Document:

Exhibit
10.02

 

Execution
Version

 

Lock-Up
Agreement

 

September
___, 2020

 

This
Lock-Up Agreement (this “Agreement”) is executed by and between SRAX, Inc. (“Parent”),
and the undersigned signatory in connection with the Agreement and Plan of Merger, dated as of September 4, 2020 (the “Merger
Agreement”), by and among Parent, Townsgate Merger Sub 1, Inc., a Delaware corporation and wholly owned subsidiary
of Parent (“Merger Sub 1”), LD Micro, Inc., a Delaware corporation and wholly owned subsidiary of Parent
(“Merger Sub 2”), LD Micro, Inc., a California corporation (“LD Micro”), and
Christopher Lahiji, as the sole stockholder of LD Micro, pursuant to which Merger Sub 1 will merge with and into LD Micro, with
LD Micro surviving the merger, and then LD Micro will merge with and into Merger Sub 2, with Merger Sub 2 surviving the merger
as a wholly owned subsidiary of Parent (collectively, the “Merger”) and pursuant to which all outstanding
shares of LD Micro’s capital stock will be exchanged for shares of Class A common stock, par value $0.001 per share (the
“Common Stock”), of Parent.

 

As
an inducement to the parties entering into the Merger Agreement and for other good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged, the undersigned, by executing this Agreement, agrees that, without the prior written
consent of Parent, during the period commencing at the Effective Time (as defined in the Merger Agreement) and continuing until
the time set forth in the following paragraph, the undersigned will not offer, pledge, sell, contract to sell, or otherwise transfer
or dispose of or lend, directly or indirectly, any shares of Common Stock issued to the undersigned pursuant to the Merger Agreement
(the “Securities”) (such restrictions, the “Lock-Up Restrictions”).

 

Notwithstanding
the terms of the foregoing paragraph, the Lock-Up Restrictions shall automatically terminate and cease to be effective with respect
to the Securities on the thirty six (36) month anniversary of the date of the Effective Time. The period during which the Lock-Up
Restrictions apply to any particular portion of the Securities shall be deemed the “Lock-Up Period”
with respect thereto.

 

The
undersigned agrees that the Lock-Up Restrictions preclude the undersigned from engaging in any hedging or other transaction during
the Lock-Up Period with respect to any then-subject Securities which is designed to or which reasonably could be expected to lead
to or result in a sale or disposition of such Securities even if such Securities would be disposed of by someone other than the
undersigned. Such prohibited hedging or other transactions would include without limitation any short sale or any purchase, sale
or grant of any right (including without limitation any put or call option) during the Lock-Up Period with respect to such Securities
or with respect to any security that includes, relates to, or derives any significant part of its value from such Securities.

 

Notwithstanding
the foregoing, the undersigned may transfer any of the Securities:

 

	 	(i)	as
    a bona fide gift or gifts or charitable contribution(s), 
	 	 	 
	 	(ii)	to
    any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned, 

 

    	 

     

    

 

	 	(iii)	if
    the undersigned is a corporation, partnership, limited liability company, trust or other business entity (1) to another corporation,
    partnership, limited liability company, trust or other business entity that is a direct or indirect affiliate (as defined
    in Rule 405 promulgated under the Securities Act of 1933, as amended) or subsidiary of the undersigned or that controls, is
    controlled by, or under common control with the undersigned, (2) as distributions of Securities to partners, subsidiaries,
    affiliates, limited liability company members or stockholders of the undersigned, holders of similar equity interests in the
    undersigned and any investment fund or affiliated entity or (3) as a transfer or distribution to any employee of the undersigned
    or an entity listed in clause (1) above or the undersigned, 
	 	 	 
	 	(iv)	if
    the undersigned is a trust, to the beneficiary of such trust, 
	 	 	 
	 	(v)	by
    testate succession or intestate succession, 
	 	 	 
	 	(vi)	to
    any immediate family member, any investment fund, family partnership, family limited liability company or other entity controlled
    or managed by the undersigned, 
	 	 	 
	 	(vii)	to
    a nominee or custodian of a person or entity to whom a disposition or transfer would be permissible under clauses (i) through
    (vi), 
	 	 	 
