Document:

Document

Exhibit 10.22
AMENDMENT NO.  1 TO EMPLOYMENT AGREEMENT

This AMENDMENT No. 1 (this “Amendment”), entered into effective as of December 2, 2021 (the “Effective Date”), by and between Global Industrial Company ( the “Company) and ADINA STORCH (the “Employee”), to the Employment Agreement, dated as of October 5, 2021, by and between the Company and Employee (the “Agreement”). Capitalized terms used but not defined herein shall have the meanings provided in the Agreement.
RECITALS

WHEREAS, the Company and the Employee desire to amend the Agreement as set forth herein.

NOW, THEREFORE, it is mutually agreed as follows:

1.Amendment to Section 2(g) and 2(h) .  Effective as of the Effective Date of this Amendment, the Sections 2(g and 2(h) ) shall be amended and restated as follows:

    “(g)    Annual Equity Grant. Employee shall be entitled to an annual grant of equity, at the time the Company’s Compensation Committee reviews equity grants for similarly situated Executives (anticipated to be February 2022 and each subsequent February), in a target amount no less than 75% of the current year’s target Annual Cash Bonus (in accordance with the Company’s 2020 Long Term Incentive Plan). The grant shall consist of 50% Performance Restricted Stock Units and 50% Stock Options. The number of stock options to be granted will be calculated using the Black-Scholes option pricing model based on the closing price of the Company’s common stock as quoted on the NYSE at the close of business on the last business day prior to the date of grant. In addition, the stock options will (a) be exercisable at an exercise price per share equal to the fair market value of a share of the Company’s common stock as quoted on the NYSE at close of business on the last business day prior to the date of grant, (b) vest over a period of four years with 25% of the options vesting on the first, second, third, and fourth anniversary date of the grant date, and (c) contain such other terms and conditions as may be set forth in the stock option agreement with you. The number of performance restricted stock units will be determined based on an amount equal to 50% of value of the Annual Equity Grant divided by the closing price of the Company’s common stock as quoted on the NYSE on the last business day prior to the grant date. The performance restricted stock units will vest in installments (subject to the achievement of the performance metrics set forth in the grant agreements) annually on the last date of each fiscal year, over up to four years, beginning with December 31, 2022. The delivery of vested shares shall occur on the earliest of (i) the last date on which the last tranche of Performance Units could have become vested (i.e., December 31, 2025) or (ii) the date on which the Recipient is no longer an employee of the company for any reason. The annual equity grants to Employee of restricted stock units and stock options shall be documented pursuant to award agreements that shall provide that all restricted stock units and stock options shall become immediately 100% vested upon the Employee’s termination by the Company, including, but not limited to, termination by Employee for “Good Reason” (as defined below) within 6 months following a Change in Control (as defined below), and that all of Employee’s outstanding options shall remain exercisable in accordance with their terms, but in no event for less than 90 days after such termination. For purposes of this Agreement, “Change in Control” shall mean: (i) the sale or other disposition of all or substantially all of the assets of the Company; (ii) any sale or exchange of the capital stock of the Company by the stockholders of the Company in one transaction or series of related transactions as a result of which more than fifty percent (50%) of the outstanding voting securities of the Company is acquired by a person or entity or group of related persons or entities; (iii) any reorganization, consolidation or merger of the Company where the outstanding voting securities of the Company immediately before the transaction represent or are converted into less than fifty percent (50%) of the outstanding voting power of the surviving entity (or its parent corporation) immediately after the transaction; or (iv) the consummation of the acquisition of fifty-one percent (51%) or more of the outstanding stock of the Company pursuant to a tender offer validly made under any federal or state law (other than a tender offer by the Company).

(h) Sign-on Equity Grant. Upon Commencement of this Agreement, Employee shall be entitled to receive a one-time equity grant in the amount of $260,000 (in accordance with the Company’s 2020 

Long Term Incentive Plan) consisting of 50% restricted stock units and 50% stock options which shall be granted on your start date. The number of stock options to be granted will be calculated using the Black-Scholes option pricing model based on the closing price of the Company’s common stock as quoted on the NYSE at the close of business on the last business day prior to the date of grant. In addition, the stock options will (a) be exercisable at an exercise price per share equal to the fair market value of a share of the Company’s common stock as quoted on the NYSE at close of business on the last business day prior to the date of grant, (b) vest over a period of four years with 25% of the options vesting on the first, second, third, and fourth anniversary date of the grant date, and (c) contain such other terms and conditions as may be set forth in the stock option agreement with you. The number of restricted stock units will be determined based on an amount equal to $130,000 divided by the closing price of the Company’s common stock as quoted on the NYSE on the last business day prior to the grant date (rounded up to the nearest whole share). The restricted stock units will vest over a period of 4 years with 25% of the restricted stock units vesting on the first, second, third, and fourth anniversary of the grant date. The restricted stock unit agreement and the stock option agreement with you for this sign-on Equity Grant shall provide that if your employment with the Company (or its successor) shall be terminated by the Company (or its successor) without “Cause” (as defined below) or by Employee for “Good Reason” (as defined below) within six (6) months following a “Change in Control”, all of Employee’s outstanding restricted stock units and unvested stock options shall immediately vest and all of Employee’s outstanding options shall remain exercisable in accordance with their terms, but in no event for less than 90 days after such termination.

