Exhibit 10.7


 


FAST Acquisition Corp. II


109 Old Branchville Road


Ridgefield, CT 06877


 


January 6, 2021


 


FAST Sponsor II LLC

109 Old Branchville Road

Ridgefield, CT 06877


 


RE: Securities Subscription
Agreement


 


Ladies and Gentlemen:


 


This letter agreement
(the “Agreement”) is entered into on January 6, 2021 by and between FAST Acquisition Corp. II, a Delaware
corporation (the “Company,” “we” or “us”) and FAST Sponsor II LLC,
a Delaware limited liability company (the “Subscriber” or “you”). Pursuant to the terms hereof,
the Company hereby accepts the offer the Subscriber has made to purchase 5,750,000 shares (the “Shares”) of
Class B common stock of the Company, $0.0001 par value per share (“Common Stock”), up to 750,000 of which
are subject to forfeiture by you to the extent that the underwriters of the initial public offering (“IPO”)
of the Company’s units, each comprised of one share of Common Stock and one, or a portion of one, warrant to purchase one
share of Common Stock (“Units”), do not fully exercise their option to purchase additional Units to cover over-allotments,
if any (the “Over-allotment Option”). The terms of the sale by the Company of the Shares to the Subscriber,
and the Company and the Subscriber’s agreements regarding the Shares, are as follows:


 


1.
Purchase of Securities.


 


1.1. 
Purchase of Shares. For the sum of $25,000 (the “Purchase Price”), which the Company acknowledges
receiving in cash, the Company hereby issues the Shares to the Subscriber, and the Subscriber hereby purchases the Shares from
the Company, subject to forfeiture, on the terms and subject to the conditions set forth in this Agreement. Concurrently with the
Subscriber’s execution of this Agreement, the Company shall, at its option, deliver to the Subscriber a certificate registered
in the Subscriber’s name representing the Shares (the “Original Certificate”), or effect such delivery
in book-entry form.


 


2.
Representations, Warranties and Agreements.


 


2.1. 
Subscriber’s Representations, Warranties and Agreements. To induce the Company to issue the Shares to the Subscriber,
the Subscriber hereby represents and warrants to the Company and agrees with the Company as follows:


 


2.1.1.
Organization and Authority. The Subscriber is a limited liability company, duly organized, validly existing and in
good standing under the laws of the State of Delaware, and possesses all requisite power and authority necessary to carry out the
transactions contemplated by this Agreement. Upon the execution and delivery by the Subscriber, this Agreement will be a legal,
valid and binding agreement of the Subscriber, enforceable against the Subscriber in accordance with its terms, except as such
enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement
of creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is sought in
a proceeding at law or in equity).


 


2.1.2.
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Subscriber of
the transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing
documents of the Subscriber, (ii) any agreement, indenture or instrument to which the Subscriber is a party or (iii) any
law, statute, rule, regulation, order, judgment or decree to which the Subscriber is subject.


 






    


     


    

 


2.1.3.
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required,
necessary or appropriate on the part of the Subscriber in connection with the transactions contemplated by this Agreement.


 


2.1.4.
Experience, Financial Capability and Suitability. The Subscriber is (i) sophisticated in financial matters and
is able to evaluate the risks and benefits of the investment in the Shares, and (ii) able to bear the economic risk of its
investment in the Shares for an indefinite period of time, because the Shares have not been registered under the Securities Act
of 1933, as amended (the “Securities Act”), and therefore cannot be sold unless such transaction is registered
under the Securities Act or an exemption from such registration is available. The Subscriber is capable of evaluating the merits
and risks of its investment in the Company and has the capacity to protect its own interests. The Subscriber is capable of evaluating
the merits and risks of its investment in the Company and has the capacity to protect its own interests. The Subscriber must bear
the economic risk of this investment until the Shares are sold pursuant to: (i) an effective registration statement under
the Securities Act or (ii) an exemption from registration available with respect to such sale. The Subscriber is able to bear
the economic risks of an investment in the Shares for an indefinite period of time and to afford a complete loss of the Subscriber’s
investment in the Shares.


 


2.1.5.
No Government Recommendation or Approval. The Subscriber understands that no U.S. federal or state agency has
passed upon or made any recommendation or endorsement of the offering of the Shares.


