Document:

Exhibit 10.2

 

 

FORM OF

LOCK-UP AGREEMENT

 

______________, 2016

Alliqua BioMedical, Inc.

Attention: Chief Financial Officer

1010 Stony Hill Road, Suite 200

Yardley, PA 19067

 

Ladies and Gentlemen:

 

Reference is made
to that certain Contribution Agreement and Plan of Merger, dated as of October 5, 2016 (the “Contribution and Merger
Agreement”), by and among Alliqua BioMedical, Inc., a Delaware corporation (“Alliqua”), Alliqua Holdings,
Inc., a Delaware corporation and a wholly-owned subsidiary of Alliqua (“Parent”), Chesapeake Merger Corp.,
a Delaware corporation and a wholly-owned subsidiary of Parent (“Merger Sub” and together with Alliqua and
Parent, the “Alliqua Entities”), and Soluble Systems, LLC, a Virginia limited liability company (the “Company”),
pursuant to which the Company shall receive shares of Parent Common Stock and Warrants as consideration for the Contributed Assets
at the Closing. For the purposes hereof, any terms used but not otherwise defined herein shall have the respective meanings ascribed
to them in the Contribution and Merger Agreement. In consideration of the Company and the Alliqua Entities entering into the Transactions
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby
agrees as follows:

 

1.       The
undersigned hereby covenants and agrees that during the period commencing on the Closing Date and ending on the twelve (12) month
anniversary of the Closing Date (the “Lockup Period”), the undersigned will not, without the prior written
consent of Parent or Alliqua, (1) offer, sell, contract to sell, grant any option to purchase, hypothecate, pledge, or otherwise
dispose of, directly or indirectly, any shares of Parent Common Stock or any securities convertible into, exercisable for, or
exchangeable for shares of Parent Common Stock that the undersigned receives pursuant to or in connection with the Contribution
and Merger Agreement or (2) enter into any swap or other arrangement that transfers title to another, in whole or in part, any
of the economic consequences of ownership of shares of Parent Common Stock whether any such transaction described in clause (i)
or (ii) above is to be settled by delivery of shares of Parent Common Stock or such other securities, in cash or otherwise.

 

2.       The
undersigned further agrees and consents (i) that during the Lock-up Period that such shares of Parent Common Stock received pursuant
to or in connection with the Contribution and Merger Agreement shall be held in registered book-entry form at Parent’s transfer
agent and registrar, (ii) to the entry of stop transfer instructions with the Parent’s transfer agent and registrar relating
to the transfer of the undersigned’s shares of Parent Common Stock and (iii) to the imprinting of a lock-up legend on the
Warrants and any shares of Parent Common Stock issuable thereunder.

 

     

     

    

 

3.       This
Lock-Up Agreement shall be governed by and construed in accordance with the laws of the State
of Delaware.

 

4.       This
Lock-Up Agreement will become a binding agreement among the undersigned as of the Closing Date. In the event that no closing occurs
under the Contribution and Merger Agreement, this Lock-Up Agreement shall be null and void. This Lock-Up Agreement (and the agreements
reflected herein) may be terminated by the mutual agreement of the Alliqua Entities and the undersigned, and if not sooner terminated,
will terminate upon the expiration date of the Lockup Period. This Lock-Up Agreement may be duly executed by facsimile electronic
delivery (PDF) 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 Lock-Up 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	 

     

    

 

[Signature
Page to Lock-Up Agreement]

 

	 	Very truly yours,
	 	 	 
	 	SOLUBLE SYSTEMS, LLC
	 	 	 
	 	By: 	 
	 	Name:	 
	 	Title:	 

 

Address: 11830 Canon Boulevard Suite
A

Newport News, VA 23606

 

Number of shares of Parent Common Stock
owned: [__________]

Number of shares
of Parent Common Stock held under Warrants: 4,000,000

 

Accepted and Agreed to:

 

	ALLIQUA HOLDINGS, INC.	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 
	 	 	 
	ALLIQUA BIOMEDICAL, INC.	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

    	 	3rely-ex103_379.htm

Exhibit 10.3

AMENDMENT NO. 1 TO 

PLEDGE AND SECURITY AGREEMENT

AMENDMENT NO. 1 TO PLEDGE AND SECURITY AGREEMENT (this “Amendment”), dated as of March 2, 2016 (the “Effective Date”), among Real Alloy Intermediate Holding, LLC, a Delaware limited liability company (“Holdings”), Real Alloy Holding, Inc., a Delaware corporation (the “Issuer”), each of the subsidiaries of Holdings or the Issuer listed on the signature pages hereto (the “Grantors”) and Wilmington Trust, National Association, as notes collateral trustee for the Secured Parties (the “Notes Collateral Trustee”).