2.      Miscellaneous.  
      In all other respects, the Agreement as previously in effect is ratified and confirmed, and the Agreement, as amended herein, continues in full force and effect.
(b)     The validity, interpretation, construction and performance of this Amendment shall be governed by the laws of the State of New York, without regard to the conflicts of law rules thereof.  
IN WITNESS WHEREOF, the parties have executed this Amendment on the date and year first written above.

						
		GLOBAL INDUSTRIAL COMPANY
		 
		By:  /s/ Thomas Clark
		Name:  Thomas Clark
		Title:  Senior Vice President and Chief Financial Officer
	 	 
		/s/ Adina Storch
		Adina StorchExhibit 4.3

 

Description of Registrant’s Securities
Registered

Pursuant to Section 12 of the Securities Exchange
Act of 1934

 

General

 

As of December 31, 2021, MoneyLion
Inc.’s (the “Company”, “MoneyLion”, “we”, “our” and “us”) authorized
capital stock consisted of 2,000,000,000 shares of Class A common stock, par value $0.0001 per share (“Class A common stock”),
and 200,000,000 shares of undesignated preferred stock, par value $0.0001 per share. As of December 31, 2021, we had 231,452,448 shares
of Class A common stock outstanding held by approximately 114 holders of record and no shares of preferred stock outstanding. The following
description of capital stock is intended as a summary only and is qualified in its entirety by reference to our Fourth Amended and Restated
Articles of Incorporation (the “Charter”) and our Amended and Restated Bylaws (the “Bylaws”), which are incorporated
by reference as Exhibits 3.1 and 3.2, respectively, to our Annual Report on Form 10-K of which this Exhibit 4.3 is a part. We encourage
you to read these documents and the applicable portion of the Delaware General Corporation Law, as amended (the “DGCL”), carefully.

 

Common Stock

 

Voting Rights

 

Each holder of the shares of
Class A common stock is entitled to one vote for each share of Class A common stock held of record by such holder on all matters on which
stockholders generally are entitled to vote, as provide by our Charter. The holders of the shares of Class A common stock do not have
cumulative voting rights in the election of directors. Generally, all matters to be voted on by the holders of Class A common stock must
be approved by a majority (or, in the case of election of directors, by a plurality) of the votes entitled to be cast present in person
or represented by proxy, unless otherwise specified by law, our Charter or Bylaws.

 

Dividend Right

 

Subject to preferences that
may be applicable to any outstanding preferred stock, the holders of shares of Class A common stock are entitled to receive ratably such
dividends, if any, as may be declared from time to time by the board of directors of MoneyLion (the “MoneyLion Board”) out
of funds legally available therefor.

 

Rights upon Liquidation, Dissolution and
Winding-Up

 

In the event of any voluntary
or involuntary liquidation, dissolution or winding up of MoneyLion’s affairs, the holders of the shares of Class A common stock
are entitled to share ratably in all assets remaining after payment of MoneyLion’s debts and other liabilities, subject to prior
distribution rights of preferred stock or any class or series of stock having a preference over the shares of Class A common stock, then
outstanding, if any.

 

Preemptive or Other Rights

 

The holders of shares of Class
A common stock have no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions
applicable to the shares of Class A common stock. The rights, preferences and privileges of holders of shares of Class A common stock
will be subject to those of the holders of any shares of the preferred stock MoneyLion may issue in the future.

 

Preferred Stock

 

Our Charter authorizes the
MoneyLion Board to establish one or more series of preferred stock. Unless required by law or by any stock exchange, and subject to the
terms of our Charter, the authorized shares of preferred stock will be available for issuance without further action by holders of Class
A common stock. The MoneyLion Board is able to determine, with respect to any series of preferred stock, designations, powers, preferences
and relative, participating, optional or other rights, if any, and the qualifications, limitations or restrictions thereof, if any.

