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Exhibit 10.2  

Real-Estateforlease.com, Inc.

c/o Benchmark Equity Group

700 Gemini, Suite 100

Houston, TX 77058

Telephone: (281) 488-3883

Facsimile: (281) 488-5353

 
 

PLACEMENT AGENT AGREEMENT    
    

	Fordham Financial Management, Inc.

14 Wall Street, 18th Floor

New York, NY 10005

Telephone: (212) 732-8500

Facsimile: (212) 349-2554	 	November 22, 2004

Dear
Sirs: 

        Real-estateforlease.com, Inc.,
a Delaware corporation (the "Company"), confirms its agreement with Fordham Financial Management, Inc., a Colorado corporation
(the "Placement Agent"), with respect to the sale by the Company of up to 153 Units, each Unit (the "Unit") consisting of 15,000 shares of Series A Convertible Preferred Stock (the "Shares") to
be offered for sale pursuant to a Confidential Private Placement Memorandum (the "Memorandum") to be provided to investors, at a purchase price of $52,500 per Unit. The Placement Agent has the right
to increase the maximum offering by up to 80 Units without the consent of investors in the offering. Each Share shall be convertible into two shares of Common Stock at any time after issuance.
Dividends at the rate of $.21 per share (equivalent to 6%) per year shall be payable on an annual basis at the option of the Company in cash or in Shares commencing December 31, 2004. The
dividends payable on December 31, 2004 shall be pro rated from the date of closing of the Offering and payable on December 31, 2005 together with dividends declared for 2005. In the
event the Company elects to pay the annual dividend in additional shares of Series A Convertible Preferred Stock, the Shares will have an assumed value of $3.50 per share at all times for
purposes of determining the number of shares to be issued with each dividend. The Shares shall have a liquidation preference of $3.50 per Share plus accrued and unpaid dividends. In connection with
dividends payable in Shares, all Shares issued shall be rounded up to the nearest whole number. On December 31, 2007, all outstanding shares of Series A Preferred Stock, if any, shall
automatically convert on that date into shares of Common Stock plus accrued and unpaid dividends at the then applicable Conversion Ratio. 

        The
holders of the Series A Preferred stock will have piggy-back registration rights for a period of four years commencing one year from the final closing date of the
Offering. The piggy-back registration rights are not applicable to a registration statement filed by the Company on Form S-8 or any other inappropriate form. The Piggy
Back Registration Rights are unlimited. 

        The
Placement Agent shall have the right to sell fractional Units; provided that no fractional Shares shall be issued. The offering of the first 67 Units will be on a "best efforts,
all-or-none" basis for a minimum of $3,517,500 and the remaining 86 Units on a "best efforts" basis, for a maximum total offering of $8,032,500. American Stock
Transfer & Trust Company ("AST") shall act as Escrow Agent for the offering. If the minimum number of 67 Units is not sold within 90 days of the commencement of the offering (the
"Initial Subscription Period"), the Company may elect to extend the offering for up to an additional 120 days or terminate the offering in which case all funds will be returned by the Escrow
Agent directly to the subscribers without interest or deduction therefrom. The offering period, 

1

 

as
extended, may be further extended for up to 10 days for bank collection purposes only. In the event that the minimum Units are sold within the Initial Subscription Period, then the Company
shall automatically extend the offering period for up to 120 days or until the maximum number of Units are sold. The offering is to be made to accredited investors, as that term is defined
under Rule 501 of Regulation D of the Securities Act of 1933, as amended (the "Act"). The time and date of delivery and payment hereunder are herein called the "Closing Date." 

        SECTION
1.    Representations by the Company.    

        The
parties understand and agree that a condition precedent to closing of the Offering shall be the Company's prior or contemporaneous completion of the proposed merger (the "Merger") by
and among the Company's merger subsidiary, Uni-Pixel Displays, Inc. ("Uni-Pixel Displays") and Gemini V, Inc. ("Gemini V") (collectively together with
Real-estateforlease.com hereinafter referred to as the "Merger Parties"). The Board of Directors will approve, subject to stockholder approval, a change in corporate name from
Real-Estateforlease.com, Inc. to a name to be determined by the Board after the completion of the Merger. All references in this Placement Agent Agreement to "the Company" include
the Merger Parties unless the context indicates otherwise. The Company prior to the commencement of the Private Placement shall have been recapitalized, if necessary, and shall have authorized capital
stock and number of shares of outstanding Capital Stock as described in the Memorandum and as represented to the Placement Agent prior to the execution of this Agreement. The number of shares of
Common Stock issuable upon exercise of derivative securities (options, warrants and convertible debt securities) shall be as described in the Memorandum. The capitalization of the Company shall be
subject to the satisfaction of the Placement Agent. During the offering period and for a period of two years after the final closing date of this offering, the Company will not make changes to its
stock option plan as described in the Memorandum, authorize the creation any new stock option plans or file a Form S-8 Registration Statement without first obtaining the
prior written consent of the Placement Agent. 

        For
a period of 12 months after the final Closing Date of the Offering, the Company will not file a Form S-1, Form SB-2 or similar
registration statement with the Securities and Exchange Commission ("SEC"). However, the Company will file a Form 10-SB Registration Statement under the Securities Exchange
Act of 1934, as amended (the "Exchange Act") as soon as practicable after the completion of the final closing date of the offering and become a reporting company under the Exchange Act. 

        The
stockholders of the Company who will hold more than 50% of the outstanding shares of Common Stock have agreed, upon the request of the Placement Agent, to elect one (1) person
designated by the Placement Agent to the Board of Directors of the Company for a term of three (3) years following the first closing of the Offering. The designee of the Placement Agent serving
on the Board of Directors will be compensated and receive reimbursed expenses for the attendance of meetings of the Board of Directors. The Company shall utilize commercially reasonable efforts to
obtain officer and director liability insurance in an amount determined by the Board of Directors. 

        SECTION
2.    Placement Agent Securities.    

        At
each closing, the Placement Agent will receive five year warrants to purchase 4,500 shares of Common Stock for each Unit sold in the Offering (the "Placement Agent Warrants"). The
Placement Agent Warrants shall be exercisable at $1.75 per share at any time from the first Closing Date and expiring five years thereafter (the "Warrant Exercise Term"). The Placement Agent shall
receive the Placement Agent Warrants in consideration of its services rendered in connection with the private placement. The Placement Agent Warrants to be received by the Placement Agent and the
underlying shares of Common Stock issuable upon exercise thereof are collectively referred to as the "Placement Agent Securities." The purchase price of the shares issuable pursuant to the Placement
Agent Warrants, shall be payable in cash, by certified bank check and/or in lieu of cash, a warrant holder may exercise its Warrants through a cashless exercise. In this respect, at any time during
the Warrant 

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Exercise
Term, the Holder may, at its option, exchange the Placement Agent Warrants, in whole or in part (a "Warrant Exchange"), into the number of fully paid and non-assessable Warrant
Shares determined in accordance with this Section 2, by surrendering the Placement Agents Warrants which shall represent the right to subscribe for and acquire the number of Warrant Shares
(rounded to the next highest integer) equal to (A) the number of Warrant Shares specified by the Holder in its Notice of Exchange (the "Total Share Number") less (B) the number of
Warrant Shares equal to the quotient obtained by dividing (i) the product of the Total Share Number and the existing Exercise Price (i.e. $1.75 per share) per Share by (ii) the Market
Price (as hereafter defined) of a share of Common Stock. All documentation and procedures to be followed in connection with such "cashless exercise" shall be approved in advance by the Company, which
approval shall be expeditiously provided and not unreasonably withheld. 

