Document:

Exhibit
10.6

 

STANDSTILL
AGREEMENT

 

THIS
STANDSTILL AGREEMENT (this “Agreement”), is dated as of December 16, 2020, by and among BurgerFi International, Inc.
(f/k/a OPES Acquisition Corp.), a Delaware corporation (the “Purchaser”), Ophir Sternberg (the “Holder”),
and BurgerFi Holdings, LLC and Andrea Jane Acker Revocable Trust U/A dated April 25, 2008 (together, the “Members”).

 

Capitalized
terms used, but not otherwise defined herein, shall have the meanings ascribed to such terms in the Member Interest Purchase Agreement,
dated as of June 29, 2020 (the “Purchase Agreement”) by and among the Purchaser, Burger Fi International LLC, a Delaware
limited liability company (the “Company”), the Members, and BurgerFi Holdings, LLC, a Delaware limited liability company
(the “Members’ Representative”).

 

BACKGROUND

 

A.
Pursuant to the Purchase Agreement, the Holder and the Members agreed to enter into this Agreement, whereby the Members as a group,
and the Holder each agree to beneficially own no more than forty-nine percent (49%) of Purchaser Common Stock at any time before
or after the Closing of the Business Combination.

 

NOW,
THEREFORE, for and in consideration of the mutual covenants and agreements set forth herein, and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

AGREEMENT

 

1.
Standstill. 

 

(a)
The Holder, on behalf of himself and his Affiliates, as a group, and the Members, as a group, irrevocably agree that they will
not acquire through purchase in a private transaction or in the public market, by transfer or assignment, by gift or in any other
manner, directly or indirectly (with or without consideration), shares of Purchaser Common Stock (each an “Acquisition”),
to the extent that after giving effect to an Acquisition, the Holder or the Members (together with each of their respective Affiliates,
and any other Persons acting as a group together with the Holder or the Members or any of their respective Affiliates (such Persons,
“Attribution Parties”)), would beneficially own in excess of the Beneficial Ownership Limitation (as defined below). 

 

(b)
For purposes of the foregoing sentence, the number of shares of Purchaser Common Stock beneficially owned by the Holder or the
Members, their respective Affiliates and Attribution Parties shall include the number of shares of Purchaser Common Stock:

 

(i)
issuable upon exercise or conversion of securities convertible into, or exchangeable for, or representing the rights to receive,
Purchaser Common Stock;

 

(ii)
owned directly or indirectly or attributable to, or rights to acquire by, any spouse, ex-spouse, child, step-child, parent or
sibling of any such Person; and

 

(iii)
owned by any Person that has an agreement, understanding or arrangement, oral or written, (other than those certain Voting Agreements
entered into in connection with the Purchase Agreement) to vote their Purchaser Common Stock, including Purchaser Common Stock
owned or controlled by others, as directed by any such Person.

 

     

     

    

 

(c)
Beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated
thereunder. In addition, a determination as to any group status as contemplated above shall be determined in accordance with Section
13(d) of the Exchange Act and the rules and regulations promulgated thereunder.

 

(d)
The “Beneficial Ownership Limitation” shall be 49% of the number of shares of Purchaser Common Stock issued
and outstanding at the time of any contemplated Acquisition. In determining the number of issued and outstanding shares of Purchaser
Common Stock, the Holder and the Members must obtain from the Purchaser the most recent calculation of the issued and outstanding
shares of Purchaser Common Stock.

 

2.
Beneficial Ownership. Each of the Holder and the Members hereby represent and warrant that as of the date hereof, they
do not beneficially own, directly or through their respective nominees, any shares of Purchaser Common Stock, or any economic
interest in or derivative of such shares, other than the shares of Purchaser Common Stock specified on the signature page hereto.

 

3.
Exception. Notwithstanding anything to the contrary contained herein, the parties hereto, in their sole discretion, may
cooperate, coordinate, and collaborate with one another to vote their Purchaser Common Stock as they may mutually agree.

