Document:

Exhibit
10.10

 

Lock-up
Agreement

 

Cantor
Fitzgerald & Co.

499
Park Avenue

New
York, New York 10022

Attn:
Equity Capital Markets

 

Canaccord
Genuity LLC

99
High Street, Suite 1200

Boston,
Massachusetts 02110

Attn:
Equity Capital Markets

 

Re:
Proposed Initial Public Offering by Lucid Diagnostics Inc.

 

Ladies
and Gentlemen:

 

The
undersigned, a securityholder and/or officer and/or a director of Lucid Diagnostics Inc., a Delaware corporation (the “Company”),
understands that the Company proposes to enter into an Underwriting Agreement (the “Underwriting Agreement”) with
Cantor Fitzgerald & Co. and Canaccord Genuity LLC, as representatives of the several underwriters named therein (the “Representatives”)
relating to the proposed initial public offering (the “Offering”) of shares of the Company’s common stock, par
value $0.001 per share (the “Common Stock”). The undersigned acknowledges that the underwriters are relying on the
representations and agreements of the undersigned contained in this lock-up agreement in conducting the Offering and, at a subsequent
date, in entering into the Underwriting Agreement and other underwriting arrangements with the Company with respect to the Offering.

 

In
recognition of the benefit that the Offering will confer upon the undersigned as a securityholder and/or officer and/or a director of
the Company, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned
agrees that, during the period beginning on the date hereof and ending on the date that is 180 days from the date of the Underwriting
Agreement (the “Lock-Up Period”), the undersigned will not (and will cause any immediate family member not to), without
the prior written consent of each Representative, which may withhold its consent in its sole discretion, directly or indirectly, (i) sell,
offer to sell, contract to sell or lend, effect any short sale or establish or increase a Put Equivalent Position (as defined in Rule
16a-1(h) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) or liquidate or decrease any
Call Equivalent Position (as defined in Rule 16a-1(b) under the Exchange Act), pledge, hypothecate or grant any security interest in,
or in any other way transfer or dispose of, any Common Stock or any securities convertible into or exchangeable or exercisable for Common
Stock, in each case whether now owned or hereafter acquired by the undersigned or with respect to which the undersigned has or hereafter
acquires the power of disposition (collectively, the “Lock-Up Securities”), (ii) make any demand for, or exercise
any right with respect to the registration of any of the Lock-Up Securities, or the filing of any registration statement, prospectus
or prospectus supplement (or an amendment or supplement thereto) in connection therewith, under the Securities Act of 1933, as amended,
(iii) enter into any swap, hedge or any other agreement or any transaction that transfers, in whole or in part, the economic consequence
of ownership of the Lock-Up Securities, whether any such swap or transaction is to be settled by delivery of Common Stock or other securities,
in cash or otherwise, or (iv) publicly announce the intention to do any of the foregoing.

 

    	 

     

    

 

Notwithstanding
the foregoing, and subject to the conditions below, the undersigned may transfer the Lock-Up Securities pursuant to clauses (i) through
(vii) below without the prior written consent of each Representative, provided that (1) prior to any such transfer,
other than in the case of clause (vii), the Representatives receive a signed lock-up agreement, substantially in the form of this lock-up
agreement, for the balance of the Lock-Up Period from each donee, trustee, distributee or transferee, as the case may be, (2) any
such transfer shall not involve a disposition for value, (3) in the case of clauses (i) through (iii) below, such transfers
are not required to be reported with the Securities and Exchange Commission under the Exchange Act, and (4) the undersigned does
not otherwise voluntarily effect any public filing or report regarding such transfers:

 

	 	(i)	as
    a bona fide gift or gifts; or
	 	 	 
	 	(ii)	to
    any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned (for purposes of this
    lock-up agreement, “immediate family” shall mean any relationship by blood, marriage or adoption, not more remote than
    first cousin); or
	 	 	 
	 	(iii)	pursuant
    to a qualified domestic order or in connection with a divorce settlement; or
	 	 	 
	 	(iv)	by
    will or intestate succession to the legal representative, heir, beneficiary or immediate family of the undersigned upon the death
    of the undersigned; or
	 	 	 
	 	(v)	to
    a charity or educational institution; or
	 	 	 
	 	(vi)	to
    an affiliate or to an investment fund or any other entity controlled or managed by the undersigned, or to a shareholder, partner,
    or member of a corporation, partnership, or limited liability company controlled by the undersigned; or
	 	 	 
	 	(vii)	pursuant
    to forfeitures of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock to satisfy tax
    withholding obligations of the undersigned in connection with the vesting of restricted stock or stock options granted to the undersigned
    pursuant to the Company’s incentive equity plans.