 

     

     

    

 

MoneyLion could issue a
series of preferred stock that could, depending on the terms of the series, impede or discourage an acquisition attempt or other
transaction that some, or a majority, of the holders of Class A common stock might believe to be in their best interests or in which
the holders of Class A common stock might receive a premium over the market price of the shares of Class A common stock.
Additionally, the issuance of preferred stock may adversely affect the rights of holders of Class A common stock by restricting
dividends on the common stock, diluting the voting power of the common stock or subordinating the rights of the common stock to
distributions upon a liquidation, dissolution or winding up or other event. As a result of these or other factors, the issuance of
preferred stock could have an adverse impact on the market price of Class A common stock.

 

Warrants

 

Public Stockholders’ Warrants

 

As of December 31, 2021, there
were outstanding an aggregate of 17,499,900 public warrants, which entitle the holder to acquire shares of Class A common stock. Each
whole warrant entitles the registered holder to purchase one share of Class A common stock at a price of $11.50 per share, subject to
adjustment as discussed below, provided that MoneyLion has an effective registration statement under the Securities Act of 1933, as amended
(the “Securities Act”), covering the shares of Class A common stock issuable upon exercise of the warrants and a current prospectus
relating to them is available (or it permits holders to exercise their warrants on a cashless basis under the circumstances specified
in the warrant agreement) and such shares are registered, qualified or exempt from registration under the securities, or blue sky, laws
of the state of residence of the holder. A holder may exercise its warrants only for a whole number of shares of Class A common stock.
This means only a whole warrant may be exercised at a given time by a warrant holder; only whole warrants will trade. The warrants will
expire on September 22, 2026, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation.

 

We will not be obligated to
deliver any shares of Class A common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise
unless a registration statement under the Securities Act with respect to the shares of Class A common stock underlying the warrants is
then effective and a prospectus relating thereto is current, subject to MoneyLion satisfying its obligations described below with respect
to registration. No warrant will be exercisable and we will not be obligated to issue shares of Class A common stock upon exercise of
a warrant unless the shares of Class A common stock issuable upon such warrant exercise has been registered, qualified or deemed to be
exempt under the securities laws of the state of residence of the registered holder of the warrants. In the event that the conditions
in the two immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will not be entitled
to exercise such warrant and such warrant may have no value and expire worthless. In no event will we be required to net cash settle any
warrant.

 

MoneyLion filed with the U.S.
Securities and Exchange Commission a registration statement for the registration, under the Securities Act, of the shares of Class A common
stock issuable upon exercise of the warrants, which was declared effective on October 22, 2021. MoneyLion will use its best efforts to
maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration of the warrants
in accordance with the provisions of the warrant agreement. Notwithstanding the above, if the shares of Class A common stock are at the
time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered
security” under Section 18(b)(1) of the Securities Act, we may, at our option, require holders of public warrants who
exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act
and, in the event we so elect, we will not be required to file or maintain in effect a registration statement, and in the event we do
not so elect, we will use our best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption
is not available.

 

Redemption of Warrants

 

MoneyLion may call the warrants
for redemption for cash:

 

		●	in whole and not in part;

 

		●	at a price of $0.01 per warrant;

 

		●	upon not less than 30 days’ prior written notice
of redemption (the “30-day redemption period”) to each warrant holder; and

 

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		●	if, and only if, the closing price of the Class A common stock
equals or exceeds $18.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like
and for certain issuances of shares of Class A common stock and equity-linked securities for capital raising purposes in connection with
the closing of our initial business combination) for any 20 trading days within a 30-trading day period ending three business
days before we send to the notice of redemption to the warrant holders.

 

MoneyLion may exercise its
redemption right even if it is unable to register or qualify the underlying securities for sale under all applicable state securities
laws.

 

We have established the last
of the redemption criterion discussed above to prevent a redemption call unless there is at the time of the call a significant premium
to the warrant exercise price. If the foregoing conditions are satisfied and MoneyLion issues a notice of redemption of the warrants,
each warrant holder will be entitled to exercise his, her or its warrant prior to the scheduled redemption date. However, the price of
the shares of Class A common stock may fall below the $18.00 redemption trigger price (as adjusted for stock splits, stock capitalizations,
reorganizations, recapitalizations and the like and for certain issuances of shares of Class A common stock and equity-linked securities
for capital raising purposes in connection with the closing of our initial business combination) as well as the $11.50 warrant exercise
price after the redemption notice is issued.

