Document:

Exhibit 10.2

 

EXECUTION COPY

 

WAIVER AGREEMENT

 

This Waiver Agreement
(this “Agreement”) is made as of October 10, 2018 by and among (i) MTech Acquisition Corp., a
Delaware corporation (“Purchaser”), (ii) MJ Freeway LLC, a Colorado limited liability company
(the “Company”), and (iii) MTech Sponsor LLC, a Florida limited liability company (“Holder”)
of the Company. Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the
Merger Agreement (as defined below).

 

WHEREAS, on
or about the date hereof, Purchaser, MTech Acquisition Holdings Inc., a Delaware corporation and a wholly-owned subsidiary of Purchaser
(“Pubco”), MTech Purchaser Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco
(“Purchaser Merger Sub”), MTech Company Merger Sub LLC, a Colorado limited liability company and a wholly-owned
subsidiary of Pubco (“Company Merger Sub”), the Company and the other parties named therein, have entered
into that certain Agreement and Plan of Merger (as amended from time to time in accordance with the terms thereof, the “Merger
Agreement”), pursuant to which, among other matters, (i) Purchaser Merger Sub will merge with and into Purchaser,
with Purchaser continuing as the surviving entity (the “Purchaser Merger”), and with security holders
of Purchaser receiving substantially equivalent securities of Pubco, and (ii) Company Merger Sub will merge with and into the Company,
with the Company continuing as the surviving entity (the “Company Merger”, and together with the Purchaser
Merger, the “Mergers”), and with equity holders of the Company receiving shares of common stock of Pubco,
and as a result of which Mergers, among other matters, Purchaser and the Company will become wholly-owned subsidiaries of Pubco
and Pubco will become a publicly traded company, all upon the terms and subject to the conditions set forth in the Merger Agreement
and in accordance with the applicable provisions of the DGCL and the Colorado Act;

 

WHEREAS, the
Board of Directors of Purchaser has (a) approved and declared advisable the Merger Agreement, the Ancillary Documents, the Mergers
and the other transactions contemplated by the Merger Agreement (collectively with the Mergers, the “Transactions”),
(b) determined that the Transactions are fair to and in the best interests of Purchaser and its stockholders, and (c) recommended
the approval and the adoption by Purchaser’s stockholders of the Merger Agreement, the Ancillary Documents, the Mergers and
the other Transactions; and

 

WHEREAS, the
undersigned, MTech Sponsor LLC, is the holder of all of the outstanding shares of Class B Common Stock, par value $0.0001 per share
(“Founders’ Shares”), of Purchaser;

 

WHEREAS, Article
FOURTH, Section B(b)(ii) of Purchaser’s Amended and Restated Certificate of Incorporation provides, among other things, that
the Founders’ Shares will automatically convert into shares of Class A Common Stock, par value $0.0001 per share, (“Class
A Common Stock”) of Purchaser upon consummation of an initial business combination, subject to adjustment if additional
shares of Class A Common Stock, or equity-linked securities, are issued or deemed issued in excess of the amounts sold in Purchaser’s
initial public offering (the “Anti-dilution Right”), excluding certain exempted issuances;

 

WHEREAS, as
a condition to the willingness of the Company to enter into the Merger Agreement, and as an inducement and in consideration therefor,
and in view of the valuable consideration to be received by Holder thereunder, and the expenses and efforts to be undertaken by
Purchaser and the Company to consummate the Transactions, Purchaser, the Company and Holder desire to enter into this Agreement
in order for Holder to waive the Anti-dilution Right in connection with the Mergers, subject to and effective upon the consummation
of the Mergers.

