Document:

Unassociated Document

    EXHIBIT
10.1

    Lock-Up
Agreement

     

    THIS LOCK-UP AGREEMENT (this
“Agreement”) is entered
into as of March 15, 2010 among Yahia Gawad (the “Gawad”), CARDIOGENICS HOLDINGS INC. a
Nevada corporation (the “Company”), CardioGenics
ExchangeCo Inc., an Ontario corporation (“ExchangeCo”) and WeirFoulds
LLP, as “trustee“, under the “Trust Agreement described below.

     

    WHEREAS, Gawad holds common
stock of CardioGenics ExchangeCo Inc., an Ontario corporation (“ExchangeCo”), which is
indirectly wholly-owned by the Company, which shares of common stock are
exchangeable at any time into shares of the Company’s common stock, par value
$0.00001 (the “Company Common Stock”) on a
one-for-one basis in accordance with the terms of that certain Voting and
Exchange Trust Agreement (the “Trust Agreement”) dated July
6, 2009 among JAG Media Holdings, Inc., ExchangeCo and Weirfoulds LPP and that
certain Support Agreement (the “Support Agreement”) dated July 6, 2009
between JAG Media Holdings, Inc. and ExchangeCo (the “Exchangeable
Shares”);

     

    WHEREAS, the Company believes
it is in the best interests of its stockholders to establish an orderly trading
market for shares of the Company Common Stock; and

     

    WHEREAS, the Company and Gawad
desire that Gawad refrain from (a) exchanging such number of Exchangeable Shares
held by Gawad as are exchangeable into 150,000,000 shares of Company Common
Stock (the “Restricted Exchangeable
Shares”) (the Restricted Exchangeable Shares and the 150,000,000 shares
of Company Common Stock into which they are exchangeable are referred to
collectively as the “Restricted Securities”) and
(b) selling the Restricted Securities in order to encourage orderly trading in
shares of the Company Common Stock;

     

    NOW THEREFORE, in
consideration of the premises and the mutual covenants contained in this
Agreement, the parties agree as follows:

     

    1.           Lock-Up of
Securities.

     

    (a)           Gawad
agrees that he will not (i) exchange any of the Restricted Exchangeable Shares
(an “Exchange”) prior to March 15,
2014 or (ii) offer to sell, contract to sell, or otherwise sell, dispose of,
loan, pledge or grant any rights with respect to (collectively, a “Disposition”) the Restricted
Securities prior to March 15, 2014; provided, however,
that nothing herein shall prevent Gawad from (x) pledging the Restricted
Securities as collateral to secure any loan taken by Gawad in an arms length
loan transaction or (y) transferring all or any portion of the Restricted
Securities to an immediate family member so long as such family member agrees,
in a writing acceptable to the Company, to be bound by the terms and
conditions of this Agreement.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    (b)           The
foregoing restriction is expressly intended to preclude Gawad from engaging in
any hedging or other transaction which is designed to or reasonably expected to
lead to or result in an Exchange or Disposition of Restricted Securities during
the lock-up period, even if the Restricted Securities would be disposed of by
someone other than Gawad.  Such prohibited hedging or other
transactions include any short sale or any purchase, sale or grant of any right
with respect to any Restricted Securities or with respect to any security that
includes, relates to or derives any significant part or its value from the
Restricted Securities.

     

    (c)           Notwithstanding
anything to the contrary in the Trust Agreement or the Support Agreement, Gawad
hereby authorizes ExchangeCo and Weirfoulds to take all action deemed by them,
in their sole discretion, to be necessary or appropriate to enforce the lock-up
provisions of this Agreement and agree and consent to (i) the entry of stop
transfer instructions with the Company’s transfer agent and registrar against
the exchange or transfer of the Restricted Securities except in compliance with
this Section 1
(Lock-Up of Securities) and (b) instructions being given to the appropriate
officer or agent of ExchangeCo and the “trustee” under the Trust Agreement
prohibiting them from effectuating any Exchange except in compliance with this
Section
1 (Lock-Up of Securities).

     

    (d)           In
the event of a “Change-in-Control” of the Company during the lock-up period,
this Agreement and the lock-up restrictions hereunder shall terminate and become
of no further force and effect immediately upon the effectiveness of such
“Change-in-Control.” For purposes of this Agreement, “Change-in-Control” shall
mean (i) any acquisition of more than 50% of the outstanding capital stock of
the Company by any unrelated third party (“Third Party“); (ii) any merger
of the Company into any Third Party; or (iii) any acquisition of substantially
all of the assets of the Company by any Third Party.

