Document:

EX-10.2

 Exhibit 10.2 

Form of Amendment to Lock-Up Agreement 

AMENDMENT TO LOCK-UP AGREEMENT 

This Amendment to Lock-Up Agreement (this “Amendment”) is made as of January 4,
2023 (the “Effective Date”) by and among Peak Bio, Inc. (f/k/a Ignyte Acquisition Corp.), a Delaware corporation (the “Company”), Peak Bio Co., Ltd., a corporation organized under the laws of the Republic of Korea
(“Peak Bio Korea”), and certain stockholders of Peak Bio Korea (the “Lock-Up Parties”). 

WHEREAS, the Company, Peak Bio Korea, and the executive officers and members of the board of directors of the Company and stockholders of Peak
Bio Korea are parties to that certain Lock-Up Agreement dated as of November 1, 2022 (the “Lock-Up Agreement”) (capitalized terms used herein and
not otherwise defined herein have the meanings ascribed to them in the Lock-Up Agreement); and 

WHEREAS, the Company, Peak Bio Korea, and a majority in interest of the Lock-Up Parties wish to amend
the Lock-Up Agreement with this Amendment. 
 NOW, THEREFORE, the parties agree to amend the Lock-Up Agreement as follows: 
 1. Release of 30% of
Lock-Up Securities from Lock-Up. 
 The
parties to the Lock-Up Agreement hereby agree that, notwithstanding anything to the contrary in the Lock-Up Agreement, the restriction on Transfer of Lock-Up Securities Beneficially Owned shall not apply to 30% of the Lock-Up Securities Beneficially Owned by a Lock-Up Party. 

2. Continuation of Lock-Up Agreement as Amended. Except as modified by this
Amendment, the Lock-Up Agreement shall continue in full force and effect. 
 [Signature Page
Follows] 

 The parties have executed this Amendment to Lock-Up
Agreement as of the date first set forth above. 
  

			
	THE COMPANY:
	
	PEAK BIO, INC.
		
	By:	 	 
		 	(Signature)
	Name:	 	Stephen LaMond
	Title:	 	Interim CEO and COO

 Signature Page to Amendment to Lock-Up Agreement

 The parties have executed this Amendment to Lock-Up
Agreement as of the date first set forth above. 
  

			
	LOCK-UP PARTIES:
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	 Address for Notice:

 Signature Page to Amendment to Lock-Up AgreementEX-10.3

 Exhibit 10.3 

AMENDMENT TO KEY COMPANY STOCKHOLDER FORWARD PURCHASE AGREEMENT 

This Amendment to Key Company Stockholder Forward Purchase Agreement (this “Amendment”) is made as of December 29, 2022
(the “Effective Date”) by and between Peak Bio, Inc. (f/k/a Ignyte Acquisition Corp.), a Delaware corporation (the “Company”), and Hoyoung Huh, M.D., Ph.D. (the “Investor”). 

WHEREAS, Investor and the Company are parties to that certain Key Company Stockholder Forward Purchase Agreement dated as of April 28,
2022 (the “Purchase Agreement”) (capitalized terms used herein and not otherwise defined herein have the meanings ascribed to them in the Purchase Agreement); 

WHEREAS, the Purchase Agreement provided that in connection with the consummation of the business combination Transaction, if the aggregate
purchase price of certain Other Investors was less than $30,000,000, subject to the satisfaction of certain conditions specified therein, the Investor would purchase Shares with an aggregate purchase price equal to the lesser of (i) $10,000,000 and
(ii) the amount by which the Other Investors’ Aggregate PIPE Investment Amount was less than $30,000,000 (the “Subscription Amount”); 

WHEREAS, the parties acknowledge that the Other Investors’ Aggregate PIPE Investment Amount was less than $20,000,000, and as a
consequence, the Subscription Amount is $10,000,000; and 
 WHEREAS, the parties also wish to amend the Purchase Agreement to remove the
conditions precedent to Investor’s purchase obligation, to set a date by which the purchase must be completed by the Investor, and in consideration of the removal of such conditions precedent and completion date, the Company agrees to modify
the purchase price for the Shares in a manner to make the purchase price equivalent to the purchase price of certain of the Other Investors in connection with the closing of the Transaction as follows: in consideration of Investor’s investment
of the $10,000,000 Subscription Amount, Investor will receive 1,930,501 shares of the Company’s Common Stock for a purchase price per share of $5.18. 

