Document:

Exhibit 10.1

 

EXECUTION VERSION

 

Heads
of Agreement

 

Faraday
Future Intelligent Electric Inc. (“FFIE”), FF Global Partners LLC (“FF Global Partners”) and FF
Top Holding LLC (“FF Top”), by their execution and delivery of this Heads of Agreement (this “Heads of Agreement”
or “Agreement”), intending to be legally bound, hereby agree as follows effective as of September 23, 2022 (the “Effective
Date”).

 

		A.	Definitive
                                            Documentation

 

The
parties agree to work expeditiously, cooperatively and in good faith to draft, negotiate, execute and deliver definitive documentation
(the “Definitive Documents”) with respect to the agreements set forth in Part C hereof; such execution and delivery
to occur no later than September 30, 2022 (unless otherwise agreed in writing by the parties). Unless and until the parties execute and
deliver the Definitive Documents, Part C and Part D hereof shall constitute the agreement of the parties with respect to the matters
set forth therein and shall be binding upon the parties.

 

		B.	Announcement

 

[Reserved.]

 

		C.	Governance
                                            Matters

 

		1.	The
                                            “Executive Chairperson Resignation Condition” shall be satisfied upon
                                            FFIE (or its subsidiaries) (i) having entered into (x) that certain amendment (the “ATW
                                            Amendment”) contemplated to be entered into by certain persons on or about the
                                            date hereof to that certain Securities Purchase Agreement, dated August 14, 2022 (the “ATW
                                            Purchase Agreement”) among Faraday, FF Simplicity Ventures LLC and the purchasers
                                            signatory thereto or (y) another agreement providing for new or accelerated funding in at
                                            least the same amount as the contemplated ATW Amendment and (ii) the Company having received
                                            $13.5 million in funding, immediately available for FFIE’s general use, on or after
                                            the date hereof (whether pursuant to the ATW Amendment or otherwise).

 

		2.	The
                                            “Implementation Condition” shall be satisfied upon FFIE (or its subsidiaries)
                                            (i) having entered into one or more definitive agreements on or after the Effective Date
                                            that, in the aggregate, provide for at least $85 million of additional or accelerated financing
                                            commitments of any type (debt, equity or otherwise), on any terms and conditions, to FFIE
                                            and its subsidiaries and (ii) having received funding thereunder, immediately available for
                                            FFIE’s general use, of at least $35 million. For the avoidance of doubt, a definitive
                                            agreement (including the ATW Amendment) entered into in connection with the facility provided
                                            under the ATW Purchase Agreement that provides for financing commitments in addition to the
                                            original $52 million ATW commitment shall count towards the $85 million and, if funded, the
                                            $35 million referred to in the preceding sentence (but any acceleration of pre-existing funding
                                            pursuant to the ATW Amendment, including the $15 million in accelerated funding contemplated
                                            thereunder, shall be excluded from the $85 million and $35 million referred to in the preceding
                                            sentence). Provided that the Implementation Condition shall have been satisfied:

 

		a.	Effective
                                            with the FFIE board of directors (the “Board”) to be elected at FFIE’s
                                            2022 Annual General Meeting of stockholders (the “2022 AGM”), the Board
                                            will be reduced from nine to seven members.

 

		b.	FFIE
                                            will call, convene, hold and complete the 2022 AGM (in each case on the earliest date permitted
                                            under Delaware law and applicable Nasdaq Stock Market LLC (“Nasdaq”) and
                                            Securities and Exchange Commission (“SEC”) requirements).

 

     

     

    

 

		c.	The
                                            Board and the Board’s Nominating & Corporate Governance Committee (the “N&CGC”)
                                            shall nominate, include in its preliminary and definitive proxy statement, recommend that
                                            stockholders vote in favor of (and not withdraw or change such recommendation) and solicit
                                            proxies in favor of, the following individuals (the “Nominees”)
                                            for election to the Board at the 2022 AGM:

 

		i.	FFIE’s
                                            Global CEO, Carsten Breitfeld.

 

		ii.	Three
                                            directors selected by FF Top, at least one of whom will be an independent director within
                                            the meaning of Nasdaq rules. Subject solely to the prior reasonable verification/reasonable
                                            approval of the Selection Committee (as defined below) that such nominees satisfy such Nasdaq
                                            rules (with respect to the one independent director) and legal compliance and criminal compliance,
                                            the Board (including the N&CGC) shall cause each such director nominated by FF Top to
                                            be nominated on the Board’s slate (and shall recommend in the proxy statement that
                                            FFIE’s stockholders vote in favor of each such nominee and shall not withdraw or change
                                            that recommendation). Section 2.1(c) of the Shareholder Agreement dated July 21, 2021 between
                                            FFIE and FF Top (the “Shareholder Agreement”) will apply to the directors
                                            nominated by FF Top.

 

		iii.	Three
                                            independent directors within the meaning of Nasdaq rules selected by a committee (the “Selection
                                            Committee”) from a pool of candidates recruited/curated by Heidrick & Struggles
                                            International, Inc. (or a substitute recruiting firm of similar national reputation agreed
                                            to by a majority of the Selection Committee members)(the “Recruiting Firm”).
                                            The Selection Committee will consist of a designee from the N&CGC reasonably acceptable
                                            to FF Top, the FFIE Global CEO and a person designated by FF Top reasonably acceptable to
                                            FFIE. Any Selection Committee member may propose a director candidate who will be included
                                            in the Recruiting Firm’s process with all final decisions made by the Selection Committee.
                                            The parties will work as from the Effective Date to complete the foregoing process as promptly
                                            as practicable and, without limiting the generality of the forgoing, shall use their respective
                                            reasonable best efforts to complete such process within one month from the Effective Date.

 

		iv.	At
                                            the 2022 AGM, without the consent of the Selection Committee, no existing FFIE director will
                                            be renominated to the FFIE board other than the FFIE Global CEO; provided that this restriction
                                            shall not apply to Mr. Adam He.

 

		d.	FF
                                            Top will have the right to maintain three FF Top-nominated directors on the Board through
                                            FFIE’s 2026 Annual General Meeting of stockholders, provided it retains at least a
                                            5% Shareholder Share Percentage (as defined in the Shareholder Agreement), and thereafter
                                            will have the right to nominate directors to the Board based on the formula in the Shareholder
                                            Agreement, subject solely to the prior reasonable verification/reasonable approval of the
                                            N&CGC that such nominees satisfy Nasdaq independence rules (with respect to the one independent
                                            director) and legal compliance and criminal compliance. Section 2.1(c) of the Shareholder
                                            Agreement will apply to the directors nominated by FF Top. FF Top and FFIE shall execute
                                            an amended and restated shareholder agreement that shall include the foregoing (it being
                                            understood that the effective date of such amended and restated shareholder agreement shall
                                            be no earlier than the Implementation Date and no later than the date of the 2022 AGM).

