Document:

Exhibit 4.2

 

RIGHTS AGREEMENT

 

This Rights Agreement (this “Agreement”)
is made as of December 9, 2021, by and between Financial Strategies Acquisition Corp., a Delaware corporation (the “Company”),
and Continental Stock Transfer & Trust Company, a New York corporation (the “Rights Agent”).

 

WHEREAS, the Company is engaged in a public offering
(the “Public Offering”) of 8,700,000 units (the “Public Units”) of the Company (and up to 1,305,000
additional Public Units if the underwriters’ over-allotment option is exercised in full), each Public Unit consisting of one share
of Class A common stock, par value $0.0001 per share (the “Common Stock”), one right to receive one-tenth of one
share of Common Stock upon the happening of the triggering event described herein (the “Public Right”), and one warrant
to purchase one share of Common Stock (the “Public Warrant”);

 

WHEREAS,
simultaneously with the Public Offering, FSC Sponsor LLC, Celtic Sponsor VII LLC, Sea Otter Securities Group LLC, Sixth Borough Capital
Fund LP (and certain members of its general partner), Eagle Point Credit Management LLC, Greentree Financial Group Inc. and I-Bankers
Securities, Inc. (collectively, the “Subscribers”) will be purchasing up to 459,275 private units (“Private
Units”) at $10.00 per Private Unit (for a total purchase price of $4,592,750), with each Private Unit consisting of one share
of Common Stock, one right to receive one-tenth of one share of Common Stock upon the happening of the triggering event described herein
(the “Private Right”), and one warrant to purchase one share of Common Stock (the “Private Warrant”);
the Subscribers have also agreed that if the over-allotment option is exercised by the underwriters, they will purchase up to a maximum
of an additional 45,675 Private Units at a price of $10.00 per Private Unit (for a total additional purchase price of $456,750);

 

WHEREAS,
in order to finance the Company’s transaction costs in connection with an intended initial Business Combination (as defined
in the Company’s Amended and Restated Certificate of Incorporation), FSC
Sponsor LLC, Celtic Sponsor VII LLC, an affiliate of FSC Sponsor LLC or Celtic Sponsor VII LLC or certain of the Company’s officers
and directors may loan to the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into
units (the “Working Capital Units,” and collectively with the Public Units and the Private Units, the “Units”),
each consisting of one share of Common Stock, one warrant exercisable for one share of Common Stock (the “Working Capital
Warrants”) and one right to receive one-tenth (1/10) of one share of Common Stock upon an initial business combination (the
 “Working Capital Rights,” and collectively with the Public Rights and the Private Rights, the “Rights”),
at a price of $10.00 per Working Capital Unit;

 

WHEREAS, the Company has filed with the Securities
and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File No. 333-260434 (the “Registration
Statement”), and related Prospectus (the “Prospectus”) for the registration, under the Securities Act of
1933, as amended (the “Act”), of, among other securities, the Rights and the shares of Common Stock issuable to the
holders of the Rights;

 

WHEREAS, the Company desires the Rights Agent
to act on behalf of the Company, and the Rights Agent is willing to so act, in connection with the issuance, registration, transfer and
exchange of the Rights;

 

WHEREAS, the Company desires to provide for the
form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights, limitation of rights, and immunities
of the Company, the Rights Agent, and the holders of the Rights; and

 

WHEREAS, all acts and things have been done and
performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned by or on behalf of the Rights
Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this
Agreement.

 

    	 		 

     

    

 

NOW, THEREFORE, in consideration of the mutual
agreements herein contained, the parties hereto agree as follows:

 

1. Appointment of Rights Agent. The
Company hereby appoints the Rights Agent to act as agent for the Company for the Rights, and the Rights Agent hereby accepts such appointment
and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Rights.

 

2.1. Form of Right. Each Right
shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions
of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board, the Chief Executive
Officer or the Chief Financial Officer of the Company. In the event the person whose facsimile signature has been placed upon any Right
shall have ceased to serve in the capacity in which such person signed the Right before such Right is issued, it may be issued with the
same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2. Effect of Countersignature. Unless
and until countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid and of no effect and may not be exchanged
for shares of Common Stock.

 

2.3. Registration.

 

2.3.1. Right Register. The Rights
Agent shall maintain books (the “Right Register”) for the registration of original issuance and the registration of
transfer of the Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register the Rights in the names of
the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Rights Agent by the
Company.

 

2.3.2. Registered Holder. Prior to
due presentment for registration of transfer of any Right, the Company and the Rights Agent may deem and treat the person in whose name
such Right shall be registered upon the Right Register (the “registered holder”) as the absolute owner of such Right
and of each Right represented thereby (notwithstanding any notation of ownership or other writing on the Right Certificate made by anyone
other than the Company or the Rights Agent), for the purpose of the exchange thereof, and for all other purposes, and neither the Company
nor the Rights Agent shall be affected by any notice to the contrary.

 

2.4. Detachability of Rights. Each
of the securities comprising the Units will begin to trade separately on (i) the 52nd day after the effectiveness of the Registration
Statement, or (ii) such earlier date as I-Bankers Securities, Inc., as representative of the underwriters, shall determine is
acceptable (such date, the “Detachment Date”). In no event will separate trading of the securities comprising the Units
commence until the Company (i) files a Current Report on Form 8-K with the SEC including an audited balance sheet reflecting
the Company’s receipt of the gross proceeds of the Public Offering and (ii) issues a press release announcing when such separate
trading will begin. Upon the Detachment Date, holders of Units will have the option to continue to hold Units or separate their Units
into the component pieces.

