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Exhibit 10.2

NOTICE OF GRANT OF PERFORMANCE-BASED RESTRICTED STOCK UNITS

    Congratulations! You have been granted an Award of Performance-Based Restricted Stock Units (the “Units”) by onsemi under the Amended and Restated Stock Incentive Plan (as amended and supplemented, the “Plan”) as follows:

GRANTEE NAME:                                            

EMPLOYEE ID:                                            

TARGET NUMBER OF UNITS GRANTED
UPON TARGET ACHIEVEMENT OF 
ALL PERFORMANCE CRITERIA:    ____________ (the “Aggregate Target Units”)    

Each Unit is equivalent to one share of common stock of ON Semiconductor Corporation (the “Company”) for purposes of determining the number of shares granted under the Plan.  The Units are further subject to forfeiture prior to vesting.  None of the Units will vest (nor will you have any rights as a stockholder with respect to the underlying shares) until you satisfy the vesting conditions described below and in the performance-based restricted stock unit award agreement attached as Exhibit A (the “Grant Agreement”).  The number of unvested Units and underlying shares is subject to adjustment under Section 5.3 of the Plan and Section 6 of the Grant Agreement.  Unless otherwise defined in this Notice of Grant of Performance-Based Restricted Stock Units (this “Notice”), capitalized terms that are defined in the Plan or in the Grant Agreement have the meanings ascribed to them in the Plan or the Grant Agreement.  Additional terms of the Award are as follows:

GRANT DATE:                                    

VESTING DATES:    Subject to Section 3 of the Grant Agreement, the applicable number of Units actually earned based on achievement of the Performance Criteria set forth below (the “Earned Units”) will vest on each of: (i) the later of date immediately following the First Determination Date and the date immediately following the filing of the Annual Report on Form 10-K for the fiscal year ending December 31, [YEAR 1], (ii) the date immediately following the Second Determination Date, and (iii) the date immediately following the Third Determination Date. The applicable number of Earned Units to vest on each such date will be determined following the application of footnotes 1 and 2 below.    

PERFORMANCE PERIOD:                January 1, [YEAR 1] to December 31, [YEAR 1]

PERFORMANCE CRITERIA:

															
	Performance Criteria Component(2)(3)
	Weighting(2) (3)
	Stretch (Applicable Upside Percentage)(1)(2)(3)
	Target (100%)(2)(3)
	Threshold (0%)(2)(3)

	[Revenue]
	16.667% of Aggregate Target Units	[___]	[___]	[___]
	[Gross Margin]
	16.667% of Aggregate Target Units	[___]	[___]	[___]
	[Operating Income]
	16.667% of Aggregate Target Units	[___]	[___]	[___]
	[New Products]
	16.667% of Aggregate Target Units	[___]	[___]	[___]
	ESG – Baseline Scope 1, 2 and 3	5.555% of Aggregate Target Units for each of Scope 1, 2 and 3 (for an aggregate of 16.665%)	[___]	[___]	[___]
	ESG – Establish Customer Experience Program	16.667% of Aggregate Target Units	[___]	[___]	[___]

(1) “Applicable Upside Percentage” means (i) with respect to the first three Performance Criteria Components (i.e., the Revenue component, the Gross Margin component and the Operating Income component), 150%, and (ii) with respect to the last three Performance Criteria Components (i.e., the New Products component, the ESG-Baseline Scope 1, 2 and 3 component and the ESG-Customer Experience Program component), 200%.

(2) With respect to each Performance Criteria Component described above, the applicable number of Units earned (based on Weighting) will be achieved as follows (subject to the TSR Modifier adjustment set forth in footnote 3):

(a)100% if the Performance Criteria Component is achieved at the applicable Target, but below the applicable Stretch;
 
(b)0% if the Performance Criteria Component is achieved (x) at or less than the applicable Threshold for the Revenue component, the Gross Margin component, the Operating Income component, the New Products component or the ESG – Customer Experience Program component, and/or (y) if the baseline is not established for a Scope for the ESG – Baseline Scope 1, 2 and 3 component; 

(c)the Applicable Upside Percentage if the Performance Criteria Component is achieved at or above the applicable Stretch; and/or

(d)at a percentage to be determined based on straight-line linear interpolation between (x) the applicable Target and the applicable Threshold if the Performance Criteria Component is achieved between the applicable Target and the applicable Threshold, or (y) the Applicable Upside Percentage and the applicable Target if the Performance Criteria Component is achieved between the applicable Stretch and the applicable Target. 

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(3)  Following the calculation under footnote 2 above, 1/3 of the units deemed earned under footnote 2 for each of the first three Performance Criteria Components (i.e., the Revenue component, the Gross Margin component and the Operating Income component) shall be further adjusted on each of the First Determination Date, the Second Determination Date and the Third Determination Date, as applicable, by a TSR Modifier. The resulting amount of units (following application of the TSR Modifier) will vest and constitute the Earned Units for the applicable Determination Date.  At each such Determination, the “TSR Modifier” shall be implemented such that:

(a)1/3 of the Units determined to be earned in accordance with footnote 2 above for the three applicable Performance Criteria Components will be multiplied at each such Determination Date by the following (and the resulting amount will be the applicable number of Earned Units that will vest on the date immediately following such Determination Date):

(i)150%, if the Company’s Relative TSR for the applicable TSR Performance Period is equal to or greater than the 75th percentile;

(ii)100%, if the Company’s Relative TSR for the applicable TSR Performance Period is (x) equal to or greater than the 25th percentile, but also (y) equal to or less than the 50th percentile;

(iii)a percentage determined based on straight-line linear interpolation, if the Company’s Relative TSR for the applicable TSR Performance Period is (x) greater than the 50th percentile, but also (y) less than the 75th percentile; and

(iv)50%, if the Company’s Relative TSR for the applicable TSR Performance Period is less than the 25th percentile;

(b)the applicable “TSR Performance Period” (i) for the Determination at the First Determination Date, will be January 1, [YEAR 1] to December 31, [YEAR 1]; (ii) for the Determination at the Second Determination Date, will be January 1, [YEAR 1] to December 31, [YEAR 2]; and (iii) for the Determination at the Third Determination Date, will be January 1, [YEAR 1] to December 31, [YEAR 3];

(c)“Relative TSR” shall mean the Company’s Total Shareholder Return as compared to the Total Shareholder Return of the group of companies listed on Appendix 1 (the “TSR Companies”).  For this purpose, “TSR” or “Total Shareholder Return” for the Company and the TSR Companies will be calculated by adding any dividends paid by the Company (or such other companies) to the change in value of the Stock (or the TSR Companies’ common stock) as between the applicable Beginning Stock Price and applicable Ending Stock Price.  The change in value shall be measured by comparing the applicable “Beginning Stock Price” and the applicable “Ending Stock Price;”   and

(d)at each Determination, (i) the “Beginning Stock Price” shall be the average closing price of the Stock (or the common stock of the TSR Companies) for the fiscal quarter ending on the day immediately preceding the start of the applicable TSR Performance Period; and (ii) the “Ending Stock Price” shall be the average closing price of the Stock (or the common stock of the TSR Companies) for the fiscal quarter ending on the last day of the applicable TSR Performance Period, except that if a Change in Control occurs during the applicable TSR Performance Period, (x) following which the Stock is no longer listed for trading on NASDAQ or another U.S. national securities trading exchange, and (y) in connection with a merger, acquisition or other transaction from which the value of a share of Stock is determinable as of the effective time of such Change in Control, then the “Ending Stock Price”  for any TSR Performance Period which has not ended shall be based on the value of a share of Stock under the applicable transaction agreement relating to such Change in Control.

For illustrative purposes only (and with no effect on this Grant Agreement or actual vesting), attached as Appendix 2 is an illustration of the implementation of an illustrative grant.
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[Performance Component Criteria calculation methods omitted]

Satisfaction of the applicable Performance Criteria noted above and the application of the applicable TSR Modifier (as applicable) shall be certified by the Human Capital and Compensation Committee (each such certification, a “Determination”):

(a)with respect to each of the Performance Criteria Components in the chart above and the first TSR Performance Period, no later than the date that the Company files its Annual Report on Form 10-K for the fiscal year ending December 31, [YEAR 1] with the Securities and Exchange Commission (the “First Determination Date”); 

(b)with respect to the second TSR Performance Period, no later than the date that the Company files its Annual Report on Form 10-K for the fiscal year ending December 31, [YEAR 2] with the Securities and Exchange Commission (the “Second Determination Date”); and

(c)with respect to the third TSR Performance Period, no later than the date that the Company files its Annual Report on Form 10-K for the fiscal year ending December 31, [YEAR 3] with the Securities and Exchange Commission (the “Third Determination Date”, and, together with the First Determination Date and the Second Determination Date, the “Determination Dates”).

