Document:

Unassociated Document

    EXHIBIT
10.38

    

    July 8,
2009

    

    Dot VN,
Inc.

    9449
Balboa Avenue, Suite 114

    San
Diego, California 92123

    

    LOCK-UP
AGREEMENT

    

    Ladies
and Gentlemen:

    

    As a holder (a “Holder”) of common
stock, par value $0.001 per share (the “Common Stock”) of Dot VN, Inc., a
Delaware corporation (the “Company”), and consistent with the requirements of
Section 16 of the Securities Exchange Act of 1934, for good and valuable
consideration, the receipt and sufficiency of which are acknowledged, the
undersigned agrees that the undersigned will not offer, sell, contract to sell,
grant an option to purchase, or otherwise dispose of any shares of Common Stock
owned, acquirable or vested as of the date of this Lock-up Agreement until July
8, 2010.

    

    Subject to the terms and conditions
hereof, the undersigned authorizes the Company to cause its transfer agent to
decline to transfer and/or to note stop transfer restrictions on the transfer
books and records of the Company with respect to any shares of Common Stock and
any securities convertible into, exercisable, or exchangeable for Common Stock
for which the undersigned is the record holder and, in the case of any such
share or securities for which the undersigned is the beneficial but not the
record holder, agrees to cause the record holder to cause the transfer agent to
decline to transfer and/or to note stop transfer restrictions on such books and
records with respect to such shares or securities.

    

    The undersigned hereby represents and
warrants that the undersigned has full power and authority to enter into the
agreements set forth herein, and that, upon request, the undersigned will
execute any additional documents necessary in connection with enforcement
hereof.

    

    This Lock-Up Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware
without giving effect to its conflicts of laws principles.

    

    This Lock-Up Agreement may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which counterparts taken together shall constitute but
one and the same instrument.  This Lock-Up Agreement may be executed
by facsimile signatures.

    

    Very
truly yours,

    

    

    /s/ Lee Johnson            

    Name:   Lee
Johnson

    

    

    

    Accepted,
Acknowledged and Agreed to by:

    Dot VN,
Inc.

    

    

    By:      /s/ Louis P. Huynh                

    Name:   Louis
P. Huynh

    Title:   Corporate
Secretary and DirectorUnassociated Document

    EXHIBIT
10.39

    

    July 8,
2009

    

    Dot VN,
Inc.

    9449
Balboa Avenue, Suite 114

    San
Diego, California 92123

    

    LOCK-UP
AGREEMENT

    

    Ladies
and Gentlemen:

    

    As a holder (a “Holder”) of common
stock, par value $0.001 per share (the “Common Stock”) of Dot VN, Inc., a
Delaware corporation (the “Company”), and consistent with the requirements
of Section 16 of the Securities Exchange Act of 1934, for good and valuable
consideration, the receipt and sufficiency of which are acknowledged, the
undersigned agrees that the undersigned will not offer, sell, contract to sell,
grant an option to purchase, or otherwise dispose of any shares of Common Stock
owned, acquirable or vested as of the date of this Lock-up Agreement until July
8, 2010.

    

    Subject to the terms and conditions
hereof, the undersigned authorizes the Company to cause its transfer agent to
decline to transfer and/or to note stop transfer restrictions on the transfer
books and records of the Company with respect to any shares of Common Stock and
any securities convertible into, exercisable, or exchangeable for Common Stock
for which the undersigned is the record holder and, in the case of any such
share or securities for which the undersigned is the beneficial but not the
record holder, agrees to cause the record holder to cause the transfer agent to
decline to transfer and/or to note stop transfer restrictions on such books and
records with respect to such shares or securities.

    

    The undersigned hereby represents and
warrants that the undersigned has full power and authority to enter into the
agreements set forth herein, and that, upon request, the undersigned will
execute any additional documents necessary in connection with enforcement
hereof.

    

    This Lock-Up Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware
without giving effect to its conflicts of laws principles.

    

    This Lock-Up Agreement may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which counterparts taken together shall constitute but
one and the same instrument.  This Lock-Up Agreement may be executed
by facsimile signatures.

    

    Very
truly yours,

    

    

    /s/ Thomas Johnson            

    Name:   Thomas
Johnson

    

    

    

    Accepted,
Acknowledged and Agreed to by:

    Dot VN,
Inc.

    

    

    By:      /s/ Louis P. Huynh            

    Name:   Louis
P. Huynh

    Title:   Corporate
Secretary and DirectorUnassociated Document

    EXHIBIT
10.40

    

    July 8,
2009

    

    Dot VN,
Inc.

