Document:

Exhibit
10.2

 

[    ],
2022

 

Feutune
Light Acquisition Corporation

48
Bridge Street, Building A

Metuchen,
New Jersey 08840

 

Re:
Initial Public Offering

 

Ladies
and Gentlemen:

 

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

 

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

 

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

 

     

     

    

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

    5

     

    

 

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

  

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

 

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

 

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

 

16.
This Letter Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all
purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

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17.
This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect
the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Letter Agreement a provision
as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

18.
This Letter Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction. The parties
hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating in any way to, this Letter Agreement shall
be brought and enforced in the courts of New York City, in the State of New York, and irrevocably submit to such jurisdiction and venue,
which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive jurisdiction and venue or that such courts
represent an inconvenient forum.

 

19.
Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter Agreement shall be in writing
and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by hand delivery
or facsimile transmission.

 

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

 

[Signature
page follows]

 

    7

     

    

  

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

 

[Signature
Page to the Insider Letter Agreement-Company]

 

    8

     

    

 

	FEUTUNE LIGHT SPONSOR LLC	US TIGER SECURITIES, INC.
	 	 	 
	By:	 	 	By:	 
	Name: 	Ka Wai Cheung	 	Name:
	Title:   	Manager	 	Title:

 

	Ka
Wai Cheung
	 	Xuedong (Tony) Tian
	(Chairman)	 	(Chief
    Executive Officer)
	 	 	 
	 	 	 
	 	 	 
	 

    Lei
    Xu
	 	Yuanmei
    Ma
	(President
    & Director)	 	(Chief
    Financial Officer)
	 	 	 
	 	 	 
	 	 	 
	Kevin
    Vassily
	 	David
    Ping Li
	(Independent
    Director)	 	(Independent
    Director)
	 	 	 
	 	 	 
	 	 	 
	Michael
    Davidov
	 	 
	(Independent
    Director)	 
	 	 
	 	 

 

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

 

 

9Exhibit 10.3

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Agreement is made as
of [____], 2022 by and between Feutune Light Acquisition Corporation (the “Company”) and Continental Stock Transfer
& Trust Company, as trustee (“Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, No. 333-264221 (“Registration Statement”) for its 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 $0.0001 per share (the “Class A Common Stock”), one warrant, each warrant entitling
the holder to purchase one share of Class A Common Stock (the “Warrants”) and one right, each right entitling
the holder to receive one-tenth (1/10) of one share of Class A Common Stock (the “Rights”), (such initial public
offering hereinafter referred to as the “IPO”) has been declared effective as of the date hereof (“Effective
Date”) by the Securities and Exchange Commission (capitalized terms used herein and not otherwise defined shall have the
meanings set forth in the Registration Statement); and

 

WHEREAS, US Tiger Securities,
Inc. (“US Tiger”) and EF Hutton Group, division of Benchmark Investments, LLC (“EF Hutton”,
together with US Tiger, the “Representatives”) are acting as the representatives of several underwriters in
the IPO; and

 

WHEREAS, if a Business Combination
is not consummated within the initial 9 month period following the closing of the IPO, the Company’s insiders may extend such period
by three three-months periods, up to a maximum of 18 months in the aggregate, by depositing $850,000 (or $977,500 if the Underwriters’
over-allotment option is exercised in full) into the Trust Account (as defined below) no later than the 9 month anniversary of the IPO,
or the 12 month anniversary of the IPO, or the 15 month anniversary of the IPO (each, an “Applicable Deadline”),
as applicable, for each three-month extension (each, an “Extension”), in exchange for which they will receive
promissory notes; and

 

WHEREAS, as described in the
Registration Statement, and in accordance with the Company’s Amended and Restated Certificate of Incorporation, $86,275,000 of the
gross proceeds of the IPO and the net proceeds of a private placement taking place simultaneously therewith ($99,916,250 if the over-allotment
option is exercised in full), plus any amount eventually deposited on account of any Extension, will be delivered to the Trustee to be
deposited and held in the Trust Account for the benefit of the Company and the holders of the Company’s Class A Common Stock, issued
in the IPO as hereinafter provided (the proceeds to be delivered to the Trustee, including the proceeds from any loans in connection with
an Extension, if any, will be referred to herein as the “Property”; the shareholders for whose benefit the Trustee
shall hold the Property will be referred to as the “Public Shareholders,” and the Public Shareholders and the Company will
be referred to together as the “Beneficiaries”); and

 

WHEREAS, pursuant to the Underwriting
Agreement, a portion of the Property equal to $2,975,000, or $3,421, 250 if the Underwriters’ over-allotment option is exercised in full,
is attributable to deferred underwriting discounts and commissions that will be payable by the Company to the Underwriters upon and concurrently
with the consummation of the Business Combination (as defined below) (the “Deferred Discount”); 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.