 

		3.	Certain
                                            resignations:

 

		a.	The
                                            person who is the executive chairperson of the Company as of the date of this Agreement (the
                                            “Executive Chairperson”) hereby irrevocably agrees that she shall, promptly
                                            on the date of satisfaction of the Executive Chairperson Resignation Condition, (i) resign
                                            from (x) all non-director positions held at FFIE (including from the position as Executive
                                            Chairman), and (y) from all Board leadership and committee positions, and, (ii) not seek
                                            or accept re-appointment, re-nomination, re-election or new employment or engagement with
                                            respect to any non-director position at the Company (or any Board leadership or committee
                                            position).

 

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		b.	The
                                            Executive Chairperson and the person who was chairman of the Board until January 31, 2022
                                            (the “Former Chairman”) each hereby irrevocably agree that he or she shall,
                                            promptly on the date of satisfaction of the Implementation Condition, (i) resign from the
                                            Board, and, (ii) not seek or accept re-appointment, re-nomination or, re-election to the
                                            Board.

 

	 	 	Following
                                            such resignation, FF Top will not seek the nomination or appointment of a director to replace
                                            either such director, other than a director nominated for election at the 2022 AGM in accordance
                                            with Section 2(c)(ii) of this Part C, and as a consequence of this Section 3(b) of this Part
                                            C (and taking into account the appointment of Mr. Adam He pursuant to Section 3 of Part D)
                                            the Board shall, following the resignation from the Board of the Executive Chairperson and
                                            the Former Chairman, have no more than eight directors until the 2022 AGM.

 

		4.	FFIE’s
                                            press release announcing this Heads of Agreement shall be subject to the reasonable approval
                                            of FF Top and will occur no later than market open on the business day following execution
                                            and delivery hereof and the ATW Amendment.

 

		5.	Subject
                                            to satisfaction of the Implementation Condition, the preliminary 2022 AGM proxy (with the
                                            earliest meeting and record dates permitted by law and Nasdaq rules to be filled in promptly
                                            after clearance of SEC comments, which clearance FFIE shall diligently and expeditiously
                                            pursue in consultation with FF Top) will be filed no later than five business days after
                                            identification of the full director slate in accordance with Section 2(c) of this Part C,
                                            with the definitive proxy statement to be filed and sent for printing and mailing within
                                            three business days after the SEC 10-day review period or, if later, clearing SEC comments;
                                            all such proxy statement filings shall be subject to the reasonable approval of FF Top.

 

		6.	There
                                            is no change to FFIE’s Class A/B share structure (including 10x Class B voting rights
                                            upon $20 billion market capitalization).

 

		7.	FFIE
                                            will reinstitute the former FF Transformation Committee which will be comprised of the Company’s
                                            Global CEO, Founder/CPUO, CFO and GC and those additional senior leadership team members
                                            invited by committee members from time to time. A designee of FF Top will be given committee
                                            observer status provided that customary non-disclosure and confidentiality agreements are
                                            executed (without standstill or other non-confidentiality enhancements).

 

		8.	In
                                            the event FFIE’s compliance with any of the foregoing provisions is challenged by a
                                            governmental authority or national securities exchange of competent jurisdiction on grounds
                                            that such provision is inconsistent with applicable law or an applicable rule of a securities
                                            exchange on which securities of FFIE are then listed, FFIE will promptly notify FF Top of
                                            such challenge and thereafter will, in consultation with FF Top, use reasonable best efforts
                                            to take or cause to be taken all such actions, and do or cause to be done all such things,
                                            as shall be required, necessary, proper or advisable to give full effect to the intent of
                                            the parties as set forth herein (including, without limitation, by initiating or defending
                                            any legal proceeding). FF Top shall be entitled to participate at its own expense in all
                                            legal proceedings and other interactions with any government authority or national securities
                                            exchange and comment in advance on any drafts. If, notwithstanding the foregoing and after
                                            having exhausted all available appeals, FFIE is compelled by applicable law or the rules
                                            of any national securities exchange of competent jurisdiction to amend any of the foregoing
                                            provisions in order to comply with such applicable law or rule of a national securities exchange,
                                            then the parties shall reasonably cooperate to so amend such provisions, and, if the parties
                                            are unable to agree on such amendments notwithstanding such reasonable cooperation, then
                                            the N&CGC shall be entitled to amend such provisions, but only to the minimum extent
                                            required by such law or rule and while preserving, to the maximum extent possible, the intent
                                            of the parties as set forth herein.

 

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		9.	On
                                            the Effective Date, FF Global Partners, its executive committee members and their controlled
                                            affiliates, FF Global Partners LLC’s controlled affiliates (including FF Top), FFIE,
                                            its directors and their controlled affiliates (including for the avoidance of doubt, Property
                                            Solutions Acquisition Corp.), and FFIE’s controlled affiliates shall execute a mutual
                                            release, covenant not to sue and non- disparagement agreement in the form of Exhibit A
                                            hereto.

 

		D.	Other
                                            Matters

 

		1.	Dismissal
                                            of Litigation. No later than two business days after the Effective Date, FF Top and FF
                                            Global shall cause any and all actions in the Court of Chancery of the State of Delaware,
                                            or any other forum, filed by FF Top, FF Global and/or any of their respective controlled
                                            affiliates on or prior to the Effective Date (the “Existing Claims”),
                                            naming FFIE or any of its directors or officers, including all counterclaims, cross-claims
                                            and the like asserted in the foregoing actions, to be dismissed without prejudice, with each
                                            party to bear its own costs and attorneys’ fees. FF Top and FF Global shall not (and
                                            shall cause their respective controlled affiliates not to) refile any litigations or proceedings
                                            with respect to the Existing Claims for so long as FFIE is in compliance in all material
                                            respects with this Agreement and all Definitive Documents.

 

		2.	Lead
                                            Independent Director Resignation. The person who is Lead Independent Director as of the
                                            date of this Agreement hereby irrevocably agrees that he shall, promptly on the date hereof
                                            upon execution and delivery of this Agreement, resign from the N&CGC and not thereafter
                                            seek or accept reappointment thereto.

 

		3.	Appointment
                                            of Adam He. FF Top hereby consents to any action taken by the Board to increase the total
                                            number of directors of FFIE from nine (9) to ten (10) for the sole purpose of appointing
                                            Mr. Adam He to the Board. Promptly on the date hereof upon execution and delivery of this
                                            Agreement, the Board and the N&CGC shall nominate, and the Board shall appoint, Mr. Adam
                                            He as a director of FFIE to fill the vacancy resulting from such increase in the total number
                                            of directors until the 2022 AGM. Immediately upon his appointment as a director of FFIE,
                                            the Board shall appoint Mr. He to the Board’s Audit Committee and to the N&CGC
                                            and he shall not be removed from either such committee prior to the 2022 AGM.

