Document:

Exhibit 10.8

  

  

  

  
    LOCK-UP AGREEMENT

     

    THIS LOCK-UP AGREEMENT (this “Agreement”) is made and entered into as of October 10, 2019, by and among (i) Lagniappe Ventures LLC, a Delaware limited liability company, in the capacity under the Business Combination Agreement (as defined below) as the Purchaser Representative (including any successor Purchaser Representative appointed in
      accordance with the Business Combination Agreement, the “Purchaser Representative”), (ii) the undersigned (“Holder”) and (iii)
      upon execution and delivery of a Joinder Agreement (as defined below) in substantially the form attached as Exhibit A hereto, Pubco (as defined below).  Any capitalized term used but not defined in this Agreement will have the meaning
      ascribed to such term in the Business Combination Agreement.

     

    WHEREAS, on or about the date hereof, (i) Tiberius Acquisition Corporation, a Delaware corporation (together with its successors, “Purchaser”), (ii) the Purchaser Representative, (iii) International General Insurance Holdings Ltd., a company organized under the laws of the Dubai International Financial Centre (the “Company”), and (iv) Wasef Jabsheh, in the capacity thereunder as the Seller Representative (the “Seller Representative”), entered into that certain
      Business Combination Agreement (as amended, modified or supplemented from time to time in accordance with the terms thereof and Section 4.12 of the Exchange Agreement (as defined below), including pursuant to the joinder agreements referenced below,
      the “Business Combination Agreement”), to which a newly-formed Bermuda exempted company (“Pubco”) and its newly-formed
      wholly-owned subsidiary organized in Delaware (“Merger Sub”) are to become parties thereto pursuant to joinder agreements to be entered into after the date thereof;

     

    WHEREAS, on or after the date of the Business Combination Agreement, certain shareholders of the Company (each a “Seller”), including Holder, constituting all or substantially all of the shareholders of the Company, each entered into a Share Exchange Agreement with the Company, Purchaser and the Seller Representative (pursuant to which Pubco
      will become a party thereafter upon execution of a joinder thereto)  (each, an “Exchange Agreement”);

     

    WHEREAS, holders of 10% or more of the Company Shares as of the date hereof are entering into Lock-Up Agreements on substantially similar terms to the terms
      set forth herein;

     

    WHEREAS, pursuant to the Business Combination Agreement and the Exchange Agreements, subject to the terms and conditions thereof, among other matters, (a)
      Purchaser will merge with and into Merger Sub (the “Merger”), with Purchaser continuing as the surviving entity and a wholly-owned subsidiary of Pubco, and with holders of Purchaser’s
      securities receiving substantially equivalent securities of Pubco, and (b) Pubco will acquire all or substantially all of the issued and outstanding capital shares of the Company from the Sellers in exchange for a mix of cash and common shares of
      Pubco (subject to the withholding of the Escrow Shares in accordance with the terms and conditions of the Business Combination Agreement, the Exchange Agreements and the Escrow Agreement), with the Company becoming a subsidiary of Pubco (the “Share Exchange” and together with the Merger and the other transactions contemplated by the Business Combination Agreement, the “Transactions”);

     

    WHEREAS, upon its formation, Pubco shall execute a Joinder Agreement to this Agreement in the form attached hereto as Exhibit A (a “Joinder Agreement”) whereby it shall become a party to this Agreement and become subject to the rights and obligations of Pubco set forth herein;

     

    WHEREAS, as of the date hereof, Holder is a holder of capital shares of the Company in such amounts as set forth underneath Holder’s name on the signature page
      hereto; and

     

    

    
      
        

    

    
    WHEREAS, pursuant to the Business Combination Agreement, and in view of the valuable consideration to be received by Holder thereunder, including the rights
      under the Registration Rights Agreement, the parties desire to enter into this Agreement, pursuant to which two-thirds (2/3rds) of the Exchange Shares to be received by Holder in the Share Exchange, including all of the Escrow Shares and two-thirds
      (2/3rds) of any Exchange Shares issued by Pubco after the Closing pursuant to Section 2.5 of the Business Combination Agreement (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:

     

    1.            Lock-Up Provisions.

     