 

3. Terms and Exchange of Rights

 

3.1. Rights. Each Right shall entitle
the holder thereof to receive one-tenth of one share of Common Stock upon the happening of an Exchange Event (defined below). No additional
consideration shall be paid by a holder of Rights in order to receive his, her or its shares of Common Stock upon an Exchange Event as
the purchase price for such shares of Common Stock has been included in the purchase price for the Units. In no event will the Company
be required to net cash settle the Rights or issue fractional shares of Common Stock.

 

3.2. Exchange Event. An “Exchange
Event” shall occur upon the Company’s consummation of an initial Business Combination.

 

    	 		 

     

    

 

3.3. Exchange of Rights.

 

3.3.1. Issuance of Shares of Common Stock.
As soon as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the Rights to return their Rights
Certificates to the Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall issue to the registered holder of such
Right(s) the number of full shares of Common Stock to which he, she or it is entitled, registered in such name or names as may be
directed by him, her or it and issue to such registered holder(s) a certificate or book-entry position for such shares. Notwithstanding
the foregoing, or any provision contained in this Agreement to the contrary, in no event will the Company be required to net cash settle
the Rights. The Company shall not issue fractional shares upon exchange of Rights. In the event that any holder would otherwise be entitled
to any fractional share upon exchange of Rights, at the time of an Exchange Event, the Company will instruct the Rights Agent how any
such entitlement will be addressed. To the fullest extent permitted by the Company’s Amended and Restated Certificate of Incorporation
the Company reserves the right to deal with any such fractional entitlement at the relevant time in any manner permitted by the Act and
the Amended and Restated Certificate of Incorporation, which would include the rounding down of any entitlement to receive shares of Common
Stock to the nearest whole share (and in effect extinguishing any fractional entitlement), or the holder being entitled to hold any remaining
fractional entitlement (without any share being issued) and to aggregate the same with any future fractional entitlement to receive shares
in the Company until the holder is entitled to receive a whole number. Any rounding down and extinguishment may be done with or without
any in lieu cash payment or other compensation being made to the holder of the relevant Rights, such that value received on exchange of
the Rights may be considered less than the value that the holder would otherwise expect to receive.

 

3.3.2. Valid Issuance. All shares
of Common Stock issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully paid and nonassessable.

 

3.3.3. Date of Issuance. Each person
in whose name any such certificate or book-entry position for shares of Common Stock is issued shall for all purposes be deemed to have
become the holder of record of such shares on the date of the Exchange Event, irrespective of the date of delivery of such certificate
or entry of position.

 

3.3.4 Company Not Surviving Following
Exchange Event. Upon an Exchange Event in which the Company does not continue as the publicly held reporting entity, the definitive
agreement will provide for the holders of Rights to receive the same per share consideration the holders of the shares of Common Stock
will receive in such transaction, for the number of shares such holder is entitled to pursuant to Section 3.3.1 above. If the Company
does not continue as the publicly held reporting entity upon an Exchange Event, each holder of a Right will be required to affirmatively
convert his/her or its rights in order to receive the one-tenth of one share underlying each right (without paying any additional consideration)
upon consummation of the Exchange Event. In such a case, each holder of a Right will be required to indicate his, her or its election
to convert the Rights into underlying shares of Common Stock as well as to return the original certificates evidencing the Rights to the
Company.

 

3.5 Duration of Rights. If an Exchange
Event does not occur within the time period set forth in the Company’s Amended and Restated Certificate of Incorporation, as the
same may be amended from time to time, the Rights shall expire and shall be worthless.

 

4. Transfer and Exchange of Rights.

 

4.1. Registration of Transfer. The
Rights Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register, upon surrender of such
Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer. Upon
any such transfer, a new Right representing an equal aggregate number of Rights shall be issued and the old Right shall be cancelled by
the Rights Agent. The Rights so cancelled shall be delivered by the Rights Agent to the Company from time to time upon request.

 

4.2. Procedure for Surrender of Rights.
Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer, and thereupon the Rights Agent
shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights so surrendered, representing
an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for transfer bears a restrictive legend
and the new Rights to be issued will not bear a restrictive legend, the Rights Agent shall not cancel such Right and issue new Rights
in exchange therefor until the Rights Agent has received an opinion of counsel for the Company stating that such transfer may be made
and indicating no restrictive legend is required.

 

4.3. Fractional Rights. The Rights
Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of a Right Certificate
for a fraction of a Right.

 

    	 		 

     

    

 

4.4. Service Charges. No service charge
shall be made for any exchange or registration of transfer of Rights.

 

4.5. Adjustments to Conversion Ratios.
The number of shares of Common Stock that the holders of Rights are entitled to receive as a result of the occurrence of an Exchange Event
shall be equitably adjusted to reflect appropriately the effect of any share split, reverse share split, share dividend, reorganization,
recapitalization, reclassification, combination, exchange of shares or other like change with respect to the shares of Common Stock occurring
on or after the date hereof and prior to the Exchange Event.

 

4.6. Right Execution and Countersignature.
The Rights Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Rights required
to be issued pursuant to the provisions of this Section 4, and the Company, whenever required by the Rights Agent, will supply the
Rights Agent with Rights duly executed on behalf of the Company for such purpose.

 

5. Other Provisions Relating to Rights
of Holders of Rights.

 

5.1. No Rights as Stockholder. Until
the exchange of a Right for shares of Common Stock as provided for herein, a Right does not entitle the registered holder thereof to any
of the rights of a stockholder of the Company, including, without limitation, the right to receive dividends, or other distributions,
exercise any preemptive rights to vote or to consent or to receive notice as stockholders in respect of the meetings of stockholders or
the election of directors of the Company or any other matter.

