Document:

Exhibit
10.9

 

Execution
Version

 

 

 

 

 

 

 

 

 

 

AMENDED AND RESTATED
REGISTRATION RIGHTS AGREEMENT

 

DATED       ,
2021

 

 

 

 

 

 

 

 

 

 

 

     

    

    

 

TABLE OF CONTENTS

 

	 	 	 	Page
	ARTICLE I DEFINITIONS	1
	1.1	Definitions	1
	 	 	 	 
	ARTICLE II REGISTRATION RIGHTS	6
	2.1	Shelf Registration	6
	2.1.1	 	Request for Registration	
	2.1.2	 	Subsequent Registration	6
	2.1.3	 	Underwritten Offering	7
	2.1.4	 	Reduction of Underwritten Offering	8
	2.1.5	 	Underwritten Offering Withdrawal	9
	2.2	Piggyback Registrations.	9
	2.2.1	 	Piggyback Rights	9
	2.2.2	 	Reduction of Underwritten Offering	10
	2.2.3	 	Piggyback Registration Withdrawal	11
	2.2.4	 	Unlimited Piggyback Registration Rights	11
	2.3	Registration on Form S-3	
	2.4	Restrictions on Registration Rights	11
	2.5	Registration Procedures	12
	2.5.1	 	Filings; Information	12
	2.5.2	 	Registration Expenses	14
	2.5.3	 	Requirements for Participation in Underwritten Offerings	15
	2.5.4	 	Suspension of Sales; Adverse Disclosure	15
	2.5.5	 	Reporting Obligations	15
	2.6	 	Indemnification and Contribution	16
	2.6.1	 	Indemnification	16
	2.6.2	 	Contribution	17
	2.7	Delay of Registration	17
	2.8	Market Stand-Off Agreement	18
	2.9	Termination of Registration Rights	18
	 	 	 	 
	ARTICLE III MISCELLANEOUS	18
	3.1	Governing Laws	18
	3.2	Counterparts	19
	3.3	Titles and Subtitles	19
	3.4	Notices	19
	3.5	Amendments	19
	3.6	Severability	20
	3.7	Entire Agreement	20
	3.8	Dispute Resolution	20
	3.9	Assignment	20

 

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AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

This Amended and Restated
Registration Rights Agreement (this “Agreement”) is entered into as of [●], 2021 by and among Faraday Future
Intelligent Electric Inc. (formerly known as Property Solutions Acquisition Corp.), a Delaware corporation (the “Company”),
and each of the investors listed on Schedule A hereto, each of which is referred to in this Agreement as an “Investor”.

 

RECITALS

 

WHEREAS, the Company and certain
of its securityholders (the “Existing Holders”) entered into that certain Registration Rights Agreement, dated as of
July 21, 2020 (the “Existing Registration Rights Agreement”), pursuant to which the Company granted to such securityholders
certain registration rights with respect to certain securities of the Company;

 

WHEREAS, the Company has entered
into that certain Agreement and Plan of Merger, dated as of January 27, 2021 (as may be amended from time to time, the “Merger
Agreement”), with PSAC Merger Sub Ltd., an exempted company with limited liability incorporated under the laws of the Cayman
Islands, and FF Intelligent Mobility Global Holdings Ltd., an exempted company with limited liability incorporated under the laws of the
Cayman Islands, pursuant to which PSAC Merger Sub Ltd. will merge with and into FF Intelligent Mobility Global Holdings Ltd. with FF Intelligent
Mobility Global Holdings Ltd. surviving as a wholly-owned subsidiary of the Company;

 

WHEREAS, pursuant to Section
6.6 of the Existing Registration Rights Agreement, the provisions, covenants and conditions set forth in the Existing Registration Rights
Agreement may be amended or modified upon the written consent of the Company and the Existing Holders; and

 

WHEREAS, in connection with
the transactions contemplated by the Merger Agreement, the Company and the Existing Holders desire to amend and restate the Existing Registration
Rights Agreement in its entirety and enter into this Agreement, pursuant to which the Company shall grant the Existing Holders and certain
new holders certain registration rights with respect to certain securities of the Company, as set forth in this Agreement.