 

    1 

     

    

 

NOW THEREFORE,
in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending
to be legally bound hereby, the undersigned hereby agrees as follows:

 

1.            Waiver. Subject to and conditioned upon the consummation of the Transactions, the undersigned Holder, solely in connection
with and only for the purpose of the proposed Transactions, hereby waives the Anti-dilution Right pursuant to Article FOURTH, Section
B(b)(ii) of the Company’s Amended and Restated Certificate of Incorporation. All other terms related to the Founders’
Shares shall remain in full force and effect, except as modified as set forth directly above, which modification shall be effective
only upon the consummation of the Transactions.

 

2.            Miscellaneous.

 

(a)          Termination. Notwithstanding anything to the contrary contained herein, this Agreement shall automatically terminate,
and none of Purchaser, the Company or Holder shall have any rights or obligations hereunder, upon the earliest to occur of (i)
the mutual written consent of Purchaser, the Company and Holder, and (ii) the date of termination of the Merger Agreement in accordance
with its terms. The termination of this Agreement shall not prevent any party hereunder from seeking any remedies (at law or in
equity) against another party hereto or relieve such party from liability for such party’s breach of any terms of this Agreement
prior to such termination. Notwithstanding anything to the contrary herein, the provisions of this Section 2(a) shall survive
the termination of this Agreement. 

 

(b)          Binding Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the
benefit of the parties hereto and their respective permitted successors and assigns. This Agreement and all obligations of Holder
are personal to Holder and may not be assigned, transferred or delegated by Holder at any time without the prior written consent
of Purchaser and the Company, and any purported assignment, transfer or delegation without such consent shall be null and void
ab initio. Each of the Company and Purchaser may freely assign any or all of its rights under this Agreement, in whole or in part,
to any successor entity (whether by merger, consolidation, equity sale, asset sale or otherwise) without obtaining the consent
or approval of Holder.

 

(c)          Third Parties. Nothing contained in this Agreement or in any instrument or document executed by any party in connection
with the transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any
person that is not a party hereto or thereto or a successor or permitted assign of such a party.

 

(d)          Governing Law; Jurisdiction. This Agreement and any dispute or controversy arising out of or relating to this Agreement
shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of law
principles thereof. All Actions arising out of or relating to this Agreement shall be heard and determined exclusively in any state
or federal court located in New York, New York (or in any appellate courts thereof) (the “Specified Courts”).
Each party hereto hereby (i) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising
out of or relating to this Agreement brought by any party hereto and (ii) irrevocably waives, and agrees not to assert by
way of motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the
above-named courts, that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient
forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced
in or by any Specified Court. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents to the service
of the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated
by this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth or referred to in Section 2(g). Nothing in this Section 2(d) shall affect the right
of any party to serve legal process in any other manner permitted by applicable law.

 

    2 

     

    

 

(e)          WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION
WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT
FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 2(e).

 

(f)           Interpretation. The titles and subtitles used in this Agreement are for convenience only and are not to be considered
in construing or interpreting this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in
this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and
verbs shall include the plural and vice versa; (ii) “including” (and with correlative meaning “include”)
means including without limiting the generality of any description preceding or succeeding such term and shall be deemed in each
case to be followed by the words “without limitation”; (iii) the words “herein,” “hereto,”
and “hereby” and other words of similar import in this Agreement shall be deemed in each case to refer to this Agreement
as a whole and not to any particular section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”.
The parties have participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity
or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto,
and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision
of this Agreement.

 

(g)          Notices. All notices, consents, waivers and other communications hereunder shall be
in writing and shall be deemed to have been duly given when delivered (i) in person, (ii) by facsimile or other electronic means,
with affirmative confirmation of receipt, (iii) one Business Day after being sent, if sent by reputable, nationally recognized
overnight courier service or (iv) three (3) Business Days after being mailed, if sent by registered or certified mail, pre-paid
and return receipt requested, in each case to the applicable party at the following addresses (or at such other address for a party
as shall be specified by like notice):

 

	
         

        If to Purchaser, to:

         

        MTech Acquisition Corp.