	 	(viii)	pursuant
    to transfers in response to a bona fide third-party tender offer, merger, consolidation or other similar transaction made
    to or with all holders of Parent’s capital stock involving a “change of control” (as defined below) of Parent
    that has been approved by the board of directors of Parent, provided that in the event that such tender offer, merger, consolidation
    or other such transaction is not completed, the Securities shall remain subject to the restrictions contained in this Agreement.
    For purposes of this clause (xi), “change of control” means the consummation of any bona fide third-party tender
    offer, merger, consolidation or other similar transaction the result of which is that any “person” (as defined
    in Section 13(d)(3) of the Exchange Act), or group of persons, other than Parent, becomes the beneficial owner (as defined
    in Rules 13d-3 and 13d-5 of the Exchange Act) of more than 50% of the total voting power of the voting stock of Parent (or
    surviving entity), or all or substantially all of the assets of Parent, 
	 	 	 
	 	(ix)	pursuant
    to a domestic relations order or order of a court or regulatory agency, or 
	 	 	 
	 	(x)	pursuant
    to a pledge of shares as collateral for margin loans, and any transfer upon foreclosure upon such pledged shares; 

 

provided,
in the case of clauses (i)-(vii), that (A) such transfer shall not involve a disposition for value and (B) the transferee
agrees in writing with Parent to be bound by the terms of this Agreement; and provided, further, in the case of clauses
(ix) and (x) the transferee agrees in writing with Parent to be bound by the terms of this Agreement, and in the case of clauses
(i), (ii), (iv)-(vii), no filing by any party (donor, donee, transferor or transferee) under Section 16(a) of the Exchange Act
shall be required or shall be made voluntarily in connection with such transfer reporting a reduction in beneficial ownership
of Securities during the Lock-Up Period. For purposes of this Agreement, “immediate family” shall mean any relationship
by blood, marriage, domestic partnership or adoption, not more remote than first cousin, and shall include any former spouse.

 

    	 

     

    

 

In
addition, the foregoing restrictions shall not apply to (i) conversion or exercise of (x) warrants or (y) convertible notes into
Parent Common Stock or into any other security convertible into or exercisable for Parent Common Stock that are outstanding as
of the effective time of the Merger (but for the avoidance of doubt, excluding all manners of conversion or exercise that would
involve a sale in the open market of any securities relating to such warrants, whether to cover the applicable aggregate exercise
price, withholding tax obligations or otherwise); provided that it shall apply to any of the Securities issued upon such conversion
or exercise, or (ii) the establishment of any contract, instruction or plan (a “Plan”) that satisfies
all of the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act; provided that (a) no sales of the Securities
shall be made pursuant to such a Plan prior to the expiration of the Lock-Up Period and (b) to the extent a public announcement
or filing under the Exchange Act is required of the undersigned or required or voluntarily made by or on behalf of Parent regarding
the establishment of such plan, such announcement or filing shall include a statement to the effect that no transfer of Parent
Common Stock may be made under such plan during the Lock-Up Period. The undersigned may not voluntarily make any such announcement
or filing with respect to any such plan. In furtherance of the restrictions set forth in this Agreement, Parent and its transfer
agent and registrar are hereby authorized to decline to make any transfer of shares of Parent Common Stock if such transfer would
constitute a violation or breach of this Agreement.

 

In
addition, the Lock-Up Restrictions shall be automatically waived, on a daily basis, with regard to such number of Securities equal
to ten percent (10%) of the daily volume during each day Parent’s Class A common stock trades over $5.00 per share with
a volume equal to or greater than 250,000 shares. For purposes of clarity, such waiver shall require the shares subject to the
waiver to be sold on the day during which the waiver applies, subject to the customary securities settlement period in accordance
with Rule 15c6-1 under the Exchange Act.

 

The
undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Agreement and
that upon request, the undersigned will execute any additional documents reasonably necessary to ensure the validity or enforcement
of this Agreement. All authority herein conferred or agreed to be conferred and any obligations of the undersigned shall be binding
upon the successors, assigns, heirs or personal representatives of the undersigned.

