Document:

Exhibit
10.1

 

[●],
2021

 

Figure Acquisition Corp. I

650 California Street, Suite 2700

San Francisco, CA 94108

 

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 between Figure Acquisition Corp. I, a Delaware corporation (the “Company”),
and Citigroup Global Markets Inc., as underwriter (the “Underwriter”), relating to an underwritten initial
public offering (the “Public Offering”) of 28,500,000 of the Company’s units (including up to
3,750,000 units that may be purchased by the Underwriter to cover over-allotments, if any) (the “Units”),
each comprising one share of the Company’s Class A common stock, par value $0.01 per share (the “Common Stock”),
and one-third of one redeemable warrant. Each whole warrant (each, a “Warrant”) entitles the holder
thereof to purchase one share of Common Stock at a price of $11.50 per share, subject to adjustment. The Units will be sold in
the Public Offering pursuant to a registration statement on Form S-1 and a prospectus (the “Prospectus”),
filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Company
has applied to have the Units listed on The New York Stock Exchange. Certain capitalized terms used herein are defined in paragraph
11 hereof.

 

In order to induce the Company
and the Underwriter 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, each of Fintech Acquisition LLC (the “Sponsor”)
and the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team (each,
an “Insider” and collectively, the “Insiders”), hereby agrees with the Company
as follows:

 

    

     

    

	1.	The Sponsor and each Insider hereby agrees that in the event that
    the Company fails to consummate a Business Combination within 24 months from the closing of the Public Offering, or such later
    period approved by the Company’s stockholders in accordance with the Company’s amended and restated certificate
    of incorporation (the “Charter”), 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 the Common Stock
    sold as part of the Units in the Public Offering (the “Offering Shares”), at a per-share price,
    payable in cash, equal to the aggregate amount then on deposit in the Trust Account (as defined below), including interest
    earned on the funds held in the Trust Account and not previously released to the Company to pay its franchise and income taxes
    (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares,
    which redemption will completely extinguish all Public Stockholders’ rights as stockholders (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. The Sponsor and each Insider agrees not to propose any amendment
    to the Charter to (a) modify the substance or timing of the Company’s obligation to allow redemption in connection with
    a Business Combination or the Company’s obligation to redeem 100% of the Offering Shares if the Company does not complete
    a Business Combination within the time period set forth in the Charter or (b) with respect to any other provision relating
    to stockholders’ rights or pre-initial Business Combination activity, unless the Company provides Public Stockholders
    with the opportunity to redeem their shares of Common Stock upon approval of any such amendment 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 franchise and income taxes, divided by the number
    of then outstanding Offering Shares.

 

The Sponsor and each
Insider acknowledges that, with respect to the Founder Shares and shares of Class L Common Stock held by it, him or her, it, he
or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account as a result of any liquidation
of the Company. The Sponsor and each Insider hereby 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 vote any shares of Capital Stock
(whether purchased before, during or after the Public Offering, including in open market and privately negotiated transactions)
owned by it, him or her in favor of any proposed Business Combination. The Sponsor and each Insider hereby further waives, with
respect to any shares of Capital Stock and Class L 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 (i) a stockholder vote to approve such Business Combination, or (ii) a stockholder vote to approve an amendment
to the Charter to (a) modify the substance or timing of the Company’s obligation to allow redemption in connection with
a Business Combination or to redeem 100% of the Offering Shares if the Company does not complete a Business Combination within
the time period set forth in the Charter or (b) with respect to any other provision relating to stockholders’ rights or
pre-initial Business Combination activity. If the Company engages in a tender offer in connection with any proposed Business Combination,
the Sponsor and each Insider agrees that it, he or she will not seek to sell its, his or her shares of Capital Stock to the Company
in connection with such tender offer.

 

    

     

    

	2.	The undersigned acknowledges and agrees that prior to entering into
    a definitive agreement for a Business Combination or subsequent transaction with a target business that is affiliated with
    the undersigned or any other Insiders of the Company or their affiliates, such transaction must be approved by a majority
    of the Company’s disinterested independent directors and the Company, or a committee of independent directors, must,
    to the extent required by applicable law or based upon the direction of the Company’s board of directors or a committee
    thereof, obtain an opinion from an independent investment banking firm or another entity that commonly renders valuation opinions
    that such Business Combination or transaction is fair to the Company from a financial point of view.
	 	 