    (a)          Holder hereby agrees not to, during the period commencing from the Closing and ending on (A) with respect to fifty percent (50%) of the Restricted Securities (excluding any Escrow Shares), the earlier of (x) six (6) months after the date of the Closing and (y) the date after the Closing on which Pubco
        consummates a liquidation, merger, share exchange or other similar transaction with an unaffiliated third party that results in all of Pubco’s shareholders having the right to exchange their equity holdings in Pubco for cash, securities or other
        property (a “Subsequent Transaction”), and (B) with respect to the remaining fifty percent (50%) of the Restricted Securities
        (including all Escrow Shares), the earliest of (x) one (1) year after the date of the Closing, (y) the date on which the last sale price of Pubco Common Shares equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends,
        reorganizations, recapitalizations and the like) for any twenty (20) trading days within any thirty (30) trading day period commencing at least one-hundred and fifty (150) days after the Closing and (z) the date after the Closing on which Pubco
        consummates a Subsequent Transaction (the “Lock-Up Period”): (i) 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, (ii) 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 (iii) publicly disclose the intention to do any of the foregoing, whether any such transaction described in clauses (i), (ii) or (iii) above
      is to be settled by delivery of Restricted Securities or other securities, in cash or otherwise (any of the foregoing described in clauses (i), (ii) or (iii), a “Prohibited Transfer”).  The
      foregoing sentence shall not apply to the transfer of any or all of the Restricted Securities owned by Holder (other than the Escrow Shares until such Escrow Shares are disbursed to Holder from the Escrow Account in accordance with the terms and
      conditions of the Business Combination Agreement, Holder’s Exchange Agreement and the Escrow Agreement) (I) by bona fide gift, including to charitable or educational institutions, (II) will or other testamentary document or intestate succession upon
      the death of Holder, (III) to any Permitted Transferee, (IV) pursuant to a court order or settlement agreement related to the distribution of assets in connection with the dissolution of marriage or civil union or (V) solely with respect to a
      transfer of all of the Restricted Securities owned by Holder (other than the Escrow Shares as described above) at such time in one transaction or a series of related transactions, pursuant to private block transfers to any person or entity or group
      of persons or entities; provided, however, that in any of cases (I), (II), (III), (IV) or (V) it shall be a condition to such transfer that the transferee executes and delivers to Pubco and the Purchaser 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: (A) the members of Holder’s immediate family (for purposes of this Agreement, “immediate family” shall mean with respect to any
      natural person, any of the following: such person’s spouse, the siblings of such person and his or her spouse, and the direct descendants and ascendants (including adopted and step children and parents) of such person and his or her spouses and
      siblings), (B) any trust or other entity for the direct or indirect benefit of or for which any  trustee or beneficiary is Holder or one or more members of the immediate family of Holder, (C) any entity or trust for bona fide estate or tax planning
      purposes, (D) if Holder is a trust, to the trustor or beneficiary of such trust or to the estate of a beneficiary of such trust, (E) if Holder is an entity, 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 (F) to any affiliate of Holder.  Holder further agrees to execute such agreements as may be reasonably requested by Pubco or the Purchaser Representative that are consistent with
      the foregoing or that are necessary to give further effect thereto.  For the avoidance of doubt, one-third (1/3rd) of the Exchange Shares received by Holder (excluding
      any Escrow Shares) will not be Restricted Securities and will not be subject to any of the restrictions set forth in this Agreement.  If any Exchange Shares are issued by Pubco after the Closing pursuant to Section 2.5 of the Business Combination
      Agreement, 1/3rd of such additional Exchange Shares will not be Restricted Securities, and the remainder of such additional Exchange Shares will be additional Restricted
      Securities hereunder, with fifty percent (50%) of such additional Restricted Securities being subject to the Lock-Up Period described in clause (A) of the first sentence of this Section 1(a) and the remaining fifty percent (50%) of such
      additional Restricted Securities being subject to the Lock-Up Period described in clause (B) of the first sentence of this Section 1(a).

     

    

    
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    (b)           Holder further acknowledges and agrees that it shall not be permitted to engage in any Prohibited Transfer with respect to any Escrow Shares until both the applicable Lock-Up Period has
      expired and such Escrow Shares have been disbursed to Holder from the Escrow Account in accordance with the terms and conditions of the Business Combination Agreement, Holder’s Exchange Agreement and the Escrow Agreement.

     

    (c)           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 Pubco 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, Pubco 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.

     

    (d)          During the applicable Lock-Up Period (and with respect to any Escrow Shares, if longer, during the period when such Escrow Shares are held in the Escrow Account), 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 OCTOBER 10, 2019, BY AND AMONG THE ISSUER OF SUCH SECURITIES (THE
      “ISSUER”), A CERTAIN REPRESENTATIVE OF THE ISSUER NAMED THEREIN 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.”

     

    (e)          For the avoidance of any doubt, Holder shall retain all of its rights as a shareholder of Pubco with respect to the
        Restricted Securities during the Lock-Up Period, including the right to vote any Restricted Securities, but subject to the obligations under the Business Combination Agreement, Holder’s Exchange Agreement and the Escrow Agreement.

     

    2.           Miscellaneous.

     

    (a)          Termination of Business Combination Agreement.  This Agreement shall be binding upon Holder upon Holder’s execution and delivery of this Agreement, but this Agreement shall only
      become effective upon the Closing.  In the event that the Business Combination Agreement is terminated in accordance with its terms prior to the Closing, this Agreement shall automatically terminate and become null and void, and the parties shall
      have no obligations hereunder.

