SEC Contract Filing

Filing Date: 2018-10-23

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<TYPE>EX-10.3
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<FILENAME>ex10-3.htm
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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>LOCK-UP
AGREEMENT</B></FONT></P>

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<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">October
___, 2018</FONT></P>

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<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">Ladies
and Gentlemen:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned irrevocably agrees with Vitality Biopharma, Inc., a Nevada corporation (the &ldquo;<U>Company</U>&rdquo;), that, from
the date hereof (the &ldquo;Commencement Date&rdquo;) until [October ___, 2021] (such period, the &ldquo;<U>Restriction Period</U>&rdquo;),
the undersigned will not offer, sell, contract to sell, hypothecate, pledge or otherwise dispose of (or enter into any transaction
which is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective
economic disposition due to cash settlement or otherwise) by the undersigned or any Affiliate of the undersigned or any person
in privity with the undersigned or any Affiliate of the undersigned), directly or indirectly, including the filing (or participation
in the filing) of a registration statement with the Securities and Exchange Commission in respect of, or establish or increase
a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange
Act with respect to, any shares of common stock, par value $0.001 per share (&ldquo;<U>Common Stock</U>&rdquo;), of the Company
or any debt, preferred stock, right, option, warrant or other instrument or security of the Company or any subsidiary that is
at any time convertible into or exercisable or exchangeable for Common Stock that were acquired by the undersigned under the terms
of the Share Exchange Agreement by and among the Company and the shareholders party thereto, that are beneficially owned, held
or hereafter acquired by the undersigned (the &ldquo;<U>Securities</U>&rdquo;). Beneficial ownership shall be calculated in accordance
with Section 13(d) of the Securities Exchange Act of 1934, as amended. In order to enforce this covenant, the Company shall impose
irrevocable stop-transfer instructions preventing the transfer agent of the Company from effecting any actions in violation of
this Agreement.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notwithstanding
the foregoing, starting on October ___, 2019 and on each annual anniversary of that date during the Restriction Period, the undersigned
shall gain the right to sell up to 1/3 (33.333%) of the shares of Common Stock held by the undersigned, subject to adjustment
for reverse and forward stock splits, stock dividends, stock combinations and other similar transactions of the Common Stock that
occur after the Commencement Date, an amount that will accumulate so that the undersigned shall have the right to sell all (100%)
of the Common Stock held by the undersigned on October ____, 2021.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the undersigned has executed an employment or consulting agreement with the Company or any Affiliate of the Company and such employment
or consulting agreement is terminated at any time during the Restriction Period, the undersigned agrees to submit for cancellation
all Common Stock subject to this Agreement that has not been released on the date of such termination.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 4.5pt; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;<U>Affiliate</U>&rdquo;
means any person that, directly or indirectly through one or more