 

If MoneyLion calls the warrants
for redemption, our management will have the option to require any holder that wishes to exercise his, her or its warrant to do so on
a “cashless basis.” In determining whether to require all holders to exercise their warrants on a “cashless basis,”
our management will consider, among other factors, our cash position, the number of warrants that are outstanding and the dilutive effect
on our stockholders of issuing the maximum number of shares of Class A common stock issuable upon the exercise of our warrants. If our
management takes advantage of this option, all holders of warrants would pay the exercise price by surrendering their warrants for that
number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares of Class
A common stock underlying the warrants, multiplied by the excess of the “fair market value” (defined below) of the Class A
common stock over the exercise price of the warrants by (y) the fair market value. The “fair market value” will mean
the average closing price of the shares of Class A common stock for the 10 trading days ending on the third trading day prior
to the date on which the notice of redemption is sent to the holders of warrants. If our management takes advantage of this option, the
notice of redemption will contain the information necessary to calculate the number of shares of Class A common stock to be received upon
exercise of the warrants, including the “fair market value” in such case. Requiring a cashless exercise in this manner will
reduce the number of shares to be issued and thereby lessen the dilutive effect of a warrant redemption. We believe this feature is an
attractive option to us if we do not need the cash from the exercise of the warrants. If we call our warrants for redemption and our management
does not take advantage of this option, the holders of the private placement warrants and their permitted transferees would still be entitled
to exercise their private placement warrants for cash or on a cashless basis using the same formula described above that other warrant
holders would have been required to use had all warrant holders been required to exercise their warrants on a cashless basis, as described
in more detail below.

 

A holder of a warrant may notify
us in writing in the event it elects to be subject to a requirement that such holder will not have the right to exercise such warrant,
to the extent that after giving effect to such exercise, such person (together with such person’s affiliates), to the warrant agent’s
actual knowledge, would beneficially own in excess of 4.9% or 9.8% (as specified by the holder) of the shares of Class A common stock
outstanding immediately after giving effect to such exercise.

 

If the number of outstanding
shares of Class A common stock is increased by a share capitalization payable in shares of Class A common stock, or by a split-up of common
stock or other similar event, then, on the effective date of such share capitalization, split-up or similar event, the number of shares
of Class A common stock issuable on exercise of each warrant will be increased in proportion to such increase in the outstanding shares
of common stock. A rights offering to holders of common stock entitling holders to purchase shares of Class A common stock at a price
less than the fair market value will be deemed a share capitalization of a number of shares of Class A common stock equal to the product
of (i) the number of shares of Class A common stock actually sold in such rights offering (or issuable under any other equity securities
sold in such rights offering that are convertible into or exercisable for shares of Class A common stock) multiplied by (ii) one
(1) minus the quotient of (x) the price per shares of Class A common stock paid in such rights offering and divided by (y) the
fair market value. For these purposes (i) if the rights offering is for securities convertible into or exercisable for shares of
Class A common stock, in determining the price payable for shares of Class A common stock, there will be taken into account any consideration
received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) fair market value means the
volume weighted average price of shares of Class A common stock as reported during the ten (10) trading day period ending on the trading
day prior to the first date on which the shares of Class A common stock trades on the applicable exchange or in the applicable market,
regular way, without the right to receive such rights.

 

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In addition, if MoneyLion,
at any time while the warrants are outstanding and unexpired, pays a dividend or makes a distribution in cash, securities or other assets
to the holders of common stock on account of such shares of common stock (or other shares of capital stock into which the warrants are
convertible), other than (a) as described above and (b) certain ordinary cash dividends, then the warrant exercise price will
be decreased, effective immediately after the effective date of such event, by the amount of cash and/or the fair market value of any
securities or other assets paid on each share of common stock in respect of such event.

 

If the number of outstanding
shares of Class A common stock is decreased by a consolidation, combination, reverse share split or reclassification of shares of Class
A common stock or other similar event, then, on the effective date of such consolidation, combination, reverse share split, reclassification
or similar event, the number of shares of Class A common stock issuable on exercise of each warrant will be decreased in proportion to
such decrease in outstanding shares of Class A common stock.

 

Whenever the number of shares
of Class A common stock purchasable upon the exercise of the warrants is adjusted, as described above, the warrant exercise price will
be adjusted by multiplying the warrant exercise price immediately prior to such adjustment by a fraction (x) the numerator of which
will be the number of shares of Class A common stock purchasable upon the exercise of the warrants immediately prior to such adjustment,
and (y) the denominator of which will be the number of shares of Class A common stock so purchasable immediately thereafter.