     

    

    
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    (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.  Pubco 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 (but from and after the Closing, the consent of the Purchaser Representative shall be required).  If
      the Purchaser Representative is replaced in accordance with the terms of the Business Combination Agreement, the replacement Purchaser Representative shall automatically become a party to this Agreement as if it were the original Purchaser
      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 County, 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”) 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 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 Purchaser Representative , to:

             

            

            Lagniappe Ventures LLC

            3601 N. Interstate 10 Service Rd. W.

            Metairie, LA 70002, U.S.A.

            Attn:  Andrew J. Poole

            Telephone No.:  (504) 754-6671

            Email:  APoole@tiberiusco.com

          	
            with a copy (that shall not constitute notice), to:

             

            

            Ellenoff Grossman & Schole LLP

            1345 Avenue of the Americas, 11th Floor

            New York, New York  10105, USA

            Attn:      Stuart Neuhauser, Esq.

            Matthew A. Gray, Esq.

            Facsimile No.:  (212) 370-7889

            Telephone No.:  (212) 370-1300

            Email:   sneuhauser@egsllp.com

            mgray@egsllp.com

             

            

          
	
             

              

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

             

            

            If to Pubco, to: the address set forth in the Joinder 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 Pubco, the Purchaser 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.

     

    

    
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    (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 Pubco (and the Purchaser Representative on behalf of Pubco) 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 Pubco and the Purchaser 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
      Business Combination Agreement, Holder’s Exchange Agreement or any other Ancillary Document.  Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies of Pubco and the Purchaser Representative or any of the
      obligations of Holder under any other agreement between Holder and Pubco or the Purchaser Representative or any certificate or instrument executed by Holder in favor of Pubco or the Purchaser Representative, and nothing in any other agreement,
      certificate or instrument shall limit any of the rights or remedies of Pubco or the Purchaser 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.

     

    (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 Purchaser Representative:

          
	 	 
	 	
            LAGNIAPPE VENTURES LLC,

          
	 	
            solely in its capacity under the Business

             Combination Agreement as the Purchaser Representative

          
	 	 
	 	
            By:

          	 /s/ Michael Gray	 
	 	
            

            

          	Name:  Michael Gray
	 	
            

            

          	Title:  Managing Member

     

    

    {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:  Oman International Development & Investment Co. SAOG

     

    	
            By:

            

          	/s/ Shahid Rasool	 	
            By:

            

          	/s/ Hamid Al Harthi	 
	 	
            Name:  Shahid Rasool

          	 	 	
            Name: Hamid Al Harthi

          	 
	 	Title:  Deputy CEO	 	 	
            Title:  Chief Human Resources Officer

          	 

    

    

    
      	Number of Company Ordinary Shares:

              	
              28,675,104

              

            	 

    

    

      

    	
            Address for Notice:

          	 
	 	 
	
            Address:

          	 	 

    	 	 
	 	 
	 	 
	 	 	 
	
            Facsimile No.:

          	 	 
	 	 

    	
            Telephone No.:

          	 	 
	 	 

    	
            Email:

            

          	 	 

    

    

    
      {Signature Page to Lock-Up Agreement}

       

      

    

    
      
        

    

    EXHIBIT A

    FORM OF JOINDER AGREEMENT

    TO LOCK-UP AGREEMENT

    

    

    This JOINDER AGREEMENT, dated as of ______________, 2019 (this “Joinder”), is executed and delivered by [Pubco], a Bermuda
      exempted company (“Pubco”), pursuant to the Lockup  Agreement entered into on or about October 10, 2019 (as amended, supplemented or otherwise modified from time to time, the “Lockup Agreement”) by and among (i) Lagniappe Ventures LLC, a Delaware limited liability company, in
      the capacity under the Business Combination Agreement as the Purchaser Representative (the “Purchaser Representative”), (ii) _________________, as the Holder party thereunder, and (iii)
      Pubco upon the execution and delivery of this Joinder.  Capitalized terms used but not otherwise defined herein have the respective meanings set forth in the Lockup Agreement.

     

    1.          Joinder to the Lockup Agreement.  Upon the execution of this Joinder by Pubco and delivery hereof to the Purchaser Representative and the Holder, Pubco shall become party to the
      Lockup Agreement, and will be fully bound by, and subject to, all of the terms and conditions of the Lockup Agreement as the “Pubco” party thereto as though an original party thereto for all purposes thereof and with all the rights, privileges,
      obligations and responsibilities of Pubco as set forth therein as of the date of this Joinder Agreement set forth above.  Pubco hereby acknowledges that it has received and reviewed a complete copy of the Lockup Agreement.

     

    2.           Incorporation by Reference. All terms and conditions of the Lockup Agreement are hereby incorporated by reference in this Joinder as if set forth herein in full.