 

No
provision of this lock-up agreement shall be deemed to restrict or prohibit the exercise or exchange by the undersigned of any option
or warrant to acquire shares of Common Stock, or other security exchangeable or exercisable for or convertible into Common Stock, provided
that the undersigned does not transfer the Common Stock acquired upon such exercise, exchange, or conversion during the Lock-Up Period
unless such transfer is otherwise permitted hereunder.

 

    	 

     

    

 

The
undersigned further agrees that the foregoing provisions shall be equally applicable to any Common Stock the undersigned may purchase
or otherwise receive in the Offering.

 

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 Lock-Up Securities except in compliance with the foregoing restrictions.

 

With
respect to the Offering only, the undersigned waives any registration rights relating to registration under the Securities Act of the
offer and sale of any shares of Common Stock and/or any options or warrants or other rights to acquire Common Stock or any securities
exchangeable or exercisable for or convertible into Common Stock, or to acquire other securities or rights ultimately exchangeable or
exercisable for or convertible into Common Stock, owned either of record or beneficially by the undersigned, including any rights to
receive notice of the Offering.

 

In
addition, if the undersigned is an officer or director of the Company, (i) the Representatives agree that, at least three business days
before the effective date of any release or waiver of the foregoing restrictions in connection with a transfer of Shares, the Representatives
will notify the Company of the impending release or waiver, and (ii) the Company (in accordance with the provisions of the Underwriting
Agreement) will announce the impending release or waiver by press release through a major news service at least two business days before
the effective date of the release or waiver. Any release or waiver granted by the Representatives hereunder to any such officer or director
shall only be effective two business days after the publication date of such press release. The provisions of this paragraph will not
apply if both (a) the release or waiver is effected solely to permit a transfer not for consideration and (b) the transferee has agreed
in writing to be bound by the same terms described in this letter agreement that are applicable to the transferor to the extent and for
the duration that such terms remain in effect at the time of the transfer.

 

The
undersigned confirms that the undersigned has not, directly or indirectly, taken any action designed to or that might reasonably be expected
to cause or result in the stabilization or manipulation of the price of any security of the Company to facilitate the sale of the Common
Stock. The undersigned will not take, directly or indirectly, any such action.

 

As
used herein, “immediate family” shall mean the spouse, domestic partner, lineal descendant, father, mother, brother, sister,
or any other person with whom the undersigned has a relationship by blood, marriage or adoption not more remote than first cousin.

 

The
undersigned represents and warrants that the undersigned has full power, capacity and authority to enter into this letter agreement.
This letter agreement is irrevocable and will be binding on the undersigned and the successors, heirs, personal representatives and assigns
of the undersigned.

 

This
lock-up agreement shall be governed by and construed in accordance with the laws of the State of New York.

 

Whether
or not the Offering actually occurs depends on a number of factors, including market conditions. Any Offering will only be made pursuant
to an Underwriting Agreement, the terms of which are subject to negotiation between the Company and the underwriters.

 

This
lock-up agreement shall automatically terminate, and the undersigned shall be released from its obligations hereunder, upon the earliest
to occur, if any, of (i) the Company advising the Representatives in writing, prior to the execution of the Underwriting Agreement,
that it has determined not to proceed with the Offering, (ii) the executed Underwriting Agreement being terminated prior to the
closing of the Offering (other than the provisions thereof that survive termination), and (iii) October 31, 2021, in the event that the
Underwriting Agreement has not been executed by such date.

