Document:

Exhibit 10.1

 

THIS PROMISSORY NOTE (“NOTE”)
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THIS NOTE HAS BEEN ACQUIRED
FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF REGISTRATION OF THE RESALE THEREOF UNDER
THE SECURITIES ACT OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE COMPANY THAT SUCH REGISTRATION
IS NOT REQUIRED.

 

PROMISSORY NOTE

 

	Principal Amount: Up to $500,000	
        

        Effective as of February 10, 2021

        New York, New York

 

Fortune Rise Acquisition
Corporation, a Delaware corporation and blank check company (the “Maker”), promises to pay to the order of Fortune
Rise Sponsor LLC or his registered assigns or successors in interest (the “Payee”), or order, the principal sum of
up to Five Hundred Thousand Dollars ($500,000) in lawful money of the United States of America, on the terms and conditions described
below. All payments on this Note shall be made by check or wire transfer of immediately available funds or as otherwise determined
by the Maker to such account as the Payee may from time to time designate by written notice in accordance with the provisions of
this Note.

 

1. Principal. The principal
balance of this Note shall be payable by the Maker on the earlier of: (i) August 10, 2021 or (ii) the date on which
Maker consummates an initial public offering of its securities. The principal balance may be prepaid at any time. Under no circumstances
shall any individual, including but not limited to any officer, director, employee or shareholder of the Maker, be obligated personally
for any obligations or liabilities of the Maker hereunder.

 

2. Interest. No interest shall accrue on
the unpaid principal balance of this Note.

 

3. Drawdown Requests.
Maker and Payee agree that Maker may request up to Five Hundred Thousand Dollars $500,000 for costs reasonably related to Maker’s
initial public offering of its securities. The principal of this Note may be drawn down from time to time prior to the earlier
of: (i) August 10, 2021 or (ii) the date on which Maker consummates an initial public offering of its securities,
upon written request from Maker to Payee (each, a “Drawdown Request”). Each Drawdown Request must state the amount
to be drawn down. Payee shall fund each Drawdown Request no later than five (5) business days after receipt of a Drawdown
Request; provided, however, that the maximum amount of drawdowns collectively under this Note is Five Hundred Thousand Dollars
$500,000. Once an amount is drawn down under this Note, it shall not be available for future Drawdown Requests even if prepaid.
No fees, payments or other amounts shall be due to Payee in connection with, or as a result of, any Drawdown Request by Maker.
Notwithstanding the foregoing, all payments shall be applied first to payment in full of any costs incurred in the collection of
any sum due under this Note, including (without limitation) reasonable attorneys’ fees, and then to the reduction of the
unpaid principal balance of this Note.

 

4. Application of Payments.
All payments shall be applied first to payment in full of any costs incurred in the collection of any sum due under this Note,
including (without limitation) reasonable attorney’s fees, then to the payment in full of any late charges and finally to
the reduction of the unpaid principal balance of this Note.

 

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5. Events of Default.
The following shall constitute an event of default (“Event of Default”):

 

(a) Failure to
Make Required Payments. Failure by Maker to pay the principal amount due pursuant to this Note within five (5) business days
of the date specified above.

 

(b) Voluntary
Bankruptcy, Etc. The commencement by Maker of a voluntary case under any applicable bankruptcy, insolvency, reorganization, rehabilitation
or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator, assignee, trustee,
custodian, sequestrator (or other similar official) of Maker or for any substantial part of its property, or the making by it of
any assignment for the benefit of creditors, or the failure of Maker generally to pay its debts as such debts become due, or the
taking of corporate action by Maker in furtherance of any of the foregoing.

 

(c) Involuntary
Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in respect of Maker in
an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver, liquidator, assignee,
custodian, trustee, sequestrator (or similar official) of Maker or for any substantial part of its property, or ordering the winding-up
or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a period of 60 consecutive
days.

