EX-10.3 5 ea021559501ex10-3_breeze.htm LOCK-UP AGREEMENT DATED AS OF SEPTEMBER 24, 2024

展品10.3

 

执行版本

 

锁定协议

 

这份封锁协议(这个 ”协议”) 由开曼群岛的YD Biopharma Limited于2024年9月24日起由YD Biopharma Limited制造和签订 岛屿豁免公司(”公司”)、下列签名的公司股东(统称为”公司 股东”),特拉华州的一家公司微风控股收购公司(”父母”),微风赞助商, LLC,特拉华州的一家有限责任公司(”赞助商”),以及以下签名的母公司股东(”家长 股东” 并与赞助商一起,”母公司初始股东”)。公司股东 此处有时将母公司初始股东单独称为”股东” 并集体 作为”股东。” 此处有时会单独提及公司、母公司和股东 作为”派对” 统称为”各方”。使用了大写的术语,但未使用其他用语 此处定义的含义应具有合并协议(定义见下文)中此类术语的含义。

 

A. 每位股东初始股东持有相应的父公司普通股份数(母公司普通股) 列于该股东初始股东姓名旁的 附录 A 现有信贷协议第10.14条的规定已经纳入本协议并适用于本协议。

 

b. 2024年9月24日,母公司、公司、开曼群岛免税公司及母公司全资子公司预计将被命名为“YD生物有限公司”,该公司目前正处于母公司组建阶段,一旦成立,母公司将使其加入本协议并签署本协议。Pubco),Breeze Merger Sub, Inc.,一家特拉华州公司,将成为Pubco的直接,全资子公司(Parent Merger Sub指的是Elk Topco, LLC, a Bermuda limited liability company的一个直接全资子公司,是本协议的甲方。,以及一家开曼群岛免税公司,该公司将成为Pubco的全资子公司,预计将被命名为“BH生物制药合并子有限公司”,这家公司目前正由母公司组建,并一旦成立,母公司将使其加入本协议并签署本协议。公司合并子),签署了某项关于合并协议和重组计划的协议(并购协议根据协议的规定,其中包括(a)母公司合并子公司将与母公司合并,母公司将继续作为存续公司(“Parent Merger”),并且母公司股东将获得Pubco的基本等价证券,以及(b)公司合并子公司将与公司合并,并且公司将继续作为存续公司(“公司合并”;公司合并和母公司合并在本文中统称为“Mergers”),并且公司股东将获得Pubco普通股,作为合并的结果,母公司和公司将成为Pubco的全资子公司,并且Pubco将成为纳斯达克上市的公开交易公司,所有均按照合并协议的条款和法律规定进行。

 

C. 合并协议设想各方将根据本协议进入协议,根据该协议,Pubco的普通股(“Pubco普通股”),由股东在母公司合并生效时点和公司合并生效时点后持有的普通股(适用时,连同支付的分红或分配的任何证券,或者这些证券兑换或转换为的任何证券),应受制于此处规定的处置限制。

 

 

 

D. 双方 愿意 根据本协议的条款和条件签订本协议。

 

现在,因此鉴于上述所载情形,并将其作为本协议的一部分,并相互承诺在此提出的其他充分阐述的前提以及为其他良好和有价值的考虑,特此确认已收到并承认其充分性,并有意通过此受法律约束,各方特此同意如下:

 

1. 根据本协议的目的:

 

(a) 术语“提前释放期指收盘日后第四个月纪念日的次日起始,至收盘日后第八个月纪念日止的期间;

 

(b) 术语“”表示自收盘日期起至收盘日期后8个月后的日期; 但Lock-Up期限可根据锁定期日期提前结束,提前结束的情况应符合的条款 。每个认购单位应支付的购买价格应等于每个企业单位在 第2(a)章 中的价格。或。第2(b)条;

 

(c) 术语“锁定股份”指的是即在母公司合并生效时间和公司合并生效时间后,持有股东持有的任何Pubco普通股,或在此后收购的股份;

 

(d) 术语“”指任何股东被允许在锁定期届满之前转让锁定股份的任何人被允许受让人” 表示在锁定期届满之前股东被允许转让锁定股份的任何人 本协议中的条款和目的,用于购买额外的公司股票。;

 

