Document:

EX-10.7

 Exhibit 10.7 

February        , 2021 

M3-Brigade Acquisition II Corp. 

1700 Broadway, 19th Floor 
 New York, NY 10019 

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”) entered into by and between M3-Brigade Acquisition II Corp., a Delaware corporation (the “Company”), and Cantor Fitzgerald &
Co., as representative (the “Representative”) of the several underwriters (each, an “Underwriter” and collectively, the “Underwriters”), relating to an underwritten initial
public offering (the “Public Offering”), of up to 46,000,000 of the Company’s units (including up to 6,000,000 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”), and one-third of one
redeemable warrant. Each whole 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 as described in the Prospectus
(as defined below). The Units will 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 U.S.
Securities and Exchange Commission (the “Commission”) and the Units have been approved for listing on the New York Stock Exchange. Certain capitalized terms used herein are defined in paragraph 11 hereof. 

In order to induce the Company and the 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, each of M3-Brigade Sponsor II LP (the “Sponsor”) and the undersigned individuals, each of whom is a
member of the Company’s board of directors and/or management team (each of the undersigned individuals, an “Insider” and collectively, the “Insiders”), hereby agrees with the Company as follows:

 1. The Sponsor and each Insider 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 Common Stock (as defined below) owned by it, him or her in favor of any proposed Business Combination and (ii) not redeem any shares of Common
Stock owned by it, him or her in connection with such stockholder approval. If the Company seeks to consummate a proposed Business Combination by engaging in a tender offer, the Sponsor and each Insider agrees that it, he or she will not sell or
tender any shares of Common Stock owned by it, him or her in connection therewith. The Company agrees not to enter into a definitive agreement with respect to an initial business combination without the written consent of the Sponsor. 

2. The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business Combination within 24 months
from the closing of the Public Offering, or such later period approved by the Company’s stockholders in accordance with the Company’s amended and restated certificate of incorporation (as it may be amended from time to time, the
“Charter”), the Sponsor and each Insider shall take all reasonable steps to cause the Company to (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more
than ten business days thereafter, redeem 100% of the shares of Class A Common Stock sold as part of the Units in the Public Offering (the “Offering Shares”), at a per-share price,
payable in cash, equal to the aggregate amount then on deposit in the Trust Account (as defined below), including interest earned on the funds held in the Trust Account (which interest shall be net of taxes payable and up to $100,000 of interest to
pay dissolution expenses), divided by the number of then outstanding Offering Shares, which redemption will completely extinguish all Public Stockholders’ rights as stockholders (including the right to receive further liquidating distributions,
if any), 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, liquidate and dissolve, subject in each case to the
Company’s obligations under Delaware law to provide for claims of creditors and other requirements of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the Charter to modify the substance or timing of the
Company’s obligation to redeem 100% of the Offering Shares if the Company does not complete a 

 
Business Combination within the required time period set forth in the Charter or with respect to any other material provisions relating to stockholders’ rights or pre-initial business combination activity, unless the Company provides its Public Stockholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account (which interest shall be net of taxes payable
and up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Offering Shares. 
 The Sponsor and each Insider
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 held
by it, him or her. The Sponsor and each Insider hereby further waives, with respect to any shares of Common Stock held by it, him or her, if any, any redemption rights it, he or she may have in connection with (A) 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 (B) a stockholder vote to approve an amendment to the Charter to modify the substance or timing
of the Company’s obligation to redeem 100% of the Offering Shares if the Company has not consummated a Business Combination within the time period set forth in the Charter or with respect to any other material provisions relating to
stockholders’ rights or pre-initial business combination activity or in the context of a tender offer made by the Company to purchase Offering Shares (although the Sponsor, the Insiders and their
respective affiliates shall be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company fails to consummate a Business Combination within the time period set forth in the Charter). 