 

5.2. Lost, Stolen, Mutilated, or Destroyed
Rights. If any Right is lost, stolen, mutilated, or destroyed, the Company and the Rights Agent may on such terms as to indemnity
or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Right, include the surrender thereof), issue
a new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated, or destroyed. Any such new Right shall constitute
a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Right shall be
at any time enforceable by anyone.

 

5.3. Reservation of Shares of Common Stock.
The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that will be
sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

6. Concerning the Rights Agent and Other
Matters.

 

6.1. Payment of Taxes. The Company
will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Rights Agent in respect of the issuance
or delivery of shares of Common Stock upon the exchange of Rights, but the Company shall not be obligated to pay any transfer taxes in
respect of the Rights or such shares of Common Stock.

 

6.2. Resignation, Consolidation, or Merger
of Rights Agent.

 

6.2.1. Appointment of Successor Rights
Agent. The Rights Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further duties
and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the Rights Agent becomes
vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Rights Agent in place of the
Rights Agent. If the Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such
resignation or incapacity by the Rights Agent or by the holder of the Right (who shall, with such notice, submit his, her or its Right
for inspection by the Company), then the holder of any Right may apply to the Supreme Court of the State of New York for the County of
New York for the appointment of a successor Rights Agent at the Company’s cost. Any successor Rights Agent, whether appointed by
the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good standing
and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate
trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Rights Agent shall
be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Rights Agent with like effect
as if originally named as Rights Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate,
the predecessor Rights Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Rights
Agent all the authority, powers, and rights of such predecessor Rights Agent hereunder; and upon request of any successor Rights Agent
the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in
and confirming to such successor Rights Agent all such authority, powers, rights, immunities, duties, and obligations.

 

    	 		 

     

    

 

6.2.2. Notice of Successor Rights Agent.
In the event a successor Rights Agent shall be appointed, the Company shall give notice thereof to the predecessor Rights Agent and the
transfer agent for the shares of Common Stock not later than the effective date of any such appointment.

 

6.2.3. Merger or Consolidation of Rights
Agent. Any corporation into which the Rights Agent may be merged or with which it may be consolidated or any corporation resulting
from any merger or consolidation to which the Rights Agent shall be a party shall be the successor Rights Agent under this Agreement without
any further act.

 

6.3. Fees and Expenses of Rights Agent.

 

6.3.1. Remuneration. The Company agrees
to pay the Rights Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse the Rights Agent upon
demand for all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.

 

6.3.2. Further Assurances. The Company
agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such further
and other acts, instruments, and assurances as may reasonably be required by the Rights Agent for the carrying out or performing of the
provisions of this Agreement.

 

6.4. Liability of Rights Agent.

 

6.4.1. Reliance on Company Statement.
Whenever in the performance of its duties under this Agreement, the Rights Agent shall deem it necessary or desirable that any fact or
matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence
in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by
the Chief Executive Officer or Chief Financial Officer and delivered to the Rights Agent. The Rights Agent may rely upon such statement
for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

6.4.2. Indemnity. The Rights Agent
shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. Subject to Section 6.6 below, the Company
agrees to indemnify the Rights Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel
fees, for anything done or omitted by the Rights Agent in the execution of this Agreement except as a result of the Rights Agent’s
gross negligence, willful misconduct, or bad faith.

 

6.4.3. Exclusions. The Rights Agent
shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Right
(except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained
in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization
or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Right or as to whether any shares of Common
Stock will when issued be valid and fully paid and nonassessable.

 

6.5. Acceptance of Agency. The Rights
Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set
forth.

 

6.6 Waiver. The Rights Agent hereby
waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution
of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the
Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for
any Claim against the Trust Account for any reason whatsoever.

 

    	 		 

     

    

 

7. Miscellaneous Provisions.

 

7.1. Successors. All the covenants
and provisions of this Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure to the benefit of their
respective successors and assigns.

 

7.2. Notices. Any notice, statement
or demand authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right to or on the Company shall
be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within
five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the
Rights Agent), as follows:

 

Financial Strategies Acquisition Corp.

2626 Cole Avenue, Suite 300

Dallas, Texas 75204

 

with a copy (which shall not constitute notice)
to:

 

Haynes and Boone, LLP

2323 Victory Ave, Suite 700

Dallas, Texas 75219

Attn: Matthew L. Fry, Esq.

 

Any notice, statement or demand authorized by
this Agreement to be given or made by the holder of any Right or by the Company to or on the Rights Agent shall be sufficiently given
when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit
of such notice, postage prepaid, addressed (until another address is filed in writing by the Rights Agent with the Company), as follows:

 

Continental Stock Transfer & Trust Company

 

One State Street, 30th Floor

New York, New York 10004

Attn: Compliance Department

 

7.3. Applicable Law and Exclusive Forum.
The validity, interpretation, and performance of this Agreement and of the Rights shall be governed in all respects by the laws of the
State of New York, without giving effect to conflict of laws. Subject to applicable law, the Company and the Rights Agent hereby agree
that any action, proceeding or claim against either of them arising out of or relating in any way to this Agreement shall be brought and
enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive forum for any such action, proceeding or claim. The Company and the
Rights Agent hereby waive any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Notwithstanding
the foregoing, the provisions of this paragraph will not apply to suits brought to enforce any liability or duty created by the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), any other claim for which the federal district courts of the
United States of America are the sole and exclusive forum, or any complaint asserting a cause of action arising under the Act against
us or any of our directors, officers, other employees or agents. Section 27 of the Exchange Act creates exclusive federal jurisdiction
over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder.