 


2.1.6.
Access to Information; Independent Investigation. Prior to the execution of this Agreement, the Subscriber has had
the opportunity to ask questions of and receive answers from representatives of the Company concerning an investment in the Company,
as well as the financial condition, business and prospects of the Company, and the opportunity to obtain additional information
to verify the accuracy of all information so obtained. In determining whether to make this investment, the Subscriber has relied
solely on the Subscriber’s own knowledge and understanding of the Company and its business based upon the Subscriber’s
own due diligence investigation and the information furnished pursuant to this paragraph. The Subscriber understands that no person
has been authorized to give any information or to make any representations which were not furnished pursuant to this Section 2
and the Subscriber has not relied on any other written or oral representations relating to the financial condition, business and
prospects of the Company in making its investment decision, whether written or oral, relating to the Company, its operations and/or
its prospects.


 


2.1.7.
Investment Representations. The Subscriber represents that it is an “accredited investor” as such term
is defined in Rule 501(a) of Regulation D under the Securities Act and acknowledges the sale contemplated hereby is being
made in reliance on a private placement exemption in Section 4(a)(2) of the Securities Act to “accredited investors”
within the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under state law.


 


2.1.8.
Investment Purposes. The Subscriber is purchasing the Shares solely for investment purposes, for the Subscriber’s
own account and not for the account or benefit of any other person, and not with a view towards the distribution or dissemination
thereof. The Subscriber did not decide to enter into this Agreement as a result of any general solicitation or general advertising
within the meaning of Rule 502 of Regulation D under the Securities Act.


 


2.1.9.
Restrictions on Transfer; Shell Company. The Subscriber understands the Shares are being offered in a transaction
not involving a public offering within the meaning of the Securities Act. The Subscriber understands the Shares will be “restricted
securities” within the meaning of Rule 144(a)(3) under the Securities Act, and the Subscriber understands that the certificates
or book-entries representing the Shares will contain a legend or notation in respect of such restrictions. If, in the future, the
Subscriber decides to offer, resell, pledge or otherwise transfer the Shares, such Shares may be offered, resold, pledged or otherwise
transferred only pursuant to: (i) an effective registration statement under the Securities Act or (ii) an exemption from
registration available with respect to such sale. The Subscriber agrees that if any transfer of its Shares or any interest therein
is proposed to be made, as a condition precedent to any such transfer, the Subscriber may be required to deliver to the Company
an opinion of counsel satisfactory to the Company. Absent registration or available exemption, the Subscriber agrees not to resell
the Shares. The Subscriber further acknowledges that because the Company is a shell company, Rule 144 may not be available
to the Subscriber for the resale of the Shares until one year following consummation of the initial business combination of the
Company, despite technical compliance with the requirements of Rule 144 and the release or waiver of any contractual transfer
restrictions.


 






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2.2. 
Company’s Representations, Warranties and Agreements. To induce the Subscriber to purchase the Shares, the
Company hereby represents and warrants to the Subscriber, and agrees with the Subscriber, as follows:


 


2.2.1.
Organization and Authority. The Company is a corporation, duly organized, validly existing and in good standing under
the laws of the State of Delaware, and possesses all requisite power and authority necessary to carry out the transactions contemplated
by this Agreement. Upon the execution and delivery by the Company, this Agreement will be a legal, valid and binding agreement
of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable
bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights generally and
subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity).


 


2.2.2.
No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the
transactions contemplated hereby do not violate, conflict with or constitute a default under (i) the formation and governing
documents of the Company, (ii) any agreement, indenture or instrument to which the Company is a party or (iii) any law,
statute, rule, order, judgment or decree to which the Company is subject.


 


2.2.3.
No Governmental Consents. No governmental, administrative or other third party consents or approvals are required,
necessary or appropriate on the part of the Company in connection with the transactions contemplated by this Agreement.


 


2.2.4.
Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the Shares will
be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment pursuant to, the terms
hereof, the Subscriber will have or receive good title to the Shares, free and clear of all liens, claims and encumbrances of any
kind, other than (a) transfer restrictions hereunder and other agreements to which the Shares may become subject, which have
been notified to the Subscriber in writing, (b) transfer restrictions under U.S. federal and state securities laws, and
(c) liens, claims or encumbrances imposed due to the actions of the Subscriber.


