Document:

Exhibit 10.2

 

Skillz Inc.

 

Lock-Up Agreement

 

March 17, 2021

 

Citigroup Global Markets Inc.

Goldman Sachs & Co. LLC

Jefferies LLC

 

c/o Citigroup Global Markets Inc.

388 Greenwich Street

New York, NY 10013

 

c/o Goldman Sachs & Co. LLC

200 West Street

New York, NY 10282

 

c/o Jefferies LLC

520 Madison Avenue

New York, NY 10022

 

		Re:	Skillz Inc. - Lock-Up Agreement

 

Ladies and Gentlemen:

 

The undersigned understands
that you, as representatives (the “Representatives”), propose to enter into an Underwriting Agreement (the “Underwriting
Agreement”) on behalf of the several Underwriters named in Schedule I to such agreement (collectively, the “Underwriters”),
with Skillz Inc., a Delaware corporation (the “Company”), providing for a public offering (the “Offering”)
of shares (the “Securities”) of the Class A common stock of the Company, par value $0.0001 per share (the “Class
A Common Stock”) pursuant to a Registration Statement on Form S-1 to be filed with the Securities and Exchange Commission
(the “SEC”).

 

In consideration of
the agreement by the Underwriters to offer and sell the Securities, and of other good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged, the undersigned agrees that, during the period beginning from the date hereof and
continuing to and excluding June 14, 2021 (such period, the “Lock-Up Period”), the undersigned shall not, and shall
not cause or direct any of its affiliates to, (i) offer, sell, contract to sell, pledge, grant any option to purchase, lend or
otherwise dispose of any shares of Class A Common Stock or Class B common stock, par value $0.0001 per share (the “Class
B Common Stock” and together with the Class A Common Stock, the “Common Stock”), of the Company, or any options
or warrants to purchase any shares of Common Stock of the Company, or any securities convertible into, exchangeable for or that
represent the right to receive shares of Common Stock of the Company (such options, warrants or other securities, collectively,
 “Derivative Instruments”), including without limitation any such shares or Derivative Instruments now owned or hereafter
acquired by the undersigned, (ii) engage in any hedging or other transaction or arrangement (including, without limitation, any
short sale or the purchase or sale of, or entry into, any put or call option, or combination thereof, forward, swap or any other
derivative transaction or instrument, however described or defined) which is designed to or which reasonably could be expected
to lead to or result in a sale, loan, pledge or other disposition (whether by the undersigned or someone other than the undersigned),
or transfer of any of the economic consequences of ownership, in whole or in part, directly or indirectly, of any shares of Common
Stock of the Company or Derivative Instruments, whether any such transaction or arrangement (or instrument provided for thereunder)
would be settled by delivery of Common Stock or other securities, in cash or otherwise (any such sale, loan, pledge or other disposition,
or transfer of economic consequences, a “Transfer”) or (iii) otherwise publicly announce any intention to engage in
or cause any action or activity described in clause (i) above or transaction or arrangement described in clause (ii) above. The
undersigned represents and warrants that the undersigned is not, and has not caused or directed any of its affiliates to be or
become, currently a party to any agreement or arrangement that provides for, is designed to or which reasonably could be expected
to lead to or result in any Transfer during the Lock-Up Period.

 

     

     

    

 

Notwithstanding the
foregoing, the undersigned may transfer the undersigned’s shares of Common Stock of the Company:

 

(i) as a bona fide gift or gifts,
or by will or intestacy upon the death of the undersigned; provided, that the donee or donees, beneficiary or beneficiaries, heir
or heirs or legal representatives thereof agree to be bound in writing by the restrictions set forth herein;

 

(ii) to any trust, partnership, limited
liability company or other entity for the direct or indirect benefit of the undersigned or the immediate family of the undersigned,
provided, that the trustee of the trust or the partnership or limited liability company or other entity agrees to be bound in writing
by the restrictions set forth herein, and provided further that any such transfer shall not involve a disposition for value;

 

(iii) to any immediate family member or
other dependent; provided, that the transferee agrees to be bound in writing by the restrictions set forth herein;

 

