Exhibit 10.2

LOCK UP AND CONSENT AGREEMENT

This Lock Up and Consent Agreement (the “ Agreement ”), dated as of December 18, 2006, is entered into and made by and among Protection One Alarm Monitoring, Inc. (“ POAMI ”), Integrated Alarm Services Group, Inc. (“ IASG ”) and each of the undersigned holders (each, a “ Consenting Holder ” and, together, the “ Consenting Holders ”) of the Old Notes (as defined below).

WHEREAS, IASG has issued $125,000,000 aggregate principal amount of 12% Senior Secured Notes due 2011 (the “ Old Notes ”), pursuant to an Indenture (the “ Old Note Indenture ”), dated as of November 16, 2004, by and among IASG, the guarantors named therein and Wells Fargo Bank, N.A., as trustee (the “ Trustee ”);

WHEREAS, IASG, POAMI and Protection One, Inc. (“ POI ”) are contemplating a merger transaction (the “ Merger ”) pursuant to which IASG would be merged with and into a new subsidiary of POI or POAMI;

WHEREAS, POAMI, IASG and the Consenting Holders are contemplating an offer to exchange the Old Notes for a new series of 12% Senior Secured Notes due 2011 of POAMI (the “ New Notes ”) (such offer to be known herein as the “ Exchange Offer ”);

WHEREAS, as part of the Exchange Offer, IASG will solicit consents to the terms of the Old Notes set forth in the Old Note Indenture to remove many of the restrictive covenants and events of default contained therein, among other modifications (the “ Amendments ”) and obtain the waiver of the holders of the Old Notes with respect to any existing defaults under the Old Notes and all related documents (the “ Waiver ,” and together with the Amendments, the “ Consent Solicitation ”);

WHEREAS, POAMI and the Consenting Holders have engaged in good faith negotiations with the objective of reaching an agreement with regard to the Exchange Offer and Consent Solicitation, the material terms of which are set forth on the term sheet annexed hereto as Exhibit A (the “ Term Sheet ”);

WHEREAS, to implement the transactions contemplated by the Term Sheet, POAMI and IASG intend to prepare and deliver an Offering Memorandum and Consent Solicitation Statement (the “ Offering Memorandum ”) with respect to the Exchange Offer and Consent Solicitation;

WHEREAS, each Consenting Holder is the beneficial owner and/or the investment adviser or manager for the beneficial owner (with the power to vote and dispose on behalf of such beneficial owner) of the aggregate principal amount of Old Notes (for each such party, the “ Relevant Ownership ”), in each case as set forth below each such Consenting Holder’s signature attached hereto;

WHEREAS, in connection with the Exchange Offer and Consent Solicitation, each Consenting Holder intends to exchange its Old Notes for New Notes pursuant to the Exchange Offer and consent to the Amendments and Waiver pursuant to the Consent

Solicitation, and POAMI and IASG desire to obtain the agreement of the Consenting Holders to participate in the Exchange Offer and Consent Solicitation.

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, POAMI, IASG and the Consenting Holders agree as follows:

Section 1.               Voting .  Each Consenting Holder represents and warrants that, as of the date hereof, it is the legal owner, beneficial owner and/or the investment adviser or manager for the beneficial owner (with the power to vote and dispose on behalf of such beneficial owner) of such legal or beneficial owner’s Relevant Ownership and that there are no Old Notes of which it is the legal owner, beneficial owner and/or investment advisor or manager for such legal or beneficial owner which are not part of its Relevant Ownership.  Subject to the consummation of the Merger pursuant to terms and conditions that are substantially similar to that certain draft Agreement and Plan of Merger dated December 18, 2006, each Consenting Holder agrees for itself that it shall, in connection with the (i) Exchange Offer, tender its Old Notes in exchange for the New Notes, and (ii) Consent Solicitation, timely vote its Relevant Ownership and any other claims or interests that it holds to consent to the Amendments and the Waiver, subject, in each case, to the terms and conditions of the Exchange Offer, New Notes and Consent Solicitation being consistent with the Term Sheet in all respects.

Section 2.               Transmittal .  Each Consenting Holder agrees that it shall deliver to the depositary for the Exchange Offer and Consent Solicitation, no later than the fifth (5th) business day following the commencement of the Exchange Offer and Consent Solicitation, the form of consent and letter of transmittal to be provided by POAMI in connection with the Exchange Offer and Consent Solicitation together with any and all certificates representing the Old Notes owned by it.  Each Consenting Holder hereby agrees that POAMI has the right to publish and disclose in the Offering Memorandum to be delivered to holders of the Old Notes and any press releases issued in connection with the Exchange Offer and Consent Solicitation the identity of such Consenting Holder and the nature of its agreements, commitments, arrangements and understandings under this Agreement.