    9449
Balboa Avenue, Suite 114

    San
Diego, California 92123

    

    LOCK-UP
AGREEMENT

    

    Ladies
and Gentlemen:

    

    As a holder (a “Holder”) of common
stock, par value $0.001 per share (the “Common Stock”) of Dot VN, Inc., a
Delaware corporation (the “Company”), and consistent with the requirements of
Section 16 of the Securities Exchange Act of 1934, for good and valuable
consideration, the receipt and sufficiency of which are acknowledged, the
undersigned agrees that the undersigned will not offer, sell, contract to sell,
grant an option to purchase, or otherwise dispose of any shares of Common Stock
owned, acquirable or vested as of the date of this Lock-up Agreement until July
8, 2010.

    

    Subject to the terms and conditions
hereof, the undersigned authorizes the Company to cause its transfer agent to
decline to transfer and/or to note stop transfer restrictions on the transfer
books and records of the Company with respect to any shares of Common Stock and
any securities convertible into, exercisable, or exchangeable for Common Stock
for which the undersigned is the record holder and, in the case of any such
share or securities for which the undersigned is the beneficial but not the
record holder, agrees to cause the record holder to cause the transfer agent to
decline to transfer and/or to note stop transfer restrictions on such books and
records with respect to such shares or securities.

    

    The undersigned hereby represents and
warrants that the undersigned has full power and authority to enter into the
agreements set forth herein, and that, upon request, the undersigned will
execute any additional documents necessary in connection with enforcement
hereof.

    

    This Lock-Up Agreement shall be
governed by and construed in accordance with the laws of the State of Delaware
without giving effect to its conflicts of laws principles.

    

    This Lock-Up Agreement may be executed
in any number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which counterparts taken together shall constitute but
one and the same instrument.  This Lock-Up Agreement may be executed
by facsimile signatures.

    

    Very
truly yours,

    

    

    /s/ Louis P. Huynh            

    Name:   Louis
P. Huynh

    

    

    

    Accepted,
Acknowledged and Agreed to by:

    Dot VN,
Inc.

    

    

    By:      /s/ Thomas Johnson                

    Name:   Thomas
Johnson

    Title:   Chief
Executive Officer and DirectorEXHIBIT
4.1

       

      
        
          
            	
                    THE WARRANT AND THE SECURITIES
      ISSUABLE UPON EXERCISE OF THIS WARRANT (COLLECTIVELY, THE “SECURITIES”)
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
      “SECURITIES ACT”), OR UNDER ANY STATE SECURITIES OR BLUE SKY LAWS (“BLUE
      SKY LAWS”).  NO TRANSFER, SALE, ASSIGNMENT, PLEDGE,
      HYPOTHECATION OR OTHER DISPOSITION OF THIS WARRANT OR THE SECURITIES OR
      ANY INTEREST THEREIN MAY BE MADE EXCEPT (A) PURSUANT TO AN EFFECTIVE
      REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND ANY APPLICABLE BLUE
      SKY LAWS OR (B) IF THE CORPORATION HAS BEEN FURNISHED WITH BOTH AN OPINION
      OF COUNSEL FOR THE HOLDER, WHICH OPINION AND COUNSEL SHALL BE SATISFACTORY
      TO THE CORPORATION, TO THE EFFECT THAT NO REGISTRATION IS REQUIRED BECAUSE
      OF THE AVAILABILITY OF AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
      ACT AND APPLICABLE BLUE SKY LAWS, AND ASSURANCES THAT THE TRANSFER, SALE,
      ASSIGNMENT, PLEDGE, HYPOTHECATION OR OTHER DISPOSITION WILL BE MADE ONLY
      IN COMPLIANCE WITH THE CONDITIONS OF ANY SUCH REGISTRATION OR
      EXEMPTION.

                  

          

        

      

      

      

      

      WARRANT
TO PURCHASE SHARES OF COMMON STOCK

      OF

      WITS
BASIN PRECIOUS MINERALS INC.

       

      

      
        	
                Warrant
      No.:  HU3

              	
                Date:  July
      1, 2009

              

      

       

      
        This
certifies that, for value received, Hawk Uranium Inc., or its successors or
assigns (collectively, the “Holder”), is entitled to purchase from Wits Basin
Precious Minerals Inc. (the “Corporation”), One Hundred Fifty Thousand
(150,000) fully paid and nonassessable shares (the “Shares”) of the
Corporation’s common stock, par value $.01 per share (the “Common Stock”), at an
exercise price of Fifteen Cents US ($0.15) per Share (the “Exercise Price”),
subject to adjustment as herein provided.  This Warrant may be
exercised by Holder at any time from and after the date hereof until the date
five years from the date hereof, at which time all of Holder’s rights hereunder
shall expire.