     

    3.           Notices. All notices under the Lockup Agreement to Pubco shall be directed to:

     

    	
             

            

            If to Pubco, to:

             

            

            [Pubco]

            [Address]

            Attn: [      ]

            Facsimile No.:  [     ]

            Telephone No.:  [     ]

            Email:  [   ]

          	
             

            

            with a copy (which is not notice) to:

             

            

            Freshfields Bruckhaus Deringer LLP

            Level 6, Al Sila Tower, Abu Dhabi Global

             Market Square, Al Maryah Island

            PO Box 129817

            Attn: Michael Hilton

            Facsimile No.: +971 2 6521 777

            Telephone No.: +971 2 6521 700

            Email: michael.hilton@freshfields.com

             

            

            and

            Freshfields Bruckhaus Deringer US LLP

            601 Lexington Avenue

            New York, NY 10022

            Attn:  Omar Pringle

            Facsimile No.:  (212) 277-4001

            Telephone No.:  (212) 277-4000

            Email:  omar.pringle@freshfields.com

             

            

            and

             

            

            the Purchaser Representative (and its copies for

             notices under the Lock-Up Agreement)

             

            

          

    

    

    
      
        

    

    IN WITNESS WHEREOF, Pubco has duly executed and delivered this Joinder as of the date first above written.

     

    	 	
            Pubco:

          
	 	 
	 	
            [PUBCO]

          
	 	 
	 	
            By:

          	 	 
	 	 	
            Name:

          	 
	 	 	
            Title:

          	 

    
      
         

        

        {Signature Page to Lock-Up Agreement}Exhibit 10.9

    

     

    

    
      
        EXECUTION COPY

      

       

      

      Lagniappe Ventures LLC

      3601 N. Interstate 10 Service Rd. W.

      Metairie, LA 70002, U.S.A.

       

      October 10, 2019

       

       

      Tiberius Acquisition Corporation

      3601 N. Interstate 10 Service Rd. W.

      Metairie, LA 70002, U.S.A.

       

      Attn:  Andrew J. Poole, Chief Investment Officer

       

      
        
          	

                	Re:	
                  Sponsor Share Letter

                

        

      

       

      Dear Andrew:

       

      Reference is hereby made to that certain Business Combination Agreement, dated as of October 10, 2019 (as it may be amended, the “Business Combination Agreement”) by and among Tiberius Acquisition Corporation, a Delaware corporation (including any successor thereto, “Purchaser”), Lagniappe Ventures
        LLC, a Delaware limited liability, solely in its capacity thereunder as the Purchaser Representative (the “Purchaser Representative”), International General Insurance Holdings Ltd., a
        company organized under the laws of the Dubai International Financial Centre (the “Company”), Wasef Jabsheh in his capacity thereunder as the Seller Representative (the “Seller Representative”), and upon the execution and delivery of joinders thereto after the date thereof, a to-be-formed Bermuda exempted company (“Pubco”) and its to-be-formed wholly-owned Delaware corporation (“Merger Sub”).  Any capitalized term used but not defined herein will have the meanings ascribed thereto
        in the Business Combination Agreement.

       

      In order to induce the Company to enter into the Business Combination Agreement and certain Sellers thereunder to enter into an Exchange Agreement with respect thereto,
        Lagniappe Ventures LLC, a Delaware limited liability company (“Sponsor”), has agreed to enter into this letter agreement (this “Agreement”)

        relating to (i) the 4,252,500 shares of common stock, par value $0.0001 per share (“Common Stock”), of Purchaser (including the Pubco Common Shares into which such shares are converted
        pursuant to the Merger in accordance with the Business Combination Agreement, “Founder Shares”) initially purchased by Sponsor in a private placement prior to Purchaser’s initial public
        offering, which shares are currently held by Sponsor, and (ii) the 4,500,000 warrants to purchase Common Stock (including the Pubco Private Warrants into which such warrants are converted in connection with the Merger in accordance with the
        Business Combination Agreement, the “Sponsor Warrants”), initially purchased by Sponsor in a private placement concurrently with Purchaser’s initial public offering, which warrants are
        currently held by Sponsor.

       

      For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Sponsor and each of the undersigned parties hereby agrees as follows:

       

      
        
          
            
              	
                      1.

                    	
                      The Sponsor hereby agrees that, upon and subject to the Closing, the Sponsor agrees to transfer and assign, subject to and in accordance with the terms and conditions of this Agreement, to (a) Jabsheh
                        all of its right, title and interest in and to Four Million (4,000,000) Sponsor Warrants (the “Jabsheh Warrants”) and One Million (1,000,000) Founder Shares (the “Jabsheh Shares”), and (b) to Argo Five Hundred Thousand (500,000) Sponsor Warrants (the “Argo Warrants” and,
                        together with the Jabsheh Warrants, the “Transferred Warrants”) and Thirty-Nine Thousand Two Hundred (39,200) Founder Shares, in each case free and clear of all liens,
                        encumbrances and other security interests (except (i) as set forth in the Warrant Agreement, the Insider Letter and this Agreement, (ii) those imposed by Purchaser’s or Pubco’s Organizational Documents, as applicable, or applicable
                        securities laws, or (iii) those incurred by Jabsheh or Argo (the “Argo Shares” and, together with the Jabsheh Shares, the “Transferred Shares”)).