 


2.2.5.
No Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting
the Company which: (i) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated
by this Agreement or (ii) question the validity or legality of any transactions or seeks to recover damages or to obtain other
relief in connection with any transactions.


 


3.
Forfeiture of Shares.


 


3.1. 
Partial or No Exercise of the Over-allotment Option. In the event the Over-allotment Option granted to the underwriters
of the Company’s IPO is not exercised in full, the Subscriber acknowledges and agrees that it (or, if applicable, it and/or
any transferees of Shares) shall forfeit any and all rights to such number of Shares (up to an aggregate of 750,000 Shares (as
such amount may be adjusted for share splits, share dividends, reorganizations, recapitalizations and the like) and pro rata based
upon the percentage of the Over-allotment Option exercised) such that immediately following such forfeiture, the Subscriber (and
all other initial stockholders of the Company prior to the IPO, if any) will own an aggregate number of Shares equal to 20% of
the issued and outstanding Shares immediately following the IPO (including Units issued following exercise of the Over-allotment
Option by the underwriters) plus the number of Shares issued and outstanding following any such forfeiture.


 






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3.2. 
Downsize of IPO. In the event the total number of Units offered and sold in the IPO (including Units issued following
exercise of the Over-allotment Option by the underwriters) is less than Units, the Subscriber acknowledges and agrees that it shall
surrender for no consideration any and all rights to such number of Shares (pro rata based upon the reduction of Units below 20,000,000)
such that immediately following such surrender, the Subscriber (together with any person to whom the Subscriber has transferred
any such Shares) will own an aggregate number of Shares (not including Shares issuable upon exercise of any warrants or any Shares
purchased by Subscriber in the Company’s IPO or in the aftermarket) equal to 20% of the issued and outstanding Units immediately
following the IPO (including Units issued following exercise of the Over-allotment Option by the underwriters) plus the number
of Shares issued and outstanding following any such surrender.


 


3.3. 
Termination of Rights as Stockholder. If any of the Shares are forfeited in accordance with this Section 3,
then after such time the Subscriber (or its successor in interest), shall no longer have any rights as a holder of such forfeited
Shares, and the Company shall take such action as is appropriate to cancel such forfeited Shares.


 


3.4. 
Share Certificates. In the event an adjustment to the Original Certificates, if any, is required pursuant to this
Section 3, then the Subscriber shall return such Original Certificates to the Company or its designated agent as soon as practicable
upon its receipt of notice from the Company advising the Subscriber of such adjustment, following which a new certificate (the
“New Certificate”), if any, shall be issued in such amount representing the adjusted number of Shares held by
the Subscriber. The New Certificate, if any, shall be returned to the Subscriber as soon as practicable. Any such adjustment for
any uncertificated securities held by the Subscriber shall be made in book-entry form.


 


4.
Waiver of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this
Agreement, the Subscriber hereby waives any and all right, title, interest or claim of any kind in or to any distributions by the
Company from the trust account which will be established for the benefit of the Company’s public stockholders and into which
substantially all of the proceeds of the IPO will be deposited (the “Trust Account”) in the event of (i) the
Company’s failure to timely complete an initial business combination, (ii) an extension of the time period to complete
an initial business combination, or (iii) upon the consummation of an initial business combination. For purposes of clarity,
in the event the Subscriber purchases shares of Common Stock included in the Units issued in the IPO (“Public Shares”),
either in the IPO or in the aftermarket, any Public Shares so purchased shall be eligible to receive any liquidating distributions
by the Company from amounts held in the Trust Account in the event of the Company’s failure to timely complete an initial
business combination (but, for the avoidance of doubt, not in connection with an extension of the time period to complete an initial
business combination or upon the consummation of an initial business combination).


 


5.
Restrictions on Transfer.


 


5.1. 
Securities Law Restrictions. In addition to any restrictions to be contained in that certain letter agreement (commonly
known as an “Insider Letter”) to be dated as of the closing of the IPO by and between the Subscriber and the
Company (which will also contain other agreements with respect to the Shares), the Subscriber agrees not to sell, transfer, pledge,
hypothecate or otherwise dispose of all or any part of the Shares unless, prior thereto, (a) a registration statement on the
appropriate form under the Securities Act and applicable state securities laws with respect to the Shares proposed to be transferred
shall then be effective or (b) the Company has received an opinion from counsel, reasonably satisfactory to the Company, that
such registration is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated
by the U.S. Securities and Exchange Commission thereunder and with all applicable state securities laws.