Any Units that are not earned in accordance with the Performance Criteria noted above will be forfeited on the date of the Determination.

You acknowledge and agree that this Notice (including the vesting schedule above) does not constitute an express or implied promise of continued engagement as an employee or consultant for the vesting period, for any other period or at all.

You will not receive any shares of common stock upon vesting unless and until the criteria set forth in the Grant Agreement, including in respect of tax matters, are satisfied.  Please confirm your acceptance of this Award by signing below or, in the case of a Grant Agreement provided to you in electronic format, by following the instructions below: 

1.Log in to your E*TRADE stock plan account
2.From the “Accounts” menu, click on “Stock Plan (ON)”
3.Click on “Action Items” (located on the right side of the screen) 
4.Click on “Requires Acceptance”
5.Accept this Award by clicking the “ACCEPT” button

By your acceptance of this Award:

•you acknowledge receiving and reviewing this Notice, the Grant Agreement, the Plan and related documentation;
•you agree that the Units are granted under and governed by the terms and conditions of, and you agree to be bound by the terms of, this Notice and the Grant Agreement;
•you agree to accept as binding, conclusive and final all decisions or interpretations of the Plan administrator or any delegatee thereof; and
•you consent to the collection, use and transfer, in electronic or other form, of your personal data as described in the Grant Agreement for the purposes of implementing, administering and managing your participation in the Plan.

This Notice shall be interpreted and administered under the laws of the State of Delaware (without giving effect to the conflict of laws principles thereof) and upon acceptance shall be deemed to have been executed and delivered as of the grant date shown above.

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GRANTEE

        
Name:  

ON SEMICONDUCTOR CORPORATION 

By:                                  
Name:  
Title:  
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EXHIBIT A
PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT

1.Grant of Units. 
1.1.ON Semiconductor Corporation, a Delaware corporation (the “Company”), hereby grants to the grantee (the “Grantee”) set forth in the Notice of Grant of Performance-Based Restricted Stock Units (the “Notice”) an award of performance-based restricted stock units (the “Units”), as set forth in the Notice and subject to the terms and conditions in this Performance-Based Restricted Stock Unit Award Agreement (this “Grant Agreement”), the ON Semiconductor Corporation Amended and Restated Stock Incentive Plan, as amended from time to time (the “Plan”), and, if applicable, the Appendix described in Section 22.  All capitalized terms used in this Grant Agreement shall have the meaning set forth in the Plan unless a contrary meaning is set forth in the Grantee’s offer letter, employment agreement or comparable agreement, as amended from time to time (the “Employment Agreement”).
1.2.Each Unit represents the right to receive one share of common stock of the Company (“Stock”), as adjusted in accordance with Section 6 hereof, on the applicable Vesting Date (as defined below) if and to the extent that the vesting conditions established by or pursuant to the Notice, this Grant Agreement and the Plan have been satisfied.  Unless and until the Units vest, the Grantee will have no right to receive any shares of Stock (or any other payment or right) in connection with such Units.  Prior to the actual distribution of shares of Stock in settlement of any vested Units, if applicable, such Units represent unsecured obligations of the Company, payable (if at all) only from the general assets of the Company.
2.Company Obligations.  
2.1Subject to this Section 2 and Section 3 below, the vesting of Units on each scheduled vesting date set forth in the Notice (each, a “Vesting Date”) shall be subject to (i) the Grantee’s continuous service as an employee, consultant or other applicable service provider from the grant date (as set forth in Notice) (the “Grant Date”) to such Vesting Date (the “Service Condition”), and (ii) satisfaction of the performance criteria prior to such Vesting Date as described below and in the Notice.  Employment or service for only a portion of the vesting period described in the prior sentence, even if a substantial portion, will not entitle the Grantee to any proportionate vesting or avoid or mitigate a termination of rights or benefits upon or following a termination of employment or services as stated in Section 3 below or in the Plan.  
2.2For each scheduled Vesting Date, there shall be designated an associated performance period (each, a “Performance Period”) that ends no later than such Vesting Date and shall establish performance targets applicable to such Performance Period.  The Human Capital and Compensation Committee of the Board of Directors of the Company (the “Committee”) shall establish (a) performance targets applicable to such Performance Period, and (b) a methodology for determining the percentage of target number of Units (the “Target”) that would vest on the applicable Vesting Date based on the relative achievement of such performance targets (the “Performance Criteria”).  Performance Criteria shall be communicated to the Grantee promptly after being established by the Committee.
2.3The Committee hereby delegates to the applicable executives set forth in the Notice the ability to determine in good faith whether, and to what extent, the Performance Criteria set forth in this Grant Agreement have been achieved and the applicable crediting percentage (in accordance with the methodology established by the Committee) for purposes of providing the applicable number of Units that will vest and for which the Grantee will receive shares of Stock; provided, however, that only the Committee shall be entitled to make such determinations in respect of any grants of Units to the Chief Executive Officer of the Company or any senior executives of the Company (as used in the charter of the Committee).  
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3.    Termination of Employment or Services.  Subject to the provisions of any Employment Agreement between the Grantee and the Company (or one of its affiliates), if the Grantee terminates employment with the Company for any reason (including upon a termination for Cause), or otherwise ceases to perform services for the Company, any unvested Units will be canceled and forfeited as of the date of the Grantee’s termination of employment or service.  In other words, subject to the terms of any Employment Agreement between the Grantee and the Company (or one of its affiliates), the Grantee must be employed by, or performing services for, the Company on the applicable Vesting Date to receive any payment for the Units that are scheduled to vest on such applicable Vesting Date.
4.    Time and Form of Payment.  Subject to the provisions of this Grant Agreement and the Plan, as Units vest on the applicable Vesting Dates, as the case may be, the Company will deliver to the Grantee the same number of whole shares of Stock, rounded up.  Subject to Section 20 below, the Company shall deliver the vested shares of Stock (if any) within 15 days of the applicable Vesting Date.  Any Units that do not vest on the applicable Vesting Date shall terminate as of the last day of the associated Performance Period.
5.    Nontransferability.  The Units granted by this Grant Agreement shall not be transferable by the Grantee or any other person claiming through the Grantee, either voluntarily or involuntarily, except by will or the laws of descent and distribution or as otherwise provided under Article 12 of the Plan.
6.    Adjustments.  In the event of a stock dividend or in the event the Stock shall be changed into or exchanged for a different number or class of shares of stock of the Company or of another corporation, whether through reorganization, recapitalization, stock split-up, combination of shares, merger or consolidation or other similar corporate change, the Award shall be subject to adjustment, as set forth in Section 5.3 of the Plan.
7.    Delivery of Shares.  No shares of Stock shall be delivered under this Grant Agreement until: (i) the Units vest pursuant to the schedule set forth in Section 2 or pursuant to Section 3 above, as the case may be; (ii) approval of any governmental authority required in connection with this Grant Agreement, or the issuance of shares of Stock thereunder, has been received by the Company; (iii) if required by the Committee, the Grantee has delivered to the Company documentation (in form and content acceptable to the Company in its sole and absolute discretion) to assist the Company in concluding that the issuance to the Grantee of any shares of Stock under this Grant Agreement would not violate the Securities Act of 1933, as amended (the “Securities Act”), or any other applicable federal, state or local securities or other laws or regulations; (iv) the Grantee has complied with Section 13 below, in order for the proper provision for required tax withholdings to be made; and (v) the Grantee has executed and returned this Grant Agreement to the Company (which, in the case of a Grant Agreement provided to the Grantee in electronic format, requires that the Grantee click the “ACCEPT” button).  This Grant Agreement must be executed by the Grantee within 150 days following the Grant Date, unless otherwise determined by the Committee. 
8.    Securities Act.  The Company shall not be required to deliver any shares of Stock pursuant to the vesting of Units if, in the opinion of counsel for the Company, such issuance would violate the Securities Act or any other applicable federal, state or local securities laws or regulations.
9.    Voting and Other Stockholder Related Rights.  The Grantee will have no voting rights or any other rights as a stockholder of the Company (e.g., no rights to cash dividends) with respect to unvested Units until the Units become vested and the Company issues shares of Stock to the Grantee.
10.    Delivery of Documents and Notices.  Any document relating to participation in the Plan or any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given (except to the extent that this Grant Agreement provides for effectiveness only upon actual receipt of such notice) upon personal delivery, electronic delivery at the e-mail address, if any, provided for the Grantee by the Company or an Affiliate, or upon deposit in the U.S. Post Office or foreign postal service, or with a nationally recognized overnight courier service, with postage and fees prepaid, addressed to the 
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other party at the current address on file with the Company or at such other address as such party may designate in writing from time to time to the other party.
10.1    Description of Electronic Delivery.  The Plan documents – which may include but do not necessarily include the Plan, a grant notice, this Grant Agreement, any prospectus delivered pursuant to the Plan or applicable law and any reports of the Company provided generally to the Company’s stockholders – may be delivered to the Grantee electronically.  In addition, the Grantee may deliver electronically any grant notice and this Grant Agreement to the Company or to such third party involved in administering the Plan as the Company may designate from time to time.  Such means of electronic delivery may include but do not necessarily include the delivery of a link to a Company intranet or the internet site of a third party involved in administering the Plan, the delivery of the document via e-mail or such other means of electronic delivery specified by the Company.
10.2    Consent to Electronic Delivery.  The Grantee acknowledges that the Grantee has read Section 10.1 above, and consents to the electronic delivery of the Plan documents and any grant notice, as described in Section 10.1.  The Grantee acknowledges that the Grantee may receive from the Company a paper copy of any documents delivered electronically at no cost to the Grantee by contacting the Company by telephone or in writing.
11.    Administration.  This Grant Agreement is subject to the terms and conditions of the Plan and the Plan shall in all respects be administered by the Committee in accordance with the terms and provisions of the Plan.  The Committee shall have the sole and complete discretion with respect to all matters reserved to it by the Plan and decisions of the majority of the Committee with respect to the Plan and this Grant Agreement shall be final and binding upon the Grantee and the Company.  In the event of any conflict between the terms and conditions of this Grant Agreement and the Plan, the provisions of the Plan shall control.
12.    Continuation of Employment or Services.  This Grant Agreement shall not be construed to confer upon the Grantee any right to continue employment with, or to provide services to, the Company and shall not limit the right of the Company, in its sole and absolute discretion, to terminate the Grantee’s employment or services at any time.
13.    Responsibility for Taxes and Withholdings.  The Grantee acknowledges that, regardless of any action the Company or the Grantee’s actual employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, fringe benefits tax, payment on account or other tax-related items related to the Grantee’s participation in the Plan and legally applicable to the Grantee (the “Tax-Related Items”), the ultimate liability for all Tax-Related Items is and remains the Grantee’s responsibility and may exceed the amount actually withheld by the Company or the Employer.  The Grantee further acknowledges that the Company and/or the Employer: (i) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the Units, including the grant of the Units, the vesting of Units, the conversion of the Units into shares of Stock or the receipt of an equivalent cash payment, the subsequent sale of any shares of Stock acquired at vesting and the receipt of any dividends and/or dividend equivalents; and (ii) do not commit to and are under no obligation to structure the terms of the grant or any aspect of the Units to reduce or eliminate the Grantee’s liability for Tax-Related Items or achieve any particular tax result.  Further, if the Grantee has become subject to tax in more than one jurisdiction between the Grant Date and the date of any relevant taxable event, the Grantee acknowledges that the Company and/or the Employer (or former employer, as applicable) may be required to withhold or account for Tax-Related Items in more than one jurisdiction.
Prior to any relevant taxable or tax-withholding event, as applicable, the Grantee shall pay, or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy, all Tax-Related Items.  In this regard, pursuant to Article 16 of the Plan, if permissible under local law and subject to any restrictions provided by the Committee prior to the vesting of the shares of Stock, the Grantee authorizes the Company or the Employer, or their respective agents, to withhold all applicable Tax-Related Items in shares of Stock to be issued upon vesting/settlement of the Units.  Alternatively, or in addition, subject to any restrictions provided by the Committee prior to the vesting of the shares of Stock, the Grantee 
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authorizes the Company and/or the Employer, or their respective agents, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following: (i) withholding from the Grantee’s wages or other cash compensation paid to the Grantee by the Company and/or the Employer; (ii) withholding from proceeds of the sale of shares of Stock acquired upon vesting/settlement of the Units either through a voluntary sale or through a mandatory sale arranged by the Company (on the Grantee’s behalf pursuant to this authorization); (iii) personal check or other cash equivalent acceptable to the Company; or (iv) any other means as determined appropriate by the Company or the Committee.
Depending on the withholding method, the Company may withhold or account for Tax-Related Items by considering applicable minimum statutory withholding amounts or such greater amounts not to exceed the maximum statutory rate necessary, in the applicable jurisdiction, to satisfy federal, state and local withholding tax requirements (but only if withholding at a rate greater than the minimum statutory rate will not result in adverse financial or accounting consequences for the Company).  In the event that the Company withholds an amount for Tax-Related Items that exceeds the maximum withholding amount under applicable law, the Grantee shall receive a refund of such over-withheld amount in cash and shall have no entitlement to an equivalent amount in Stock.  If the obligation for Tax-Related Items is satisfied by withholding a number of shares of Stock as described herein, for tax purposes, the Grantee shall be deemed to have been issued the full number of shares of Stock subject to the Award, notwithstanding that a number of the shares of Stock are held back solely for the purpose of paying the Tax-Related Items due as a result of the Grantee’s participation in the Plan.
Finally, the Grantee shall pay to the Company or to the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold or account for as a result of the Grantee’s participation in the Plan that cannot be satisfied by the means previously described.  The Company may refuse to issue or deliver shares of Stock or the proceeds of the sale of shares of Stock if the Grantee fails to comply with his or her obligation in connection with the Tax-Related Items.
14.    Amendments.  Unless otherwise provided in the Plan or this Grant Agreement, this Grant Agreement may be amended only by a written agreement executed by the Company and the Grantee.
15.    Integrated Agreement.  Any grant notice, this Grant Agreement and the Plan shall constitute the entire understanding and agreement of the Grantee and the Company with respect to the subject matter contained herein or therein and supersedes any prior agreements, understandings, restrictions, representations or warranties between the Grantee and the Company with respect to such subject matter other than those as set forth or provided for herein or therein.  To the extent contemplated herein or therein, the provisions of any grant notice and this Grant Agreement shall survive any settlement of the Award and shall remain in full force and effect.
16.    Severability.  If one or more of the provisions of this Grant Agreement shall be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and the invalid, illegal or unenforceable provisions shall be deemed null and void; however, to the extent permissible by law, any provisions which could be deemed null and void shall first be construed, interpreted or revised retroactively to permit this Grant Agreement to be construed so as to foster the intent of this Grant Agreement and the Plan.
17.    Counterparts.  Any grant notice and this Grant Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
18.    Governing Law and Venue.  This Grant Agreement shall be interpreted and administered under the laws of the State of Delaware.  For purposes of litigating any dispute that arises under this grant or this Grant Agreement, the parties hereby submit to and consent to the jurisdiction of the State of Arizona, and agree that such litigation shall be conducted in the courts of Maricopa County, 
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Arizona, or the federal courts for the United States for the District of Arizona, where this grant is made and/or to be performed.
19.    Other.  The Grantee represents that the Grantee has read and is familiar with the provisions of the Plan and this Grant Agreement, and hereby accepts the Award subject to all of their terms and conditions.  This Agreement shall be deemed to have been accepted and signed by the Grantee and the Company as of the Grant Date upon the Grantee’s online acceptance or deemed acceptance as set forth in the Notice or otherwise agreed in writing by the Grantee.
20.    Section 409A Compliance.  Section 409A of the Code imposes an additional 20% tax, plus interest, on payments from “non-qualified deferred compensation plans.” Certain payments under this Grant Agreement could be considered to be payments under a “non-qualified deferred compensation plan.”  The additional 20% tax and interest do not apply if the payment qualifies for an exception to the requirements of Section 409A or complies with the requirements of Section 409A. The Company believes, but does not and cannot warrant or guaranty, that the payments due pursuant to this Grant Agreement comply with, or are exempt from, the requirements of Section 409A. Notwithstanding anything to the contrary in this Grant Agreement, if the Company determines that neither the short-term deferral exception nor any other exception to Section 409A applies to the payments due pursuant to this Grant Agreement, to the extent any payments are due on the Grantee’s termination of employment, the term “termination of employment” shall mean “separation from service” as defined in Treasury Regulation Section 1.409A-1(h) and to the extent required to avoid accelerated taxation and/or tax penalties under Section 409A, a Change in Control shall not be deemed to have occurred unless and until a “change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5)(i) has occurred.  In addition, if the Grantee is a “specified employee” (as defined in Treasury Regulation Section 1.409A-1(i)) and any payments due pursuant to this Grant Agreement are payable on the Grantee’s “separation from service,” then such payments shall be paid on the first business day following the expiration of the six-month period following the Grantee’s “separation from service.”  This Grant Agreement shall be operated in compliance with Section 409A or an exception thereto and each provision of this Grant Agreement shall be interpreted, to the extent possible, to comply with Section 409A or to qualify for an applicable exception.  The Grantee remains solely responsible for any adverse tax consequences imposed upon the Grantee by Section 409A.
21.    Confidentiality; Reaffirmation of Restrictive Covenants; Violation.
21.1    Confidentiality of Agreement.  The Grantee acknowledges and agrees that the terms of this Grant Agreement are considered proprietary information of the Company.  The Grantee hereby agrees that Grantee shall maintain the confidentiality of these matters to the fullest extent permitted by law and shall not disclose them to any third party. 
21.2    Exceptions.  There are limited exceptions to the above confidentiality requirement if the Grantee is providing information to government agencies, including but not limited to the Equal Employment Opportunity Commission, the National Labor Relations Board, the Occupational Safety and Health Administration (or its state equivalent) and the Securities and Exchange Commission.  This Grant Agreement does not limit the Grantee’s ability to communicate with any government agencies regarding matters within their jurisdiction or otherwise participate in any investigation or proceeding that may be conducted by any government agency, including providing documents or other information, without notice, to the government agencies.  Nothing in this Grant Agreement shall prevent the Grantee from disclosing confidential information or trade secrets that: (i) is made: (A) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney; and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  In the event that the Grantee files a lawsuit alleging retaliation by the Company for reporting a suspected violation of law, the Grantee may disclose confidential information or trade secrets related to the suspected violation of law or alleged retaliation to the Grantee’s attorney and use the confidential information or trade secrets in the court proceeding if the Grantee or the Grantee’s attorney: (x) files any document containing confidential information or trade secrets under seal; and (y) does not disclose the confidential information or trade 
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secrets, except pursuant to court order.  The Company provides this notice in compliance with, among others, the Defend Trade Secrets Act of 2016.
21.3    Reaffirmation of Restrictive Covenants.  By accepting this Award, the Grantee reaffirms his or her obligation to comply with the confidentiality, non-competition, non-solicitation, non-disclosure, confidential information and similar restrictive covenant provisions set forth in the Employment Agreement or any other agreement to which the Grantee and the Company or any Affiliate are parties.
21.4    Violation.  If the Grantee violates the confidentiality provisions of this Section 21, or the restrictive covenant provisions contained in the Employment Agreement or any other agreement to which the Grantee and the Company or any Affiliate are parties (e.g., non-competition provisions, non-solicitation provisions, non-disclosure provisions, confidential information provisions, etc.), the Company, without waiving any other remedy available, may revoke this Award without further obligation or liability, and the Grantee may be subject to disciplinary action, up to and including the Company’s termination of the Grantee’s employment.
22.    Appendix.  Notwithstanding any provisions in this Grant Agreement, the grant of the Units shall be subject to any special terms and conditions set forth in any appendix (or any appendices) to this Grant Agreement for the Grantee’s country (the “Appendix”).  Moreover, if the Grantee relocates to one of the countries included in the Appendix, the special terms and conditions for such country will apply to the Grantee, to the extent the Company determines that the application of such terms and conditions is necessary or advisable in order to comply with local law or facilitate the administration of the Plan.  The Appendix constitutes part of this Grant Agreement.
23.    Imposition of Other Requirements.  The Company reserves the right to impose other requirements on the Grantee’s participation in the Plan, on the Units and on any shares of Stock acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply with local law or facilitate the administration of the Plan, and to require the Grantee to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.  Further, the Award and profits under this Grant Agreement are subject to the Company’s compensation recovery policy or policies (and related Company practices) as such may be in effect from time to time, whether or not such policies were adopted in response to Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, as amended, and similar or related laws, rules and regulations.  In addition to the Company’s compensation recovery policy or policies, and notwithstanding anything in the Plan or any Employment Agreement to the contrary, the Company may require the Grantee to forfeit all or a portion of any unvested Units and any shares of Stock delivered pursuant to this Grant Agreement if: (i) the Grantee’s employment is terminated for Cause; or (ii) the Committee, in its sole and absolute discretion, determines that the Grantee engaged in serious misconduct that results or might reasonably be expected to result in financial or reputational harm to the Company.  The Grantee agrees to fully cooperate with the Company in assuring compliance with the provisions of this Section 23 and such compensation recovery policies and the provisions of applicable law, including, but not limited to, promptly returning any compensation subject to recovery by the Company pursuant to the provisions of this Section 23, such policies and applicable law.
24.    Data Privacy.  The Grantee hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of the Grantee's personal data as described in this Grant Agreement by and among, as applicable, the Employer and the Company and its subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing the Grantee's participation in the Plan. The Grantee understands that the Company and the Employer may hold certain personal information about the Grantee, including, but not limited to, the Grantee's name, home address and telephone number, date of birth, social insurance number, passport number, or other identification number, salary, nationality, job title, any shares of stock or directorships held in 
    11

