Document:

Exhibit 4.2

 

Execution Version

 

RIGHTS AGREEMENT

 

This Rights Agreement (this
“Agreement”) is made as of June 15, 2022 between Feutune Light Acquisition Corporation, a Delaware corporation
(the “Company”), and Continental Stock Transfer & Trust Company, a New York company, as right  agent
(the “Right Agent”).

 

WHEREAS, the Company has received
a firm commitment from US Tiger Securities, Inc and EF Hutton, division of Benchmark Investments, LLC, as the representatives of the several
underwriters, (the “Representatives”), to purchase up to an aggregate of 97,750,000 units (including up to 1,275,000
units if the over-allotment option is exercised in full or in part), each unit (“Unit”) comprised of one share
of Class A common stock of the Company, par value $0.0001 per share (the “Class A Common Stock”), one redeemable
warrant to acquire one share of Class A Common Stock (the “Public Warrants”), and one right to receive one-tenth
(1/10) of one share of Class A Common Stock (the “Public Rights”) upon the happening of the triggering event
described herein, and in connection therewith, will issue and deliver up to an aggregate of 97,750,000 Public Rights upon consummation
of such public offering, 1,275,000 of which are attributable to the over-allotment option (“Public Offering”);

 

WHEREAS, the Company has filed
with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File No. 333-264221
(“Registration Statement”), for the registration, under the Securities Act of 1933, as amended (“Act”)
of, among other securities, the Public Rights and the Class A Common Stock issuable to the holders of the Public Rights;

 

WHEREAS, the Company desires
the Right Agent to act on behalf of the Company, and the Right 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 Right 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 Right 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 Right Agent. The Company hereby appoints the Right Agent to act as agent for the Company for the Rights, and the Right 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 or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a facsimile of the Company’s seal. 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 Right Agent pursuant to this Agreement, a Right shall be invalid and of no effect and may not be exchanged for Class A Common Stock. 

 

	 	2.3.	Registration.

 

	 	2.3.1.	Right Register. The Right Agent shall maintain books (“Right Register”) for the registration of original issuance and the registration of transfer of the Rights. Upon the initial issuance of the Rights, the Right 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 Right Agent by the Company.

 

	 	2.3.2.	Registered Holder. Prior to due presentment for registration of transfer of any Right, the Company and the Right Agent may deem and treat the person in whose name such Right shall be registered upon the Right Register (“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 Right Agent), for the purpose of the exchange thereof, and for all other purposes, and neither the Company nor the Right Agent shall be affected by any notice to the contrary.

  

	 	2.4.	Detachability of Rights. The securities comprising the Units, including the Rights, will not be separately transferable until the fifty-second (52nd) day after the date hereof unless the Representatives inform the Company of its decision to allow earlier separate trading, but in no event will separate trading of the securities comprising the Units begin until (i) the Company files a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment option is exercised on the date hereof, and (ii) the Company issues a press release and files a Current Report on Form 8-K announcing when such separate trading shall begin.

 

	3.	Terms and Exchange of Rights.

 

	 	3.1.	Rights. Each Right shall entitle the holder thereof to receive one-tenth (1/10) of one share of Class A Common Stock upon the happening of the Exchange Event (described below). Subject to Section 3.3.1 below with respect to the registered holders of Rights, in the event that the Company is not the surviving entity immediately following the Exchange Event, holders of Rights shall be entitled to automatically receive the kind and amount of securities or properties of the surviving entity as the holders of each one-tenth (1/10) of one share of Class A Common Stock is entitled to receive in the Exchange Event. No additional consideration shall be paid by a holder of Rights in order to receive his, her or its Class A Common Stock upon the Exchange Event as the purchase price for such shares of Class A 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  share of Class A Common Stock.

 

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	 	3.2.	Exchange Event. The Exchange Event shall be the Company’s consummation of an initial Business Combination (as defined in the Company’s Amended and Restated Certificate of Incorporation).

 

	 	3.3.	Exchange of Rights.

 

	 	3.3.1.	Issuance of Certificates. As soon as practicable upon the occurrence of the Exchange Event, the Company shall direct registered holders of the Rights to return their Rights Certificates to the Right Agent subject to dissenter rights as provided in the applicable law if any in the event that the Company is not the surviving entity in a Business Combination. Upon receipt of a valid Rights Certificate, the Company shall issue to the registered holder of such Right(s) a certificate or certificates for the number of full share of Class A 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. 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. At the time of the Exchange Event, the Company will instruct the Right Agent to round down to the nearest whole share of Class A Common Stock or otherwise inform it how fractional shares will be addressed in accordance with Delaware General Corporate Law as the same may be amended from time to time. 

