Document:

ex4_2.htm

    
      

    

    Exhibit
4.2

    
       

      THIS
WARRANT AND THE SHARES OF COMMON STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“SECURITIES ACT”), OR ANY STATE SECURITIES LAWS. THIS WARRANT AND THE COMMON
STOCK ISSUABLE UPON EXERCISE OF THIS WARRANT MAY NOT BE SOLD, OFFERED FOR SALE,
PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS
TO THIS WARRANT UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY
TO AMBICOM  HOLDINGS, INC., THAT SUCH REGISTRATION IS NOT
REQUIRED.

       

      
        	
                January
      ___, 2010

              	
                Warrant
      No.: ___

              

      

      

       

      COMMON
STOCK PURCHASE WARRANT

      

      Right to
Purchase ______ Shares of Common Stock of

      

      AMBICOM
HOLDINGS, INC.

      

      AMBICOM
HOLDINGS, INC., a corporation
organized under the laws of the State of Nevada (the “Company”), hereby
certifies that, for value received, __________________ ( the” Holder”) is
entitled to purchase from the Company upon the due exercise hereof, and subject
to the terms and conditions herein, from the date of issue of this warrant (the
“Warrant”) until the first anniversary following the issuance hereof (the
"Expiration Date"), all or any part of ____________________ (_______) fully paid
and non-assessable, shares of common stock, par value $0.001 per share (the
"Common Stock") of the Company, upon surrender hereof, with the exercise form
annexed hereto duly completed and executed, at the office of the Company and
upon simultaneous payment therefore in cash or by certified or official bank
check, payable to the order of the Company, at an exercise price (“Exercise
Price”) of $0.50 per share, subject to adjustment as provided
herein.

      

      1.          
  Restriction on
Transfer.  No resale of the Warrant or of any of the shares of
Common Stock underlying the exercise of the Warrant (the “Underlying Stock”)
will be made unless such resale is registered pursuant to a registration
statement filed by the Company with the Securities and Exchange Commission (the
"Commission") or made pursuant to an exemption from registration under the
Securities Act of 1933, as amended (the "Securities Act"). By acceptance of this
agreement, the Holder agrees, for itself and all subsequent holders, that prior
to making any disposition of the Warrant or of any Underlying Stock, the Holder
shall give written notice to the Company describing briefly the proposed
disposition; and no such disposition shall be made unless and until (i) the
Company has notified the Holder that, in the opinion of counsel satisfactory to
it, no registration or other action under the Securities Act is required with
respect to such disposition (which opinion may be conditioned upon the
transferee's assuming the Holder's obligation hereunder); or (ii) a registration
statement under the Securities Act has been filed by the Company and declared
effective by the Commission or other such similar action has been
taken.

      

      2.          
  Expiration of
Warrant.  Unless this Warrant and the Exercise Price are
tendered as herein provided before the close of business on the Expiration Date,
this Warrant will become wholly void and all rights and obligations set forth
herein shall expire and terminate.

      

      3.           
 Partial
Exercise.  If this Warrant is exercised for less than all the
shares that may be purchased upon the exercise hereof, the Warrant shall be
surrendered by the Holder and replaced with a new warrant of identical terms in
the name of the Holder providing for the right to purchase the number of shares
of Underlying Stock as to which this Warrant has not yet been
exercised.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      4.         
   Adjustments.  The
Exercise Price and the number of shares of Underlying Stock of the Company
issuable pursuant to such exercise is subject to adjustment as
follows:

      

      (a)           In
case the Company shall at any time declare a stock dividend or stock split on
the outstanding shares of Common Stock in shares of its Common Stock, then the
Exercise Price and number of shares of Underlying Stock shall be proportionately
adjusted so that the holder of any Warrant exercised after such time shall be
entitled to receive the aggregate number and kind of shares which if such
Warrant had been exercised immediately prior to such time, he or she would have
owned upon such exercise and been entitled to receive by virtue of such
dividend.

      

      (b)           In
case the Company shall at any time subdivide or combine the outstanding shares
of the Common Stock, the Exercise Price, initial or adjusted, in effect
immediately prior to such subdivision or combination shall forthwith be
proportionately decreased in the case of subdivision or increased in the case of
combination.

      

      (c)           In
case of any capital reorganization, sale of substantially all the assets of the
Company, or any reclassification of the shares of Common Stock of the Company,
or in case of any consolidation with or merger of the Company into or with
another corporation, then as a part of such reorganization sale
reclassification, consolidation or merger, as the case may be, provision shall
be made so that the registered owner of the Warrant evidenced hereby shall have
the right thereafter to receive upon the exercise thereof the kind and amount of
shares of stock or other securities or property which he would have been
entitled to receive if immediately prior to such reorganization,
reclassification, consolidation or merger, he had held the number of shares of
Underlying Stock which were then issuable upon the exercise of the Warrant
evidenced hereby, to the end that the provisions set forth (including provisions
with respect to adjustments of the Exercise Price) shall thereafter be
applicable, as nearly as reasonably may be, in relation to any shares of stock
or other property thereafter deliverable upon the exercise of such
Warrants.