 

		4.	Specific
                                            Performance. Each party agrees that the other parties would be irreparably injured by
                                            a breach or threatened breach hereof and monetary remedies would be inadequate to protect
                                            such other parties against any actual or threatened breach or continuation of any breach
                                            hereof. Without prejudice to any other rights and remedies otherwise available to any party,
                                            each party shall be entitled to seek equitable relief, including an injunction and specific
                                            performance, in addition to all other remedies available to it at law or in equity, and without
                                            proof of actual damages or the inadequacy of monetary damages, to prevent breaches or threatened
                                            breaches hereof by the other party. Each party hereby waives any requirement for the securing
                                            or posting of any bond in connection with such remedy to the extent permitted by applicable
                                            law.

 

		5.	Amendments;
                                            Waivers; Consents. This Agreement may be amended, supplemented or changed only by a written
                                            instrument signed each party. Any provision hereof may be waived, and any breach of any provision
                                            hereof may be consented to, by the party entitled to the benefit of such provision only by
                                            means of a written waiver or consent that is validly executed by such party and that refers
                                            specifically to the particular provision or provisions subject to such waiver or consent.
                                            The failure or refusal by any party to insist upon strict performance of any provision hereof
                                            or to exercise any right in any one (1) or more instances or circumstances shall not be construed
                                            as a waiver or relinquishment of such provision or right.

 

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		6.	Severability.
                                            Any term or provision hereof that is invalid or unenforceable in any situation in any jurisdiction
                                            shall not affect the validity or enforceability of the remaining terms and provisions hereof
                                            or the validity or enforceability of the offending term or provision in any other situation
                                            or in any other jurisdiction.

 

		7.	Entire
                                            Agreement. The Shareholder Agreement remains in full force and effect (it being understood
                                            that, upon satisfaction of the Implementation Condition, to the extent the terms of the Shareholder
                                            Agreement conflict with the terms of this Agreement, this Agreement shall prevail). Except
                                            as set forth in the immediately preceding sentence, this Agreement is the entire agreement
                                            between the parties with respect to the subject matter hereof, and supersedes all prior agreements
                                            and understandings, both written and oral, among the parties with respect to the subject
                                            matter hereof.

 

		8.	THIS
                                            AGREEMENT AND ITS ENFORCEMENT AND ANY CONTROVERSY ARISING OUT OF OR RELATING TO THE MAKING
                                            OR PERFORMANCE OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
                                            LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO DELAWARE’S PRINCIPLES OF CONFLICTS
                                            OF LAW. IN THE EVENT OF A CONFLICT BETWEEN THIS AGREEMENT AND THE COMPANY’S CERTIFICATE
                                            OF INCORPORATION AND/OR BYLAWS, THE PROVISIONS OF THIS AGREEMENT SHALL SUPERSEDE THE COMPANY’S
                                            CERTIFICATE OF INCORPORATION AND/OR BYLAWS WITH RESPECT TO SUCH CONFLICTING SUBJECT MATTER.
                                            Each party hereto hereby (i) agrees that any action, directly or indirectly, arising out
                                            of, under or relating to this Agreement shall exclusively be brought in and shall exclusively
                                            be heard and determined by the federal and state courts located in the State of Delaware
                                            and (ii) solely in connection with the action(s) contemplated by clause (i) hereof, (A) irrevocably
                                            and unconditionally consents and submits to the exclusive jurisdiction of the courts identified
                                            in clause (i) hereof, (B) irrevocably and unconditionally waives any objection to the laying
                                            of venue in any of the courts identified in clause (i) of this Section 8, (C) irrevocably
                                            and unconditionally waives and agrees not to plead or claim that any of the courts identified
                                            in such clause (i) is an inconvenient forum or does not have personal jurisdiction over any
                                            party hereto, and (D) agrees that mailing of process or other papers in connection with any
                                            such action in the manner provided in the Shareholder Agreement or in such other manner as
                                            may be permitted by applicable law shall be valid and sufficient service thereof. EACH PARTY
                                            HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
                                            RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM OR ACTION DIRECTLY OR INDIRECTLY
                                            ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
                                            HEREBY.

 

		9.	Assignability;
                                            No Third-Party Beneficiaries. Neither this Agreement nor any of the rights, interests
                                            or obligations hereunder may be assigned or delegated, in whole or in part, by any party
                                            without the prior written consent of the other parties, and any such assignment without such
                                            prior written consent shall be null and void. This Agreement shall be binding upon, and shall
                                            be enforceable by and inure to the benefit of, the parties and their respective successors
                                            and permitted assigns. Nothing herein, other than Section 9 of Part C, is intended to or
                                            shall confer upon any person, other than the parties, any right, benefit or remedy of any
                                            nature whatsoever.

 

		10.	The
                                            parties agree that time is of the essence in the performance of each of their obligations
                                            pursuant to this Agreement.

 

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IN
WITNESS WHEREOF, the parties hereto have duly executed and delivered this Heads of Agreement as of the Effective Date.

 

	FARADAY FUTURE INTELLIGENT ELECTRIC
    INC.
	 	 
	By:	/s/
    Carsten Breitfeld	 
		Name:	Dr. Carsten Breitfeld	 
		Title:	Global Chief Executive Officer	 
	 	 	 
	FF GLOBAL PARTNERS LLC	 
	 	 	 
	By:	/s/
    Jiawei Wang	 
		Name:	Jiawei Wang	 
		Title:	President	 
	 	 	 
	FF TOP HOLDING LLC	 
	 	 	 
	By: 	FF Peak Holding LLC, its sole member	 
	 	 	 	 
	By:	Pacific Technology Holding LLC, its managing member
	 	 	 	 
	By: 	FF Global Partners LLC, its managing member	 
	 	 	 	 
	By:	/s/ Jiawei
    Wang	 
		Name: 	Jiawei Wang	 
		Title:	PresidentExhibit 10.2

 

EXECUTION VERSION

 

MUTUAL RELEASE

 

This
MUTUAL RELEASE (this “Release”) is entered into as of September 23, 2022, by and between (i) FF Global
Partners, LLC, a Delaware limited liability company (“FFGP”), (ii) the entities listed on Schedule 1
hereto (the “FFGP Controlled Affiliates”), (iii) the individuals listed on Schedule 2 hereto, in their
capacities as executive committee members of FFGP (the “Executive Committee Members”), (iv) FF Top Holding LLC, a
Delaware limited liability company (“FF Top” and, together with FFGP, the FFGP Controlled Affiliates and the
Executive Committee Members, the “FFGP Parties”), (v) Faraday Future Intelligent Electric, Inc., a Delaware
corporation (“FFIE”), (vi) the entities listed on Schedule 3 hereto (the “FFIE Controlled
Affiliates” and, together with FFIE, the “FFIE Parties” and, together with the FFGP Parties, the
“Non-Director Parties”) and (vii) the individuals listed on Schedule 4 hereto (each, a
“Director” and the Directors, together with the Non-Director Parties, the “Parties”).

