each of the parties involved in such disagreement or dispute directing delivery of the remaining Closing Cash, Escrow Cash and/or
Escrow Shares, in which event Escrow Agent shall be authorized to disburse the Escrow Shares in accordance with such final court
order, arbitration decision, or agreement, or (c) files an interpleader action in any court of competent jurisdiction, and upon
the filing thereof, Escrow Agent shall be relieved of all liability as to the remaining Closing Cash, Escrow Cash and/or Escrow
Shares and shall be entitled to recover attorneys’ fees, expenses and other costs incurred in commencing and maintaining
any such interpleader action. Escrow Agent shall be entitled to act on any such agreement, court order, or arbitration decision
without further question, inquiry, or consent. The Parent and Buyer agree to look to the remaining Closing Cash, Escrow Cash first
and the Escrow Shares second with respect the fulfillment of any indemnification obligations of Sellers under the Asset Purchase
Agreement.

 

Section 3.6Merger
or Consolidation. Any corporation or association into which Escrow Agent may be converted or merged, or with which it may be
consolidated, or to which it may sell or transfer all or substantially all of its corporate trust business and assets as a whole
or substantially as a whole, or any corporation or association resulting from any such conversion, sale, merger, consolidation
or transfer to which Escrow Agent is a party, shall be and become the successor escrow agent under this Escrow Agreement and shall
have and succeed to the rights, powers, duties, immunities and privileges as its predecessor, without the execution or filing of
any instrument or paper or the performance of any further act.

 

Section 3.7Attachment of Escrow; Compliance
with Legal Orders. In the event that any remaining Closing Cash, Escrow Cash and/or Escrow Shares shall be attached,
garnished or levied upon by any court order, or the delivery thereof shall be stayed or enjoined by an order of a court, or any
order, judgment or decree shall be made or entered by any court order affecting the remaining Closing Cash, Escrow Cash and/or
Escrow Shares, Escrow Agent is hereby expressly authorized, in its sole discretion, to respond as it deems appropriate or to comply
with all writs, orders or decrees so entered or issued, or which it is advised by legal counsel of its own choosing is binding
upon it, whether with or without jurisdiction. In the event that Escrow Agent obeys or complies with any such writ, order or decree
it shall not be liable to any of the Parties or to any other person, firm or corporation, should, by reason of such compliance
notwithstanding, such writ, order or decree be subsequently reversed, modified, annulled, set aside or vacated.

 

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Section 3.8 Force Majeure. Escrow
Agent shall not be responsible or liable for any failure or delay in the performance of its obligation under this Escrow Agreement
arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including, without limitation,
acts of God; earthquakes; fire; flood; wars; acts of terrorism; civil or military disturbances; sabotage; epidemic; riots; interruptions,
loss or malfunctions of utilities, computer (hardware or software) or communications services; accidents; labor disputes; acts
of civil or military authority or governmental action; it being understood that Escrow Agent shall use commercially reasonable
efforts which are consistent with accepted practices in the banking industry to resume performance as soon as reasonably practicable
under the circumstances.

 

ARTICLE 4

MISCELLANEOUS

 

Section 4.1Successors
and Assigns. This Escrow Agreement shall be binding on and inure to the benefit of the Parties and Escrow Agent and their respective
successors and permitted assigns. No other persons shall have any rights under this Escrow Agreement. No assignment of the interest
of any of the Parties shall be binding unless and until written notice of such assignment shall be delivered to the other Party
and Escrow Agent and shall require the prior written consent of the other Party and Escrow Agent (such consent not to be unreasonably
withheld).

 

Section 4.2Escheat. The Parties
are aware that under applicable state law, property which is presumed abandoned may under certain circumstances escheat to the
applicable state. Escrow Agent shall have no liability to the Parties, their respective heirs, legal representatives, successors
and assigns, or any other party, should any or all of the Escrow Shares escheat by operation of law.

 

Section 4.3 Notices. All notices,
requests, demands, and other communications required under this Escrow Agreement (each, a “Notice”) shall
be in writing, in English, and shall be deemed to have been duly given if delivered (a) personally, (b) by facsimile transmission
with written confirmation of receipt, (c) by overnight delivery with a reputable national overnight delivery service, or (d) by
mail or by certified mail, return receipt requested, and postage prepaid. If any Notice is mailed, it shall be deemed given five
(5) business days after the date such notice is deposited in the United States mail. Any Notice given shall be deemed given upon
the actual date of such delivery. If any Notice is given to a party, it shall be given at the address for such party set forth
below. It shall be the responsibility of the Parties to notify Escrow Agent and the other Party in writing of any name or address
changes. In the case of any Notice delivered to Escrow Agent, such Notice shall be deemed to have been given on the date received
by the Escrow Agent.