        The
Market Price of any shares of Common Stock or Placement Agent Warrants to purchase shares so surrendered shall be based upon the value of the Company's Common Stock at the close of
business on the day before exercise based upon the following: (i) if the shares of Common Stock are not listed and traded upon a recognized securities exchange and there is no report of stock
prices with respect to the shares of Common Stock published by a recognized stock quotation service, the Company's Board of Directors shall value the shares of Common Stock in good faith; or
(ii) if the shares of Common Stock are not then listed and traded upon a recognized securities exchange or quoted on the NASDAQ Stock Market, and there are reports of stock prices by a
recognized quotation service, upon the basis of the last reported sale or transaction price of such stock as reported by a recognized quotation service, or, if there is no last reported sale or
transaction price on the day before exercise, then upon the basis of the mean of the last reported closing bid and closing asked prices for such stock on the date nearest preceding that day; or
(iii) if the shares of Common Stock shall be then listed and traded upon a recognized securities exchange or quoted on the NASDAQ Stock Market, upon the basis of the last reported sale or
transaction price at which shares of Common Stock were traded on such recognized securities exchange or NASDAQ Stock Market or, if the shares of Common Stock were not traded on the day before
exercise, upon the basis of the last reported sale or transaction price on the date nearest preceding that date. In the event the Company is acquired for either stock, notes, securities, cash or any
combination thereof, the holders of the Placement Agent Warrants shall have the option to use the purchase price of the Shares as the value of the Common Stock if the Warrants are being exercised on
or about the time of such acquisition. 

        The
Placement Agent Warrants shall contain broad-based weighted average anti-dilution provisions to protect the holders of such Warrants from dilution. Such provisions shall
be mutually agreed to by the Placement Agent and the Company. 

        Commencing
12 months after the final closing date of this offering and expiring four years thereafter, upon request of the Placement Agent or the holders of a majority of the
Placement Agent Securities, on one occasion only at the Company's sole expense, the Company shall file a registration statement under the Act with the Securities and Exchange Commission (the
"Commission") to register the Placement Agent Securities for resale unless such shares can be resold without volume restriction pursuant to Rule 144. The Company agrees to register such
securities expeditiously and, where possible, within forty-five (45) business days after receipt of such request. The Company agrees to use its "best efforts" to cause the
registration statement to become effective as soon as possible and to keep such registration statement current until the earlier of (i) 18 months from the initial effective date of the
registration statement or (ii) the sale of all registered securities, so that the holders of Placement Agent Securities can publicly offer their shares for sale. The Placement Agent may demand
registration without the holders of the Placement Agent Securities being required to exercise the Placement Agent Warrants and acquire the underlying securities. Commencing 12 months after the
final closing date of this Offering and expiring four years thereafter, in the event that the Company should file a Registration Statement with the Commission pursuant to the Act, regardless of
whether some of the 

3

 

holders
of the Placement Agent Securities shall have theretofore availed themselves of the right provided in the preceding paragraph, the Company, at its own expense, will offer to said holders the
opportunity to register for resale to the public the Placement Agent Securities. This paragraph is not applicable to a Registration Statement filed by the Company with the SEC on
Form S-8 or any other inappropriate form. The piggy-back registration rights described in this paragraph shall be unlimited until such time as the current holders of the
Placement Agent Securities have notified the Company that they no longer own such securities. 

        SECTION
3.    Additional Representations and Warranties.    

        (a)   The
Company represents and warrants to the Placement Agent as follows, it being understood that the Memorandum has not currently been finalized, but will be provided to
the Placement Agent by the Company before the commencement of the offering and all representations and warranties as to the contents of the Memorandum will be deemed to have been made only upon the
completion of the Memorandum: 

          (i)  On
the date of the Memorandum and at the Closing Date, the Memorandum will comply in all material respects with the requirements of the Act and the rules and
regulations thereunder ("the 1933 Act Regulations"), and will neither contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, that the representations and warranties in this subsection shall not apply to statements in or omissions from the Memorandum made in reliance
upon and in conformity with
information furnished to the Company in writing by the Placement Agent expressly for use in the Memorandum. 

         (ii)  The
financial statements included in the Memorandum present fairly the financial position of the Company as of the dates indicated and the results of its operations for
the periods specified. 

        (iii)  Since
the respective dates as of which information is given in the Memorandum and at the Closing Date, except as otherwise stated therein or contemplated thereby,
(A) there has been no material adverse change in the condition, financial or otherwise, of the Company, or in the affairs or business prospects of the Company, whether or not arising in the
ordinary course of business, (B) there have been no material transactions entered into by the Company other than those in the ordinary course of business, and (C) there has been no
dividend or distribution of any kind declared, paid or made by the Company on its capital shares. 

        (iv)  The
Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware with corporate power and
authority to own, lease and operate its properties and conduct its business as described in the Memorandum; and the Company is duly qualified as a foreign corporation to transact business and is in
good standing in each jurisdiction in which the conduct of its business and/or its ownership of property requires such qualification except for such jurisdictions in which the failure to qualify in
the aggregate would not have a material and adverse effect on the results of operations or financial conditions of the Company. 

         (v)  Except
as disclosed in the Memorandum, the Company does not have any subsidiaries and does not own any interest in any other corporation, partnership, joint venture or
other entity. 

        (vi)  The
authorized, issued and outstanding capital shares of the Company are as set forth in the Memorandum as of the dates set forth in the Memorandum; the issued and
outstanding Capital Stock set forth therein have been duly authorized and validly issued and are fully paid and non-assessable; the Units have been duly authorized for issuance and sale in
accordance with this Agreement and, when issued and delivered by the Company pursuant to 

4

 

this
Agreement and the Subscription Agreement against payment of the consideration set forth in Section 5 hereof, will be validly issued; the Units conform to all the statements relating
thereto contained in the Memorandum; there are no outstanding options, warrants or other rights to purchase Shares of Preferred Stock or Shares of Common Stock or any understanding or agreement
concerning any options, warrants or rights to purchase Shares of Preferred Stock, except as set forth in or contemplated by the Memorandum; and the issuance of the Company's capital stock is not
subject to preemptive rights. 

       (vii)  This
Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding agreement, enforceable in accordance with its terms,
except as enforceability of any indemnification provision may be limited under federal securities laws and except as enforceability of such agreements may be limited by applicable bankruptcy,
reorganization, insolvency, moratorium or other laws relating to or affecting generally the enforcement of creditors' rights, except that any remedy in the nature of equitable relief is in the
discretion of the Court. 

      (viii)  On
the date of the Memorandum and at each Closing Date, the Company owns good and marketable title to all properties and assets described in the Memorandum as owned
by it, free and clear of all liens, charges, encumbrances or restrictions, except such as are described or referred to in the Memorandum or are not materially significant or important in relation to
the business of the Company. 