3. 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, other than as permitted in the Amended and Restated Operating Agreement of the Sponsor, as amended, supplemented or modified, from time to time, 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 Section 16 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the Commission promulgated thereunder, with respect to, any Units,
shares of Common Stock (including, but not limited to, Founder Shares), Warrants 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 Units, shares of Common Stock (including, but not limited to, Founder Shares), Warrants or any securities convertible into, or
exercisable, or exchangeable for, shares of Common Stock owned by it, him or her, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention to effect any
transaction specified in clause (i) or (ii). For the avoidance of doubt, none of the provisions of this Section 3 shall apply for any transactions entered into in connection with the consummation of an initial Business
Combination. 
 4. In the event of the liquidation of the Trust Account upon the failure of the Company to consummate its initial Business
Combination within the time period set forth in the Charter, the Sponsor (which for purposes of clarification shall not extend to any other shareholders, members or managing managers of the Sponsor) (the “Indemnitor”) agrees
to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending
against any litigation, whether pending or threatened) to which the Company may become subject as a result of any claim by (i) any third party for services rendered or products sold to the Company or (ii) any prospective target business
with which the Company has entered into a written letter of intent, confidentiality or other similar agreement or Business Combination agreement (a “Target”); provided, however, that such indemnification of the Company by the
Indemnitor (x) shall apply only to the extent necessary to ensure that such claims by a third party or a Target do not reduce the amount of funds in the Trust Account to below the lesser of 

  
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(i) $10.00 per Offering Share and (ii) the actual amount per Offering Share held in the Trust Account as of the date of the liquidation of the Trust Account, if less than $10.00 per Offering
Share is then held in the Trust Account due to reductions in the value of the trust assets, less taxes payable, (y) shall not apply to any claims by a third party or a Target which executed a waiver of any and all rights to the monies held in
the Trust Account (whether or not such waiver is enforceable) and (z) shall not apply to any claims under the Company’s indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as
amended. In the event that any such executed waiver by a third party or a Target is deemed to be unenforceable against such third party or Target, the Sponsor shall not be responsible to the extent of any liability for such third-party claims. The
Indemnitor shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15 days following written receipt of notice of the claim to the Indemnitor, the Indemnitor notifies the
Company in writing that it shall undertake such defense. For the avoidance of doubt, none of the Company’s officers or directors will indemnify the Company for claims by third parties, including, without limitation, claims by vendors and
prospective target businesses. 
 5. To the extent that the Underwriters do not exercise their over-allotment option to purchase up to an
additional 6,000,000 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 1,500,000 multiplied by a
fraction, (i) the numerator of which is 6,000,000 minus the number of Units purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 6,000,000. The forfeiture will be adjusted to
the extent that the over-allotment option is not exercised in full by the Underwriters so that the Founder Shares will represent an aggregate of 20.0% of the Company’s issued and outstanding shares of Class A Common Stock after the Public
Offering (not including shares of Class A Common Stock underlying the Warrants or Private Placement Warrants (as defined below)). The Sponsor further agrees that to the extent that the size of the Public Offering is increased or decreased, the
Company will purchase or sell shares or effect a share repurchase or share capitalization, as applicable, immediately prior to the consummation of the Public Offering in such amount as to maintain the ownership of the initial shareholders prior to
the Public Offering at 20.0% of its issued and outstanding Capital Shares upon the consummation of the Public Offering. In connection with such increase or decrease in the size of the Public Offering, then (A) the references to 6,000,000 in the
numerator and denominator of the formula in the first sentence of this paragraph shall be changed to a number equal to 15% of the number of Public Shares included in the Units issued in the Public Offering and (B) the reference to 1,500,000 in
the formula set forth in the first sentence of this paragraph shall be adjusted to such number of Founder Shares that the Sponsor would have to surrender to the Company in order for the initial shareholders to hold an aggregate of 20.0% of the
Company’s issued and outstanding shares of Class A Common Stock after the Public Offering (not including shares of Class A Common Stock underlying the Warrants or Private Placement Warrants). 

6. The Sponsor and each Insider hereby agrees and acknowledges 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, 7, 7(b) and 9, as applicable, of this Letter Agreement (ii) monetary damages may not be an adequate remedy for such breach and
(iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in law or in equity, in the event of such breach. 