         

        This
Warrant is subject to the following provisions, terms and
conditions:

         

        1. Exercise of
Warrant

        

        (a)           Exercise
for Cash. The
rights represented by this Warrant may be exercised by the Holder, in whole or
in part (but not as to a fractional share of Common Stock), by the surrender of
this Warrant (properly endorsed, if required, at the Corporation’s principal
office in Minneapolis, Minnesota, or such other office or agency of the
Corporation as the Corporation may designate by notice in writing to the Holder
at the address of such Holder appearing on the books of the Corporation at any
time within the period above named), and upon payment to it by cash, certified
check or bank draft, electronic wire transfer or pursuant to the
cashless-exercise provision of Section 1.(b) of the purchase price for such
Shares.  The Corporation agrees that the Shares so purchased shall
have and are deemed to be issued to the Holder as the record owner of such
Shares as of the close of business on the date on which this Warrant shall have
been surrendered and payment made for such Shares as aforesaid. Certificates for
the Shares of Common Stock so purchased shall be delivered to the Holder within
a reasonable time, not exceeding 30 days, after the rights represented by this
Warrant shall have been so exercised, and provided that it is prior to the
Termination Date, a new Warrant representing the number of Shares, if any, with
respect to which this Warrant shall not then have been exercised shall also be
delivered to the Holder within such time.  The Corporation may require
that any such new Warrant or any certificate for Shares purchased upon the
exercise hereof bear a legend substantially similar to that which is contained
on the face of this Warrant.

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

        
 

        (b)           Cashless
Exercise.  Upon receipt of a notice of cashless exercise, the
Corporation shall deliver to the Holder (without payment by the Holder of any
exercise price) that number of Shares that is equal to the quotient obtained by
dividing (x) the value of the Warrant on the date that the Warrant shall have
been surrendered (determined by subtracting the aggregate exercise price for the
Shares in effect on the Exercise Date from the aggregate Fair Market Value
(hereinafter defined) for the Shares) by (y) the Fair Market Value of one share
of Common Stock.  A notice of “cashless exercise” shall state the
number of Shares as to which the Warrant is being exercised.  “Fair
Market Value” for purposes of this Section (b) shall mean the average of the
Common Stock closing prices reported by the principal exchange on which the
Common Stock is traded, for the ten (10) business days immediately preceding the
Exercise Date or, in the event no public market shall exist for the Common Stock
at the time of such cashless exercise, Fair Market Value shall mean the fair
market value of the Common Stock as the same shall be determined in the good
faith discretion of the Board of Directors, after full consideration of all
factors then deemed relevant by such Board in establishing such value, including
by way of illustration and not limitation, the per share purchase price of
Common Stock or per security convertible into one share of Common Stock of the
most recent sale of shares of Common Stock or securities convertible into Common
Stock by the Corporation after the date hereof all as evidenced by the vote of a
majority of the directors then in office.

        

        2. Transferability

         

        .  This
Warrant is issued upon the following terms, to which Holder consents and
agrees:

         

        (a) Until
this Warrant is transferred on the books of the Corporation, the Corporation
will treat the Holder of this Warrant, registered as such on the books of the
Corporation, as the absolute owner hereof for all purposes without effect given
to any notice to the contrary.

         

        (b) This
Warrant may not be exercised, and this Warrant and the Shares underlying this
Warrant shall not be transferable, except in compliance with all applicable
state and federal securities laws, regulations and orders, and with all other
applicable laws, regulations and orders.

         

        (c) The
Warrant may not be transferred, and the Shares issuable upon exercise of this
Warrant, may not be transferred without the Holder obtaining an opinion of
counsel, which opinion and counsel are satisfactory to the Corporation, stating
that the proposed transaction will not result in a prohibited transaction under
the Securities Act and applicable Blue Sky Laws.  By accepting this
Warrant, the Holder agrees to act in accordance with any conditions imposed on
such transfer by any such opinion of counsel.

         

        (d) Neither
the issuance of this Warrant nor the issuance of the Shares issuable upon
exercise of this Warrant have been registered under the Securities
Act.