the Company, details of all Units or any other entitlement to shares awarded, canceled, vested, unvested or outstanding in the Grantee’s favor, for the purpose of implementing, administering and managing the Plan (“Data”).

The Grantee understands that Data may be transferred to such stock plan service provider (or providers) as may be selected by the Company which is (or are) assisting in the implementation, administration and management of the Plan and awards granted thereunder. The Grantee understands that these recipients of Data may be located in the United States, or elsewhere, and that the recipients’ country (e.g., the United States) may have different data privacy laws and protections than the Grantee’s country. The Grantee understands that he or she may request a list with the names and addresses of any potential recipients of the Data by contacting the Grantee's local human resources representative. The Grantee hereby authorizes the Company and any other possible recipients which may assist the Company (presently or in the future) with implementing, administering and managing the Plan and awards granted thereunder to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing the Grantee's participation in the Plan.

The Grantee understands that Data will be held only as long as is necessary to implement, administer and manage his or her participation in the Plan. The Grantee understands that he or she may, at any time, view Data, request additional information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing the Grantee's local human resources representative. The Grantee understands, however, that refusing or withdrawing his or her consent may affect the Grantee’s ability to participate in the Plan and the Grantee’s continued eligibility for this Award or eligibility to be granted any other awards under the Plan. For more information on the consequences of the Grantee’s refusal to consent or withdrawal of consent, the Grantee understands that he or she may contact his or her local human resources representative.

    12

Appendix 1
 
			
	1.Ambarella Inc.

	1.ams AG

	1.Analog Devices, Inc.

	1.Broadcom Inc.

	1.Cirrus Logic, Inc.

	1.Diodes Incorporated

	1.Infineon Technologies AG

	1.Knowles Corporation

	1.Lattice Semiconductor Corporation

	1.Littelfuse, Inc.

	1.Macom Technolgy Solutions Holdings, Inc.

	1.Marvell Technology, Inc.

	1.Maxlinear Inc.

	1.Melexis N.V.

	1.Microchip Technology Incorporated

	1.MKS Instruments, Inc.

	1.Monolithic Power Systems, Inc.

	1.Murata Manufacturing Co., Ltd.

	1.National Instruments Corporation

	1.NXP Semiconductors N.V.

	1.Parade Technologies Ltd

	1.Power Integrations, Inc.

	1.Qorvo, Inc.