	3.	During the period commencing on the 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 Underwriter,
    (i) offer, sell, contract to sell, pledge or otherwise dispose of, directly or indirectly, any units, warrants, shares of
    Common Stock or 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, any Units, shares of Common Stock, Founder Shares, Warrants, Private
    Placement Warrants or any securities convertible into, or exercisable or exchangeable for, shares of Common Stock owned by
    it, him or her, (ii) establish or increase a put equivalent position or liquidate or decrease a call equivalent position within
    the meaning of Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
    and the rules and regulations of the Commission promulgated thereunder, with respect to any Units, shares of Common Stock,
    Founder Shares, Warrants, Private Placement Warrants or any securities convertible into, or exercisable or exchangeable for,
    shares of Common Stock (but excluding Units and shares of Common Stock purchased in the Public Offering or thereafter) owned
    by it, him or her, (iii) 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 Units, shares of Common Stock, Founder Shares, Warrants, Private Placement Warrants
    or any securities convertible into, or exercisable or exchangeable for, shares of 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 (iv) publicly announce any
    intention to effect any transaction specified in clause (i) , (ii) or (iii). 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.

 

    

     

    

	4.	In the event of the liquidation of the Trust Account upon the failure of the Company to
    consummate its initial Business Combination within the time period set forth in the Charter, the Sponsor (the “Indemnitor”),
    which for purposes of clarification shall not extend to any shareholders, members or managers of the Sponsor, or any of the
    other undersigned, 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) to which the Company may become subject as a
    result of any claim by (i) any third party for services rendered or products sold to the Company or (ii) any prospective target
    business with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or
    Business Combination agreement (a “Target”); provided, however, that such indemnification
    of the Company by the Indemnitor (x) 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 the lesser of (i) $10.00 per Offering Share and (ii)
    the actual amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account, if
    less than $10.00 per Offering Share is then held in the Trust Account due to reductions in the value of the trust assets,
    less interest earned on the funds in the Trust Account which may be withdrawn to pay franchise and income taxes, (y) shall
    not apply to any claims by a third party or a Target which executed a waiver of any and all rights to the monies held in the
    Trust Account (whether or not such waiver is enforceable) and (z) shall not apply to any claims under the Company’s
    indemnity of the Underwriter against certain liabilities, including liabilities under the Securities Act of 1933, as amended
    (the “Securities Act”). The Indemnitor 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 Indemnitor, the Indemnitor notifies the Company in writing that it shall undertake such defense.
	 	 
	5.	To the extent that the Underwriter does not exercise its over-allotment option to purchase
    up to an additional 3,750,000 Units within 45 days from the date of the Prospectus (and as further described in the Prospectus)
    in full, the Sponsor agrees to forfeit, at no cost, (a) an aggregate number of Founder Shares so that the number of Founder
    Shares will equal one ninth (1/9) of the Public Shares; and (b) an aggregate number of Class L Ordinary Shares so that the
    number of Class L Ordinary Shares will equal the Class L Conversion Share Amount multiplied by four (4). 
	 	 
	6.	The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriter 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, 6, 7(a), 7(b) and, solely as to each D&O Insider, 8, as applicable, 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.

 

    

     

    

	7.	(a) The Sponsor and each Insider agrees that it, he or she shall
    not Transfer (i) any Founder Shares (or shares of Common Stock issuable upon conversion thereof) until the earlier of (A)
    one year after the completion of the Company’s initial Business Combination or (B) subsequent to the Company’s
    initial Business Combination, (x) if the last reported sale price of the Common Stock equals or exceeds $12.00 per share (as
    adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within
    any 30-trading day period commencing at least 150 days after the Company’s initial Business Combination or (y) 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 Common Stock for cash,
    securities or other property (the “Founder Shares Lock-up Period”) and (ii) any Class L Common Stock,
    other than in connection with a liquidation, merger, share exchange, reorganization or other similar transaction that results
    in all of the Public Shareholders having the right to exchange their Common Stock for cash, securities or other property;
    provided that any Common Stock issued upon conversion of any Class L Common Stock will not be subject to such restrictions
    on Transfer (the “Class L Common Stock Lock-up Period”).
	 	 
	 	(b) The Sponsor and each Insider agrees that it, he or she shall
    not Transfer any Private Placement Warrants (or shares of Common Stock issued or issuable upon the exercise thereof) until
    30 days after the completion of the Company’s initial Business Combination (the “Private Placement Warrants
    Lock-up Period”, together with the Founder Shares Lock-up Period and the L Shares Lock-up Period, the “Lock-up
    Periods”).
	 	 