                    

            

          

        

      

       

      
        

        
          

        

      

      
      
        
          	2.	
                  The Transferred Warrants will be transferred by Sponsor to Jabsheh and Argo as “Permitted Transferees” (as defined in the Warrant Agreement, dated as of March 15, 2018 (as it may be amended, the “Warrant Agreement”), by and between Purchaser and Continental Stock Transfer & Trust Company, as warrant agent) of Sponsor under Section 2.6 of the Warrant Agreement (and Purchaser hereby consents to
                    such transfer), and accordingly each of Jabsheh and Argo hereby agree to become bound by the transfer restrictions in the Warrant Agreement with respect to their Transferred Warrants that apply to the Sponsor thereunder.

                

        

      

       

      
        
          	3.	
                  The Transferred Shares will be transferred by Sponsor to Jabsheh and Argo as “permitted transferees” (as defined in the Letter Agreement, dated as of March 15, 2018 (as it may, subject to the terms hereof be amended, the “Insider Letter”), by and among Purchaser, Sponsor and certain other insiders named therein) of Sponsor under Section 7(c) of the Insider Letter, and accordingly each of Jabsheh and
                    Argo hereby agree to become bound by the transfer restrictions in the Insider Letter with respect to their Transferred Shares that apply to the Sponsor thereunder, in addition to the other restrictions set forth in this Agreement.

                

        

      

       

      
        
          	4.	
                  Each of Jabsheh and Argo hereby agree that they will not sell, transfer or otherwise dispose of, or hypothecate or otherwise grant any interest in or to their Transferred Shares, unless, until and to the extent that a Release Event
                    (as defined below) has occurred with respect to such Transferred Shares.  Sponsor hereby agrees that, upon and subject to the Closing, it will not sell, transfer or otherwise dispose of, or hypothecate or otherwise grant any interest in
                    or to, 1,973,300 of the Founder Shares retained by Sponsor after the transfer of the Transferred Shares in accordance with the terms of this Agreement (the “Sponsor Earnout Shares”
                    and, together with the Transferred Shares, the “Earnout Shares”), unless, until and to the extent that a Release Event has occurred with respect to such Sponsor Earnout
                    Shares.  In the event that a Release Event has not occurred on or prior to the date which is eight (8) years following the Closing Date (the “Termination Date” and, the period
                    from the Closing Date until and including the Termination Date, the “Earnout Period”) with respect to all of the Earnout Shares, Sponsor, Jabsheh and Argo (each, an “Earnout Holder”) hereby agree that any of their respective Earnout Shares that have not been subject to a Release Event will, subject to applicable Laws, be acquired by Pubco for
                    cancellation.  In order to effectuate such acquisition for cancellation in the event that a Release Event has not theretofore occurred with respect to all of such party’s Earnout Shares, upon the Termination Date, each Earnout Holder
                    shall deliver its Earnout Shares that have not been subject to a Release Event to Pubco in certificated or book entry form (at the election of such party) for cancellation by Pubco.  The share certificates representing the Earnout
                    Shares shall contain a legend relating to transfer restrictions imposed by this Agreement and the risk of acquisition for cancellation associated with the Earnout Shares.  Such legend shall be removed upon the request of an Earnout
                    Holder following a Release Event with respect to its applicable Earnout Shares.

                

        

      

       

      
        
          	5.	
                  Until and unless the Earnout Shares are acquired for cancellation, each Earnout Holder shall have full ownership rights to its Earnout Shares, including the right to vote such shares and to receive dividends and distributions
                    thereon.

                

        

      

       

      
        
          	6.	
                  The Earnout Shares shall vest and no longer be subject to acquisition for cancellation as follows (each, as applicable to the relevant Earnout Shares, a “Release Event”):

                

        

      

       

      
        

        2

        
          

        

      

      
        
          	

                	(a)	
                  600,000 Jabsheh Shares and 800,000 Sponsor Earnout Shares shall vest and no longer be subject to acquisition for cancellation or the transfer restrictions in this Agreement if the closing price of the Pubco Common Shares on the
                    principal exchange on which such securities are then listed or quoted shall have been at or above $11.50 (the “First Price Threshold”) for twenty (20) trading days (which need
                    not be consecutive) over a thirty (30) trading day period at any time during the Earnout Period;

                

        

      

       

      
        
          	