 

[Signature
Page Follows]

 

    	 

     

    

 

	 	Very truly yours,
	 	 	 
	 	
	 	Name of Securityholder/Director/Officer (Print exact name)
	 	 	                                         
	 	By:	
	 	 	Signature
	 	 	 
	 	If not signing in an individual capacity:
	 	 	 
	 	 
	 	Name of Authorized Signatory (Print)
	 	 	 
	 	 
	 	Title of Authorized Signatory (Print)
	 	(indicate capacity of person signing if signing as custodian, trustee or on behalf of an entity)Exhibit 10.11

 

Agreement
for Subscription of Debentures 

 

THIS
AGREEMENT TO SUBSCRIBE (hereinafter referred to as this “AGREEMENT”) is made this 30th day of December 2020 in
Mumbai and entered into:

BY
AND BETWEEN:

 

Lytus
Technologies Private Limited, incorporated under the Companies Act, 1956 and having its registered office at A-21, 1st floor, Ghanshyam
Industrial Estate, Off. Veera Desai Road, Andheri West Mumbai 400053, (hereinafter referred to as the “Lytus” or “the
Company” which expression shall unless repugnant to the context or meaning thereof be deemed to include its successors and assigns),
of the First Part

 

AND

 

Veeta
Legal Services Private Limited, incorporated under the Companies Act, 1956 and having its registered office at 7, Raheja Centre,
Ground Floor, 214 Free Press Journal Marg, Nariman Point Mumbai Maharashtra 400021, (hereinafter referred to as the “Veeta Legal”
which expression shall unless repugnant to the context or meaning thereof be deemed to include its successors and assigns), of the Other
Part.

 

RECITALS:

 

		A.	The
                                            Company is a wholly owned subsidiary of Lytus Technologies Holdings PTV Ltd. whose enterprise
                                            valuation is currently estimated at US$ 500 million.

		B.	The
                                            Company is in need of certain financial assistance and Veeta Legal has agreed to provide
                                            such funding to the Company

		C.	Accordingly,
                                            the Company has agreed to allot and issue Secured Non-Convertible Redeemable Debentures to
                                            Veeta Legal, which has agreed to subscribe for on the terms and conditions set out in this
                                            Agreement.

		D.	It
                                            is agreed and decided by the Board of Directors that on receipt of INR 240,00,00,000, Lytus
                                            shall issue Redeemable Debentures in the name of Veeta Legal in accordance with all the applicable
                                            provisions of the Companies Act, 2013.

 

		E.	The
                                            Parties hereby record the terms and conditions of their mutual understandings in respect
                                            of this Transaction.

 

    
	LYTUS TECHNOLOGIES PRIVATE LIMITED	VEETA LEGAL SERVICES PRIVATE LIMITED
	1

 

     

    

 

NOW
THEREFORE THIS AGREEMENT WITNESSETH AND IT IS AGREED BY AND BETWEEN THE PARTIES HERETO AS UNDER:

 

		1	INTERPRETATION

 

In
this Agreement, including its Schedules, the headings shall not affect its interpretation and, unless the context otherwise requires:

 

		1.1	Definitions

 

“Act”
means the Companies Act, 2013 of India and any statutory amendment or modification thereto;

 

“Business
Day” means a day on which banks are open for business in India,.

 

“Initial
Completion” means the completion of the subscription for the New Debentures;

 

“Initial
Completion Date” has the meaning set out as issue date and registered date of Debentures;

 

“Veeta
Legal Warranties” means the warranties and representations.

 

“New
Debentures” means the Redeemable Debentures to be issued by the Lytus and allotted to the Veeta Legal as referred to in Clause
2.1;

 

“Promoters
& Lytus Warranties” means the warranties and representations;

 

“Regulatory
Authority” means, with respect to any entity, any court, department, authority, body, agency, having governmental or regulatory
authority or powers or arbitrator having jurisdiction over any of the foregoing;

 

“Rs.”
means Rupees, the lawful currency of India;

 

“Transaction
Documents” means this Agreement, the Debenture Holders Agreement and any documents referred to or contemplated by such agreements
and a “Transaction Document” shall mean any of them.

 

“Warrantors”
means the Promoters and the Lytus.