(e)"交易所"一词表示Pubco普通股的每日成交量加权平均收盘价,该价钱由Pubco普通股在纳斯达克资本市场(或Pubco普通股当时交易的其他主要证券交易所或证券市场)上报价的20个交易日内的任意二十个(20)交易日期间形成;并股价水平意味着Pubco普通股的每日成交量加权平均收盘价,该价钱由Pubco普通股在纳斯达克资本市场(或Pubco普通股当时交易的其他主要证券交易所或证券市场)上报价的20个交易日内的任意二十(20)个交易日期间形成;并

 

(f) 术语”转移” 指任何 (i) 自愿或非自愿转让、销售、要约出售、销售合同或协议, 抵押、质押、授予任何购买或以其他方式处置的选择权(无论是通过法律实施还是其他方式)或协议 处置或建立或增加看涨期权等值头寸或清算相对于看涨期权等价物 根据《交易法》第16条以及据此颁布的规则和条例所指的立场, 任何证券,(ii) 订立任何互换或其他安排,将任何经济后果全部或部分转移给他人 任何证券的所有权,无论任何此类交易是通过交付此类证券的现金或其他方式进行结算,或 (iii) 公开宣布任何意图实施第 (i) 或 (ii) 条中规定的任何交易。

 

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2. 锁定 条款.

 

(a)各股东均同意,在锁定期间内不得转让任何锁定股份(“转让限制”),除非依照以下规定允许:

 

(i)在提前释放期间,对于每位股东持有的限售股的百分之十(10%),转让限制将到期(以下简称“第一笔交易”当股价水平达到或超过12.50美元时。

 

(ii)在提前释放期间以及或与满足转让限制条件的同时 对于第一笔分期支付限制的提前到期之后, 第2条(a)(i),若股票价格水平达到或超过15.00美元,附加十(10)%封锁股(简称“第二阶段”,则限制转让 将自动取消。

 

(iii)当发行公司完成后续交易的日期时,关于所有锁定股份的转让限制将会到期。

 

(b) 不管本协议中有关事项,双方特此确认并同意,在封闭期间内的任何时间,在收购日期后不早于六(6)个月,Pubco的董事会(下称“Pubco董事会”)可能全权决定终止或部分终止转让限制;董事会在其唯一酌情权下,Pubco董事会可能决定全面或部分终止转让限制; 提供任何部分终止转让限制均应按比例适用于股东;且 提供, 进一步说明董事会通过此决议的批准应包括:(i) 在召开专为考虑和表决该决议目的而召开的董事会上表决;及 (ii) 包括至少占董事会独立成员的多数“独立”(如纳斯达克资本市场上市要求第5605(a)(2)条所定义的)董事。

 

(c) 尽管如此 所载的条文 第 2 (a) 节,每位股东及其各自的允许转让人均可全部转让 或部分,在锁定期间内的锁定股份 (i) 向该等股东的任何附属公司提供,(ii) 在个人情况下 股东,致该个人直接家庭成员(包括该等股东的配偶或祖先,后代 或兄弟姐妹(在每种情况下,无论是血液、结婚或领养))或信托,受益人为该等股东或成员 该等股东的直属家庭,或 (iii) 在个人股东的情况下,根据原产和分配法律而言,(iii) 在该等股东去世时。

 

(d) 本协议涉及的Pubco普通股每股价格将因Pubco股权证券的任何变更(包括股票拆分、股票股利、组合或重分类,或通过任何合并、合并、重组、资本重组或业务组合,或通过其他方式)而得到公正调整。

 

(e) If any Transfer is made or attempted contrary to the provisions of this Agreement, such Transfer shall be null and void ab initio, and Pubco shall refuse to recognize any such Transfer and any such transferee of Lock-Up Shares as one of its equity holders for any purpose. In order to enforce this Section 2(e), Pubco may impose stop-transfer instructions with respect to the Lock-Up Shares in accordance with the terms of this Agreement until the end of Lock-Up Period.