 

NOW, THEREFORE, in consideration
of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

1.1 Definitions.
For purposes of this Agreement:

 

“Adverse Disclosure”
means any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Board, chief executive
officer or principal financial officer of the Company, after consultation with counsel to the Company, (i) would be required to be made
in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any prospectus
and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading, (ii) would not be required
to be made at such time if the Registration Statement were not being filed, and (iii) the Company has a bona fide business, financial
or legal purpose for not making such information public.

 

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“Affiliate”
shall mean with respect to a specified person, each other person that directly, or indirectly through one or more intermediaries, controls
or is controlled by, or is under common control with, the person specified; provided that no Holder shall be deemed an Affiliate of any
other Holder by reason of an investment in, or holding of Common Stock (or securities convertible, exercisable or exchangeable for share
of Common Stock) of, the Company. As used in this definition, “control” (including with correlative meanings, “controlled
by” and “under common control with”) means possession, directly or indirectly, of power to direct or cause the direction
of management or policies (whether through ownership of voting securities or by contract or other agreement).

 

“Board”
means the board of directors of the Company.

 

“Closing”
has the meaning set forth in the Merger Agreement.

 

“Common Stock”
means the Company’s common stock, $0.0001 par value per share.

 

“Company”
has the meaning set forth in the Preamble.

 

“Demanding Holder”
has the meaning set forth in Section 2.1.3.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Existing Holders” has the meaning
set forth in the Recitals.

 

“Existing Registration Rights Agreement”
has the meaning set forth in the Recitals.

 

“FF Holder Lock-up Period” means,
with respect to the Registrable Securities that are held by Season Smart, FF Top or their respective Permitted Transferees, the period
ending one hundred eighty (180) days after the date hereof.

 

“FF Top”
means FF Top Holding LLC, and any Affiliate of FF Top Holding LLC that becomes a Holder pursuant to the terms hereunder.

 

“Form S-1”
means such form under the Securities Act as in effect on the date hereof or any successor registration form under the Securities Act subsequently
adopted by the SEC.

 

“Form S-3”
means such form under the Securities Act as in effect on the date hereof or any registration form under the Securities Act subsequently
adopted by the SEC that permits forward incorporation of substantial information by reference to other documents filed by the Company
with the SEC.

 

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“Founder Shares”
shall mean the shares of Class B common stock, par value $0.0001 per share, of the Company and shall be deemed to include the shares of
Common Stock issued upon conversion thereof.

 

“Founder Shares Lock-up
Period” shall mean, with respect to the Founder Shares held by certain of the Existing Holders or their respective Permitted
Transferees, the period ending on the earlier of (A) one (1) year after the date hereof or (B) the first date the last sale price of the
Common Stock equals or exceeds $12.50 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and
the like) for any twenty (20) trading days within any thirty (30)-trading day period commencing at least 150 days after the date hereof
or (C) 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 Common Stock for cash, securities
or other property.

 

“Holder”
means any holder of Registrable Securities who is a party to this Agreement.

 

“Insider Letter”
shall mean that certain letter agreement, dated as of [●], 2019, by and among the Company, Property Solutions Acquisition Sponsor
LLC and each of the Company’s officers and directors.

 

“Investor”
has the meaning set forth in the Preamble.

 

“Lock-up Period”
shall mean the Founder Shares Lock-up Period, the Private Placement Lock-up Period and FF Holder Lock-up Period, as applicable.

 

“Merger Agreement”
has the meaning set forth in the Recitals.

 

“Misstatement”
shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement
or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus in the light of the circumstances under which
they were made not misleading.

 

“Permitted Transferees”
shall mean any Person (i) to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior to the
expiration of the Lock-up Period under the Lock-Up Agreement and any other applicable agreement between such Holder and the Company, and
to any transferee thereafter and (ii) who agrees to become bound by the transfer restrictions set forth in this Agreement.

