Document:

Reliant Holdings, Inc. 8-K

 

EXHIBIT
10.3

 

SECOND AMENDMENT
TO LOCK-UP AGREEMENT

 

This
Second Amendment To Lock-Up Agreement, dated as of December 3, 2018 (this “Agreement”) and effective
as of November 7, 2017 (the “Effective Date”), amends that certain Lock-Up Agreement made and entered
into as of November 7, 2017 and amended by that certain First Amendment to Lock-Up Agreement dated December 5, 2017 (as amended
to date, the “Lock-Up”), by and among the individuals and entities who have signed a form of page 4
of this Agreement below (each a “Signature Page” and each party, a “Shareholder”,
and collectively, the “Shareholders”) and Reliant Holdings, Inc., a Nevada corporation (the “Company”).

 

WHEREAS,
the Company and the Shareholders desire to amend the Lock-Up on the terms and conditions set forth below.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants, agreements, and considerations herein contained, and
other good and valuable consideration, which consideration the parties hereby acknowledge and confirm the receipt and sufficiency
thereof, the parties hereto agree as follows:

 

1.                 

Amendment to Lock-Up.

 

(a)       

Effective
as of the Effective Date, Section 1.1 of the Lock-Up is hereby amended and restated to provide as follows:

 

“1.1 

Until
December 31, 2019 (the “Lock-Up Period”), the Shareholder will not, directly or indirectly Transfer
any of the Shares, except that the Shareholder may Transfer not more than 25,000 (as adjusted for any stock split, recapitalization
or combination) of the Shares in any ninety (90) day period (the “Lock-Up”), which Transfers in any
ninety (90) period shall be non-cumulative and shall not carry over from one ninety (90) day period to the next. “Transfer”
means the offer for sale, sale, pledge, hypothecation, transfer, assignment or other disposition of (or to enter into any transaction
or device that is designed to, or could be expected to, result in the sale, pledge, hypothecation, transfer, assignment or other
disposition at any time) (including, without limitation, by operation of law), or the entry into any swap or other derivatives
transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of the Shares,
whether any such transaction is to be settled by delivery of Shares or other securities, in cash or otherwise.”

 

2.                 

Consideration. Each of the parties agrees and confirms by signing below that they have received valid consideration
in connection with this Agreement and the transactions contemplated herein.

 

3.                 

Mutual Representations, Covenants and Warranties. Each of the parties, for themselves and for the benefit of
each of the other parties hereto, represents, covenants and warranties that (a) such party has all requisite power and authority,
corporate or otherwise, to execute and deliver this Agreement and to consummate the transactions contemplated hereby and thereby
and this Agreement constitutes the legal, valid and binding obligation of such party enforceable against such party in accordance
with its terms, except as such enforcement may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or
similar laws affecting creditors’ rights generally and general equitable principles;  (b) the execution and delivery
by such party and the consummation of the transactions contemplated hereby and thereby do not and shall not, by the lapse of time,
the giving of notice or otherwise: (i) constitute a violation of any law; or (ii) constitute a breach of any provision contained
in, or a default under, any governmental approval, any writ, injunction, order, judgment or decree of any governmental authority
or any contract to which such party is bound or affected; and (c) any individual executing this Agreement on behalf of an entity
has authority to act on behalf of such entity and has been duly and properly authorized to sign this Agreement on behalf of such
entity.

 

    	 Page 1 of 4
Second Amendment to Lock-Up Agreement

    	 

    

 

4.                 

Further Assurances. The parties agree that, from time to time, each of them will take such other action and
to execute, acknowledge and deliver such contracts, deeds, or other documents as may be reasonably requested and necessary or
appropriate to carry out the purposes and intent of this Agreement and the transactions contemplated herein.

 

5.                 

Effect
of Agreement. Upon the effectiveness of this Agreement, each reference in the Lock-Up
to “Agreement,” “hereunder,”
“hereof,” “herein”
or words of like import shall mean and be a reference to such Lock-Up as modified or amended hereby.