(iv) as a distribution to any of the undersigned’s
controlled affiliates, or to any wholly owned subsidiary, partners, members or stockholders of the undersigned, or to any investment
fund or other entity controlled or managed by or under common control or management with the undersigned; provided, that (A) the
transferee agrees to be bound in writing by the restrictions set forth herein and (B) any such transfer shall not involve a disposition
for value;

 

(v) to a nominee or custodian of a person
or entity to whom a disposition or transfer would be permissible under clauses (i) through (iv) above; provided, that the transferee
agrees to be bound in writing by the restrictions set forth herein;

 

(vi) pursuant to an order of a court or
regulatory agency, in each case of competent jurisdiction, or where necessary to comply with any regulations of a regulatory agency
of competent jurisdiction related to the undersigned’s ownership of the shares of Common Stock of the Company; provided that
any filing made under Section 16(a) of the Exchange Act pursuant to such transfer shall clearly indicate in the footnotes the circumstances
of the transfer;

 

(vii) to the Company as the result of a
vesting, settlement, conversion, exercise or exchange of any security convertible into or exercisable or exchangeable for shares
of Common Stock (including the conversion of shares of Class B Common Stock into Class A Common Stock) pursuant to any existing
employee benefit plans described in the Registration Statement, the Pricing Disclosure Package and the Prospectus (as defined in
the Underwriting Agreement), including shares of Common Stock surrendered or transferred to the Company in connection with a “cashless
exercise” or “net exercise” to cover tax withholding obligations of the undersigned in connection with such vesting,
settlement, conversion, exercise or exchange; provided, that any shares of Common Stock received upon such conversion, exercise
or exchange shall be subject to the restrictions set forth herein;

 

(viii) after completion of the Offering,
pursuant to a change of control (as defined below) of the Company that has been approved by the Company’s board of directors;
provided that in the event that the change of control is not completed, the Shares owned by the undersigned that are subject to
the restrictions contained in this Lock-Up Agreement shall remain so restricted in accordance with this Lock-Up Agreement;

 

(ix) to the Company in connection with
the conversion of shares of Class B Common Stock held by the undersigned into shares of Class A Common stock; provided, that any
shares of Class A Common Stock received by the undersigned as a result of such conversion shall be subject to the restrictions
set forth herein;

 

(x) that were acquired in open market transactions
following the date of the Offering; provided, that no such transfer is required to be reported in any public report or filing,
and further provided that the undersigned does not otherwise voluntarily effect such a report or filing;

 

(xi) pursuant to a trading plan that satisfies
all of the requirements of Rule 10b5-1(c)(1)(i)(B) under the Exchange Act (a “Plan”) that is existing as of the date
hereof and that was provided to the Representatives prior to the date hereof; provided that the undersigned shall not, without
the prior written consent of the Representatives, amend any such Plan to permit sales or transfers of additional shares during
the Lock-Up Period unless such transfer is otherwise permitted under the terms of this Lock-Up Agreement; provided further that
if the undersigned reports under Section 16(a) of the Exchange Act any sale or transfer pursuant to a Plan during the Lock-Up Period,
the undersigned shall cause such report to include a statement that such sale or transfer was effected pursuant to an Plan that
was in effect on the date that the undersigned executed this Lock-up Agreement;

 

     

     

    

 

(xii) in
connection with the sale of the undersigned’s shares of Common
Stock to the Underwriters pursuant to the Underwriting Agreement; or

 

(xiii) with the prior written consent of
the Representatives on behalf of the Underwriters;

 

provided that, in the case of each transfer
pursuant to clauses (i) through (v) and (vii) through (ix), (a) no public reports or filings (including filings under Section 16(a)
of the Exchange Act) reporting a reduction in beneficial ownership of Common Stock shall be required or voluntarily made during
the Lock-Up Period and (b) any filing made under Section 16(a) of the Exchange Act pursuant to such transfer shall clearly
indicate in the footnotes the circumstances of the transfer.

 

Furthermore, during
the Lock-Up Period, the undersigned may exercise any warrants to purchase shares of Common Stock of the Company, so long as the
shares of Common Stock received upon such exercise shall remain subject to the terms of this Lock-Up Agreement.