        (ix)  Except
as disclosed in or contemplated by the Memorandum, the Company is not in violation of its Certificate of Incorporation, as amended, or by-laws or in
default in the performance or observance of any material obligation, agreement, covenant or condition contained in any material bond, debenture, note or other evidence of indebtedness or in any
material contract, indenture, mortgage, loan agreement, lease, joint venture or other agreement or instrument to which the Company is a party or by which it or any of its properties are bound; and the
execution and delivery of this Agreement, the incurrence of the obligations herein set forth and the consummation of the transactions herein contemplated will not conflict with, or result in a breach
of any of the material terms, conditions or provisions of, or constitute a default under, the charter documents or by-laws of the Company or any material bond, debenture, note or other
evidence of indebtedness or any material contract, indenture, mortgage, loan agreement, lease, joint venture or other agreement or instrument to which the Company is a party or by which it or any of
its properties are bound. 

         (x)  Except
as may be set forth in or contemplated by the Memorandum, there is no action, suit or proceeding before or by any court or governmental agency or body, domestic
or foreign, now pending, or, to the knowledge of the Company, threatened against or affecting the Company, which might result in any material and adverse change in the condition (financial or
otherwise), business or prospects of the Company. 

        (xi)  Except
as disclosed in or contemplated by the Memorandum, each material contract to which the Company is a party is in full force and effect or has terminated in
accordance with its terms or as set forth in the Memorandum; and no party to any such contract has given notice of the cancellation of or, to the knowledge of the Company, has the intention to cancel
any such material contract. 

       (xii)  Except
for fees and disbursements payable to the Placement Agent pursuant to this Agreement, there are no outstanding claims for services either in the nature of a
finder's fee, brokerage fee or other similar fee with respect to the Private Placement for which the Company or the Placement Agent may be responsible. 

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      (xiii)  The
Company has not sold any of its securities during the 12 months preceding the date hereof in reliance upon an exemption from registration under the Act,
except as described in the Memorandum. Further, during the 12 months preceding the date hereof, the Company has not sold any securities in violation of Section 5 of the Act. 

      (xiv)  The
Company will comply with the prohibition against general advertising and general solicitations imposed by Rule 502(c) of Regulation D. 

        (b)   Any
certificate signed by any officer of the Company and delivered to the Placement Agent shall be deemed a representation and warranty by the Company to the Placement
Agent as to the matters covered thereby. 

        (c)   Prior
to the commencement of the offering, lock-up agreements satisfactory to the Placement Agent will be entered into with stockholders, officers and
directors of the Merged Parties. 

        SECTION
4.    Representations and Warranties of the Placement Agent    

        The
Placement Agent of the Offering represents and warrants to the Company and to each Selected Dealer, if any, that: 

        (a)   The
Placement Agent is a corporation duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is incorporated and it has all
requisite power and authority to enter into this Agreement and to carry out its obligations hereunder. The Placement Agent is duly qualified as a foreign corporation in those jurisdictions wherein the
failure to so qualify would have a material adverse effect on its business or properties. 

        (b)   This
Agreement has been duly authorized, executed and delivered by the Placement Agent and on its behalf and constitutes a valid and legally binding obligation
enforceable against the Placement Agent in accordance with its terms. 

        (c)   The
execution and delivery of this Agreement, the observance and performance hereof and the consummation of the transactions contemplated hereby and by the Memorandum do
not and will not result in any breach of, or default under, any instrument or agreement by which the Placement Agent is bound or violate any law or order directed to the Placement Agent of any court
or any federal or state regulatory body or administrative agency having jurisdiction over the Placement Agent or over its property. 

        (d)   The
Placement Agent and each Selected Dealer (as defined below in Section 6) are duly registered as a broker dealer with the Securities and Exchange Commission
pursuant to the Securities Exchange Act of 1934, as amended, and no proceeding has been initiated to revoke any of such registrations; the Placement Agent and each Selected Dealer are members in good
standing of the National Association of Securities Dealers, Inc. (the "NASD"); the Placement Agent and each Selected Dealer are duly registered as broker-dealers under the applicable statutes,
if any, in each state in which the Placement Agent proposes to offer or sell the Shares where such registration is required; and the Placement Agent will enter into a Selected Dealer Agreement with
each Selected Dealer. 

        (e)   The
Placement Agent shall maintain all broker-dealer registrations, referred to above in paragraph (d), throughout the period in which Shares are offered and
sold; the Placement Agent has complied and will comply with all broker-dealer requirements applicable to this transaction; the Placement Agent is not in violation of any order of any court or
regulatory authority applicable to it with respect to the sale of the Shares; and, if the Placement Agent becomes aware that any Selected Dealer has failed to maintain all applicable broker-dealer
registrations or to comply with all broker-dealer requirements applicable to this transaction, the Placement Agent will take such action as is necessary to ensure that such Selected Dealer no longer
participates in the offer and 

6

 

sale
of Shares described herein and to terminate the Selected Dealer Agreement between the Placement Agent and such Selected Dealer. 

        (f)    Pursuant
to the Placement Agent's appointment made herein, the Placement Agent and each Selected Dealer will conduct the Offering in compliance with the requirements of
Regulation D and, in this regard, the Placement Agent and, to the extent applicable to it, each Selected Dealer will have during the course of the Offering, and to the extent any
representations other than those set forth in the Memorandum are made, refrained from making any untrue statement of a material fact and not have omitted to state a material fact required to be stated
or necessary to make any statement made not misleading concerning the Offering or any matters set forth in or contemplated by the Memorandum. The Placement Agent will have refrained from offering,
offering for sale or selling the Shares by means of: (a) any advertisement or other communication mentioning the Shares published in any newspaper, magazine or similar medium or broadcast over
television or radio; or (b) any seminar or meeting announced by means of any kind of general solicitation or general advertising; or (c) any letter, circular, notice or other written
communication, unless the Placement Agent has reasonable grounds to believe and, in fact, does believe that each person to whom the communication is directed is qualified pursuant to the financial
suitability requirements set forth in the Memorandum and the communication is accompanied or preceded by the Memorandum or contains an undertaking to provide the Memorandum upon request. Prior to the
sale of any of the Shares, the Placement Agent will have
reasonably believed and have a reasonable basis and evidence to believe that each subscriber and his duly appointed purchaser representative, if any, met the suitability and other investor standards
set forth in the Memorandum and in the applicable portion of Rule 506 of Regulation D and the Placement Agent will maintain appropriate records substantiating the foregoing. In the event
that the Placement Agent or any Selected Dealer utilized any sales materials other than the Memorandum, the Placement Agent will have refrained from providing any such materials to any offeree of the
Shares or his purchaser representative unless such materials are accompanied or preceded by the Memorandum and were permitted for use in connection with the Offering under applicable federal and state
securities laws and not represented in any such materials or otherwise that any such materials have been approved or authorized by the Company. The Placement Agent will have provided each offeree with
a copy of the Memorandum and the exhibits thereto during the course of the Offering. Until the Closing Date, if any event affecting the Company or the Placement Agent should occur that the Company or
its counsel, the Placement Agent or its counsel believe should be set forth in a supplement or amendment to the Memorandum, the Placement Agent will have promptly distributed such supplement or
amendment to persons who have previously received a copy of the Memorandum from the Placement Agent and who continue to be interested in the Offering and further included such supplement or amendment
in all further deliveries of the Memorandum. The Company shall at its own expense prepare and furnish the Placement Agent with a reasonable number of copies of such supplement or amendment for such
distribution. During the course of the Offering, the Placement Agent will have refrained from duplicating any of the Offering documentation without the prior written consent of the Company; and the
Placement Agent will have accounted for each copy of the Memorandum distributed during the course of the Offering by maintaining a record of each person to whom it has delivered a copy of the
Memorandum. 