 

6.                 

Lock-Up
to Continue in Full Force and Effect. Except as specifically modified or amended herein,
the Lock-Up and the terms and conditions thereof shall remain in full force and effect.

 

7.                 

Entire Agreement. This Agreement sets forth all of the promises, agreements, conditions, understandings, warranties
and representations among the parties with respect to the transactions contemplated hereby and thereby, and supersedes all prior
agreements, arrangements and understandings between the parties, whether written, oral or otherwise.

 

8.                 

Construction. In this Agreement words importing the singular number include the plural and vice versa; words
importing the masculine gender include the feminine and neuter genders.

 

9.                 

Heirs, Successors and Assigns. Each and all of the covenants, terms, provisions and agreements herein contained
shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, legal representatives, successors
and assigns.

 

10.             

Counterparts and Signatures. This Agreement and any signed agreement or instrument entered into in connection
with this Agreement, and any amendments hereto or thereto, may be executed in one or more counterparts, all of which shall constitute
one and the same instrument. Any such counterpart, to the extent delivered by means of a facsimile machine or by .pdf, .tif, .gif,
..jpeg or similar attachment to electronic mail (any such delivery, an “Electronic Delivery”) shall be
treated in all manner and respects as an original executed counterpart and shall be considered to have the same binding legal
effect as if it were the original signed version thereof delivered in person. No party shall raise the use of Electronic Delivery
to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use
of Electronic Delivery as a defense to the formation of a contract, and each such party forever waives any such defense, except
to the extent such defense relates to lack of authenticity.

 

    	 Page 2 of 4
Second Amendment to Lock-Up Agreement

    	 

    

 

IN WITNESS WHEREOF,
parties have caused this Agreement to be signed and delivered by their duly authorized representatives as of the date first set
forth above to be effective as of the Effective Date.

 

 

	THE COMPANY:
	 	 
	RELIANT HOLDINGS, INC.
	 	 
	 	 

	By: 	/s/ Elijah May
	 	 
	Its:  	CEO

	 	 
	Printed Name:  	Elijah May

[Signature
page(s) of Shareholders follow.]

 

 

    	 Page 3 of 4
Second Amendment to Lock-Up Agreement

    	 

    

 

SHAREHOLDER:

 

 

	By:	/s/ Don Maler
	 	 

	Printed Name: 	Don Maler 
	 	 
	If Entity:	 

	 	 
	Position of Signatory with Entity: 	 
	 	 

	Entity Name: 	 
	 	 

	Shares Beneficially Owned: 	700,000

 

 

 

 

    	 Page 4 of 4
Second Amendment to Lock-Up Agreement

    	 

    

 

 

	By:	/s/ Joel Hefner 
	 	 

	Printed Name: 	Joel Hefner 
	 	 
	If Entity:	 

	 	 
	Position of Signatory with Entity: 	 
	 	 

	Entity Name: 	 
	 	 

	Shares Beneficially Owned: 	450,000

 

    	 	Page 4 of 4 

Second Amendment to Lock-up Agreement	 

    	 

    

 

	By:	/s/ Julie Hale
	 	 

	Printed Name: 	Julie Hale 
	 	 
	If Entity:	 

	 	 
	Position of Signatory with Entity: 	 
	 	 

	Entity Name: 	 
	 	 

	Shares Beneficially Owned: 	500,000

 

    	 	Page 4 of 4 

Second Amendment to Lock-up Agreement	 

    	 

    

 

	By:	/s/ Marsha Hash
	 	 

	Printed Name: 	Marsha Hash 
	 	 
	If Entity:	 

	 	 
	Position of Signatory with Entity: 	 
	 	 

	Entity Name: 	 
	 	 

	Shares Beneficially Owned: 	500,000

 

    	 	Page 4 of 4 

Second Amendment to Lock-up Agreement	 

    	 

    

 