      

      (d)           If
the Company at any time makes any spin-off, split-off, or distribution of assets
upon or with respect to its Common Stock, as a liquidating or partial
liquidating dividend, spin-off, or by way of return of capital, or other than as
dividend payable out of earnings or any surplus legally available for dividends,
the Holder then outstanding shall, upon the exercise of the Warrant, receive, in
addition to the shares of Common Stock then issuable on exercise of the Warrant,
the amount of such assets (or, at the option of the Company, a sum equal to the
value thereof at the time of the distributions) which would have been payable to
such holder had he or she exercised the Warrant immediately prior to the record
date for such distribution.

      

      (e)           When
any adjustment is required to be made to the Exercise Price, the number of
shares of Common Stock issuable shall be determined as provided for in paragraph
(f) hereof. No fractional shares of Common Stock shall be issued upon the
exercise of the Warrant.  The Company shall round all fractional
shares to the next whole share.

      

      (f)         
  Whenever the Exercise Price is adjusted as provided above, the
number of shares of Underlying Stock immediately prior to such adjustment shall
be adjusted, effective simultaneously with such adjustment, by a number of
shares of Common Stock computed by multiplying such number of shares of Common
Stock by a fraction, the numerator of which is the Exercise Price in effect
immediately prior to such adjustment and the denominator of which is the
Exercise Price in effect upon such adjustment, and the number of shares of
Underlying Stock arrived at by making said computation shall be added to the
number of shares of Underlying Stock immediately prior to such adjustment. The
total number of shares arrived at by making the computation provided for in the
immediately preceding sentence shall thereupon be the number of shares of Common
Stock issuable upon exercise or the Warrant and the Company shall forthwith
determine the new Exercise Price.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      5.     
       Notice of Adjustment. Upon any
adjustment of the number of shares and upon any adjustment of the Exercise
Price, then and in each such case the Company shall give written notice thereof
to the Holder, which notice shall state the Exercise Price and the number of
shares or other securities subject to the unexercised Warrants resulting from
such adjustment, and shall set forth in reasonable detail the method of
calculation and the facts upon which such calculation is based. Upon the request
of the Holder there shall be transmitted promptly to the Holder a statement of
the firm of independent chartered accountants retained to audit the financial
statements of the Company to the effect that such firm concurs in the Company's
calculation of the change.

      

      6.          
  Other
Notices. In case at any time after the date hereof and prior to the
Expiration Date:

      

      (a)           the
Company shall declare any dividend upon its shares payable in shares of Common
Stock;

      

      (b)           there
shall be any capital reorganization or reclassification of the capital stock of
the Company, or consolidation, amalgamation or merger of the Company with, or
sale of all or substantially all of its assets to, another corporation;
or

      

      (c)           there
shall be a voluntary or involuntary dissolution, liquidation or winding-up of
the Company,

      

      then, in
any one or more of such cases, the Company shall give to the Holder (i) at least
10 days' prior written notice of the date on which a record date shall be taken
for such dividend, distribution or subscription rights or for determining rights
to vote in respect of any such reorganization, reclassification, consolidation,
merger, amalgamation, sale, dissolution, liquidation or winding-up and (ii) in
the case of any such reorganization, reclassification, consolidation, merger,
sale, dissolution, liquidation or winding-up, at least 10 days' prior written
notice of the date when the same shall take place. Such notice in accordance
with the foregoing clause (i) shall also specify, in the case of any such
dividend, distribution or subscription rights, the date on which the holders of
shares shall be entitled thereto, and such notice in accordance with the
foregoing clause (ii) shall also specify the date on which the holders of shares
shall be entitled to exchange their shares for securities or other property
deliverable upon such reorganization, reclassification, consolidation, merger,
amalgamation, sale, dissolution, liquidation or winding-up, as the case may
be.

      

      7.         
   Delivery of
Underlying Stock.  As soon as practicable after the exercise
hereof, the Company shall deliver a certificate or certificates for the number
of full shares of Underlying Stock, all of which shall be fully paid and
nonassessable, to the person or persons entitled to receive the same provided no
sale, offer to sell or transfer of the Underlying Stock or of this Warrant, or
of any shares or other securities issued in exchange for or in respect of such
shares, shall be made unless a registration statement under the Act, with
respect to such shares, is in effect or an exemption from the registration
requirements of such Act is applicable to such shares.