 

RECITALS

 

WHEREAS,
this Release is an exhibit to the Heads of Agreement (the “Heads of Agreement”) entered into by FFIE, FFGP and FF Top
which contemplates, among other things, the negotiation and execution of Definitive Documents (as defined in the Heads of Agreement);

 

WHEREAS,
resolving the governance disputes between FFIE and its shareholders is essential to FFIE’s ability to procure incremental financing;

 

WHEREAS,
FFIE believes that it will suffer material harm without significant near-term financing;

 

WHEREAS,
certain affiliates of ATW Partners Opportunities Management, LLC have committed to providing financing to FFIE, subject to, among other
things, the resolution of such governance disputes and FFIE believes that obtaining such financing is critical to it;

 

WHEREAS,
the Parties share a common interest in resolving such governance disputes; and

 

WHEREAS,
the Parties desire to settle various matters among them, on the terms and subject to the conditions set forth in this Release and in the
Heads of Agreement, including, but in no way limited to, with respect to any differences that arose in any way out of Directors’
service as a director, employee, officer or manager of FFIE up through and including the Effective Date.

 

     

     

    

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the covenants and agreements contained herein, and for other valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, each Party, intending to be legally bound hereby, agrees as follows:

 

1. Definitions.

 

(a) Each
term defined in the opening paragraph and the Recitals above shall have the meaning assigned to such term therein.

 

(b) “Claims”
means, collectively, any and all manner of action or actions, causes of action, executions, investigations, proceedings, suits, orders,
judgments, debts, obligations, liens, torts, contracts, agreements, rights, promises, liabilities, claims, charges, complaints, contentions,
accountings, dues or demands, interests, damages, losses, costs and expenses (including attorneys’ fees and expenses) of any nature
whatsoever, including any derivative claims, whether direct or indirect, liquidated or unliquidated, accrued or unaccrued, known or unknown,
anticipated or unanticipated, disputed or undisputed, fixed or contingent, matured or unmatured, now existing or hereinafter arising,
both at law and in equity (including, without limitation, crossclaims, counterclaims and rights of set off and/or recoupment); provided,
however, that “Claims” shall not include any manner of claim or cause of action arising on or after the date hereof from this
Release, the Heads of Agreement (or any joinder thereto), the Definitive Documents contemplated by the Heads of Agreement, or any provision
in the Shareholder Agreement that survives the Heads of Agreement or, upon execution of such Definitive Documents, survives the Definitive
Documents (including without limitation the amended and restated Shareholder Agreement contemplated by the Heads of Agreement).

 

(c) “Director
Released Parties” means, collectively, each Director and its respective heirs, executors, administrators, successors, personal
representatives, estate, assigns, advisors and other representatives.

 

(d) “FFGP
Released Parties” means, collectively, each of (i) the FFGP Parties, (ii) their respective predecessors, successors and assigns,
(iii) with respect to the foregoing clauses (i) and (ii) and solely in their capacity as such, their advisors, advisees, sub-advisees
and other representatives, and (iv) with respect to the foregoing clauses (i) through (iii) and solely in their capacity as such,
all of their respective past, present or future officers, directors, principals, shareholders, members, partners, general partners, limited
partners, managers, controlling persons, employees, administrators, heirs and executors.

 

(e) “FFIE
Released Parties” means, collectively, each of (i) the FFIE Parties, (ii) their respective predecessors, successors and assigns,
(iii) with respect to the foregoing clauses (i) and (ii) and solely in their capacity as such, their advisors, advisees, sub-advisees
and other representatives, and (iv) with respect to the foregoing clauses (i) through (iii) and solely in their capacity as such,
all of their respective past, present or future officers, directors, principals, shareholders, members, partners, general partners, limited
partners, managers, controlling persons, employees, administrators, heirs and executors. For the avoidance of doubt, the “FFIE Released
Parties” shall not include the Director Released Parties.

 

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(f) “Non-Director
Released Parties” means, collectively, each of (i) the Non-Director Parties, (ii) their respective predecessors, successors
and assigns, (iii) with respect to the foregoing clauses (i) and (ii) and solely in their capacity as such, their advisors, advisees,
sub-advisees and other representatives, and (iv) with respect to the foregoing clauses (i) through (iii) and solely in their capacity
as such, all of their respective past, present or future officers, directors, principals, shareholders, members, partners, general partners,
limited partners, managers, controlling persons, employees, administrators, heirs and executors. For the avoidance of doubt, the “Non-Director
Released Parties” shall not include the Director Released Parties.

 

2. Other
Definitional Provisions. Article, Section, Schedule, and Exhibit references are to Articles and Sections of and Schedules and Exhibits
to this Release, unless otherwise specified. The words “hereof’, “herein”, and “hereunder” and words
of similar import when used in this Release shall refer to this Release as a whole and not to any particular provision of this Release.
The term “including” means “including, without limitation”. Wherever from the context it appears appropriate,
each term stated in either the singular or plural shall include the singular and plural. Paragraph headings have been inserted in this
Release as a matter of convenience for reference only and it is agreed that such paragraph headings are not a part of this Release and
shall not be used in the interpretation of any provision of this Release.

 

3. Non-Director Party Releases.

 

(a)
Effective upon the Effective Date, in exchange for good and valuable consideration, the adequacy of which is hereby confirmed, each
of the Non-Director Parties, on its own behalf and on behalf of each of the Non-Director Released Parties, hereby voluntarily,
intentionally, knowingly, absolutely, unconditionally and irrevocably releases, waives, remits, acquits and forever discharges and
covenants not to sue each of the Director Released Parties from and with respect to any and all Claims asserted or assertable by or
on behalf of any Non- Director Released Party, which he, she or it now has, has ever had or may hereafter have, by reason of any
actual or alleged act, omission, transaction, practice, conduct, occurrence, cause, event or other matter whatsoever occurring at
any time on or prior to the Effective Date, arising out of, relating to or in any way connected with (x) any Director’s
relationship with any Non-Director Released Party in his or her capacity as a director, employee, officer or manager of FFIE, FFGP
or any of each of their subsidiaries or affiliates or (y) any event, condition, circumstance or obligation that occurred, existed or
arose on or prior to the Effective Date.