        10124 Foxhurst Court

        Orlando, Florida 32836

        Attn: Tahira Rehmatullah

        Facsimile No.: (407) 370-3097

        Telephone No.: (407) 345-8332

        Email:  tahira@mtechacquisitioncorp.com

         
	
         

        With a copy to (which shall not constitute notice):

         

        Ellenoff Grossman & Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105

        Attn:     Stuart Neuhauser, Esq.

                      Matthew A. Gray, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email:    sneuhauser@egsllp.com

                      mgray@egsllp.com

         

 

    3 

     

    

 

	
         

        If to the Company, to:

         

        MJ Freeway LLC

        1601 Arapahoe Street, Suite 900

        Denver, CO 80202

        Attn: Jessica Billingsley, CEO

        Facsimile No.: (888) 932-6537

        Telephone No.: (888) 932-6537

        Email:  jessica@mjfreeway.com

         
	
         

        With a copy to (which shall not constitute notice):

         

        Graubard Miller

        The Chrysler Building

        405 Lexington Avenue - 11th Floor

        New York, New York 10174

        Attn:               David Alan Miller, Esq.

        Facsimile No.: (212) 818-8881

        Telephone No.: (212) 818-8661

        Email:              DMiller@graubard.com

         

	
         

        If to Holder, to: 

         

        MTech Sponsor LLC

        10124 Foxhurst Court

        Orlando, FL 32836

        Attn: Scott Sozio

        Facsimile No.: (407) 370-3097

        Telephone No.: (407) 345-8332

        Email:  scott@vandykeholdings.com

         
	
         

        With a copy to (which shall not constitute notice):

         

        Ellenoff Grossman & Schole LLP

        1345 Avenue of the Americas, 11th Floor

        New York, New York 10105

        Attn:               Stuart Neuhauser, Esq.

                                Matthew A. Gray, Esq.

        Facsimile No.: (212) 370-7889

        Telephone No.: (212) 370-1300

        Email:              sneuhauser@egsllp.com

                                mgray@egsllp.com

         

 

(h)          Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent
of Purchaser, the Company and the Holder. No failure or delay by a party in exercising any right hereunder shall operate as a waiver
thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall
be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

(i)           Severability. In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction,
such provision shall be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid,
legal and enforceable, and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be
affected or impaired thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other
jurisdiction. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the
parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out,
so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.

 

(j)           Specific Performance. Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms
that in the event of a breach of this Agreement by Holder, money damages will be inadequate and Purchaser and the Company will
have not adequate remedy at law, and agree that irreparable damage would occur in the event that any of the provisions of this
Agreement were not performed by Holder in accordance with their specific terms or were otherwise breached. Accordingly, Purchaser
and the Company shall be entitled to an injunction or restraining order to prevent breaches of this Agreement by Holder and to
enforce specifically the terms and provisions hereof, without the requirement to post any bond or other security or to prove that
money damages would be inadequate, this being in addition to any other right or remedy to which such party may be entitled under
this Agreement, at law or in equity.

 

    4 

     

    

 

(k)          Expenses. Each party shall be responsible for its own fees and expenses (including the fees and expenses of investment
bankers, accountants and counsel) in connection with the entering into of this Agreement, the performance of its obligations hereunder
and the consummation of the transactions contemplated hereby; provided, that in the event of any Action arising out of or relating
to this Agreement, the non-prevailing party in any such Action will pay its own expenses and the reasonable documented out-of-pocket
expenses, including reasonable attorneys’ fees and costs, reasonably incurred by the prevailing party.

 

(l)           Further Assurances. From time to time, at another party’s request and without further consideration, each party
shall execute and deliver such additional documents and take all such further action as may be reasonably necessary or desirable
to consummate the transactions contemplated by this Agreement.

