SEC Contract Filing

Filing Date: 2025-01-10

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>6
<FILENAME>ea022732401ex10-2_xtiaero.htm
<DESCRIPTION>FORM OF LOCK-UP AGREEMENT
<TEXT>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b>Exhibit 10.2</b></p>

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

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Form of Lock-Up Agreement </b></p>

<p style="text-align: right; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right">January 7, 2025</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ThinkEquity LLC</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">17 State Street, 41st Floor</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">New York, NY 10004</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The undersigned understands
that ThinkEquity LLC (the &ldquo;<b>Agent</b>&rdquo;), proposes to enter into a Placement Agency Agreement (the &ldquo;<b>Agreement</b>&rdquo;)
with XTI Aerospace, Inc., a Nevada corporation (the &ldquo;<b>Company</b>&rdquo;), providing for the public offering (the &ldquo;<b>Offering</b>&rdquo;)
of shares of common stock, par value $0.001 per share (the &ldquo;<b>Common Stock</b>&rdquo;), of the Company (the &ldquo;<b>Shares</b>&rdquo;)
and/or pre-funded common stock purchase warrants, each to purchase one share of Common Stock (the &ldquo;<b>Pre-funded Warrants</b>,&rdquo;
and the Shares, the Pre-funded Warrants and the shares of Common Stock underlying the Pre-funded Warrants, the &ldquo;<b>Securities</b>&rdquo;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To induce the Agent to continue
its efforts in connection with the Offering, the undersigned hereby agrees that, without the prior written consent of the Agent, the undersigned
will not, during the period commencing on the date hereof and ending ninety (90) days after the date of the final prospectus relating
to the Offering (the &ldquo;<b>Lock-Up Period</b>&rdquo;), (1) offer, pledge, sell, contract to sell, grant, lend, or otherwise transfer
or dispose of, directly or indirectly, any shares of Common Stock or any securities convertible into or exercisable or exchangeable for
shares of Common Stock, whether now owned or hereafter acquired by the undersigned or with respect to which the undersigned has or hereafter
acquires the power of disposition (collectively, the &ldquo;<b>Lock-Up Securities</b>&rdquo;); (2) 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 Lock-Up Securities, whether any such
transaction described in clause (1) or (2) above is to be settled by delivery of Lock-Up Securities, in cash or otherwise; (3) make any
demand for or exercise any right with respect to the registration of any Lock-Up Securities; or (4) publicly disclose the intention to
make any offer, sale, pledge or disposition, or to enter into any transaction, swap, hedge or other arrangement relating to any Lock-Up
Securities. Notwithstanding the foregoing, and subject to the conditions below, the undersigned may transfer Lock-Up Securities without
the prior written consent of the Agent in connection with (a) transactions relating to Lock-Up Securities acquired in open market transactions
after the completion of the Offering; <u>provided</u> that no filing under Section&nbsp;13 or Section 16(a) of the Securities Exchange
Act of 1934, as amended (the &ldquo;<b>Exchange Act</b>&rdquo;), or other public announcement shall be required or shall be voluntarily
made in connection with subsequent sales of Lock-Up Securities acquired in such open market transactions; (b) transfers of Lock-Up Securities
as a <i>bona fide</i> gift, by will or intestacy or to a family member or trust for the benefit of the undersigned or a family member
(for purposes of this lock-up agreement, &ldquo;family member&rdquo; means any relationship by blood, marriage or adoption, not more remote
than first cousin); (c) transfers of Lock-Up Securities to a charity or educational institution; (d) if the undersigned is a corporation,
partnership, limited liability company or other business entity, (i) any transfers of Lock-Up Securities to another corporation, partnership
or other business entity that controls, is controlled by or is under common control with the undersigned or (ii) distributions of Lock-Up
Securities to members, partners, stockholders, subsidiaries or affiliates (as defined in Rule 405 promulgated under the Securities Act
of 1933, as amended) of the undersigned; or (e) if the undersigned is a trust, to a trustee or beneficiary of the trust; <u>provided</u>
that in the case of any transfer pursuant to the foregoing clauses&nbsp;(b), (c) or (d), (i) any such transfer shall not involve a disposition
for value, (ii) each transferee shall sign and deliver to the Agent a lock-up agreement substantially in the form of this lock-up a