	 	(c) Notwithstanding the provisions set forth in paragraphs 7(a)
    and (b), Transfers of the Founder Shares, Private Placement Warrants, shares of Common Stock and shares of Class L Common
    Stock issued or issuable upon the exercise or conversion thereof and, with respect to the Founder Shares, Private Placement
    Warrants, shares of Common Stock and shares of Class L Common Stock issued or issuable upon the exercise or conversion thereof,
    that are held by the Sponsor any Insider or any of their permitted transferees (that have complied with this paragraph 7(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, the Sponsor, any members of the Sponsor, any affiliates of the Sponsor, or any affiliates of such members
    and funds and accounts advised by such members or any limited partners of any such funds that are invested in the Sponsor;
    (b) in the case of an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary
    of which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable organization;
    (c) in the case of an individual, by virtue of the laws of descent and distribution upon death of the individual; (d) in the
    case of an individual, pursuant to a qualified domestic relations order; (e) by private sales or transfers made in connection
    with the consummation of an initial Business Combination at prices no greater than the price at which the Founder Shares,
    Private Placement Warrants, shares of Common Stock or shares of Class L Common Stock were originally purchased; (f) to an
    entity that is an affiliate of the holder; (g) in the event of the Company’s liquidation prior to the completion of
    an initial Business Combination; (h) by virtue of the laws of the State of Delaware or the Sponsor’s limited liability
    company agreement upon dissolution of the Sponsor; (i) in the event of the Company’s liquidation, merger, capital stock
    exchange, reorganization or other similar transaction which results in all of the Company’s stockholders having the
    right to exchange their shares of Common Stock for cash, securities or other property subsequent to the completion of an initial
    Business Combination; or (j) to the Company for no value for cancellation in connection with the consummation of the initial
    Business Combination; provided, however, that, in the case of clauses (a) through (f) or (h), these permitted transferees
    must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions in this paragraph 7(c)
    and the other restrictions contained in this Letter Agreement.

 

    

     

    

	8.	Each of the Insiders who is or is nominated to be a director or officer of the Company (each,
    a “D&O Insider”) agrees to serve in such capacity until the earlier of the consummation by the
    Company of an initial Business Combination, the liquidation of the Company, or his or her removal, death or incapacity. The
    Sponsor and each D&O Insider 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 D&O Insider’s biographical information furnished to the Company (including any such information
    included in the Prospectus) is true and accurate in all material respects and does not omit any material information with
    respect to the D&O Insider’s background and contains all of the information required to be disclosed pursuant to
    Item 401 of Regulation S-K, promulgated under the Securities Act. Each D&O Insider’s questionnaire furnished to
    the Company and the Underwriter is true and accurate in all material respects. Each D&O Insider 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.
	 	 
	9.	Except as disclosed in the Prospectus, neither the Sponsor nor any Insider, nor any affiliate
    of the Sponsor or any Insider, shall receive from the Company any finder’s fee, reimbursement, consulting fee, monies
    in respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order
    to effectuate, the consummation of the Company’s initial Business Combination (regardless of the type of transaction
    that it is).
	 	 
	10.	The Company, the Sponsor and each Insider represents and warrants, severally and not jointly,
    that it, he or she 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 director on the board of directors of the Company and hereby consents
    to being named in the Prospectus as an officer and/or director of the Company.

 

    

     

    

	11.	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) “Business Day” means each day that is not a Saturday, Sunday
    or other day on which banking institutions in The City of New York, New York, are authorized or required by law to close;
    (iii) “Capital Stock” shall mean, collectively, the Common Stock and the Founder Shares; (iv) “Founder
    Shares” shall mean the 3,194,444 shares of the Company’s Class B common stock, par value $0.0001 per share,
    initially issued to the Sponsor (up to 416,667 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 Underwriter) outstanding immediately prior to the consummation
    of the Public Offering; (v) “Initial Stockholders” shall mean the Sponsor and any Insider that holds
    Founder Shares prior to the consummation of the Public Offering; (vi) “Private Placement Warrants”
    shall mean the Warrants to purchase up to 4,666,667 shares of Common Stock of the Company (or 5,166,667 shares of Common Stock
    if the over-allotment option is exercised in full by the Underwriter) that the Sponsor has agreed to purchase for an aggregate
    purchase price of $7,000,000 (or $7,750,000 if the over-allotment option is exercised in full by the Underwriter), or $1.50
    per Warrant, in a private placement that shall occur simultaneously with the consummation of the Public Offering; (vii) “Public
    Shares” means the shares of Common Stock included in the Units issued in the Public Offering; (viii) “Public
    Stockholders” shall mean the holders of the Offering Shares; (ix) “Trust Account”
    shall mean the trust account into which the net proceeds of the Public Offering and certain proceeds from the sale of the
    Private Placement Warrants shall be deposited; (x) “Transfer” shall mean the (a) sale 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 Exchange Act, 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); (xi) “Class L Common Stock” shall mean
    the 9,126,984 shares of Company’s Class L common stock, par value $0.0001 per share, initially issued to the Sponsor
    (up to 1,190,476 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 Underwriter) outstanding immediately prior to the consummation of the Public Offering; and
    (xii) “Class L Conversion Share Amount” shall mean
    means a number of Class L shares equal to the quotient of: (A) the difference between: (1) the quotient of: (x) the aggregate
    number of Public Shares; divided by (y) seventy percent (70%); minus (2) the aggregate number of Public Shares; minus (3)
    the aggregate number of Founder Shares issued and outstanding immediately following the consummation of the Public Offering;
    divided by (B) four (4).
	 	 