 

“Person”
means any individual, corporation, partnership, trust, limited liability company, association or other entity.

 

“Private Placement
Lock-up Period” shall mean, with respect to Private Placement Warrants that are held by the initial purchasers of such Private
Placement Warrants or their Permitted Transferees, and any shares of Common Stock issued or issuable upon the exercise of the Private
Placement Warrants and that are held by the initial purchasers of the Private Placement Warrants or their Permitted Transferees, the period
ending thirty (30) days after the date hereof.

 

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“Private Warrants”
shall mean the warrants to purchase Common Stock contained in the units issued to (i) Property Solutions Acquisition Sponsor, LLC, pursuant
to the Subscription Agreement, dated July 21, 2020, between the Company and Property Solutions Acquisition Sponsor LLC and (ii) EarlyBirdCapital,
Inc., pursuant to the Subscription Agreement, dated July 21, 2020, between the Company and EarlyBirdCapital, Inc.

 

“Prospectus”
means the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any
and all post-effective amendments and including all material incorporated by reference in such prospectus.

 

“Registrable Securities”
means (i) the shares of Common Stock issued to a Holder upon Closing, (ii) the Private Warrants (including any shares of Common Stock
issued or issuable upon the exercise of any such Private Warrants) and (iii) any issued and outstanding shares of Common Stock, warrants
to purchase Common Stock or any other equity security (including the shares of Common Stock issued or issuable upon the exercise of any
other equity security or warrant) of the Company held by a Holder as of the date of this Agreement, and any securities issued in respect
thereof, or in substitution therefor, in connection with any share split, dividend or combination, or any reclassification, recapitalization,
merger, consolidation or similar transaction; provided, however, that as to any particular Registrable Securities, such securities
shall cease to be Registrable Securities when: (A) a Registration Statement with respect to the sale of such securities shall have become
effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with
such Registration Statement; (B) such securities shall have been otherwise transferred, new certificates or book entry positions for such
securities not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution
of such securities shall not require registration under the Securities Act; (C) such securities shall have ceased to be outstanding; (D)
such securities may be sold without registration pursuant to SEC Rule 144 promulgated under the Securities Act (or any successor rule
promulgated thereafter by the SEC) (but with no volume or other restrictions or limitations); or (E) such securities have been sold to,
or through, a broker, dealer or underwriter in a public distribution or other public securities transaction.

 

“Registration”
means a registration effected by preparing and filing a registration statement or similar document in compliance with the requirements
of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective.

 

“Registration Expenses”
means the out-of-pocket expenses of the Company in a Registration, including, without limitation, the following:

 

(a) all registration and filing
fees (including fees with respect to filings required to be made with FINRA) and any securities exchange on which the Common Stock is
then listed;

 

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(b) fees and expenses of compliance
with securities or blue sky laws (including reasonable and customary fees and disbursements of counsel for the Underwriters in connection
with blue sky qualifications of Registrable Securities);

 

(c) printing, messenger, telephone
and delivery expenses;

 

(d) reasonable fees and disbursements
of counsel for the Company; and

 

(e) reasonable fees and disbursements
of all independent registered public accountants of the Company incurred specifically in connection with such Registration.

 

“Registration Statement”
means any registration statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus
included in such registration statement, amendments (including post-effective amendments) and supplements to such registration statement,
and all exhibits to and all material incorporated by reference in such registration statement.

 

“Requesting Holder”
has the meaning set forth in Section 2.1.3.

 

"Season Smart"
means Season Smart Limited, one of the Holders, and any Affiliate of Season Smart Limited that becomes a Holder pursuant to the terms
hereunder.

 

"Season Smart Percentage"
means a percentage equal to the number of shares of equity securities of the Company owned by Season Smart and its Affiliates, divided
by the basic number of shares of equity securities of the Company outstanding.

 

“SEC” means
the Securities and Exchange Commission.