 

(m)         Entire Agreement. This Agreement (together with the Merger Agreement to the extent referred to herein) constitutes
the full and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written
or oral agreement relating to the subject matter hereof existing between the parties is expressly canceled; provided,
that, for the avoidance of doubt, the foregoing shall not affect the rights and obligations of the parties under the Merger Agreement
or any Ancillary Document. Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies of
Purchaser or the Company, or any of the obligations of Holder under any other agreement between Holder and either Purchaser or
the Company, respectively, or any certificate or instrument executed by Holder in favor of Purchaser or the Company, and nothing
in any other agreement, certificate or instrument shall limit any of the rights or remedies of Purchaser or the Company or any
of the obligations of Holder under this Agreement.

 

(n)          Counterparts; Facsimile. This Agreement may also be executed and delivered by facsimile or electronic signature or
by email in portable document format in two or more counterparts, each of which shall be deemed an original, but all of which together
shall constitute one and the same instrument.

 

[Remainder of Page Intentionally Left
Blank; Signature Page Follows]

 

    5 

     

    

 

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

 

	 	Purchaser:
	 	 
	 	MTECH ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Scott
    Sozio
	 	Name: Scott Sozio
	 	Title: CEO
	 	 
	 	The Company:
	 	 
	 	MJ FREEWAY LLC
	 	 	 
	 	By:	/s/ Jessica
    Billingsley
	 	Name: Jessica Billingsley
	 	Title: CEO
	 	 
	 	Holder:
	 	 
	 	MTECH SPONSOR LLC
	 	 	 
	 	By:	/s/ Scott
    Sozio
	 	Name: Scott Sozio
	 	Title: Authorized Signor

 

{Signature Page to Waiver Agreement}Exhibit 10.3

 

FINAL FORM

 

FORM OF LOCK-UP AGREEMENT

 

 THIS LOCK-UP
AGREEMENT (this “Agreement”) is made and entered into as of [●] by and among (i) MTech Acquisition
Holdings Inc., a Delaware corporation which will be known after the consummation of the transactions contemplated by the Merger
Agreement (as defined below) (the “Closing”) as “[__________]” (together with its successors,
“Pubco”), (ii) MTech Sponsor LLC, a Florida limited liability company in the capacity under the
Merger Agreement as the Purchaser Representative (including any successor Purchaser Representative appointed in accordance with
the Merger Agreement, the “Purchaser Representative”), and (iii) the undersigned (“Holder”).
Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement.

 

WHEREAS, Pubco
and the Purchaser Representative are parties to that certain that Agreement and Plan of Merger, dated as of October 10, 2018 (as
amended from time to time in accordance with the terms thereof, the “Merger Agreement”), by and among
(i) MTech Acquisition Corp., a Delaware corporation and, prior to giving effect to the Closing, the parent entity of Pubco (together
with its successors, including the Purchaser Surviving Subsidiary, “Purchaser”), (ii) Pubco, (iii) MTech
Purchaser Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Pubco (“Purchaser Merger Sub”),
(iv) MTech Company Merger Sub LLC, a Colorado limited liability company and a wholly-owned subsidiary of Pubco (“Company
Merger Sub”), (v) the Purchaser Representative, (vi) MJ Freeway LLC, a Colorado limited liability company (together
with its successors, including the Company Surviving Subsidiary (as defined in the Merger Agreement, the “Company”),and
(vii) Harold Handelsman, in the capacity as Seller Representative thereunder, pursuant to which, subject to the terms and conditions
thereof, among other matters, (a) Purchaser Merger Sub will merge with and into Purchaser, with Purchaser continuing as the surviving
entity (the “Purchaser Merger”), and with security holders of Purchaser receiving substantially equivalent
securities of Pubco, and (b) Company Merger Sub will merge with and into the Company, with the Company continuing as the surviving
entity (the “Company Merger”, and together with the Purchaser Merger, the “Mergers”
and, collectively with the other transactions contemplated by the Merger Agreement, the “Transactions”),
and with equity holders of the Company, including Seller, receiving shares of common stock of Pubco (subject to the withholding
of the Escrow Shares being deposited in the Escrow Account in accordance with the terms and conditions of the Merger Agreement),
and as a result of which Mergers, among other matters, Purchaser and the Company will become wholly-owned subsidiaries of Pubco
and Pubco will become a publicly traded company, all upon the terms and subject to the conditions set forth in the Merger Agreement
and in accordance with the applicable provisions of the DGCL and the Colorado Act;