 

	 	3.3.2.	Valid Issuance. All shares of Class A 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 for shares of Class A 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.

 

	 	3.3.4.	Company Not Surviving Following Exchange Event. If the Exchange Event results in the Company not continuing as a publicly held reporting entity, the definitive agreement will provide for the holders of Rights to receive the same per share consideration as the holders of the Class A Common Stock will receive in with the Exchange Event, for the number of shares such holder is entitled to pursuant to Section 3.3.1 above.

 

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	 	3.4.	Duration of Rights. If the Exchange Event does not occur within 9 months from the closing of the Public Offering (or up to 18 months from the closing of the Public Offering if the Company extends the period of time to consummate a Business Combination, as described in the Registration Statement), and such Business Combination has not yet been consummated within the applicable time period, the Rights shall expire and shall be worthless.

  

	4.	Transfer and Exchange of Rights.

 

	 	4.1.	Registration of Transfer. The Right 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 Right Agent. The Rights so cancelled shall be delivered by the Right Agent to the Company from time to time upon request.

 

	 	4.2.	Procedure for Surrender of Rights. Rights may be surrendered to the Right Agent, together with a written request for exchange or transfer, and thereupon the Right 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, the Right Agent shall not cancel such Right and issue new Rights in exchange therefor until the Right Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Rights must also bear a restrictive legend.

 

	 	4.3.	Fractional Rights. The Right 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 Class A 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 stock split, stock dividend, reorganization, recapitalization, reclassification, combination, exchange of stock or other like change with respect to shares of Class A Common Stock occurring on or after the date hereof and prior to the Exchange Event.

 

	 	4.6.	Right Execution and Countersignature. The Right 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 Right Agent, will supply the Right Agent with Rights duly executed on behalf of the Company for such purpose.

 

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

 

	 	5.1.	No Rights as Stockholder. Until exchange of a Right for shares of Class A 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 Right 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 Class A Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued  shares of Class A Common Stock that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

	6.	Concerning the Right 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 Right Agent in respect of the issuance or delivery of  shares of Class A 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.

 

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

 

	 	6.2.1.	Appointment of Successor Right Agent. The Right 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 Right Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Right Agent in place of the Right 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 Right 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 Right Agent at the Company’s cost. Any successor Right 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 Right Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Right Agent with like effect as if originally named as Right Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Right Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Right Agent all the authority, powers, and rights of such predecessor Right Agent hereunder; and upon request of any successor Right 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 Right Agent all such authority, powers, rights, immunities, duties, and obligations.

 

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

 

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

 

	 	6.3.	Fees and Expenses of Right Agent.

 

	 	6.3.1.	Remuneration. The Company agrees to pay the Right Agent reasonable remuneration for its services as such Right Agent hereunder and will reimburse the Right Agent upon demand for all expenditures that the Right 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 Right Agent for the carrying out or performing of the provisions of this Agreement.

 

	 	6.4.	Liability of Right Agent.

 

	 	6.4.1.	Reliance on Company Statement. Whenever in the performance of its duties under this Agreement, the Right 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 Right Agent. The Right Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

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

 

	 	6.4.3.	Exclusions. The Right 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 Class A Common Stock to be issued pursuant to this Agreement or any Right or as to whether any shares of Class A Common Stock will, when issued, be valid and fully paid and nonassessable.

 

	 	6.5.	Acceptance of Agency. The Right 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 Right 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 Right 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 Right 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 Right 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 Right Agent), as follows:

 

Feutune Light Acquisition Corporation

48 Bridge Street, Building A

Metuchen, New Jersey 08840

Attn: Yuanmei Ma

Email: sunnymei2005@gmail.com

 

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and

 

Robinson & Cole LLP

Chrysler East Building

666 Third Avenue, 20th floor

New York, NY 10017

Attn: Arila E. Zhou, Esq.

Email: azhou@rc.com

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Compliance Department

 

and

 

US Tiger Securities, Inc.