      

      8.       
     Condition of Exercise of
Warrant.

      

      (a)           Unless
exercised pursuant to an effective registration statement under the Securities
Act which includes the Underlying Stock, it shall be a condition to any exercise
of this Warrant that the Company shall have received, at the time of such
exercise, a representation in writing from the recipient in the form attached
hereto as Exhibit A-1, that the Underlying Stock being issued upon exercise, are
being acquired for investment and not with a view to any sale or distribution
thereof.

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      (b)           Each
certificate evidencing the Underlying Stock issued upon exercise of this
Warrant, shall be stamped or imprinted with a legend substantially in the
following form:

      

      
        	 
      	
                "The
      securities represented by this certificate have not been registered under
      the Securities Act of 1933, as amended. The securities have been acquired
      for investment and may not be sold, transferred or assigned in the absence
      of an effective registration statement for the securities under said Act,
      or an opinion of counsel, in form, substance and scope reasonably
      acceptable to the Company, that registration is not required under said
      Act or unless sold pursuant to Rule 144 under said Act."

              	 
      

      

      

      Subject
to this Section 8, the Company may instruct its transfer agent not to register
the transfer of all or a part of this Warrant, or any of the Underlying Stock,
unless one of the conditions specified in the above legend is
satisfied.

      

      9.          
  Representations and
Warranties of the Company.  The Company represents and warrants
to the Holder as follows:

      

      (a)           This
Warrant has been duly authorized and executed by the Company and is a valid and
binding obligation of the Company enforceable in accordance with its
terms;

      

      (b)           The
Underlying Stock has been duly authorized and reserved for issuance by the
Company and, when issued in accordance with the terms hereof, will be validly
issued, fully paid and nonassessable;

      

      (c)           The
execution and delivery of this Warrant is not, and the issuance of the
Underlying Stock upon exercise of this Warrant in accordance with the terms
hereof will not be, inconsistent with the Company’s Articles of Incorporation or
By-laws, as amended.

      

      10.           Representations and Warranties by the
Holder.  The Holder represents and warrants to the Company as
follows:

      

      (a)           This
Warrant is being acquired for its own account, for investment and not with a
view to, or for resale in connection with, any distribution or public offering
thereof within the meaning of the Securities Act.  Upon exercise of
this Warrant, the Holder shall, if so requested by the Company, confirm in
writing, in the form attached hereto as Exhibit A-1, that the Underlying Stock
issuable upon exercise of this Warrant is being acquired for investment and not
with a view toward distribution or resale.

      

      (b)           The
Holder understands that the Warrant and the Underlying Stock have not been
registered under the Securities Act by reason of their issuance in a transaction
exempt from the registration and prospectus delivery requirements of the
Securities Act pursuant to Section 4(2) thereof, and that they must be held by
the Holder indefinitely, and that the Holder must therefore bear the economic
risk of such investment indefinitely, unless a subsequent disposition thereof is
registered under the Securities Act or is exempted from such
registration.

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      (c)           The
Holder has such knowledge and experience in financial and business matters that
it is capable of evaluating the merits and risks of the purchase of this Warrant
and the Underlying Stock and of protecting its interests in connection
therewith.

      

      (d)           The
Holder is able to bear the economic risk of the purchase of the Underlying Stock
pursuant to the terms of this Warrant.

      

      11.           Rights of
Stockholders.  No holder of this Warrant shall be entitled, as
a warrant-holder, to vote or receive dividends or be deemed the holder of Common
Stock or any other securities of the Company which may at any time be issuable
on the exercise hereof for any purpose, nor shall anything contained herein be
construed to confer upon the holder of this Warrant, as such, any of the rights
of a stockholder of the Company or any right to vote for the election of
directors or upon any matter submitted to stockholders at any meeting thereof,
or to give or withhold consent to any corporate action (whether upon any
recapitalization, issuance of stock, reclassification of stock, change of par
value, consolidation, merger, conveyance, or otherwise) or to receive notice of
meetings, or to receive dividends or subscription rights or otherwise until the
Warrant shall have been exercised.

      

      12.           Miscellaneous.

      

      (a)           This
Warrant and any term hereof may be changed, waived, discharged or terminated
only by an instrument in writing signed by the party against which enforcement
of such change, waiver, discharge or termination is sought.

      

      (b)           This
Warrant shall be governed by and construed in accordance with the laws of State
of Nevada without regard to principles of conflicts of laws.  Any
action brought concerning the transactions contemplated by this Warrant shall be
brought only in the state courts of New York or in the federal courts located in
the state of New York; provided, however, that the Company may choose to waive
this provision and bring an action outside the state of New York.

      

      (c)           The
invalidity or unenforceability of any provision hereof shall in no way affect
the validity or enforceability of any other provision.