 

WHEREAS, immediately
prior to the Closing, Holder is a holder of the Company Units in such amounts as set forth underneath Holder’s name on the
signature page hereto; and

 

WHEREAS, pursuant
to the Merger Agreement, and in view of the valuable consideration to be received by Holder thereunder, the parties desire to enter
into this Agreement, pursuant to which the Merger Consideration securities to be received by Holder in the Transactions (all such
securities, together with any securities paid as dividends or distributions with respect to such securities or into which such
securities are exchanged or converted, the “Restricted Securities”) shall become subject to limitations
on disposition as set forth herein.

 

     1

    

    

 

NOW, THEREFORE,
in consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending
to be legally bound hereby, the parties hereby agree as follows:

 

1.            
Lock-Up Provisions. 

 

(a)         Holder hereby agrees not to, during the period commencing from the Closing and (A) with respect to fifty percent (50%) of
the Restricted Securities, ending on the earlier of (x) one (1) year after the date of the Closing, and (y) the date after the
Closing on which Pubco consummates a liquidation, merger, share exchange or other similar transaction with an unaffiliated third
party that results in all of Pubco’s shareholders having the right to exchange their equity holdings in Pubco for cash, securities
or other property (a “Subsequent Transaction”) and (B) with respect to the remaining fifty percent (50%)
of the Restricted Securities, ending on the earliest of (x) the one (1) year anniversary of the date of the Closing, (y) the date
after the Closing on which Pubco consummates a Subsequent Transaction and (z) the date on which the closing sale price of Pubco
Common Stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations and recapitalizations)
for any twenty (20) trading days within any thirty (30) trading day period (the “Lock-Up Period”): (i)
lend, offer, pledge, hypothecate, encumber, donate, assign, sell, contract to sell, sell any option or contract to purchase, purchase
any option or contract to sell, grant any option, right or warrant to purchase, or otherwise transfer or dispose of, directly or
indirectly, any Restricted Securities, (ii) enter into any swap or other arrangement that transfers to another, in whole or
in part, any of the economic consequences of ownership of the Restricted Securities, or (iii) publicly disclose the intention
to do any of the foregoing, whether any such transaction described in clauses (i), (ii) or (iii) above is to be settled by delivery
of Restricted Securities or other securities, in cash or otherwise (any of the foregoing described in clauses (i), (ii) or (iii),
a “Prohibited Transfer”). The foregoing sentence shall not apply to the transfer of any or all of the
Restricted Securities owned by Holder (other than Escrow Shares until such Escrow Shares are disbursed to Holder from the Escrow
Account in accordance with the terms and conditions of the Merger Agreement and the Escrow Agreement) (I) by gift, will or intestate
succession upon the death of Holder, (II) to any Permitted Transferee or (III) pursuant to a court order or settlement agreement
related to the distribution of assets in connection with the dissolution of marriage or civil union; provided, however, that in
any of cases (I), (II) or (III) it shall be a condition to such transfer that the transferee executes and delivers to Pubco an
agreement stating that the transferee is receiving and holding the Restricted Securities subject to the provisions of this Agreement
applicable to Holder, and there shall be no further transfer of such Restricted Securities except in accordance with this Agreement.
As used in this Agreement, the term “Permitted Transferee” shall mean: (1) the members of Holder’s
immediate family (for purposes of this Agreement, “immediate family” shall mean with respect to any natural person,
any of the following: such person’s spouse, the siblings of such person and his or her spouse, and the direct descendants
and ascendants (including adopted and step children and parents) of such person and his or her spouses and siblings), including
pursuant to operation of law pursuant to a qualified domestic order or in connection with a divorce settlement or by virtue of
the laws of descent and distribution upon death, (2) any trust for the direct or indirect benefit of Holder or the immediate family
of Holder, (3) if Holder is a trust, to the trustor or beneficiary of such trust or to the estate of a beneficiary of such trust,
(4) if Holder is an entity, as a distribution to limited partners, shareholders, members of, or owners of similar equity interests
in Holder or (5) to any affiliate of Holder. Holder further agrees to execute such agreements as may be reasonably requested by
Pubco that are consistent with the foregoing or that are necessary to give further effect thereto. 