 

(a)If to Sellers, to:

 

Adaptive Flight, Inc.

3041 Hallman Circle

Marietta, GA
30064

Fax:

Attention: Henrik
Christophersen

 

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

 

Siavage Law Group, LLC

1360 Peachtree Street, Suite
1500

Atlanta, Georgia 30309

Fax: 404-351-5280

Attention: Michael
Siavage

 

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(b)If to Buyer or Parent,
to:

 

Drone Aviation
Corp

11651 Central Parkway,
#118

Jacksonville, FL
32224

PH: (904) 834-4400

Fax: (904)
834-4360

Attention: Chief
Executive Officer

 

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

 

Sichenzia Ross
Friedman Ference LLP

61 Broadway, 32nd
Floor

New York, New York
10006

Fax: (212) 930-9725

Attention: Harvey
Kesner, Esq.

 

(c)If to
Escrow Agent:

 

Sichenzia Ross Friedman
Ference LLP

61 Broadway, 32nd
Floor 10006

Fax: (212) 930-9725

Attention: Harvey Kesner,
Esq.

 

With a copy to Sellers,
if Parent is giving the Notice to Escrow Agent

With a copy to Parent, if Sellers is giving the Notice to Escrow Agent

 

Section 4.4Governing
Law. This Escrow Agreement, and all claims or causes of action that may be based upon, arise out of or relate to this Escrow
Agreement will be construed in accordance with and governed by the internal laws of the State of New York applicable to agreements
made and to be performed entirely within such State without regard to conflicts of laws principles thereof. Any dispute arising
under or in connection with any matter of any nature (whether sounding in contract or tort) relating to or arising out of this
Escrow Agreement, shall be resolved exclusively by arbitration. The arbitration shall be in conformity with and subject to the
applicable rules and procedures of the American Arbitration Association in New York, NY. The arbitration shall be conducted before
a panel of three (3) arbitrators, with one arbitrator to be selected by the Sellers, one by the Parent and the third arbitrator
to be selected by the arbitrators selected by the Parties. The Parties agree to be (a) subject to the exclusive jurisdiction and
venue of the arbitration in New York County, City of New York, State of New York (b) bound by the decision of the arbitrator as
the final decision with respect to the dispute, and (c) subject to the jurisdiction of both of the federal courts of the United
States of America or the courts of the State of New York for the purpose of confirmation and enforcement of any award.

 

Section 4.5Entire
Agreement. This Escrow Agreement, together with the Asset Purchase Agreement, sets forth the entire agreement and understanding
of the Parties related to the Closing Cash, Escrow Cash and/or Escrow Shares.

 

Section 4.6Amendment.
This Escrow Agreement may be amended, modified, superseded, rescinded, or canceled only by a written instrument executed by the
Parties and Escrow Agent.

 

Section 4.7Waivers.
The failure of any party to this Escrow Agreement at any time or times to require performance of any provision under this Escrow
Agreement shall in no manner affect the right at a later time to enforce the same performance. A waiver by any party to this Escrow
Agreement of any such condition or breach of any term, covenant, representation, or warranty contained in this Escrow Agreement,
in any one or more instances, shall neither be construed as a further or continuing waiver of any such condition or breach nor
a waiver of any other condition or breach of any other term, covenant, representation, or warranty contained in this Escrow Agreement.

 

    	8

    	 

    

 

 

Section 4.8Headings.
Section headings of this Escrow Agreement have been inserted for convenience of reference only and shall in no way restrict or
otherwise modify any of the terms or provisions of this Escrow Agreement.

 

Section 4.9Counterparts.
This Escrow Agreement may be executed in one or more counterparts, each of which when executed shall be deemed to be an original,
and such counterparts shall together constitute one and the same instrument. Counterparts delivered by facsimile, e-mail or other
electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

	 

 

[Signature Page Follows]

 

 

 

    	9

    	 

    

 

 

IN WITNESS WHEREOF,
this Escrow Agreement has been duly executed as of the date first written above.

 

	BUYER	 	PARENT

	Drone AFS Corp.

	 	DRONE AVIATION CORP.