 

     

     

    

 

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 a segregated trust account (“Trust Account”)
established by the Trustee at [_____] in the United States, maintained by Trustee, and at a brokerage institution selected by the Trustee
that is reasonably satisfactory to the Company;

 

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

 

(c) In a timely manner, upon
the instruction of the Company, invest and reinvest the Property (i) in United States government treasury bills, notes or bonds having
a maturity of 180 days or less and/or (ii) in money market funds meeting certain conditions under Rule 2a-7 promulgated under the Investment
Company Act of 1940, as amended, and that invest solely in U.S. treasuries, as determined by the Company;

 

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

 

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

 

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

 

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

 

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

 

(i) Commence liquidation of
the Trust Account only after and promptly after receipt of, and only in accordance with, the terms of a letter (“Termination
Letter”), in a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, signed on behalf of
the Company by its President, Chief Executive Officer or Chairman of the Board and Secretary or Assistant Secretary and, in the case of
a Termination Letter in a form substantially similar to that attached hereto as Exhibit A, acknowledged and agreed to by the Representatives,
and complete the liquidation of the Trust Account and distribute the Property in the Trust Account only as directed in the Termination
Letter and the other documents referred to therein; provided, however, that in the event that a Termination Letter has not been received
by the Trustee by the 9-month anniversary of the closing of the IPO (“Closing”) or, in the event that the Company
extended the time to complete the Business Combination for up to 18-months from the closing of the IPO but has not completed the Business
Combination within the applicable monthly anniversary of the Closing, (“Last Date”), the Trust Account shall
be liquidated in accordance with the procedures set forth in the Termination Letter attached as Exhibit B hereto and distributed
to the Public Shareholders as of the Last Date.

 

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

 

    2

     

    

 

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

 

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

 

(m) Promptly acknowledge and
comply with any irrevocable instruction letter delivered in the form of Exhibit E delivered by the Company in connection with the
disbursement of funds to a Public Shareholder.

 

(n) Promptly acknowledge,
in writing to any redeeming Public Shareholder and the Company, any irrevocable instruction letter in the form of Exhibit F delivered
by such redeeming Public Shareholder after the announcement by the Company of a proposed Business Combination and promptly comply with
any irrevocable written instruction letter in the form of Exhibit F delivered by such Public Shareholder in connection with the disbursement
of funds to such Public Shareholder if the Company has not notified the Trustee in writing during the Objection Period that such irrevocable
written instruction letter is a Non-Compliant Instruction Letter (as defined below).

 

2. Limited Distributions of
Income from Trust Account.

 

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

 

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

 

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

 

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

 

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

 

    3

     

    

 

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

 

(c) Pay the Trustee an initial
acceptance fee, an annual fee and a transaction processing fee for each disbursement made pursuant to Sections 2(a) and 2(b) as set forth
on Schedule A hereto, which fees shall be subject to modification by the parties from time to time. It is expressly understood that the
Property shall not be used to pay such fees and further agreed that any fees owed to the Trustee shall be deducted by the Trustee from
the disbursements made to the Company pursuant to Sections 1(i) solely in connection with the consummation of a Business Combination,
or pursuant to Section 2(b). The Company shall pay the Trustee the initial acceptance fee and first year’s fee at the consummation
of the IPO and thereafter on the anniversary of the Effective Date;

 

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

 

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

 

(f) Upon receiving the written
request of a Public Shareholder to do so at any time after the date hereof, provide such Public Shareholder with a copy of any instruction
provided to the Trustee pursuant to Section 1(i) or Section 1(j) along with any Notification (as defined in Exhibit A), Instruction Letter
(as defined in Exhibit A), applicable flow of funds memorandum (or similar document), or any other notice delivered to the Trustee by
the Company regarding the disbursement of Property from the Trust Account resulting in the Property left in the Trust Account being less
than $86,275,000 (or $99,216,250 if the Underwriters’ over-allotment option is exercised in full) plus any amount eventually deposited
on account of any Extension, which, in each case, shall specify to whom the Property shall be disbursed (such written notice, a “Disbursement
Notice” and the date such Public Shareholder receives a Disbursement Notice, a “Disbursement Notice Date”).
Each Disbursement Notice shall be delivered to such Public Shareholder at least two business days prior to the disbursement of any Property
pursuant to Section 1(i) or Section 1(j) and no Property shall be disbursed from the Trust Account prior to the date that is two business
days from the applicable Disbursement Notice Date.