     

    2.           Actions
by ExchangeCo and Weirfoulds.

     

    (a) Notwithstanding anything to the
contrary in the Trust Agreement, WeirFoulds agrees that it will not take any
actions, as trustee under the Trust Agreement, to effectuate an Exchange or
Disposition of the Restricted Securities except in compliance with this Section
1 (Lock-Up of Securities).

     

    (a) Notwithstanding anything to the
contrary in the Trust Agreement or the Support Agreement, ExchangeCo agrees that
it will not take any actions to effectuate an Exchange or Disposition of the
Restricted Securities except in compliance with this Section
1 (Lock-Up of Securities).

     

    3.           Attorney’s Fees.

     

    If any
action at law or in equity (including arbitration) is necessary to enforce or
interpret the terms of this Agreement, the prevailing party shall be entitled to
reasonable attorneys’ fees, costs and necessary disbursements in addition to any
other relief to which such party may be entitled as determined by such court,
equity or arbitration proceeding.

     

    4.           General.

     

    4.1           Governing
Law.  This Agreement will be construed in accordance with and
governed by the laws of the Province of Ontario,
Canada, without giving effect to the conflict of law principles of such
province.

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    4.2           Successors and
Assigns.  Except as otherwise expressly provided in this
Agreement, this Agreement will be binding on, and will inure to the benefit of,
the successors and permitted assigns of the parties to this
Agreement.  Nothing in this Agreement is intended to confer upon any
party other than the parties hereto or their respective successors and assigns
any rights or obligations under or by reason of this Agreement, except as
expressly provided in this Agreement.

     

    4.3           Notices.  All
notices and other communications required or permitted hereunder will be in
writing and will be delivered by hand or sent by overnight courier, fax or
e-mail to:

     

    if
to the Company:

    

    CardioGenics
Holdings Inc.

    6295
Northam Drive

    Mississauga,
Ontario L4V 1W8

    Fax:
1.905.673.9865

    E-Mail:
ygawad@cardiogenics.com

    Attention:
Dr. Yahia Gawad, CE

     

    if
to ExchangeCo:

    

    CardioGenics
ExchangeCo Inc.

    6295
Northam Drive

    Mississauga,
Ontario L4V 1W8

    Fax:
1.905.673.9865

    E-Mail:
lsterling@cardiogenics.com

    Attention:
Linda J. Sterling, Corporate Secretary

     

    if
to WeirFoulds:

     

    WeirFoulds
LLP

    1600-130
King Street West

    The
Exchange Tower

    Toronto,
Ontario M5X 1J5

    Fax:
1.416.365.1876

    E-Mail:
bvu@weirfoulds.com

    Attention:
Binh Vu, Partner

     

    if
to Gawad:

    

    c/o
CardioGenics Inc.

    6295
Northam Drive

    Mississauga,
Ontario L4V 1W8

    Fax:
1.905.673.9865

    E-Mail:
ygawad@cardiogenics.com

    Attention:
Dr. Yahia Gawad

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    Each
party may furnish an address substituting for the address given above by giving
notice to the other parties in the manner prescribed by this Section
3.3.  All notices and other communications will be deemed to
have been given upon actual receipt by (or tender to and rejection by) the
intended recipient or any other person at the specified address of the intended
recipient.

     

    4.4           Severability.  In
the event that any provision of this Agreement is held to be unenforceable under
applicable law, this Agreement will continue in full force and effect without
such provision and will be enforceable in accordance with its
terms.

     

    4.5           Construction.  The
titles of the sections of this Agreement are for convenience of reference only
and are not to be considered in construing this Agreement.  Unless the context of
this Agreement clearly requires otherwise: (a) references to the plural include
the singular, the singular the plural, and the part the whole, (b) references to
one gender include all genders, (c) “or” has the inclusive meaning frequently
identified with the phrase “and/or,” (d) “including” has the inclusive meaning
frequently identified with the phrase “including but not limited to” or
“including without limitation,” and (e) references to “hereunder,” “herein” or
“hereof” relate to this Agreement as a whole.  Any reference in this
Agreement to any statute, rule, regulation or agreement, including this
Agreement, shall be deemed to include such statute, rule, regulation or
agreement as it may be modified, varied, amended or supplemented from time to
time.