	 	 	 
	 	 	 
	 	 	 
	By: /s/ Felicia Hess	 	By: /s/ Felicia Hess
	Name: Felicia Hess

	 	Name: Felicia Hess

	Title: Chief Executive Officer and Director

	 	Title: Chief Executive Officer, President and Director

	 	 	 
	 	 	 
	 	 	 
	SELLERS

	 	 
	ADAPTIVE FLIGHT, INC.

	 	 
	 	 	 
	 	 	 
	/s/ Henrik B. Christophersen	 	 
	By: Henrik B. Christophersen

	 	 
	Title: Chief Executive Officer 	 	 
	 	 	 
	/s/ Henrik B. Christophersen	 	 
	Name: Henrik B. Christophersen	 	 
	 	 	 
	/s/ Eric N. Johnson	 	 
	Name: Eric N. Johnson

	 	 
	 	 	 
	/s/ Robert Wayne Pickell	 	 
	Name: Robert Wayne Pickell

	 	 
	 	 	 
	 	 	 
	 	 	 
	Escrow
Agent

	 	 
	SICHENZIA ROSS FRIEDMAN FERENCE LLP

	 	 
	 	 	 
	 	 	 
		 	 
	By:	 	 
	Title:	 	 

 

 

    	10

    	 

    

 

Annex
A-1

 

Milestones
as Conditions to Release of Closing Cash, Escrow Cash and Escrow Shares

 

Upon
the occurrence of the following, the Closing Cash shall be released in accordance with the Seller’s instruction:

 

		a.	the
                                         Buyer and Escrow Agent receive and approve the written instruction of the Seller instructing
                                         the Escrow Agent to make payment(s) to be applied towards effectuating the Technology
                                         Integration Plan and towards AFI’s liabilities, including but not limited to all
                                         amounts owed by AFI to the property owner of the facilities rented by AFI.

 

Upon
the occurrence of the following milestones (the “Milestones”), the Escrow Cash shall be released to the Sellers:

 

		b.	the
                                         Buyer receives proof of all Third Party consents required to authorize the assignment
                                         to and assumption by the Buyer of the Purchased Contracts, including, without limitation,
                                         consent from Georgia Tech Research Corporation, and/or its affiliates (“Georgia
                                         Tech”), to the assignment and assumption to and by the Buyer, of all license
                                         agreements between the Sellers and Georgia Tech (the “License Agreements”)
                                         and Georgia Tech’s consent to the sublicense of the License Agreements to Lighter
                                         Than Air Systems Corp., a wholly-owned subsidiary of Parent; and

		c.	the
                                         Buyer receives exclusive, no-cost and perpetual license agreements to all contributing
                                         intellectual property included in or related to the Assets duly executed by each of Embedded
                                         System Design, Michael Cancienne, Wayne Pickell, Henrik Christophersen and Eric Johnson;
                                         and

		d.	the
                                         completion, in its entirety, of the Technology Integration Plan, attached hereto as Annex
                                         A-2, which plan was developed by Eric Johnson, on behalf of the Sellers, and Kevin
                                         Hess, on behalf of the Buyer.

 

		2.	If
                                         Sellers fail to obtain Georgia Tech’s consent as set forth in the milestone above,
                                         all Escrow Cash shall be returned to Parent and Sellers shall grant a sublicense of the
                                         License Agreements to Buyer (the “Contingency Sub License”), subject
                                         to, to the extent needed, Georgia Tech Research Corporation approval, which approval
                                         Sellers agree to use its best efforts to obtain, and Sellers shall be responsible for
                                         all costs and fees required to grant such Contingency Sub License to the Buyer. The Closing
                                         Cash shall be deemed to be full payment towards the license fees contemplated in the
                                         License Agreements in order to grant the Contingency Sub License.

 

		3.	If
                                         the Milestones have not been met, all remaining Escrow Cash shall be released to the
                                         Parent upon termination of this Escrow Agreement and all Assets shall be returned to
                                         AFI.

 

Upon
the occurrence of the following, the Escrow Shares shall be released to the Sellers or Sellers’ designees (subject to the
Lockup Agreement):

 

 

		1.	If
                                         all of the Milestones have been met, one-half (1/2) of the Escrow Shares shall be immediately
                                         released to the Sellers (the date of such release shall be referred to herein as the
                                         “Milestone Share Release”).
	 	 	 

		2.	If
                                         the Milestones have been met, all remaining Escrow Shares shall be released to the Sellers
                                         upon termination of this Escrow Agreement.

 

		3.	If
                                         the Milestones have not been met, all Escrow Shares shall be released to the Parent upon
                                         termination of this Escrow Agreement and the Assets shall be returned to AFI.