 

(b)
From and after the Effective Date, each Non-Director Party hereby acknowledges and confirms, and covenants and agrees, that it
shall: (i) not take any action, or cause the applicable Non-Director Released Party to take any action, to terminate, amend or
restrict any indemnity agreements in favor of any Director in place prior to the Effective Date; and (ii) abide by, and not take any
action, or cause the applicable Non-Director Released Party to take any action, to amend, change or modify in any manner whatsoever
that may be adverse to any Director Released Party, the rights to insurance existing in favor of any Director, in each case except
where required by applicable law.

 

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4. Releases
by Directors. Effective upon the Effective Date, in exchange for good and valuable consideration, the adequacy of which is hereby
confirmed, each Director, on behalf of himself or herself and each of the Director Released Parties, hereby voluntarily, intentionally,
knowingly, absolutely, unconditionally and irrevocably releases, waives, remits, acquits and forever discharges and covenants not to sue
each of the Non-Director Released Parties from and with respect to any and all Claims asserted or assertable by or on behalf of any Director
Released Party, which he, she or it now has, has ever had or may hereafter have, by reason of any actual or alleged act, omission, transaction,
practice, conduct, occurrence, cause, event or other matter whatsoever occurring at any time on or prior to the Effective Date, arising
out of, relating to or in any way connected with (x) a Director’s employment relationship with or service as a director, employee,
officer or manager of FFIE or any subsidiaries or affiliates thereof, and the termination of such relationship or service, or (y) any
event, condition, circumstance or obligation that occurred, existed or arose on or prior to the Effective Date. Notwithstanding anything
to the contrary herein, nothing in this Release shall be effective to release any Non-Director Released Party from any Claims, rights
or entitlements that any Director Released Party may have now or in the future, if any: (i) for indemnification or advancement or reimbursement
of expenses granted by FFIE Parties to any Director in his or her capacity as a director, employee or officer of FFIE or any subsidiaries
or affiliates thereof pursuant to the Shareholder Agreement dated July 21, 2021 by and between FFIE and FF Top (the “Shareholder
Agreement”) or the terms of the by-laws in place prior to the Effective Date of FFIE or any subsidiaries or affiliates thereof,
and the applicable laws of the jurisdiction of incorporation or organization of FFIE or any subsidiaries or affiliates thereof, as applicable,
or any indemnity agreements with FFIE Parties in place from time to time in favor of any Director; (ii) pursuant to any directors’
and officers’ insurance policies maintained for the benefit of any Director by any Non-Director Released Party; (iii) any and all
claims against FFIE Parties for (A) accrued but unpaid director’s, officer’s or employee’s compensation, as well as
(B) unreimbursed expenses arising out of any Director being an officer, director or employee of FFIE or any subsidiaries or affiliates
thereof; (iv) pursuant to any stock option agreements or other compensatory equity awards; or (v) for accrued but unpaid director’s,
officer’s and employee’s compensation, salary, benefits, or other amounts owing by FFIE Parties to any Director, as well as
unreimbursed expenses, arising out of any Director’s being a director, employee, officer or manager of FFIE or any subsidiaries
or affiliates thereof.

 

5. FFGP Party
Releases. Effective upon the Effective Date, in exchange for good and valuable consideration, the adequacy of which is hereby
confirmed, each of the FFGP Parties, on its own behalf and on behalf of each of the FFGP Released Parties, hereby voluntarily,
intentionally, knowingly, absolutely, unconditionally and irrevocably releases, waives, remits, acquits and forever discharges and
covenants not to sue each of the FFIE Released Parties from and with respect to any and all Claims asserted or assertable by or on
behalf of any FFGP Released Party, which it now has, has ever had or may hereafter have, by reason of any actual or alleged act,
omission, transaction, practice, conduct, occurrence, cause, event or other matter whatsoever occurring at any time on or prior to
the Effective Date; provided, however, that the foregoing shall not release any claim or right arising in the ordinary course
of business pursuant to, or serve to terminate, any existing agreements among the Non-Director Parties hereto.

 

    4

     

    

 

6. FFIE
Party Releases. Effective upon the Effective Date, in exchange for good and valuable consideration, the adequacy of which is hereby
confirmed, each of the FFIE Parties, on its own behalf and on behalf of each of the FFIE Released Parties, hereby voluntarily, intentionally,
knowingly, absolutely, unconditionally and irrevocably releases, waives, remits, acquits and forever discharges and covenants not to sue
each of the FFGP Released Parties from and with respect to any and all Claims asserted or assertable by or on behalf of any FFIE Released
Party, which it now has, has ever had or may hereafter have, by reason of any actual or alleged act, omission, transaction, practice,
conduct, occurrence, cause, event or other matter whatsoever occurring at any time on or prior to the Effective Date; provided,
however, that the foregoing shall not release any claim or right arising in the ordinary course of business pursuant to, or serve to terminate,
any existing agreements among the Non-Director Parties hereto. Notwithstanding anything to the contrary herein, nothing in this Release
shall be effective to release any FFIE Released Party from any Claims, rights or entitlements that any FFGP Released Party may have now
or in the future, if any: (i) for indemnification or advancement or reimbursement of expenses granted by FFIE Parties to any FFGP Released
Party in his or her capacity as a director, employee or officer of FFIE or any subsidiaries or affiliates thereof or the terms of the
by-laws in place prior to the Effective Date of FFIE or any subsidiaries or affiliates thereof, and the applicable laws of the jurisdiction
of incorporation or organization of FFIE or any subsidiaries or affiliates thereof, as applicable, or any indemnity agreements with FFIE
Parties in place from time to time in favor of any FFGP Released Party; (ii) pursuant to any directors’ and officers’ insurance
policies maintained for the benefit of any FFGP Released Party by any FFIE Released Party; (iii) any and all claims against FFIE Parties
for (A) accrued but unpaid director’s, officer’s or employee’s compensation, as well as (B) unreimbursed expenses arising
out of any FFGP Released Party being an officer, director or employee of FFIE or any subsidiaries or affiliates thereof; (iv) pursuant
to any stock option agreements or other compensatory equity awards or (v) for accrued but unpaid director’s, officer’s and
employees’s compensation, salary, benefits, or other amounts owing by FFIE Parties to any FFGP Released Party, as well as unreimbursed
expenses, arising out of any FFGP Released Party being a director, employee, officer or manager of FFIE or any subsidiaries or affiliates
thereof. From and after the Effective Date, each FFIE Party hereby acknowledges and confirms, and covenants and agrees, that it shall:
(i) not take any action, or cause the applicable FFGP Released Party to take any action, to terminate, amend or restrict any indemnity
agreements in favor of any FFGP Released Party, in place prior to the Effective Date; and (ii) abide by, and not take any action, or cause
the applicable FFIE Released Party to take any action, to amend, change or modify in any manner whatsoever that may be adverse to any
FFGP Released Party, the rights to insurance existing in favor of any FFGP Released Party, in each case except where required by applicable
law.