 

4.
Representations and Warranties. Each of the parties hereto, by their respective execution and delivery of this Agreement,
hereby represents and warrants to the other that (a) such party has the full right, capacity and authority to enter into, deliver
and perform its respective obligations under this Agreement, (b) this Agreement has been duly executed and delivered by such party
and is a binding and enforceable obligation of such party and, enforceable against such party in accordance with the terms of
this Agreement, and (c) the execution, delivery and performance of such party’s obligations under this Agreement will not
conflict with or breach the terms of any other agreement, contract, commitment or understanding to which such party is a party
or to which the assets or securities of such party are bound. Each of the Holder and the Members have independently evaluated
the merits of its decision to enter into and deliver this Agreement, and the Holder and the Members each confirm that it has not
relied on the advice of the Purchaser, Purchaser’s legal counsel, BurgerFi, BurgerFi’s legal counsel, or any other
person.

 

    2

     

    

 

5.
Notices. Any notices required or permitted to be sent hereunder shall be sent in writing, addressed as specified below,
and shall be deemed given: (a) if by hand or recognized courier service, by 4:00PM on a business day, addressee’s day and
time, on the date of delivery, and otherwise on the first business day after such delivery; (b) if by fax or email, on the date
that transmission is confirmed electronically, if by 4:00PM on a business day, addressee’s day and time, and otherwise on
the first business day after the date of such confirmation; or (c) five days after mailing by certified or registered mail, return
receipt requested. Notices shall be addressed to the respective parties as follows (excluding telephone numbers, which are for
convenience only), or to such other address as a party shall specify to the others in accordance with these notice provisions:

 

	 	(a)	If
    to the Holder, to:

  

LionHeart
Equities, LLC

4218 NE 2nd Avenue

Miami, Florida 33137

Attention: General Counsel

Email: notices@lheartcapital.com

  

	 	(b)	If
    to BurgerFi Holdings, LLC, to:

 

[●]

[●]

[●] 

Attention:
[●] 

Phone:
[●] 

Email:
[●]

 

	 	(c)	If
    to Andrea Jane Acker Revocable Trust U/A dated April 25, 2008, to:

 

[●]

[●]

[●]

Attention:
[●]

Phone:
[●]

Email:
[●]

 

	 	(b)	If
    to the Purchaser, to:

 

BurgerFi
International, Inc. (f/k/a OPES Acquisition Corp.)

4218
NE 2nd Ave.

Miami,
FL 33137

Attention:
General Counsel

Email:
notices@lheartcapital.com

 

or
to such other address as any party may have furnished to the others in writing in accordance herewith.

 

6.
Enumeration and Headings. The enumeration and headings contained in this Agreement are for convenience of reference only
and shall not control or affect the meaning or construction of any of the provisions of this Agreement.

 

7.
Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered
shall be deemed an original, but all of which shall together constitute one and the same agreement.

 

8.
Successors and Assigns. This Agreement and the terms, covenants, provisions and conditions hereof shall be binding upon,
and shall inure to the benefit of, the respective heirs, successors and assigns of the parties hereto. Each of the Holder and
the Members hereby acknowledges and agrees that this Agreement is entered into for the benefit of and is enforceable by the other
party and its successors and assigns.

 

9.
Severability. If any provision of this Agreement is held to be invalid or unenforceable for any reason, such provision
will be conformed to prevailing law rather than voided, if possible, in order to achieve the intent of the parties and, in any
event, the remaining provisions of this Agreement shall remain in full force and effect and shall be binding upon the parties
hereto.

 

    3

     

    

 

10.
Amendment. This Agreement may be amended or modified by written agreement executed by each of the parties hereto.

 

11.
Further Assurances. Each party shall do and perform, or cause to be done and performed, all such further acts and things,
and shall execute and deliver all such other agreements, certificates, instruments and documents, as any other party may reasonably
request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions
contemplated hereby.

 

12.
No Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to
express their mutual intent, and no rules of strict construction will be applied against any party.

 

13.
Dispute Resolution. Article XIII of the Purchase Agreement regarding mediation of disputes is incorporated by reference
herein to apply with full force to any disputes arising under this Agreement.

 

14.
Governing Law; Jurisdiction. The terms and provisions of this Agreement shall be construed in accordance with the laws
of the State of Florida. Any legal suit, action or proceeding arising out of or based upon this agreement, the other additional
agreements or the transactions contemplated hereby or thereby may be instituted in the Federal courts of the United States of
America or the courts of the State of Florida, in each case located in the City of Fort Lauderdale and County of Broward, and
each party irrevocably submits to the exclusive jurisdiction of such courts in any such suit, action or proceeding. the parties
irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or any proceeding in such courts
and irrevocably waive and agree not to plead or claim in any such court that any such suit, action or proceeding brought in any
such court has been brought in an inconvenient forum.