      

      (d)           The
headings in this Warrant are for purposes of reference only, and shall not limit
or otherwise affect any of the terms hereof.

      

      (e)           The
terms of this Warrant shall be binding upon and shall inure to the benefit of
any successors or assigns of the Company and of the holder or holders hereof and
of the Underlying Stock.

      

      (f)           This
Warrant and the other documents delivered pursuant hereto constitute the full
and entire understanding and agreement between the parties with regard to the
subjects hereof and thereof.

      

      (g)           Upon
receipt of evidence reasonably satisfactory to the Company of the loss, theft,
destruction or mutilation of this Warrant and, in the case of any such loss,
theft or destruction, upon delivery of an indemnity agreement reasonably
satisfactory in form and amount to the Company or, in the case of any such
mutilation, upon surrender and cancellation of such Warrant, the Company at its
expense will execute and deliver to the holder of record, in lieu thereof, a new
Warrant of like date and tenor.

      

      (h)           This
Warrant and any provision hereof may be amended, waived or terminated only by an
instrument in writing signed by the Company and the Holder.

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      (i)            Receipt
of this Warrant by the Holder hereof shall constitute acceptance of and
agreement to the foregoing terms and conditions.

      

      IN WITNESS WHEREOF, the
Company has caused this Warrant to be signed by its duly authorized
officer.

      

      Dated:
January ____, 2010

      

      AMBICOM
HOLDINGS, INC.

      

      

      
        	
                By:

              	 
      	 
      
	 
      	
                Name:

              	 
      
	 
      	
                Title:

              	 
      

      

      

      

      
        	
                Warrant Holder:

              	 
      	 
      
	 
      	 
      	 
      
	
                Address:

              	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      

      

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      EXHIBIT
A

      

      NOTICE
OF EXERCISE

      

      TO:         AMBICOM HOLDINGS,
INC.

      

      1.            
The undersigned hereby elects to purchase ________ shares of Common Stock of
AMBICOM HOLDINGS, INC. pursuant to the terms of this Warrant, and tenders
herewith payment of the purchase price of such shares in full.

      

      2.          
  Please issue a certificate or certificates representing said shares
of Common Stock in the name of the undersigned or in such other name as is
specified below:

       

      
        	 
      	 
      	 
      
	 
      	
                (Name)

              	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	
                (Address)

              	 
      
	 
      	 
      	 
      

      

      

      

      3.          
  The undersigned hereby represents and warrants that the aforesaid
shares of Common Stock are being acquired for the account of the undersigned for
investment and not with a view to, or for resale, in connection with the
distribution thereof, and that the undersigned has no present intention of
distributing or reselling such shares and all representations and warranties of
the undersigned set forth in Section 8 of the attached Warrant are true and
correct as of the date hereof.  In support thereof, the undersigned
agrees to execute an Investment Representation Statement in a form substantially
similar to the form attached to the Warrant as EXHIBIT A-1.

       

      
        	 
      	 
      	 
      	 
      	 
      	 
	 
      	
                (Signature)

              
	 
      	 
      	 
      	 
      	 
      	 
	 
      	
                By:

              	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
      	 
      	 
	 
      	
                Title:

              	 
      	 
      	 
      	 
	 
      	 
      	 
      	 
      	 
      	 
	 
      	
                Date:

              	 
      	
                , 20

              	 
      	 

      

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      EXHIBIT
A-1

      

      INVESTMENT
REPRESENTATION STATEMENT

      

      
        	 
      	
                PURCHASER:

              	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                SELLER:

              	 
      	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                COMPANY:

              	 
      	
                AMBICOM
      HOLDINGS, INC.

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                SECURITIES:

              	 
      	
                COMMON
      STOCK ISSUED UPON EXERCISE OF THE WARRANTS ISSUED ON JANUARY __,
      2010

              
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                AMOUNT:

              	 
      	 
      	
                 SHARES

              	 
      
	 
      	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                DATE:

              	 	 
      	
                , 201

              	 
      	 
      

      

      

      In
connection with the purchase of the above-listed Securities, I, the Purchaser,
represent to the Seller and to the Company the following:

      

      (a)                   I
am aware of the Company’s business affairs and financial condition, and have
acquired sufficient information about the Company to reach an informed and
knowledgeable decision to acquire the Securities.  I am purchasing
these Securities for my own account for investment purposes only and not with a
view to, or for the resale in connection with, any "distribution" thereof for
purposes of the Securities Act of 1933, as amended (the "Securities
Act").

      

      (b)                   I
understand that the Securities have not been registered under the Securities Act
in reliance upon a specific exemption therefrom, which exemption depends upon,
among other things, the bona fide nature of my investment intent as expressed
herein.  In this connection, I understand that, in the view of the
Securities and Exchange Commission (the "Commission"), the statutory basis for
such exemption may be unavailable if my representation was predicated solely
upon a present intention to hold these Securities for the minimum capital gains
period specified under tax statutes, for a deferred sale, for or until an
increase or decrease in the market price of the Securities, or for a period of
one year or any other fixed period in the future.