 

Any person or entity purchasing or otherwise acquiring
any interest in the Rights shall be deemed to have notice of and to have consented to the forum provisions in this Section 7.3. If
any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court located
within the State of New York or the United States District Court for the Southern District of New York (a “foreign action”)
in the name of any Rights holder, such Rights holder shall be deemed to have consented to: (x) the personal jurisdiction of the state
and federal courts located within the State of New York or the United States District Court for the Southern District of New York in connection
with any action brought in any such court to enforce the forum provisions (an “enforcement action”), and (y) having
service of process made upon such Rights holder in any such enforcement action by service upon such Rights holder’s counsel in the
foreign action as agent for such Rights holder.

 

    	 		 

     

    

 

7.4. Persons Having Rights under this
Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions hereof is intended, or shall
be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the registered holders of the Rights
and any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement
hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall be for the sole and exclusive
benefit of the parties hereto and their successors and assigns and of the registered holders of the Rights.

  

7.5. Examination of the Right Agreement.
A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent in the Borough of Manhattan, City
and State of New York, for inspection by the registered holder of any Right. The Rights Agent may require any such holder to submit his,
her or its Right for inspection by it.

 

7.6. Counterparts. This Agreement
may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed to
be an original, and all such counterparts shall together constitute but one and the same instrument.

 

7.7. Effect of Headings. The Section headings
herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.

 

7.8 Amendments. This Agreement may
be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity, or of curing, correcting
or supplementing any defective provision contained herein or adding or changing any other provisions with respect to matters or questions
arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest
of the registered holders. All other modifications or amendments shall require the written consent or vote of the registered holders of
a majority of the then outstanding Rights.

 

7.9 Severability. This Agreement shall
be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability
of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision,
the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable
provision as may be possible and be valid and enforceable.

 

[Signature Page Follows]

 

    	 		 

     

    

 

IN WITNESS WHEREOF, this Agreement has been duly executed by
the parties hereto as of the day and year first above written.

 

	 	FINANCIAL STRATEGIES ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Jamie Khurshid 
	 	Name:	Jamie Khurshid
	 	Title:	Chief Executive Officer

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY
	 	 	 
	 	By:	/s/ Douglas Reed 
	 	Name:	Douglas Reed 
	 	Title:	Vice President

 

[Signature Page to Rights Agreement]Exhibit 10.2

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Investment Management
Trust Agreement (this “Agreement”) is made as of December 9, 2021 by and between Financial Strategies Acquisition
Corp., a Delaware corporation (the “Company”), and Continental Stock Transfer & Trust Company, a New York
corporation (the “Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, No. 333-260434 (“Registration Statement”) for its initial public offering
of securities (“IPO”) has been declared effective as of the date hereof (“Effective Date”) by the
U.S. Securities and Exchange Commission (capitalized terms used herein and not otherwise defined shall have the meanings set forth in
the Registration Statement);

 

WHEREAS, I-Bankers
Securities, Inc. (the “Representative”) is acting as representative of the underwriters in the IPO;

 

WHEREAS,
simultaneously with the IPO, FSC Sponsor LLC, Celtic Sponsor VII LLC, Sea Otter Securities Group LLC, Sixth Borough Capital Fund LP (and
certain members of its general partner), Eagle Point Credit Management LLC, Greentree Financial Group Inc. and I-Bankers Securities, Inc.
(collectively, the “Subscribers”) will be purchasing up to 459,275 private units (“Private Units”)
at $10.00 per Private Unit (for a total purchase price of $4,592,750); the Subscribers have also agreed that if the over-allotment option
is exercised by the underwriters, they will purchase up to a maximum of an additional 45,675 Private Units at a price of $10.00 per Private
Unit (for a total additional purchase price of $456,750);

 

WHEREAS, as described in the
Registration Statement, and in accordance with the Company’s Amended and Restated Certificate of Incorporation, as the same may
be amended from time to time (the “Charter”), an aggregate of $87,870,000 of the gross proceeds of the IPO and sale
of the Private Units ($101,050,500 if the underwriters’ over-allotment option is exercised in full) will be delivered to the Trustee
to be deposited and held in a segregated trust account located at all times in the United States (the “Trust Account”)
for the benefit of the Company and the holders of the Company’s shares of Class A common stock, par value $0.0001 per share
(“Class A Common Stock,” and together with the Company’s Class B common stock, par value $0.0001 per
share, “Common Stock”), issued in the IPO as hereinafter provided (the proceeds to be delivered to the Trustee will
be referred to herein as the “Property;” the shareholders for whose benefit the Trustee shall hold the Property will
be referred to as the “Public Shareholders,” and the Public Shareholders and the Company will be referred to together
as the “Beneficiaries”);

 

WHEREAS, pursuant to the Underwriting
Agreement, a portion of the Property equal to $3,045,000, or $3,501,750 if the underwriters’ over-allotment option is exercised
in full, is attributable to marketing services that may become payable by the Company to the Representative upon the consummation of an
initial business combination (as described in the Registration Statement) (the “Marketing Fee”); and

 

WHEREAS, the Company and the
Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

 

NOW THEREFORE, IT IS
AGREED:

 

1. Agreements and
Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a) Hold the Property in
trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account at J.P. Morgan Chase Bank, N.A. (or at
another U.S. chartered commercial bank with consolidated assets of $100 billion or more), maintained by Trustee, and at a brokerage institution
selected by the Trustee that is reasonably satisfactory to the Company;