 

In case of any reclassification
or reorganization of the outstanding shares of Class A common stock (other than those described above or that solely affects the par value
of such shares of Class A common stock), or in the case of any merger or consolidation of us with or into another corporation (other than
a consolidation or merger in which we are the continuing corporation and that does not result in any reclassification or reorganization
of our outstanding shares of Class A common stock), or in the case of any sale or conveyance to another corporation or entity of the assets
or other property of us as an entirety or substantially as an entirety in connection with which we are dissolved, the holders of the warrants
will thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the warrants and
in lieu of the shares of Class A common stock immediately theretofore purchasable and receivable upon the exercise of the rights represented
thereby, the kind and amount of shares of Class A common stock or other securities or property (including cash) receivable upon such reclassification,
reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the holder of the warrants would
have received if such holder had exercised their warrants immediately prior to such event. If less than 70% of the consideration receivable
by the holders of shares of Class A common stock in such a transaction is payable in the form of shares of Class A common stock in the
successor entity that is listed for trading on a national securities exchange or is quoted in an established over-the-counter market,
or is to be so listed for trading or quoted immediately following such event, and if the registered holder of the warrant properly exercises
the warrant within thirty days following public disclosure of such transaction, the warrant exercise price will be reduced as specified
in the warrant agreement based on the Black-Scholes Warrant Value (as defined in the warrant agreement) of the warrant. The purpose of
such exercise price reduction is to provide additional value to holders of the warrants when an extraordinary transaction occurs during
the exercise period of the warrants pursuant to which the holders of the warrants otherwise do not receive the full potential value of
the warrants.

 

The warrants have been issued
in registered form under a warrant agreement between Continental Stock Transfer & Trust Company, as warrant agent, and us. The
warrant agreement provides that the terms of the warrants may be amended without the consent of any holder to cure any ambiguity or correct
any defective provision, and that all other modifications or amendments will require the vote or written consent of the holders of at
least 50% of the then outstanding public warrants, and, solely with respect to any amendment to the terms of the private placement warrants,
a majority of the then outstanding private placement warrants. You should review a copy of the warrant agreement, which is incorporated
by reference as an exhibit to our Annual Report on Form 10-K of which this Exhibit 4.3 is a part, for a complete description of the terms
and conditions applicable to the warrants.

 

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The warrants may be exercised
upon surrender of the warrant certificate on or prior to the expiration date at the offices of the warrant agent, with the exercise form
on the reverse side of the warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price
(or on a cashless basis, if applicable), by certified or official bank check payable to us, for the number of warrants being exercised.
The warrant holders do not have the rights or privileges of holders of Class A common stock and any voting rights until they exercise
their warrants and receive shares of Class A common stock. After the issuance of shares of Class A common stock upon exercise of the warrants,
each holder will be entitled to one vote for each share held of record on all matters to be voted on by stockholders.

 

No fractional shares will be
issued upon exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in
a share, we will, upon exercise, round down to the nearest whole number the number of shares of Class A common stock to be issued to the
warrant holder.

 

Private Placement Warrants

 

As of December 31, 2021, there
were 8,100,000 private placement warrants outstanding exercisable for 8,100,000 shares of MoneyLion Class A common stock. The private
placement warrants are not redeemable by us so long as they are held by Fusion Sponsor LLC, a Delaware limited liability company, or its
permitted transferees. The initial purchasers, or their permitted transferees, have the option to exercise the private placement warrants
on a cashless basis. Except as described in this section, the private placement warrants have terms and provisions that are identical
to the public warrants of MoneyLion. If the private placement warrants are held by holders other than the initial purchasers or their
permitted transferees, the private placement warrants will be redeemable by us for cash and exercisable by the holders on the same basis
as the warrants included in the units sold in Fusion Acquisition Corp.’s initial public offering, consummated on June 30, 2020.

 

If holders of the private placement
warrants elect to exercise them on a cashless basis, they would pay the exercise price by surrendering his, her or its warrants for that
number of shares of Class A common stock equal to the quotient obtained by dividing (x) the product of the number of shares
of Class A common stock underlying the warrants, multiplied by the excess of the “fair market value” of the Class A
common stock (defined below) over the exercise price of the warrants by (y) the fair market value. The “fair market value”
means the average closing price of the shares of Class A common stock for the 10 trading days ending on the third trading day prior
to the date on which the notice of warrant exercise is sent to the warrant agent. The reason that we have agreed that these warrants will
be exercisable on a cashless basis so long as they are held by the initial purchasers or their permitted transferees is because it is
not known at this time whether they will be affiliated with us following a business combination. If they remain affiliated with us, their
ability to sell our securities in the open market will be significantly limited. We have policies in place that prohibit insiders from
selling our securities except during specific periods of time. Even during such periods of time when insiders will be permitted to sell
our securities, an insider cannot trade in our securities if he or she is in possession of material non-public information. Accordingly,
unlike public stockholders who could exercise their warrants and sell the shares of Class A common stock received upon such exercise
freely in the open market in order to recoup the cost of such exercise, the insiders could be significantly restricted from selling such
securities. As a result, we believe that allowing the holders to exercise such warrants on a cashless basis is appropriate.