 

For purposes of this
Lock-Up Agreement, (i) “immediate family” shall mean any relationship by blood, marriage or adoption, not more remote
than first cousin and (ii) “change of control” shall mean the consummation of any bona fide third party tender offer,
merger, consolidation or other similar transaction the result of which is that any “person” (as defined in Section
13(d)(3) of the Exchange Act), or group of persons, becomes the beneficial owner (as defined in Rules 13d-3 and 13d-5 of the Exchange
Act) of more than 50% of the voting capital stock of the Company.

 

The undersigned now
has, and, except as contemplated by clause (i) through (xiii) above, for the duration of this Lock-Up Agreement will have, good
and marketable title to the undersigned’s shares of Common Stock of the Company, free and clear of all liens, encumbrances,
and claims whatsoever. The undersigned also agrees and consents to the entry of stop transfer instructions with the Company’s
transfer agent and registrar against the transfer of the undersigned’s shares of Common Stock of the Company except in compliance
with the foregoing restrictions.

 

Nothing in this Lock-Up
Agreement shall prevent the establishment by the undersigned of a Plan; provided, that it shall be a condition to the establishment
of any such Plan that no sales of Common Stock shall be made pursuant to such a Plan prior to the expiration of the Lock-Up Period.

 

The undersigned acknowledges
and agrees that none of the Underwriters has made any recommendation or provided any investment or other advice to the undersigned
with respect to this Lock-Up Agreement or the subject matter hereof, and the undersigned has consulted its own legal, accounting,
financial, regulatory, tax and other advisors with respect to this Lock-Up Agreement and the subject matter hereof to the extent
the undersigned has deemed appropriate.

 

The undersigned understands that the Company
and the Underwriters are relying upon this Lock-Up Agreement in proceeding toward consummation of the Offering. The undersigned
further understands that this Lock-Up Agreement is irrevocable and shall be binding upon the undersigned’s heirs, legal representatives,
successors, and assigns.

 

This Lock-Up Agreement
shall automatically terminate and be of no further force and effect upon the earlier to occur of: (i) the Company advising the
Underwriters in writing prior to the execution of the Underwriting Agreement that it does not intend to proceed with the Offering;
(ii) the termination of the Underwriting Agreement before the closing of the Offering; (iii) the registration statement for the
Offering is withdrawn; or (iv) May 30, 2021, if the Underwriting Agreement has not been executed by that date.

 

     

     

    

 

 

	 	Very truly yours,
	 	 	 
	 	 	 
	 	IF AN INDIVIDUAL:
	 	 	 
	 	 	 
	 	By:	 /s/ Andrew Paradise
	 	 	(duly authorized signature)
	 	 	 
	 	 	 
	 	Name:	 Andrew Paradise
	 	 	(please print full name)
	 	 	 
	 	 	 
	 	 	 
	 	IF AN ENTITY:
	 	 
	 	 
	 	 
	 	(please print complete name of entity)
	 	 	 
	 	 	 
	 	By:	 
	 	 	(duly authorized signature)
	 	 	 
	 	Name:	 
	 	 	(please print full name)
	 	 	 
	 	Title: 	 
	 	 	(please print full title)Exhibit 4.1

 

	 	NUMBER UNITS

U-
	 	 
	SEE REVERSE FOR CERTAIN

DEFINITIONS	CUSIP G53543 123

 

LCP
Acquisition Corp.

 

UNITS CONSISTING OF ONE CLASS A ORDINARY
SHARE AND ONE-THIRD OF ONE REDEEMABLE WARRANT, EACH WHOLE WARRANT ENTITLING THE HOLDER TO PURCHASE ONE CLASS A ORDINARY SHARE

 

	THIS CERTIFIES THAT	is the owner of	Units.