         

        3. Certain Covenants of the
Corporation

         

        .  The
Corporation covenants and agrees that all Shares which may be issued upon the
exercise of the rights represented by this Warrant, upon issuance and full
payment for the Shares so purchased, will be duly authorized and issued, fully
paid and nonassessable and free from all taxes, liens and charges with respect
to the issue hereof, except those that may be created by or imposed upon the
Holder or its property.  The Corporation covenants and agrees that
during the period within which the rights represented by this Warrant may be
exercised, the Corporation will at all times have authorized and available, free
of preemptive or other rights, for the purpose of issue upon exercise of the
purchase rights evidenced by this Warrant, a sufficient number of shares of its
Common Stock to provide for the full exercise of the rights represented by this
Warrant.

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        4. Adjustment of Exercise Price
and Number of Shares

         

        .  The
Exercise Price and number of Shares are subject to the following
adjustments:

         

        (a) Stock Dividend, Stock Split
or Stock Combination.   If (i) any dividends on any class
of the Corporation’s capital stock payable in Common Stock or securities
convertible into or exercisable for Common Stock (collectively, “Common Stock
Equivalents”) shall be paid by the Corporation, (ii) the Corporation shall
divide its then-outstanding shares of Common Stock into a greater number of
shares, or (iii) the Corporation shall combine its outstanding shares of Common
Stock, by reclassification or otherwise, then, in any such event, the Exercise
Price in effect immediately prior to such event shall (until adjusted again
pursuant hereto) be adjusted immediately after such event to a price (calculated
to the nearest full cent) equal to the quotient of (x) the number of shares of
Common Stock outstanding immediately prior to such event, multiplied by the
Exercise Price in effect immediately prior to such event, divided by (y) the
total number of shares of Common Stock outstanding immediately after such
event.  No adjustment of the Exercise Price shall be made if the
amount of such adjustment shall be less than $.05 per Share; but any such
adjustment not required then to be made shall be carried forward and shall be
made at the time and together with the any subsequent adjustment(s) which,
together with any adjustment(s) so carried forward, shall amount to not less
than $.05 per Share.

         

        (b) Number of Shares Issuable on
Exercise of Warrants.  Upon each adjustment of the Exercise
Price pursuant to this Section, the Holder shall thereafter (until another such
adjustment) be entitled to purchase, at the adjusted Exercise Price, the number
of Shares, calculated to the nearest full Share, equal to the quotient of (i)
the product of (A) the number of Shares issuable under this Warrant (as then
adjusted pursuant hereto prior to the current adjustment), multiplied by (B) the
Exercise Price in effect prior to such adjustment, divided by (ii) the adjusted
Exercise Price.

         

        (c) Notice of
Adjustment.  Upon any adjustment of the Exercise Price and any
increase or decrease in the number of Shares of Common Stock issuable upon the
exercise of the Warrant, then, and in each such case, the Corporation shall
within 30 days thereafter give written notice thereof, by first-class mail,
postage prepaid, addressed to each Holder as shown on the books of the
Corporation.  Any such notice shall state the adjusted Exercise Price
and adjusted number of Shares issuable upon the exercise of the Warrant, and
shall set forth in reasonable detail the methods of calculation of such
adjustments and the facts upon which such calculations were based.

         

        (d) Effect of Reorganization,
Reclassification or Merger.  If at any time while this Warrant
is outstanding there should be (i) any reorganization of the Corporation’s
capital stock (other than splits or combinations of Common Stock contemplated by
and provided for in Section 4(a)), (ii) any consolidation or merger of the
Corporation with another corporation, limited liability Corporation, partnership
or other business entity, or any sale, conveyance, lease or other transfer by
the Corporation of all or substantially all of its property to any other
corporation, limited liability Corporation, partnership or other business
entity, which is effected in such a manner that the holders of Common Stock
shall be entitled to receive cash, stock, securities or assets with respect to
or in exchange for Common Stock, or (iii) any dividend or any other distribution
upon any class of the Corporation’s capital stock payable in capital stock of a
different class, other securities of the Corporation, or other Corporation
property (other than cash), then the Corporation shall use its best efforts to
ensure that, as a part of such transaction, lawful provision shall be made so
that Holder shall have the right thereafter to receive, upon the exercise
hereof, the number of shares of stock or other securities or property of the
Corporation or of the successor entity (or, as applicable, a parent corporation
of such successor entity) resulting from a consolidation or merger, or of the
entity to which the property of the Corporation has been sold, conveyed, leased
or otherwise transferred, as the case may be, which the Holder would have been
entitled to receive upon such capital reorganization, reclassification of
capital stock, consolidation, merger, sale, conveyance, lease or other transfer,
if this Warrant had been exercised immediately prior to such capital
reorganization, reclassification of capital stock, consolidation, merger, sale,
conveyance, lease or other transfer.  In any such case, appropriate
adjustments (as determined by the Corporation’s board of directors) shall be
made in the application of the provisions of this Warrant to the end that the
provisions set forth herein shall thereafter be applicable, as near as
reasonably may be, in relation to any shares or other property thereafter
deliverable upon the exercise of the Warrant as if the Warrant had been
exercised immediately prior to such capital reorganization, reclassification of
capital stock, such consolidation, merger, sale, conveyance, lease or other
transfer and the Holder had carried out the terms of the exchange as provided
for by such capital reorganization, consolidation or merger.