      

      (c)                   I
further understand that the Securities must be held indefinitely unless
subsequently registered under the Securities Act or unless an exemption from
registration is otherwise available.  Moreover, I understand that the
Company is under no obligation to register the Securities.  In
addition, I understand that the certificate evidencing the Securities will be
imprinted with a legend which prohibits the transfer of the Securities unless
they are registered or such registration is not required in the opinion of
counsel for the Company.

      

      (d)                   I
am familiar with the provisions of Rule 144, promulgated under the Securities
Act, which, in substance, permits limited public resale of "restricted
securities" acquired, directly or indirectly, from the issuer thereof, in a
non-public offering subject to the satisfaction of certain
conditions.

      

      (e)                   I
further understand that in the event all of the applicable requirements of Rule
144 are not satisfied, registration under the Securities Act, or some other
registration exemption will be required; and that, notwithstanding the fact that
Rule 144 is not exclusive, the Commission has expressed its opinion that persons
proposing to sell private placement securities other than in a registered
offering and otherwise than pursuant to Rule 144 will have a substantial burden
of proof in establishing that an exemption from registration is available for
such offers or sales, and that such persons and their respective brokers who
participate in such transactions do so at their own risk.

      

      
        	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                (Signature)

              
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                By:

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                Title:

              	 
      	 
      	 
      	 
      
	 
      	 
      	 
      	 
      	 
      	 
      
	 
      	
                Date:

              	 
      	
                ,20

              	 
      	 
      

      

    

     

    2ex4_3.htm

    
      

    

    Exhibit
4.3

    
       

      AMBICOM
HOLDINGS, INC.

      

      LOCK-UP
LEAK OUT AGREEMENT

       

      This
LOCK-UP LEAK-OUT AGREEMENT (the “Agreement”) is made
as of January 15, 2010 (the “Effective Date”) by
and between AMBICOM HOLDINGS, INC., f/k/a Med Control, Inc., a Nevada
corporation (the “Company”) and the
undersigned Shareholder (as defined below).

      

      WHEREAS,
the Company, the Shareholder and together with all of the holders of the
outstanding capital stock of AmbiCom Acquisition Corp., a Nevada corporation
(“Ambicom”)
receiving a number of shares of the Company’s common stock equal to or in excess
of five percent (5%) of the Company’s issued and outstanding shares of Common
Stock (each a “Shareholder” and
collectively, the “Shareholders”)
anticipate the consummation of a Share Exchange Agreement (“Share Exchange
Agreement”) on the Effective Date, pursuant to which Ambicom will become
a wholly-owned subsidiary of the Company (the “Share
Exchange”);

      

      WHEREAS,
as a condition to the consummation of the Share Exchange, the Shareholders have
agreed to enter into this Agreement to ensure the establishment of an orderly
trading market for the Company’s common stock following the closing of the Share
Exchange;

      

      NOW,
THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement,
and for other good and valuable consideration, the receipt and adequacy of which
are hereby acknowledged, the Company and the undersigned Shareholder agree as
follows:

      

      1.           
 One-Year
Prohibition on Sales or Transfers. The Shareholder, including the
Shareholder’s Affiliated Entities (as defined below), hereby agrees that for a
period of one (1) year from the Effective Date (the “Lock-Up Period”), the
Shareholder will not offer, sell, contract to sell, pledge, give, donate,
transfer or otherwise dispose of, directly or indirectly, any shares of the
Company’s common stock $0.01 par value per share (the “Common Stock”) or
securities convertible into or exercisable for Common Stock issued to the
Shareholder pursuant to the Share Exchange (the “Lock-Up Shares”) or
securities or rights convertible into or exchangeable or exercisable for any
Lock-Up Shares, enter into a transaction which 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 or voting consequences of ownership of such
securities, whether any such aforementioned transaction is to be settled by
delivery of the Lock-Up Shares or such other securities, in cash or otherwise,
or publicly disclose the intention to make any such offer, sale, pledge or
disposition, or to enter into any such transaction, swap, hedge or other
arrangement (the “Lock-Up Agreement”).
As used in this Agreement “Affiliated Entities”
shall mean any legal entity, including any corporation, limited liability
company, partnership, not-for-profit corporation, estate planning vehicle or
trust, which is directly or indirectly owned or controlled by the Shareholder or
his or her descendants or spouse, of which such Shareholder or his or her
descendants or spouse are beneficial owners, or which is under joint control or
ownership with any other person or entity subject to a lock-up agreement
regarding the Company’s stock with terms substantially identical to this
Agreement.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      2.          
  Post-Lock-Up Restrictions on
Sales—Volume Limitations – Leak-Out. After the expiration of the Lock-Up
Period and for the one (1) year period thereafter, the aggregate number of
Lock-Up Shares that may be sold or otherwise Transferred (as defined below) by
the Shareholder (taking into account sales and other Transfers (a) directly from
the Shareholder, (b) by the Shareholder’s Affiliated Entities and (c) by any
holder of Lock-Up Shares previously sold or otherwise Transferred to such holder
by the Shareholder after the Effective Date (but taking into account only
Lock-Up Shares transferred to the holder by the Shareholder)) shall not exceed
(i) 10% of the average monthly trading volume for the Common Stock on the
relevant trading market as reported by Bloomberg L.P. for any Shareholder who is
not an “affiliate” of the Company as such term is defined under the Securities
Act of 1933, as amended (the “Act”), and (ii) the
greater of (x) 5% or (y) the maximum amount permitted under applicable law or
regulation for any Shareholder who is an “affiliate” (as adjusted for any stock
split, combination or the like) in any 30-day period (the “Volume
Limitations”).