7. (a) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Founder Shares (or any shares of Class A Common
Stock issuable upon conversion thereof) until the earlier of (A) one year after the completion of the Company’s initial Business Combination and (B) subsequent to the Business Combination, (x) if the closing price of the
Class A Common Stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day
period commencing at least 150 days after the Company’s initial Business Combination or (y) the date on which the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in
all of the Company’s stockholders having the right to exchange their shares of Class A Common Stock for cash, securities or other property (the “Founder Shares Lock-up
Period”). 
 (b) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Warrants (or
any share of Class A Common Stock issued or issuable upon the exercise of the Private Placement Warrants), until 30 days after the completion of a Business Combination (the “Private Placement Warrants
Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-up Periods”).

  
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 (c) Notwithstanding the provisions set forth in paragraphs 7(a) and (b), Transfers of the
Founder Shares, Private Placement Warrants and shares of Class A Common Stock issued or issuable upon the exercise or conversion of the Private Placement Warrants or the Founder Shares that are held by the Sponsor, any Insider or any of their
permitted transferees (that have complied with this paragraph 7(c)), are permitted (i) to the Company’s officers or directors, any affiliate or family member of any of the Company’s officers or directors, any affiliate of the Sponsor
or to any members of the Sponsor or any of their affiliates; (ii) in the case of an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s
immediate family, an affiliate of such individual or to a charitable organization; (iii) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual; (iv) in the case of an individual, pursuant
to a qualified domestic relations order; (v) by private sales or transfers made in connection with any forward purchase agreement or any financing transaction or similar arrangement or in connection with the consummation of an initial Business
Combination at prices no greater than the price at which each type of security was originally purchased; (vi) in the event of the Company’s liquidation prior to the completion of an initial Business Combination; (vii) by virtue of the
laws of the State of Delaware (viii) the Amended and Restated Operating Agreement of the Sponsor, as amended, supplemented or modified, from time to time ; or (ix) in the event of the Company’s liquidation, merger, capital stock
exchange or other similar transaction which 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 subsequent to the Company’s completion
of an initial Business Combination; provided, however, that in the case of clauses (i) through (ix), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein and
the other restrictions contained in this Agreement (including provisions relating to voting, the Trust Account and liquidating distributions). 

8. The Sponsor and each Insider represents and warrants that it, he or she has never been suspended or expelled from membership in any
securities or commodities exchange or association or had a securities or commodities license or registration denied, suspended or revoked. Each 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. The Sponsor and each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction,
cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in any jurisdiction; it, he or she
has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or
she is not currently a defendant in any such criminal proceeding. 
 9. Except as disclosed in the Prospectus, neither the Sponsor nor any
officer, nor any affiliate of the Sponsor or any officer, nor any director of the Company, shall receive from the Company any finder’s fee, reimbursement, consulting fee, non-cash payments, monies in
respect of any repayment of a loan or other compensation prior to, or in connection with any services rendered in order to effectuate, the consummation of the Company’s initial Business Combination (regardless of the type of transaction that it
is), other than the following, none of which will be made from the proceeds held in the Trust Account prior to the completion of the initial Business Combination: repayment of a loan and advances up to an aggregate of $300,000 made to the Company by
the Sponsor to cover offering-related and organizational expenses; cash compensation to an affiliate of the Sponsor, for any financial advisory, placement agency or other similar investment banking services that such affiliate may provide to our
company, in connection with our initial Business Combination upon the consummation of our initial business combination, and reimbursement to such affiliate for any
out-of-pocket expenses incurred by it in connection with the performance of such services; reimbursement for any reasonable out-of-pocket expenses related to identifying, investigating, negotiating and consummating an initial Business Combination, and repayment of non-interest bearing loans
which may be made by the Sponsor or an affiliate of the Sponsor or certain of the Company’s officers and directors to finance transaction costs in connection with an intended initial Business Combination, provided, that, if the Company does not
consummate an initial Business Combination, a portion of the working capital held outside the Trust Account may be used by the Company to repay such loaned amounts so long as no proceeds from the Trust Account are used for such repayment. Up to
$1,500,000 of such loans may be convertible into warrants of the post-business combination entity at a price of $1.50 per warrant at the option of the lender Such warrants would be identical to the Private Placement Warrants (as defined below),
including as to exercise price, exercisability and exercise period. 