 

Anti-Takeover Effects of the Charter and Bylaws
and Certain Provisions of Delaware Law

 

Our Charter, Bylaws and the
DGCL contain provisions that are summarized in the following paragraphs and that are intended to enhance the likelihood of continuity
and stability in the composition of the MoneyLion Board. These provisions are intended to avoid costly takeover battles, reduce our vulnerability
to a hostile or abusive change of control and enhance the ability of the MoneyLion Board to maximize stockholder value in connection with
any unsolicited offer to acquire us. However, these provisions may have an anti-takeover effect and may delay, deter or prevent a merger
or acquisition of MoneyLion by means of a tender offer, a proxy contest or other takeover attempt that a stockholder might consider in
its best interest, including those attempts that might result in a premium over the prevailing market price for the shares of Class A
common stock held by stockholders.

 

Authorized but Unissued Capital Stock

 

Delaware law does not require
stockholder approval for any issuance of shares that are authorized and available for issuance. However, the listing requirements of the
New York Stock Exchange (the “NYSE”), which apply so long as the shares of Class A common stock remain listed on the NYSE,
require stockholder approval of certain issuances equal to or exceeding 20% of the then outstanding voting power or the then outstanding
number of shares of common stock. These additional shares may be used for a variety of corporate purposes, including future public offerings,
to raise additional capital or to facilitate acquisitions. Additionally, the number of authorized shares of any series of common stock
or preferred stock may be increased or decreased (but not below the number of shares thereof outstanding) by the affirmative vote of the
holders of a majority in voting power, irrespective of the provisions of Section 242(b)(2) of the DGCL.

 

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The MoneyLion Board may generally
issue shares of one or more series of preferred stock on terms designed to discourage, delay or prevent a change of control of MoneyLion
or the removal of our management. Moreover, our authorized but unissued shares of preferred stock will be available for future issuances
in one or more series without stockholder approval and could be utilized for a variety of corporate purposes, including future offerings
to raise additional capital, to facilitate acquisitions and employee benefit plans.

 

One of the effects of the existence
of authorized and unissued and unreserved shares of Class A common stock or preferred stock may be to enable the MoneyLion Board to issue
shares to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control
of MoneyLion by means of a merger, tender offer, proxy contest or otherwise, and thereby protect the continuity of our management and
possibly deprive our stockholders of opportunities to sell their shares of Class A common stock at prices higher than prevailing market
prices.

 

Removal of Directors; Vacancies and Newly
Created Directorships

 

Our Charter provides that,
subject to the rights granted to one or more series of preferred stock then outstanding, no director may be removed from office by the
stockholders other than for cause with the affirmative of vote of at least 66 2/3% of the total voting power then outstanding. Our Charter
further provides that, subject to the rights granted to one or more series of preferred stock then outstanding, any newly-created directorship
on the MoneyLion Board that results from an increase in the number of directors and any vacancies on the MoneyLion Board will be filled
solely only by the affirmative vote of a majority of the remaining directors, even if less than a quorum, by a sole remaining director
or by the stockholders.

 

Special Stockholder Meetings

 

Our Charter provides that special
meetings of our stockholders may be called at any time only by the MoneyLion Board acting pursuant to a resolution adopted by the MoneyLion
Board, subject to the rights of holders of any series of preferred stock then outstanding. Our Bylaws prohibit the conduct of any business
at a special meeting other than as specified in the notice for such meeting. These provisions may have the effect of deterring, delaying
or discouraging hostile takeovers, or changes in control or management of MoneyLion.

 

Director Nominations and Stockholder Proposals

 

Our Bylaws establish advance
notice procedures with respect to stockholder proposals and the nomination of candidates for election as directors, other than nominations
made by or at the direction of the MoneyLion Board or a committee of the MoneyLion Board. In order for any matter to be “properly
brought” before a meeting, a stockholder will have to comply with advance notice requirements and provide us with certain information.
Generally, to be timely, a stockholder’s notice must be received at our principal executive offices not less than 90 days nor
more than 120 days prior to the first anniversary date of the immediately preceding annual meeting of stockholders, subject to specified
exceptions. Our Bylaws also specify requirements as to the form and content of a stockholder’s notice. Our Bylaws allow the chairman
of the meeting at a meeting of the stockholders to adopt rules and regulations for the conduct of meetings which may have the effect of
precluding the conduct of certain business at a meeting if the rules and regulations are not followed. These provisions may also defer,
delay or discourage a potential acquirer from conducting a solicitation of proxies to elect the acquirer’s own slate of directors
or otherwise attempting to influence or obtain control of MoneyLion.