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

         

        5. Piggyback Registration
Rights. If at any time within two (2) years after complete exercise of
this Warrant the Corporation proposes to register under the 1933 Act (except by
a Form S-4 or Form S-8 Registration Statement or any successor forms thereto) or
qualify for a public distribution under Section 3(b) of the 1933 Act, any of its
securities, it will notify the Holder hereof at least twenty (20) days prior to
each such filing and will use its best efforts to include in the Registration
Statement (to the extent permitted by applicable regulation) the Shares
purchased or purchasable by the Holder upon the exercise of the Warrant to the
extent requested by the Holder hereof within ten (10) days after receipt of
notice of such filing (which request shall specify the interest in this Warrant
or the Shares intended to be sold or disposed of by such Holder and describe the
nature of any proposed sale or other disposition thereof). The Holder of this
Warrant agrees to cooperate with the Corporation in the preparation and filing
of any Registration Statement, and in the furnishing of information concerning
the Holder for inclusion therein, or in any efforts by the Corporation to
establish that the proposed sale is exempt under the 1933 Act as to any proposed
distribution.

         

        6. No Rights as
Shareholder

         

        .  This
Warrant shall not entitle the Holder hereof to any voting rights or other rights
as a shareholder of the Corporation.

         

        7. Loss or
Mutilation

         

        .  Upon
receipt by the Corporation from Holder of evidence reasonably satisfactory to it
of the ownership of and the loss, theft, destruction or mutilation of this
Warrant and indemnity reasonably satisfactory to the Corporation, and in case of
mutilation upon surrender and cancellation hereof, the Corporation will execute
and deliver in lieu hereof a new Warrant of like tenor to Holder; provided, however, in the
case of mutilation no indemnity shall be required if this Warrant in
identifiable form is surrendered to the Corporation for
cancellation.

         

        8. Governing
Law

         

        .  This
Warrant shall be governed by and construed in accordance with the laws of the
State of Minnesota without regard to its conflicts-of-law
provisions.

         

        9. Amendments and
Waivers

         

        .  The
provisions of this Warrant may not be amended, modified or supplemented, and
waiver or consents to departures from the provisions hereof may not be given,
unless the Corporation agrees in writing and has obtained the written consent of
the Holder.

         

        10. Successors and
Assigns

         

        .  All
the terms and conditions of this Warrant shall be binding upon and inure to the
benefit of the permitted successors and assigns of the Corporation and
Holder.

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

         

        11. Headings and
References

         

        .  The
headings of this Warrant are for convenience only and shall not affect the
interpretation of this Warrant.  Unless the context indicates
otherwise, all references herein to Sections are references to Sections of this
Warrant.

         

        12. Notices

         

        .  All
notices or communications hereunder, except as herein otherwise specifically
provided, shall be in writing.  Notices sent to the Holder shall be
mailed, hand delivered or faxed and confirmed to the Holder at his, her or its
address set forth in the Corporation’s records.  Notices sent to the
Corporation shall be mailed, hand delivered or faxed and confirmed to Wits Basin
Precious Minerals Inc., c/o Mark D. Dacko, 900 IDS Center, 80 South Eight
Street, Minneapolis, MN 55402-8773, or to such other address as the Corporation
or the Holder shall notify the other as provided in this Section.

         

        13. Counterparts

         

        .  This
warrant may be executed by the Corporation and attested to in
counterparts.

         

        In
Witness Whereof, the Corporation has caused this Warrant to be signed by its
duly authorized officer on the date first set forth above.

         

      

       

      
        
          
            
              	 
      	
                      WITS
      BASIN PRECIOUS MINERALS INC.:

                    
	 
      	 
      	
                          
      

                    
	 
      	 
      	    
      
	 
      	
                      By:

                    	
                      /s/ Mark D. Dacko

                    
	 
      	 
      	
                      Mark
      D. Dacko

                    
	 
      	 
      	
                      Chief
      Financial Officer

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