	12.	The Company will maintain an insurance policy or policies providing directors’ and
    officers’ liability insurance, and each D&O Insider shall be covered by such policy or policies, in accordance with
    its or their terms, to the maximum extent of the coverage available for any of the Company’s directors or officers.
	 	 
	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 Company, 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 for the sole and exclusive benefit of the parties hereto and their successors,
    heirs, personal representatives and assigns and permitted transferees.
	 	 
	16.	This Letter Agreement may be executed in any number of original, facsimile or other electronic
    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 or e-mail 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
        that paragraph 4 of this Letter Agreement shall survive such liquidation.

         

         

         

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	 	Sincerely,	 
	 	 	 	 	 
	 	FINTECH ACQUISITION LLC	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 
	 	 	 	 	 

 

	 	 
	Michael Cagney

        
	 
	 	 
	 	 
	 	 
	Christopher D. Davies

        
	 
	 	 
	 	 
	 	 
	Asiff Hirji

        
	 
	 	 
	 	 
	 	 
	Thomas J. Milani

        
	 
	 	 
	 	 
	 	 
	Annette Nazareth

        
	 
	 	 
	 	 
	 	 
	David Chao

        
	 
	 	 
	 	 
	 	 
	David Miller

        
	 

	 	 

	Acknowledged and Agreed:	 
	 	 
	FIGURE ACQUISITION CORP. I	 
	 	 
	 	 
	By:

        
	 	 
	 	Name:	 	 
	 	Title:	 	 

 

 

[Signature
Page to Letter Agreement]Exhibit
10.2

 

INVESTMENT
MANAGEMENT TRUST AGREEMENT

 

This Investment
Management Trust Agreement (this “Agreement”) is made effective as of [●], 2021, by and between
Figure Acquisition Corp. I, a Delaware corporation (the “Company”), and Continental Stock Transfer &
Trust Company, a New York limited purpose trust company (the “Trustee”).

 

WHEREAS,
the Company’s registration statement on Form S-1, File No. No. 333-[●] ( the “Registration Statement”)
and prospectus (the “Prospectus”) for the initial public offering of the Company’s units (the
“Units”), each of which consists of one share of the Company’s Class A common stock, par value
$0.01 per share (the “Common Stock”), and one-third of one redeemable warrant, each whole warrant entitling
the holder thereof to purchase one share of Common Stock, subject to adjustment (such initial public offering hereinafter referred
to as the “Offering”), has been declared effective as of the date hereof by the U.S. Securities and
Exchange Commission;

 

WHEREAS,
the Company has entered into an Underwriting Agreement, dated [●], 2021 (the “Underwriting Agreement”),
with Citigroup Global Markets Inc. as the underwriter (the “Underwriter”);

 

WHEREAS,
as described in the Prospectus, $250,000,000 of the gross proceeds of the Offering, the sale of the Private Placement Warrants
(as defined in the Underwriting Agreement) (or $287,500,000, if the Underwriter’s over-allotment option is exercised in
full) will be delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the United
States (the “Trust Account”) for the benefit of the Company, the holders of the Common Stock included
in the Units issued in the Offering (the “Public Stockholders”) and the Underwriter as hereinafter
provided (the amount to be delivered to the Trustee (and any interest subsequently earned thereon) is referred to herein as the
“Property,” the Public Stockholders, for whose benefit the Trustee shall hold the Property, will
be referred to collectively as the “Covered Stockholders,” and the Covered Stockholders, the
Company and the Underwriter will be referred to together as the “Beneficiaries”);

 

WHEREAS,
pursuant to the Underwriting Agreement, a portion of the Property equal to $8,750,000, or $10,062,500 if the Underwriter’s
over-allotment option is exercised in full, is attributable to deferred underwriting discounts and commissions (the “Deferred
Discount”) that will be payable by the Company to the Underwriter upon and concurrently with the consummation of
the Business Combination (as defined below); and