                	(b)	
                  400,000 Jabsheh Shares, all 39,200 Argo Shares and 160,800 Sponsor Earnout Shares shall vest and no longer be subject to acquisition for cancellation or the transfer restrictions in this Agreement if the closing price of the Pubco
                    Common Shares on the principal exchange on which such securities are then listed or quoted shall have been at or above $12.75 (the “Second Price Threshold”) for twenty (20)
                    trading days (which need not be consecutive) over a thirty (30) trading day period at any time during the Earnout Period;

                

        

      

       

      
        
          	

                	(c)	
                  550,000 Sponsor Earnout Shares shall vest and no longer be subject to acquisition for cancellation or the transfer restrictions in this Agreement if the closing price of the Pubco Common Shares on the principal exchange on which such
                    securities are then listed or quoted shall have been at or above $14.00 (the “Third Price Threshold”) for twenty (20) trading days (which need not be consecutive) over a thirty
                    (30) trading day period at any time during the Earnout Period;

                

        

      

       

      
        
          	

                	(d)	
                  462,500 Sponsor Earnout Shares shall vest and no longer be subject to acquisition for cancellation or the transfer restrictions in this Agreement if the closing price of the Pubco Common Shares on the principal exchange on which such
                    securities are then listed or quoted shall have been at or above $15.25 (the “Fourth Price Threshold” and together with the First Price Threshold, the Second Price Threshold
                    and the Third Price Threshold, the “Price Thresholds”) for twenty (20) trading days (which need not be consecutive) over a thirty (30) trading day period at any time during the
                    Earnout Period; and

                

        

      

       

      
        
          	

                	(e)	
                  all of the Earnout Shares shall vest and no longer be subject to acquisition for cancellation or the transfer restrictions in this Agreement upon the first of any of the following to occur:

                

        

      

       

      
        
          	

                	(i)	
                  if Pubco shall engage in a “going private” transaction pursuant to Rule 13e-3 under the Exchange Act of 1934 or otherwise cease to be subject to reporting obligations under Sections 13 or 15(d) of the Exchange Act;

                

        

      

       

      
        
          	

                	(ii)	
                  if Pubco Common Shares shall cease to be listed on a national securities exchange;

                

        

      

       

      
        
          	

                	(iii)	
                  if Pubco is amalgamated, merged, consolidated or reorganized with or into another Person (an “Acquiror”) and as a result of such amalgamation, merger, consolidation or reorganization, less than
                    50.1% (whether by voting or economic rights) of the outstanding equity securities or other capital interests of the Acquiror or surviving or resulting entity is owned in the aggregate by the shareholders of Pubco, directly or
                    indirectly, immediately prior to such amalgamation, merger, consolidation or reorganization, excluding from such computation the interests of the Acquiror or any Affiliate of the Acquiror (the “Pre-Transaction Pubco Equityholders”);

                

        

      

       

      
        
          	

                	(iv)	
                  Pubco and/or its subsidiaries sell, assign, transfer or otherwise dispose of (including by bulk reinsurance outside of the ordinary course of business consistent with past practice), in one or a series of related transactions, all or
                    substantially all of the assets of Pubco and its Subsidiaries, taken as a whole, to an Acquiror, less than 50.1% (whether by voting or economic rights) of the outstanding equity securities or other capital interests of which,
                    immediately following such sale, assignment or transfer, is owned in the aggregate by the Pre-Transaction Pubco Equityholders;

                

        

      

       

      
        

        3

        
          

        

      

      
        
          	

                	(v)	
                  a Schedule 13D or Schedule 13G report (or any successor schedules form or report), each as promulgated pursuant to the Exchange Act, is filed with the SEC disclosing that any person or group (as the terms “person” and “group” are
                    used in Section 13(d) or Section 14(d) of the Exchange Act and the rules and regulations promulgated thereunder) has become the beneficial owner (as the term “beneficial owner” is defined in Rule 13d-3 or any successor rule or
                    regulation promulgated under the Exchange Act) of a percentage of shares of the outstanding Pubco Common Shares as shall be greater than the percentage of such shares that, at the date of such filing, is held by any other person or
                    group that held more than 50% of the voting or economic power of Pubco immediately after the Closing; or

                

        

      

       

      
        
          	

                	(vi)	
                  during any period of two consecutive years, the Continuing Directors cease to constitute at least a majority of the Board of Directors of Pubco (for purposes hereof, the term “Continuing

                      Directors” means the directors still in office who either were directors at the beginning of the two-year period or who were directors elected to the Board of Directors and whose election or nomination was approved by the
                    Nominating Committee of the Board of Directors of Pubco or, if there is no Nominating Committee, whose election or nomination was approved by a vote of at least two-thirds of the directors then still in office who were directors at the
                    beginning of the two-year period or whose election to the Board of Directors was previously so approved).  For the avoidance of doubt, a Jabsheh Director (as defined in the Amended Pubco Charter) will always be a Continuing Director.