437 Madison Avenue, 27th Floor

New York, NY 10022

Attn: Lei Huang

Email: lei.huang@ustigersecurities.com 

 

and

 

EF Hutton, division of Benchmark
Investments, LLC

590 Madison Avenue, 39th Floor

New York, NY 10022Attn: Joseph T. Rallo,
Chief Executive Officer

Email: jrallo@efhuttongroup.com

 

and

 

Winston & Strawn LLP

800 Capitol Street

Suite 2400

Houston, Texas 77002

Attn: Michael Blankenship

Email: mblankenship@winston.com

 

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	 	7.3.	Applicable Law. 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 conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The Company hereby agrees that any action, proceeding or claim against it 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. The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 7.2 hereof. Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

 

	 	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, for the purposes of Sections 3.1, 3.2, 7.4 and 7.8 hereof, the Representatives, any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. the Representatives shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 3.1, 3.2, 7.4 and 7.8 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 the Representatives with respect to Sections 3.1, 3.2, 7.4 and 7.8 hereof) and their successors and assigns and of the registered holders of the Rights.

 

	 	7.5.	Examination of this Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Right Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Right. The Right 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. The provisions of this Section 7.8 may not be modified, amended or deleted without the prior written consent of the Representatives.

 

	 	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]

 

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

 

	 	FEUTUNE LIGHT ACQUISITION CORPORATION
	 	 
	 	By:	/s/ Yuanmei Ma 
	 	 	Name: 	Yuanmei Ma 
	 	 	Title: 	Chief Financial Officer
	 	 	 
	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, AS RIGHT AGENT
	 	 	 
	 	By:	/s/ Stacy Aqui
	 	 	Name:	Stacy Aqui
	 	 	Title:	Vice President

 

[Signature Page to Rights Agreement- Feutune
Light Acquisition Corporation]

 

     

     

    

 

EXHIBIT A

Form of Right

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

	NUMBER 	SPECIMEN RIGHTS CERTIFICATE

 

FEUTUNE LIGHT ACQUISITION CORPORATION

INCORPORATED UNDER THE LAWS OF DELAWARE

RIGHT

 

SEE REVERSE FOR

CERTAIN DEFINITIONS

 

CUSIP 31561T 128

 

THIS CERTIFIES THAT, for value received is the
registered holder of a right or rights (the “Right”) to automatically receive one-tenth (1/10) of one
share of Class A common stock, $0.0001 par value (“Class A Common Stock”), of Feutune Light Acquisition
Corporation (the “Company”) for each Right evidenced by this Rights Certificate on the Company’s
completion of an initial business combination (as defined in the prospectus relating to the Company’s initial public offering
(“Prospectus”)) upon surrender of this Right Certificate pursuant to the Rights Agreement between the
Company and Continental Stock Transfer & Trust Company, as Rights Agent. In no event will the Company be required to net cash
settle any Right.

 

Upon liquidation of the Company in the event an
initial business combination is not consummated during the required period as identified in the Company’s Amended and Restated Memorandum
and Certificate of Incorporation , the Right shall expire and be worthless. The holder of a Right shall have no right or interest of any
kind in the Company’s trust account (as defined in the Prospectus).

 

Upon due presentment for registration of transfer
of the Right Certificate at the office or agency of the Rights Agent, a new Right Certificate or Right Certificates of like tenor and
evidencing in the aggregate a like number of Rights shall be issued to the transferee in exchange for this Right Certificate, without
charge except for any applicable tax or other governmental charge. The Company shall not issue fractional share upon exchange of Rights.
The Company reserves the right to deal with any fractional entitlement at the relevant time in any manner (as provided in the Rights Agreement).

 

The Company and the Rights Agent may deem and
treat the registered holder as the absolute owner of this Right Certificate (notwithstanding any notation of ownership or other writing
hereon made by anyone), for the purpose of any conversion hereof, of any distribution to the registered holder, and for all other purposes,
and neither the Company nor the Right Agent shall be affected by any notice to the contrary.

 

This Right does not entitle the registered holder
to any of the rights of a stockholder of the Company.

 

Dated:

 

	 	 	 
	CHAIRMAN	 	CHIEF FINANCIAL OFFICER

 

	 	 	 
	Continental Stock Transfer & Trust Company, as Rights Agent	 	 

 

     

     

    

 

The following abbreviations,
when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations:

 

	TEN COM – as tenants in common	UNIF GIFT MIN ACT - __________ Custodian __________
	TEN ENT – as tenants by the entireties	(Cust) (Minor)
	JT TEN – as joint tenants with right of survivorship	under Uniform Gifts to Minors
	and not as tenants in common	Act __________
	 	(State)

 

Additional Abbreviations may also be used though
not in the above list.