 

    4

     

    

 

(g) At the request of any
Public Shareholder who has removed shares from street name and holds such shares either in certificated or book-entry form and, except
if such shares are held in book-entry form, delivered such certificated shares to the Trustee for purposes of redemption in connection
with a Business Combination, concurrently with the delivery of such shares, solely if such shares are certificated. to the Trustee, send
an irrevocable written instruction letter in the form of Exhibit E to the Trustee directing the Trustee to disburse no less than $10.15
per share (plus the amount per share deposited in the Trust Account pursuant to any Extension Letter) to such Public Shareholder.

 

(h) Following receipt of a
copy of an irrevocable written instruction letter in the form of Exhibit F delivered by a Public Shareholder who has removed shares
from street name and holds such shares either in certificated or book-entry form and, except if such shares are held in book-entry form,
delivered such certificated shares to the Trustee for purposes of redemption in connection with a Business Combination to the Trustee,
review such letter to confirm (i) such letter is in the form of Exhibit F, (ii) a Business Combination has been announced on or
prior to the date of such letter and (iii) the number of shares of Common Stock set forth on such letter to be redeemed is not greater
than the number of shares of Common Stock held by the applicable Public Shareholder. Solely if the Company cannot confirm the requirements
of clauses (i) through (iii) of this Section 3(h), but not for any other reason, then within two days of the Company’s receipt of
the applicable copy of the irrevocable written instruction letter in the form of Exhibit F (such time period, the “Objection
Period”), the Company will notify the applicable Public Shareholder and the Trustee in writing that such irrevocable written
instruction letter is a “Non-Compliant Instruction Letter” and that the Trustee shall not comply with such letter.

 

(i). If applicable, the Company
shall issue a press release at least three days prior to the Applicable Deadline announcing that, at least five days prior to the Applicable
Deadline, the Company received notice from the Company’s insiders that the insiders intend to extend the Applicable Deadline;

 

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

 

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

 

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

 

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

 

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

 

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

 

    5

     

    

 

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

 

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

 

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

 

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

 

(i) Pay any taxes on behalf
of the Trust Account (it being expressly understood that the Property shall not be used to pay any such taxes and that such taxes, if
any, shall be paid by the Company from funds not held in the Trust Account or released to it under Section 2(a) hereof);

 

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

 

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

 

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

 

6. Termination. This Agreement
shall terminate as follows:

 

(a) If the Trustee gives written
notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable efforts to locate a successor
trustee during which time the Trustee shall act in accordance with this Agreement. At such time that the Company notifies the Trustee
that a successor trustee has been appointed by the Company and has agreed to become subject to the terms of this Agreement, the Trustee
shall transfer the management of the Trust Account to the successor trustee, including but not limited to the transfer of copies of the
reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided, however, that, in the event
that the Company does not locate a successor trustee within ninety 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

 

    6

     

    

 

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

 

7. Miscellaneous.

 

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

 

(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. It may be executed in several original
or facsimile counterparts, each one of which shall constitute an original, and together shall constitute but one instrument.

 

(c) This Agreement contains
the entire agreement and understanding of the parties hereto with respect to the subject matter hereof. Except for Sections 1(i), 1(m),
1(n), 1(o), 1(p), 3(g), 3(h) 7(c) and 7(h) (which may only be amended with the approval of the holders of at least 50% of the shares of
Common Stock sold in the IPO, provided that all Public Shareholders must be given the right to receive a pro-rata portion of the trust
account (no less than $10.10 per share plus the amount per share deposited in the Trust Account pursuant to any Extension Letter) in connection
with any such amendment), this Agreement or any provision hereof may only be changed, amended or modified by a writing signed by each
of the parties hereto; provided, however, that no such change, amendment or modification may be made without the prior written consent
of the Representatives. As to any claim, cross-claim or counterclaim in any way relating to this Agreement, each party waives the right
to trial by jury. The Trustee may require from Company counsel an opinion as to the propriety of any proposed amendment.