       

      3.          
  Allowable
Sales During Lock-Up Period and Thereafter. Notwithstanding the terms of
Section 1
above, during the Lock-Up Period the Shareholder may:

       

      (a)           Transfer
Lock-Up Shares to the Company or its designee.

      

      (b)           Make
a bona fide charitable donation to a non-profit, religious organization or
institution that is independent of the Shareholder (a “Charitable
Donee”).

      

      (c)           Grant
and maintain a bona fide lien or security interest in, pledge, hypothecate or
encumber (collectively, a “Pledge”) any Lock-Up
Shares beneficially owned by him, her or it to a nationally or internationally
recognized financial institution with assets of not less than $10 billion (an
“Institution”)
in connection with a loan to the Shareholder; provided, however, that (i) the
Shareholder (treating the Shareholder and all Shareholder’s Affiliated Entities
in the aggregate as one entity) shall not Pledge Lock-Up Shares to secure loans
in the aggregate in excess of One Million Dollars ($1,000,000); (ii) the
Shareholder gives the Company’s Secretary 5 days’ prior written notice that he,
she or it intends to Pledge Lock-Up Shares to an Institution pursuant to this
Section 3(c); and (iii) the Institution agrees in writing at or prior to the
time of such Pledge that the Company shall receive timely notice of any margin
call or event of default and shall have the right to satisfy any margin call or
cure any event of default by the Shareholder in connection with any loan to
which the Pledge relates by purchasing any or all Lock-Up Shares Pledged at a
price equal to 50% of the then-current market value (as calculated using the
average closing sales price of the Company’s Common Stock for the 15 immediately
previous trading days) on the date of the margin call or event of default, such
election by the Company to be shown by written notice to the Institution and
payment within 5 business days of notice being received by the Company, with
transfer of the Lock-Up Shares to the Company to be completed immediately upon
receipt of such payment. In the event that the Company’s payment for the Lock-Up
Shares exceeds the amount owed to the Institution by the Shareholder, any excess
amount shall be paid promptly by the Institution to the Shareholder. In the
event that both the Company and the Shareholder attempt to make payment to
satisfy any margin call or event of default, the first to make full payment
shall be deemed to have completed such purchase or cure (as the case may be),
and any payments received by the Institution from the other party shall be
promptly returned. This paragraph may not be relied upon for any non-bona fide
loan or other form of indirect or disguised sale.  The Shareholder
hereby appoints and constitutes each of John Hwang and  Christopher L.
Cella, with full power of substitution, as attorneys-in-fact (each an “Attorney-in–Fact”) to
act in the Shareholder’s name, place and stead, to transfer and convey to the
Company all Lock-Up Shares purchased by the Company pursuant to this Section
3(c) and to execute and deliver all stock powers, endorse all stock certificates
and execute and deliver any and all instruments, documents and agreements
necessary to transfer all Lock-Up Shares purchased by the Company pursuant to
this Section 3(c). The foregoing power of attorney is coupled with an interest
and is irrevocable. The Shareholder agrees to indemnify and hold the Company and
each Attorney-in-Fact, or their appointees, harmless from and against any and
all liabilities, claims, damages and expenses (including attorney’s fees and
court costs) incurred by the Company or an Attorney-in-Fact, or their
appointees, in connection with the exercise by the Company of its rights
hereunder.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      (d)           Transfer
Lock-Up Shares to one of the Shareholder’s Affiliated Entities, so long as such
Shareholder’s Affiliated Entity agrees in an additional written instrument
delivered to the Company to be subject to the terms and conditions of this
Agreement.