 

(b) Manage, supervise and
administer the Trust Account subject to the terms and conditions set forth herein;

 

(c) In a timely manner,
upon the instruction of the Company, invest and reinvest the Property (i) in United States “government securities” within
the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”),
having a maturity of 185 days or less and/or (ii) in money market funds meeting certain conditions under Rule 2a-7 promulgated
under the Investment Company Act and that invest solely in U.S. treasuries, as determined by the Company, it being understood that the
Trust Account will earn no interest while the account funds are uninvested awaiting the Company’s instructions hereunder; while
the account funds are invested or uninvested, the Trustee may earn bank credits and other consideration;

 

     

     

    

 

(d) Collect and receive,
when due, all principal and income arising from the Property, which shall become part of the “Property,” as such term is used
herein;

 

(e) Notify the Company
and the Representative of all communications received by it with respect to any Property requiring action by the Company;

 

(f) Supply any necessary
information or documents as may be requested by the Company in connection with the Company’s preparation of its tax returns;

 

(g) Participate in any
plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when instructed by the Company
to do so;

 

(h) Render to the Company
monthly written statements of the activities of and amounts in the Trust Account reflecting all receipts and disbursements of the Trust
Account; and

 

(i) Commence liquidation
of the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter from the Company (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B,
as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer, or Chairman of the board of directors
of the Company (the “Board”) or other authorized officer of the Company, and, in the case of a Termination Letter in
a form substantially similar to that attached hereto as Exhibit A, acknowledged and agreed to by the Representative,
complete the liquidation of the Trust Account and distribute the Property in the Trust Account, including interest not previously released
to the Company to pay its taxes (less up to $100,000 of interest that may be released to the Company to pay dissolution expenses), only
as directed in the Termination Letter and the other documents referred to therein; provided, however, that in the event that a Termination
Letter has not been received by the Trustee by the 12-month anniversary of the closing of the IPO (the “Closing”) or,
in the event that the Company extended the time to complete the Business Combination for up to 18 months from the Closing but has not
completed the Business Combination within such 18-month period, the 18-month anniversary of the Closing (as applicable, the “Applicable
Deadline”), the Trust Account shall be liquidated in accordance with the procedures set forth in the Termination Letter attached
as Exhibit B hereto and including interest not previously released to the Company to pay its taxes (less up to $100,000
of interest that may be released to the Company to pay dissolution expenses), distributed to the Public Shareholders as of the Applicable
Deadline.

 

(j) Upon receipt of an
extension letter (“Extension Letter”) substantially similar to Exhibit D hereto at least five
business days prior to the Applicable Deadline, signed on behalf of the Company by an executive officer, and receipt of the dollar amount
specified in the Extension Letter on or prior to the Applicable Deadline, to follow the instructions set forth in the Extension Letter.

 

(k) Not disburse any amounts
from the Trust Account in connection with a Business Combination in the event that the amount per share to be received by the redeeming
Public Shareholders is less than $10.10 per share (plus the amount per share deposited in the Trust Account pursuant to any Extension
Letter).

 

(l) In connection with
a Business Combination, before making disbursements to the Depository Trust Company, the Company or any other person, disburse the per
share amount to redeeming Public Shareholders (other than shares tendered through the Depository Trust Company) that have tendered their
shares directly to the Trustee.

 

2. Limited Distributions
of Income from Trust Account.

 

(a) Upon written request
from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit C,
the Trustee shall distribute to the Company the amount of interest income earned on the Trust Account requested by the Company to cover
any income or other tax obligations owed by the Company.

 

     

     

    

 

(b) The limited distributions
referred to in Section 2(a) above shall be made only from income collected on the Property. Except as provided in Section 2(a),
no other distributions from the Trust Account shall be permitted except in accordance with Section 1(i) hereof.

 

(c) The Company shall provide
the Representative with a copy of any Termination Letters and/or any other correspondence that it issues to the Trustee with respect to
any proposed withdrawal from the Trust Account promptly after such issuance.

 

(d) If applicable, the
Company shall issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior to
the Applicable Deadline, the Company received notice from the Company’s sponsor or its affiliates or designees that the sponsor
or its affiliates or designees intend to extend the Applicable Deadline.

 

(e) Promptly following
the Applicable Deadline, disclose whether or not the term the Company has to consummate a Business Combination has been extended.

 

3. Agreements and
Covenants of the Company. The Company hereby agrees and covenants to:

 

(a) Give all instructions
to the Trustee hereunder in writing, signed by the Company’s Chairman of the Board, Chief Executive Officer or Chief Financial Officer.
In addition, except with respect to its duties under paragraphs 1(i) and 2(a) above, the Trustee shall be entitled to rely on,
and shall be protected in relying on, any verbal or telephonic advice or instruction which it in good faith believes to be given by any
one of the persons authorized above to give written instructions, provided that the Company shall promptly confirm such instructions in
writing.

 

(b) Subject to the provisions
of Sections 5 and 7(h) of this Agreement, hold the Trustee harmless and indemnify the Trustee from and against, any and all expenses,
including reasonable counsel fees and disbursements, or loss suffered by the Trustee in connection with any claim, potential claim, action,
suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or demand which in any way arises
out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or any income earned from investment of the
Property, except for expenses and losses resulting from the Trustee’s gross negligence or willful misconduct. Promptly after the
receipt by the Trustee of notice of demand or claim or the commencement of any action, suit or proceeding, pursuant to which the Trustee
intends to seek indemnification under this paragraph, it shall notify the Company in writing of such claim (hereinafter referred to as
the “Indemnified Claim”); provided, however, that the Trustee’s failure to provide such notice shall not relieve
the Company of its liability hereunder, except to the extent that it is materially prejudiced by such failure. The Trustee shall have
the right to conduct and manage the defense against such Indemnified Claim, provided, that the Trustee shall obtain the consent of the
Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to settle
any Indemnified Claim without the prior written consent of the Company, which consent shall not be unreasonably withheld or delayed. The
Company may participate in such action with its own counsel.