 

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

 

    7

     

    

 

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

 

if to the Trustee, to:

 

Continental Stock Transfer & Trust
Company

1 State Street, 30th Floor

New York, NY 10004

Attn: [_____]

Email: [_____]

Email: [_____]

 

if to the Company, to:

 

Feutune Light Acquisition Corporation

48 Bridge Street, Building A

Metuchen, New Jersey 08840

Attn: Yuanmei Ma, Chief Financial Officer

 

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

 

US Tiger Securities, Inc.

437 Madison Avenue, 27th Floor

New York, NY 10022 Attn: [_____]

 

and

 

EF Hutton Group,

division of Benchmark Investments, LLC

590 Madison Avenue, 39th Floor

New York, NY 10022

 

and

 

Robinson & Cole LLP

666 Third Avenue, 20th Floor

New York, NY 10017

Attn: Arila E. Zhou, Esq.

 

and

 

Winston & Strawn LLP

800 Capitol St., Suite 2400

Houston, TX 77002

Attn: Michael Blankenship

 

(f) This Agreement may not
be assigned by the Trustee without the prior consent of the Company.

 

(g) Each of the Trustee and
the Company hereby represents that it has the full right and power and has been duly authorized to enter into this Agreement and to perform
its respective obligations as contemplated hereunder.

 

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

 

[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:  	[XX]
	 	 	Title: 	[XX]
	 	 	 	 
	 	 
	 	FEUTUNE LIGHT ACQUISITION CORPORATION 
	 	 
	 	By:	 
	 	 	Name:  	Yuanmei Ma
	 	 	Title: 	Chief Financial Officer

 

[signature page to Investment Management Trust
Agreement – Feutune Light Acquisition Corporation]

 

    9

     

    

 

SCHEDULE A

 

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

 

    10

     

    

 

EXHIBIT A

 

[Letterhead of Company]

[Insert date]

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: [XX]

 

	 	Re:	Trust Account No. [_____________] - Termination Letter

 

Gentlemen:

 

Pursuant to paragraph 1(i)
of the Investment Management Trust Agreement between Feutune Light Acquisition Corporation (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”),
this is to advise you that the Company has entered into an agreement with [__________________] (“Target Business”)
to consummate a business combination with Target Business (“Business Combination”) on or about [insert date].
The Company shall notify you at least 48 hours in advance of the actual date of the consummation of the Business Combination (“Consummation
Date”). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate the Trust Account investments on [__________] and to transfer the proceeds
to the above-referenced account at [XX] to the effect that, on the Consummation Date, all of funds held in the Trust Account will be immediately
available for transfer to the account or accounts that the Company shall direct on the Consummation Date. 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, and (ii) the Company
shall deliver to you (a) [an affidavit] [a certificate] of [__________________], which verifies the vote of the Company’s shareholders
in connection with the Business Combination if a vote is held and (b) joint written instructions from the Company and Maxim Group LLC
with respect to the transfer of the funds held in the Trust Account, which must provide for the disbursement of no less than $10.15 per
share plus the amount per share deposited in the Trust Account per Extension Letter to redeeming Public Shareholders (“Instruction
Letter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt
of the counsel’s letter and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain
deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company of the
same and the Company shall direct you as to whether such funds should remain in the Trust Account and distributed after the Consummation
Date to the Company. Upon the distribution of all the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement shall
be terminated.

 

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

 

    11

     

    

 

	 	Very truly yours,
	 	 	 
	 	FEUTUNE LIGHT ACQUISITION CORPORATION 
	 	 	 
	 	By:	 
	 	Name:  	 
	 	Title:	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title: 	Secretary/Assistant Secretary

 

	Acknowledged and Agreed:	 
	 	 	 
	US Tiger Securities, Inc.	 
	 	 	 
	By:	                  	 
	Name:  	 	 
	Title:	 	 

 

	
    EF Hutton Group,

    division of Benchmark Investments, LLC
	 
	 	 	 
	By:	              	 
	Name:  	 	 
	Title:	 	 

 

    12

     

    

 

EXHIBIT B

 

[Letterhead of Company]

[Insert date]

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: [XX]

 

	 	Re:	Trust Account No. [______________] - Termination Letter

 

Gentlemen:

 

Pursuant to paragraph 1(i)
of the Investment Management Trust Agreement between Feutune Light Acquisition Corporation (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”), this
is to advise you that the Company has been unable to effect a Business Combination with a Target Company within the time frame specified
in the Company’s Amended and Restated Certificate of Incorporation, as described in the Company’s prospectus relating to its
IPO. Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Trust Agreement.