 

Each Unit (“Unit”)
consists of one (1) Class A Ordinary Share, par value $0.0001 per share (“Class A Ordinary Shares”),
of LCP Acquisition Corp., a Cayman Islands exempted company (the “Company”), and one-third (1/3) of
one redeemable warrant (the “Warrant”). Each whole Warrant entitles the holder to purchase one (1) Class
A Ordinary Share (subject to adjustment) for $11.50 per share (subject to adjustment). Only whole Warrants are exercisable. Each
Warrant will become exercisable on the later of (i) thirty (30) days after the Company’s completion of a merger, amalgamation,
share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more businesses
(each a “Business Combination”), and (ii) twelve (12) months from the closing of the Company’s
initial public offering, and will expire, unless exercised before 5:00 p.m., New York City Time, on the date that is five (5)
years after the date on which the Company completes its initial Business Combination, or earlier upon redemption or liquidation.
The Class A Ordinary Shares and Warrants comprising the Units represented by this certificate will begin separate trading
on                      ,
2021 unless Deutsche Bank Securities Inc. elects to allow separate trading earlier, subject to the Company’s filing of a
Current Report on Form 8-K with the Securities and Exchange Commission containing an audited balance sheet reflecting the Company’s
receipt of the gross proceeds of its initial public offering and issuing a press release announcing when separate trading will
begin. No fractional Warrants will be issued upon separation of the Units. The terms of the Warrants are governed by a Warrant
Agreement, dated as of                  ,
2021, between the Company and Continental Stock Transfer & Trust Company, as Warrant Agent, and are subject to the terms and
provisions contained therein, all of which terms and provisions the holder of this certificate consents to by acceptance hereof.
Copies of the Warrant Agreement are on file at the office of the Warrant Agent at One State Street, 30th Floor, New York, New
York 10004, and are available to any Warrant holder on written request and without cost.

 

Upon the consummation of the Business Combination,
the Units represented by this certificate will automatically separate into the Class A Ordinary Shares and Warrants comprising
such Units.

 

This certificate is not valid unless countersigned
by the Transfer Agent and registered by the Registrar of the Company.

 

This certificate shall be governed by and
construed in accordance with the laws of the State of New York.

 

Witness the facsimile signature of its duly
authorized officers.

 

	 	 	 
	[TITLE]	 	[TITLE]

 

     

     

    

 

LCP Acquisition Corp.

 

The Company will furnish without charge
to each unitholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional
or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations, or restrictions
of such preferences and/or rights.

 

The following abbreviations, when used in
the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

	TEN COM	— as tenants in common	UNIF GIFT MIN ACT —	________Custodian

________
	 	 	 	 
	TEN ENT	— as tenants by the entireties	 	(Cust)

(Minor)

under Uniform Gifts to Minors
	 	 	 	 
	JT TEN	— as joint tenants with right of survivorship and not as tenants in common	 	Act             
 (State)

 

Additional abbreviations may also be used though not in the
above list.

 

For value received, ______________ hereby sell, assign and
transfer unto ______________

 

	PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
	(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)
	 
	___ Units represented by the within Certificate, and does hereby irrevocably constitute and appoint
	 Attorney
to transfer the said Units on the register of members of the within named Company with full power of substitution in the premises.
	Dated:
                      
	 

 

     

     

    

 

	 	Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.
	 	 
	Signature(s) Guaranteed:
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).	 

 

In each case, as more fully described in the Company’s
final prospectus dated               , 2021, the holder(s)
of this certificate shall be entitled to receive a pro rata portion of certain funds held in the trust account established in connection
with its initial public offering only in the event that (i) the Company redeems the Class A Ordinary Shares sold in its initial
public offering and liquidates because it does not consummate an initial business combination by                     ,
2023, or by such later date approved by the Company’s shareholders in accordance with the Company’s amended and restated
memorandum and articles of association, (ii) the Company redeems the Class A Ordinary Shares sold in its initial public offering
in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles of association
(A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s
initial business combination or to redeem 100% of the Class A Ordinary Shares if it does not complete its initial business combination
by                     , 2023,
or by such later date approved by the Company’s shareholders in accordance with the Company’s amended and restated
memorandum and articles of association, or (B) with respect to any other provision relating to the holder(s)’(s) rights or
pre-initial business combination activity, or (iii) if the holder(s) seek(s) to redeem for cash his, her, its or their respective
Class A Ordinary Shares in connection with a tender offer (or proxy solicitation, solely in the event the Company seeks shareholder
approval of the proposed initial business combination) setting forth the details of a proposed initial business combination. In
no other circumstances shall the holder(s) have any right or interest of any kind to or in the trust account.

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