 

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(f) During the Lock-Up Period, each certificate (if any are issued) evidencing any Lock-Up Shares shall be stamped or otherwise imprinted with a legend in substantially the following form, in addition to any other applicable legends:

 

此证书代表的证券受制于特定锁定协议,日期为2024年9月24日,介于该等证券发行人("发行人")和本证书中所列明的发行人安全持有人以及其他当事方之间。如此锁定协议的副本将由发行人向本证券持有人免费提供,需书面要求。发行人此证书中所列明的证券持有人及其他当事方均受到相应的锁定协议限制。发行人将向本证券持有人提供该等锁定协议的副本,免费索取需书面要求。

 

(g) For the avoidance of any doubt, each of the Stockholders shall retain all of his, her or its rights as a stockholder of Pubco with respect to his, her or its Lock-Up Shares during the Lock-Up Period, including the right to vote any Lock-Up Shares.

 

3. Miscellaneous.

 

(a) Effective Date. This Agreement shall become effective at the Parent Merger Effective Time.

 

(b) Termination of the Merger Agreement. Notwithstanding anything to the contrary contained herein, in the event that the Merger Agreement is terminated in accordance with its terms prior to the Parent Merger Effective Time, this Agreement and all rights and obligations of the Parties hereunder shall automatically terminate and be of no further force or effect.

 

(c) Binding Effect; Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the Parties hereto and their respective permitted successors and assigns. Except as otherwise provided in this Agreement, this Agreement and all obligations of the Parties are personal to the Parties and may not be transferred or delegated by the Parties at any time.

 

(d) Third Parties. Nothing contained in this Agreement or in any instrument or document executed by any Party in connection with the transactions contemplated hereby shall create any rights in, or be deemed to have been executed for the benefit of, any person or entity that is not a Party hereto or thereto.

 

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(e) Governing Law; Jurisdiction. This Agreement shall be governed by and construed in accordance with the Laws of the State of Delaware, without giving effect to any choice of Law or conflict of Law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause the application of the law of any jurisdiction other than the State of Delaware. Each Party (a) irrevocably consents to the service of the summons and complaint and any other process in any Action relating to the transactions contemplated by this Agreement, for and on behalf of itself or any of its properties or assets, in accordance with this Section 3(e) or in such other manner as may be permitted by applicable Law and that such process may be served in the manner of giving notices in Section 3(h) and that nothing in this Section 3(e) shall affect the right of any Party to serve legal process in any other manner permitted by applicable Law, (b) irrevocably and unconditionally consents and submits itself and its properties and assets in any Action or proceeding to the exclusive general jurisdiction of the Court of Chancery of the State of Delaware (the “Chancery Court”) (or, only if the Chancery Court declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware) in the event any dispute or controversy arises out of this Agreement or the transactions contemplated hereby, or for recognition and enforcement of any Order in respect thereof, (c) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, (d) waives any objection that it may now or hereafter have to the venue of any such Action in any such court or that such Action was brought in an inconvenient court and agrees not to plead or claim the same, and (e) agrees that it will not bring any such Action in any court other than the aforesaid courts. Each Party agrees that a final Order in any Action in such courts as provided above shall be conclusive and may be enforced in other jurisdictions by suit on the Order or in any other manner provided by applicable Law.

 

(f) WAIVER OF JURY TRIAL. EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HEREBY (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 3(f).

 

(g) Interpretation. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting this Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (ii) “including” (and with correlative meaning “include”) means “including” without limiting the generality of any description preceding or succeeding such term and shall be deemed in each case to be followed by the words “without limitation”; (iii) the words “herein,” “hereto,” and “hereby” and other words of similar import in this Agreement shall be deemed in each case to refer to this Agreement as a whole and not to any particular section or other subdivision of this Agreement; and (iv) the term “or” means “and/or”. The Parties have participated jointly in the negotiation and drafting of this Agreement. Consequently, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement.

 

(h) Notices. All notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered (i) in person, (ii) by e-mail (having obtained electronic delivery confirmation thereof), (iii) one (1) Business Day after being sent, if sent by reputable, nationally recognized overnight courier service or (iv) three (3) Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt requested; provided, however, that notice given pursuant to clauses (iii) and (iv) above shall not be effective unless a duplicate copy of such notice is also given in person or by e-mail (having obtained electronic delivery confirmation thereof), in each case to the addresses specified on the signature pages hereto (or at such other addresses for a Party as shall be specified by like notice).

 

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(i) Amendments and Waivers. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance, and either retroactively or prospectively) only with the written consent of the Parties or the Party agreeing to be bound thereby, respectively. No failure or delay by a Party in exercising any right hereunder shall operate as a waiver thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

(j) Severability. In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall be modified or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable, and the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby nor shall the validity, legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties will substitute for any invalid, illegal or unenforceable provision a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid, illegal or unenforceable provision.