 


5.2. 
Restrictive Legends. Any certificates representing the Shares shall have endorsed thereon legends substantially as
follows (and any book-entries representing the Shares shall have similar notations):


 


“THE SECURITIES REPRESENTED HEREBY
HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND NEITHER THE SECURITIES
NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH,
IN THE OPINION OF COUNSEL, IS AVAILABLE.”


 


“THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER SET FORTH IN A LETTER AGREEMENT WITH THE COMPANY (A COPY OF
WHICH MAY BE OBTAINED FROM THE COMPANY AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE) AND MAY NOT BE OFFERED,
SOLD, TRANSFERRED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF IN VIOLATION OF SUCH RESTRICTIONS.”


 






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5.3. 
Additional Shares or Substituted Securities. In the event of the declaration of a share dividend, the declaration
of an extraordinary dividend payable in a form other than Shares, a spin-off, a share split, an adjustment in conversion ratio,
a recapitalization or a similar transaction affecting the Company’s outstanding Shares without receipt of consideration,
any new, substituted or additional securities or other property which are by reason of such transaction distributed with respect
to any Shares subject to this Section 5 or into which such Shares thereby become convertible shall immediately be subject
to this Section 5 and Section 3 hereof. Appropriate adjustments to reflect the distribution of such securities or property
shall be made to the number and/or class of Shares subject to this Section 5 and Section 3.


 


5.4. 
Registration Rights. The Subscriber acknowledges that the Shares are being purchased pursuant to an exemption from
the registration requirements of the Securities Act and will become freely tradable only after certain conditions are met or they
are registered pursuant to a registration rights agreement to be entered into with the Company prior to the closing of the IPO.


 


6.
Other Agreements.


 


6.1. 
Further Assurances. The Subscriber agrees to execute such further instruments and to take such further action as
may reasonably be necessary to carry out the intent of this Agreement.


 


6.2. 
Notices. All notices, statements or other documents which are required or contemplated by this Agreement shall be
in writing and delivered (i) personally or sent by first class registered or certified mail (return receipt requested), overnight
courier service or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile to the number
most recently provided to such party or such other address, or fax number as may be designated in writing to such party, or (iii) by
electronic mail at the electronic mail address most recently provided to such party or such other electronic mail address as may
be designated in writing. All such notices, statements or other documents shall be deemed received on the date of receipt by the
recipient thereof if received prior to 8:00 p.m. on a business day in the place of receipt. Otherwise, any such notices, statements
or other documents or communications so transmitted shall be deemed to have been received on the next succeeding business day in
the place of receipt.


 


6.3. 
Entire Agreement. This Agreement, together with that certain Insider Letter and the registration rights agreement
to be entered into with respect to the Shares, each substantially in the form to be filed as an exhibit to the Registration Statement
on Form S-1 associated with the Company’s IPO, embodies the entire agreement and understanding between the Subscriber and
the Company with respect to the subject matter hereof and supersedes all prior oral or written agreements and understandings relating
to the subject matter hereof. No statement, representation, warranty, covenant or agreement of any kind not expressly set forth
in this Agreement shall affect, or be used to interpret, change or restrict, the express terms and provisions of this Agreement.


 


6.4. 
Modifications and Amendments. The terms and provisions of this Agreement may be modified or amended only by written
agreement executed by all parties hereto.


 


6.5. 
Waivers and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom
granted, only by a written document executed by the party entitled to the benefits of such terms or provisions. No such waiver
or consent shall be deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this
Agreement, whether or not similar. Each such waiver or consent shall be effective only in the specific instance and for the purpose
for which it was given, and shall not constitute a continuing waiver or consent.


 






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6.6. 
Assignment. The rights and obligations under this Agreement may not be assigned by either party hereto without the
prior written consent of the other party.