 

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

 

	 	Very truly yours,
	 	 	 
	 	FEUTUNE LIGHT ACQUISITION CORPORATION
	 	 	 
	 	By:	 
	 	Name:  	 
	 	Title:	 
	 	 	 
	 	By:	 
	 	Name:	 
	 	Title: 	Secretary/Assistant Secretary

 

cc:

	US Tiger Securities, Inc.	 
	 	 
	
    EF Hutton Group,

    division of Benchmark Investments, LLC
	 

 

    13

     

    

 

EXHIBIT C

 

[Letterhead of Company]

[Insert date]

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: [XX]

 

	 	Re:	Trust Account No. [___________]

 

Gentlemen:

 

Pursuant to paragraph 2(a)
of the Investment Management Trust Agreement between Feutune Light Acquisition Corporation (“Company”) and Continental
Stock Transfer & Trust Company (“Trustee”), dated as of [*], 2022 (“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.
The Company needs such funds to pay for its tax obligations. In accordance with the terms of the Trust Agreement, you are hereby directed
and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account
at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	FEUTUNE LIGHT ACQUISITION CORPORATION
	 	 	 
	 	By:	           
	 	Name:  	 
	 	Title:	 

 

cc:

	US Tiger Securities, Inc.	 
	 	 
	
    EF Hutton Group,

    division of Benchmark Investments, LLC
	 

 

    14

     

    

 

EXHIBIT D

 

[Letterhead of Company]

[Insert date]

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: [XX]

 

	 	Re:	Trust Account No. [______________] Extension Letter

 

Gentlemen:

 

Pursuant to Section 1(l) of
the Investment Management Trust Agreement between Feutune Light Acquisition Corporation (“Company”) and Continental
Stock Transfer & Trust Company, dated as of [*], 2022 (“Trust Agreement”), this is to advise you that the
Company is extending the time available in order to consummate a Business Combination with the Target Businesses for an additional three
(3) months, from _______ to ________ (the “Extension”).

 

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

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to deposit $850,000 [(or $977,500 if the underwriters’ over-allotment option was
exercised in full)], which will be wired to you, into the Trust Account investments upon receipt.

 

This is the ____ of up to
three Extension Letters.

 

	 	Very truly yours,
	 	 	 
	 	FEUTUNE LIGHT ACQUISITION CORPORATION
	 	 	 
	 	By:	            
	 	Name:   	 
	 	Title:	 

 

cc:

	US Tiger Securities, Inc.	 
	 	 
	 	 
	
    EF Hutton Group,

    division of Benchmark Investments, LLC
	 

 

    15

     

    

 

EXHIBIT E

 

[Letterhead of Company]

[Insert date]

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: [XX]

 

	 	Re:	Trust Account No. [______________] - Irrevocable Instruction in Connection with Business Combination

 

Gentlemen:

 

Pursuant to paragraphs 1(m)
and 3(g) of the Investment Management Trust Agreement between Feutune Light Acquisition Corporation (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”),
this constitutes our irrevocable instruction to you to (i) in conjunction with the Business Combination (as defined in the Trust Agreement),
disburse a per share amount of $______, for a total disbursement of $__________________which is not less than $10.15 (plus the amount
per share deposited in the Trust Account pursuant to any Extension Letter) to ________________ (the “Shareholder”)
for the _____________________ shares of Class A Common Stock of the Company delivered to you prior to or concurrently herewith for redemption
in connection with the Business Combination, and (ii) deliver to the Shareholder the amounts specified in clause (i) prior to delivering
and amounts to the Depository Trust Company, the Company, or any person from whom you have not received an irrevocable instruction substantially
similar to this one. The Shareholder wire instructions are attached. A share advice or DWAC instruction from our broker is also attached.

 

The Company shall indemnify
you and your officers, directors, principals, partners, agents and representatives, and hold each of them harmless from and against any
and all loss, liability, damage, claim or expense (including the reasonable fees and disbursements of its attorneys) incurred by or asserted
against you or any of them arising out of or in connection with the instructions set forth herein, the performance of your duties hereunder
and otherwise in respect hereof, including the costs and expenses of defending yourself or themselves against any claim or liability hereunder,
except that the Company shall not be liable hereunder as to matters in respect of which it is determined that you have acted with gross
negligence or in bad faith. You shall have no liability to the Company in respect to any action taken or any failure to act in respect
of this if such action was taken or omitted to be taken in good faith, and you shall be entitled to rely in this regard on the advice
of counsel.