 

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

 

     

     

    

NOW THEREFORE,
IT IS AGREED:

 

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

 

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

 

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

 

(c) In a timely
manner, upon the written instruction of the Company, invest and reinvest the Property solely in United States government securities
within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company
Act”), having a maturity of 185 days or less, or in money market funds meeting the conditions of paragraphs (d)(1),
(d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act (or any successor rule), which invest only
in direct U.S. government treasury obligations, as determined by the Company; it being understood that the Trust Account will
earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder and the Trustee may earn
bank credits or other consideration during such periods;

 

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

 

(e) Promptly
notify the Company and the Underwriter of all communications received by the Trustee with respect to any Property requiring action
by the Company;

 

(f) Supply
any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with the Company’s
preparation of the tax returns relating to assets held in the Trust Account;

 

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

 

(h) Render
to the Company, and to such other persons as the Company may instruct, monthly written statements of the activities of, and amounts
in, the Trust Account reflecting all receipts and disbursements of the Trust Account;

 

    2 

     

    

(i) Commence
liquidation of the Trust Account only after and promptly after (x) receipt of, and only in accordance with, the terms of a letter
from the Company (“Termination Letter”) in a form substantially similar to that attached hereto as either
Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by any of its Chief Executive Officer, Chief Financial
Officer, President, Vice President, Secretary or Chairman of the Board of Directors of the Company (the “Board”)
or other authorized officer of the Company, and complete the liquidation of the Trust Account and distribute the Property in the
Trust Account, including interest not previously released to the Company to pay its franchise and income taxes (less up to $100,000
of interest that may be released to the Company to pay dissolution expenses in the case of a Termination Letter in the form of
Exhibit B hereto), only as directed in the Termination Letter and the other documents referred to therein, or (y) upon the date
which is, the later of (1) 24 months after the closing of the Offering and (2) such later date as may be approved by the Company’s
stockholders in accordance with the Company’s amended and restated certificate of incorporation if a Termination Letter
has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with
the procedures set forth in the form of letter attached hereto as Exhibit B and the Property in the Trust Account, including interest
not previously released to the Company to pay its franchise and income taxes (less up to $100,000 of interest that may be released
to the Company to pay dissolution expenses) shall be distributed to the Covered Stockholders of record as of such date;

 

(j) Upon written
request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit
C, withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested by the
Company to cover any tax obligation, including any franchise tax obligations, owed by the Company as a result of assets of the
Company or interest or other income earned on the Property, which amount shall be delivered directly to the Company by electronic
funds transfer or other method of prompt payment, and the Company shall forward such payment to the relevant taxing authority;
provided, however, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee
shall liquidate such assets held in the Trust Account as shall be designated by the Company in writing to make such distribution,
so long as such distribution shall not result in a reduction in the principal price per share amount initially deposited in the
Trust Account; provided, further, that if the tax to be paid is a franchise tax, the written request by the Company to make such
distribution shall be accompanied by a copy of the franchise tax bill from the State of Delaware for the Company (it being acknowledged
and agreed that any such amount in excess of interest income earned on the Property shall not be payable from the Trust Account).
The written request of the Company referenced above shall constitute presumptive evidence that the Company is entitled to said
funds, and the Trustee shall have no responsibility to look beyond said request;

 

(k) Upon written
request from the Company, which may be given from time to time in a form substantially similar to that attached hereto as Exhibit
D, distribute on behalf of the Company the amount requested by the Company to be used to redeem shares of Common Stock from Public
Stockholders properly submitted for redemption in connection with a stockholder vote to approve an amendment to the Company’s
amended and restated certificate of incorporation to (i) modify the substance or timing of the Company’s obligation to allow
redemption in connection with an initial Business Combination or the Company’s obligation to redeem 100% of the shares of
Common Stock included in the Units sold in the Offering (the “Public Shares”) if the Company has not
consummated an initial Business Combination within the time period set forth in the Company’s amended and restated certificate
of incorporation or (ii) with respect to any other provision relating to stockholders’ rights or pre-initial Business Combination
activity; and

 

    3 

     

    

(l) Not make
any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i), (j) or (k) above.