 

(b)         Holder further acknowledges and agrees that it shall not be permitted to engage in any Prohibited Transfer with respect
to any Escrow Shares until such Escrow Shares are disbursed to Holder from the Escrow Account in accordance with the terms and
conditions of the Merger Agreement and the Escrow Agreement.

 

(c)         If any Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported Prohibited
Transfer shall be null and void ab initio, and Pubco shall refuse to recognize any such purported transferee of the Restricted
Securities as one of its equity holders for any purpose. In order to enforce this Section 1, Pubco may impose stop-transfer
instructions with respect to the Restricted Securities of Holder (and Permitted Transferees and assigns thereof) until the end
of the Lock-Up Period. 

 

     2

    

    

 

(d)         During the Lock-Up Period (and with respect to any Escrow Shares, if longer, during the period when such Escrow Shares are
held in the Escrow Account), each certificate evidencing any Restricted Securities shall be stamped or otherwise imprinted with
a legend in substantially the following form, in addition to any other applicable legends:

 

“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A LOCK-UP AGREEMENT, DATED AS
OF [●], BY AND AMONG THE ISSUER OF SUCH SECURITIES (THE “ISSUER”), A CERTAIN REPRESENTATIVE OF THE ISSUER NAMED
THEREIN AND THE ISSUER’S SECURITY HOLDER NAMED THEREIN, AS AMENDED. A COPY OF SUCH LOCK-UP AGREEMENT WILL BE FURNISHED WITHOUT
CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

(e)          For
the avoidance of any doubt, (i) Holder shall retain all of its rights as a shareholder of Pubco with respect to the Restricted
Securities during the Lock-Up Period, including the right to vote any Restricted Securities, but subject to the obligations under
the Escrow Agreement and the Merger Agreement and (ii) the foregoing restrictions on transfer will not relate to any transactions
involving shares of Pubco common stock acquired in open market transactions after completion of the Transactions.

 

(f)          Pubco and the Purchaser Representative acknowledge that the shares of Purchaser’s common stock held by the Sponsor
are subject to the conditions and restrictions on transfer (the “Sponsor Lockup Restrictions) set forth in
the Stock Escrow Agreement, dated January 29, 2018, among the Purchaser, Continental Stock Transfer & Trust Company and the
Sponsor (the “Stock Escrow Agreement”), a true and complete copy of which was attached as Exhibit 10.2
to the Purchaser’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on February 1, 2018. The
Stock Escrow Agreement has not been amended or modified since it was executed and there will be no changes to the Stock Escrow
Agreement other than to add Pubco as a party thereto and the other amendments set forth in the Amendment to Stock Escrow Agreement
to be entered into at the Closing. Pubco and the Purchaser Representative agree that they will not shorten or terminate any of
the Sponsor Lockup Restrictions without similarly shortening or removing the restrictions on transfer contained herein.

 

2.            
Miscellaneous. 

 

(a)         Termination
of Merger Agreement.  This Agreement shall be binding upon Holder upon Holder’s execution and delivery of this Agreement,
but this Agreement shall only become effective upon the Closing. In the event that the Merger Agreement is terminated in accordance
with its terms prior to the Closing, this Agreement and all rights and obligations of the parties hereunder shall automatically
terminate and be of no further force or effect. 