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

11. As used herein, (i) “Business Combination” shall mean a merger, capital stock exchange, asset acquisition, stock
purchase, reorganization or similar business combination, involving the Company and one or more businesses; (ii) “Common Stock” shall mean the Class A common stock and Class B common stock, par value $0.0001 per
share (“Class B Common Stock”); (iii) “Founder Shares” shall mean the 11,500,000 shares of Class B common stock issued and outstanding (up to 1,500,000 Shares of
which are subject to complete or partial forfeiture if the over-allotment option is not exercised by the Underwriters); (iv) “Initial Stockholders” shall mean the Sponsor and any Insider that holds Founder Shares; (v)
“Private Placement Warrants” shall mean the 7,500,000 Warrants that the Sponsor has agreed to purchase for an aggregate purchase price of $11,250,000, or $1.50 per Warrant, in a private placement that shall occur
simultaneously with the consummation of the Public Offering; (vi) “Public Stockholders” shall mean the holders of securities issued in the Public Offering; (vii) “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 Placement Warrants shall be deposited; (viii) “Transfer” shall mean the (a) sale of, offer to sell, contract or agreement
to sell, hypothecate, pledge, grant of any option to purchase or otherwise dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation with respect to or decrease of a call
equivalent position within the meaning of Section 16 of the Exchange Act, and the rules and regulations of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to
another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to
effect any transaction specified in clause (a) or (b); and (ix) “Warrants” shall mean the Private Placement Warrants and public warrants. 

12. The Company will maintain an insurance policy or policies providing directors’ and officers’ liability insurance, and each
Director shall be covered by such policy or policies, in accordance with its or their terms, to the maximum extent of the coverage available for any of the Company’s directors or officers. 

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

14. No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations hereunder without the prior
written consent of the other parties. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall be
binding on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees. 
 15. Nothing in this
Letter Agreement shall be construed to confer upon, or give to, any person or corporation other than the parties hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation, promise or
agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns
and permitted transferees. 
 16. This Letter Agreement may be executed in any number of original 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 by June 30, 2021;
provided further that paragraph 4 of this Letter Agreement shall survive such liquidation. 
 [Signature Page Follows]

  
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	Sincerely,
	
	M3-BRIGADE SPONSOR II LP
		
	By:	 	M3-Brigade Acquisition Partners II Corp.
		
	By:	 	/s/ Mohsin Meghji
		 	Name: Mohsin Meghji
		 	Title:   Director
		
	 By:
	 	 /s/ Mohsin Meghji

		 	 Name: Mohsin Meghji

		
	By:	 	/s/ William Gallagher
		 	Name: William Gallagher
		
	By:	 	/s/ Charles Garner
		 	Name: Charles Garner
		
	By:	 	/s/ Brian Griffith
		 	Name: Brian Griffith
		
	By:	 	/s/ Matthew Parkal
		 	Name: Matthew Parkal
		
	By:	 	/s/ Dale Gerard
		 	Name: Dale Gerard
		
	By:	 	/s/ Frank M. Garrison, Jr.
		 	Name: Frank M. Garrison, Jr.
		
	By:	 	/s/ Steven Vincent
		 	Name: Steven Vincent
		
	By:	 	/s/ Aaron Yeary
		 	Name: Aaron Yeary

			
	Acknowledged and Agreed:
	
	M3-BRIGADE ACQUISITION II CORP.
		