 

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

 

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

 

(b) Subject
to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all expenses, including reasonable
counsel fees and disbursements, or losses suffered by the Trustee in connection with any action taken by it hereunder and in connection
with any action, suit or other proceeding brought against the Trustee involving any claim, or in connection with any claim or
demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder, or the Property or
any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence, fraud
or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action,
suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b), it shall notify the
Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall
have the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall obtain the consent
of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not
agree to settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably
withheld. The Company may participate in such action with its own counsel;

 

(c) Pay the
Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee and transaction
processing fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood that
the Property shall not be used to pay such fees unless and until the closing of the Business Combination. The Company shall pay
the Trustee the initial acceptance fee and the first annual administration fee at the consummation of the Offering. The Company
shall not be responsible for any other fees or charges of the Trustee except as set forth in this Section 2(c), Schedule A and
as may be provided in Section 2(b) hereof;

 

(d) In connection
with any vote of the Company’s stockholders regarding a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination involving the Company and one or more businesses (a “Business Combination”),
provide to the Trustee an affidavit or certificate of the inspector of elections for the stockholder meeting verifying the vote
of such stockholders regarding such Business Combination;

 

    4 

     

    

(e) Provide
the Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with respect
to any proposed withdrawal from the Trust Account promptly after it issues the same;

 

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

 

(g) Instruct
the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the Trustee
to make any distributions that are not permitted under this Agreement; and

 

(h) Within
five (5) business days after the Underwriter exercises its over-allotment option in connection with the Offering (or any unexercised
portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing of the total amount of the
Deferred Discount, which shall in no event be less than $8,750,000.

 

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

 

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

 

(b) Take any
action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no liability to any
third party except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct;

 

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

 

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

 

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

 

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

 

(g) Verify
the accuracy of the information contained in the Registration Statement;

 

(h) Provide
any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as contemplated
by the Registration Statement;

 

(i) File information
returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic written statements
to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the Property;

 

(j) Prepare,
execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and activities
relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but
not limited to, franchise and income tax obligations, except pursuant to Section 1(j) hereof; or

 

(k) Verify
calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections 1(i), 1(j)
or 1(k) hereof.

 

4. Trust
Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account
that it may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including,
without limitation, under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely against the Company
and its assets outside the Trust Account and not against the Property or any monies in the Trust Account.

 

    5 

     

    

5. Termination.
This Agreement shall terminate as follows:

 

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

 

(b) At such
time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions
of Section 1(i) hereof (which section may not be amended under any circumstances) and distributed the Property in accordance with
the provisions of the Termination Letter, this Agreement shall terminate except with respect to Section 2(b).

 

6. Miscellaneous.

 

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

 

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

 

(c) This Agreement
contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Subject to Section
6(d), this Agreement or any provision hereof may only be changed, amended or modified (other than to correct a typographical error)
by a writing signed by each of the parties hereto.

 

    6 

     

    

(d) This Agreement
or any provision hereof may only be changed, amended or modified pursuant to Section 6(c) hereof with the Consent of the Stockholders.
For purposes of this Section 6(d), the “Consent of the Stockholders” means (i) receipt by the Trustee
of a certificate from the inspector of elections of the stockholder meeting certifying that the Company’s stockholders of
record as of a record date established in accordance with Section 213(a) of the Delaware General Corporation Law, as amended (or
any successor rule), who hold sixty-five percent (65%) or more of all then outstanding shares of the Common Stock, Class B common
stock, par value $0.0001 per share, of the Company voting together as a single class, have voted in favor of such change, amendment
or modification, or (ii) the Company’s stockholders of record as of the record date who hold sixty-five percent (65%) or
more of all then outstanding shares of the Common Stock, Class B common stock, par value $0.0001 per share, of the Company voting
together as a single class, have delivered to the Trustee a signed writing approving such change, amendment or modification. No
such amendment will affect any Public Stockholder who has otherwise properly indicated his, her or its election to redeem his,
her or its shares of Common Stock in connection with a stockholder vote sought to amend this Agreement, including a corresponding
change to the Company’s amended and restated certificate of incorporation. Except for any liability arising out of the Trustee’s
gross negligence, fraud or willful misconduct, the Trustee may rely conclusively on the certification from the inspector or elections
referenced above and shall be relieved of all liability to any party for executing the proposed amendment in reliance thereon.

 

(e) The parties
hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of New York,
for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT,
EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

 

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

 

if
to the Trustee, to:

 

Continental Stock Transfer
& Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: [Francis Wolf and Celeste Gonzalez

Email: fwolf@continentalstock.com

cgonzalez@continentalstock.com]

 

if
to the Company, to:

 

Figure Acquisition Corp.
I

650 California Street, Suite 2700

San Francisco, CA 94108 

Attn: General Counsel

Email: [•]

 

    7 

     

    

in
each case, with copies, which shall not constitute notice, to:

 

Davis Polk & Wardwell
LLP 

450 Lexington Avenue 

New York, NY 10017

Attn: Derek Dostal 

Email: derek.dostal@davispolk.com

 

and

 

Citigroup
Global Markets Inc. 