	 

Feutune Light Acquisition Corporation 

 

The Company will furnish without
charge to each stockholder who so requests the powers, designations, preferences and relative, participating, optional or other special
rights of each class of stock or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences
and/or rights. This certificate and the rights represented thereby are issued and shall be held subject to all the provisions of the memorandum
and articles of association and all amendments thereto and resolutions of the Board of Directors providing for the issue of shares of
Class A Common Stock (copies of which may be obtained from the secretary of the Company), to all of which the holder of this certificate
by acceptance hereof assents.

 

For value received, ___________________________
hereby sell, assign and transfer unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER

 

IDENTIFYING NUMBER OF ASSIGNEE

 

	 	 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING
ZIP CODE, OF ASSIGNEE)

	 	 
	 	 
	 	 

 

	 	 
	Rights represented by the within Certificate, and do hereby irrevocably constitute and appoint	 
	 	 
	Attorney to transfer said rights on the books of the within named Company will full power of substitution in the premises.	 

 

Dated _____________________

 

	 	Notice:	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

Signature(s) Guaranteed:

	 	 
	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 

 

The holder of this certificate shall have no
right or interest of any kind in or to the funds held in the Company’s trust account (as defined in the Prospectus).Exhibit 10.1

 

Execution Version

 

June 15, 2022

 

Feutune Light Acquisition Corporation

48 Bridge Street, Building A

Metuchen, New Jersey 08840

 

Re: Initial Public Offering

 

Ladies and Gentlemen:

  

This letter (this “Letter
Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
to be entered into by and among Feutune Light Acquisition Corporation, a Delaware corporation (the “Company”), US Tiger
Securities, Inc. (“US Tiger”) and EF Hutton, division of Benchmark Investments, LLC, as representatives (the “Representatives”)
of the several underwriters (the “Underwriters”), relating to an underwritten initial public offering (the “Public
Offering”), of up to 8,500,000 of the Company’s units (including up to 1,275,000 units that may be purchased to cover
over-allotments, if any) (the “Units”), each comprised of one share of the Company’s Class A common stock, par
value $0.0001 per share (the “Class A Common Stock”), one redeemable warrant and one right. Each Warrant (each, a “Warrant”)
entitles the holder thereof to purchase one share of Class A Common Stock at a price of $11.50 per share, subject to adjustment. Each
right (each, a “Right”) entitles the holder thereof to receive one-tenth (1/10) of one share of Class A Common Stock
upon the consummation of an initial Business Combination. The Units shall be sold in the Public Offering pursuant to a registration statement
on Form S-1 and prospectus (the “Prospectus”) filed by the Company with the Securities and Exchange Commission (the
“Commission”) and the Units have been approved to be listed on the Nasdaq Global Market. Certain capitalized terms
used herein are defined in paragraph 12 hereof.

 

In order to induce the Company
and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Feutune Light Sponsor LLC (the “Sponsor”),
US Tiger and each of the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management
team or a personnel of the Company or a designee of them (each, an “Insider” and collectively, the “Insiders”)
(the Sponsor, US Tiger, the Insiders and their affiliates or designees, together the “Initial Stockholders”), hereby
agrees with the Company as follows:

 

1. Each of the Initial Stockholders
agrees that if the Company seeks stockholder approval of a proposed Business Combination, then in connection with such proposed Business
Combination, it, he or she shall (i) vote any shares of Capital Stock owned by it, him or her in favor of any proposed Business Combination,
(B) not to propose, or vote in favor of, prior to and unrelated to an initial Business Combination, an amendment to the amended and restated
certificate of incorporation of the Company that would affect the substance or timing of the Company’s redemption obligation to
redeem all Public Shares (defined below) if the Company cannot complete an initial Business Combination within the Completion Period (defined
below), unless the Company provides public stockholders an opportunity to redeem their Public Shares in conjunction with any such amendment,
(C) not to redeem any Founder Shares, Private Shares or Representative Shares held by it, him or her into the right to receive cash from
the Trust Account in connection with a stockholder vote to approve our proposed initial Business Combination or sell any shares to the
Company in any tender offer in connection with the proposed initial Business Combination, and (D) that the Founder Shares, Private Shares
or Representative Shares shall not participate in any liquidating distribution upon winding up if a Business Combination is not consummated
within the Completion Period. For purposes of this agreement, the “Completion Period” refers to the period following the completion
of this offering at the end of which, if we have not completed our initial business combination, we will redeem 100% of the public shares
at a per share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on
the funds held in the trust account and not previously released to us to pay our taxes, if any (less up to $50,000 of interest to pay
dissolution expenses), divided by the number of then outstanding public shares, subject to applicable law and certain conditions and as
further described herein. Pursuant to the amended and restated certificate of incorporation of the Company, the Completion Period ends
9 months from the closing of the Public Offering, which may be extended up to three times by an additional three-month period each time
for a total of 18 months from the closing of the Public Offering.