 

(b)         Binding Effect; Assignment.  This Agreement and all of the provisions hereof shall be binding upon and inure to the
benefit of the parties hereto and their respective permitted successors and assigns. This Agreement and all obligations of Holder
are personal to Holder and may not be transferred or delegated by Holder at any time. Pubco may freely assign any or all of its
rights under this Agreement, in whole or in part, to any successor entity (whether by merger, consolidation, equity sale, asset
sale or otherwise) without obtaining the consent or approval of Holder (but from and after the Closing, the consent of the Purchaser
Representative shall be required). If the Purchaser Representative is replaced in accordance with the terms of the Merger Agreement,
the replacement Purchaser Representative shall automatically become a party to this Agreement as if it were the original Purchaser
Representative hereunder. 

 

     3

    

    

 

(c)         Third Parties.  Nothing contained in this Agreement or in any instrument or document executed by any party in connection
with the transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any
person or entity that is not a party hereto or thereto or a successor or permitted assign of such a party. 

 

(d)         Governing Law; Jurisdiction.  This Agreement and any dispute or controversy arising out of or relating to this Agreement
shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of law
principles thereof. All Actions arising out of or relating to this Agreement shall be heard and determined exclusively in any state
or federal court located in New York, New York (or in any appellate courts thereof) (the “Specified Courts”).
Each party hereto hereby (i) submits to the exclusive jurisdiction of any Specified Court for the purpose of any Action arising
out of or relating to this Agreement brought by any party hereto and (ii) irrevocably waives, and agrees not to assert by
way of motion, defense or otherwise, in any such Action, any claim that it is not subject personally to the jurisdiction of the
above-named courts, that its property is exempt or immune from attachment or execution, that the Action is brought in an inconvenient
forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby may not be enforced
in or by any Specified Court. Each party agrees that a final judgment in any Action shall be conclusive and may be enforced in
other jurisdictions by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents to the service
of the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated
by this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth in Section 2(g). Nothing in this Section 2(d) shall affect the right of any party
to serve legal process in any other manner permitted by applicable law. 

 

(e)         WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION
WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT
FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 2(e). 

 

(f)          Interpretation.
 The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting
this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural
and vice versa; (ii) “including” (and with correlative meaning “include”) means including without limiting
the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words
“without limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other
words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular
section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”. The parties have
participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of
intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 

 

     4

    

    

 

(g)          
Notices.  All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed
to have been duly given when delivered (i) in person, (ii) by facsimile or other electronic means, with affirmative confirmation
of receipt, (iii) one Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv)
three (3) Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested, in
each case to the applicable party at the following addresses (or at such other address for a party as shall be specified by like
notice): 

 

	
        If to Pubco prior to the Closing or to the Purchaser Representative,
        to:

         

        MTech Sponsor LLC

10124 Foxhurst Court

Orlando, Florida 32836

Attn: Scott Sozio

Facsimile No.: (407) 370-3097

Telephone No.: (407) 345-8332

Email: scott@vandykeholdings.com
	
        with a copy to (which shall not constitute notice):

         

        Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas, 11th Floor

New York, New York 10105

Attn:    Stuart Neuhauser, Esq.

             Matthew A. Gray, Esq.

Facsimile No.: (212) 370-7889

Telephone No.: (212) 370-1300

Email:   sneuhauser@egsllp.com

              mgray@egsllp.com

	
        If to Pubco after the Closing, to:

         

        [______________]

1601 Arapahoe Street, Suite 900

Denver, CO 80202

Attn: Jessica Billingsley, CEO

Facsimile No.: (888) 932-6537

Telephone No.: (888) 932-6537

Email: jessica@mjfreeway.com
	
        with copies to (which shall not constitute notice):

         

        Graubard Miller

        The Chrysler Building

        405 Lexington Avenue, 11th Floor

        New York, New York 10174

        Attn: David Alan Miller, Esq.