388
Greenwich Street 

New
York, NY 10013 

Attn: Pavan Bellur 

Email: pavan.bellur@citi.com

 

and

 

Paul Hastings LLP

200 Park Avenue 

New York, NY 10166 

Attention: Frank Lopez 

Email: franklopez@paulhastings.com

 

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

 

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

 

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

 

(j) Each of
the Company and the Trustee hereby acknowledges and agrees that the Underwriter is a third party beneficiary of this Agreement.

 

(k) Except
as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other person
or entity.

 

[Signature
Page Follows]

 

    8 

     

    

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

 

	 	CONTINENTAL STOCK TRANSFER &
	 	TRUST COMPANY, as Trustee
	 	 
	 	 
	 	By:

         
	 
	 	Name:	 
	 	Title:	 
	 	 	 
	 	 	 
	 	FIGURE ACQUISITION
        CORP. I

         

	 	 
	 	By:

         
	 
	 	Name:	 
	 	Title:	 

 

[Signature
Page to Investment Management Trust Agreement] 

     

     

    

SCHEDULE
A

 

	Fee Item	 	Time and
    method of payment	 	Amount	 
	Initial set-up fee	 	Initial closing of Offering by wire transfer	 	$	[3,500.00	]
	Trustee administration fee	 	First year, initial closing of Offering
    by wire transfer, thereafter on the anniversary of the effective date of the Offering by wire transfer or check	 	$	[10,000.00	]
	Transaction processing fee for disbursements to Company under Sections
    1(i) and 1(j)	 	Billed to Company following disbursement made to Company under Section
    1	 	$	[250.00]	 
	Paying Agent services as required pursuant to Sections 1(i) and
    1(k)	 	Billed to Company upon delivery of service pursuant to Sections
    1(i) and 1(k)	 	 	Prevailing rates	 

 

     

     

    

EXHIBIT
A

 

[Letterhead
of Company] 

[Insert
date]

 

Continental Stock Transfer &
Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: [Francis Wolf and Celeste Gonzalez]

 

Re: Trust Account
- Termination Letter

 

[Mr. Wolf and Ms. Gonzalez]:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between Figure Acquisition Corp. I (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of _________, 2021 (the
“Trust Agreement”), this is to advise you that the Company has entered into an agreement with [__________]
(the “Target Business”) to consummate a business combination with the Target Business (the “Business
Combination”) on or about [insert date]. The Company shall notify you at least seventy-two (72) hours (or such shorter
time as you may agree) in advance of the actual date fixed for the consummation of the Business Combination (the “Consummation
Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance
with the terms of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account
and transfer the proceeds to a segregated account held by you on behalf of the Beneficiaries to the effect that, on the Consummation
Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or accounts that the
Company shall direct on the Consummation Date (including as directed to it by the Underwriter (with respect to the Deferred Discount)).
It is acknowledged and agreed that while the funds are on deposit in the Trust Account awaiting distribution, the Company will
not earn any interest or dividends.

 

On the Consummation
Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated,
or will be consummated substantially concurrently with your transfer of funds to the accounts as directed by the Company (the
“Notification”) and (ii) the Company shall deliver to you (a) a certificate of its Chief Executive Officer,
Chief Financial Officer or Chief Operating Officer (the “Vote Verification Certificate”), which verifies
either that (i) the Business Combination has been approved by a vote of the Company’s stockholders, if a vote is held or
(ii) no vote of the Company’s stockholders for the approval of the Business Combination is required and none has been held,
and (b) a joint written instruction signed by the Company and the Underwriter with respect to the transfer of the funds held in
the Trust Account, including payment of amounts owed to Public Stockholders who have properly exercised their redemption rights
and payment of the Deferred Discount to the Underwriter from the Trust Account (the “Instruction Letter”).
You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification,
the Vote Verification Certificate and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event
that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify
the Company in writing of the same and the Company shall direct you as to whether such funds should remain in the Trust Account
and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary
for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall
be terminated.

 

    9 

     

    

In the event
that the Business Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified
you on or before the original Consummation Date of a new Consummation Date, then upon receipt by you of written instructions from
the Company, the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the
business day immediately following such original Consummation Date as set forth in such notice or as soon thereafter as possible.

 

[Signature
Page Follows]

 

    10 

     

    

	 	Very truly yours,

         

	 	 
	 	Figure Acquisition
        Corp. I

         

	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

cc: Citigroup Global Markets
Inc.