	By:	 	/s/ Mohsin Meghji
	 	 	Name: Mohsin Meghji
	 	 	Title:   Chairman and Chief Executive OfficerExhibit
10.1

 

ASSIGNMENT
OF DEBT AGREEMENT

 

THIS
ASSIGNMENT OF DEBT AGREEMENT dated the 22nd day of February 2021,

 

	AMONG:	 
	 	FRH
    Group Corporation
	 	555
    Anton Boulevard
	 	Suites
    150, Costa Mesa, CA 92626
	   	 
	 	(the
    “ASSIGNEE”)
	 	 
	AND:	 
	 	FRH
    Group Ltd.,
	 	2801
    & 2802 Liwa Heights, Cluster W, Jlt ,
	 	Dubai,
    UAE
	 	 
	 	(the
    “ASSIGNOR”)
	 	 
	AND:	 
	  	FDCTech,
    Inc.,
	 	200
    Spectrum Drive, Suite 300,
	 	Irvine,
    CA, 92618
	 	 
	  	(the
    “DEBTOR”)

 

WHEREAS:

 

A.
The Debtor is indebted to the Assignor according to the FRH Note(s) Agreement (Exhibit II) for the principal amount of $1,000,000
and any unpaid and accrued interest of $256,908 in U.S. funds (the “Note(s)” or “Debt”). The Note(s) is
according to the terms of FRH Note(s) with the face value in the principal $1,000,000 Coupon 6% Issue between Date February 22,
2016, and April 24, 2017, at a Conversion Price of $0.10 per share among the Debtor and the Assignor.

 

B.
The Assignor wishes to convert the Debt into Common Stock of the Debtor at a Conversion Price of $0.10 per share as per FRH Note(s)
Agreement, See Notice of Conversion (Exhibit I).

 

C.
The Assignee wishes to receive the Common Stock under its name upon Notice of Conversion. The Assignor wishes to grant, assign,
transfer and set over unto the Assignee its entire right, title, and interest in and to the Common Stock upon the terms and conditions
contained in this agreement.

 

D.
Felix R. Hong is the ultimate beneficial owner of both the Assignor and Assignee. 

 

NOW
THEREFORE THIS AGREEMENT WITNESSES that in consideration of the premises and the mutual promises, covenants, conditions, representations,
and warranties hereinafter contained and for other good and valuable consideration, the receipt of which is acknowledged and subject
to the terms and conditions hereinafter set out, the parties agree as follows:

 

		1.	REPRESENTATIONS,
                                         WARRANTIES, AND COVENANTS OF THE ASSIGNOR

 

		1.1	The
                                         Assignor represents, warrants, and covenants to the Assignee that:

 

(a)
the above premises are accurate and complete, that the Debt has not been prepaid in full or in part, and that the Assignor has
given the Debtor notice of this Assignment;

 

(b)
the full amount of the Debt is due and owing by the Debtor to the Assignor; and

 

    	 	 	 

    	 

    

 

(c)
the Assignor now has a good right, full power, and absolute authority to assign its right, title, and interest in and to the Debt
in the manner set out in Article 2 hereof according to the real intent and meaning of this agreement.

 

	 	1.2	The
    Assignor provides the representations, warranties, and covenants contained in Section 1.1 for the exclusive benefit of the
    Assignee. The Assignee may waive a breach of any one or more or in part at any time without prejudice to its rights in respect
    to any other breach of the same or any other representation or warranty or covenant. Any representations, warranties, and
    covenants contained in Article 1 will survive the signing of this agreement.

 

	2.	ASSIGNMENT
    OF THE COMMON STOCK UPON CONVERSION NOTICE AND RESTRUCTURING OF TERMS

 

	2.1	The
    Assignor grants assign, transfers, and sets over unto the Assignee his entire right, title, and interest in and to the Common
    Stock upon the Conversion Notice, including, without limitation, all rights, benefits, and advantages of the Assignor to be
    derived therefrom and all burdens, obligations, and liabilities to be derived thereunder, in consideration of the premises
    and the consideration set out in Section 2.3.
	 	 
	2.2	The
    Assignor agrees to restructure the Debt terms by changing the Debt from a demand note to conversion into Common Stock of the
    Debtor from the date of this agreement, considering the premises and the consideration set out in Section 2.3, Notice of Conversion
    (Exhibit I).
	 	 
