SEC Contract Filing

Filing Date: 2022-09-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>5
<FILENAME>tm2225885d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.3</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>LOCK-UP AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 4in; text-align: right; text-indent: 0.5in">September&nbsp;___,
2022</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Re:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Securities Purchase Agreement, dated as of September&nbsp;11,
2022, between </FONT>T Stamp Inc., a Delaware corporation (the &ldquo;Company&rdquo;) and the purchaser signatory thereto (the &ldquo;Purchaser&rdquo;)</TD></TR></TABLE>

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

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Defined terms not otherwise
defined in this letter agreement (the &ldquo;<U>Letter Agreement</U>&rdquo;) shall have the meanings set forth in the Securities Purchase
Agreement (the &ldquo;Purchase Agreement&rdquo;), dated as of September&nbsp;11, 2022. Pursuant to Section&nbsp;2.2(a)&nbsp;of the Purchase
Agreement and in satisfaction of a condition of the Company&rsquo;s obligations under the Purchase Agreement, the undersigned irrevocably
agrees with the Company that, from the date hereof until sixty (60) days after the Effective Date (such period, the &ldquo;<U>Restricted
Period</U>&rdquo;), the undersigned will not offer, sell, contract to sell, lend, 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, or establish or increase a put equivalent
position or liquidate or decrease a call equivalent position within the meaning of Section&nbsp;16 of the Securities Exchange Act of 1934,
as amended (the &ldquo;<U>Exchange Act</U>&rdquo;), with respect to, any shares of Common Stock of the Company or securities convertible,
exchangeable or exercisable into, shares of Common Stock of the Company beneficially owned, held or hereafter acquired by the undersigned
(the &ldquo;<U>Securities</U>&rdquo;). Beneficial ownership shall be calculated in accordance with Section&nbsp;13(d)&nbsp;of the Exchange
Act. 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 Letter Agreement.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Notwithstanding the foregoing,
and subject to the conditions below, the undersigned may transfer the Securities provided that (i)&nbsp;the Company receives a signed
lock-up letter agreement (in the form of this Letter Agreement) for the balance of the Restricted Period from each donee, trustee, distributee,
or transferee, as the case may be, prior to such transfer (ii)&nbsp;any such transfer shall not involve a disposition for value, (iii)&nbsp;such
transfer is not required to be reported with the Securities and Exchange Commission in accordance with the Exchange Act and no report
of such transfer shall be made voluntarily, and (iv)&nbsp;neither the undersigned nor any donee, trustee, distributee or transferee, as
the case may be, otherwise voluntarily effects any public filing or report regarding such transfers, with respect to transfer:</P>

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 <TD STYLE="width: 0.25in; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">i)</FONT></TD>
 <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">as a&nbsp;<I>bona fide</I>&nbsp;gift or gifts;</FONT></TD></TR>
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<TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ii)</FONT></TD>
<TD STYLE="text-align: justify">to any immediate family member or to any trust for the direct or indirect benefit of the undersigned or the immediate family of the undersigned (for purposes of this Letter Ag