 

The Board of Directors of
the Company has approved the foregoing irrevocable instructions and does hereby extend the Company’s irrevocable agreement to indemnify
your firm for all loss, liability or expense in carrying out the authority and direction herein contained on the terms herein set forth.

 

The Shareholder is intended
to be and is a third party beneficiary of this letter and the irrevocable instructions set forth herein, and no amendment or modification
to the instructions set forth herein may be made without the prior written consent of the Shareholder.

 

By signing below, the person
executing this letter certifies that they are duly authorized to execute this letter on behalf of the Company and to bind the Company
to all of the terms and conditions contained herein.

 

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[remainder of page intentionally left blank]

 

[signature page follows]

 

    17

     

    

 

	 	Very truly yours,
	 	 	 
	 	FEUTUNE LIGHT ACQUISITION CORPORATION
	 	 	 
	 	By:	            
	 	Name:   	 
	 	Title: 	 

 

	Acknowledged and Agreed:	 
	 	 	 
	CONTINENTAL STOCK TRANSFER & 

TRUST COMPANY, as Trustee	 
	 	 
	 	 	 
	Name:   	              	 
	Title:	 	 

Cc: [SHAREHOLDER].

 

Attachments:

Shareholder Wire Instructions

Share advice or instruction

 

[signature page to Investment Management Trust
Agreement-Exhibit E-Feutune Light Acquisition Corporation]

 

    18

     

    

 

EXHIBIT F

 

[Insert date]

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: [XX]

 

	 	Re:	Trust Account No. [______________] - Irrevocable Instruction in Connection with Business Combination

 

Gentlemen:

 

Pursuant to paragraphs 1(n)
and 3(h) of the Investment Management Trust Agreement between Feutune Light Acquisition Corporation (“Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [*], 2022 (“Trust Agreement”),
this constitutes our irrevocable instruction to you to (i) in conjunction with the Business Combination (as defined in the Trust Agreement),
disburse a per share amount of $______, for a total disbursement of $_________________which is not less than $10.15 (plus the amount per
share deposited in the Trust Account pursuant to any Extension Letter) per share to ________________ (the “Shareholder”)
for the _____________________ shares of Class A Common Stock of the Company delivered to you prior to or concurrently herewith for redemption
in connection with the Business Combination, and (ii) deliver to the Shareholder the amounts specified in clause (i) prior to delivering
and amounts to the Depository Trust Company, the Company, or any person from whom you have not received an irrevocable instruction substantially
similar to this one. Our wire instructions are attached. We understand that a servicing fee of $250.00 will deducted from our payment.
A share advice or DWAC instruction from our broker is attached.

 

The Company shall indemnify
you and your officers, directors, principals, partners, agents and representatives, and hold each of them harmless from and against any
and all loss, liability, damage, claim or expense (including the reasonable fees and disbursements of its attorneys) incurred by or asserted
against you or any of them arising out of or in connection with the instructions set forth herein, the performance of your duties hereunder
and otherwise in respect hereof, including the costs and expenses of defending yourself or themselves against any claim or liability hereunder,
except that the Company shall not be liable hereunder as to matters in respect of which it is determined that you have acted with gross
negligence or in bad faith. You shall have no liability to the Company in respect to any action taken or any failure to act in respect
of this if such action was taken or omitted to be taken in good faith, and you shall be entitled to rely in this regard on the advice
of counsel.

 

The Board of Directors of
the Company does hereby extend the Company’s irrevocable agreement to indemnify your firm for all loss, liability or expense in
carrying out the authority and direction herein contained on the terms herein set forth.

 

No amendment or modification
to the instructions set forth herein may be made without the prior written consent of the Shareholder.

 

By signing below, the person
executing this letter certifies that they are duly authorized to execute this letter on behalf of the Shareholder and to bind the Shareholder
to all of the terms and conditions contained herein.

 

    19

     

    

 

	 	Very truly yours,
	 	 	 
	 	[SHAREHOLDER]
	 	 	 
	 	By: 	                  
	 	Name:   	 
	 	Title: 	 

 

Acknowledged and Agreed:

 

CONTINENTAL STOCK TRANSFER &

TRUST COMPANY, as Trustee

 

	 	 	 
	Name:   	 	 
	Title:	 	 

 

	Cc: 	Feutune Light Acquisition Corporation 	 
	 	 	 
	 	48 Bridge Street, Building A	 
	 	Metuchen, New Jersey 08840	 
	 	Attn: Yuanmei Ma, CFO 	 

 

Attachments:

Shareholder Wire Instructions

Share advice or instruction

 

 

20

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