 


6.7. 
Benefit. All statements, representations, warranties, covenants and agreements in this Agreement shall be binding
on the parties hereto and shall inure to the benefit of the respective successors and permitted assigns of each party hereto. Nothing
in this Agreement shall be construed to create any rights or obligations except among the parties hereto, and no person or entity
shall be regarded as a third-party beneficiary of this Agreement.


 


6.8. 
Governing Law. This Agreement and the rights and obligations of the parties hereunder shall be construed in accordance
with and governed by the laws of the State of Delaware applicable to contracts wholly performed within the borders of such state,
without giving effect to the conflict of law principles thereof.


 


6.9. 
Severability. In the event that any court of competent jurisdiction shall determine that any provision, or any portion
thereof, contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed
limited to the extent that such court deems it reasonable and enforceable, and, as so limited, shall remain in full force and effect.
In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions
of this Agreement shall nevertheless remain in full force and effect.


 


6.10. 
No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or
remedy under this Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right,
power or remedy of such party. No single or partial exercise of any right, power or remedy under this Agreement by a party hereto,
nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other
or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of any remedy by a party
hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a
party not expressly required under this Agreement shall entitle the party receiving such notice or demand to any other or further
notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand
to any other or further action in any circumstances without such notice or demand.


 


6.11. 
Survival of Representations and Warranties. All representations and warranties made by the parties hereto in this
Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution
and delivery hereof and any investigations made by or on behalf of the parties.


 


6.12. 
No Broker or Finder. Each of the parties hereto represents and warrants to the other that no broker, finder or other
financial consultant has acted on its behalf in connection with this Agreement or the transactions contemplated hereby in such
a way as to create any liability on the other. Each of the parties hereto agrees to indemnify and save the other harmless from
any claim or demand for commission or other compensation by any broker, finder, financial consultant or similar agent claiming
to have been employed by or on behalf of such party and to bear the cost of legal expenses incurred in defending against any such
claim.


 


6.13. 
Headings and Captions. The headings and captions of the various subdivisions of this Agreement are for convenience
of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.


 


6.14. 
Counterparts. This Agreement may be executed in one or more counterparts, all of which when taken together shall
be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered
to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is
delivered in pdf format via electronic mail or any other form of electronic delivery, such signature shall create a valid and binding
obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature
page were an original thereof.


 






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6.15. 
Construction. The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If
an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties
hereto and no presumption or burden of proof will arise favoring or disfavoring any party hereto because of the authorship of any
provision of this Agreement. The words “include,” “includes,” and “including”
will be deemed to be followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will
be construed to include any other gender, and words in the singular form will be construed to include the plural and vice versa,
unless the context otherwise requires. The words “this Agreement,” “herein,” “hereof,”
“hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole and
not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty, and
covenant contained herein will have independent significance. If any party hereto has breached any representation, warranty, or
covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to the
same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached will not detract
from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.


 


6.16. 
Mutual Drafting. This Agreement is the joint product of the Subscriber and the Company and each provision hereof
has been subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against
any party hereto.


 


7.
Voting and Tender of Shares. The Subscriber agrees to vote the Shares in favor of an initial business combination
that the Company negotiates and submits for approval to the Company’s stockholders and shall not seek redemption with respect
to such Shares. Additionally, the Subscriber agrees not to tender any Shares in connection with a tender offer presented to the
Company’s stockholders in connection with an initial business combination negotiated by the Company.


 


8.
Indemnification. Each party shall indemnify the other against any loss, cost or damages (including reasonable attorney’s
fees and expenses) incurred as a result of such party’s breach of any representation, warranty, covenant or agreement in
this Agreement.


 


[Signature Page Follows]


 




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If the foregoing accurately
sets forth our understanding and agreement, please sign the enclosed copy of this Agreement and return it to us.


 


	 	Very truly yours,
	 	 
	 	FAST ACQUISITION CORP. II
	 	 	 
	 	By:	/s/ Sandy Beall
	 	 	Name:Sandy Beall
	 	 	Title:Chief Executive Officer









 


Accepted and agreed as of the date first written above.


 





	 	FAST SPONSOR II LLC	 
	 	 	 	 
	 	By:	/s/ Garrett Schreiber	 
	 	 	Name:Garrett Schreiber	 
	 	 	Title:Manager	 


 


[Signature Page to Securities Subscription
Agreement]