 

(c) Pay the Trustee an
initial acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Section 2(a) as
set forth on Schedule A hereto, which fees shall be subject to modification by the parties from time to time. It is expressly
understood that the Property shall not be used to pay such fees and further agreed that any fees owed to the Trustee shall be deducted
by the Trustee from the disbursements made to the Company pursuant to Sections 1(i) solely in connection with the consummation of
the Company’s initial acquisition, share exchange, share reconstruction and amalgamation, purchase of all or substantially all of
the assets of, or any other similar business combination with, one or more businesses or entities (a “Business Combination”).
The Company shall pay the Trustee the initial acceptance fee and first year’s fee at the consummation of the IPO and thereafter
on the anniversary of the Effective Date. Except as set forth in this Section 3(c) and Section 3(b) hereof, the Company
shall not be responsible for any other fees or charges of the Trustee.

 

     

     

    

 

(d) In connection with
any vote of the Company’s shareholders regarding a Business Combination, provide to the Trustee an affidavit or certificate of a
firm regularly engaged in the business of soliciting proxies and/or tabulating shareholder votes verifying the vote of the Company’s
shareholders regarding such Business Combination.

 

(e) In the event that the
Company directs the Trustee to commence liquidation of the Trust Account pursuant to Section 1(i), the Company agrees that it will
not direct the Trustee to make any payments that are not specifically authorized by this Agreement.

 

(f) Unless otherwise agreed between the Company
and the Representative, ensure that the Instruction Letter (as defined in Exhibit A) delivered in connection with a Termination Letter
in the form of Exhibit A expressly provides that the Marketing Fee is paid directly to the account or accounts directed by the Representative
prior to any transfer of the funds held in the Trust Account to the Company or any other person.

 

4. Limitations of
Liability. The Trustee shall have no responsibility or liability to:

 

(a) Take any action with
respect to the Property, other than as directed in paragraphs 1 and 2 hereof and the Trustee shall have no liability to any party except
for liability arising out of its own gross negligence or willful misconduct;

 

(b) Institute any proceeding
for the collection of any principal and income arising from, or institute, appear in or defend any proceeding of any kind with respect
to, any of the Property unless and until it shall have received instructions from the Company given as provided herein to do so and the
Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(c) Change the investment
of any Property, other than in compliance with paragraph 1(c);

 

(d) Refund any depreciation
in principal of any Property;

 

(e) Assume that the authority
of any person designated by the Company to give instructions hereunder shall not be continuing unless provided otherwise in such designation,
or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(f) The other parties hereto
or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted, in good faith and in the
exercise of its own best judgment, except for its gross negligence or willful misconduct. The Trustee may rely conclusively and shall
be protected in acting upon any order, notice, demand, certificate, opinion or advice of counsel (including counsel chosen by the Trustee),
statement, instrument, report or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions,
but also as to the truth and acceptability of any information therein contained) which is believed by the Trustee, in good faith, to be
genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or any
waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument
delivered to the Trustee signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall
give its prior written consent thereto;

 

(g) Verify the correctness
of the information set forth in the Registration Statement or to confirm or assure that any Business Combination entered into by the Company
or any other action taken by it is as contemplated by the Registration Statement;

 

(h) File local, state and/or
federal tax returns or information returns with any taxing authority on behalf of the Trust Account and payee statements with the Company
documenting the taxes, if any, payable by the Company or the Trust Account, relating to the income earned on the Property;

 

(i) Prepare, execute and
file tax reports, income or other tax returns and pay any taxes on behalf of the Trust Account regardless of whether such tax is payable
by the Trust Account or the Company, including, but not limited to, franchise and income tax obligations (it being expressly understood
that the Property shall not be used to pay any such taxes and that such taxes, if any, shall be paid by the Company from funds not held
in the Trust Account or released to it under Section 2(a) hereof);

 

     

     

    

 

(j) Imply obligations,
perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this Agreement and that which
is expressly set forth herein; and

 

(k) Verify calculations,
qualify or otherwise approve the Company’s written requests for distributions pursuant to Section 1(i) or 2(a) above.

 

5. Trust Account Waiver.
The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies
in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it may have now or in the
future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation, under Section 3(b) or
Section 3(c) hereof, the Trustee shall pursue such Claim solely against the Company and its assets outside the Trust Account
and not against the Property or any monies in the Trust Account.

 

6. Termination.
This Agreement shall terminate as follows:

 

(a) If the Trustee gives
written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts to locate a
successor trustee during which time the Trustee shall act in accordance with this Agreement. At such time that the Company notifies the
Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to the terms of this Agreement, the
Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer of copies
of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided, however, that, in the
event that the Company does not locate a successor trustee within 90 days of receipt of the resignation notice from the Trustee, the Trustee
may submit an application to have the Property deposited with any court in the State of New York or with the United States District Court
for the Southern District of New York and upon such deposit, the Trustee shall be immune from any liability whatsoever; or

 

(b) At such time that the
Trustee has completed the liquidation of the Trust Account in accordance with the provisions of paragraph 1(i) hereof, and distributed
the Property in accordance with the provisions of the Termination Letter, this Agreement shall terminate except with respect to Paragraph
3(b).