     

    4.6           Entire
Agreement.  This Agreement embodies the entire agreement and
understanding between the parties hereto with respect to the subject matter of
this Agreement and supersedes all prior or contemporaneous agreements and
understandings other than this Agreement relating to the subject matter
hereof.

     

    4.7           Amendment and
Waiver.  This Agreement may be amended only by a written
agreement executed by the parties hereto.  No provision of this
Agreement may be waived except by a written document executed by the party
entitled to the benefits of the provision.  No waiver of a provision
will be deemed to be or will constitute a waiver of any other provision of this
Agreement.  A waiver will be effective only in the specific instance
and for the purpose for which it was given, and will not constitute a continuing
waiver.

     

    4.8           Counterparts.  This
Agreement may be in any number of counterparts, each of which will be deemed an
original, but all of which together will constitute one
instrument.

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    IN WITNESS WHEREOF, the
parties have executed this Lock-Up Agreement as of the date first written
above.

     

    
      
        
          
            
              
                
                  	 
      	
                          COMPANY

                        
	 
      	 
      
	 
      	
                          CARDIOGENICS
      HOLDINGS INC.

                        
	 
      	 
      
	 
      	
                          By:

                        	
                          
                            /s/
      

                          

                        
	 
      	 
      	
                          Name:
      Yahia Gawad

                        
	 
      	 
      	
                          Title:
      Chief Executive Officer

                        
	 
      	 
      
	 
      	
                          CARDIOGENICS
      EXCHANGECO INC.

                        
	 
      	 
      
	 
      	
                          By:

                        	
                          /s/
      

                        
	 
      	 
      	
                          Name:
      Linda J. Sterling

                        
	 
      	 
      	
                          Title:
      Corporate Secretary

                        
	 
      	 
      	 
      
	 
      	
                          WEIRFOULDS
      LLP

                        
	 
      	 
      
	 
      	
                          By:

                        	
                          
                            /s/
      

                          

                        
	 
      	 
      	
                          Name:
      Binh Vu

                        
	 
      	 
      	
                          Title:
      Partner

                        
	 
      	 
      	 
      
	 
      	 
      	
                          
                            /s/
      

                          

                        
	 
      	 
      	
                          Yahia
      GawadUnassociated Document

     

    AMENDMENT
NO.1 TO THE WARRANT AGREEMENT

    

    This
Amendment No.1, dated as of March 12, 2010 (this "Amendment"), to the Warrant
Agreement, dated as of March 7, 2008 (the "Warrant Agreement"), is entered into
by and between Hambrecht Asia Acquisition Corp., a corporation organized under
the laws of the Cayman Islands (the "Company"), with offices at 13/F Tower 2,
New World Tower, 18 Queens Road Central, Hong Kong, and Continental Stock
Transfer & Trust Company, a New York corporation ("Warrant Agent"), with
offices at 17 Battery Place, New York, New York, 10004.

    

    WHEREAS,
the Company consummated its initial public offering in March 2008, pursuant to
which the Company issued, after giving effect to the exercise of a portion of
the overallotment option, 4,239,300 units;

    

    WHEREAS,
each unit consisted of one share of ordinary share, par value $0.001 per share,
of the Company (the "Ordinary Share") and one warrant to purchase one Ordinary
Share at an exercise price of $5.00 per share (the "Public
Warrants");

    

    WHEREAS,
in conjunction with its initial public offering, the Company privately placed
1,150,000 warrants (the "Insider Warrants"), to certain investors named in the
Registration Statement, with each Insider Warrant exercisable into one Ordinary
Share at $5.00; and

    

    WHEREAS,
the Company also issued an option to Broadband Capital Management, Inc.
(“Broadband”) to purchase 280,000 units each consisting of one Ordinary Share
and one warrant to purchase One Ordinary Share at $5.00 per share (the
“Representative Warrants”, and together with the Public Warrants and the Insider
Warrants, the “Warrants”);

    

    WHEREAS,
the terms of the Warrants are governed by the Warrant Agreement and capitalized
terms used, but not defined, herein shall have the meaning given to such terms
in the Warrant Agreement;

    