 

Stockholder Action by Written Consent

 

Pursuant to Section 228
of the DGCL, any action required to be taken at any annual or special meeting of the stockholders may be taken without a meeting, without
prior notice, and without a vote if a consent or consents in writing, setting forth the action so taken, is or are signed by the holders
of outstanding stock having not less than the minimum number of votes that would be necessary to authorize or take such action at a meeting
at which all shares of our stock entitled to vote thereon were present and voted, unless our Charter provides otherwise. Subject to applicable
law and the rights, if any, of the holders of any outstanding series of preferred stock or any other outstanding class or series of stock
of MoneyLion, our Charter does not permit our holders of common stock to act by consent in writing.

 

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Section 203 of the DGCL

 

MoneyLion is subject to the
provisions of Section 203 of the DGCL, which we refer to as “Section 203” regulating corporate takeovers. In general,
Section 203 prohibits a publicly held Delaware corporation from engaging, under certain circumstances, in a business combination
with an interested stockholder for a period of three years following the date the person became an interested stockholder unless:

 

		●	prior to the date of the transaction, the MoneyLion Board
approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

 

		●	upon completion of the transaction that resulted in the stockholder
becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding
at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, but not the outstanding voting
stock owned by the interested stockholder, (1) shares owned by persons who are directors and also officers and (2) shares owned
by employee stock plans in which employee participants do not have the right to determine confidentially whether shares held subject
to the plan will be tendered in a tender or exchange offer; or

 

		●	at or subsequent to the date of the transaction, the business
combination is approved by the MoneyLion Board and authorized at an annual or special meeting of stockholders, and not by written consent,
by the affirmative vote of at least two-thirds of the outstanding voting stock that is not owned by the interested stockholder.

 

Generally, a business combination
includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. An interested
stockholder is a person who, together with affiliates and associates, owns or, within three years prior to the determination of interested
stockholder status, did own 15% or more of a corporation’s outstanding voting stock. The MoneyLion Board expects the existence of
this provision to have an anti-takeover effect with respect to transactions the MoneyLion Board does not approve in advance. The MoneyLion
Board also anticipates that Section 203 may discourage attempts that might result in a premium over the market price for the shares
of Class A common stock held by stockholders.

 

The provisions of Delaware
law and the provisions of our Charter and Bylaws could have the effect of discouraging others from attempting hostile takeovers and as
a consequence, they might also inhibit temporary fluctuations in the market price of MoneyLion’s Class A common stock that often
result from actual or rumored hostile takeover attempts. These provisions might also have the effect of preventing changes in MoneyLion’s
management. It is also possible that these provisions could make it more difficult to accomplish transactions that stockholders might
otherwise deem to be in their best interests.

 

Dissenters’ Rights of Appraisal and Payment

 

Under the DGCL, with certain
exceptions, our stockholders will have appraisal rights in connection with a merger or consolidation in which we are a constituent entity.
Pursuant to the DGCL, stockholders who properly demand and perfect appraisal rights in connection with such merger or consolidation will
have the right to receive payment of the fair value of their shares as determined by the Court of Chancery of the State of Delaware, plus
interest, if any, on the amount determined to be the fair value, from the effective time of such merger or consolidation through the date
of payment of the judgment.

 

Stockholders’ Derivative Actions

 

Under the DGCL, any of our
stockholders may bring an action in our name to procure a judgment in our favor, also known as a derivative action, provided that the
stockholder bringing the action is a holder of our shares at the time of the transaction to which the action relates or such stockholder’s
stock thereafter devolved by operation of law. To bring such an action, the stockholder must otherwise comply with Delaware law regarding
derivative actions.