       

      (e)           In
the event that the Shareholder is subject, on the Effective Date, to any legally
binding, written “put” or “call” option (the “Option”), the
Shareholder shall furnish a copy of such written Option to the Chief Financial
Officer or General Counsel of the Company prior to or at the time of signing
this Agreement. In such event, the provisions of this Agreement shall not
prevent the Shareholder from honoring his or her “put” rights or “call”
obligations pursuant to such Option and the Company will, upon request, furnish
any reasonably required written waiver of the applicability of this Agreement to
the extent necessary to allow the Shareholder to meet his or her
obligation.

       

      (f)         
  In a private sale transaction not effected on a trading
market.

       

      4.         
   Application of this
Agreement to Shares Sold or Otherwise Transferred. So long as such sales
or other Transfers are made in compliance with the Volume Limitations and other
requirements of this Agreement, Lock-Up Shares sold in the public market shall
thereafter not be subject to the restrictions on sale or other Transfer
contained in this Agreement. Lock-Up Shares that are properly transferred to a
Charitable Donee or Lock-Up Shares sold or otherwise Transferred in private
sales or other Transfers pursuant to an Option shall thereafter not be subject
to the restrictions on sale or other Transfer contained in this Agreement.
Transfers of Lock-Up Shares or those sold in a private transaction pursuant to
Section 3(f) shall continue to be subject to the Volume Limitations and other
terms of this Agreement as described in that Section. Transferred Lock-Up Shares
may continue to be subject to restrictions imposed by federal or state
securities laws and contractual agreements outside of this
Agreement.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      5.         
   Attempted Transfers.
Any attempted or purported sale or other Transfer of any Lock-Up Shares by the
Shareholder in violation or contravention of the terms of this Agreement shall
be null and void ab
initio. The Company shall, and shall instruct its transfer agent to,
reject and refuse to transfer on its books any Lock-Up Shares that may have been
attempted to be sold or otherwise Transferred in violation or contravention of
any of the provisions of this Agreement and shall not recognize any person or
entity

       

      6.         
   Waiver of Claims. The
Shareholder hereby irrevocably waives any and all known or unknown claims and
rights, whether direct or indirect, fixed or contingent, that the Shareholder
may now have or that may hereafter arise against the Company or any of its
affiliates, or any of its respective officers, directors, shareholders,
employees, agents, attorneys or advisors arising out of the negotiation,
documentation of this Agreement.

       

      7.          
  Consent or
Approval of Company. Whenever the waiver, consent or approval of the
Company is required herein or is desired to amend this Agreement or waive any
requirement in this Agreement, such consent, approval, amendment or waiver may
only be given by the Company if and when approved by a majority of the Company’s
then independent directors; provided, however, that the independent directors
may delegate this authority to executive officers of the Company if the
Shareholder seeking or benefiting from the consent, approval, amendment or
waiver is not serving as an officer or director of the Company.

       

      8.            
Acknowledgement of
Representation. The Shareholder represents and warrants to the Company
that the Shareholder was or had the opportunity to be represented by legal
counsel and other advisors selected by Shareholder in connection with the
Exchange Agreement and has been represented by legal counsel and other advisors
selected by the Shareholder in connection with this Agreement. The Shareholder
has reviewed this Agreement with his, her or its legal counsel and other
advisors and understands the terms and conditions hereof. The Shareholder
understands, acknowledges and confirms that Christopher L. Cella of Cella Lange
& Cella, LLP represented only Ambicom in connection with this Agreement.
Peter Campitiello of Tarter Krinsky & Drogin, LLP represented only the
Company in connection with this Agreement.

       

      9.           
 Legends on
Certificates. All Lock-Up Shares now or hereafter owned by the
Shareholder, except any shares purchased in open market transactions by
Shareholders that are not affiliates (as such term is defined under securities
laws) of the Company, shall be subject to the provisions of this Agreement and
the certificates representing such Lock-Up Shares shall bear the following
legends:

       

      THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY STATE SECURITIES LAWS.
THEY MAY NOT BE SOLD, ASSIGNED, PLEDGED OR OTHERWISE TRANSFERRED FOR VALUE
UNLESS THEY ARE REGISTERED UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS OR UNLESS THE CORPORATION RECEIVES AN OPINION OF COUNSEL SATISFACTORY TO
IT, OR OTHERWISE SATISFIES ITSELF, THAT AN EXEMPTION FROM REGISTRATION IS
AVAILABLE.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      THE SALE,
ASSIGNMENT, GIFT, BEQUEST, TRANSFER, DISTRIBUTION, PLEDGE, HYPOTHECATION OR
OTHER ENCUMBRANCE OR DISPOSITION OF THE SHARES REPRESENTED BY THIS CERTIFICATE
IS RESTRICTED BY AND MAY BE MADE ONLY IN ACCORDANCE WITH THE TERMS OF A LOCK-UP
AGREEMENT, A COPY OF WHICH MAY BE EXAMINED AT THE OFFICE OF THE
CORPORATION.