	1.Realtek Semiconductor Corp.

	1.Renesas Electronics Corp.

	1.Rohm Co. Ltd.

	1.Semtech Corporation

	1.Sensata Technologies Holdings PLC

	1.Silicon Laboratories Inc.

	1.Skyworks Solutions, Inc.

	1.STMicroelectronics N.V.

	1.Synaptics Incorporated

	1.Texas Instruments Incorporated

	1.Vishay Intertechnology, Inc.
2.Wolfspeed, Inc.

	1.Xilinx, Inc.

Unless determined otherwise by the Committee, any company the shares of which are not readily tradable on a national securities market as of the last day of the applicable TSR Performance Period shall be deemed removed from the foregoing list for purposes of that TSR Performance Period.

    13Exhibit 10.1

 

Execution Version

 

VOTING AGREEMENT

 

This Voting Agreement (this
 “Agreement”) is made as of April 26, 2022, by and among (i) Fortune Rise Acquisition Corporation, a Delaware
corporation (the “Parent”), (ii) VCV Power Sigma, Inc., a Delaware corporation (“Sigma”),
(iii) VCV Power Gamma, Inc., a Delaware corporation (“Gamma” and, together with Sigma, the “Companies”
and each individually, a “Company”) and (iii) the undersigned stockholders (the “Holders”)
of the Parent. Any capitalized term used but not defined in this Agreement will have the meaning ascribed to such term in the Merger Agreement,
as hereinafter defined.

 

WHEREAS, on April 26, 2022, the Parent, Sigma Merger Sub Inc.,
a Delaware corporation and direct, wholly owned subsidiary of the Parent (“Sigma Merger Sub”), Gamma Merger
Sub Inc., a Delaware corporation and direct, wholly owned subsidiary of the Parent (“Gamma Merger Sub” and,
together with Sigma Merger Sub, “Merger Subs” and each, a “Merger Sub”), the Companies,
and Yuan (Jerry) Tang (“Jerry Tang”), solely in his capacity as the Stockholder Representative thereunder and
for certain limited purposes set forth in Section 5.13 thereof, entered into an agreement and plan of merger (as amended from time to
time in accordance with the terms thereof, the “Merger Agreement”), pursuant to which (i) Sigma Merger Sub
will merge with and into Sigma (the “Sigma Merger”), with Sigma surviving the Sigma Merger as a wholly owned
subsidiary of the Parent, and (ii) Gamma Merger Sub will merge with and into Gamma (the “Gamma Merger” and,
together with the Sigma Merger, the “Mergers”);

 

WHEREAS, as a result
of the Mergers, among others matters, (i) all of the issued and outstanding shares of capital stock of the Companies as of immediately
prior to the consummation of the Mergers (the “Closing”) will be cancelled and exchanged for the right to receive
shares of Parent Common Stock, subject to the deposit of the applicable Gamma Earnout Consideration Shares in the Earnout Escrow Account
in accordance with the terms and conditions of the Merger Agreement and the Escrow Agreement, (ii) each Company Option shall be assumed
by the Parent and automatically converted into an option to purchase Parent Common Shares and each share of Company Restricted Stock will
be automatically converted into the right to receive shares of Parent Common Stock, subject to the same terms as were applicable prior
to the Closing, and (iii) each outstanding Company Convertible Note will be assumed by the Parent and convertible into shares of Parent
Common Stock;

 

WHEREAS, the Board
of Directors of the Parent has (a) approved and declared advisable the Merger Agreement, the ancillary documents (the “Ancillary
Documents”), the Mergers and the other transactions contemplated by any such documents (collectively, the “Transactions”),
(b) determined that the Transactions are fair to and in the best interests of the Parent and its stockholders (the “Parent
Stockholders”) and (c) recommended the approval and the adoption by the Parent Stockholders of the Merger Agreement, the
ancillary documents, the Mergers and the other Transactions; and

 

WHEREAS, as a condition
to the willingness of the Companies to enter into the Merger Agreement, and as an inducement and in consideration therefor, and in view
of the valuable consideration to be received by each Holder thereunder, and the expenses and efforts to be undertaken by the Parent and
the Companies to consummate the Transactions, the Parent, the Companies, and each Holder desire to enter into this Agreement in order
for each Holder to provide certain assurances to the Companies regarding the manner in which such Holder is bound hereunder to vote any
shares of capital stock of the Parent which such Holder beneficially owns, holds or otherwise has voting power (the “Shares”)
during the period from and including the date hereof through and including the date on which this Agreement is terminated in accordance
with its terms (the “Voting Period”) with respect to the Merger Agreement, the Mergers, the Ancillary Documents
and the Transactions.

 

     

     

    

 

NOW, THEREFORE, in
consideration of the premises set forth above, which are incorporated in this Agreement as if fully set forth below, and intending to
be legally bound hereby, the parties hereby agree as follows:

 

1. Covenant to
Vote in Favor of Transactions. Each Holder agrees, with respect to all of the Shares:

 

(a) during the Voting Period,
at each meeting of the Parent Stockholders and in each written consent or resolutions of any of the Parent Stockholders in which each
Holder is entitled to vote or consent, such Holder hereby unconditionally and irrevocably agrees to be present for such meeting and vote
(in person or by proxy), or consent to any action by written consent or resolution with respect to, as applicable, the Shares (i) in favor
of, and adopt, the Mergers, the Merger Agreement, the Ancillary Documents, any amendments to the Parent Governing Documents, and all of
the other Transactions (and any actions required in furtherance thereof), (ii) in favor of the other matters set forth in the Merger Agreement,
and (iii) to vote the Shares in opposition to: (A) any and all other proposals (x) for the acquisition of the Parent, (y) that could reasonably
be expected to delay or impair the ability of the Parent to consummate the Mergers, the Merger Agreement or any of the Transactions, or
(z) which are in competition with or materially inconsistent with the Mergers, the Merger Agreement or the Ancillary Documents; (B) other
than as contemplated by the Merger Agreement, any material change in (x) the present capitalization of the Parent or any amendment of
the Parent Charter or (y) the Parent’s corporate structure or business; or (C) any other action or proposal involving any person
or entity (a “Person”) that is intended, or would reasonably be expected, to prevent, impede, interfere with,
delay, postpone or adversely affect in any material respect the Transactions or would reasonably be expected to result in any of the conditions
to the Closing under the Merger Agreement not being fulfilled;

 

(b) to execute and deliver
all related documentation and take such other action in support of the Mergers, the Merger Agreement, any Ancillary Documents and any
of the Transactions as shall reasonably be requested by the Parent or the Companies in order to carry out the terms and provision of this
Section 1;

 

(c) not to deposit, and
to cause each Holder’s Affiliates not to deposit, except as provided in this Agreement, any Shares owned by such Holder or his/her/its
Affiliates in a voting trust or subject any Shares to any arrangement or agreement with respect to the voting of such Shares, unless specifically
requested to do so by the Parent and the Companies in connection with the Merger Agreement, the Ancillary Documents and any of the Transactions;

 

(d) except as contemplated
by the Merger Agreement or the Ancillary Documents, make, or in any manner participate in, directly or indirectly, a “solicitation”
of “proxies” or consents (as such terms are used in the rules and regulations of the SEC) or powers of attorney or similar
rights to vote, or seek to advise or influence any Person with respect to the voting of, any shares of the Parent Common Stock in connection
with any vote or other action with respect to the Transactions, other than to recommend that the Parent Stockholders vote in favor of
adoption of the Merger Agreement and the Transactions and any other proposal the approval of which is a condition to the obligations of
the parties under the Merger Agreement (and any actions required in furtherance thereof and otherwise as expressly provided by this Section
1); and

 

     

     

    

 

(e) to refrain from exercising
any dissenters’ rights or rights of appraisal under applicable law at any time with respect to the Mergers, the Merger Agreement,
the Ancillary Documents and any of the Transactions, including pursuant to the General Corporation Law of the State of Delaware (as amended,
the “DGCL”).