 

“SEC Rule 144”
means Rule 144 promulgated by the SEC under the Securities Act (or any successor rule promulgated thereafter by the SEC).

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.

 

“Shelf” shall mean the Form
S-1 Shelf, the Form S-3 Shelf or any Subsequent Shelf Registration, as the case may be.

 

“Shelf Registration” shall mean
a registration of securities pursuant to a registration statement filed with the SEC in accordance with and pursuant to Rule 415 promulgated
under the Securities Act (or any successor rule then in effect).

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such dealer’s
market-making activities.

 

“Underwritten Registration”
or “Underwritten Offering” means a Registration in which securities of the Company are sold to an Underwriter in a
firm commitment underwriting for distribution to the public.

 

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ARTICLE II

REGISTRATION RIGHTS

 

2.1 Shelf
Registration.

 

2.1.1 Resale Registration
Statement. As soon as practicable but no later than forty-five (45) calendar days following the Closing (the “Filing
Date”), the Company shall file a Registration Statement for a Shelf Registration on Form S-3 (the “Form S-3
Shelf”) or, if the Company is ineligible to use a Form S-3 Shelf, a Registration Statement for a Shelf Registration on
Form S-1 (the “Form S-1 Shelf”), in each case, covering the resale of all the Registrable Securities (determined
as of two business days prior to such filing) on a delayed or continuous basis and shall use its reasonable best efforts to have
such Shelf declared effective as soon as practicable after the filing thereof and no later than the earlier of (x) the ninetieth
(90th) calendar day following the Filing Date if the SEC notifies the Company that it will “review” the Shelf and (y)
the tenth (10th) business day after the date the Company is notified in writing by the SEC that such Shelf will not be
"reviewed" or will not be subject to further review. Such Shelf shall provide for the resale of the Registrable Securities
included therein pursuant to any method or combination of methods legally available to, and requested by, any Holder named therein.
The Company shall use commercially reasonable efforts to maintain a Shelf in accordance with the terms hereof, and shall use
reasonable best efforts to prepare and file with the SEC such amendments, including post-effective amendments, and supplements as
may be necessary to keep a Shelf continuously effective, available for use to permit all Holders named therein to sell their
Registrable Securities included therein and in compliance with the provisions of the Securities Act until such time as there are no
longer any Registrable Securities. In the event the Company files a Form S-1 Shelf, the Company shall use its reasonable best
efforts to convert the Form S-1 Shelf (and any Subsequent Shelf Registration) to a Form S-3 Shelf as soon as practicable after the
Company is eligible to use Form S-3.

 

2.1.2 Subsequent
Registration. If any Shelf ceases to be effective under the Securities Act for any reason at any time while Registrable Securities
are still outstanding, the Company shall, subject to Section 2.3, use its reasonable best efforts to as promptly as is reasonably
practicable cause such Shelf to again become effective under the Securities Act (including using its commercially reasonable efforts to
obtain the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use its reasonable best efforts to as
promptly as is reasonably practicable amend such Shelf in a manner reasonably expected to result in the withdrawal of any order suspending
the effectiveness of such Shelf or file an additional registration statement as a Shelf Registration (a “Subsequent Shelf Registration”)
registering the resale of all Registrable Securities (determined as of two (2) business days prior to such filing), and pursuant to any
method or combination of methods legally available to, and requested by, any Holder named therein. If a Subsequent Shelf Registration
is filed, the Company shall use its reasonable best efforts to (i) cause such Subsequent Shelf Registration to become effective under
the Securities Act as promptly as is reasonably practicable after the filing thereof (it being agreed that the Subsequent Shelf Registration
shall be an automatic shelf registration statement (as defined in Rule 405 promulgated under the Securities Act) if the Company is
a well-known seasoned issuer (as defined in Rule 405 promulgated under the Securities Act) at the most recent applicable eligibility
determination date) and (ii) keep such Subsequent Shelf Registration continuously effective, available for use to permit all Holders
named therein to sell their Registrable Securities included therein and in compliance with the provisions of the Securities Act until
such time as there are no longer any Registrable Securities. Any such Subsequent Shelf Registration shall be on Form S-3 to the extent
that the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration shall be on another appropriate form. The
Company agrees that, except for the Registrable Securities, no other securities of the Company shall be included in the Shelf Registration
and any Subsequent Shelf Registration.