 

7. Conditions to
Effectiveness. This Release, including, without limitation, the releases and related covenants not to sue hereof, shall become
effective upon satisfaction of the following conditions (the date on which such conditions are satisfied or waived by the Parties,
the “Effective Date”):

 

(a) each
Party shall have duly executed and delivered a signature page to this Agreement;

 

(b) each
party to the Heads of Agreement shall have duly executed and delivered a signature page thereto;

 

(c) Mr.
Adam He shall have been appointed to the board of directors of FFIE as set forth in Section 3 of Part D of the Heads of Agreement; provided
that, for the avoidance of doubt, this condition shall be satisfied in the event that the Board so resolves to appoint Mr. He but he declines
such appointment or is otherwise unwilling or unable to serve as a director of FFIE; and

 

    5

     

    

 

(d) FFIE
shall have paid all reasonable, actual and documented attorney’s fees and expenses (including any retainers) of each Director for
which an invoice has been received by FFIE on or before the date this Release has been executed by the Parties.

 

8. Section
1542. To the extent that, notwithstanding the New York choice of law provisions in this Release, California law is deemed to apply
to the release provisions set forth herein, each Party hereby expressly agrees that the release contemplated by this Release extends to
any and all rights granted under Section 1542 of the California Civil Code or any analogous state law or federal law or regulation are
hereby expressly waived. Section 1542 of the California Civil Code (“Section 1542”) reads as follows:

 

“A GENERAL RELEASE DOES NOT
EXTEND TO CLAIMS WHICH THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY.”

 

Each Party understands
that Section 1542, or a comparable statute, rule, regulation or order of another jurisdiction, gives such Party the right not to
release existing claims of which such Party is not aware, unless such Party voluntarily chooses to waive this right. Having been so
apprised, each Party nevertheless hereby voluntarily elects to and does waive the rights described in Section 1542, or such other
comparable statute, rule, regulation or order, and elects to assume all risks for claims that exist, existed or may hereafter exist
in its favor, known or unknown, suspected or unsuspected, arising out of or related to claims or other matters purported to be
released pursuant to this Release, in each case, effective upon the Effective Date. Each Party acknowledges and agrees that the
foregoing waiver is an essential and material term of the release by each Party and that, without such waiver, other parties hereto
would not have agreed to the terms of this Release. Each Party hereby represents to the applicable Parties that it understands and
acknowledges that it may hereafter discover facts and legal theories concerning such Parties and the subject matter hereof in
addition to or different from those which it now believes to be true. Each Party understands and hereby agrees that the release set
forth herein shall remain effective in all respects notwithstanding those additional or different facts and legal theories or the
discovery of those additional or different facts or legal theories. Each Party assumes the risk of any mistake of fact or applicable
law with regard to any potential claim or with regard to any of the facts that are now unknown to it relating thereto.

 

9. Covenant
Not to Sue. Each Party that has executed this Release hereby irrevocably covenants, effective upon the Effective Date, to refrain
from, directly or indirectly, asserting any Claim against any Director Released Party or Non-Director Released Party, as applicable, before
any governmental authority or other forum on the basis of any Claims released by such Director Released Party or Non-Director Released
Party, as applicable, by and through this Release. Nothing in this provision shall limit a Party’s right to enforce this agreement
or to obtain appropriate relief for a breach thereof.

 

10. Assignment
of Claims. Each Party that has executed this Release represents to the other Parties that it has not assigned or transferred or purported
to assign or transfer to any person or entity all or any part of, or any interest in, any Claim which is or which purports to be released
or discharged by this Release.

 

    6

     

    

 

11. Supplemental
Release. The Non-Director Parties acknowledge that each Director, may continue to perform his or her duties beyond the Effective Date
until the earlier of the time they are required to resign pursuant to the Heads of Agreement and the certification of votes at the 2022
AGM (as defined in the Heads of Agreement), and the Non-Director Parties agree and covenant, in consideration of the execution of this
Release, to execute a supplemental release, which shall be in form and substance substantially similar to this Agreement (the “Supplemental
Release”) concurrently with such Director’s resignation from all his/her positions as a director of FFIE and any subsidiaries
or affiliates thereof.

 

12. Representations
and Warranties. Each Non-Director Party that is not a natural person represents and warrants that: (i) such Non-Director Party has
the requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder and to consummate the
transactions contemplated hereby, (ii) the execution and delivery of this Release by such Non-Director Party (and its respective signatory
hereto) and the performance of such Non-Director Party’s obligations hereunder have been duly authorized by all necessary action
on such Non-Director Party’s part, and this Release has been duly executed and delivered by such Non-Director Party, (iii) this
Release constitutes the legal, valid, and binding obligation of such Non-Director Party enforceable in accordance with its terms and conditions,
except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors
generally and general principles of equity, (iv) there are no governmental or other third party consents, licenses and approvals required
in connection with the execution, delivery, performance, validity and enforceability of this Release, and (v) such Non-Director Party
is duly organized, validly existing and in good standing under the laws of the jurisdiction of its incorporation or formation.

 

13. Non-Disparagement.

 

(a) Each
Director agrees not to, and shall direct their present or former representatives or attorneys not to, defame or otherwise disparage any
Non- Director Released Parties. The Non-Director Parties agree not to, and shall direct their present or former partners, officers, directors,
shareholders, employees, representatives and attorneys not to, defame or otherwise disparage any Director Released Party.

 

(b) The
FFIE Parties agree not to, and shall direct their present or former partners, officers, directors, shareholders, employees, representatives
or attorneys not to, defame or otherwise disparage any FFGP Released Party. The FFGP Parties agree not to, and shall direct their present
or former partners, officers, directors, shareholders, employees, representatives and attorneys not to, defame or otherwise disparage
any FFIE Released Party.

 

(c) Nothing
in this Release shall limit or affect the ability of a Party (i) to testify truthfully in any civil or criminal investigation or proceeding
or (ii) to cooperate with any law enforcement or regulatory agency.

 

14. Expenses.
In the event that any Director Released Party or Non-Director Released Party should wrongfully bring any suit in violation of this Release
or be determined by a final order of a court of competent jurisdiction to have otherwise breached this agreement, such breaching Party
shall reimburse each non-breaching Party for all costs and expenses (including attorney’s fees) reasonably incurred in connection
therewith.