 

    
	LYTUS TECHNOLOGIES PRIVATE LIMITED	VEETA LEGAL SERVICES PRIVATE LIMITED
	2

 

     

    

 

1.2       Headings
are used for convenience only and shall not affect the interpretation of this Agreement.

 

1.3
       Unless the context specifies otherwise, reference to the singular includes a reference to the
plural and vice versa.

 

1.4       Reference
to any person includes any legal or natural person, partnership, firm, trust, government or local authority, department or other body
(whether corporate or incorporate).

 

1.5       Words
and expressions defined in the Companies Act, 1956 shall, (unless the context specifies otherwise), have the same meaning in this Agreement.

 

1.6       Reference
to certified copy or certified true copy shall mean in relation to any document or agreement certified by a director or the Lytus secretary
of the party concerned as being a true copy thereof.

 

1.7       Reference
to the expression “to the best of a Party’s knowledge and belief” shall be construed to mean that the relevant party
has made best possible enquiry in forming such belief.

 

1.8       References
to any enactment are to be construed as referring also to any amendment or re-enactment (whether before or after the date of this Agreement),
any previous enactment which such enactment has replaced (with or without amendment) and to any subordinate legislation regulation or
order made under it.

 

1.9       Reference
to any statute or regulation made using a commonly used abbreviation, shall be construed as a reference to the short title of the statute
or full title of the regulation.

 

1.10       Words
and expressions not defined herein shall have the same meaning as assigned to them under the Business Transfer Agreement.

 

		2.	REDEEMABLE
                                            DEBENTURES

 

2.1       Secured
Non-convertible Redeemable Debentures

 

The
Company agrees to issue to Veeta Legal on private placement basis and Veeta Legal agrees to subscriber to the Company’s proposed
issue of Debentures of the nominal value of Rs. 240 crores on the terms and conditions herein set forth and to the extent mentioned hereinbefore
and subsequently the company will make the allotment of said Debentures.

 

Upon
the request of the Company, subject to the terms and conditions (including Condition Precedents) set out in this Agreement, Veeta Legal
shall subscribe to 2,40,00,000 units (two crores and forty lakh units) of Redeemable Debentures of the face value of Rs. 100 each aggregating
to a total of Rs. 240,00,00,000 (Rupees Two Forty Crores only) on the terms and conditions recorded hereinafter, in accordance with the
Companies Act, 2013 and other regulatory laws as applicable.

 

    
	LYTUS TECHNOLOGIES PRIVATE LIMITED	VEETA LEGAL SERVICES PRIVATE LIMITED
	3

 

     

    

 

The
aforesaid to-be subscribed number of Debentures shall have the redemption value of INR 345 crores at the end of 12 months, as per the
terms as discussed below. The redemption amount shall be paid within the period of 45 days from the above date, unless the Company extends
the period for another 4 years, in accordance with the Companies Act, 2013 and other regulatory laws as applicable.

 

The
Debentures together with interest shall be secured by the cash collateral arising from cable service to subscriber base, originally belonging
to project companies (initial project companies’ subscriber base).

 

2.2       Payment
of Subscription Moneys

 

The
subscription amount shall be invested in the Company, by way of subscription to the Debentures issued by the Company.

 

3.
       CONDITIONS PRECEDENT

 

		1.	The
                                            Company shall call for the subscription on the basis of this agreement through its written
                                            confirmation. On receiving the said confirmation, Veeta Legal shall subscribe to Debentures
                                            of the Company.

 

		2.	Veeta
                                            Legal is aware of the structure of the Company, its business and its funding requirements.
                                            It further understands that there is no personal obligation of the Company, or its management
                                            or its promoters, except to the extent of the agreed arrangement.

 

		3.	To
                                            pass necessary authority by way of Board Resolutions/Members Resolutions to raise funds through
                                            issue of aforesaid Redeemable Debentures, along with the necessary terms.

 

		4.	To
                                            comply all other necessary provisions of the Companies Act, 2013 read with the Rules made
                                            thereunder.

 

		5.	To
                                            obtain keyman insurance and / or such other instrument of key executives within a period
                                            of 30 days from subscription of Debentures.