 

The
undersigned understands that the undersigned shall be released from all obligations under this Agreement if the Merger Agreement
is terminated pursuant to its terms or if the Merger is not consummated by the earlier of (i) five (5) business days of the date
of the Merger Agreement, or (ii) December 31, 2020.

 

The
undersigned understands that the parties to the Merger Agreement are entering into such agreement in reliance upon this Agreement.

 

This
Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware.

 

[Signature
Page follows]

 

    	 

     

    

 

The
undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Lock-Up Agreement
and that, upon request, the undersigned will execute any additional documents necessary in connection with the enforcement hereof.
Any obligations of the undersigned shall be binding upon the heirs, personal representatives, successors and assigns of the undersigned.

 

	 	Very
    truly yours,
	 	 
	 	SRAX,
    Inc.
	 	 	 
	 	By:	 
	 	 	Signature
	 	 	 
	 	Name:	 
	 	 	 
	 	Title:	 

 

Dated:
_______________

 

    	 

     

    

 

The
undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Lock-Up Agreement
and that, upon request, the undersigned will execute any additional documents necessary in connection with the enforcement hereof.
Any obligations of the undersigned shall be binding upon the heirs, personal representatives, successors and assigns of the undersigned.

 

	 	Very
    truly yours,
	 	 	 
	 	 
	 	Printed
    Name of Holder
	 	 	 
	 	By:	 
	 	 	Signature
	 	 
	 	        Printed
    Name of Person Signing
	 	(and
    indicate capacity of person signing if
	 	signing
    as custodian, trustee, or on behalf of an entity)

 

Dated:
_______________Exhibit
10.03

 

Execution
Version

 

VOTING
PROXY AGREEMENT

 

This
PROXY AGREEMENT, dated as of September ___, 2020 (this “Proxy Agreement”), is between Christopher
Lahiji (“Stockholder”) and Christopher Miglino, an individual or any successor (“Miglino”),
in his capacity as Chief Executive Officer (“CEO”) of SRAX, Inc., a Delaware corporation (the “Company”).

 

RECITALS

 

WHEREAS,
the Company, Townsgate Merger Sub 1, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger
Sub 1”), LD Micro, Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger
Sub 2”), LD Micro, Inc., a California corporation (“LD Micro”), and Christopher Lahiji,
as the sole stockholder of LD Micro, have entered into that certain Agreement and Plan of Merger, dated as of even date herewith
(the “Merger Agreement”), pursuant to which Merger Sub 1 will merge with and into LD Micro, with LD
Micro surviving the merger, and then LD Micro will merge with and into Merger Sub 2, with Merger Sub 2 surviving the merger as
a wholly owned subsidiary of the Company (collectively, the “Merger”) and pursuant to which all outstanding
shares of LD Micro’s capital stock will be exchanged for shares of Class A common stock, par value $0.001 per share (the
“Common Stock”), of the Company in accordance with the terms and conditions of the Merger Agreement;

 

WHEREAS,
as of the Second Merger Effective Time (as defined in the Merger Agreement), the Stockholder will be the beneficial owner of 1,490,000
shares of Common Stock (the “Subject Securities”); and

 

WHEREAS,
as an inducement to the Company to enter into the Merger Agreement and to issue the Subject Securities, the Company has required,
and the Stockholder has agreed, to grant this proxy to Miglino, or any successor, in his capacity as CEO, with respect to the
Subject Securities.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the parties agree as follows:

 

ARTICLE
I

 

VOTING
PROXY

 

Section
1.01. Proxy.

 

(a)
The Stockholder hereby (i) grants to, and appoints, Miglino, or any successor, in his capacity as CEO, the Stockholder’s
proxy and attorney-in-fact (with full power of substitution), for and in the name, place and stead of the Stockholder, to vote
all of the Subject Securities, (ii) revokes any and all proxies heretofore given in respect of the Subject Securities, and (iii)
authorizes Miglino to file this Proxy Agreement and any substitution or revocation with the Company so that the existence of this
Proxy Agreement is noted on the books and records of the Company. If requested, the Stockholder will execute supplementary proxies
and consents to give effect to this Proxy Agreement in connection with any vote of capital stock of the Company. The power of
attorney granted by the Stockholder herein is a durable power of attorney and shall survive the dissolution or bankruptcy of the
Stockholder. Notwithstanding anything to the contrary in the foregoing, Miglino can transfer the rights set forth in Section
1.01 to a member of the Board of Directors of the Company (the “Board”) with the approval of the
majority of the Board or to Miglino’s successor.