 

6. Remedies.

 

(a) Upon the occurrence
of an Event of Default specified in Section 5(a) hereof, Payee may, by written notice to Maker, declare this Note to
be due immediately and payable, whereupon the unpaid principal amount of this Note, and all other amounts payable hereunder, shall
become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are hereby expressly
waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b) Upon the occurrence
of an Event of Default specified in Sections 5(b) and 5(c), the unpaid principal balance of this Note, and all other sums
payable with regard to this Note, shall automatically and immediately become due and payable, in all cases without any action on
the part of Payee.

 

7. Waivers. Maker and
all endorsers and guarantors of, and sureties for, this Note waive presentment for payment, demand, notice of dishonor, protest,
and notice of protest with regard to the Note, all errors, defects and imperfections in any proceedings instituted by Payee under
the terms of this Note, and all benefits that might accrue to Maker by virtue of any present or future laws exempting any property,
real or personal, or any part of the proceeds arising from any sale of any such property, from attachment, levy or sale under execution,
or providing for any stay of execution, exemption from civil process, or extension of time for payment; and Maker agrees that any
real estate that may be levied upon pursuant to a judgment obtained by virtue hereof or any writ of execution issued hereon, may
be sold upon any such writ in whole or in part in any order desired by Payee.

 

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8. Unconditional Liability.
Maker hereby waives all notices in connection with the delivery, acceptance, performance, default, or enforcement of the payment
of this Note, and agrees that its liability shall be unconditional, without regard to the liability of any other party, and shall
not be affected in any manner by any indulgence, extension of time, renewal, waiver or modification granted or consented to by
Payee, and consents to any and all extensions of time, renewals, waivers, or modifications that may be granted by Payee with respect
to the payment or other provisions of this Note, and agrees that additional makers, endorsers, guarantors, or sureties may become
parties hereto without notice to Maker or affecting Maker’s liability hereunder.

 

9. Notices. All notices,
statements or other documents which are required or contemplated by this Note shall be made in writing and delivered: (i) personally
or sent by first class registered or certified mail, 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 by such party or (iii) by electronic mail, to the electronic mail address most recently provided
to such party or such other electronic mail address as may be designated in writing by such party. Any notice or other communication
so transmitted shall be deemed to have been given on the day of delivery, if delivered personally, on the business day following
receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business day after delivery to an
overnight courier service or five (5) days after mailing if sent by mail.

 

10. Construction. THIS
NOTE SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF DELAWARE, WITHOUT REGARD TO CONFLICT OF LAW PROVISIONS THEREOF.

 

11. Severability. Any
provision contained in this Note which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

12. Trust Waiver. Notwithstanding
anything herein to the contrary, the Payee hereby waives any and all right, title, interest or claim of any kind (“Claim”)
in or to any distribution of or from the trust account to be established in which the proceeds of the initial public offering (the
 “IPO”) to be conducted by the Maker (including the deferred underwriters discounts and commissions) and the proceeds
of the sale of the warrants to be issued in a private placement to occur prior to the closing of the IPO are to be deposited, as
described in greater detail in the registration statement and prospectus to be filed with the Securities and Exchange Commission
in connection with the IPO, and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against
the trust account for any reason whatsoever.

 

13. Amendment; Waiver.
Any amendment hereto or waiver of any provision hereof may be made with, and only with, the written consent of the Maker and the
Payee.

 

14. Assignment. No
assignment or transfer of this Note or any rights or obligations hereunder may be made by any party hereto (by operation of law
or otherwise) without the prior written consent of the other party hereto and any attempted assignment without the required consent
shall be void.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF,
Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year
first above written.

