SEC Contract Filing

Filing Date: 2020-06-29

Document Content:
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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex10-3.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>AMENDMENT
TO</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>STANDSTILL
AND FORBEARANCE AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
<FONT STYLE="text-transform: uppercase"><B>amendment TO STANDSTILL AND FORBEARANCE AGREEMENT </B></FONT>(this &ldquo;<U>Amendment</U>&rdquo;),
is made and executed as of XXXXX XX, <FONT STYLE="letter-spacing: -0.15pt">2020 </FONT>by and among (i) <FONT STYLE="text-transform: uppercase"><B>PRESSURE
BIOSCIENCES, INC.</B></FONT>, a corporation incorporated under the laws of the State of Massachusetts (the &ldquo;<U>Company</U>&rdquo;),
and (ii) XXXXXXXXX<B>, </B>a (limited liability corporation) <B>or</B> (corporation) incorporated under the laws of the State
of XXXXXXX (the &ldquo;<U>Creditor</U>&rdquo;).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>W
I T N E S S E T H</U>:</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>,
the Company and the Creditor entered into that Standstill and Forbearance Agreement dated November/December XX, 2019 (the &ldquo;<U>Standstill
Agreement</U>&rdquo;);</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>,
pursuant to the Standstill Agreement, the Creditor agreed to not convert any portion of their convertible notes into shares of
Common Stock until the Expiration Date (<FONT STYLE="letter-spacing: -0.15pt">as defined in the recitals to the Standstill Agreement)</FONT>,
and to waive, through the Expiration Date, all of the Company&rsquo;s defaults under their convertible notes including, but not
limited to, the late filing of its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2019. The Company
issued shares of Common Stock with a restrictive legend to the Creditor to the Creditor in connection with the entrance into the
Standstill Agreement; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.15pt"><B>WHEREAS</B>,
the parties desire to amend the Expiration Date, as defined in the recitals to the Standstill Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW,
THEREFORE, IN CONSIDERATION OF THE PROMISES, ACTS, RELEASES AND OTHER GOOD AND VALUABLE CONSIDERATION HEREINAFTER RECITED, THE
SUFFICIENCY AND RECEIPT OF WHICH IS HEREBY ACKNOWLEDGED, THE PARTIES HERETO, INTENDING TO BE LEGALLY BOUND, AGREE AS FOLLOWS:</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<B><U>Capitalized Terms</U></B>. All capitalized terms used herein but not otherwise defined shall have the meaning ascribed to
them in the <FONT STYLE="letter-spacing: -0.15pt">Standstill Agreement</FONT>.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-