 

    	 	 	 

    	 	 	 

    

 

(b)
The Stockholder hereby affirms that the irrevocable proxy set forth in this Section 1.01 is given in connection with the
execution of the Merger Agreement and the issuance of the Subject Securities, and that such irrevocable proxy is given to secure
the performance of the duties of the Stockholder under this Agreement. The Stockholder hereby further affirms that the irrevocable
proxy is coupled with an interest and, except if this Agreement is terminated in accordance with Section 2.04 hereof, is intended
to be irrevocable in accordance with the provisions of Section 212 of the Delaware General Corporation Law. If for any reason
the proxy granted herein is not irrevocable, then the Stockholder agrees to vote the Subject Securities as instructed by the Board
in writing.

 

(c)
Until the termination of this Proxy Agreement in accordance with Section 2.04 hereof, the attorney-in-fact and proxy named
above is hereby authorized and empowered by the Stockholder at any time after the date hereof to act as the Stockholder’s
attorney-in-fact and proxy with respect to the Subject Securities and hereby agrees to vote the Subject Securities in favor of
any stockholder proposals recommended by the Board, and to exercise all voting, consent and similar rights of the Stockholder
with respect to the Subject Securities (including, without limitation, the power to execute and deliver written consents, if applicable),
at every annual, special, adjourned or postponed meeting of the stockholders of the Company and in every written consent in lieu
of such a meeting, if applicable, in connection with such stockholder proposals. The Stockholder shall not commit or agree to
take any action inconsistent with the foregoing.

 

ARTICLE
II

 

MISCELLANEOUS

 

Section
2.01. Effective Date. This Proxy Agreement shall become effective upon the date first written above.

 

Section
2.02. Applicable Law; Dispute Resolution. This Proxy Agreement shall be construed in accordance with and governed by the
laws of the State of Delaware without regard to principles of conflict of laws. The parties agree that irreparable damage would
occur in the event any of the provisions of this Proxy Agreement were not performed in accordance with the terms hereof and that
such damage would not be adequately compensable in monetary damages. Accordingly, the parties hereto shall be entitled to an injunction
or injunctions to prevent breaches of this Proxy Agreement, to enforce specifically the terms and provisions of this Proxy Agreement
exclusively in the Court of Chancery or other federal or state courts of the State of Delaware, in addition to any other remedies
at law or in equity, and each party agrees it will not take any action, directly or indirectly, in opposition to another party
seeking relief. Each of the parties hereto agrees to waive any bonding requirement under any applicable law, in the case any other
party seeks to enforce the terms by way of equitable relief. Furthermore, each of the parties hereto (a) consents to submit itself
to the exclusive personal jurisdiction of the Court of Chancery or, to the extent that the Delaware Court of Chancery declines
to exercise jurisdiction over the matter, other federal or state courts of the State of Delaware in the event any dispute arises
out of this Proxy Agreement or the transactions contemplated by this Proxy Agreement, (b) agrees that it shall not attempt to
deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (c) agrees that it shall not
bring any action relating to this Proxy Agreement or the transactions contemplated by this Proxy Agreement in any court other
than the Court of Chancery or, to the extent that the Delaware Court of Chancery declines to exercise jurisdiction over the matter,
other federal or state courts of the State of Delaware, and (d) each of the parties irrevocably consents to service of process
by a reputable overnight mail delivery service, signature requested, to the address set forth below the signature of such party
or to such address as subsequently modified by written notice given in accordance with Section 2.05.

 

    	 	 	 

    	 	 	 

    

 

Section
2.03. Assigns. Subject to Section 1.01 hereof, this Proxy Agreement may not be assigned, whether outright or by
operation of law, by any party hereto without the prior written consent of the non-assigning party, which consent shall not be
unreasonably withheld.