        (g)   Neither
the Placement Agent nor any of its representatives is authorized to make any representation on behalf of the Company other than those contained in the Memorandum
or any additional information provided by the Company nor is the Placement Agent or any of its representatives authorized to act as the agent or representative of the Company in any capacity, except
as expressly set forth herein and the Placement Agent shall deliver to the Company on the Closing Date a certificate executed by a responsible officer of the Placement Agent firm to the 

7

 

effect
that it has complied with the foregoing to the best of the knowledge of the officer executing the certificate on the Placement Agent's behalf based upon reasonable investigation. 

        (h)   In
the event that, on or before the Closing Date, the Placement Agent becomes aware of any false statement of a fact or representation by any subscriber in a
Subscription Agreement, the Placement Agent shall promptly inform the Company of such false statement of fact, unless at the time it becomes aware of such false statement the subscriber has
communicated to the Placement Agent or the Company his intent to correct such false statement prior to the Closing Date. 

        (i)    The
Placement Agent and each of its registered representatives participation in its solicitation efforts will comply with the prohibition against "general solicitations"
and "general advertising" imposed by Rule 502(c) of Regulation D. 

        (j)    The
Placement Agent shall inform the Company of each date on which it first receives any subscription from prospective investors in each particular state where the
Shares are offered and shall not offer the Shares for sale in any state in which the offer or sale requires prior notice or clearance from any state securities commission, bureau or agency thereon. 

        SECTION
5.    Sale and Delivery; Closing.    

        On
the basis of the representations and warranties herein contained and subject to the terms and conditions herein set forth, the Company agrees to engage the Placement Agent as its
agent to sell in a private offering the first 67 Units on a "best efforts, all or none" basis and the remaining 86 Units (which may be increased by the Placement Agent in its sole discretion to up to
80 Units) on a "best efforts basis". After the minimum of 67 Units is sold, one or more Closing(s) shall take place at such time and place as designated by the Placement Agent, subject to the prior or
contemporaneous completion of the merger by the parties. 

        In
addition to the Placement Agent Securities described in Section 3, the Placement Agent shall receive at each closing, a commission equal to 10% or $5,250 per Unit sold, a
non-accountable expense allowance equal to 3% or $1,575 per Unit and a financial consulting fee of one percent or $525 per Unit of the gross proceeds of the offering payable in advance at
each closing. In addition to the above, the Placement Agent shall be entitled to receive reimbursement for travel and travel related expenses on an accountable basis up to a maximum of $10,000, and
such reimbursement shall not be credited toward the Placement Agent's non-accountable expense allowance. The Placement Agent shall enter into a one year financial consulting agreement in
form substantially as annexed hereto. At the first closing date, the Company shall pay Morse & Morse, PLLC, the Placement Agent's counsel, the sum of $60,000 plus disbursements for its
representation of the Placement Agent in connection with this offering. 

        Certificates
evidencing the Shares in proper form (issued in such denominations and in such names as the Placement Agent may direct the Company or its transfer agent to issue), shall be
delivered by the Company to the Placement Agent or its clearing firm as instructed within five full business days after each Closing Date, it being understood that the directions from the Placement
Agent to the Company or its transfer agent shall be given prior to or at each Closing Date. 

        The
parties hereto each represent that as of the Closing Date the representations and warranties herein contained and the statements contained in all the certificates theretofore or
simultaneously delivered by any party to another, pursuant to this Agreement, shall in all material respects be true and correct. 

        Morse &
Morse, PLLC shall be responsible for preparing, filing and notifying the securities commissions, bureaus or agencies in the states of New York, Georgia, Texas and in each
state in which the Shares will be offered for sale to residents of such state for a fee of $750 per state. Morse & Morse, PLLC shall also be responsible for preparing a Blue Sky Memorandum
prior to the initial 

8

 

Closing
Date and updating such Memorandum prior to each Closing Date. However, Morse & Morse, PLLC shall not be responsible for these services outside the United States. An advance toward these
fees and filings of $10,000 shall be paid prior to the commencement date of the Offering. After using up its advance payment, Morse & Morse, PLLC shall receive $750 per state in addition to the
state filing fee for each new state that it files at the time the service is performed. In the event that the maximum offering is increased above 153 Units, an additional fee of $250 per share shall
be paid for any amended Form D filings made in the states to reflect the higher maximum offering. Legal fees for the services of Morse & Morse, PLLC regarding the Blue Sky Memorandum
shall be capped at $15,000 exclusive of disbursements and state filing fees. 

        The
Placement Agent agrees that promptly after the final Closing Date (or prior thereto), it will supply the Company with copies of all blue sky filings for states in which the Shares
have been qualified for sale or are exempt from qualification. 

        SECTION
6.    Offering of the Shares on Behalf of the Company    

        In
offering the Shares for sale, the Placement Agent shall offer them solely as an agent for the Company, and such offer shall be made upon the terms and subject to the conditions set
forth in this Agreement and the Memorandum. The Placement Agent shall commence making such offer as an agent for the Company as soon after the date of the Memorandum as it in its sole discretion may
deem advisable; provided, however, that if the Placement Agent does not commence such offering within ten (10) business days after the date of the Memorandum, it shall so advise the Company. 

        The
Placement Agent may offer and sell the Shares for the account of the Company through registered dealers selected by it (referred to heretofore and hereafter as "Selected Dealers")
and pursuant to a form of selling agreement, pursuant to which the Agent may allow such concession (out of its commission) as it may determine, within the limits set forth in the Memorandum, and all
such sales through Selected Dealers shall be made pursuant to an agreement between the Placement Agent and the Selected Dealers. All sales by Selected Dealers, however, shall be as agents for the
Company. The Placement Agent shall have the authority to employ any such Selected Dealers as agents for the Placement Agent, but in no event shall such Selected Dealers be agents or
sub-agents of the Company. The Company agrees to appoint no other agents in offering the Shares for sale, except as herein provided. 

        On
each sale or allotment by the Placement Agent of any of the Shares to Selected Dealers, the Placement Agent shall require the Selected Dealer selling any such Shares to agree to offer
and sell the same on the terms and conditions of offering set forth herein and in the Memorandum. 

        SECTION
7.    Covenants of the Company.    

        The
Company covenants with the Placement Agent as follows: 

        (a)   The
Company will notify the Placement Agent and/or its counsel immediately, and confirm the notice in writing, of the initiation by the Commission or any state
securities commission of any proceeding against the Company. 

        (b)   The
Company will give the Placement Agent notice of its intention to amend or supplement the Memorandum. 

        (c)   If
any event shall occur as a result of which it is necessary, in the opinion of both the Placement Agent and the Company, to amend or supplement the Memorandum in order
to make the Memorandum not misleading in the light of the circumstances existing at the time it is delivered to a purchaser, the Company will forthwith amend or supplement the Memorandum by preparing
and furnishing to the Placement Agent a reasonable number of copies of an amendment or amendments of, or a supplement or supplements to, the Memorandum (in form and substance satisfactory to the
Placement Agent), so that, as so amended or supplemented, the Memorandum 

9

 

will
not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing at the time it is
delivered to a purchaser, not misleading. 