 

    	11

    	 

    

 

EXHIBIT
A-1

 

CERTIFICATE
AS TO AUTHORIZED SIGNATURES

 

The
specimen signatures shown below are the specimen signatures of the individuals who have been designated as authorized representatives
of Parent and are authorized to initiate and approve transactions of all types for the escrow account or accounts established
under the Escrow Agreement to which this Exhibit A-1 is attached, on behalf of Parent.

 

	Name
    / Title	Specimen
    Signature
	 	 

        
 

	 	_____________________________
	 	Signature

 

 

    	12

    	 

    

 

EXHIBIT
A-2

 

CERTIFICATE
AS TO AUTHORIZED SIGNATURES

 

The
specimen signature shown below is the specimen signature of the individual who have been designated as the authorized representative
of Sellers and is authorized to initiate and approve transactions of all types for the escrow account or accounts established
under the Escrow Agreement to which this Exhibit A-2 is attached, on behalf of the Sellers.

 

	Name
    / Title	 Specimen Signature	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	Signature	 
	 	 	 
	 	 	 
	 	 	 
	Agreed and Acknowledged By:

	 	 
	 	 	 
	SELLERS

	 	 
	ADAPTIVE FLIGHT, INC.

	 	 
	 	 	 
		 	 
	By: Henrik B. Christophersen	 	 
	Title: Chief Executive Officer 	 	 
	 	 	 
	 	 	 
	Name: Henrik B. Christophersen	 	 
	 	 	 
	 	 	 
	Name: Eric N. Johnson	 	 
	 	 	 
	 	 	 
	Name: Robert Wayne Pickell	 	 
	 	 	 
	 	 	 
	 	 	 

 

    	13

    	 

    

Annex
I

CLAIMS
NOTICE

 

Sichenzia
Ross Friedman Ference LLP

61
Broadway, 32nd Floor

New
York, New York 10006

Fax:
(212) 930-9725

Attention:
Harvey Kesner, Esq.

 

Ladies
and Gentlemen:

 

The undersigned, pursuant to Section 1.3(a)
of the Escrow Agreement, dated as of July 20, 2015, by and among Drone AFS Corp., a Nevada corporation (the “Buyer”),
Drone Aviation Holding Corp., a Nevada corporation (“Parent”), and Adaptive Flight, Inc., a Georgia corporation,
and the contributors of Adaptive Flight, Inc. identified on the signature page of the Escrow Agreement (collectively, the “Sellers”),
and Sichenzia Ross Friedman Ference LLP, as escrow agent (“Escrow Agent”) (the “Escrow Agreement”)
(terms defined in the Escrow Agreement have the same meanings when used herein), hereby certifies that Parent and Buyer are or
may be entitled to indemnification pursuant to Article VII of the Asset Purchase Agreement in an amount equal to $_______ (the
“Claimed Amount”). Parent and Buyer further certify that the nature of the Claim is as follows: [__________].

 

Unless you receive a Response Notice from Sellers
conceding liability, there is a Deemed Concession or a Conceded Amount Notice from both Sellers and Parent, you shall not make
any payment to Parent.

 

Dated:_______, 20__.

 

Drone Aviation Holding Corp.

 

By:________________________________

 

 

cc: Sellers

 

    	14

    	 

    

Annex II

RESPONSE NOTICE

 

 

Drone Aviation Corp

11653 Central Parkway, #209

Jacksonville, FL 32224

Fax: (727) 388-8361

Attention: Dan Erdberg

 

Sichenzia Ross Friedman Ference LLP

61 Broadway, 32nd Floor

New York, New York 10006

Fax: (212) 930-9725

Attention: Harvey Kesner, Esq.

 

Ladies and Gentlemen:

 

The undersigned (“Sellers”),
pursuant to Section 1.3(b) of the Escrow Agreement, dated as of July 20, 2015 by and among the Sellers, Drone AFS Corp.,
a Nevada corporation (the “Buyer”), Drone Aviation Holding Corp., a Nevada corporation (“Parent”),
and Sichenzia Ross Friedman Ference LLP, as escrow agent (the “Escrow Agent”) (the “Escrow Agreement”)
(terms defined in the Escrow Agreement have the same meanings when used herein), hereby:

 

(a)concedes liability
[in whole for] [in part in respect of $____ of] the Claimed Amount (the “Conceded Amount”), referred to in the
Claims Notice dated ________, 20__ pursuant to Article VII of the Asset Purchase Agreement; [and] [or]

 

(b)denies liability
[in whole for] [in part in respect of $____ of] the Claimed Amount referred to in the Claims Notice dated _________, 20__ pursuant
to Article VII of the Asset Purchase Agreement.