 

     

     

    

 

2. The Sponsor and each Insider
agree that in the event that the Company fails to consummate a Business Combination within the Completion Period or such later period
approved by the Company’s stockholders in accordance with the Company’s amended and restated certificate of incorporation,
the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of
winding up, (ii) as promptly as reasonably possible but not more than 10 business days thereafter, subject to lawfully available funds
therefor, redeem 100% of shares of Class A Common Stock sold as part of the Units in the Public Offering (the “Public Shares”),
at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on
the funds held in the Trust Account and not previously released to the Company to pay its taxes (less up to $50,000 of interest to pay
dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish all Public
Stockholders’ rights as stockholders of the Company (including the right to receive further liquidation distributions, if any),
subject to applicable law, and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s
remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s
obligations under Delaware law to provide for claims of creditors and other requirements of applicable law.

 

3. Each of the Initial Stockholders
acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account or any
other asset of the Company as a result of any liquidation of the Company with respect to the Founder Shares, Private Shares or Representative
Shares held by it, him or her. The Sponsor and each Insider hereby further waive, with respect to any shares of Class A Common Stock held
by it, him or her, if any, any redemption rights it, he or she may have in connection with the consummation of a Business Combination,
including, without limitation, any such rights available in the context of a stockholder vote to approve such Business Combination or
in the context of a tender offer made by the Company to purchase shares of Common Stock (although the Initial Stockholders shall be entitled
to redemption and liquidation rights with respect to any Public Shares it or they hold if the Company fails to consummate a Business Combination
within the Completion Period).

  

4. In the event of the liquidation
of the Trust Account, the Sponsor (which for purposes of clarification shall not extend to any other shareholders, members or managers
of the Sponsor) agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever
(including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against
any litigation, whether pending or threatened, or any claim whatsoever) to which the Company may become subject as a result of any claim
by (i) any third party (other than the Company’s independent accountants) for services rendered or products sold to the Company
or (ii) a prospective target business with which the Company has entered into a letter of intent, confidentiality or other similar agreement
for a Business Combination agreement (a “Target”); provided, however, that such indemnification of the Company by the
Sponsor shall apply only to the extent necessary to ensure that such claims by a third party for services rendered (other than the Company’s
independent public accountants) or products sold to the Company or a Target do not reduce the amount of funds in the Trust Account to
below (i) $10.15 per share of the Public Shares or (ii) such lesser amount per share of the Public Shares held in the Trust Account due
to reductions in the value of the trust assets as of the date of the liquidation of the Trust Account, in each case, net of the amount
of interest earned on the property in the Trust Account which may be withdrawn to pay taxes, except as to any claims by a third party
(including a Target) who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under
the Company’s indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act. In the
event that any such executed waiver is deemed to be unenforceable against such third party, the Sponsor shall not be responsible to the
extent of any liability for such third party claims. The Sponsor shall have the right to defend against any such claim with counsel of
its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Sponsor,
the Sponsor notifies the Company in writing that it shall undertake such defense.

 

5. To the extent that the
Underwriters do not exercise their over-allotment option to purchase up to an additional 1,275,000 Units within 45 days from the date
of the Prospectus (and as further described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares
in the aggregate equal to the product of 318,750 multiplied by a fraction, (i) the numerator of which is 1,275,000 minus the number of
Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 1,275,000.
The forfeiture will be adjusted to the extent that the over-allotment option is not exercised in full by the Underwriters so that the
Sponsor and the Insiders will own an aggregate of 20.0% of the Company’s issued and outstanding shares of Capital Stock after the
Public Offering (assuming that our Sponsor and the Insiders do not purchase any Public Shares or Units in the Public Offering and excluding
the issuance of the Representative Shares).