        (d)   The
Company will endeavor, in cooperation with the Placement Agent, to qualify or perfect an exemption for the Units for offering and sale under the applicable
securities laws of such states and other jurisdictions of the United States as the Placement Agent and the Company agree to offer and sell the Units, and will maintain such qualifications in effect
for so long as may be required for the distribution of the Units. 

        (e)   The
Company will apply the net proceeds from the sale of the Units sold by it hereunder substantially as contemplated by the Memorandum. 

        (f)    The
Company will annually mail the investors of this Offering an annual report containing audited financial statements. 

        (g)   The
Company may in the future obtain the services of a bank or other financial institution to act as transfer agent for the Shares. 

        SECTION
8.    Payment of Expenses.    

        The
Company will pay all of its expenses incident to the performance of its obligations under this Agreement including but not limited to its legal and accounting fees and all expenses
in connection with the qualification of the Units under the securities laws of the various states requested by the Placement Agent. The Company shall also pay the costs of tombstone advertisements up
to a maximum of $10,000, it being understood that such advertisements will be placed after the completion of the offering. 

        SECTION
9.    Covenants of the Placement Agent    

        The
Placement Agent covenants and agrees that: 

        (a)   It
will not give any information or make any representation in connection with the offering of Shares which is not contained in the Memorandum or such other material as
may be provided by the Company. 

        (b)   It
will solicit purchasers of Shares only in the states in which it has been advised by Morse & Morse, PLLC or in its Blue Sky Memorandum, that such solicitation
can be made and such solicitations shall be made subject to any conditions imposed by applicable laws, rules or regulations. 

        (c)   In
making any offer of Shares, the Placement Agent agrees that it will comply with the provisions of the Act and the Exchange Act, as amended, and the securities laws of
each state, and that it and its authorized agents will offer to sell, or solicit offers to subscribe for or buy, the Shares only in those states and other jurisdictions in which such solicitations can
be made in accordance with the Blue Sky Memorandum prepared by Morse & Morse, PLLC or any supplement or addendum thereto and in which the Placement Agent is qualified to so act. The Placement
Agent and its respective authorized agents will not offer to sell, or solicit offers to subscribe for or buy, the Shares other than as provided for in such Blue Sky Memorandum or any such supplement
thereto. 

        SECTION
10.    Conditions of Placement Agent's Obligations.    

        The
obligations of the Placement Agent hereunder are subject to the performance by the Company of its obligations hereunder, to the following further condition that during the
subscription Period, no 

10

 

proceedings
shall be initiated or threatened by the Commission or any state securities commission or similar body against the Company and to the following additional conditions: 

        (a)   The
Placement Agent shall not have disclosed in writing to the Company that the Memorandum or any amendment or supplement thereto contains an untrue statement of a fact
which, in the opinion of counsel to the Placement Agent, is material, or omits to state a fact which, in the opinion of such counsel, is material and is required to be stated therein, or is necessary
to make the statements therein not misleading. 

        (b)   Between
the date hereof and each Closing Date, the Company shall not have sustained any loss on account of fire, explosion, flood, accident, calamity or other cause, of
such character as materially adversely affects its business or property, whether or not such loss is covered by insurance. 

        (c)   Between
the date hereof and each Closing Date, except as disclosed in or contemplated by the Memorandum, there shall be no material litigation instituted or threatened
against the Company and there shall be no proceeding instituted or threatened against the Company before or by any federal or state commission, regulatory body or administrative agency or other
governmental body, domestic or foreign, wherein an unfavorable ruling, decision or finding would materially adversely affect the business, franchises, licenses, permits, operations or financial
condition or income of the Company. 

        (d)   Except
as contemplated herein or as set forth in or contemplated by the Memorandum or supplement or amendment thereto, during the period subsequent to the date of the
Memorandum and prior to each Closing Date, (i) the Company (A) shall have conducted its business in the usual and ordinary manner as the same was being conducted on the date of the
filing of the Memorandum and (B) except in the ordinary course of its business, the Company shall not have incurred any liabilities or obligations (direct or contingent), or disposed of any of
its assets, or entered into any material transaction or suffered or experienced any substantially adverse change in its condition, financial or otherwise. 

        (e)   The
authorization of the Units, Memorandum and all corporate proceedings and other legal matters incident thereto and to this Agreement, shall be reasonably satisfactory
in all respects to counsel to the Placement Agent, who shall have received on each Closing Date such favorable opinion of the
Company's counsel and Uni-Pixel Displays' counsel with respect to the sufficiency of all corporate proceedings and other legal matters relating to this Agreement as the Placement Agent may
reasonably require and the Merger Parties shall have furnished such counsel such documents as they may have requested to enable them to pass upon the matters referred to herein. 

        (f)    The
Company shall have furnished to the Placement Agent a certificate of the President or Executive Vice President and the Treasurer of the Company, dated as of each
Closing Date, to the effect that: 

          (i)  The
representations and warranties of the Company in this Agreement are true and correct at and as of such Closing Date, and the Company has complied with all the
agreements and satisfied all the conditions on its part to be performed or satisfied at or prior to the Closing Date; 

         (ii)  The
respective officers have each carefully examined the Memorandum and any amendments and supplements thereto, and to the best of their knowledge the Memorandum and
any amendments and supplements thereto and all statements contained therein are true and correct, and neither the Memorandum nor any amendment or supplement thereto includes any untrue statement of a
material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, since the 

11

 

effective
date of the Memorandum, there has occurred no event required to be set forth in an amended or supplemented Memorandum which has not been so set forth. 

        (iii)  Except
as set forth in or contemplated by the Memorandum since the respective dates as of which or periods for which information is given in the Memorandum and prior
to the date of such certificate (A) there has not been any substantially adverse change, financial or otherwise, in the affairs or condition of the Company and (B) the Company has not
incurred any liabilities, direct or contingent, or entered into any transactions, otherwise than in the ordinary course of business. 

        (g)   The
Company shall have furnished to the Placement Agent at each Closing Date, such other certificates, additional to those specifically mentioned herein, as the
Placement Agent may have reasonably requested as to the accuracy and completeness of any statement in the Memorandum, or in any amendment or supplement thereto; of the representations and warranties
of the Company herein; as to the performance by the Company of its obligations hereunder, or as to the fulfillment of the conditions concurrent and precedent to its obligations hereunder, which are
required to be performed or fulfilled on or prior to each Closing Date. 

        All
the opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions hereof only if they are in
form and substance satisfactory to counsel to the Placement Agent, whose approval shall not be unreasonably withheld. The Placement Agent reserves the right to waive any of the conditions herein set
forth. If a condition specified in this Section shall not have been fulfilled in any material respect when and as required to be fulfilled, this Agreement may be terminated by the Placement Agent by
written notice to the Company at any time at or prior to the Closing, and such termination shall be without liability of any party to any other party except as provided in Section 6. 