NOW, THEREFORE, the parties agree to amend the Purchase Agreement as follows: 

1. Removal of Margin Loan Closing Condition; Funding Date; Purchase Price. 

(a) Section 3(d) of the Purchase Agreement which included as a condition precedent to the Investor’s obligation to fund the Subscription
Amount that the Investor shall have received margin financing from a lender reasonably acceptable to the Company in the aggregate amount of the Subscription Amount (defined therein as the “Margin Loan”) within 180 days of the closing of
the transactions contemplated by the Transaction Agreement is hereby deleted and shall have no further force or effect. Effective on the date hereof, the Company shall issue 1,930,501 shares of Company Common Stock to Investor to be held in escrow
for the benefit of Investor and which shall be released upon payment of the Subscription Amount. 
 (b) The parties acknowledge that the
Investor may continue to seek to obtain a Margin Loan and that the terms with respect to the release of the Investor’s shares of Company Common Stock from certain lock-up restrictions in connection with
such a Margin Loan as set forth in that certain Key Company Stockholder Lock-Up Agreement entered into in connection with the Transaction Agreement with the Investor shall continue to apply; provided, however,
that such Margin Loan shall not be a condition precedent to the Investor’s obligation to fund the Subscription Amount. 

 (c) The Investor agrees to fund the Subscription Amount by wire transfer to the Company on a
date hereafter specified by the Company with at least 10 days’ prior written notice by Company to Investor; provided that, the funding shall occur no later than March 31, 2023. 

(d) In exchange for payment by Investor of the $10,000,000 Subscription Amount, the Investor will receive 1,930,501 shares of Common Stock.

 2. Continuation of Purchase Agreement as Amended. Except as modified by this Amendment, the Purchase Agreement shall
continue in full force and effect. 
 [Signature Page Follows] 

  
 -2- 

 The parties have executed this Amendment to Key Holder Forward Purchase Agreement as of the
date first set forth above. 
  

			
	THE COMPANY:
	
	PEAK BIO, INC.
		
	By:	 	 /s/ Stephen LaMond

		 	(Signature)
	
	Name: Stephen LaMond
	Title: Interim CEO and COO
	
	INVESTOR:
	
	 /s/ Hoyoung Huh

	Hoyoung Huh, M.D., Ph.D.

  
 -3-Exhibit 10.1

 

CONSENT AND ACKNOWLEDGEMENT OF MERGER
AGREEMENT LETTER AGREEMENT

 

December 30, 2022

 

Ladies and Gentlemen:

 

This letter (this “Letter
Agreement”) is being entered into by and between Wentworth Management Services LLC, a Delaware limited liability company
(the “Company”), Kingswood Acquisition Corp., a Delaware corporation (“SPAC”) and
Binah Capital Group, Inc., a Delaware corporation, and a wholly owned subsidiary of SPAC (“Holdings”). Reference
is made to that certain Agreement and Plan of Merger, dated as of July 7, 2022 (the “Merger Agreement”), by
and between SPAC, the Company, Holdings, and the other parties thereto, relating to the proposed business combination between SPAC, Holdings,
and the Company. All capitalized terms used herein shall have the respective meanings given to them in the Merger Agreement unless specifically
defined herein.

 

In order to induce the SPAC,
Holdings and the Company to proceed with the consummation of the transactions contemplated in the Merger Agreement, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.                  
SPAC, Holdings, and the Company hereby acknowledge and agree that Termination Date as defined in the Merger Agreement shall be
revised from “December 30, 2022” to “June 30, 2023”.

 

2.                  
This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter
hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written, or oral, to the
extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed,
amended, modified, or waived (other than to correct a typographical error) as to any particular provision, except by a written instrument
executed by all parties hereto.

 

3.                  
No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior
written consent of the other party, except as provided above. Any purported assignment in violation of this paragraph shall be void and
ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.

 

4.                  
This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware, without
giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The
parties hereto (a) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement
shall be brought and enforced in the courts of the State of Delaware, and irrevocably submits to such jurisdiction and venue, which jurisdiction
and venue shall be exclusive and (b) waives any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient
forum.

 

5.                  
This Letter Agreement may be executed and delivered (including by facsimile transmission or by electronic transmission) in one
or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be
an original but all of which taken together shall constitute one and the same agreement.

 

[Signature Pages Follow]

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have caused
this Letter Agreement to be duly executed as of the date first above written.

 

	 	KINGSWOOD ACQUISITION CORP.
	 	 
	 	By:	/s/ Michael Nessim
	 	 	Name:	Michael Nessim
	 	 	Title:	Chief Executive Officer
	 	 
	 	WENTWORTH MANAGEMENT SERVICES LLC
	 	 
	 	By:	/s/ Craig Gould 
	 	 	Name:	Craig Gould
	 	 	Title: 	President 
	 	 
	 	BINAH CAPITAL GROUP, INC.
	 	 
	 	By:	/s/ Michael Nessim
	 	 	Name:   	Michael Nessim
	 	 	Title: 	Chief Executive Officer

 

[Signature Page to the Merger Agreement Side
Letter]

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