 

	 	FORTUNE RISE ACQUISITION CORPORATION
	 	 
	 	 	 
	 	By:	/s/ Yuanmei Ma
	 	 	Name: Yuanmei Ma
	 	 	Title: Sole Director, CEO and Chairman

 

[Signature Page to Promissory Note]

 

    4Exhibit 10.5

 

FORTUNE RISE ACQUISITION CORPORATION

48 Bridge Street, Building A

Metuchen, NJ 08840

 

February 18, 2021

 

Fortune Rise Sponsor LLC

48 Bridge Street, Building A

Metuchen, NJ 08840

 

RE:     Securities
Purchase Agreement

 

Ladies and Gentlemen:

 

We are pleased to accept
the offer you (the “Subscriber”) have made to purchase 2,443,750 shares (the “Shares”) of
common stock, par value $0.0001 per share (the “Common Stock”) in ourselves, Fortune Rise Acquisition Corporation,
a Delaware corporation (the “Company”), among which, up to 318,750 shares of Common Stock are subject to forfeiture
pending the exercise of the over-allotment option granted to the underwriter in connection with the initial public offering of
the Company. The terms on which the Company is willing to sell the Shares to the Subscriber pursuant to Section 4(a)(2) of
the Securities Act of 1933, as amended (the “Securities Act”), and the Company and the Subscriber’s agreements
regarding such Shares, are as follows:

 

1.       Purchase
of Shares. The Company hereby sells and issues to the Subscriber, and the Subscriber hereby purchases from the Company the
Shares, for an aggregate purchase price of $25,000, on the terms and subject to the conditions set forth in this agreement (this
 “Agreement”). Concurrently with the Subscriber’s execution of this Agreement, the Company is delivering
to the Subscriber certificate(s) registered in the Subscriber’s name representing the Shares, receipt of which the Subscriber
hereby acknowledges.

 

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.       No
Government Recommendation or Approval. The Subscriber understands that no United States federal or state agency or similar
agency of any other country has passed upon or made any recommendation or endorsement of the offering of the Shares.

 

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 provisions of the organizational documents
of such Subscriber, if any, (ii) any agreement, indenture or instrument to which such Subscriber is a party, or (iii) any
law, statute, rule or regulation to which the Subscriber is subject, or any agreement, order, judgment or decree to which
such Subscriber is subject.

 

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2.1.3.       Organization
and Authority. Upon execution and delivery by the Subscriber, this Agreement is a legal, valid and binding agreement of such
Subscriber, enforceable against such 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).

 

2.1.4.       Experience,
Financial Capability and Suitability. Each 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 and therefore cannot
be sold unless subsequently registered under the Securities Act or an exemption from such registration is available. The Subscriber
has substantial experience in evaluating and investing in transactions of securities in companies similar to the Company so that
he or she 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 and to afford a complete loss of Subscriber’s
investment in the Shares.

 

2.1.5.       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 finances, operations, 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, Subscriber has relied solely on Subscriber’s
own knowledge and understanding of the Company and its business based upon Subscriber’s own due diligence investigation and
the information furnished pursuant to this paragraph. 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 Subscriber has not relied on any other
representations or information in making its investment decision, whether written or oral, relating to the Company, its operations
and/or its prospects.

 

2.1.6.       Private
Offering. The Subscriber acknowledges the sale contemplated hereby is being made in reliance on a private placement exemption
pursuant to Section 4(a)(2) of the Securities Act.

 

2.1.7.       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 and the
Subscriber has no present arrangement to sell the interest in the Shares to or through any person or entity. 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
under the Securities Act.

 

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2.1.8.       Restrictions
on Transfer; Shell Company; Affiliate Status. The Subscriber understands the Shares are being offered in a transaction not
involving a public offering within the meaning of the Securities Act. Subscriber understands the Shares will be “restricted
securities” within the meaning of Rule 144(a)(3) under the Securities Act and Subscriber understands that the certificates
representing the Shares will contain a legend 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) registration under the Securities Act, or (ii) an available exemption from registration. 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, Subscriber
may be required to deliver to the Company an opinion of counsel satisfactory to the Company. Absent registration or an 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. Such Subscriber (a) acknowledges that after the issuance of the Shares,
such Subscriber may be deemed an “affiliate” of the Company under the Securities Act, (b) acknowledges understanding
the additional restrictions under the Securities Act applicable to affiliate of the Company, and (c) acknowledges that it
had a full and fair opportunity and the means to obtain United States securities counsel and discuss such restrictions prior to
entering into this Agreement.