	2.3	Notice
    of Conversion: The Assignor of the Debt with the face value in the principal $1,000,000 Coupon 6% Issue between Date February
    22, 2016, a and April 24, 2017, at a Conversion Price of $0.10 per share hereby surrenders such Debt for conversion into 12,569,080
    shares of the restricted Common Stock of FDCTech, Inc., in exchange of the principal balance of the Debt of $1,000,000 and
    any unpaid and accrued interest of $256,908 thereon representing the total unpaid principal and interest amount of such Debt
    as of February 22, 2021, and requests that the certificates for such shares be issued in the name of, and delivered to, FRH
    Group Corporation, [Address].
	 	 
	2.4	The
    Assignor acknowledges and agrees that he will transfer the Common Stock in compliance with the Securities Act of 1933, pursuant
    to a registration statement and exemption from registration under the Securities Act of 1933. The Assignor acknowledges that
    the share certificates representing the shares issued may bear a trading restriction legend and may bear any other legend
    if the Assignee reasonably requires the legend or legends to comply with state, federal, or foreign law.
	 	 
	3.	CONSENT
    OF DEBTOR
	 	 
	3.1	The
    Debtor agrees and consents to the Assignment of the Assignor’s interest in the Debt to the Assignee pursuant to this
    agreement’s terms and conditions.

 

	3.2	The
    Debtor represents, warrants, and covenants to the Assignee that (a) the full amount of the Debt is due and owing at the time
    of this agreement, (b) the Debt has not been prepaid in full or in part, and (c) any interest owing on the Debt has been paid
    in full up to February 22, 2021.
	 	 
	3.3	The
    Debtor agrees and acknowledges and that the Assignee is entitled to make a demand at any time for payment of the full amount
    of the Debt.

 

4.
COUNTERPART

 

	4.1	This
    agreement may be signed in one or more counterparts, each of which, when so signed, will be deemed an original, and such counterparts
    together will constitute one in the same instrument.

 

    	 	 	 

    	 

    

 

IN
WITNESS WHEREOF, the parties signed this agreement as of the day and year first above written.

 

	 	/s/
    Felix R. Hong	 
	 	Felix
    R. Hong, CEO	 
	 	FRH
    Group Corporation	 
	 	555
    Anton Boulevard, Suites 150	 
	 	Costa
    Mesa, 92626	 
	 	(the
    “ASSIGNEE”)	 

 

	AND:	/s/
    Felix R. Hong	 
	 	Felix
    R. Hong, Director	 
	 	FRH
    Group Ltd.,	 
	 	2801
    & 2802 Liwa Heights, Cluster W, Jlt ,	 
	 	Dubai,
    UAE	 
	 	 	 
	 	(the
    “ASSIGNOR”)	 

 

	AND:	/s/Mitchell
    M. Eaglstein	 
	 	Mitchell
    M. Ealgstein, CEO	 
	 	FDCTech,
    Inc.,	 
	 	200
    Spectrum Drive, Suite 300,	 
	 	Irvine,
    CA, 92618	 
	 	 	 
	 	(the
    “DEBTOR”)	 

 

    	 	 	 

    	 

    

 

EXHIBIT
I

 

NOTICE
OF CONVERSION

 

The
undersigned, the Holder of the #FRH Note(s) (“Note I” or “Debt”) with the face value in the principal
$1,000,000 and any unpaid and accrued interest of $256,908 thereon representing the total unpaid principal and interest amount
of such Debt as of February 22, 2021, at a Conversion Price of $0.10 per share hereby, surrenders such Debt or Note(s) for conversion
into 12,569,080 shares of the Common Stock of FDCTech, Inc., in exchange of the total unpaid principal and interest amount of
such Note as of February 22, 2021, and requests that the certificates for such shares be issued in the name of, and delivered
to,

 

FRH
Group Corporation, whose address is 555 Anton Boulevard, Suites 150, Costa Mesa, 92626.

 

Dated:
February 22, 2021

 

	 	 
	 	Felix
    R. Hong, CEO
	 	FRH
    Group Corporation
	 	(Address)

 

	Agreed
    to and Accepted this	 
	22nd
    day of February 2021	 
	 	 
	 	 
	Mitchell
    M. Eaglstein, CEO	 
	FDCTech,
    Inc.	 
	200
    Spectrum Drive, Suite 300,	 
	Irvine,
    Ca, 92618

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