W I T N E S S E T H :

WHEREAS, SGH Escrow Corporation, a Delaware corporation (the “Escrow Issuer”) and Intermediate Holdings have heretofore executed and delivered to the Trustee an Indenture, dated as of January 8, 2015 (the “Original Indenture”), providing for the issuance of 10.000% Senior Secured Notes Due 2019 (the “Notes”); 

WHEREAS, pursuant to that First Supplemental Indenture, dated February 27, 2015, among the Issuer, Intermediate Holdings, the Additional Guarantors, the Trustee and the Notes Collateral Trustee, which amended the Original Indenture (such amended Original Indenture, the “Indenture”), the Escrow Issuer merged with and into the Issuer, with the Issuer being the surviving entity of such merger and the Escrow Issuer ceasing to exist;

WHEREAS, the Issuer, the Grantors from time to time party thereto, and the Notes Collateral Trustee are party to that certain Pledge and Security Agreement, dated February 27, 2015 (the “Pledge and Security Agreement”); 

WHEREAS, the Issuer, the Guarantors from time to time party thereto, the Trustee and the Notes Collateral Trustee are party to that certain Collateral Trust Agreement, dated February 27, 2015 (the “Collateral Trust Agreement”); 

WHEREAS, the Issuer and the Guarantors desire to amend the Pledge and Security Agreement to provide for the exclusion of certain assets from the definition of  the Collateral securing the Obligations of the Issuer and the Guarantors; and

WHEREAS, the parties have agreed to amend the Pledge and Security Agreement in accordance with the terms and conditions set forth in the Indenture and the Collateral Trust Agreement.

NOW THEREFORE, in consideration of the foregoing and for good and valuable consideration, the receipt of which is hereby acknowledged, the parties to this Amendment hereby agree as follows:

1.Capitalized Terms.  Capitalized terms used herein but not defined shall have the meanings assigned to them in the Pledge and Security Agreement

 

 

2.Amendment.  Effective as of the Effective Date, the Pledge and Security Agreement is hereby amended as follows:

	
 
	
(a)
	
Section 2.2(d) of the Pledge and Security Agreement is hereby amended by deleting the word “or” at the end thereof.

	
 
	
(b)
	
The second Section 2.2(d) of the Pledge and Security Agreement is hereby relabeled as Section 2.2(e) and is hereby further amended by replacing the “.” at the end thereof with the words “; or”.

	
 
	
(c)
	
Section 2.2 of the Pledge and Security Agreement is hereby amended by adding a new Section 2.2(f) at the end thereof to read as follows:

“assets and properties of any Grantor that are subject to a Lien permitted under clause (6) of the definition of Permitted Liens, if the lease, license, contract or agreement pursuant to which such Lien is granted (or in the document giving rise to a Capitalized Lease Obligation) prohibits or requires the consent of any Person other than a Grantor or its Affiliates which has not been obtained as a condition to the creation of any other Lien on such asset or property.”

3.Effect of Amendment.  Except as expressly amended hereby, the Pledge and Security Agreement remains in full force and effect.

4.Governing Law.  THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

5.Counterparts.  The parties may sign any number of copies of this Amendment. Each signed copy shall be an original, but all of them together represent the same agreement.

6.Effect of Headings.  The Section headings herein are for convenience only and shall not affect the construction of this Amendment.

 

[Signature page follows.]

 

 

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the date first written above.

 

REAL ALLOY HOLDING, INC.
REAL ALLOY RECYCLING, INC. 
REAL ALLOY SPECIALTY PRODUCTS, INC.
ETS SCHAEFER, LLC
REAL ALLOY SPECIFICATION, INC.
REAL ALLOY BENS RUN, LLC

By: /s/ Michael J. Hobey          

Name: Michael J. Hobey
Title: Vice President

Real Alloy Intermediate Holding, LLC

By: /s/ Kyle Ross                         

Name: Kyle Ross
Title:  President

RA MEXICO HOLDING, LLC

By: /s/ Jeffrey Crusinberry      

Name: Jeffrey Crusinberry
Title:  President

(Signature page to Amendment to Pledge and Security Agreement)

 

 

WILMINGTON TRUST, NATIONAL ASSOCIATION, as Notes Collateral Trustee

By: /s/ Jane Schweiger           

Name: Jane Schweiger
Title: Vice President

 

 

 

(Signature page to Amendment to Pledge and Security Agreement)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00264-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00264-of-00352.parquet"}]]