 

Section
2.04. Entire Agreement; Termination. This Proxy Agreement contains the entire understanding among the parties hereto and
supersedes all prior written or oral agreements among them respecting the within subject matter, unless otherwise provided herein.
There are no representations, agreements, arrangements or understandings, oral or written, among the parties hereto relating to
the subject matter of this Proxy Agreement that are not fully expressed herein. This Agreement shall be effective as of the date
hereof and shall continue in effect until and shall terminate on December 31, 2022.

 

Section
2.05. Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i)
upon personal delivery to the party to be notified, (ii) five (5) days after having been sent by registered or certified mail,
return receipt requested, postage prepaid or (iii) one (1) day after deposit with a nationally recognized overnight courier, specifying
next day delivery, with written verification of receipt. All communications shall be sent to the address set forth in this Section
2.05 or at such other address as the Company, Miglino or the Stockholder may designate by ten (10) days advance written notice
to the other party hereto:

 

If
to the Stockholder:

 

To
the address set forth on the signature page hereto.

 

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

 

Mitchell
Silberberg & Knupp LLP

2049
Century Park East, 18th Floor

Los
Angeles, CA 90067

Facsimile:
(310) 231-8302

E-mail:

Attention:

 

If
to the Company or Miglino:

 

456
Seaton Street

Los
Angeles CA 90013

Facsimile:
N/A

E-mail:

Attention:

 

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

 

Silvestre
Law Group, P.C.

2629
Townsgate Rd. #215

Westlake
Village, CA 91361

Facsimile:
(805) 553-9783

E-mail:

Attention:

 

Section
2.06. Waiver. No consent or waiver, express or implied, by any party to, or of any breach or default by another party in
the performance of, this Proxy Agreement shall be construed as a consent to or waiver of any subsequent breach or default in the
performance by such other party of the same or any other obligations hereunder.

 

    	 	 	 

    	 	 	 

    

 

Section
2.07. Counterparts. This Proxy Agreement may be executed in several counterparts, which shall be treated as originals for
all purposes, and all counterparts so executed shall constitute one agreement, binding on all the parties hereto, notwithstanding
that not all the parties are signatory to the original or the same counterpart. Any such counterpart shall be admissible into
evidence as an original hereof against the person who executed it.

 

Section
2.08. Headings. The headings in this Proxy Agreement are for convenience of reference only and shall not limit or otherwise
affect the meaning of terms contained herein.

 

Section
2.09. Severability. The invalidity or unenforceability of any provision hereof shall in no way affect the validity or enforceability
of any other provision. 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.

 

Section
2.10. Amendments and Waivers. The provisions of this Proxy Agreement may be modified or amended at any time and from time
to time, and particular provisions of this Proxy Agreement may be waived or modified, with and only with an agreement or consent
in writing signed by the Company, Miglino (or, if applicable, his duly appointed successor or any further successor thereto) and
the Stockholder.

 

Section
2.11. Further Assistance. The parties hereto shall execute and deliver all documents, provide all information and take
or refrain from all such action as may be necessary or appropriate to achieve the purposes of this Proxy Agreement.

 

Section
2.12. Third Party Beneficiary. The Company is an intended third party beneficiary of this Proxy Agreement.

 

[Remainder
of Page Intentionally Left Blank]

 

    	 	 	 

    	 	 	 

    

 

IN
WITNESS WHEREOF, this Proxy Agreement has been signed by each of the parties hereto, and shall be effective as of the date
first above written.

 

	 	STOCKHOLDER
	 	 	 
	 	By:
    	                            
	 	Name:	

 

	 	Address:	 
	 	 	 
	 	E-mail:	 

 

	 	CEO
	 	 	 
	 	 	 
	 	Name:	Christopher
    Miglino
	 	Title:	CEO

 

Acknowledged
and Agreed: 

 

SRAX,
INC.

 

	By:
    	 	 
	Name:	 	 
	Title:	 	 

 

[Signature
Page to Voting Proxy Agreement]

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