 

		4.	INITIAL
COMPLETION

 

		4.1	Date
and Place

 

Initial
Completion, whether wholly or in part, shall take place no later than 25 January 2021 or at such other place or on such other date as
may be agreed between the parties (the “Initial Completion Date”).

 

    
	LYTUS TECHNOLOGIES PRIVATE LIMITED	VEETA LEGAL SERVICES PRIVATE LIMITED
	4

 

     

    

 

		4.4	Other
terms

 

		1.	Tenure:
                                            The tenure of aforesaid Redeemable Debentures shall be 12 months from the date of allotment
                                            of said Debentures, with an option to extend the period by another 4 years (aggregate period
                                            of 5 years) :-

 

		●	the
                                            Debentures shall be redeemed at a value of INR 345 crores, with an assumed principal amount
                                            of INR 300 crores and accumulated interest of INR 45 crores) at the end of 12 months from
                                            the issue date.

 

		●	The
                                            redeemed amount shall be paid within the period of 45 days from the above due date, unless
                                            the period is extended for another 4 years, where which the revised redemption value shall
                                            be INR 345 crores plus an additional simple interest of 15% per annum on the revised principal
                                            amount of INR 300 crores starting from the revised principal date.

 

		2.	Debenture
                                            certificate

 

The
Company shall issue Debenture Certificate/s to the Debenture Holder/s after making necessary compliance to the provisions under the applicable
the Companies Act, 2013 read with the related rules.

 

		7	OTHER
PROVISIONS

 

		7.1	Confidentiality

 

Each
Party agrees with other Party that it shall not and it shall ensure that none of its officers, directors, employees, and agents discloses,
to any third party, unless the other Parties shall have in writing consented in advance to such disclosure or unless otherwise as may
be required by applicable law and, in such case, only to the extent of such consent or requirement:

 

		(i)	any
                                            proprietary information including, inter alia, any information developed wholly or partially
                                            in connection with the business and affairs of the Company (including trade secrets and information
                                            of commercial value) or for or with the assistance of the Company pursuant to this Agreement;

 

		(ii)	any
                                            other information used by the Company in the conduct of its business or affairs, of which
                                            the disclosure to or use by any third party might adversely affect the Company’s business
                                            or affairs;

 

		(iii)	any
                                            financial or other information relating to the Company, which information is not readily
                                            available to the public;

 

		(iv)	negotiations
                                            with respect to this Agreement or any related document; or

 

		(v)	any
                                            communications between any of the parties and all information and other materials supplied
                                            to or received by any of them from the others which is either marked “confidential”
                                            or is by its nature intended to be for the knowledge of the recipient alone.

 

    
	LYTUS TECHNOLOGIES PRIVATE LIMITED	VEETA LEGAL SERVICES PRIVATE LIMITED
	5

 

     

    

 

		7.4	Assignment

 

Except
as otherwise expressly provided in this Agreement, neither the Veeta Legal, nor the Company may, without the prior written consent of
the others, assign the benefit of this Agreement in whole or in part.

 

		7.5	Variation

 

No
variation of this Agreement shall be effective unless in writing and signed by or by a duly authorised representative of either party
on behalf of each of the parties to this Agreement.

 

		7.6	Time
of the Essence

 

Any
time, date or period referred to in any provision of this Agreement may be extended by mutual agreement between the parties but as regards
any time, date or period originally fixed or any time, date or period so extended time shall be of the essence.

 

		7.8	No
Partnership or Agency

 

Nothing
in this Agreement shall be deemed to constitute a partnership between the parties hereto nor constitute any party the agent of another
party for any purpose.

 

		7.9	Notices

 

Any
demand, notice or other communication (hereinafter in this Clause 7.9 referred to as a “Notice”) to be given in connection
with this Agreement shall be in writing and shall be delivered personally or sent by facsimile to the Parties at the following addresses
(or at such other address facsimile number or individual for a Party as may be designated by Notice by such Party to the others):

 

		7.9.1	if
                                            to the Veeta Legal addressed as follows:

 

For
the Attention of: Atul Gupta

Email:
atulguptaji@gmail.com

 

		7.9.2	If
to the Company addressed as follows:

 

For
the Attention of: Jagjit Singh Kohli

Email:
jagjit@lytuscorp.com

 

Any
Notice shall be deemed to have been given and received on the day it is actually received.