	By:	/s/ Edward M. Liceaga
	 	 

	Printed Name: 	Edward M. Liceaga 
	 	 
	If Entity:	 

	 	 
	Position of Signatory with Entity: 	President 
	 	 

	Entity Name: 	River North Equity, LLC 
	 	 

	Shares Beneficially Owned: 	500,000

 

 

 

    	 	Page 4 of 4 

Second Amendment to Lock-up AgreementReliant Holdings, Inc. 8-K

 

EXHIBIT
10.4

 

LOCK-UP
AGREEMENT

 

THIS
LOCK-UP AGREEMENT (this “Agreement”), made as of this ___ day of December 2018 (the “Effective
Date”), by and among the individuals who have signed a form of page 6 of this Agreement below (each a “Signature
Page” and signatory a “Shareholder” and collectively, the “Shareholders”)
and Reliant Holdings, Inc., a Nevada corporation (the “Company”).

 

W
I T N E S S E TH:

 

WHEREAS,
the Shareholders hold that number of shares of the Company’s common stock as are set forth next to their signature on the
Signature Page (the “Shares”), which Shares shall be subject to the terms of this Agreement as provided
below; and

 

WHEREAS,
the parties hereto desire to enter into this Agreement upon the terms and conditions contained hereinafter to set forth conditions
pursuant to which the Shareholder may transfer and sell the Shares.

 

NOW,
THEREFORE, in consideration of the mutual premises set forth herein, $10 and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged by each Shareholder, the parties hereto hereby agree as follows.

 

1.                 

Lock-Up. Each Shareholder hereby agrees that:

 

1.1.           

Until December 31, 2019 (the “Lock-Up Period”), the Shareholder will not, directly or indirectly
Transfer any of the Shares, except that the Shareholder may Transfer not more than 25,000 (as adjusted for any stock split, recapitalization
or combination) of the Shares in any ninety (90) day period (the “Lock-Up”), which Transfers in any
ninety (90) period shall be non-cumulative and shall not carry over from one ninety (90) day period to the next. “Transfer”
means the offer for sale, sale, pledge, hypothecation, transfer, assignment or other disposition of (or to enter into any transaction
or device that is designed to, or could be expected to, result in the sale, pledge, hypothecation, transfer, assignment or other
disposition at any time) (including, without limitation, by operation of law), or the entry into any swap or other derivatives
transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of the Shares,
whether any such transaction is to be settled by delivery of Shares or other securities, in cash or otherwise.

 

1.2.           

Notwithstanding the above Section 1.1, a Transfer of Shares as a bona fide gift, by will or intestacy or to a family
member or trust for the benefit of a family member (for purposes of this Agreement, “family member”
means any relationship by blood, marriage or adoption, not more remote than first cousin); or transfers of Shares to a charity
or educational institution; provided that in the case of any transfer pursuant to the foregoing clauses any such transfer shall
not involve a disposition for value and each transferee shall sign and deliver to the Company a form of this Agreement.

 

 

    	Lock-up Agreement
Shareholders of Reliant Holdings, Inc.
December 2018
Page 1 of 7

    	 

    

 

2.                 

Representations and Warranties of Each Shareholder. Each Shareholder represents, warrants and agrees to the following
representations, acknowledgements and agrees that the Company and its assigns shall be able to rely on such representations for
all purposes:

 

2.1.           

The Shareholder agrees that the Shares and any certificate evidencing such Shares may, at the request of the Company, be stamped
or otherwise imprinted with a conspicuous legend in substantially the following form:

 

“THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TERMS OF THAT CERTAIN LOCK-UP AGREEMENT BETWEEN THE HOLDER AND THE COMPANY,
DATED AS OF DECEMBER [ ], 2018. A COPY OF THE LOCK-UP AGREEMENT MAY BE INSPECTED AT THE PRINCIPAL OFFICE OF THE COMPANY.”

 

3.                 