    WHEREAS,
the Company has entered into that certain Share Exchange Agreement ,dated
February 11, 2010 (the "Share Exchange Agreement"), by and among the
Company, Honesty Group Holdings Limited, a company organized under the laws of
Hong Kong (“Honesty Group”), and each of the shareholders signatories thereto,
pursuant to which the shareholders of Honesty Group will contribute all of the
outstanding capital stock of Honesty Group to the Company in exchange for
11,000,000 newly issued Ordinary Shares of the Company, subject to upward
adjustment as described in the Share Exchange Agreement (the
“Acquisition”);

    

    WHEREAS,
pursuant to the Share Exchange Agreement, the Company agreed to seek the
approval of the holders of its outstanding Warrants to amend the Warrant
Agreement to provide that : (i) the exercise price for each Ordinary Share for
which the Warrant is exercised is increased from $5.00 to $8.00; (ii) the term
of each warrant is extended by one year to expire on the earlier of March 7,
2014 or the redemption of the Warrant in accordance with the Warrant Agreement;
and (iii) the holders of Public Warrants shall have the right to demand
redemption of their public Warrant by the Company at $0.50 per share upon the
consummation of the Acquisition (collectively, the "Warrant Redemption
Proposal");

    

    WHEREAS,
pursuant to Section 9.8 of the Warrant Agreement, the Warrant Agreement may be
amended upon written consent of Broadband and registered holders of a majority
of the outstanding Warrants;

    

    WHEREAS,
a majority of the outstanding Public Warrants and Insider Warrants has approved
the Warrant Redemption Proposal and given their written consent at to this
Amendment, and Broadband has given its written consent to this Amendment;
and

    

    WHEREAS,
the conditions precedent to the consummation of the transactions contemplated by
the Share Exchange Agreement other than this Amendment have been or
simultaneously herewith are satisfied and  the Closing of the
Acquisition will constitute a Business Combination within the meaning of Section
3.2 of the Warrant Agreement;

    

    NOW,
THEREFORE, in consideration of the mutual agreements contained herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound hereby, the parties hereto agree
to amend the Warrant Agreement as set forth herein:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    1. Amendment of Warrant
Agreement.

    

    (a) The first sentence of Section 3.1
of the Warrant Agreement is hereby amended to read in its entirety as
follows:

    

    Each
Warrant shall, when countersigned by the Warrant Agent, entitle the registered
holder thereof, subject to the provisions of such Warrant and of this Warrant
Agreement, to purchase from the Company the number of Ordinary Shares, at the
price of $8.00 per Ordinary Share, subject to the adjustments provided in
Section 4 hereof and in the last sentence of this Section 3.1.

    

    (b) The
first sentence of Section 3.2 of the Warrant Agreement is hereby amended to read
in its entirety as follows:

    

    A Warrant
may be exercised only during the period (“Exercise Period”) commencing on the
later of the consummation by the Company of a stock exchange, asset acquisition
or other similar business combination (“Business Combination”) (as described
more fully in the Company’s Registration Statement) or March 7, 2009, and
terminating at 5:00 p.m., New York City time on the earlier to occur of (i)
March 7, 2014 or (ii) the date fixed for redemption of the Warrants as provided
in Section 6 of this Agreement (“Expiration Date”).

    

    (c) A new
Section 6A is hereby added to the Warrant Agreement:

    

    6A.
Special Redemption in Connection with a Business Combination

    

    6A.1 Redemption of Public
Warrants.  Subject to the consummation of the Business Combination as
provided in Section 6A.2 hereof, any Public Warrants may be redeemed, at the
option of the holder thereof, at the office of the Warrant Agent at a price of
$0.50 per Warrant, by notice given to the Company at any time prior to the
special meeting of Warrantholders to be held on March 8, 2010, and any
adjournment thereof (the “Special Meeting”), provided, however, that if any
holder of Public Warrants fails to attend, in person or by proxy, the Special
Meeting, or fails to give written notice prior to the Special Meeting of such
holder’s intention to continue to hold Public Warrants on the terms of the
Warrant Agreement, as amended from time to time, such holder shall be deemed to
have demanded redemption of all the Public Warrants held by such holder on the
terms of this Section 6A. The Company may, at its sole election and without
notice to any holder, extend the period of time for an holder to elect to redeem
a Public Warrant pursuant to this Section 6A.