                

        

      

       

      
        
          	

                	(f)	
                  Each Price Threshold above and the applicable number of Earnout Shares released for such Release Event shall be subject to equitable adjustment for share splits, share dividends, reorganizations, combinations, recapitalizations and
                    similar transactions affecting the Pubco Common Shares after the Closing.  Additionally, each Price Threshold shall be reduced by the amount of the aggregate cash or the fair market value of any securities or other assets paid or
                    payable by Pubco to the holders of Pubco Common Shares, on a per share basis, as an extraordinary dividend or distribution following the Closing; provided that the declaration and payment of any such extraordinary dividend or
                    distribution shall be subject to all applicable Laws.  An “extraordinary dividend or distribution” means any dividend or distribution other than a regularly-scheduled dividend or distribution.

                

        

      

       

      
        
          	7.	
                  Notwithstanding anything to the contrary herein, at or prior to the Closing, Sponsor may transfer any Sponsor Earnout Shares to any third-party investor who provides equity or debt financing for the transactions contemplated by the
                    Business Combination Agreement without the consent of any party hereto, and any Sponsor Earnout Shares so transferred shall reduce the number of Sponsor Earnout Shares hereunder (with such reduction in Sponsor Earnout Shares allocated
                    pro rata among each Release Event in clauses (a) through (d) of Section 6).  Unless otherwise agreed in writing by Sponsor and the investor receiving such shares, any such transferred Sponsor Earnout Shares shall not be subject
                    to the terms and conditions of this Agreement (but shall continue to be subject to the provisions of the Insider Letter).

                

        

      

       

      
        
          	8.	
                  Purchaser and Sponsor hereby each agree, that without the prior written consent of the Company, they will not, prior to the Closing, seek or agree to a waiver, amendment or termination of Sections 1 or 7 of the Insider Letter (or
                    related definitions).

                

        

      

       

      
        

        4

        
          

        

      

      
        
          	9.	
                  Subject to Section 7 above, no party hereto may assign either this Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other parties; provided, that in the event that
                    Sponsor liquidates and distributes to its members all securities of Pubco that it owns in accordance with its organizational documents, Sponsor may, without obtaining the consent of any other party hereto, transfer the Sponsor Earnout
                    Shares and its rights and obligations under this Agreement to its members so long as such members agree in writing to be bound by the terms of this Agreement that apply to Sponsor hereunder.  Any purported assignment in violation of
                    this Section 9 shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.  This Agreement shall be binding on the undersigned and their respective successors and
                    permitted assigns.

                

        

      

       

      
        
          	10.	
                  This Agreement (including the Business Combination Agreement to the extent incorporated herein) constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior
                    understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof; provided, that for the avoidance of doubt, nothing herein shall affect
                    the terms and conditions of the Insider Letter or the Warrant Agreement.

                

        

      

       

      
        
          	11.	
                  This Agreement may not be changed, amended or modified as to any particular provision, except by a written instrument executed by all parties hereto.  No provision of this Agreement may be waived except in a writing signed by the
                    party against whom enforcement of such waiver is sought.  No failure or delay by a party in exercising any right hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further
                    exercise of any other right hereunder.

                

        

      

       

      
        
          	12.	
                  Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent in the same manner as provided in Section 12.1 of the Business Combination
                    Agreement.  Unless otherwise specified in writing by such party, notices to the Sponsor shall be sent to the address of the Purchaser Representative set forth in the Business Combination Agreement and notices to Jabsheh shall be sent to
                    the address of the Seller Representative set forth in in the Business Combination Agreement.  Notices to Argo shall be sent to the address set forth underneath Argo’s name on the signature page hereto (or such other address as shall be
                    specified in a notice given in accordance with this Section 12 and Section 12.1 of the Business Combination Agreement).

                

        

      

       

      
        
          	13.	
                  This Agreement shall be construed, interpreted and enforced in a manner consistent with the provisions of the Business Combination Agreement. The provisions set forth in Sections 12.3 through 12.8, 12.12 and 12.13, of the Business
                    Combination Agreement, as in effect as of the date hereof, are hereby incorporated by reference into, and shall be deemed to apply to, this Agreement as if all references to the “Agreement” in such sections were instead references to
                    this Agreement, and the references therein to the “Parties” were instead to the parties to this Agreement.

                

        

      

       

      
        
          	14.	
                  This Agreement shall terminate at such time, if any, as the Business Combination Agreement is terminated in accordance with its terms prior to the Closing, and upon such termination this Agreement shall be null and void and of no
                    effect whatsoever, and the parties hereto shall have no obligations under this Agreement.

                

        

      

       

      {Remainder of Page Left Blank; Signature Page Follows}

      

      

      
        

        5

        
          

        

      

      Please indicate your agreement to the foregoing by signing in the space provided below.