Right to Reject Dispositions. In furtherance of the foregoing, the Company and its transfer agent are hereby authorized
(i) to decline to make any transfer of securities if such transfer would constitute a violation or breach of this Agreement and
(ii) to imprint on any certificate representing Shares beneficially owned by a Shareholder a legend describing the restrictions
contained herein.

 

4.                 

Power and Authority. Each party hereto respectively represents and warrants that such party has full power and authority
to enter into this Agreement and that, upon request of the Company, each Shareholder will execute any additional documents necessary
in connection with the enforcement hereof.

 

5.                 

No Assignment; Binding Nature. No party may assign this Agreement in whole or in part, without the written consent
of the other parties. This Agreement shall be binding upon the parties and their respective successors and permitted assigns.

 

6.                 

Miscellaneous.

 

6.1.           

Severability of Invalid Provision. If any provision of this Agreement is held invalid or unenforceable by any court
of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this
Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid
or unenforceable.

    	Lock-up Agreement
Shareholders of Reliant Holdings, Inc.
December 2018
Page 2 of 7

    	 

    

 

6.2.           

Entire Agreement of the Parties. The Agreement constitutes the entire agreement of the parties regarding the matters
contemplated herein, or related thereto, and supersedes all prior and contemporaneous agreements, and understandings of the parties
in connection therewith. No covenant, representations, or conditions, which are not expressed in the Agreement shall affect, or
be effective to interpret, change, or restrict, the express provisions of this Agreement.

 

6.3.           

Further Assurances. All parties agree that, from time to time, each of them will take such other action and to execute,
acknowledge and deliver such contracts or other documents as may be reasonably requested and necessary or appropriate to carry
out the purposes and intent of this Agreement.

 

6.4.           

Specific Performance. The parties agree that the covenants and obligations contained in this Agreement relate to special,
unique and extraordinary matters and that a violation of any of the terms hereof or thereof would cause irreparable injury in
an amount which would be impossible to estimate or determine and for which any remedy at law would be inadequate. As such, the
parties agree that if either party fails or refuses to fulfill any of its obligations under this Agreement, then the other party
shall have the remedy of specific performance, which remedy shall be cumulative and nonexclusive and shall be in addition to any
other rights and remedies otherwise available under any other contract or at law or in equity and to which such party might be
entitled. The Shareholder therefore agrees that, in the event of any such breach or threatened breach of this Agreement or the
terms and conditions hereof by the Shareholder, the Company shall be entitled, in addition to all other available remedies, to
an injunction restraining any breach or threatened breach, without the necessity of showing economic loss and without any bond
or other security being required.

 

6.5.           

Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED, INTERPRETED AND ENFORCED ACCORDING TO, THE LAWS OF
THE STATE OF TEXAS, WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS PROVISIONS THEREOF AND SHALL BE BINDING UPON THE PARTIES
HERETO AND THEIR RESPECTIVE SUCCESSORS AND ASSIGNS. Any judicial proceeding brought by or any party regarding any dispute arising
out of this Agreement or any matter related hereto may be brought in the courts of the State Texas, or in the United States District
Court for the Western District of Texas and, by execution and delivery of this Agreement, each party hereby submits to the jurisdiction
of such courts. EACH PARTY HEREBY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN CONNECTION WITH ANY MATTER CONTESTED UNDER,
OR ARISING OUT OF, THIS AGREEMENT.

    	Lock-up Agreement
Shareholders of Reliant Holdings, Inc.
December 2018
Page 3 of 7

    	 

    

 

6.6.           