 

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

 

2.1.10.       Bad
Actor. Such Subscriber is not subject to any of the “Bad Actor” disqualifications described in Rule 506(d)(1)(i) to
(viii) under the Securities Act (a “Disqualification Event”), except for a Disqualification Event covered
by Rule 506(d)(2) or (d)(3) under the Securities Act. The Subscriber has exercised reasonable care to determine
whether he, she or it is subject to a Disqualification Event. The purchase of the Shares will not subject the Company to any Disqualification
Event. There are no matters that would have triggered disqualification under Rule 506(d)(1) under the Securities Act
but occurred before September 23, 2013.

 

2.1.11.       No
Legal Advice from Company. The Subscriber acknowledges that it has had the opportunity to review this Agreement and the transactions
contemplated by this Agreement and the other agreements entered into between the parties hereto with its own legal counsel and
investment and tax advisors. Except for any statements or representations of the Company made in this Agreement and the other agreements
entered into between the parties hereto, the Subscriber is relying solely on such counsel and advisors and not on any statements
or representations of the Company or any of its representatives or agents for legal, tax or investment advice with respect to this
investment, the transactions contemplated by this Agreement or the securities laws of any jurisdiction.

 

2.1.13.       Reliance
on Representations and Warranties. The Subscriber understands the Shares are being offered and sold to it in reliance on exemptions
from the registration requirements under the Securities Act, and analogous provisions in the laws and regulations of various states,
and that the Company is relying upon the truth and accuracy of the representations, warranties, agreements, acknowledgments and
understandings of the Subscriber set forth in this Agreement in order to determine the applicability of such provisions.

 

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2.1.14.       No
General Solicitation or General Advertising; No Directed Selling Efforts. The Subscriber is not aware of any form of general
solicitation or general advertising (within the meaning of Regulation S) in respect of the Shares, including (1) any advertisement,
article, notice or other communication published in any newspaper, magazine, or similar media or broadcast over television, radio,
or the internet; and (2) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising.

 

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 Corporate Power. The Company is a corporation duly incorporated, validly existing and in good standing under the laws of
State of Delaware and is qualified to do business in every jurisdiction in which the failure to so qualify would reasonably be
expected to have a material adverse effect on the financial condition, operating results or assets of the Company. The Company
possesses all requisite corporate power and authority necessary to carry out the transactions contemplated by this Agreement.

 

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 (1) the certificate of incorporation of the
Company, (2) any agreement, indenture or instrument to which the Company is a party, or (3) any law, statute, rule or
regulation to which the Company is subject, or any agreement, order, judgment or decree to which the Company is subject. Other
than any registration statement which may be filed pursuant thereto, the Company is not required under federal, state or local
law, rule or regulation to obtain any consent, authorization or order of, or make any filing or registration with, any court
or governmental agency or self-regulatory entity in order for it to perform any of its obligations under this Agreement or issue
the Shares in accordance with the terms hereof.

 

2.2.3.       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 (i) transfer
restrictions hereunder and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state
securities laws, and (iii) liens, claims or encumbrances imposed due to the action of the Subscriber.

 

2.2.4.       Enforcement.
This Agreement constitutes, and upon the execution and delivery thereof, valid and binding obligations 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, moratorium, reorganization, or similar laws relating to, or affecting generally the enforcement of, creditors’
rights and remedies or by equitable principles of general application and except as enforcement of rights to indemnity and contribution
may be limited by federal and state securities laws or principles of public policy.

 

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2.2.5.       No
Registration. Assuming the accuracy of the representations and warranties of the Subscriber contained in this Agreement, the
issuance and sale of the Shares pursuant to this Agreement is exempt from registration requirements of the Securities Act, and
neither the Company nor, to the knowledge of the Company, any authorized representative acting on its behalf, has taken or will
take any action hereafter that would cause the loss of such exemption.