 

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Exclusive Forum

 

Our Charter provides that,
unless MoneyLion consents in writing to the selection of an alternative forum, the Court of Chancery shall be the sole and exclusive forum
for any stockholder (including a beneficial owner) to bring (i) any derivative action or proceeding brought on behalf of MoneyLion,
(ii) any action asserting a claim of breach of a fiduciary duty owed by any director, officer or other employee of MoneyLion to MoneyLion
or MoneyLion’s stockholders, (iii) any action asserting a claim against MoneyLion, its directors, officers or employees arising
pursuant to any provision of the DGCL or our Charter or Bylaws, or (iv) any action asserting a claim against MoneyLion, its directors,
officers or employees governed by the internal affairs doctrine and, if brought outside of Delaware, the stockholder bringing the suit
will be deemed to have consented to service of process on such stockholder’s counsel, except for, as to each of (i) through
(iv) above, any claim (A) as to which the Court of Chancery determines that there is an indispensable party not subject to the
jurisdiction of the Court of Chancery (and the indispensable party does not consent to the personal jurisdiction of the Court of Chancery
within ten days following such determination), (B) which is vested in the exclusive jurisdiction of a court or forum other than
the Court of Chancery, (C) for which the Court of Chancery does not have subject matter jurisdiction, or (D) arising under the
Securities Act as to which the Court of Chancery and the federal district court for the District of Delaware shall have concurrent jurisdiction.
Notwithstanding the foregoing, these provisions will not apply to suits brought to enforce a duty or liability created by the Securities
Exchange Act of 1934, as amended, or any other claim for which the federal courts have exclusive jurisdiction. Any person or entity
purchasing or otherwise acquiring any interest in any security of MoneyLion shall be deemed to have notice of and consented to these provisions.

 

It is possible that a court
could find these forum selection provisions to be inapplicable or unenforceable and, accordingly, MoneyLion could be required to litigate
claims in multiple jurisdictions, incur additional costs or otherwise not receive the benefits that the MoneyLion Board expects MoneyLion’s
forum selection provisions to provide.

 

To the fullest extent permitted
by law, any person or entity purchasing or otherwise acquiring or holding any interest in shares of capital stock of our company shall
be deemed to have notice of and consented to the forum provisions in our Charter. However, investors will not be deemed to have waived
compliance with the federal securities laws and the rules and regulations thereunder as a result of the forum selection provisions in
our Charter.

 

Conflicts of Interest

 

Delaware law permits corporations
to adopt provisions renouncing any interest or expectancy in certain opportunities that are presented to the corporation or its officers,
directors or stockholders. Our Charter, to the maximum extent permitted from time to time by Delaware law, renounces any interest or expectancy
that we have in, or right to be offered an opportunity to participate in, specified business opportunities that are from time to time
presented to our directors or their affiliates, other than those directors or affiliates who are our or our subsidiaries’ employees.
Our Charter provides that, to the fullest extent permitted by law, none of the our directors who are not employed by us (including any
non-employee director who serves as one of our officers in both his or her director and officer capacities) or his or her affiliates will
have any duty to refrain from (i) engaging in a corporate opportunity in the same or similar lines of business in which we or our
affiliates now engage or propose to engage or (ii) otherwise competing with us or our affiliates. Our Charter does not renounce our
interest in any business opportunity that is expressly offered to a non-employee director solely in his or her capacity as a director
or officer of MoneyLion. To the fullest extent permitted by law, no business opportunity will be deemed to be a potential corporate opportunity
for us unless we would be permitted to undertake the opportunity under our Charter, we have sufficient financial resources to undertake
the opportunity and the opportunity would be in line with our business.

 

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Limitations on Liability and Indemnification
of Officers and Directors

 

The DGCL authorizes corporations
to limit or eliminate the personal liability of directors to corporations and their stockholders for monetary damages for breaches of
directors’ fiduciary duties, subject to certain exceptions. Our Charter includes a provision that eliminates the personal liability
of directors for monetary damages to the corporation or its stockholders for any breach of fiduciary duty as a director, except to the
extent such exemption from liability or limitation thereof is not permitted under the DGCL. The effect of these provisions is to
eliminate the rights of us and our stockholders, through stockholders’ derivative suits on our behalf, to recover monetary damages
from a director for breach of fiduciary duty as a director, including breaches resulting from grossly negligent behavior. However, exculpation
does not apply to any director if the director has breached such director’s duty of loyalty, acted in bad faith, knowingly or intentionally
violated the law, authorized illegal dividends, redemptions or repurchases or derived an improper benefit from his or her actions as a
director.

 

The limitation of liability
provision in our Charter and Bylaws may discourage stockholders from bringing a lawsuit against directors for breach of their fiduciary
duty. These provisions also may have the effect of reducing the likelihood of derivative litigation against directors and officers, even
though such an action, if successful, might otherwise benefit us and our stockholders. In addition, your investment may be adversely affected
to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions.

 

Transfer Agent and Registrar

 

The transfer agent and registrar
for our Class A common stock is Continental Stock Transfer & Trust Company. The transfer agent’s address is 1 State Street,
30th Floor, New York, New York 1004.

 

Listing

 

Our Class A common stock and
warrants are listed on the NYSE under the symbols “ML” and “ML WS”, respectively.

 

 

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