    

    6A.2
Conditions to Redemption.  The obligation of the Company to redeem any
Public Warrant as provided in Section 6A.1 above is conditioned upon the Company
consummating a Business Combination by March 12, 2010, or such later date as
maybe provided in the Company’s Amended and Restated Articles of Incorporation,
and receipt from the holder of the certificate representing the Public Warrant
and a properly completed letter of transmittal within twenty (20) business days
after consummation of the Business Combination.

    

    2. Form of
Warrant.  After the effective date of this Amendment, the terms
of each Public Warrant shall be amended without further action on the part of
any holder and notwithstanding the terms of any certificate representing such
Warrant, each Warrant shall have the terms set forth in the Warrant Agreement as
amended by this Amendment.

    

    3. Miscellaneous.

    

    (a)
Governing Law.  The validity, interpretation, and performance of this
Amendment and of the Public Warrants shall be governed in all respects by the
laws of the State of New York, without giving effect to conflicts of law
principles. The parties agree that all actions and proceedings arising out of
this Amendment or any of the transactions contemplated hereby shall be brought
in the United States District Court for the Southern District of New York or in
a New York State Court in the County of New York and that, in connection with
any such action or proceeding, submit to the jurisdiction of, and venue in, such
court. Each of the parties hereto also irrevocably waives all right to trial by
jury in any action, proceeding or counterclaim arising out of this Amendment or
the transactions contemplated hereby.

    

    (b)
Binding Effect.  This Amendment shall be binding upon and inure to the
benefit of the parties hereto and to their respective heirs, legal
representatives, successors and assigns.

    

    (c)
Entire Agreement.  This Amendment sets forth the entire agreement and
understanding between the parties as to the subject matter thereof and merges
and supersedes all prior discussions, agreements and understandings of any and
every nature among them. Except as set forth in this Amendment, provisions of
the Warrant Agreement which are not inconsistent with this Amendment shall
remain in full force and effect.

     

    
      
        
        

      

      
        - 2
-

        
          

        

      

      
        
        

      

    

    

    (d)
Severability.  This Amendment shall be deemed severable, and the
invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Amendment or of any other term or
provision hereof.  Furthermore, in lieu of any such invalid or
unenforceable term or provision, the parties hereto intend that there shall be
added as part of this Amendment a provision as similar in terms to such invalid
or unenforceable provision as may be possible and be valid and
enforceable.

    

    (e)
Counterparts.  This Amendment may be executed in any number of
counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall constitute but one and the same
instrument.

    

    (f) Indemnification. The
Company agrees to indemnify and save harmless the Warrant Agent from and against
all claims, liabilities, losses, damages, charges, expenses, actions or causes
of action that may be incurred by or brought against the Warrant Agent related
to the execution of this Amendment.

    

    [Signature
Page Follows]

     

    
      
        
        

      

      
        - 3
-

        
          

        

      

      
        
        

      

    

    

    IN
WITNESS WHEREOF, the undersigned have executed this First Amendment to the
Warrant Agreement as of the date first set forth below.

    

     

    
      	 	HAMBRECHT
      ASIA ACQUISITION CORP.
	 	 	 	 
	 
      	
              By:

            	
              /s/ Hao Wu

            	 
      
	 
      	 
      	
              Name:

            	
              Hao
      Wu

            	 
      
	 
      	 
      	
              Title:

            	
              CFO

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Date:
      2010.3.12

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              CONTINENTAL
      STOCK TRANSFER & TRUST COMPANY, as Warrant Agent

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              By:

            	
              /s/ Steven Nelson

            	 
      
	 
      	 
      	
              Name:

            	
              Steven
      Nelson

            	 
      
	 
      	 
      	
              Title

            	
              President

            	 
      
	 
      	 
      	 
      	 
      	 
      
	 
      	
              Date:
      3/12/10

            	 
      

    

     

    Acknowledged
and Agreed:

    BROADBAND
CAPITAL MANAGEMENT, INC.

     

    
      	
              By:

            	
              /s/ Mike Rapp

            	 
      
	 
      	
              Name:

            	
              Mike
      Rapp

            	 
      
	 
      	
              Title:

            	
              Chairman

            	 
      

    

    

    Date:
3/12/10

     

    
      
        
          Signature
Page to the Amendment

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