 

2.2.6.       No
Integration. Neither the Company nor any of its affiliates have, directly or indirectly through any agent, sold, offered for
sale, solicited offers to buy or otherwise negotiated in respect of, any “security” (as defined in the Securities Act)
that is or will be integrated with the sale of the Shares in a manner that would require registration under the Securities Act.

 

2.2.7.       No
General Solicitation or General Advertising. Neither the Company nor any person acting on behalf of the Company has offered
or sold any of the Shares by any form of general solicitation or general advertising (within the meaning of Regulation S promulgated
under the Securities Act) including (1) any advertisement, article, notice or other communication published in any newspaper,
magazine, or similar media or broadcast over television, radio, or the internet; and (2) any seminar or meeting whose attendees
have been invited by any general solicitation or general advertising; nor has it seen or been aware of any activity that, to its
knowledge, constitutes general solicitation or general advertising.

 

3.       Waiver
of Liquidation Distributions; Redemption Rights. In connection with the Shares purchased pursuant to this Agreement and, subject
to the below, any other Company securities purchased on a private placement basis, 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 (as such term is defined
in the Investment Management Trust Agreement to be entered by and between the Company and the trustee thereunder), in the event
of a liquidation of the Company upon the Company’s failure to timely complete a business combination.

 

4.       Restrictions
on Transfer.

 

4.1.       Securities
Law Restrictions. The Subscriber agrees not to sell, transfer, pledge, hypothecate or otherwise dispose of all or any part
of the Shares unless, prior thereto (i) 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 (ii) that an exemption
from registration is available under the Securities Act and the rules promulgated by the Commission thereunder and is in compliance
with all applicable state securities laws.

 

4.2.       Restrictive
Legends. Unless counsel otherwise advises, all certificates representing the Shares shall have endorsed thereon legends substantially
as follows:

 

“THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY STATE SECURITIES
LAWS AND NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED
OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN EXEMPTION FROM REGISTRATION
THEREUNDER, IN EACH CASE IN ACCORDANCE WITH ALL APPLICABLE SECURITIES LAWS OF THE STATES OR OTHER JURISDICTIONS, AND IN THE
CASE OF A TRANSACTION EXEMPT FROM REGISTRATION, SUCH SECURITIES MAY ONLY BE TRANSFERRED IF THE COMPANY AND TRANSFER AGENT
FOR SUCH SECURITIES HAS RECEIVED DOCUMENTATION SATISFACTORY TO IT THAT SUCH TRANSACTION DOES NOT REQUIRE REGISTRATION UNDER THE
SECURITIES ACT.”

 

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4.3.       Additional
Shares or Substituted Securities. In the event of the declaration of a stock dividend, the declaration of an extraordinary
dividend payable in a form other than stock, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or
a similar transaction affecting the Company’s outstanding capital stock 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 4 or into which such Shares thereby become convertible shall immediately be subject to this Section 4.
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 4.

 

5.       Other
Agreements.

 

5.1.       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.

 

5.2.       No
Obligation as to Employment. The Company is not by reason of this Agreement obligated to employ, or continue to employ, the
Subscriber in any capacity.

 

5.3.       Notices.
All notices, requests, consents and other communications hereunder shall be in writing, shall be addressed to the receiving party’s
address set forth on the first page of this Agreement or to such other address as a party may designate by notice hereunder,
and shall be either (1) delivered by hand, (2) sent by overnight courier, (3) sent via facsimile, or (4) sent
by certified mail, return receipt requested, postage prepaid. All notices, requests, consents and other communications hereunder
shall be deemed to have been given either (i) if by hand, at the time of the delivery thereof to the receiving party at the
address of such party set forth above, (ii) if sent by overnight courier, on the next business day following the day such
notice is delivered to the courier service, (iii) if sent via facsimile, when receipt is acknowledged, or (iv) if sent
by certified mail, on the (5th) business day following the day such mailing is made.

 

5.4.       Entire
Agreement. This Agreement 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.

 

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

 

5.6.       Waivers
and Consents. The terms and provisions of this Agreement may be waived, or consent for the departure therefrom granted, only
by 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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5.7.       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.