 

    2 

     

    

 

6. In the event that the Company
fails to consummate a Business Combination within 9 months of the closing of the Public Offering, the Sponsor or its affiliates may request
Company to extend the period of time for the Company to consummation a Business Combination up to three times by an additional three-month
period each time for a total of up to 18 months of the closing of the Public Offering. If the Sponsor requests an extension, the Sponsor,
its affiliates or designees shall deposit into the Trust Account an amount equal to $850,000 (or up to $977,500 if the over-allotment
option is exercised), representing $0.10 for each Public Share upon five days advance notice prior to the applicable deadline. The Sponsor,
its affiliates or designees will receive a non-interest bearing, unsecured promissory note equal to the amount of any such deposit either
be paid upon consummation of the initial Business Combination solely from funds available outside of the Trust Account or, at the relevant
Insider’s discretion, converted upon consummation of the Business Combination into Working Capital Units at a price of $10.00 per
Working Capital Unit. Pursuant to this Letter Agreement, the Sponsor, its affiliates or designees have agreed to waive their right to
be repaid for such notes in the event that the Company fails to complete a Business Combination.

 

7. The Sponsor and each Insider
hereby agree and acknowledge that: (i) the Underwriters and the Company would be irreparably injured in the event of a breach by such
Sponsor or an Insider of its, his or her obligations under paragraphs 1, 2, 3, 4, 5, 8(a), 8(b), and 10 of this Letter Agreement (ii)
monetary damages may not be an adequate remedy for such breach and (iii) the non-breaching party shall be entitled to injunctive relief,
in addition to any other remedy that such party may have in law or in equity, in the event of such breach.

 

8. (a) The Sponsor and
each Insider agree that it, he or she shall not Transfer 50% of its Founder Shares until the earlier to occur of: (A) six months after
the completion of the Company’s initial Business Combination, or (B) the date on which the closing price of the Company’s
Class A Common Stock equals or exceeds $12.50 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations)
for any 20 trading days within any 30-trading day period commencing after the completion of the Company’s initial Business Combination;
and shall not Transfer the remaining 50% of the Founder Shares until the six months after the completion of the Company’s initial
Business Combination, or earlier, in either case, if, subsequent to the Company’s initial Business Combination, the date on which
the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of
the Company’s stockholders having the right to exchange their shares of Class A Common Stock for cash, securities or other property
(the “Founder Shares Lock-up Period”).

 

(b)
Each of the Sponsor, US Tiger, and their affiliates or designees agrees that it, he or she shall not Transfer any Private Units or Working
Capital Units until after 30 days after the completion of a Business Combination (the “Private Units Lock-up Period”,
together with the Founder Shares Lock-up Period, the “Lock-up Periods”).

 

(c)
Notwithstanding the provisions set forth in paragraphs 8(a) and (b), Transfers of the Founder Shares, Private Units, or Working Capital
Units that are held by the Initial Stockholders or any of their permitted transferees (that have complied with this paragraph 8(c)), are
permitted (a) to the Company’s officers or directors, any affiliates or family members of any of the Company’s officers or
directors, any members of the Sponsor or any of their affiliates, officers, directors, direct and indirect equity holders; (b) in the
case of an individual, by gift to a member of the individual’s immediate family, to a trust, the beneficiary of which is a member
of the individual’s immediate family or an affiliate of such person, or to a charitable organization; (c) in the case of an individual,
transfers by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, transfers pursuant
to a qualified domestic relations order; (e) transfers by private sales or transfers made in connection with the consummation of a Business
Combination at prices no greater than the price at which the securities were originally purchased; (f) transfers in the event of the Company’s
liquidation prior to the completion of an initial Business Combination; and (g) transfers by virtue of the laws of the State of Delaware
or the Sponsor’ limited liability company agreement upon dissolution of the Sponsor; provided, however, that in the case of clauses
(a) through (e) or (g), these permitted transferees must enter into a written agreement agreeing to be bound by the restrictions herein
and these permitted transferee must be U.S. persons as defined under Rule 902 of Regulation S, promulgated under the Securities Act of
1933, as amended.

 

    3 

     

    

 