        Facsimile No.: (212) 818-8881

        Telephone No.: (212) 818-8661

        Email: DMiller@graubard.com

         

        and

         

        the Purchaser Representative (and its copy for notices
hereunder)

	If to Holder, to:  the address set forth below Holder’s name on the signature page to this Agreement.

 

(h)         Amendments and Waivers.  Any term of this Agreement may be amended and the observance of any term of this Agreement
may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent
of Pubco, the Purchaser Representative and Holder. No failure or delay by a party in exercising any right hereunder shall operate
as a waiver thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances,
shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

     5

    

    

 

(i)         
Severability.  In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction,
such provision shall be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid,
legal and enforceable, and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be
affected or impaired thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other
jurisdiction. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the
parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out,
so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.

 

(j)         
Specific Performance.  Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms
that in the event of a breach of this Agreement by Holder, money damages will be inadequate and Pubco (and the Purchaser Representative
on behalf of Pubco) will have no adequate remedy at law, and agrees that irreparable damage would occur in the event that any of
the provisions of this Agreement were not performed by Holder in accordance with their specific terms or were otherwise breached.
Accordingly, each of Pubco and the Purchaser Representative shall be entitled to an injunction or restraining order to prevent
breaches of this Agreement by Holder and to enforce specifically the terms and provisions hereof, without the requirement to post
any bond or other security or to prove that money damages would be inadequate, this being in addition to any other right or remedy
to which such party may be entitled under this Agreement, at law or in equity.

 

(k)         
Entire Agreement.  This Agreement constitutes the full and entire understanding and agreement among the parties with
respect to the subject matter hereof, and any other written or oral agreement relating to the subject matter hereof existing between
the parties is expressly canceled; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights
and obligations of the parties under the Merger Agreement or any Ancillary Document. Notwithstanding the foregoing, nothing in
this Agreement shall limit any of the rights or remedies of Pubco and the Purchaser Representative or any of the obligations of
Holder under any other agreement between Holder and Pubco or the Purchaser Representative or any certificate or instrument executed
by Holder in favor of Pubco or the Purchaser Representative, and nothing in any other agreement, certificate or instrument shall
limit any of the rights or remedies of Pubco or the Purchaser Representative or any of the obligations of Holder under this Agreement.

 

(l)         
Further Assurances.  From time to time, at another party’s request and without further consideration (but at
the requesting party’s reasonable cost and expense), each party shall execute and deliver such additional documents and take
all such further action as may be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(m)         
Counterparts; Facsimile.   This Agreement may also be executed and delivered by facsimile signature or by email
in portable document format in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

 

[Remainder of Page Intentionally Left
Blank; Signature Pages Follow]

 

     6

    

    

 

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

	 	 	 
	 	Pubco:
	 	 	 
	 	MTECH ACQUISITION HOLDINGS INC.
	 	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 	 
	 	The Purchaser Representative:
	 	 	 
	 	MTECH SPONSOR LLC,
	 	solely in its capacity under the Merger Agreement as the Purchaser Representative
	 	 	 
	 	By:	 
	 	Name:
	 	Title:

 

{Additional Signature on the Following
Page}

 

     

    

    

 

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

 

Holder:

 

	Name of Holder: 	[____________________________________________]	 

 

	By:	 	 
	Name:	 
	Title:	 

 

	Number and Type of Company Units:	 
	 	 	 
	Company Common Units: 	 	 

 

	Company Series A Preferred Units: 	 	 
	 	 	 
	Company Series B Preferred Units:	 	 
	 	 	 
	Company Series C Preferred Units:	 	 

 

	Company Profits Interest Units: 	 	 

 

	Address for Notice:	 
	 	 	 
	Address: 	 	 
	 	 
	 	 

 

	Facsimile No.: 	 	 
	 	 	 
	Telephone No.:  	 	 

 

	Email:

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