 

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2.1.3 Underwritten
Offering. Subject to Section 2.1.4, Section 2.1.5 and Section 2.3, at any time and from time to time after (x)
one (1) year after the Closing, the Holders of the Registrable Securities representing a majority-in-interest of Registrable Securities
issued and outstanding (on a fully diluted basis) or (y) 180 days after the Closing, Season Smart (the holders contemplated by clauses
(x) or (y), as applicable, the “Demanding Holders”) may make a written demand for Registration under the Securities
Act of all or part of its Registrable Securities in an Underwritten Offering, provided that such offering of the Registrable Securities
held by such Holders shall involve gross proceeds reasonably expected to equal or exceed $50,000,000 and, with respect to Season Smart
pursuant to clause (y) only, such Registrable Securities does not exceed more than 10% of the outstanding shares of the Company. Any demand
for an Underwritten Offering shall specify the number of Registrable Securities proposed to be sold and the intended method(s) of distribution
thereof. The Company shall, within ten (10) days of the Company’s receipt of the Underwritten Offering, notify, in writing, all
other Holders of such demand, and each Holder who thereafter wishes to include all or a portion of such Holder’s Registrable Securities
in such Underwritten Offering (each such Holder that includes all or a portion of such Holder’s Registrable Securities in such Underwritten
Offering, a “Requesting Holder”) shall so notify the Company, in writing, within five (5) days after the receipt by
the Holder of the notice from the Company. Upon receipt by the Company of any such written notification from a Requesting Holder(s) to
the Company, such Requesting Holder(s) shall be entitled to have their Registrable Securities included in such Underwritten Offering and
the Company shall use commercially reasonable efforts to effect, as soon thereafter as practicable, the offering of all Registrable Securities
requested by the Demanding Holder(s) and Requesting Holder(s) pursuant to such Underwritten Offering. The Company shall not be obligated
to effect more than an aggregate of two (2) Underwritten Offerings annually for all Demanding Holders under clause (x) of this Section
2.1.3 or three (3) Underwritten Offerings annually for all Demanding Holders under clause (y) of this Section 2.1.3. Notwithstanding
anything in this Section 2.1.3, the Company shall not be obligated to effect an Underwritten Offering, (i) if a Piggyback Registration
for all Registrable Securities that the Demanding Holder(s) intend(s) to include in an Underwritten Offering had been available to such
Demanding Holder(s) within the ninety (90) days preceding the date of request for the Underwritten Offering, or (ii) during any period
(not to exceed ninety (90) days) following the closing of the completion of an offering of equity securities by the Company if such Underwritten
Offering would cause the Company to breach a “lock-up” or similar provision contained in the underwriting agreement for such
offering. The Demanding Holder(s) and Requesting Holder(s) shall enter into an underwriting agreement in customary form with the Underwriter(s)
selected for such Underwritten Offering by the Company and reasonably acceptable to the Demanding Holders.

 

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2.1.4 Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters for an Underwritten Offering that is to be an Underwritten Offering,
in good faith, advises the Company, the Demanding Holder(s) and the Requesting Holder(s) (if any) of such Underwritten Offering in writing
that the dollar amount or number of Registrable Securities which the Demanding Holder(s) and the Requesting Holder(s) (if any) desire
to sell, taken together with all other shares of Common Stock or other equity securities which the Company desires to sell and the shares
of Common Stock or other equity securities, if any, as to which Registration by the Company has been requested pursuant to rights of other
Holders of Registrable Securities hereunder or pursuant to written contractual registration rights held by other security holders of the
Company who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in such Underwritten
Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of
such offering (such maximum dollar amount or maximum number of such equity securities, as applicable, the “Maximum Number of
Securities”), then the Company shall include in such Underwritten Offering, as follows:

 

(a) with
respect to any Underwritten Offering effected pursuant to clause (x) of Section 2.1.3: (i) first, the Registrable Securities of the Demanding
Holder(s) and the Requesting Holder(s) (if any) (pro rata based on the respective number of Registrable Securities that each Demanding
Holder and Requesting Holder (if any) has requested be included in such Underwritten Registration and the aggregate number of Registrable
Securities that the Demanding Holders and Requesting Holders have requested be included in such Underwritten Registration) that can be
sold without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of Securities has not been
reached under the foregoing clause (i), the shares of Common Stock or other equity securities that the Company desires to sell that can
be sold without exceeding the Maximum Number of Securities; and (iii) third, to the extent that the Maximum Number of Securities has not
been reached under the foregoing clauses (i) and (ii), the shares of Common Stock or other equity securities of other Holders of Registrable
Securities hereunder or other Persons that the Company is obligated to register in a Registration pursuant to, respectively, rights of
other Holders of Registrable Securities hereunder or separate written contractual arrangements with such Persons and that can be sold
without exceeding the Maximum Number of Securities.

 

(b) with
respect to any Underwritten Offering effected pursuant to clause (y) of Section 2.1.3 or effected for the Company's account in accordance
with Section 2.2: (i) first, on an equal basis, the Registrable Securities of Season Smart, up to a number of shares equal to the Season
Smart Percentage multiplied by the Maximum Number of Securities, and the shares of Common Stock or other equity securities that the Company
desires to sell, up to the remaining Maximum Number of Securities, (ii) second, to the extent that the Maximum Number of Securities has
not been reached under the foregoing clause (i), any remaining Registrable Securities of Season Smart that Season Smart desires to sell
that can be sold without exceeding the Maximum Number of Securities, (iii) third, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clauses (i) and (ii), the Registrable Securities of the Requesting Holder(s) (if any) (pro rata
based on the respective number of Registrable Securities that each Requesting Holder (if any) has requested be included in such Underwritten
Registration and the aggregate number of Registrable Securities that the Requesting Holders have requested be included in such Underwritten
Registration) that can be sold without exceeding the Maximum Number of Securities, and (iv) fourth, to the extent that the Maximum Number
of Securities has not been reached under the foregoing clauses (i) through (iii), the shares of Common Stock or other equity securities
of other Holders of Registrable Securities hereunder or other Persons that the Company is obligated to register in a Registration pursuant
to, respectively, rights of other Holders of Registrable Securities hereunder or separate written contractual arrangements with such Persons
and that can be sold without exceeding the Maximum Number of Securities.

 

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In the event that securities of the Company that are convertible into
Common Stock are included in the offering, the calculations under this Section 2.1.4 shall include such Company securities on an
as-converted to Common Stock basis.

 

2.1.5 Underwritten
Offering Withdrawal. The Demanding Holder(s) initiating an Underwritten Offering or the Requesting Holder(s) (if any) shall have the
right to withdraw from an Underwritten Offering for any or no reason whatsoever upon written notification to the Company and the Underwriter
or Underwriters (if any) of their intention to withdraw from such Registration prior to the to the filing of the applicable “red
herring” prospectus or prospectus supplement used for marketing such Underwritten Offering. Notwithstanding anything to the contrary
in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with an Underwritten Offering
prior to its withdrawal under this Section 2.1.5. If the Demanding Holder(s) withdraw(s) from a proposed offering relating to an
Underwritten Offering in such event, then such registration shall count as an Underwritten Offering provided for in Section 2.1.3.