 

15.
Controlling Agreement. To the extent the terms of this Agreement (as amended, supplemented, restated or otherwise modified
from time to time) directly conflicts with provisions in the Purchase Agreement, the terms of this Agreement shall control.

  

[Signature
Page Follows]

 

    4

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Standstill Agreement to be duly executed by their respective authorized signatories
as of the date first indicated above.

 

	 	PURCHASER:
	 	 	 
	 	BurgerFi International, Inc. (f/k/a OPES Acquisition Corp.), a Delaware corporation
	 	 	 
	 	By:	/s/
    Ophir Sternberg
	 	Name:
    	Ophir
    Sternberg
	 	Title:
    	Executive
    Chairman

  

	 	HOLDER:
	 	 
	 	LH
    Equities, LLC
	 	 
	 	/s/
    Ophir Sternberg
	 	Name:
    Ophir Sternberg
	 	Title:
    Manager

  

	 	NUMBER
        OF Shares: 1,517,000

         

        MEMBERS:

        

        BurgerFi Holdings, LLC

	 	 	 
	 	By:	/s/
    Kevin Cooper
	 	Name:
    	Kevin
    Cooper
	 	Title:
    	Manager

	 	NUMBER
        OF Shares: 5,853,396

         

        Andrea
        Jane Acker Revocable Trust U/A dated April 25, 2008

	 	 	 
	 	By:	/s/
Andrea Acker
	 	Name:
    	Andrea
    Acker
	 	Title:
    	Trustee
	 	 	 
	 	NUMBER
    OF Shares: 650,377Exhibit 10.7

LOCK-UP AGREEMENT

 

THIS LOCK-UP AGREEMENT
(this “Agreement”) is dated as of December 16, 2020, by and between the undersigned (the “Holder”)
and BurgerFi International, Inc. (f/k/a Opes Acquisition Corp.), a Delaware corporation (“BurgerFi”).

 

Capitalized terms used,
but not otherwise defined herein, shall have the meanings ascribed to such terms in the Member Interest Purchase Agreement, dated
as of June 29, 2020 (the “Purchase Agreement”) by and among BurgerFi, Burger Fi International LLC, a Delaware
limited liability company (the “Company”), members of the Company (the “Members”), and BurgerFi
Holdings, LLC, a Delaware limited liability company (the “Members’ Representative”).

 

BACKGROUND

 

A.       Pursuant
to the Purchase Agreement, the Members agreed to lock-up their Closing Payment Shares (the “Shares”), after
the consummation of the Acquisition.

 

NOW, THEREFORE, for and
in consideration of the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

AGREEMENT

 

1. Lock-Up.

 

(a) During
the Lock-up Period (as defined below), the Holder irrevocably agrees that it, he or she will not offer, sell, contract to sell,
pledge or otherwise dispose of, directly or indirectly, any of the Shares, enter into a transaction that would have the same effect,
or enter into any swap, hedge or other arrangement that transfers, in whole or in part, any of the economic consequences of ownership
of the Shares, whether any of these transactions are to be settled by delivery of any Shares, or otherwise, publicly disclose the
intention to make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement, or
engage in any Short Sales (as defined below) with respect to any securities of BurgerFi.

 

(b) In
furtherance of the foregoing, during the Lock-up Period. BurgerFi will (i) place an irrevocable stop order on all the Shares, including
those which may be covered by a registration statement, and (ii) notify BurgerFi’s transfer agent in writing of the stop
order and the restrictions on the Shares under this Agreement and direct BurgerFi’s transfer agent not to process any attempts
by the Holder to resell or transfer any Shares, except in compliance with this Agreement.

 

(c) For
purposes hereof, “Short Sales” include, without limitation, all “short sales” as defined in Rule
200 promulgated under Regulation SHO under the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
and all types of direct and indirect stock pledges, forward sale contracts, options, puts, calls, swaps and similar arrangements
(including on a total return basis), and sales and other transactions through non-US broker dealers or foreign regulated brokers.