        SECTION
11.    Conditions to the Obligations of the Company    

        The
obligations of the Company shall be subject to the continuing accuracy throughout the offering period of the representations, warranties, covenants and agreements contained in
Section 4 and 9 hereof, to the performance by the Placement Agent and any Selected Dealers of its and their obligations hereunder and to the following further terms and conditions; 

        (a)   It
is understood and agreed that neither the Placement Agent, any of its representatives, any Selected Dealer nor any of their representatives is authorized to make any
representations on behalf of the Company other than those contained in the Memorandum or to act as the agent or representative of the Company in any capacity other than as expressly set forth herein
and in the Selected Dealer Agreement and the Placement Agent shall deliver to the Company on the Closing Date a certificate executed by a responsible officer of its firm to the effect that the
Placement Agent and each Selected Dealer have complied with the foregoing to the best of the knowledge of the officer executing the certificate based upon reasonable investigation. 

        (b)   The
Company shall have received a certificate dated the Closing Date from the Placement Agent and executed by a duly authorized officer or agent thereof to the effect
that the representations and warranties of the Placement Agent contained in this Agreement are true and correct as if made on, or as of, the Closing Date and that the Placement Agent has performed all
conditions and covenants to be performed or satisfied on its part at or prior to the Closing Date. 

        SECTION
12.    Indemnification.    

        (a)   The
Company agrees to indemnify and hold harmless the Placement Agent and each person who controls the Placement Agent within the meaning of Section 15 of the
Act, with respect to any statement in or omission from the Memorandum or any amendment thereto, or the Memorandum (as amended or as supplemented, if amended or supplemented as aforesaid), against 

12

 

any
and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Act or any other statute or at common law and to reimburse persons
indemnified as above for any legal or other expense (including the cost of any investigation and preparation) incurred by them in connection with any litigation whether or not resulting in any
liability, but only insofar as such losses, claims, liabilities and litigation arise out of or are based upon any untrue statement or alleged untrue statement of a material fact required to be stated
therein or necessary to make the statement therein not misleading (all as of the date when the Memorandum or such supplement or amendment, as the case may be, is distributed to possible investors or
others) or omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they are made, not misleading;
provided, however, that the indemnity agreement contained in this Section 12(a) shall not apply to amounts paid in settlement of any such litigation if such settlement is effected without the
consent of the Company, nor shall it apply to the Placement Agent or any person controlling the Placement Agent in respect of any such losses, claims, damages, liabilities or actions arising out of,
or based upon, any such untrue statement or alleged untrue statement, or any such omission or alleged omission, if such statement or omission was made in reliance upon information peculiarly within
the knowledge of the Placement Agent and based upon a writing to the Company by the Placement Agent. 

        The
Placement Agent agrees within 15 days after the receipt by it of written notice of the commencement of any action against it or against any person controlling it as aforesaid,
in respect of which indemnity may be sought from the Company on account of the indemnity agreement contained in this Section 12(a), to notify the Company in writing of the commencement thereof.
The omission of the Placement Agent so to notify the Company of any such action shall relieve the Company from any liability which it may have to the Placement Agent or any person controlling it as
aforesaid on account of the indemnity agreement contained in this subsection. In case any such action shall be brought against the Placement Agent or any such controlling person and the Placement
Agent shall notify the Company of the commencement thereof, the indemnifying party should have the right to designate counsel as long as that counsel is reasonably acceptable to the indemnified party,
and the indemnified party should have the right to participate and observe (including with its own counsel) but at its own expense, not at the expense of the indemnifying party. The Company agrees to
notify the Placement Agent promptly of the commencement of any litigation or proceeding against it or any connection with the issue and sale of any of its securities and to furnish to the Placement
Agent, at its request, copies of all pleadings therein and permit the Placement Agent to be an observer therein and apprise the Placement Agent of all developments therein, all at the Company's
expense. 

        (b)   The
Placement Agent agrees, in the same manner and to the same extent as set forth in Section 12(a) of this Agreement, to indemnify and hold harmless the Company,
the directors of the Company, and each person, if any, who controls the Company within the meaning of Section 15 of the Act, with respect to any statement in or omission from the Memorandum or
any amendment thereto, or the Memorandum (as amended or as supplemented, if amended or supplemented as aforesaid), if such statement or omission was made in reliance upon information peculiarly within
its knowledge and
furnished in writing to the Company by the Placement Agent or on its behalf, specifically for use in connection with the preparation of the Memorandum or any such amendment thereof or supplement
thereto or by reason of improper selling practices. The Placement Agent shall not be liable for amounts paid in settlement of any such litigation if such settlement was effected without its consent.
This indemnity agreement is in addition to any other liability which the Placement Agent may otherwise have to the Company 

        In
case of commencement of any action, in respect of which indemnity may be sought from the Placement Agent on account of the indemnity agreement contained in this Section 12(b),
each 

13

 

person
agreed to be indemnified by the Placement Agent shall have the same obligation to notify the Placement Agent as the Placement Agent has toward the Company in Section 12(a) of this
Agreement, subject to the same loss of indemnity in the event such notice is not given, and the indemnifying party should have the right to designate counsel as long as that counsel is reasonably
acceptable to the indemnified party, and the indemnified party should have the right to participate and observe (including with its own counsel) but at its own expense, not at the expense of the
indemnifying party. The Placement Agent agrees to notify the Company promptly of the commencement of any litigation or proceeding against it or against any such controlling person, of which it may be
advised, in connection with the issue and sale of any of the securities of the Company, and to furnish to the Company at its request copies of all pleadings therein and permit the Company to be an
observer therein and apprise it of all developments therein, all at the Placement Agent's expense. 

        (c)   The
respective indemnity agreements between the Placement Agent and the Company contained in Sections 12(a) and (b) of this Agreement, and the representations and
warranties of the Company set forth in Section 3 or elsewhere in this Agreement, shall remain operative and in full force and effect, regardless of any investigation made by or on behalf of the
Placement Agent or by or on behalf of any controlling person of the Placement Agent or the Company or any such officer or director or any controlling person of the Company, and shall survive the
delivery of the Units, and any successor of the Company, and the Placement Agent, or of any controlling person of the Placement Agent, as the case may be, shall be entitled to the benefit of the
respective indemnity agreements. 

        (d)   In
order to provide for just and equitable contribution under the Act in any case in which (i) any person entitled to indemnification under this Section 12
makes claim for indemnification pursuant hereto but it is judicially determined (by the entry of a final judgment or decree by a court of competent jurisdiction and the expiration of time to appeal or
the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 12 provides for indemnification in such case, or
(ii) contribution under the Act may be required on the part of any such person in circumstances for which indemnification is provided under this Section 12, then, and in each such case,
the Company and the Placement Agent shall contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after any contribution from others) in such proportion so
that the Placement Agent is responsible for the proportion that the discounts and commissions appearing on the cover page of the Memorandum bears to the price appearing thereon, and the Company is
responsible for the remaining portion; provided, that, in any such case, no person guilty of a fraudulent misrepresentation or omission (within the meaning of Section 11(f) of the Act)
shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 

        Within
ten days after receipt by any party to this Agreement (or its representative) of notice of the commencement of any action, suit or proceeding, such party will, if a claim for
contribution in respect thereof is to be made against another party (the "contributing party"), notify the contributing party, in writing, of the commencement thereof, but the delay or omission so to
notify the contributing party will not relieve it from any liability which it may have to any other party other than for contribution hereunder unless such delay or omission materially prejudices the
rights of the contributing party in any subsidiary suit or proceeding. In case any such action, suit or proceeding is brought against any party, and such party so notifies a contributing party or his
or its representative of the commencement thereof within the aforesaid ten days, the contributing party will be entitled to participate therein with the notifying party and any other contributing
party similarly notified. Any such contributing party shall not be liable to any party seeking contribution on account of any settlement of any claim, action or proceeding effected by such party
seeking contribution without the written consent of such contributing party. The contribution provisions 

14

 

contained
in this Section 10 are in addition to any other rights or remedies which either party hereto may have with respect to the other or hereunder. 