 

    7

     

    

 

15. Shareholder
Agreement. Each Director hereby irrevocably waives any and all rights (if any) he/she may have, now or in the future, under or in
connection with Section 2.1 of the Shareholder Agreement, to seek re-election, re-nomination or reappointment to the board of directors
of FFIE.

 

16. Entire
Agreement. This Release constitutes the entire agreement of the parties with respect to the releases set forth herein.

 

17. Use
of Legal Counsel and Construction of Agreement. Each of the parties hereto hereby acknowledges that it has been advised by its own
legal counsel in connection with the negotiation, drafting, execution and delivery and consummation of this Release (including, without
limitation, the release provisions hereof). The parties hereto agree and acknowledge that the normal rule of construction to the effect
that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Release or any
amendments, exhibits or schedules hereto. Each party hereto has entered into this Release freely and voluntarily, without coercion, duress,
distress or under influence by any other persons or its respective shareholders, directors, officers, partners, agents or employees.

 

18. Third-Party
Beneficiaries. Each Director Released Party and Non-Director Released Party that is not a direct signatory hereto is an express third-party
beneficiary of this Release and shall be entitled to enforce the terms of this Release as if such Director Released Party or Non-Director
Released Party were a direct signatory hereto.

 

19. Counterparts.
This Release may be executed in one or more counterparts, each of which shall be an original and all of which, when so executed, shall
constitute the same instrument, and the counterparts may be delivered by facsimile transmission or by electronic mail in portable document
format (.pdf). The parties hereto agree that this Release may be executed by way of electronic signature and agree that the electronic
signature has the same binding effect as a physical signature. For the avoidance of doubt, the parties hereto agree that this Release,
or any part thereof, shall not be denied legal effect, validity or enforceability on the ground that it is in the form of an electronic
record.

 

20. Amendments.
This Release may not be amended or modified, or any provision herein waived, without the prior written consent of each party that has
executed this Release; provided that no such amendment or modification shall limit the rights of a Director Released Party or Non-Director
Released Party without such Director Released Party’s or Non-Director Released Party’s prior written consent. No waiver of
any of the provisions of this Release shall be deemed or shall constitute a waiver of any other provision hereof or thereof (whether or
not similar), nor shall such waiver constitute a continuing waiver unless otherwise expressly provided in writing.

 

21. Invalidity.
If any provision of this Release is held to be illegal, invalid or unenforceable under present or future laws effective during the term
thereof, such provision shall be fully severable, this Release shall be construed and enforced as if such illegal, invalid or unenforceable
provision had never comprised a part thereof, and the remaining provisions thereof shall remain in full force and effect and shall not
be affected by the illegal, invalid, or unenforceable provision or by its severance therefrom. Furthermore, in lieu of such illegal, invalid,
or unenforceable provision there shall be added automatically as a part of this Release a provision as similar in terms to such illegal,
invalid, or unenforceable provision as may be possible and be legal, valid and enforceable.

 

22. Governing
Law and Forum Selection. The provisions in the Heads of Agreement that relate to choice of law and forum selection are incorporated
herein and shall apply with equal force and effect to this Release.

 

[Remainder of This Page Intentionally
Left Blank]

 

    8

     

    

 

IN WITNESS WHEREOF, the parties hereto
have caused their duly authorized officers to execute and deliver this Release as of the date first written above.

 

	 	FF GLOBAL PARTNERS LLC
	 	 
	 	By:	/s/ Jiawei Wang
	 	 	Name:  	Jiawei Wang
	 	 	Tittle: 	President

 

[Signature Page to Mutual Release]

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto
have caused their duly authorized officers to execute and deliver this Release as of the date first written above.

 

	 	FF TOP HOLDING LLC
	 	 
	 	By:	FF Peak Holding LLC, its sole member
	 	 
	 	By:	Pacific Technology Holding LLC, its managing member
	 	 
	 	By:	FF Global Partners LLC, its managing member
	 	 
	 	By:	/s/ Jiawei Wang
	 	 	Name:	Jiawei Wang 
	 	 	Title:	President
	 	 
	 	FF PEAK HOLDING LLC
	 	 
	 	By:	Pacific Technology Holding LLC, its managing member
	 	 
	 	By:	FF Global Partners LLC, its managing member
	 	 
	 	By:	/s/ Jiawei Wang
	 	 	Name:	Jiawei Wang 
	 	 	Title:	President
	 	 
	 	PACIFIC TECHNOLOGY HOLDING, LLC
	 	 
	 	By:	FF Global Partners LLC, its managing member
	 	 
	 	By:	/s/ Jiawei Wang
	 	 	Name:	Jiawei Wang 
	 	 	Title:	President

 

[Signature Page to Mutual Release]

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto
have caused their duly authorized officers to execute and deliver this Release as of the date first written above.

 

	 	By:	/s/ Chaoying Deng
	 		Name:   	Chaoying Deng

 

[Signature Page to Mutual Release]

 

     

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute and deliver this Release as of the date first
written above.

 

	 	By:	/s/ Prashant Gulati
	 	 	Name:  	Prashant Gulati

 

[Signature Page to Mutual Release]

 

     

     

    

 

 

IN WITNESS WHEREOF, the parties hereto
have caused their duly authorized officers to execute and deliver this Release as of the date first written above.

 

	 	By:	/s/  Yueting Jia
	 		Name: 	Yueting Jia

 

[Signature Page to Mutual Release]

 

     

     

    

 

 

IN WITNESS WHEREOF, the parties hereto
have caused their duly authorized officers to execute and deliver this Release as of the date first written above.

 

	 	By:	/s/   Chui Tin Mok
	 		Name:   	Chui Tin Mok

 

[Signature Page to Mutual Release]

 

     

     

    

 

 

IN WITNESS WHEREOF, the
parties hereto have caused their duly authorized officers to execute and deliver this Release as of the date first written above.

 

	 	By:	/s/   Jiawei Wang
	 		Name:  	Jiawei Wang

 

[Signature Page to Mutual Release]

 

     

     

    

 

 

IN WITNESS WHEREOF, the parties hereto
have caused their duly authorized officers to execute and deliver this Release as of the date first written above.

 

	 	FARADAY FUTURE INTELLIGENT ELECTRIC INC.
	 	 	 