 

7. Miscellaneous.

 

(a) The Company and the
Trustee each acknowledge that the Trustee will follow the security procedures set forth below with respect to funds transferred from the
Trust Account. The Company and the Trustee will each restrict access to confidential information relating to such security procedures
to authorized persons. Each party must notify the other party immediately if it has reason to believe unauthorized persons may have obtained
access to such information, or of any change in its authorized personnel. In executing funds transfers, the Trustee will rely upon all
information supplied to it by the Company, including account names, account numbers and all other identifying information relating to
a beneficiary, beneficiary’s bank or intermediary bank. Except for any liability arising out of the Trustee’s gross negligence
or willful misconduct, the Trustee shall not be liable for any loss, liability or expense resulting from any error in the information
or transmission of the funds.

 

(b) This Agreement shall
be governed by and construed and enforced in accordance with the laws of the State of New York, without giving effect to conflicts of
law principles that would result in the application of the substantive laws of another jurisdiction. This Agreement may be executed in
several original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute but one instrument.

 

(c) This Agreement contains
the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for Sections 1(i), 1(k),
1(l), 7(c) and 7(h) (which may only be amended with the approval of the holders of at least a majority of the outstanding shares
of Common Stock), this Agreement or any provision hereof may only be changed, amended or modified by a writing signed by each of the parties
hereto; provided, however, that no such change, amendment or modification may be made without the prior written consent of the Representative.
As to any claim, cross-claim or counterclaim in any way relating to this Agreement, each party waives the right to trial by jury. The
Trustee may require from Company counsel an opinion as to the propriety of any proposed amendment.

 

     

     

    

 

(d) The parties hereto
consent to the jurisdiction and venue of any state or federal court located in the City of New York, Borough of Manhattan, for purposes
of resolving any disputes hereunder.

 

(e) Any notice, consent
or request to be given in connection with any of the terms or provisions of this Agreement shall be in writing and shall be sent by express
mail or similar private courier service, by certified mail (return receipt requested), by hand delivery or by e-mail transmission:

 

if to the Trustee, to:

 

Continental Stock Transfer &
Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attention: Francis Wolf and Celeste Gonzalez

E-mail: fwolf@continentalstock.com; cgonzalez@continentalstock.com

 

if to the Company, to:

 

Financial Strategies Acquisition Corp.

2626 Cole Avenue, Suite 300

Dallas, Texas 75204

Attn: Jamie Khurshid, Chief Executive
Officer

E-mail: ceo@finspac.com

 

in either case with a copy
(which copy shall not constitute notice) to:

 

I-Bankers Securities, Inc.

1208 Shady Lane N

Keller, TX 76248

Attn.: Shelley Leonard, President

Email: shelley@ibsgroup.net

 

and:

 

Haynes and Boone, LLP

2323 Victory Avenue, Suite 700

Dallas, Texas 75219

Attn: Matthew L. Fry

E-mail: matt.fry@haynesboone.com

 

and:

 

Schiff Hardin LLP

901 K. St. NW

Suite 700

Washington, DC
20001

Attn:
Ralph De Martino and Cavas Pavri

Email: rdemartino@schiffhardin.com;
cpavri@schiffhardin.com

 

(f) The parties hereto
consent to the delivery of notices or other communications by electronic transmission at the e- mail address set forth below the respective
party’s name in Section 7(e) hereto. To the extent that any notice given by means of electronic transmission is returned
or undeliverable for any reason, the foregoing consent shall be deemed to have been revoked until a new or corrected e-mail address has
been provided, and such attempted electronic notice shall be ineffective and deemed to not have been given. Each party agrees to promptly
notify the other parties of any change in its e-mail address, and that failure to do so shall not affect the foregoing.

 

     

     

    

 

(g) Each of the Trustee
and the Company hereby represents that it has the full right and power and has been duly authorized to enter into this Agreement and to
perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall not make any claims or
proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust Account under any
circumstance.

 

(h) This Agreement is the
joint product of the Company and the Trustee 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.

 

(i) This Agreement may
be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute
one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission shall constitute
valid and sufficient delivery thereof.

 

(j) Each of the Company
and the Trustee hereby acknowledge that the Representative is a third party beneficiary of this Agreement.

 

(k) Except as specified
herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person or entity, without
the written consent of the other party.

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 	 
	 	By:	/s/ Francis Wolf 
	 	Name:	Francis Wolf
	 	Title:	Vice President
	 	 	 
	 	FINANCIAL STRATEGIES ACQUISITION CORP.
	 	 	 
	 	By:	/s/ Jamie Khurshid 
	 	Name:	Jamie Khurshid
	 	Title:	Chief Executive Officer

 

[Signature Page to Investment Management
Trust Agreement]

 

     

     

    

 

SCHEDULE A

 

	Fee Item	 	Time and method of payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of IPO by wire transfer	 	$	3,500	 
	Annual fee	 	First year ($10,000), initial closing of IPO by wire transfer; thereafter on the anniversary of the effective date of the IPO by wire transfer or check	 	$	10,000	 
	Transaction processing fee for disbursements to Company under Section 2	 	Deduction by Trustee from accumulated income following disbursement made to Company under Section 2	 	$	250	 
	Paying Agent services as required pursuant to Section 1(i)	 	Billed to Company upon delivery of service pursuant to Section 1(i)	 	 	Prevailing rates	 

 

     

     

    

 

EXHIBIT A

 

[Date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attention: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account – Termination Letter

 

Ladies and Gentlemen:

 