        SECTION
13.    Termination of Agreement.    

        The
Placement Agent may also terminate this Agreement, by notice to the Company, at any time (i) if there has been, since the respective dates as of which information is given in
the Memorandum, any material adverse change in the condition, financial or otherwise, of the Company, or in the earnings, affairs or business prospects of the Company, whether or not arising in the
ordinary course of business not disclosed in or contemplated by the Memorandum; (ii) if there has occurred any outbreak of hostilities or other calamity or crisis or any other market conditions
of any kind whatsoever, the effect of which on the financial markets of the United States, or on the marketability of the Units, is such as to make it, in the Placement Agent's sole judgment,
impracticable to market the Units or enforce contracts for the sale of the Units; (iii) the Company shall fail to comply with all material terms of this Agreement; or (iv) if trading
generally on either the American Stock Exchange or the New York Stock Exchange has been suspended, or minimum or maximum prices for trading have been fixed, or maximum ranges for prices for securities
have been required, by either of said exchanges or by order of the Commission or any other governmental authority, or if a banking moratorium has been declared by either Federal or state authorities.
If the Placement Agent fails to sell the minimum of 67 Units by the last day of the Subscription Period, as extended, the Company may terminate this Agreement. If this Agreement is terminated pursuant
to this section, such termination shall be without liability of any character (including, but not limited to, loss of anticipated profits or consequential damages) of any party to any other party
hereto. 

        SECTION
14.    Notices    

        All
notices and other communications hereunder shall be in writing and shall be deemed to have been duly given only if in writing and if delivered or sent by registered mail or
transmitted by any standard form of telecommunication. Notices to the Placement Agent shall be directed to address specified on the first page of this letter, attention William Baquet, Chief Executive
Officer; copy to Morse & Morse, PLLC, 111 Great Neck Road, Great Neck, NY 11021, telecopier (516) 487-1452; notices to the Company shall be directed to it at the address
specified on the first page of this letter, attention Frank DeLape, President, with a copy to its counsel of record on this transaction, copy to Jim Tassone, Chief Financial Officer of
Uni-Pixel Displays, Inc., 8640 Airport Road, Suite T, Georgetown, TX 78628, with a copy to its counsel of record of this transaction. 

        SECTION
15.    Parties.    

        This
Agreement shall inure to the benefit of and be binding upon the Placement Agent and the Company and their respective successors. Nothing expressed or mentioned in this Agreement is
intended or shall be construed to give any person, firm or corporation, other than the parties hereto and their respective successors and the controlling persons referred to in Section 6 and
their heirs and legal representatives, any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision herein contained. This Agreement and all conditions and
provisions hereof are intended to be for the sole and exclusive benefit of the parties hereto and their legal respective successors, and said controlling persons and their heirs and legal
representatives, and for the benefit of no other person, firm or corporation. No purchaser of Units shall be deemed to be a successor by reason merely of such purchase. 

        SECTION
16.    Governing Law.    

        This
Agreement shall be governed by the laws of the State of New York applicable to agreements executed and to be performed wholly within such State. The parties agree that any dispute
shall be brought in any state or federal court located in the Southern or Eastern district of New York to the personal jurisdiction of which court, each party specifically consents. 

15

 

        SECTION
17.    Miscellaneous.    

        This
Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same instrument. If a
party signs this Agreement and transmits an electronic facsimile of the signature page to the other party, the party who receives the transmission may rely upon the electronic facsimile as a signed
original of this Agreement. This Agreement supersedes all other prior written agreements and oral understandings and shall constitute the entire agreement between the parties hereto. 

        This
Agreement is made solely for the benefit of the Placement Agent, the Company, their respective officers and directors and any controlling person referred to in Section 15 of
the Act, and their respective successors and assigns, and no other person shall acquire or have any right under or by virtue of this Agreement. The term "successor" or the term "successors and
assigns" as used in this Agreement shall not include any purchasers, as such, of any of the Shares. 

        If
the foregoing is in accordance with your understanding of our agreement, please sign and return to us a counterpart hereof, whereupon this instrument along with all counterparts will
become a binding agreement between the Placement Agent and us in accordance with its terms. 

	 	 	Very truly yours,
	

 	
 	

REAL-ESTATEFORLEASE.COM, INC.
	

 	
 	

By:	

/s/  FRANK DELAPE      
 Frank DeLape, Chairman of the Board

	Confirmed and Accepted as of

the date first above written.	 
	

FORDHAM FINANCIAL MANAGEMENT, INC.	

 
	

By:	
 	

/s/  WILLIAM BAQUET      
 William Baquet,
 Chief Executive Officer, President	

 

16

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Exhibit 10.3  

 
 

UNI-PIXEL DISPLAY, INC.
  LOCK-UP AGREEMENT    
    

September 28,
2004 

Uni-Pixel
Display, Inc.

8040 Airport Road, Suite T

Georgetown, TX 78628-3702

512-868-6609 

Gentlemen:

        Uni-Pixel
Displays, Inc., a Texas corporation (the "Company"), has advised me that it is seeking to raise a minimum of $3.5 million through a private equity
offering of shares of common stock or Series A Preferred Stock (the "Shares") of the parent company surviving after a merger of the Company with a public shell company or one of its
subsidiaries (the "Merger"). The Shares (either common stock or preferred stock) being offered will be sold in a private offering through Fordham Financial Management, Inc., as placement agent
(the "Managing Dealer"), on a "best efforts basis" solely to "accredited investors" as such term is defined under Rule 501 (a) of Regulation D, promulgated under the Securities
Act of 1933, as amended. The initial closing of the private offering of the Shares will occur on the date the Company consummates the sale of the Shares generating a minimum of
$3.5 million in gross proceeds to the Company and/or the public shell company on terms and conditions acceptable to the Company (the "Initial Closing"). "Common Stock" as used herein shall mean
all shares I own of common stock of the Company, including all shares of stock I received in the Merger in exchange for my shares of common stock of the Company (the "Merger Shares"). 

        In
order to induce the Managing Dealer to sell the Shares, I hereby agree as follows: 

	1.
	For
a period of eighteen (18) months from the Initial Closing, except as set forth below, I will not sell, assign, offer to sell or assign, contract to sell or assign, sell any
option, warrant or contract for the sale or assignment or purchase of, lend, enter into any swap or other arrangement that transfers to another any of the economic consequences of ownership of, or
otherwise dispose of (collectively, "Transfer"), any of my shares of Common Stock, without the written approval of the Managing Dealer.

	2.
	If
the Initial Closing does not occur by 5:00 p.m. Austin time on January 30, 2005, this Lock-Up Agreement shall automatically terminate and become VOID and
of no further force or effect.