 

Attached hereto is a description of the basis
for the foregoing.

 

Dated:_______, 20__.

 

SELLERS

 

By:________________________________________

 

 

 

cc:Drone AFS Corp. and Drone Aviation Holding
Corp.

 

    	15

    	 

    

Annex III

CONCEDED AMOUNT NOTICE

 

Drone Aviation Corp

11653 Central Parkway, #209

Jacksonville, FL 32224

Fax: (727) 388-8361

Attention: Dan Erdberg

 

Sichenzia Ross Friedman Ference LLP

61 Broadway, 32nd Floor

New York, New York 10006

Fax: (212) 930-9725

Attention: Harvey Kesner, Esq.

 

Ladies and Gentlemen:

 

The undersigned, pursuant to Section 1.3[(b)
or (c)] of the Escrow Agreement, dated as of July 20, 2015, by and among Drone AFS Corp., a Nevada corporation (the “Buyer”),
Drone Aviation Holding Corp., a Nevada corporation (“Parent”), Adaptive Flight, Inc., a Georgia corporation,
and the contributors of Adaptive Flight, Inc. identified on the signature page of the Escrow Agreement (collectively, the “Sellers”)
and Sichenzia Ross Friedman Ference LLP, as escrow agent (the “Escrow Agent”) (the “Escrow Agreement”)
(terms defined in the Escrow Agreement have the same meanings when used herein), hereby jointly:

 

(a)certify that [a
portion of] the Claimed Amount with respect to the matter described in the attached in the amount of $[________] (the “Conceded
Amount”) is owed to [________]; and

 

(b)instruct
you to promptly pay to [________] from the Escrow Shares $_______ [insert amount pursuant to paragraph (a)] as soon as practicable
following your receipt of this notice and, in any event, no later than five (5) business days following the date hereof.

 

Dated:_______, 20__.

 

Drone Aviation Holding Corp.

 

By:_____________________________

 

 

SELLERS

 

By:_____________________________

 

    	16

    	 

    

 

SCHEDULE 1.5

ESCROW SHARE VALUE

 

“Determination Date” shall
mean (i) the date of the Conceded Amount Notice; (ii) the date of the Deemed Concession; (iii) the date of the Final Decision,
(iv) the date of the Milestone Share Release or (v) the Termination Date, as applicable.

 

The Escrow Share Value shall be equal to the average
closing price as reported on the OTC Markets for the Common Stock during the fifteen (15) Trading Days prior to the Determination
Date.

 

Upon the Termination Date, if the sum of (i) the
Escrow Share Value of the Escrow Shares previously released to Sellers upon the date of the Milestone Share Release and (ii) the
Escrow Share Value of the Escrow Shares to be released to Sellers on the Termination Date is less than $1,400,000.00 (minus the
Escrow Share Value of any Escrow Shares released to Parent pursuant to indemnification claim(s) of Parent and/or Buyer hereunder)
(such aggregate value to be referred to herein as the “Termination Date Aggregate Share Value”), Parent will
issue an additional number of unregistered shares of common stock of Parent to Sellers as needed to provide Sellers with the Termination
Date Aggregate Share Value; provided however, that in no event shall Parent be required to issue more than an additional 2,000,000
shares of unregistered common stock of Parent to Sellers pursuant to this paragraph.Exhibit 10.3

LOCKUP
AGREEMENT

 

July
20, 2015

Ladies
and Gentlemen:

 

Adaptive
Flight, Inc., a Georgia corporation (“AFI”), and the shareholders of Adaptive Flight, Inc. identified in the
Asset Purchase Agreement (collectively, the “Sellers”), have entered into an Asset Purchase Agreement (the
“Asset Purchase Agreement”) with Drone Aviation Holding Corp., a Nevada corporation (the “Parent”)
and Drone AFS Corp., a Nevada corporation (the “Buyer”), pursuant to which the Sellers have agreed to sell
AFI’s assets to Buyer. The Purchase Price consists of a $200,000 cash payment and shares of the Parent’s common stock
(“Common Stock”). The Common Stock issued as part of the purchase price are subject to this Lockup Agreement.
Pursuant to its rights under the Asset Purchase Agreement, the Sellers designated the undersigned to be the beneficial owner of
certain shares of the Common Stock identified in the signature block hereto (the “Subject Shares”). The undersigned
understands that the Parent and the Buyer will proceed with the transactions contemplated by the Asset Purchase Agreement (the
“Transactions”) in reliance on this Lockup Agreement. Capitalized terms not otherwise defined herein shall
have the meanings ascribed to them in the Asset Purchase Agreement.