 

    
	LYTUS TECHNOLOGIES PRIVATE LIMITED	VEETA LEGAL SERVICES PRIVATE LIMITED
	6

 

     

    

 

		7.10	Severability

 

The
illegality, invalidity or unenforceability of any provision of this Agreement, whether in whole or in part, under the law of any jurisdiction
shall not affect its legality, validity or enforceability under the law of any other jurisdiction nor the legality, validity or enforceability
of any other provision or part.

 

		7.11	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 the counterparts shall together constitute one and the same instrument.

 

		7.12	Force
Majeure

 

Should
any of the Parties to the Agreement be prevented from performing or executing its covenants under the Agreement (the “Covenants”)
by force majeure, such as Acts of State, earthquake, typhoon, flood, fire and war, pandemic, and other unforeseen events which are beyond
the reasonable control of any such Party and their happening and consequences are unforeseen and unavoidable, the prevented Party shall
notify the other Party in writing without any delay, and within 15 days thereafter provide detailed information of the events and a valid
document giving the reason for its inability to perform or execute the Covenants or for delay in the performance or execution of all
or part of the Covenants or to exempt the Party of any obligation for implementation of the Agreement or to delay the performance or
execution of the Covenants, according to the effects of the events thereon. If such events subsist for a period of 6 (six) months from
the date of the notice, either Party shall have a right to terminate the Agreement forthwith by giving a written notice to the other
Party.

 

		8.	ARBITRATION:

 

		8.1	Any
                                            and all disputes or differences arising under this Agreement, including questions as to interpretation
                                            thereof, between all or any of the Parties to this Agreement, shall be resolved by reference
                                            to arbitration by a sole arbitrator to be mutually appointed by the disputing Parties, as
                                            per the Arbitration and Conciliation Act, 1996 as amended or substituted from time to time.

 

		8.2.	The
venue for arbitration shall be Mumbai and no other place.

 

		8.3.	The
language of the arbitration shall be English.

 

		8.4.	The
                                            award rendered by the Arbitrator shall be in writing and shall set out the reasons for the
                                            arbitrator’s decision. The award shall allocate or apportion the costs of the arbitration
                                            as the arbitrator deems fair.

 

    
	LYTUS TECHNOLOGIES PRIVATE LIMITED	VEETA LEGAL SERVICES PRIVATE LIMITED
	7

 

     

    

 

		8.5.	The
                                            Parties agree that the arbitration award shall be final and binding on the Parties.

 

		9.	GOVERNING
LAW:

 

		9.1	This
Agreement shall be governed by the laws of India.

 

		9.2	Subject
                                            to arbitration in accordance with Clause 8, the courts in Mumbai shall have exclusive jurisdiction
                                            in respect of any and all disputes or differences arising, at any given point in time, under
                                            this Agreement.

 

IN
WITNESS WHEREOF, THIS AGREEMENT HAS BEEN SIGNED BY ALL THE PARTIES AS OF THE DATE FIRST HEREINABOVE WRITTEN.

 

SIGNED
SEALED AND DELIVERED

by
the withinnamed “Lytus”

Through
the hands of its Authorised Representative

For
Lytus Technologies Private Limited

Through
the hands of its Authorised Representative

 

	Name: 	/s/
                                            Jagjit Singh Kohli	 
	 	 	 
	Date:	30
                                            December, 2020	 

 

in
the presence of witness:

 

		1)	Name:
                                            ___________________________

 

		2)	Name:
                                            ___________________________

 

SIGNED
SEALED AND DELIVERED

by
the withinnamed “Veeta Legal”

 

Veeta
Legal Services Private Limited

Through
the hands of its Authorised Representative

 

	Name: 	/s/
                                            Atul Kumar Gupta	 
	 	 	 
	Date:	30
                                            December, 2020	 

 

in
the presence of witness:

 

		1)	Name:
                                            _____________________________

 

		2)	Name:
                                            _____________________________

 

 

 

	LYTUS TECHNOLOGIES PRIVATE LIMITED	VEETA LEGAL SERVICES PRIVATE LIMITED
	8

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