(d) Without limiting the obligations
under this paragraph 8, during the period commencing on the date of commencement of sales of the Public Offering and ending 180 days after
such date the Representative shall not sell, transfer, assign, pledge or hypothecate any of its Founder Shares, Private Units, or Representative
shares, or subject any such securities to any hedging, short sale, derivative, put, or call transaction that would result in the effective
economic disposition of such securities, except as provided in FINRA Rule 5110(e)(1), which such restrictions shall not be subject to
release or waiver, with or without the consent of the Representative, during the period commencing on the date of commencement of sales
of the Public Offering and ending 180 days after such date. During the period commencing on the effective date of the Underwriting Agreement
and ending 180 days after such date, the Sponsor and each Insider shall not, without the prior written consent of the Representative,
(i) sell, offer to sell, contract or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree
to dispose of, directly or indirectly, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position
within the meaning of Exchange Act, and the rules and regulations of the Commission promulgated thereunder, with respect to any Units,
common stock of the Company (the “Common Stock”) (including, but not limited to, Founder Shares), Warrants, Rights, or any
securities convertible into, or exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, (ii) enter into any
swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Private
Units, Units, Common Stock (including, but not limited to, Founder Shares), Warrants, Rights or any securities convertible into, or exercisable,
or exchangeable for, Common Stock owned by it, him or her, whether any such transaction is to be settled by delivery of such securities,
in cash or otherwise, or (iii) publicly announce any intention to effect any transaction specified in clause (i) or (ii). Each of the
Insiders, the Sponsor and the Representative acknowledges and agrees that, prior to the effective date of any release or waiver of the
restrictions set forth in this paragraph 5, the Company shall announce the impending release or waiver by press release through a major
news service at least two business days before the effective date of the release or waiver. Any release or waiver granted shall only be
effective two business days after the publication date of such press release. The provisions of this paragraph will not apply if the release
or waiver is effected solely to permit a transfer not for consideration and the transferee has agreed in writing to be bound by the same
terms described in this Letter Agreement to the extent and for the duration that such terms remain in effect at the time of the transfer. 

 

9. Each of the Sponsor and
the Insiders represents and warrants that it, he or she has never been suspended or expelled from membership in any securities or commodities
exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each Insider’s
biographical information furnished to the Company (including any such information included in the Prospectus) is true and accurate in
all respects and does not omit any material information with respect to the Insider’s background. The Sponsor and each Insider’s
questionnaire furnished to the Company is true and accurate in all respects. Each of the Initial Stockholders represents and warrants
that: it, he or she is not subject to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation
to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; it, he or she has never been
convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of
another person, or (iii) pertaining to any dealings in any securities and it, he or she is not currently a defendant in any such criminal
proceeding. The Company represents and warrants that, to its knowledge, (i) none of its Insiders has been suspended or expelled from membership
in any securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended
or revoked, (ii) each Insider’s biographical information furnished to the Company (including any such information included in the
Prospectus) is true and accurate in all respects and does not omit any material information with respect to such advisor’s background
and each advisor’s questionnaire furnished to the Company is true and accurate in all respects, (iii) none of its Insider is subject
to or a respondent in any legal action for, any injunction, cease-and-desist order or order or stipulation to desist or refrain from any
act or practice relating to the offering of securities in any jurisdiction; and (iii) none of its Insiders has been convicted of, or pleaded
guilty to, any crime (x) involving fraud, (y) relating to any financial transaction or handling of funds of another person, or (z) pertaining
to any dealings in any securities and none of its advisors is currently a defendant in any such criminal proceeding.

 

10. Except as disclosed in
the Prospectus, the Sponsor, any affiliate or designee of the Sponsor, each Insider, any affiliate or family member of such Insider, will
not be entitled to receive and will not accept any compensation or other cash payment prior to the consummation of the Business Combination;
provided that the Company shall be allowed to repay working capital loans and Extension Loans made by the Sponsor, its affiliates or designees
to the Company in cash upon consummation of the Business Combination. Notwithstanding the foregoing, each Insider and any affiliate of
such Insider shall be entitled to reimbursement from the Company for their out-of-pocket expenses incurred in connection with identifying,
investigating and consummating a Business Combination.

 

    4 

     

    

 

11. Each of the Initial Stockholders
has full right and power, without violating any agreement to which it, he or she is bound (including, without limitation, any non-competition
or non-solicitation agreement with any employer or former employer), to enter into this Letter Agreement and, as applicable, to serve
as an officer and/or a director on the board of directors of the Company and hereby consents to being named in the Prospectus as an officer
and/or a director of the Company.

