Document:

Monaker Group, Inc. 8k

 

Exhibit 10.1 

 

LOCK-UP AGREEMENT

 

December 31, 2020

 

Kingswood Capital Markets,

division of Benchmark Investments, Inc.

17 Battery Place, Suite 625

New York, NY 10017

 

Aegis Capital Corp.

810 7th Avenue

New York, NY 10019

 

 

	 	Re:	Underwriting Agreement, dated December 28, 2020, by and among Monaker Group, Inc., a Nevada corporation (the “Company”), Kingswood Capital Markets, division of Benchmark Investments, Inc. and Aegis Capital Corp., acting as representatives to the several underwriters (the “Representatives”).

Ladies and Gentlemen:

The undersigned
irrevocably agrees with the Company that, from the date hereof until 30 days following the date of the Underwriting Agreement (the
“Underwriting Agreement”) entered into by and among the Company and the Representatives (such period, the “Restriction
Period”), the undersigned will not offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of (or enter
into any transaction which is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition
or effective economic disposition due to cash settlement or otherwise) by the undersigned or any Affiliate (as defined in the Underwriting
Agreement) of the undersigned or any person in privity with the undersigned or any Affiliate of the undersigned), directly or indirectly,
or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section
16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), with respect to, any shares of common
stock of the Company or securities convertible, exchangeable or exercisable into, shares of common stock of the Company beneficially
owned, held or hereafter acquired by the undersigned (the “Securities”). Beneficial ownership shall be calculated
in accordance with Section 13(d) of the Exchange Act. In order to enforce this covenant, the Company shall impose irrevocable stop-transfer
instructions preventing the transfer agent of the Company from effecting any actions in violation of this letter agreement. The
Representatives may consent to an early release from the Restriction Period if, in their sole and absolute discretion, the market
for the Securities would not be adversely impacted by sales and in cases of financial emergency. The restrictions contained in
this letter agreement shall not apply to the Securities to be sold pursuant to the Underwriting Agreement on behalf of the undersigned,
if any.

 

The undersigned
acknowledges that the execution, delivery and performance of this letter agreement is a material inducement to the underwriters
to perform under the Underwriting Agreement and that the Representatives (which shall be a third party beneficiary of this letter
agreement) and the Company shall be entitled to specific performance of the undersigned’s obligations hereunder. The undersigned
hereby represents that the undersigned has the power and authority to execute, deliver and perform this letter agreement, that
the undersigned has received adequate consideration therefor and that the undersigned will indirectly benefit from the closing
of the transactions contemplated by the Underwriting Agreement.

This letter agreement
may not be amended or otherwise modified in any respect without the written consent of each of the Company, the Representatives
and the undersigned. This letter agreement shall be construed and enforced in accordance with the laws of the State of New York
without regard to the principles of conflict of laws. The undersigned hereby irrevocably submits to the exclusive jurisdiction
of the United States District Court sitting in the Southern District of New York and the courts of the State of New York located
in Manhattan, for the purposes of any suit, action or proceeding arising out of or relating to this letter agreement, and hereby
waives, and agrees not to assert in any such suit, action or proceeding, any claim that (i) it is not personally subject to the
jurisdiction of such court, (ii) the suit, action or proceeding is brought in an inconvenient forum, or (iii) the venue of the
suit, action or proceeding is improper. The undersigned hereby irrevocably waives personal service of process and consents to process
being served in any such suit, action or proceeding by receiving a copy thereof sent to the Company at the address in effect for
notices to it under the Underwriting Agreement and agrees that such service shall constitute good and sufficient service of process
and notice thereof. The undersigned hereby waives any right to a trial by jury. Nothing contained herein shall be deemed to limit
in any way any right to serve process in any manner permitted by law. The undersigned agrees and understands that this letter agreement
does not intend to create any relationship between the undersigned and the Representatives and that no issuance or sale of the
Securities is created or intended by virtue of this letter agreement.

By its signature below,
the transfer agent of the Company hereby acknowledges and agrees that, reflecting this letter agreement, it has placed an irrevocable
stop transfer instruction on all Securities beneficially owned by the undersigned until the end of the Restriction Period. This
letter agreement shall be binding on successors and assigns of the undersigned with respect to the Securities and any such successor
or assign shall enter into a similar agreement for the benefit of the Representatives.

 

 

*** SIGNATURE PAGE FOLLOWS***

 

    	 

    	 

    

 

This letter agreement may
be executed in two or more counterparts, all of which when taken together may be considered one and the same agreement.

 

 

_________________________

Signature

__________________________

Print Name

__________________________

Position in Company, if any

 

Address for Notice:

 

____________________________________

 

____________________________________

 

____________________________________

Number of shares of Common Stock

 

_____________________________________________________________________________________________________________

Number of shares of Common Stock underlying
subject to warrants, options, debentures or other convertible securities

By signing below, the Company
agrees to enforce the restrictions on transfer set forth in this letter agreement.

 

MONAKER
GROUP, INC.

 

	By: 	 	 
	Name: 	William Kerby 	 
	Title: 	Chief Executive Officer	 

 

 

Acknowledged and agreed to

as of the date set forth above:

 

COLONIAL
STOCK TRANSFER CO, INC.

 

	By: 	 	 
	Name:	 	 
	Title:Exhibit 10.1

 

FOURTH
AMENDMENT TO

BINDING
ACQUISITION LETTER OF INTENT

 

THIS
FOURTH AMENDMENT TO BINDING ACQUISITION LETTER OF INTENT (this “Amendment”), effective as of the 30th
day of December 2020 (the “Effective Date”), is made by and between Pressure BioSciences, Inc., a Massachusetts
corporation (“PBIO”), and Cannaworx, Inc., a Nevada corporation (“CWX”).