 

(k) Specific Performance. Each of the Parties acknowledges that its obligations under this Agreement are unique and recognizes and affirms that in the event of a breach of this Agreement by such Party, money damages will be inadequate and the other Parties will have no adequate remedy at law, and agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by the other Parties in accordance with their specific terms or were otherwise breached. Accordingly, each of the Parties shall be entitled to an injunction or restraining order to prevent breaches of this Agreement by the other Parties and to enforce specifically the terms and provisions hereof, without the requirement to post any bond or other security or to prove that money damages would be inadequate, this being in addition to any other right or remedy to which such Parties may be entitled under this Agreement, at law or in equity.

 

(l) Entire Agreement. This Agreement constitutes the full and entire understanding and agreement among the Parties with respect to the subject matter hereof and supersedes any other written or oral agreement relating to the subject matter hereof existing between the Parties; provided, that, for the avoidance of doubt, the foregoing shall not affect the rights and obligations of the Parties under the Merger Agreement or any other Ancillary Agreement. Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies or obligations of the Parties under any other agreement between any of the Parties, or any certificate or instrument executed by any of the Parties.

 

(m) Further Assurances. From time to time, at another Party’s reasonable request and without further consideration (but at the requesting Party’s reasonable cost and expense), each Party shall execute and deliver such additional documents and take all such further action as may be reasonably necessary to consummate the transactions contemplated by this Agreement.

 

(n) Counterparts; Facsimile. This Agreement may also be executed and delivered by facsimile signature or by email in portable document or other electronic format in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

[Remainder of Page Intentionally Left Blank; Signature Pages Follow]

 

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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

 

  Parent:
   
  BREEZE HOLDINGS ACQUISITION CORP.
   
  By: /s/ J. Douglas Ramsey, Ph.D.
  Name: J. Douglas Ramsey, Ph.D.
  Title: CEO & CFO
  Email: doug@breezeacquisition.com
  Address: Breeze Holdings Acquisition Corp.
955 W. John Carpenter Fwy., Suite 100-929
Irving, TX 75039
  Attention:  J. Douglas Ramsey, Ph.D.

 

  SPONSOR:
   
  BREEZE SPONSOR, LLC
   
  By: /s/ J. Douglas Ramsey, Ph.D.
  Name: J. Douglas Ramsey, Ph.D.
  Title: Manager
  Email: doug@breezeacquisition.com
  Address: Breeze Holdings Acquisition Corp.
955 W. John Carpenter Fwy., Suite 100-929
Irving, TX 75039
  Attention:  J. Douglas Ramsey, Ph.D.

 

[Signature Page to Lock-Up Agreement]

 

 

 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

 

  PARENT STOCKHOLDERS:
   
  I-BANKERS SECURITIES, INC.
   
  By: /s/ Matthew J. McCloskey
  Name: Matthew J. McCloskey
  Title: CEO
  Email:  
  Address:   

 

  /s/ Albert McLelland
  Albert McLelland
  Email:
  Address:

 

  /s/ Daniel L. Hunt
  Daniel L. Hunt
  Email:
  Address:

 

  /s/ Robert Lee Thomas
  Robert Lee Thomas
  Email:
  Address:

 

  /s/ Bill Stark
  Bill Stark
  Email:
  Address:

 

[Signature Page to Lock-Up Agreement]

 

 

 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

 

  COMPANY:
   
  YD Biopharma Limited
   
  By: /s/ Dr. Hsieh Tsung Shen
  Name: Dr. Hsieh Tsung Shen
  Title: CEO
  Email:  
  Address:  YD Biopharma Limited
12th Floor, No. 101, Section 2
Nanjing East Road, Zhongshan District
Taipei City, Taiwan 54186159

 

[Signature Page to Lock-Up Agreement]

 

 

 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first written above.

 

  COMPANY SHAREHOLDERS:
   
  YD Biopharma Holding Limited
   
  By: /s/ Dr. Hsieh Tsung Shen
  Name: Dr. Hsieh Tsung Shen
  Title: CEO
     
  Email:  
     
  Address:  

 

[Signature Page to Lock-Up Agreement]