 

12. As used herein, (i) “Business
Combination” shall mean a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business
combination, involving the Company and one or more businesses; (ii) “Capital Stock” shall mean, collectively, the Class
A Common Stock and Class B common stock, par value $0.0001 per share; (iii) “Founder Shares” shall mean the 2,443,750
shares of the Company’s Class B common stock, par value $0.0001 per share, held by the Sponsor and certain of the Insiders (up to
318,750 shares of which are subject to complete or partial forfeiture by the Sponsor if the over-allotment option is not exercised in
full by the Underwriters); (iv) “Private Shares” shall mean 454,250 shares of Class A Common Stock included in the
Private Units; (v) “Private Units” shall mean 454,250 units, with each unit consisting of one share of Class A Common
Stock, one redeemable Warrant that entitles the holder to purchase one share of Class A Common Stock at a price of $11.50 per share (or
498,875 units if the over-allotment option is exercised in full) and one Right that entitles the holder to purchase one-tenth (1/10) of
one share of Class A Common Stock, that the Sponsor and US Tiger have agreed to purchase for an aggregate purchase price of $4,542,500
in the aggregate (or $4,988,750 if the over-allotment option is exercised in full), or $10.00 per unit, in a private placement that shall
occur simultaneously with the consummation of the Public Offering (in which the Sponsor has agreed to purchase 434,250 units (or 478,875
units if the over-allotment option is exercised in full) and US Tiger has agreed to purchase 20,000 units); (vi) “Public Stockholders”
shall mean the holders of securities issued in the Public Offering; (vii) “Representative Shares” shall mean 60,000
shares of Class A Common Stock issued to US Tiger (and/or its designees) as a part of its compensation simultaneously with the closing
of the Public Offering; (viii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds of
the Public Offering and the sale of the Private Units shall be deposited; (ix) “Transfer” shall mean the (a) sale or
assignment of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose
of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect
to or decrease of a call equivalent position within the meaning of Section 16 of the Securities Exchange Act of 1934, as amended, and
the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement
that transfers to another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction
is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction
specified in clause (a) or (b); (x) “Working Capital Units” shall mean private units issuable upon conversion of the
maximum aggregated amount of $3,000,000 of working capital and Extension Loans, if any, at $10.00 per unit, upon the consummation of the
Business Combination.

  

13. This Letter Agreement
constitutes the entire agreement and understanding of the parties hereto in respect of the subject matter hereof and supersedes all prior
understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to
the subject matter hereof or the transactions contemplated hereby. This Letter Agreement may not be changed, amended, modified or waived
(other than to correct a typographical error) as to any particular provision, except by a written instrument executed by all parties hereto.

 

14. No party hereto may assign
either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior written consent of the other
parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign
any interest or title to the purported assignee. This Letter Agreement shall be binding on the Sponsor and each Insider and their respective
successors, heirs and assigns and permitted transferees.

 

15. Nothing in this Letter
Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto any right, remedy or
claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or agreement hereof. All covenants,
conditions, stipulations, promises and agreements contained in this Letter Agreement shall be binding on each of the undersigned and his,
her or its respective successors, heirs and assigns and permitted transferees.

 

16. This Letter 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.

 

17. This Letter 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 Letter 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 Letter Agreement a provision as similar in terms to such invalid
or unenforceable provision as may be possible and be valid and enforceable.

 

18. This Letter 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. The parties hereto (i) all agree
that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall be brought and enforced
in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue, which jurisdiction and
venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts represent an inconvenient
forum.

 

19. Any notice, consent or
request to be given in connection with any of the terms or provisions of this Letter 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 facsimile transmission.

 

20. This Letter Agreement
shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii) the liquidation of the Company; provided, however,
that this Letter Agreement shall earlier terminate in the event that the Public Offering is not consummated and closed by December 31,
2022; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation.

 

[Signature page follows]

 

    5 

     

    

 

	 	Sincerely,
	 	 
	 	FEUTUNE LIGHT ACQUISITION CORPORATION
	 	 
	 	By:	 
	 	Name:	Yuanmei Ma
	 	Title:	Chief Financial Officer

 

[Signature Page to the Insider Letter Agreement-Company]

 

    6 

     

    

 

	
    

    FEUTUNE LIGHT SPONSOR LLC
	US TIGER SECURITIES, INC.
	 	 	 
	By:	 	 	By:	 
	Name: 	Sau Fong Yeung	 	Name:
	Title:   	Manager	 	Title:

 

	Lei Xu	 	Xuedong (Tony) Tian
	(President & Chairwoman)	 	(Chief Executive Officer and Director)
	 	 	 
	 	 	 
	 	 	 
	Yuanmei Ma	 	Michael Davidov
	(Chief Financial Officer)	 	(Independent Director)
	 	 	 
	 	 	 
	 	 	 
	Kevin Vassily	 	David Ping Li
	(Independent Director)	 	(Independent Director)
	 	 	 
	 	 	 

 

 

[Signature Page to the Insider Letter Agreement–
Initial Stockholders]

 

 

7

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