       

      	 	
              LAGNIAPPE VENTURES LLC

            
	 	 
	 	
              By:

                

            	/s/ Michael Gray	 
	 	
              Name:  Michael Gray

            
	 	
              Title:  Managing Member

            

       

      

      Accepted and agreed, effective as of the date first set forth above:

       

      TIBERIUS ACQUISITION CORPORATION

       

      	
              By:

            	
              /s/ Andrew Poole

            	 	 

      	Name:

            	
              Andrew Poole

            	 
	Title: 

            	
              Chief Investment Officer

            	 

       

      INTERNATIONAL GENERAL INSURANCE HOLDINGS LTD.

       

      	
              By:

            	
              /s/ Wasef Jabsheh

            	 	 

      	Name:	
              Wasef Jabsheh

            	 
	Title:	
              Chief Executive Officer

            	 

       

      
        	
                /s/ Wasef Jabsheh

              	 	 
	
                Wasef Jabsheh

              	 

      

       

      

      ARGO RE LTD.

       

      	By:	
              /s/ Matthew Wilken

            	 	 

      	Name:	
              Matthew Wilken

            	 
	Title: 

            	
              President

            	 

      
         

        

        Address for Notice:

         

        

      

      	
              Address:

            	 	 
	 	 
	 	 

      	 	 	 
	
              Facsimile No.:

            	 	 

      	 	 	 
	
              Telephone No.:

            	 	 

      	 	 	 
	
              Email:

            	 	 

      

      

      
        {Signature Page to Sponsor Share Letter}

         

        

      

      
        

        
          

        

      

      Exhibit A

       

      Form of Joinder Agreement

      to Sponsor Share Letter

       

      This JOINDER AGREEMENT, dated as of ___________, 2019 (this “Joinder”), is executed and delivered by [Pubco], a Bermuda
        exempted company (“Pubco”), pursuant to the letter agreement entered into on or about October 10, 2019 (as amended, supplemented or otherwise modified from time to time, the “Sponsor Share Letter”), by and among Lagniappe Ventures LLC, a Delaware limited liability company (“Sponsor”), Tiberius Acquisition Corporation, a Delaware corporation (“Purchaser”), International General Insurance Holdings Ltd., a
        company organized under the laws of the Dubai International Financial Centre (the “Company”), Argo Re Ltd., a Bermuda exempted company (“Argo”), and Wasef Jabsheh (the “Jabsheh”).  Capitalized terms used but not otherwise defined herein have the respective meanings set forth in the Sponsor Share Letter.

       

      1.          Joinder to the Sponsor Share Letter.  Upon the execution of this Joinder by Pubco and delivery hereof to Sponsor, Purchaser, the Company, Argo and Jabsheh, Pubco shall become
        party to the Sponsor Share Letter, and will be fully bound by, and subject to, all of the terms and conditions of the Sponsor Share Letter as the “Pubco” party thereto as though an original party thereto for all purposes thereof and with all the
        rights, privileges, obligations and responsibilities of Pubco as set forth therein as of the date of this Joinder Agreement set forth above.  Pubco hereby acknowledges that it has received and reviewed a complete copy of the Sponsor Share Letter.

       

      2.          Incorporation by Reference.  All terms and conditions of the Sponsor Share Letter are hereby incorporated by reference in this Joinder as if set forth herein in full.

       

      3.          Notices.  All notices under the Sponsor Share Letter to Pubco shall be directed to:

       

      	
               

              

              If to Pubco, to:

               

                

              [Pubco]

              [Address]

              Attn: [      ]

              Facsimile No.:  [     ]

              Telephone No.:  [     ]

              Email:  [   ]

            	
               

              

              with a copy (which is not notice) to:

               

              

              Freshfields Bruckhaus Deringer LLP

              Level 6, Al Sila Tower, Abu Dhabi Global

               Market Square, Al Maryah Island

              PO Box 129817

              Attn: Michael Hilton

              Facsimile No.: +971 2 6521 777

              Telephone No.: +971 2 6521 700

              Email: michael.hilton@freshfields.com

               

              

              and

               

              

              Freshfields Bruckhaus Deringer US LLP

              601 Lexington Avenue

              New York, NY 10022

              Attn:  Omar Pringle

              Facsimile No.:  (212) 277-4001

              Telephone No.:  (212) 277-4000

              Email:  omar.pringle@freshfields.com

               

              

            

       

      {Remainder of Page Intentionally Left Blank; Signature Page Follows}

       

      

      
        

        
          

        

      

      IN WITNESS WHEREOF, Pubco has duly executed and delivered this Joinder to Sponsor Share Letter as of the date first above written.

       

      	 	
              Pubco:

            	 
	 	 	 
	 	
              [PUBCO]

            	 
	 	 	 
	 	
              By:

            	 	 
	 	
              Name:

            
	 	
              Title:

            

       

      

      
         

        {Signature Page to Sponsor Share Letter Joinder}

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