 

     

     

    

EXHIBIT
B

 

[Letterhead
of Company] 

[Insert
date]

 

Continental Stock Transfer &
Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: [Francis Wolf and Celeste Gonzalez]

 

Re: Trust Account
- Termination Letter

 

[Mr. Wolf and Ms. Gonzalez]:

 

Pursuant
to Section 1(i) of the Investment Management Trust Agreement between Figure Acquisition Corp. I (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of _________, 2021 (the
“Trust Agreement”), this is to advise you that the Company has been unable to effect a business combination
with a Target Business (the “Business Combination”) within the time frame specified in the Company’s
[amended and restated] certificate of incorporation, as described in the Company’s Prospectus relating to the Offering.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance
with the terms of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and keep the
total proceeds thereof in the Trust Account to await distribution to the Covered Stockholders. The Company has selected [_________,
20__]1 as the effective date for the purpose of determining when the Covered Stockholders will be entitled to receive
their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent,
agree to distribute said funds directly to the Covered Stockholders in accordance with the terms of the Trust Agreement and the
Company’s [amended and restated] certificate of incorporation. Upon the distribution of all the funds, net of any payments
necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement
shall be terminated, except to the extent otherwise provided in Section 1(i) of the Trust Agreement.

 

	 	Very truly yours,
	 	 	 
	 	Figure Acquisition Corp. I
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

cc: Citigroup Global Markets
Inc.

 

___________________

1 24 months from the
closing of the Offering or at a later date, if extended. 

     

     

    

EXHIBIT
C

 

[Letterhead
of Company] 

[Insert
date]

 

Continental Stock Transfer &
Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: [Francis Wolf and Celeste Gonzalez]

 

Re: Trust Account
- Withdrawal Instruction

 

[Mr. Wolf and Ms. Gonzalez]:

 

Pursuant
to Section 1(j) of the Investment Management Trust Agreement between Figure Acquisition Corp. I (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of _________, 2021 (the
“Trust Agreement”), the Company hereby requests that you deliver to the Company $[_____] of the interest
income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set
forth in the Trust Agreement.

 

The Company
needs such funds [to pay for the tax obligations as set forth on the attached tax return or tax statement]. In accordance with
the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon
your receipt of this letter to the Company’s operating account at:

 

[WIRE
INSTRUCTION INFORMATION]

 

	 	Very truly yours,

         

	 	 	 
	 	Figure Acquisition
        Corp. I

         

	 	 	 
	 	By:

         
	 
	 	Name:	 
	 	Title:	 

 

cc: Citigroup Global Markets
Inc.

 

     

     

    

EXHIBIT
D

 

[Letterhead
of Company] 

[Insert
date]

 

Continental Stock Transfer &
Trust Company

1 State Street, 30th Floor

New York, New York 10004

Attn: [Francis Wolf and Celeste Gonzalez]

 

Re: Trust Account
- Stockholder Redemption Withdrawal Instruction

 

[Mr. Wolf and Ms. Gonzalez]:

 

Pursuant
to Section 1(k) of the Investment Management Trust Agreement between Figure Acquisition Corp. I (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of _________, 2021 (the
“Trust Agreement”), the Company hereby requests that you deliver $[_____] of the principal and interest
income earned on the Property as of the date hereof to a segregated account held by you on behalf of the Public Stockholders who
have properly elected to have their Public Shares redeemed by the Company as described below. Capitalized terms used but not defined
herein shall have the meanings set forth in the Trust Agreement.

 

The Company
needs such funds to pay the Public Stockholders who have properly elected to have their Public Shares redeemed by the Company
in connection with a stockholder vote to approve an amendment to the Company’s [amended and restated] certificate of incorporation
to modify the substance or timing of the ability of Public Stockholders to seek redemption in connection with an initial Business
Combination or the Company’s obligation to redeem 100% of the Public Shares if the Company has not consummated an initial
Business Combination within such time as is described in the Company’s [amended and restated] certificate of incorporation
or to affect provisions of the Company’s [amended and restated] certificate of incorporation relating to the Company’s
pre-initial Business Combination activity or related stockholder rights. As such, you are hereby directed and authorized to transfer
(via wire transfer) such funds promptly upon your receipt of this letter to a segregated account held by you on behalf of such
Public Stockholders.

 

	 	Very truly yours,
	 	 	 
	 	Figure Acquisition
        Corp. I

         

	 	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 

 

cc: Citigroup Global Markets
Inc.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00320-of-00352.parquet"}]]