	3.
	The
Managing Dealer may release this or any other lock-up agreement in whole or in part in the Managing Dealer's sole discretion.

	4.
	I
acknowledge that the Managing Dealer may require stock transfer legends be placed on the certificates for my shares of Common Stock or the imposition of stop transfer orders with the
transfer agent for the Common Stock to enforce the provisions of this Lock-Up Agreement. 

        Notwithstanding
the foregoing, nothing contained herein will be deemed to restrict or prohibit the Transfer of my shares of Common Stock (i) as a bona fide gift, provided the
recipient thereof agrees in writing to be bound by the terms hereof or (ii) as a distribution to my immediate family members, 

1

 

partners,
retired partners or the estates of such partners or retired partners or shareholders of the undersigned, provided that the distributees thereof agree in writing to be bound by the terms
hereof. 

	 	 	Very truly yours,
	

 	
 	

	 	 	(Signature)
                                         
         (Date)
	

 	
 	

	 	 	(Print Name)
	

 	
 	

	 	 	(Number of shares of Common Stock)

2

 
UNI-PIXEL DISPLAY, INC.

LOCK-UP AGREEMENT  

September 28,
2004 

Uni-Pixel
Display, Inc.

8040 Airport Road, Suite T

Georgetown, TX 78628-3702

512-868-6609 

Gentlemen: 

        Uni-Pixel
Displays, Inc., a Texas corporation (the "Company"), has advised me that it is seeking to raise a minimum of $3.5 million through a private equity
offering of shares of common stock or Series A Preferred Stock (the "Shares") of the parent company surviving after a merger of the Company with a public shell company or one of its
subsidiaries (the "Merger"). The Shares (either common stock or preferred stock) being offered will be sold in a private offering through Fordham Financial Management, Inc., as placement agent
(the "Managing Dealer"), on a "best efforts basis" solely to "accredited investors" as such term is defined under Rule 501 (a) of Regulation D, promulgated under the Securities
Act of 1933, as amended. The initial closing of the private offering of the Shares will occur on the date the Company consummates the sale of the Shares generating a minimum of $3.5 million in
gross proceeds to the Company and/or the public shell company on terms and conditions acceptable to the Company (the "Initial Closing"). "Common Stock" as used herein shall mean all shares I own of
common stock of the Company, including all shares of stock I received in the Merger in exchange for my shares of common stock of the Company (the "Merger Shares"). 

        In
order to induce the Managing Dealer to sell the Shares, I hereby agree as follows: 

	1.
	For
a period of two (2) years from the Initial Closing, except as set forth below, I will not sell, assign, offer to sell or assign, contract to sell or assign, sell any option,
warrant or contract for the sale or assignment or purchase of, lend, enter into any swap or other arrangement that transfers to another any of the economic consequences of ownership of, or otherwise
dispose of (collectively, "Transfer"), any of my shares of Common Stock, without the written approval of the Managing Dealer.

	2.
	If
the Initial Closing does not occur by 5:00 p.m. Austin time on January 0, 2005, this Lock-Up Agreement shall automatically terminate and become VOID and of no
further force or effect.

	3.
	The
Managing Dealer may release this or any other lock-up agreement in whole or in part in the Managing Dealer's sole discretion.

	4.
	I
acknowledge that the Managing Dealer may require stock transfer legends be placed on the certificates for my shares of Common Stock or the imposition of stop transfer orders with the
transfer agent for the Common Stock to enforce the provisions of this Lock-Up Agreement. 

        Notwithstanding
the foregoing, nothing contained herein will be deemed to restrict or prohibit the Transfer of my shares of Common Stock (i) as a bona fide gift, provided the
recipient thereof agrees in writing to be bound by the terms hereof or (ii) as a distribution to my immediate family members, 

3

 

partners,
retired partners or the estates of such partners or retired partners or shareholders of the undersigned, provided that the distributees thereof agree in writing to be bound by the terms
hereof. 

	 	 	Very truly yours,
	

 	
 	

	 	 	(Signature)
                                         
         (Date)
	

 	
 	

	 	 	(Print Name)
	

 	
 	

	 	 	(Number of shares of Common Stock)

4

 
UNI-PIXEL DISPLAY, INC.

LOCK-UP AGREEMENT  

September 28,
2004 

Uni-Pixel
Display, Inc.

8040 Airport Road, Suite T

Georgetown, TX 78628-3702

512-868-6609 

Gentlemen: 

        Uni-Pixel
Displays, Inc., a Texas corporation (the "Company"), has advised me that it is seeking to raise a minimum of $3.5 million through a private equity
offering of shares of common stock or Series A Preferred Stock (the "Shares") of the parent company surviving after a merger of the Company with a public shell company or one of its
subsidiaries (the "Merger"). The Shares (either common stock or preferred stock) being offered will be sold in a private offering through Fordham Financial Management, Inc., as placement agent
(the "Managing Dealer"), on a "best efforts basis" solely to "accredited investors" as such term is defined under Rule 501 (a) of Regulation D, promulgated under the Securities
Act of 1933, as amended. The initial closing of the private offering of the Shares will occur on the date the Company consummates the sale of the Shares generating a minimum of $3.5 million in
gross proceeds to the Company and/or the public shell company on terms and conditions acceptable to the Company (the "Initial Closing"). "Common Stock" as used herein shall mean all shares I own of
common stock of the Company, including all shares of stock I received in the Merger in exchange for my shares of common stock of the Company (the "Merger Shares"). 

        In
order to induce the Managing Dealer to sell the Shares, I hereby agree as follows: 

	1.
	For
a period of three (3) years from the Initial Closing, except as set forth below, I will not sell, assign, offer to sell or assign, contract to sell or assign, sell any
option, warrant or contract for the sale or assignment or purchase of, lend, enter into any swap or other arrangement that transfers to another any of the economic consequences of ownership of, or
otherwise dispose of (collectively, "Transfer"), any of my shares of Common Stock, without the written approval of the Managing Dealer.

	2.
	If
the Initial Closing does not occur by 5:00 p.m. Austin time on January 30, 2005, this Lock-Up Agreement shall automatically terminate and become VOID and
of no further force or effect.

	3.
	The
Managing Dealer may release this or any other lock-up agreement in whole or in part in the Managing Dealer's sole discretion.

	4.
	I
acknowledge that the Managing Dealer may require stock transfer legends be placed on the certificates for my shares of Common Stock or the imposition of stop transfer orders with the
transfer agent for the Common Stock to enforce the provisions of this Lock-Up Agreement. 

        Notwithstanding
the foregoing, nothing contained herein will be deemed to restrict or prohibit the Transfer of my shares of Common Stock (i) as a bona fide gift, provided the
recipient thereof agrees in writing to be bound by the terms hereof or (ii) as a distribution to my immediate family members, 

5

 

partners,
retired partners or the estates of such partners or retired partners or shareholders of the undersigned, provided that the distributees thereof agree in writing to be bound by the terms
hereof. 

	 	 	Very truly yours,
	

 	
 	

	 	 	(Signature)
                                         
         (Date)
	

 	
 	

	 	 	(Print Name)
	

 	
 	

	 	 	(Number of shares of Common Stock)

6

QuickLinks

UNI-PIXEL DISPLAY, INC. LOCK-UP AGREEMENT

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