 

5.8.       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.

 

5.9.       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 New York for agreements made and to be wholly performed within such country.

 

5.10.     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.

 

5.11.      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.

 

5.12.       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.

 

5.13.       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.

 

    7

     

    

 

5.14.       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.

 

5.15.       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 by facsimile
transmission or by e-mail delivery of a “.pdf” format data file, 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 facsimile or “.pdf”
signature page were an original thereof.

 

6.       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.

 

7.       Disclosure.
The Subscriber agrees not to disclose information about this Agreement and the transactions contemplated hereby until and to the
extent the Company publicly discloses such information.

 

8.     Fees.
Each party hereto shall be responsible for its own internal costs and legal, accounting and other professional fees incurred in
connection with the negotiation, preparation and execution of this Agreement.

 

[Signature Page Follows]

 

    8

     

    

 

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

 

Accepted and agreed this

 

February 18, 2021

 

	 	Very truly yours,
	 	 
	 	FORTUNE RISE ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/ Yuanmei Ma
	 	Name: 	Yuanmei Ma
	 	Title:	Sole Director, CEO, and Chairman 

 

[Signature Page to Shares Purchase
Agreement-the Company]

 

    9

     

    

 

Accepted and agreed to this

 

February 18, 2021

 

FORTUNE RISE SPONSOR LLC

 

	By:	/s/ Yuanmei Ma	 
	Name: 	Yuanmei Ma	 
	Title:	Sole Member	 

 

[Signature Page to Shares Purchase
Agreement-Sponsor]

 

    10

     

    

 

FORTUNE RISE ACQUISITION CORPORATION

48 Bridge Street, Building A

Metuchen, NJ 08840

 

March 1, 2021

 

Fortune Rise Sponsor LLC

48 Bridge Street, Building A

Metuchen, NJ 08840

 

RE:     Securities
Purchase Agreement

 

Ladies and Gentlemen:

 

This letter shall act
as an amendment (the “Amendment”) to a certain purchase agreement (the “Agreement”)
between Fortune Rise Acquisition Corporation (the “Company”) and Fortune Rise Sponsor LLC (the “Subscriber”)
dated February 18, 2021.

 

The first paragraph
of the Agreement shall be amended in its entirety and substituted by the following:

 

“We are pleased
to accept the offer you (the “Subscriber”) have made to purchase 2,443,750 shares (the “Shares”)
of Class B common stock, par value $0.0001 per share (the “Class B Common Stock”) in ourselves, Fortune
Rise Acquisition Corporation, a Delaware corporation (the “Company”), among which, up to 318,750 shares of Class B
Common Stock are subject to forfeiture pending the exercise of the over-allotment option granted to the underwriter in connection
with the initial public offering of the Company. The terms on which the Company is willing to sell the Shares to the Subscriber
pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and
the Company and the Subscriber’s agreements regarding such Shares, are as follows:”

 

Except as amended hereby,
the terms of the Agreement shall remain in full force and effect.

 

This Amendment shall
become effective upon and following the filing of the First Amended and Restated Certificate of Incorporation of the Company.

 

[Signature Page Follows]

 

    1

     

    

 

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

 

Accepted and agreed this

 

March 1, 2021

 

	 	Very truly yours,
	 	 
	 	FORTUNE RISE ACQUISITION CORPORATION
	 	 	 
	 	By:	/s/ Yuanmei Ma
	 	Name: 	Yuanmei Ma
	 	Title:	Sole Director, CEO, and Chairman 

 

[Signature Page to Amendment Insider
Shares Purchase Agreement-the Company]

 

    2

     

    

 

Accepted and agreed to this

 

March 1, 2021

 

FORTUNE RISE SPONSOR LLC

 

	By:	/s/ Koon Keung Chan	 
	Name: 	Koon Keung Chan	 
	Title:	Manager	 

 

[Signature Page to Amendment to
Insider Shares Purchase Agreement-Sponsor]

 

    3

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