Construction. When used in this Agreement, unless a contrary intention appears: (i) a term has the meaning assigned
to it; (ii) “or” is not exclusive; (iii) “including” means including without
limitation; (iv) words in the singular include the plural and words in the plural include the singular, and words importing the
masculine gender include the feminine and neuter genders; (v) any agreement, instrument or statute defined or referred to herein
or in any instrument or certificate delivered in connection herewith means such agreement, instrument or statute as from time
to time amended, modified or supplemented and includes (in the case of agreements or instruments) references to all attachments
thereto and instruments incorporated therein; (vi) the words “hereof”, “herein”
and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement
as a whole and not to any particular provision hereof; (vii) references contained herein to Article, Section, Schedule and Exhibit,
as applicable, are references to Articles, Sections, Schedules and Exhibits in this Agreement unless otherwise specified; (viii)
references to “writing” include printing, typing, lithography and other means of reproducing words in
a visible form, including, but not limited to email; (ix) references to “dollars”, “Dollars”
or “$” in this Agreement shall mean United States dollars; (x) reference to a particular statute, regulation
or law means such statute, regulation or law as amended or otherwise modified from time to time; (xi) any definition of or reference
to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document
as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements
or modifications set forth herein); (xii) unless otherwise stated in this Agreement, in the computation of a period of time from
a specified date to a later specified date, the word “from” means “from and including”
and the words “to” and “until” each mean “to but excluding”;
(xiii) references to “days” shall mean calendar days; and (xiv) the paragraph headings contained in
this Agreement are for convenience only, and shall in no manner be construed as part of this Agreement.

 

    	Lock-up Agreement
Shareholders of Reliant Holdings, Inc.
December 2018
Page 4 of 7

    	 

    

6.7.           

Counterparts, Effect of Facsimile, Emailed and Photocopied Signatures. This Agreement and any signed agreement or instrument
entered into in connection with this Agreement, and any amendments hereto or thereto, may be executed in one or more counterparts,
all of which shall constitute one and the same instrument. Any such counterpart, to the extent delivered by means of a facsimile
machine or by .pdf, .tif, .gif, .jpeg or similar attachment to electronic mail (email) or downloaded from a website or data room
(any such delivery, an “Electronic Delivery”) shall be treated in all manner and respects as an original
executed counterpart and shall be considered to have the same binding legal effect as if it were the original signed version thereof
delivered in person. At the request of any party, each other party shall re execute the original form of this Agreement and deliver
such form to all other parties. No party shall raise the use of Electronic Delivery to deliver a signature or the fact that any
signature or agreement or instrument was transmitted or communicated through the use of Electronic Delivery as a defense to the
formation of a contract, and each such party forever waives any such defense, except to the extent such defense relates to lack
of authenticity.

 

 

 

[Remainder
of page left intentionally blank. Signature pages follow.]

 

 

    	Lock-up Agreement
Shareholders of Reliant Holdings, Inc.
December 2018
Page 5 of 7

    	 

    

IN
WITNESS WHEREOF, parties have caused this Agreement to be signed and delivered by their duly authorized representatives as
of the date first set forth above.

 

 

	THE COMPANY:
	 	 
	RELIANT HOLDINGS, INC.
	 	 
	 	 

	By: 	/s/ Elijah May
	 	 
	Its:  	CEO

	 	 
	Printed Name:  	Elijah May

[Signature
page(s) of Shareholders follow.]

 

 

    	Lock-up Agreement
Shareholders of Reliant Holdings, Inc.
December 2018
Page 6 of 7

    	 

    

 

SHAREHOLDER:

 

 

	By:	/s/ Robert Taylor
	 	 

	Printed Name: 	Robert Taylor
	 	 
	If Entity:	 

	 	 
	Position of Signatory with Entity: 	 
	 	 

	Entity Name: 	 
	 	 

	Shares Beneficially Owned: 	200,000

 

 

 

 

    	Lock-up Agreement
Shareholders of Reliant Holdings, Inc.
December 2018
Page 7 of 7

    	 

    

 

 

	By:	/s/ Alex Van De Walle
	 	 

	Printed Name: 	Alex Van De Walle
	 	 
	If Entity:	 

	 	 
	Position of Signatory with Entity: 	 
	 	 

	Entity Name: 	 
	 	 

	Shares Beneficially Owned: 	200,000

 

 
 

    	Lock-up Agreement
Shareholders of Reliant Holdings, Inc.
December 2018
Page 7 of 7

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