 

(d) The
“Lock-up Period” means the earlier of (i) six months after the Closing Date and (ii) if, subsequent to the Closing
Date, BurgerFi consummates a liquidation, merger, stock exchange or other similar transaction which results in all of BurgerFi’s
stockholders having the right to exchange their shares of common stock, par value $0.001 per share of BurgerFi (“BurgerFi
Common Stock”) for cash, securities or other property.

 

     

     

    

 

2. Beneficial Ownership.
The Holder hereby represents and warrants that it does not beneficially own, directly or through its nominees (as determined in
accordance with Section 13(d) of the Exchange Act, and the rules and regulations promulgated thereunder), any shares of BurgerFi
Common Stock, or any economic interest in or derivative of such shares, other than the Shares specified on the signature page
hereto. For purposes of this Agreement, the Shares beneficially owned by the Holder as specified on the signature page hereto,
together with any other shares of BurgerFi Common Stock, and including any securities convertible into, or exchangeable for, or
representing the rights to receive BurgerFi Common Stock, if any, acquired during the Lock-up Period are collectively referred
to as the “Lock-up Shares.

 

Notwithstanding
the foregoing, and subject to the conditions below, the undersigned may transfer Lock-Up Shares in connection (a) transfers or
distributions to the Holder’s current or former general or limited partners, managers or members, stockholders, other equityholders
or direct or indirect affiliates (within the meaning of Rule 405 under the Securities Act of 1933, as amended) or to the estates
of any of the foregoing; (b) transfers by bona fide gift to a member of the Holder’s immediate family or to a trust, the
beneficiary of which is the Holder or a member of the Holder’s immediate family for estate planning purposes; (c) by virtue
of the laws of descent and distribution upon death of the Holder; or (d) pursuant to a qualified domestic relations order, in each
case where such transferee agrees to be bound by the terms of this Agreement. provided that in the case of any transfer pursuant
to the foregoing clauses it shall be a condition to any such transfer that (i) the transferee/donee agrees to be bound by the terms
of this Agreement (including, without limitation, the restrictions set forth in the preceding sentence) to the same extent as if
the transferee/donee were a party hereto; and (ii) each party (donor, donee, transferor or transferee) shall not be required by
law (including without limitation the disclosure requirements of the Securities Act of 1933, as amended (the “Securities
Act”), and the Exchange Act) to make, and shall agree to not voluntarily make, any filing or public announcement of the transfer
or disposition prior to the expiration of the Lock-Up Period.

 

3. Representations
and Warranties. Each of the parties hereto, by their respective execution and delivery of this Agreement, hereby represents
and warrants to the other that (a) such party has the full right, capacity and authority to enter into, deliver and perform its
respective obligations under this Agreement, (b) this Agreement has been duly executed and delivered by such party and is a binding
and enforceable obligation of such party and, enforceable against such party in accordance with the terms of this Agreement, and
(c) the execution, delivery and performance of such party’s obligations under this Agreement will not conflict with or breach
the terms of any other agreement, contract, commitment or understanding to which such party is a party or to which the assets
or securities of such party are bound. The Holder has independently evaluated the merits of its decision to enter into and deliver
this Agreement, and such Holder confirms that it has not relied on the advice of BurgerFi, BurgerFi’s legal counsel, or
any other person.

 

4. No Additional
Fees/Payment. Other than the consideration specifically referenced herein, the parties hereto agree that no fee, payment or
additional consideration in any form has been or will be paid to the Holder in connection with this Agreement.

 

    2

     

    

 

5. Notices.
Any notices required or permitted to be sent hereunder shall be sent in writing, addressed as specified below, and shall be deemed
given: (a) if by hand or recognized courier service, by 4:00PM on a business day, addressee’s day and time, on the date
of delivery, and otherwise on the first business day after such delivery; (b) if by fax or email, on the date that transmission
is confirmed electronically, if by 4:00PM on a business day, addressee’s day and time, and otherwise on the first business
day after the date of such confirmation; or (c) five days after mailing by certified or registered mail, return receipt requested.
Notices shall be addressed to the respective parties as follows (excluding telephone numbers, which are for convenience only),
or to such other address as a party shall specify to the others in accordance with these notice provisions:

 

		(a)	If to BurgerFi, to:

 

105 U.S. HIGHWAY
ONE

NORTH PALM BEACH, FL 33408

Attn:

Email:

Fax:

 

with a copy to (which
shall not constitute notice):

 

LionHeart Capital.