Section 3.               Restrictions on Transfer .  Each of the Consenting Holders hereby agrees that, for so long as this Agreement shall remain in effect, it shall not sell, transfer or assign all or any of its Relevant Ownerships or any option thereon or any right, interest (voting or otherwise) therein, unless the transferee agrees in writing to be bound by the terms of this Agreement by executing a counterpart signature page to this Agreement and the transferor promptly provides POAMI with a copy thereof.  Each of the Consenting Holders further agrees that it will not grant any proxies or powers of attorney with respect to the Old Notes, other than to the holder of record with respect to the matters contemplated hereby, deposit any Old Notes into a voting trust or enter into a voting agreement with respect to any Old Notes.

Section 4.               Further Acquisition of Old Notes .  This Agreement shall in no way be construed to preclude the Consenting Holders or any of their respective subsidiaries or affiliates from acquiring additional Old Notes.  However, any such additional Old Notes acquired by a Consenting Holder or any of their respective subsidiaries or affiliates shall

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automatically be deemed to be Relevant Ownerships and subject to the terms of this Agreement.  Upon the request of POAMI, each Consenting Holder shall provide an accurate and current written list of the Relevant Ownerships held by such Consenting Holder, and in any event shall provide such written list of the Relevant Ownerships on the second business day prior to the expected commencement of the Exchange Offer and Consent Solicitation.

Section 5.               Representations and Warranties .  Each of the Consenting Holders and POAMI represents and warrants to one another that the following statements are true, correct and complete as of the date hereof:

(a)           Power and Authority .  It has all requisite power and authority (including, but not limited to corporate, partnership or limited liability company power and authority) to enter into this Agreement, to carry out the transactions contemplated hereby and to perform its obligations hereunder.

(b)           Authorization .  The execution and delivery of this Agreement and the performance of its obligations hereunder have been duly authorized by all necessary corporate, partnership or limited liability company action on its part.

(c)           No Conflicts .  The execution, delivery and performance of this Agreement does not and shall not: (i) violate any provision of law, rule or regulation applicable to it or any of its subsidiaries, (ii) violate its certificate or articles of incorporation, bylaws or other organizational documents or those of any of its subsidiaries; or (iii) conflict with, result in a breach of or constitute (with due notice or lapse of time or both) a default under any material contractual obligation to which it or any of its subsidiaries is a party.

(d)           Governmental Consents .  The execution, delivery and performance by it of this Agreement do not and shall not require any registration or filing with, consent or approval of, or notice to, or other action to, with or by, any federal, state or other governmental authority or regulatory body.

(e)           Binding Obligation .  This Agreement is a legally valid and binding obligation, enforceable in accordance with its terms.

Section 6.               Accredited Investors .  Each of the Consenting Holders understands and acknowledges that the New Notes have not been registered under the Securities Act of 1933 (the “ Securities Act ”) or any other applicable securities law, the New Notes are being offered for exchange in transactions not requiring registration under the Securities Act or any other securities laws, and none of the New Notes may be offered, sold or otherwise transferred except in compliance with the registration requirements of the Securities Act or any other applicable securities law, pursuant to an exemption therefrom or in a transaction not subject thereto.  Each of the Consenting Holders hereby further represents, warrants and acknowledges that (i) it is an “accredited investor” as such term is defined in Regulation D of the Securities Act, (ii) it has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the Exchange Offer and the Consent Solicitation and (iii) it has received all information regarding POAMI, IASG, the terms of the contemplated merger transaction and

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the terms of the New Notes as such Consenting Holder deems necessary in order to evaluate the merits and risks of the Exchange Offer and the Consent Solicitation.

Section 7.               Brokers and Intermediaries .  No broker, investment banker, financial adviser or other person is entitled to any broker’s, finder’s, financial advisor’s or other similar fee or commission in connection with the Exchange Offer or Consent Solicitation contemplated hereby based upon arrangements made by or on behalf of such Consenting Holders.

Section 8.               Complete Agreement; Modification of Agreement .  This Agreement and the other agreements referenced herein constitute the complete agreement between the parties with respect to the subject matter hereof.  This Agreement may not be modified, altered, amended or supplemented except by an agreement in writing signed by POAMI and each of the Consenting Holders which are a signatory hereto.

Section 9.               Good Faith Negotiation of Documents .  Each party hereby further covenants and agrees to negotiate the documentation implementing the Exchange Offer and Consent Solicitation and any definitive documents relating thereto (including, but not limited to, the New Notes and a New Notes indenture) in good faith and, in any event, in all respects consistent with the Term Sheet.

Section 10.             Specific Performance .  It is understood and agreed by the parties that money damages would not be a sufficient remedy for any breach of this Agreement by any party and each non-breaching party shall be entitled to the remedy of specific performance and injunctive or other equitable relief, including attorneys’ fees and costs, as a remedy of any such breach, and each party agrees to waive any requirement for the securing or posting of a bond in connection with such remedy.

Section 11.             Assignment .  Except as set forth in Section 3, no rights or obligations of any party under this Agreement may be assigned or transferred to any other person or entity.

Section 12.             Governing Law .  THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE.  By its execution and delivery of this Agreement, each of the parties hereto hereby irrevocably and unconditionally agrees for itself that any legal action, suit or proceeding against it with respect to any matter under or arising out of or in connection with this Agreement or for recognition or enforcement o