Pursuant to paragraph 1(i) of
the Investment Management Trust Agreement between Financial Strategies Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company (the “Trustee”), dated as of [●], 2021 (the “Trust Agreement”),
this is to advise you that the Company has entered into an agreement with [●] (“Target Business”) to consummate
a business combination with Target Business (“Business Combination”) on or about [date]. The Company shall notify you
at least 72 hours in advance of the actual date of the consummation of the Business Combination (“Consummation Date”).
Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments and to transfer the proceeds to the above-referenced
account to the effect that, on the Consummation Date, all of funds held in the Trust Account will be immediately available for transfer
to the account or accounts that the Company shall direct on the Consummation Date (including as directed to it by the Representative (with
respect to the Marketing Fee)). It is acknowledged and agreed that while the funds are on deposit in the trust operating account awaiting
distribution, the Company will not earn any interest or dividends.

 

On
the Consummation Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been
consummated, and (ii) the Company shall deliver to you (a) a certificate of the Chief Executive Officer, which verifies the
vote of the Company’s shareholders in connection with the Business Combination if a vote is held and (b) joint written instructions
from the Company and I-Bankers Securities, Inc. (whose consent not to be unreasonably withheld) with respect to the transfer
of the funds held in the Trust Account (“Instruction Letter”). You are hereby directed and authorized to transfer the
funds held in the Trust Account immediately upon your receipt of the counsel’s letter and the Instruction Letter, in accordance
with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation
Date without penalty, you will notify the Company of the same and the Company shall direct you as to whether such funds should remain
in the Trust Account and distributed after the Consummation Date to the Company. Upon the distribution of all the funds in the Trust Account
pursuant to the terms hereof, the Trust Agreement shall be terminated.

 

In the event that the Business
Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the
original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the
funds held in the Trust Account shall be reinvested as provided in the Trust Agreement on the business day immediately following the Consummation
Date as set forth in the notice.

 

	 	Very truly yours,
	 	 
	 	FINANCIAL STRATEGIES ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	Name:	Jamie Khurshid
	 	Title:	Chief Executive Officer 

 

     

     

    

 

	Acknowledged and Agreed:	 
	 	 
	I-Bankers Securities, Inc.	 
	 	 	 
	By:	 	 
	Name:	 	 
	Title:	 	 

 

     

     

    

 

EXHIBIT B

 

[Date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attention: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account – Termination Letter

 

Ladies and Gentlemen:

 

Pursuant to paragraph 1(i) of
the Investment Management Trust Agreement between Financial Strategies Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company, dated as of [●], 2021 (the “Trust Agreement”), this is to advise you
that the Company has been unable to effect a Business Combination with a Target Company within the time frame specified in the Company’s
Amended and Restated Certificate of Incorporation, as described in the Company’s prospectus relating to its IPO. Capitalized terms
used herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate all the Trust Account investments and to transfer the total proceeds to the
trust operating account to await distribution to the Public Shareholders. The Company has selected [●, 20__] as the date for the
purpose of determining when the Public Shareholders will be entitled to receive their share of the liquidation proceeds. It is acknowledged
that no interest will be earned by the Company on the liquidation proceeds while on deposit in the trust operating account. You agree
to be the Paying Agent of record and in your separate capacity as Paying Agent, to distribute said funds directly to the Public Shareholders
in accordance with the terms of the Trust Agreement and the Amended and Restated Certificate of Incorporation of the Company. Upon the
distribution of all the funds in the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

	 	Very truly yours,
	 	 
	 	FINANCIAL STRATEGIES ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	Name:	Jamie Khurshid
	 	Title:	Chief Executive Officer 

 

cc:
I-Bankers Securities, Inc.

 

     

     

    

 

EXHIBIT C

 

[Date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attention: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account – Interest Withdrawal (Taxes)

 

Ladies and Gentlemen:

 

Pursuant to paragraph 2(a) of
the Investment Management Trust Agreement between Financial Strategies Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company, dated as of [●], 2021 (the “Trust Agreement”), the Company hereby requests
that you deliver to the Company $[●] of the interest income earned on the Property as of the date hereof. Capitalized terms used
but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds
to pay for its tax obligations. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer
(via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 
	 	FINANCIAL STRATEGIES ACQUISITION CORP.
	 	 
	 	 
	 	Name:	Jamie Khurshid
	 	Title:	Chief Executive Officer 

 

cc:
I-Bankers Securities, Inc.

 

     

     

    

 

EXHIBIT D

 

[Date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attention: Francis Wolf and Celeste Gonzalez

 

	 	Re:	Trust Account – Extension Letter

 

Ladies and Gentlemen:

 

Pursuant to Section 1(j) of
the Investment Management Trust Agreement between Financial Strategies Acquisition Corp. (the “Company”) and Continental
Stock Transfer & Trust Company, dated as of [●], 2021 (“Trust Agreement”), this is to advise you that
the Company is extending the time available in order to consummate a Business Combination with the Target Businesses for an additional
three (3) months, from _______________ to _______________ (the “Extension”).

 

This Extension Letter shall
serve as the notice required with respect to the Extension prior to the Applicable Deadline. Capitalized words used herein and not otherwise
defined shall have the meanings ascribed to them in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to deposit $870,000 (or $1,050,000 if the underwriters’ over-allotment option was
exercised in full), which will be wired to you, into the Trust Account investments upon receipt.

 

This is the _____ of up to
two Extension Letters.

 

	 	Very truly yours,
	 	 
	 	FINANCIAL STRATEGIES ACQUISITION CORP.
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

cc:
I-Bankers Securities, Inc.

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