 

2. Grant of Proxy.
Each Holder, with respect to all of the Shares, hereby irrevocably grants to, and appoints, the Parent and any designee of the Parent
(determined in the Parent’s sole discretion) as such Holder’s attorney-in-fact and proxy, with full power of substitution
and resubstitution, for and in such Holder’s name, to vote, or cause to be voted (including by proxy or written consent, if applicable)
any Shares owned (whether beneficially or of record) by him/her/it. The proxy granted by each Holder pursuant to this Section 2
is irrevocable and is granted in consideration of the Parent entering into this Agreement and the Merger Agreement and incurring certain
related fees and expenses. Each Holder hereby affirms that such irrevocable proxy is coupled with an interest by reason of the Merger
Agreement and, except upon the termination of this Agreement in accordance with Section 5(a), is intended to be irrevocable. Each
Holder agrees, until this Agreement is terminated in accordance with Section 5(a), to vote his/her/its Shares in accordance with
Section 1 above.

 

3. Other
Covenants. 

 

(a) Transfer of Shares.
Each Holder acknowledges such Holder’s obligations under the letter agreement, dated November 2, 2021 (the “Letter Agreement”),
among the Parent and the Holders, pursuant to which such Holder has agreed to certain restrictions on the transfer of Shares, as more
fully set forth in the Letter Agreement. The Parent and each Holder party to the Letter Agreement hereby covenant and agree with the Companies
that the Companies shall be third party beneficiaries to the Letter Agreement and shall have all rights to enforce the Letter Agreement
as if parties thereto, and that no change, amendment, modification or waiver under or with respect to the Letter Agreement shall be made
without the consent of the Companies (which consent shall not be unreasonably withheld).

 

(b) Changes to Shares.
In the event of a stock dividend or distribution, or any change in the shares of capital stock of the Parent by reason of any stock dividend
or distribution, stock split, recapitalization, combination, conversion, exchange of shares or the like, the term “Shares”
shall be deemed to refer to and include the Shares as well as all such stock dividends and distributions and any securities into which
or for which any or all of the Shares may be changed or exchanged or which are received in such transaction. Each Holder agrees during
the Voting Period to notify the Parent and the Companies promptly in writing of the number and type of any additional Shares acquired
by such Holder, if any, after the date hereof.

 

(c) Compliance with
Merger Agreement. Each Holder agrees during the Voting Period not to take or agree or commit to take any action that would make any
representation and warranty of such Holder contained in this Agreement inaccurate in any material respect. Each Holder further agrees
that such Holder shall use commercially reasonable efforts to cooperate with the Parent to effect the Mergers, all other Transactions,
the Merger Agreement, the Ancillary Documents and the provisions of this Agreement. During the Voting Period, each Holder shall not authorize
or permit any of its Representatives to, directly or indirectly, take any action that the Parent is prohibited from taking pursuant to
the Merger Agreement (unless the Companies shall have consented thereto).

 

     

     

    

 

(d) Registration Statement.
During the Voting Period, each Holder agrees to provide to the Parent, the Companies and their respective Representatives any information
regarding such Holder or the Shares that is reasonably requested by the Parent, the Companies or their respective Representatives for
inclusion in the Registration Statement.

 

(e) Publicity. Each
Holder shall not issue any press release or otherwise make any public statements with respect to the Transactions or the transactions
contemplated herein without the prior written approval of the Parent and the Companies. Each Holder hereby authorizes the Parent and the
Companies to publish and disclose in any announcement or disclosure required by the SEC, Nasdaq or the Registration Statement (including
all documents and schedules filed with the SEC in connection with the foregoing), his/her/its identity and ownership of the Shares and
the nature of his/her/its commitments and agreements under this Agreement, the Merger Agreement and any other Ancillary Documents.

 

4. Representations
and Warranties of Each Holder. Each Holder hereby represents and warrants to the Parent and the Companies as follows:

 

(a) Binding Agreement.
Each Holder (i) if a natural person, is of legal age to execute this Agreement and is legally competent to do so and (ii) if not a natural
person, is (A) a corporation, limited liability company, company or partnership duly organized and validly existing under the laws of
the jurisdiction of its organization and (B) has all necessary power and authority to execute and deliver this Agreement, to perform its
obligations hereunder and to consummate the transactions contemplated hereby. If a Holder is not a natural person, the execution and delivery
of this Agreement, the performance of its obligations hereunder and the consummation of the transactions contemplated hereby by such Holder
has been duly authorized by all necessary corporate, limited liability or partnership action on the part of such Holder, as applicable.
This Agreement, assuming due authorization, execution and delivery hereof by the other parties hereto, constitutes a legal, valid and
binding obligation of each Holder, enforceable against such Holder in accordance with its terms (except as such enforceability may be
limited by bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and other similar laws of general applicability relating
to or affecting creditor’s rights, and to general equitable principles). Each Holder understands and acknowledges that the Companies
are entering into the Merger Agreement in reliance upon the execution and delivery of this Agreement by such Holder.

 

(b) Ownership of Shares.
As of the date hereof, each Holder has beneficial ownership over the type and number of the Shares set forth under Holder’s name
on the signature page hereto, is the lawful owner of such Shares, has the sole power to vote or cause to be voted such Shares, and has
good and valid title to such Shares, free and clear of any and all pledges, mortgages, encumbrances, charges, proxies, voting agreements,
liens, adverse claims, options, security interests and demands of any nature or kind whatsoever, other than those imposed by this Agreement,
applicable securities Laws or the Parent Governing Documents, as in effect on the date hereof. There are no claims for finder’s
fees or brokerage commission or other like payments in connection with this Agreement or the transactions contemplated hereby payable
by each Holder pursuant to arrangements made by such Holder. Except for the Shares and other securities of the Parent set forth under
a Holder’s name on the signature page hereto, as of the date of this Agreement, each Holder is not a beneficial owner or record
holder of any: (i) equity securities of the Parent, (ii) securities of the Parent having the right to vote on any matters on which the
holders of equity securities of the Parent may vote or which are convertible into or exchangeable for, at any time, equity securities
of the Parent or (iii) options, warrants or other rights to acquire from the Parent any equity securities or securities convertible into
or exchangeable for equity securities of the Parent.

 

     

     

    

 

(c) No Conflicts.
No filing with, or notification to, any Governmental Entity, and no consent, approval, authorization or permit of any other Person is
necessary for the execution of this Agreement by each Holder, the performance of its obligations hereunder or the consummation by it of
the transactions contemplated hereby. None of the execution and delivery of this Agreement by each Holder, the performance of his/her/its
obligations hereunder or the consummation by him/her/it of the transactions contemplated hereby shall (i) conflict with or result in any
breach of the certificate of incorporation, bylaws or other comparable organizational documents of such Holder, if applicable, (ii) result
in, or give rise to, a violation or breach of or a default under any of the terms of any contract or obligation to which such Holder is
a party or by which such Holder or any of the Shares or his/her/its other assets may be bound, or (iii) violate any applicable Law or
Order, except for any of the foregoing in clauses (i) through (iii) as would not reasonably be expected to impair such Holder’s
ability to perform its obligations under this Agreement in any material respect.

 

(d) No Inconsistent
Agreements. Each Holder hereby covenants and agrees that, except for this Agreement, such Holder (i) has not entered into, nor will
enter into at any time while this Agreement remains in effect, any voting agreement or voting trust with respect to the Shares inconsistent
with such Holder’s obligations pursuant to this Agreement, (ii) has not granted, nor will grant at any time while this Agreement
remains in effect, a proxy, a consent or power of attorney with respect to the Shares and (iii) has not entered into any agreement or
knowingly taken any action (nor will enter into any agreement or knowingly take any action) that would make any representation or warranty
of such Holder contained herein untrue or incorrect in any material respect or have the effect of preventing such Holder from performing
any of his/her/its material obligations under this Agreement.

 

5. Miscellaneous.

 

(a) Termination.
Notwithstanding anything to the contrary contained herein, this Agreement shall automatically terminate, and none of the Parent, the Companies
or the Holders shall have any rights or obligations hereunder, upon the earliest to occur of (i) the mutual written consent of the Parent,
the Companies, and the Holders, (ii) the Effective Time (following the performance of the obligations of the parties hereunder required
to be performed at or prior to the Effective Time), and (iii) the date of termination of the Merger Agreement in accordance with its terms.
The termination of this Agreement shall not prevent any party hereunder from seeking any remedies (at law or in equity) against another
party hereto or relieve such party from liability for such party’s breach of any terms of this Agreement. Notwithstanding anything
to the contrary herein, the provisions of this Section 5(a) shall survive the termination of this Agreement. 