 

1.In
recognition of the benefit that the Transactions will confer upon the undersigned, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the undersigned agrees, for the benefit of the Parent and Buyer,
that, during the period beginning on the Closing Date of the Asset Purchase Agreement and ending twelve (12) months after such
date (the “Lock-Up Period”), the undersigned will not, directly or indirectly, (i) offer, sell, offer to sell,
contract to sell, hedge, pledge, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase or sell (or announce any offer, sale, offer of sale, contract of sale, hedge, pledge, sale of any
option or contract to purchase, purchase of any option or contract of sale, grant of any option, right or warrant to purchase
or other sale or disposition), or otherwise transfer or dispose of (or enter into any transaction or device that is designed to,
or could be expected to, result in the disposition by any person at any time in the future), any of the Subject Shares beneficially
owned, within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
by the undersigned on the date hereof or hereafter acquired or (ii) enter into any swap or other agreement or any transaction
that transfers, in whole or in part, directly or indirectly, the economic consequence of ownership of any of the Subject Shares,
whether any such swap or transaction described in clause (i) or (ii) above is to be settled by delivery of any of the Subject
Shares (each of the foregoing, a “Prohibited Sale”).

 

2.Notwithstanding
the provisions of Section 1 hereof, the undersigned (and any transferee of the undersigned) may transfer any Subject Shares (i)
by will or as a bona fide gift or gifts, provided that prior to such transfer the donee or donees thereof agree in writing to
be bound by the restrictions set forth herein, (ii) to non-profit organizations qualified as charitable organizations under Section
501(c)(3) of the Internal Revenue Code of 1986, as amended, (iii) if such transfer occurs by operation of law, such as rules of
descent and distribution or statutes governing the effects of a merger, (iv) to any member of the undersigned, or (v) to any trust,
partnership, corporation or other entity formed for the direct or indirect benefit of the undersigned or the immediate family
of any transferee of the undersigned, provided that prior to such transfer a duly authorized officer, representative or trustee
of such transferee agrees in writing to be bound by the restrictions set forth herein, and provided further that any such transfer
shall not involve a disposition for value, provided that prior to such transfer the transferee executes an agreement stating that
the transferee is receiving and holding any Subject Shares subject to the provisions of this Lockup Agreement. In addition, the
foregoing shall not prohibit privately negotiated transactions, provided the transferees agree, in writing, to be bound to the
terms of this Lockup Agreement for the balance of the Lockup Period. This Lockup Agreement shall not restrict the sale of the
Subject Shares to the Parent or an Affiliate of the Parent.

 

    	 

    	 

    

 

3.This
Lockup Agreement shall be governed by and construed in accordance with the laws of the State of New York.

 

4.This
Lockup Agreement will become a binding agreement among the undersigned as of the date hereof. This Lockup Agreement may be terminated
by the mutual agreement of the Parent, the Buyer and the undersigned, and if not sooner terminated will terminate upon the expiration
date of the Lockup Period. This Lockup Agreement may be duly executed by facsimile and in any number of counterparts, each of
which shall be deemed an original, and all of which together shall be deemed to constitute one and the same instrument. Signature
pages from separate identical counterparts may be combined with the same effect as if the parties signing such signature page
had signed the same counterpart. This Lockup Agreement may be modified or waived only by a separate writing signed by each of
the parties hereto expressly so modifying or waiving such agreement.

 

[Remainder
of Page Intentionally Left Blank.]

 

 

 

 

 

    	2

    	 

    

 

 

		
	 	 
	 	Adaptive Flight, Inc.
	 	 	 
	 	 	 
	 	 	 
	 	 /s/ Henrik B. Christophersen
	 	By:	Henrik B. Christophersen
	 	Title:	Chief Executive Officer 
	 	Common Stock subject to this Agreement: 6,000,000
	 	 	 
	ACCEPTED
        AND AGREED TO:

	 	 
	 	 	 
	Drone
                    Aviation Holding Corp.

	 	 
	 	 	 
	/s/ Felicia
    Hess	 	 
	By: Felicia Hess	 	 
	Title: Chief Executive Officer and Director	 	 
	 	 	 
	 	 	 
	 	 	 	 
		 	 
		 	 

 

[Signature
Page to Lock-Up Agreement]

 

3

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