4218 NE 2nd Avenue

2nd Floor

Miami, Florida 33137

Attention: General Counsel

Email: notices@lheartcapital.com

		(b)	If to the Holder, to the address set forth on the Holder’s signature page hereto, with a
copy, which shall not constitute notice, to:

 

280 N Compass Dr.  Ft. Lauderdale, Fl. 33308

 

or to such other address as any party may
have furnished to the others in writing in accordance herewith.

 

6. Enumeration
and Headings. The enumeration and headings contained in this Agreement are for convenience of reference only and shall not
control or affect the meaning or construction of any of the provisions of this Agreement.

 

7. Counterparts.
This Agreement may be executed in facsimile and in any number of counterparts, each of which when so executed and delivered shall
be deemed an original, but all of which shall together constitute one and the same agreement.

 

8. Successors and
Assigns. This Agreement and the terms, covenants, provisions and conditions hereof shall be binding upon, and shall inure
to the benefit of, the respective heirs, successors and assigns of the parties hereto. The Holder hereby acknowledges and agrees
that this Agreement is entered into for the benefit of and is enforceable by BurgerFi and its successors and assigns.

 

9. Severability.
If any provision of this Agreement is held to be invalid or unenforceable for any reason, such provision will be conformed to
prevailing law rather than voided, if possible, in order to achieve the intent of the parties and, in any event, the remaining
provisions of this Agreement shall remain in full force and effect and shall be binding upon the parties hereto.

 

10. Amendment.
This Agreement may be amended or modified by written agreement executed by each of the parties hereto.

 

    3

     

    

 

11. Further Assurances.
Each party shall do and perform, or cause to be done and performed, all such further acts and things, and shall execute and deliver
all such other agreements, certificates, instruments and documents, as any other party may reasonably request in order to carry
out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

12. No Strict Construction.
The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and
no rules of strict construction will be applied against any party.

 

13. Dispute Resolution.
Article XIII of the Purchase Agreement regarding arbitration of disputes is incorporated by reference herein to apply with full
force to any disputes arising under this Agreement.

 

14. Governing Law;
Jurisdiction. The terms and provisions of this Agreement shall be construed in accordance with the laws of the State of Florida.
Any legal suit, action or proceeding arising out of or based upon this agreement, the other additional agreements or the transactions
contemplated hereby or thereby may be instituted in the Federal courts of the United States of America or the courts of the State
of Florida, in each case located in the City of Fort Lauderdale and County of Broward, and each party irrevocably submits to the
exclusive jurisdiction of such courts in any such suit, action or proceeding. the parties irrevocably and unconditionally waive
any objection to the laying of venue of any suit, action or any proceeding in such courts and irrevocably waive and agree not
to plead or claim in any such court that any such suit, action or proceeding brought in any such court has been brought in an
inconvenient forum.

 

15. Controlling
Agreement. To the extent the terms of this Agreement (as amended, supplemented, restated or otherwise modified from time to
time) directly conflicts with a provisions in the Purchase Agreement, the terms of this Agreement shall control.

 

[Signature Page Follows]

 

    4

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories as of the
date first indicated above.

 

	 	BurgerFi International, Inc. 
	 	 	 
	 	(f/k/a OPES Acquisition Corp.)
	 	 	 
	 	By:	/s/ Ophir Sternberg
	 	 	Name:  	Ophir Sternberg
	 	 	Title: 	 Executive Chairman

 

     

     

    

 

IN WITNESS WHEREOF, the
parties hereto have caused this Lock-up Agreement to be duly executed by their respective authorized signatories as of the date
first indicated above.

 

	 	HOLDER
	 	 
	 	Andrea Jane Acker Revocable Trust U/A dated April 25, 2008
	 	 	 
	 	By:	/s/ Andrea Acker
	 	 	Name:  	Andrea Acker
	 	 	Title: 	Trustee

 

	 	Address:
	 	 
	 	280 N Compass Dr.  Ft. Lauderdale, Fl. 33308
	 	 
	 	NUMBER OF Lock-up Shares:
	 	 
	 	[●]

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