 

(b) Binding Effect;
Assignment. This Agreement and all of the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and
their respective permitted successors and assigns. This Agreement and all obligations of each Holder are personal to such Holder and may
not be assigned, transferred or delegated by him/her/it at any time without the prior written consent of the Parent and the Companies,
and any purported assignment, transfer or delegation without such consent shall be null and void ab initio. Each of the Parent and the
Companies may freely assign any or all of its rights under this Agreement, in whole or in part, to any successor entity (whether by merger,
consolidation, equity sale, asset sale or otherwise) without obtaining the consent or approval of such Holder.

 

     

     

    

 

(c) Third Parties.
Nothing contained in this Agreement or in any instrument or document executed by any party in connection with the transactions contemplated
hereby shall create any rights in, or be deemed to have been executed for the benefit of, any Person that is not a party hereto or thereto
or a successor or permitted assign of such a party.

 

(d) Governing Law; Jurisdiction.
This Agreement and any dispute or controversy arising out of or relating to this Agreement shall be governed by and construed in accordance
with the laws of the State of New York, without regard to the conflict of law principles thereof. All Actions arising out of or relating
to this Agreement shall be heard and determined exclusively in any state or federal court located in New York, New York (or in any appellate
courts thereof) (the “Specified Courts”). Each party hereto hereby (i) submits to the exclusive jurisdiction
of any Specified Court for the purpose of any Action arising out of or relating to this Agreement brought by any party hereto and (ii) irrevocably
waives, and agrees not to assert by way of motion, defense or otherwise, in any such Action, any claim that it is not subject personally
to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or execution, that the Action is
brought in an inconvenient forum, that the venue of the Action is improper, or that this Agreement or the transactions contemplated hereby
may not be enforced in or by any Specified Court. Each party agrees that a final judgment in any Action shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner provided by Law. Each party irrevocably consents to the
service of the summons and complaint and any other process in any other action or proceeding relating to the transactions contemplated
by this Agreement, on behalf of itself, or its property, by personal delivery of copies of such process to such party at the applicable
address set forth or referred to in Section 5(g). Nothing in this Section 5(d) shall affect the right of
any party to serve legal process in any other manner permitted by applicable law.

 

(e) WAIVER OF JURY TRIAL.
EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH
RESPECT TO ANY ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY. EACH PARTY HERETO (i) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF ANY ACTION, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (ii) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION
5(e).

 

(f) Interpretation.
The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing or interpreting this
Agreement. In this Agreement, unless the context otherwise requires: (i) any pronoun used shall include the corresponding masculine, feminine
or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (ii) the term “including”
(and with correlative meaning “include”) shall be deemed in each case to be followed by the words “without limitation”;
(iii) the words “herein,” “hereto,” and “hereby” and other words of similar import shall be deemed
in each case to refer to this Agreement as a whole and not to any particular section or other subdivision of this Agreement; and (iv)
the term “or” means “and/or”. The parties have participated jointly in the negotiation and drafting of this Agreement.
Consequently, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted
jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship
of any provision of this Agreement.

 

     

     

    

 

(g) Notices. All
notices, consents, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered
(i) in person, (ii) by electronic mail or other electronic means, with affirmative confirmation of receipt, (iii) on delivery or attempted
delivery after being sent, if sent by reputable, nationally recognized overnight courier service that provides evidence of delivery or
attempted delivery, or (iv) five (5) Business Days after being mailed, if sent by registered or certified mail, pre-paid and return receipt
requested, in each case to the applicable party at the following addresses (or at such other address for a party as shall be specified
by like notice):

 

	
    If to the Parent, to:

    Fortune Rise Acquisition Corporation

    48 Bridge Street, Building A

    Metuchen, New Jersey

    Attention: Yuanmei Ma

    Email: sunnymei2005@gmail.com 
	
    with a copy (which will not constitute notice) to:

    Robinson & Cole LLP

    Chrysler East Building

    666 Third Avenue, 20th Floor

    New York, New York 10017

    Attention: Arila Zhou

    Email: azhou@rc.com

	
    If to the Companies, to:

    VCV Power Sigma, Inc.

    VCV Power Gamma, Inc.

    1540 Broadway, Suite 1010

    New York, New York 10036

    Attn: Jerry Tang

    Email: jerry.tang@vcvdigital.com
	
    with a copy (which will not constitute notice) to:

    Day Pitney LLP

    605 Third Avenue, 31st Floor

    New York, New York 10158

    Attn: Scott W. Goodman, Richard D. Harris

    Email: sgoodman@daypitney.com

    rdharris@daypitney.com

 

	If to a Holder, to: the address set forth under such Holder’s name on the signature page hereto, with a copy (which will not constitute notice) to, if not the party sending the notice, each of the Parent and the Companies (and each of their copies for notices hereunder).

 

(h) Amendments and Waivers.
Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular
instance, and either retroactively or prospectively) only with the written consent of the Parent and Companies and the Holders in the
case of an amendment and by the party granting the waiver in the case of a waiver. No failure or delay by a party in exercising any right
hereunder shall operate as a waiver thereof. No waivers of or exceptions to any term, condition, or provision of this Agreement, in any
one or more instances, shall be deemed to be or construed as a further or continuing waiver of any such term, condition, or provision.

 

     

     

    

 

(i) Severability.
In case any provision in this Agreement shall be held invalid, illegal or unenforceable in a jurisdiction, such provision shall be modified
or deleted, as to the jurisdiction involved, only to the extent necessary to render the same valid, legal and enforceable, and the validity,
legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired thereby nor shall the validity,
legality or enforceability of such provision be affected thereby in any other jurisdiction. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties will substitute for any invalid, illegal or unenforceable provision
a suitable and equitable provision that carries out, so far as may be valid, legal and enforceable, the intent and purpose of such invalid,
illegal or unenforceable provision.

 

(j) Specific Performance.
Each Holder acknowledges that its obligations under this Agreement are unique, recognizes and affirms that in the event of a breach of
this Agreement by such Holder, money damages will be inadequate and the Parent and Companies will have not adequate remedy at law, and
agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed by such Holder
in accordance with their specific terms or were otherwise breached. Accordingly, the Parent and Companies shall be entitled to an injunction
or restraining order to prevent breaches of this Agreement by each Holder and to enforce specifically the terms and provisions hereof,
without the requirement to post any bond or other security or to prove that money damages would be inadequate, this being in addition
to any other right or remedy to which such party may be entitled under this Agreement, at law or in equity.

 

(k) Expenses.
Each party shall be responsible for its own fees and expenses (including the fees and expenses of investment bankers, accountants and
counsel) in connection with the entering into of this Agreement, the performance of its obligations hereunder and the consummation of
the transactions contemplated hereby; provided, that in the event of any action arising out of or relating to this Agreement, the non-prevailing
party in any such action will pay its own expenses and the reasonable documented out-of-pocket expenses, including reasonable attorneys’
fees and costs, reasonably incurred by the prevailing party.

 

(l) No Partnership,
Agency or Joint Venture. This Agreement is intended to create a contractual relationship among each Holder, the Parent and the Companies,
and is not intended to create, and does not create, any agency, partnership, joint venture or any like relationship among the parties
hereto or among any other Parent Stockholders entering into voting agreements with the Parent or the Companies. Unless a Holder advises
the Parent and Companies to the contrary, each Holder is not affiliated with any other holder of securities of the Parent entering into
a voting agreement with the Parent or the Companies in connection with the Merger Agreement and has acted independently regarding its
decision to enter into this Agreement. Nothing contained in this Agreement shall be deemed to vest in the Parent and Companies any direct
or indirect ownership or incidence of ownership of or with respect to any Shares.

 

(m) Further Assurances.
From time to time, at another party’s request and without further consideration, each party shall execute and deliver such additional
documents and take all such further action as may be reasonably necessary or desirable to consummate the transactions contemplated by
this Agreement.