       

      10.           Termination of Lock-Up
Agreement. This Agreement shall terminate
upon         the merger or
consolidation of the Company with a corporation or other entity upon
consummation of which the Shareholder and all other persons or entities that are
party to a lock-up agreement regarding the Company’s stock with terms
substantially identical to this Lock-Up Agreement immediately thereafter own in
the aggregate less than 25% of the total voting power of the surviving or
resulting corporation.

       

      11.           Governing Law. This
Agreement shall be governed by and construed in accordance with the internal
laws of the State of California.

       

      12.           Notices. Any notices
and other communications given pursuant to this Agreement shall be in writing
and shall be effective upon delivery by hand or on the fifth (5th) day after
deposit in the mail if sent by certified or registered mail (postage prepaid and
return receipt requested) or on the next business day if sent by a nationally
recognized overnight courier service (appropriately marked for overnight
delivery) or upon transmission if sent by facsimile (with immediate electronic
confirmation of receipt in a manner customary for communications of such type).
Notices are to be addressed as follows:

       

      If to the
Company, to

      

      AmbiCom
Holdings, Inc.

      405 River
Oaks Parkway

      San Jose,
CA 95134-1916

      (___)
___-____- Phone

      (___)
___-____ - Fax

      Attention:
John Hwang, President

      

       

      If to the
Shareholder, to the address set forth on the signature page attached
hereto

       

      13.           Binding Effect. This
Agreement will be binding upon and inure to the benefit of the Company, its
successors and assigns and to the Shareholder and their respective permitted
heirs, personal representatives, successors and assigns.

       

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      14.           Entire Understanding.
This Agreement sets forth the entire agreement and understanding of the parties
hereto in respect of the subject matter hereof and the transactions contemplated
hereby and supersedes all prior written and oral agreements, arrangements and
understandings relating to the subject matter hereof. This Agreement may not be
changed orally, but may only be changed by an agreement in writing signed by the
party against whom enforcement of any waiver, change, modification or discharge
is sought.

       

      15.           Remedies. The parties
hereto acknowledge that money damages are not an adequate remedy for violations
of this Agreement and that any party may, in such party’s sole discretion, apply
to any court of competent jurisdiction for specific performance or injunctive
relief or such other relief as such court may deem just and proper in order to
enforce this Agreement or prevent any violation hereof and, to the extent
permitted by applicable law, each party hereto waives any objection to the
imposition of such relief. All rights, powers and remedies provided under this
Agreement or otherwise available in respect hereof, whether at law or in equity,
shall be cumulative and not alternative, and the exercise or beginning of the
exercise of any thereof by any party hereto shall not preclude the simultaneous
or later exercise of any other such right, power or remedy by such
party.

       

      16.           Counterparts. This
Agreement may be executed by facsimile and in any number of counterparts, each
of which shall be deemed to be an original, but all of which together shall
constitute one and the same instrument. Each counterpart may consist of a number
of copies each signed by less than all, but together signed by all, of the
parties hereto.

       

      IN
WITNESS WHEREOF, this Agreement has been signed as of the date first above
written.

       

      AMBICOM
HOLDINGS, INC.

       

      
        	
                By:

              	 
      	 
      
	
                Name:

              
	
                Title:

              

      

      

       

      [REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK

      SIGNATURE
PAGE FOR SHAREHOLDER FOLLOW]

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      IN
WITNESS WHEREOF, the undersigned have caused this Lock-Up
Leak-Out  Agreement to be duly executed by their respective authorized
signatories as of the date first indicated above.

       

      Name of
Shareholder: __________________________________

       

      Signature
of Authorized Signatory of Shareholder:
_______________________________

      

      Name of
Authorized Signatory: __________________________________

      

      Title of
Authorized Signatory: ___________________________________

      

      Email
Address of Shareholder: ___________________________________

      

      Facsimile
Number of Shareholder: __________________________________

      

      Address
for Notice of Shareholder: __________________________________

      

      Address
for Delivery of Shares for Shareholder (if not same as address for
notice):

      

      
        
          

        

      

      

      SHAREHOLDER’S SPOUSE (as
applicable):

       

      The
undersigned spouse of the Shareholder has read and hereby approves the foregoing
Agreement and agrees to be irrevocably bound by the Agreement and further agrees
that any community property interest shall be similarly bound by the Agreement.
I hereby irrevocably appoint my spouse as my attorney-in-fact with respect to
any amendment or exercise of any rights under the Agreement.

      Signature:

       

      Name:
__________________________________

       

      Signature
of Authorized Signatory of Spouse:
__________________________________

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