 

WITNESSETH:

 

WHEREAS,
PBIO and CWX entered into that certain Binding Acquisition Letter of Intent dated April 29, 2020 (the “Binding LOI”),
to that certain First Amendment to Binding Acquisition Letter of Intent dated July 6, 2020 (the “First Amended LOI”),
to that certain Second Amendment to Binding Letter of Intent dated October 1, 2020, and to that certain Third Amendment to Binding
Letter of Intent dated November 6, 2020, pursuant to which the parties agreed to negotiate definitive documentation to enter into
a merger or acquisition pursuant to which CWX will become a wholly owned subsidiary of PBIO (the “Transaction”);

 

WHEREAS,
pursuant to the Binding Agreement provision of the Binding LOI, either party could terminate the Binding LOI if definitive documentation
regarding the Transaction was not executed by June 30, 2020; and

 

WHEREAS,
pursuant to the Exclusive Dealing provision of the Binding LOI, the exclusivity period with regards to each of PBIO and CWX being
prohibited from negotiating a controlling interest transaction with any third party expired on June 30, 2020; and

 

WHEREAS,
pursuant to the First Amended LOI, PBIO and CWX extended the June 30, 2020 deadline to July 31, 2020 with two 30-day automatic
extensions (the “Second Amended LOI”).

 

WHEREAS,
pursuant to the Second Amended LOI, PBIO and CWX extended the September 30, 2020 deadline to October 31, 2020.

 

WHEREAS,
pursuant to the Third Amended LOI, PBIO and CWX extended the October 31, 2020 deadline to December 31, 2020.

 

NOW,
THEREFORE, for and in consideration of the mutual covenants contained in this Amendment, in the Binding LOI, in the First
Amended LOI, in the Second Amended LOI, in the Third Amended LOI, and for other good and valuable consideration, the receipt and
sufficiency of which is acknowledged, the parties hereto mutually agree, and covenant as follows:

 

	 	1.	Capitalized
    Terms. All capitalized terms used herein but not otherwise defined herein shall have the meaning ascribed to them
    in the Binding LOI.

 

    	 

    	 

    

 

Fourth
Amendment

CWX
Binding LOI

December
30, 2020

Page
2 of 3

 

	 	2.	Extension
    of December 31, 2020 Date. The December 31, 2020 deadline (reached after the extension in the Third Amended LOI) in
    the Binding Agreement provisions of the Binding LOI is hereby extended to January 31, 2021, on a non-exclusive basis, as provided
    for in the Third Amendment, dated November 4, 2020 (the “Fourth Amended LOI”). It is acknowledged that certain
    capital requirements have been satisfied for CWX and CWX and Skin Science Labs, Inc., which are wholly owned subsidiaries
    of one entity, Availa Bio Inc. There are additional requirements needed to close a transaction with PBIO, specifically, that
    certain debt and liabilities as set forth on the balance sheet, be converted, paid-off or otherwise modified, and that a plan
    be presented to Availa Bio, Inc. as to the going forward costs and expenses of PBIO, which must be completed by PBIO, presented
    to Availa Bio, Inc. and approved by Availa Bio, Inc. prior to January 31, 2021.The parties understand and agree that the capital
    structure and asset distribution of Cannaworx Holdings, Inc. and Skin Science Labs, Inc., together with their newly formed
    parent Availa Bio, Inc. have changed materially since the date of the initial Binding Letter of Intent. The closing of the
    Transaction shall be subject to the agreement by both parties of the financial conditions of PBIO and Availa Bio, Inc. Additionally,
    during the extension, the parties intend to negotiate in good faith to restructure the proposed transaction to effectuate
    the party’s intent.
	 	 	 
	 	3.	Governing
    Law. This amendment shall be construed in accordance with the laws of the State of New York without giving effect
    to any choice of conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would
    cause the application of laws of any jurisdiction other than the State of New York.
	 	 	 
	 	4.	Severability.
    If any provision of this Amendment, of the application thereof to any person or circumstance, shall, for any reason and to
    any extent, be invalid or unenforceable, the remainder of this Amendment and the application of such provision to such persons
    or circumstances shall not be affected thereby, but rather shall be enforced to the greatest extend permitted by applicable
    law.
	 	 	 
	 	5.	Counterparts.
    This Amendment may be executed in one or more counterparts, each of which when so executed shall be deemed to be an original,
    but all of which when taken together shall constitute one and the same instrument.
	 	 	 
	 	6.	Continuing
    Effect of Binding LOI. Except as modified by this Amendment, the Binding LOI shall continue in full force and effect
    in accordance with its terms. To the extent of any conflict between the terms of this Amendment and the terms of the Binding
    LOI, the terms of this Amendment shall control.

 

Signature
Page to Follow

 

    	 

    	 

    

 

Fourth
Amendment

CWX
Binding LOI

December
30, 2020

Page
3 of 3

 

IN
WITNESS WHEREOF, the undersigned have executed this Amendment to effective a so the Effective Date.

 

	 	Pressure BioSciences Inc.,
	 	a Massachusetts corporation
	 	 	 
	 	By:	
	 	 	Richard
    T. Schumacher
	 	 	President
    & CEO
	 	 	 
	 	CANNAWORX, INC.,
	 	a Nevada corporation
	 	 	 
	 	By:	 
	 	Name:	
	 	Title:

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