	 	By:	/s/   Carsten Breitfeld
	 	Name:   	  Carsten Breitfeld
	 	Title:	 Chief Executive Officer

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	SMART TECHNOLOGY HOLDINGS LTD.
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	Carsten Breitfeld 
	 	Title:	Authorized Officer
	 	 
	 	FF HONG KONG HOLDING LIMITED
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	Carsten Breitfeld
	 	Title:	Authorized Officer
	 	 
	 	FF INC.
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	Carsten Breitfeld
	 	Title:	Authorized Officer
	 	 
	 	FARADAY&FUTURE INC.
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	Carsten Breitfeld
	 	Title:	Authorized Officer
	 	 
	 	FF MANUFACTURING LLC
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	Carsten Breitfeld
	 	Title:	Authorized Officer

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	FARADAY SPE, LLC
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	Carsten Breitfeld
	 	Title:	Authorized Officer
	 	 
	 	EAGLE PROP HOLDCO LLC
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name: 	Carsten Breitfeld
	 	Title:	Authorized Officer
	 	 
	 	FF SALES AMERICAS, LLC
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	Carsten Breitfeld
	 	Title:	Authorized Officer
	 	 
	 	FF EQUIPMENT LLC
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	 Carsten Breitfeld
	 	Title:	Authorized Officer
	 	 
	 	FF ECO SALES COMPANY, LLC
	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	Carsten Breitfeld
	 	Title:	Authorized Officer

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	FF EUROPE GMBH
	 	 	 
	 	By:	/s/ Susan Swenson 
	 	Name:	 Susan Swenson 
	 	Title:	 Authorized Officer
	 	 	 
	 	ARADAY & FUTURE NETHERLANDS B.V.
	 	 	 
	 	By:	/s/ Susan Swenson 
	 	Name:  	Susan Swenson
	 	Title:	 Authorized Officer
	 	 	 
	 	FA&FA INC.
	 	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:	Carsten Breitfeld
	 	Title: 	Authorized Signatory
	 	 	 
	 	FF INTELLIGENT MOBILITY GLOBAL HOLDINGS LTD.
	 	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:  	Carsten Breitfeld
	 	Title: 	Authorized Signatory

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	FF AUTOMOTIVE (CHINA) CO., 

LTD. LESEE AUTO TECHNOLOGY (BEIJING) CO., LTD.

LESEE AUTOMOTIVE (BEIJING) CO.,

LTD. RUIYU AUTOMOTIVE (BEIJING) CO., LTD. 

SHANGHAI FARAN AUTOMOTIVE TECHNOLOGY CO., LTD. 

FF AUTOMOTIVE (ZHEJIANG) CO., LTD. 

LETV NEW ENERGY AUTOMATIC TECHNOLOGY (DEQING) CO., LTD. LEAUTOLINK INTELLIGENT TECHNOLOGY (BEIJING) CO., LTD. 

LESEE AUTO TECHNOLOGY (BEIJING) CO., LTD. 

LESHARE INTERNET TECHNOLOGY (BEIJING) CO., LTD. 

DEQING LESHARE AUTO RENTAL CO. LTD. 

FARADAY & FUTURE AUTO TECHNOLOGY (SHANGHAI) CO., LTD.

 LESEE HONG KONG HOLDINGS LIMITED

 LESEE AUTOMOTIVE (ZHEJIANG) CO., LTD.
	 	 
	 	 	By: FARADAY FUTURE INTELLIGENT ELECTRIC INC.,
	 	 	its ultimate parent
	 	 	 	 
	 	 	By:	/s/ Carsten Breitfeld
	 	 	Name: 	Carsten Breitfeld
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	SMART TECHNOLOGY HOLDINGS LTD.
	 	 	 
	 	By:	/s/ Carsten Breitfeld
	 	Name:  	Carsten Breitfeld
	 	Title:	Authorized Signatory

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	By:	/s/ Matthias Aydt
	 	 	Name: 	Matthias Aydt

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	By:	/s/ Carsten Breitfeld
	 	 	Name: 	Carsten Breitfeld

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	By:	/s/ Edwin Goh
	 	 	Name: 	Edwin Goh

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	By:	/s/ Brian Krolicki
	 	 	Name: 	Brian Krolicki

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	By:	/s/ Qing Ye
	 	 	Name: 	Qing Ye

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	By:	/s/ Lee Liu
	 	 	Name: 	Lee Liu

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	By:	/s/ Jordan Vogel
	 	 	Name: 	Jordan Vogel

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	By:	/s/ Scott Vogel
	 	 	Name: 	Scott Vogel

 

[Signature Page to Mutual Release]

 

     

     

    

 

	 	By:	/s/ Susan Swenson
	 	 	Name: 	Susan Swenson

 

[Signature Page to Mutual Release]

 

     

     

    

 

Schedule 1

 

FFGP Controlled Affiliates

 

		1.	FF Top Holding LLC

 

		2.	FF Peak Holding LLC

 

		3.	Pacific Technology Holding LLC

 

     

     

    

 

Schedule 2

 

Executive Committee Members

 

		1.	Chaoying Deng

 

		2.	Prashant Gulati

 

		3.	YT Jia

 

		4.	Tin Mok

 

		5.	Jiawei Wang

 

     

     

    

 

Schedule 3

 

FFIE Controlled Affiliates
 

 

		1.	FF Intelligent Mobility Global Holdings Ltd.

		2.	Smart Technology Holdings Ltd.

		3.	FF Hong Kong Holding Limited

		4.	FF Inc.

		5.	Faraday&Future Inc.

		6.	FF Manufacturing LLC

		7.	Faraday SPE, LLC

		8.	Eagle Prop Holdco LLC

		9.	FF Sales Americas, LLC

		10.	FF Equipment LLC

		11.	FF ECO Sales Company, LLC

		12.	FF Europe GmbH

		13.	Faraday & Future Netherlands B.V.

		16.	Fa&Fa Inc.

		17.	FF Automotive (China) Co., Ltd.

		18.	LeSEE Auto Technology (Beijing) Co., Ltd.

		19.	LeSEE Automotive (Beijing) Co., Ltd.

		20.	Ruiyu Automotive (Beijing) Co., Ltd.

		21.	Shanghai Faran Automotive Technology Co., Ltd.

		22.	FF Automotive (Zhejiang) Co., Ltd.

		23.	Letv New Energy Automatic Technology (Deqing) Co., LTD

		24.	LeAutolink Intelligent Technology (Beijing) Co., Ltd.

		25.	LeSEE Auto Technology (Beijing) Co., Ltd.

		26.	LeShare Internet Technology (Beijing) Co. Ltd.

		27.	Deqing LeShare Auto Rental Co. LTD

		28.	Faraday & Future Auto Technology (Shanghai) Co., Ltd.

		29.	LeSEE Hong Kong Holdings Limited

		30.	LeSEE Automotive (Zhejiang) Co., Ltd.

 

     

     

    

 

Schedule
4

 

FFIE Directors

 

		1.	Mathias Aydt

 

		2.	Carsten Breitfeld

 

		3.	Edwin Goh

 

		4.	Brian Krolicki

 

		5.	Lee Liu

 

		6.	Susan G. Swenson

 

		7.	Jordan Vogel

 

		8.	Scott Vogel

 

		9.	Qing Ye

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