 

     

     

    

 

(n) Entire Agreement.
This Agreement (together with the Merger Agreement and the Ancillary Documents to the extent referred to herein) constitutes the full
and entire understanding and agreement among the parties with respect to the subject matter hereof, and any other written or oral agreement
relating to the subject matter hereof existing between the parties is expressly cancelled; provided, that, for the avoidance
of doubt, the foregoing shall not affect the rights and obligations of the parties under the Merger Agreement or any Ancillary Document.
Notwithstanding the foregoing, nothing in this Agreement shall limit any of the rights or remedies of the Parent or any of the obligations
of each Holder under any other agreement between such Holder and the Parent or any certificate or instrument executed by such Holder in
favor of the Parent, and nothing in any other agreement, certificate or instrument shall limit any of the rights or remedies of the Parent
or any of the obligations of such Holder under this Agreement.

 

(o) Counterparts; Facsimile.
This Agreement may also be executed and delivered by facsimile or electronic signature or by email in portable document format in two
or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

 

 

[Remainder of Page Intentionally Left Blank;
Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF,
the parties have executed this Voting Agreement as of the date first written above.

 

	 	The Parent:	 
	 	 	 
	 	FORTUNE RISE ACQUISITION CORPORATION	 
	 	 	 	 
	 	By:	/s/ Yuanmei Ma	 
	 	Name: 	Yuanmei Ma	 
	 	Title:	Chief Financial Officer	 
	 	 	 	 
	 	The Companies:	 
	 	 	 
	 	VCV POWER SIGMA, INC.	 
	 	 	 	 
	 	By:	 /s/ Yuan (Jerry) Tang	 
	 	Name: 	 Yuan (Jerry) Tang	 
	 	Title:	Chief Executive Officer	 
	 	 	 	 
	 	VCV POWER GAMMA, INC.	 
	 	 	 	 
	 	By:	 /s/ Yuan (Jerry) Tang	 
	 	Name: 	Yuan (Jerry) Tang	 
	 	Title:	Chief Executive Officer	 
	 	 	 	 

 

    [Signature Page to Voting Agreement]

     

    

 

 

	The Holder:	 
	 	 
	FORTUNE RISE SPONSOR LLC	 
	 	 	 
	By:	 /s/ Koon Keung Chan	 
	Name: Koon Keung Chan	 
	Title: Managing Member	 

 

Number and Type of Shares:

 

	Shares of Parent Common Stock:	
    (i) 505,500 shares of Class A common stock, par
    value $0.0001 per share; and

    (ii)2,000,000 shares of Class B common per share,
    par value $0.0001 per share

 

	Options and Warrants:	N/A	 

 

Address for Notice:

 

	Address:	 48 Bridge Street, Building A	 
	 	 	 
	 	 Metuchen, New Jersey	 
	 	 	 
	 	 	 
	 	 	 
	Telephone No.:	 

                                                9496685613
	 
	 	 	 
	Email:	 link_investment@aliyun.com	 

 

    [Signature Page to Voting Agreement]

     

    

 

	The Holder:	 
	 	 
	US Tiger Securities, Inc. 	 
	 	 	 
	By:	 /s/ Xuedong Tian       	 
	Name: Xuedong Tian	 
	Title: Head of ECM	 

 

Number and Type of Shares:

 

	Shares of Parent Common Stock:	
    (i) 80,000 shares of Class A common stock, par
    value $0.0001 per share; and

    (ii)122,000 shares of Class B common per share,
    par value $0.0001 per share

 

	Options and Warrants:	N/A	 

 

Address for Notice:

 

	Address:	 437 Madison Avenue	 
	 	 	 
	 	 27th Floor	 
	 	 	 
	 	 New York, NY 10022	 
	 	 	 
	Telephone No.:	 	 
	 	 	 
	Email:	 	 

 

 

    [Signature Page to Voting Agreement]

     

    

 

	The Holder:	 
	 	 
	EF Hutton Group, Division of Benchmark Investments, LLC 	 
	 	 	 
	By:	 /s/ Joseph T. Rallo      	 
	Name: Joseph T. Rallo	 
	Title: Chief Executive Officer	 

 

Number and Type of Shares:

 

	Shares of Parent Common Stock:	80,000 shares of Class A common stock, par value $0.0001 per share

 

	Options and Warrants:	N/A	 

 

Address for Notice:

 

	Address:	 590 Madison Avenue	 
	 	 	 
	 	 39th Floor	 
	 	 	 
	 	 New York, NY 10022	 
	 	 	 
	Telephone No.:	 

                                                (212) 970-5170
	 
	 	 	 
	Email:	 jrallo@efhuttongroup.com      	 

 

    [Signature Page to Voting Agreement]

     

    

 

	The Holder:	 
	 	 	 
	/s/ Yuanmei Ma	 	 
	Yuanmei Ma	 
	 	 	 	 

Number and Type of Shares:

 

	Shares of Parent Common Stock:	122,000 shares of Class B common per share, par value $0.0001 per share

 

	Options and Warrants:	N/A	 

 

Address for Notice:

 

	Address:	 727 Cypress Hills Dr.	 
	 	 	 
	 	 Encinitas	 
	 	 	 
	 	 CA  92024	 
	 	 	 
	Telephone No.:	 

                                                909-214-2482
	 
	 	 	 
	Email:	 sunnymei2005@gmail.com 	 

 

    [Signature Page to Voting Agreement]

     

    

 

	The Holder:	 
	 	 	 
	/s/ Lei Xu	 	 
	Lei Xu	 
	 	 	 	 

Number and Type of Shares:

 

	Shares of Parent Common Stock:	138,000 shares of Class B common per share, par value $0.0001 per share

 

	Options and Warrants:	N/A	 

 

Address for Notice:

 

	Address:	  1818 Linda Vista Cir	 
	 	 	 
	 	  Fullerton	 
	 	 	 
	 	  CA  92831	 
	 	 	 
	Telephone No.:	 

                                                1 (714) 497-0126
	 
	 	 	 
	Email:	 Leixu26@gmail.com	 

 

    [Signature Page to Voting Agreement]

     

    

 

	The Holder:	 
	 	 	 
	/s/ David Xianglin Li 	 	 
	David Xianglin Li	 
	 	 	 	 

Number and Type of Shares:

 

	Shares of Parent Common Stock:	20,000 shares of Class B common per share, par value $0.0001 per share

 

	Options and Warrants:	N/A	 

 

Address for Notice:

 

	Address:	  23 W 116th Street, Apt. 9A	 
	 	 	 
	 	 	 
	 	 	 
	 	 New York, NY  10026	 
	 	 	 
	Telephone No.:	 

                                                7187108321
	 
	 	 	 
	Email:	 davidxli@yahoo.com	 

 

    [Signature Page to Voting Agreement]

     

    

	
    The Holder:

     
	 
	/s/ Michael Davidov	 	 
	Michael Davidov  	 
	 	 	 	 

Number and Type of Shares:

 

	Shares of Parent Common Stock:	20,000 shares of Class B common per share, par value $0.0001 per share

 

	Options and Warrants:	N/A	 

 

Address for Notice:

 

	Address:	
     48 Bridge Street

     Building A
	 
	 	 	 
	 	 Metuchen	 
	 	 	 
	 	 NJ  08840	 
	 	 	 
	Telephone No.:	 

                                                917-825-7577
	 
	 	 	 
	Email:	 michaeldavidov@gmail.com	 

 

    [Signature Page to Voting Agreement]

     

    

 

	
    The Holder:

     
	 
	/s/ Norman C. Kristoff  	 	 
	Norman C. Kristoff  	 
	 	 	 	 

Number and Type of Shares:

 

	Shares of Parent Common Stock:	20,000 shares of Class B common per share, par value $0.0001 per share

 

	Options and Warrants:	N/A	 

 

Address for Notice:

 

	Address:	
     9 Mountain View Court

     Keene, NH 03430
	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Telephone No.:	 

                                                603-352-1003
	 
	 	 	 
	Email:	 nckristoff@gmail.com	 

 

    [Signature Page to Voting Agreement]

     

    

 

	The Holder:	 
	 	 	 
	/s/ Christy Szeto	 	 
	Christy Szeto  	 
	 	 	 	 

Number and Type of Shares:

 

	Shares of Parent Common Stock:	1,750 shares of Class B common per share, par value $0.0001 per share

 

	Options and Warrants:	N/A	 

 

Address for Notice:

 

	Address:	
     FLAT C 9/F BLK 14,

    PRISTINE VILLA, 18 PAK I0
	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	Telephone No.: 	 +852 96762558	 
	 	 	 
	Email:	 klchristy@hotmail.com	 

  

    [Signature Page to Voting Agreement]

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