 

2.2 Piggyback
Registrations.

 

2.2.1 Piggyback
Rights. If at any time and from time to time after 180 days after the Closing (provided that such 180 day limitation shall not apply
to Season Smart) the Company proposes to file a Registration Statement under the Securities Act or effect an Underwritten Offering with
respect to the Registration of or an offering of equity securities, or securities or other obligations exercisable or exchangeable for,
or convertible into, equity securities, for its own account or for the account of security holders of the Company (or by the Company and
by the stockholders of the Company, including, without limitation, pursuant to Section 2.1 hereof), other than a Registration Statement
(i) filed in connection with any employee share option, share purchase or repurchase, or other benefit plan, (ii) for an exchange offer
or offering of securities solely to the Company’s existing security holders, debt holders or other creditors, (iii) for an offering
of debt that is convertible into equity securities of the Company, (iv) a registration on Form S-4 or Form S-8, or any similar or successor
registration form under the Securities Act subsequently adopted by the SEC, or (v) for a dividend reinvestment plan, then the Company
shall (x) give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable, but in no
event less than ten (10) days before the anticipated filing date of such Registration Statement, which notice shall describe the amount
and type of securities to be included in such Registration or offering, the intended method(s) of distribution, and the name of the proposed
managing Underwriter or Underwriters, if any, of the offering, and (y) offer to all of the Holders of Registrable Securities in such notice
the opportunity to register the sale of such number of Registrable Securities as such Holder may request in writing within five (5) days
following receipt of such notice (a “Piggyback Registration”), provided, that for any such registrations prior to the
180th day after the Closing, the Company shall only be obligated to notify and to offer such participation to Season Smart. To the extent
permitted by applicable securities laws, subject to Section 2.2.2, the Company shall, with respect to Season Smart, and shall use its
reasonable best efforts to, with respect to all other Holders, cause (i) such Registrable Securities to be included in such Piggyback
Registration and (ii) the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities
requested to be included in a Piggyback Registration on the same terms and conditions as any similar securities of the Company included
in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s)
of distribution thereof.

 

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All such Holders proposing to distribute their Registrable Securities
through an Underwritten Offering under this Section 2.2.1 shall enter into an underwriting agreement in customary form with the
Underwriter(s) selected for such Underwritten Offering by the Company.

 

2.2.2 Reduction
of Underwritten Offering. If the managing Underwriter or Underwriters for such Piggyback Registration that is to be an Underwritten
Offering advises, in good faith, the Company and the Holders of Registrable Securities participating in the Piggyback Registration in
writing that the dollar amount or number of shares of Common Stock or other Company’s securities which Company desires to sell,
taken together with the (i) shares of Common Stock or other Company securities, if any, as to which Registration has been demanded pursuant
to separate written contractual arrangements with Persons other than Holders of Registrable Securities hereunder, (ii) the Registrable
Securities as to which Registration has been requested under Section 2.2.1 and (iii) the shares of Common Stock or other Company
securities, if any, as to which Registration has been requested pursuant to the separate written contractual piggy-back registration rights
of other security holders of the Company (other than Holders of Registrable Securities hereunder), exceeds the Maximum Number of Securities,
then:

 

(a) If the
Registration is undertaken for Company’s account: the Company shall include in any such Piggyback Registration in accordance with
the prioritization set forth in Section 2.1.4(b);

 

(b) If the
Registration is pursuant to a request by Persons other than Demanding Holder(s), then the Company shall include in any such Registration
(i) first, the shares of Common Stock or other equity securities, if any, of such requesting Persons, other than the Holders of Registrable
Securities, which can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of
Securities has not been reached under the foregoing clause (i), the Registrable Securities of Holders exercising their rights to register
their Registrable Securities pursuant to Section 2.2.1, pro rata based on the number of Registrable Securities that each Holder
has requested be included in such Underwritten Registration and the aggregate number of Registrable Securities that the Holders have requested
to be included in such Underwritten Registration, which can be sold without exceeding the Maximum Number of Securities; (iii) third, to
the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the shares of Common Stock
or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and
(iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i), (ii) and (iii),
the shares of Common Stock or other equity securities for the account of other Persons that the Company is obligated to register pursuant
to separate written contractual arrangements with such Persons, which can be sold without exceeding the Maximum Number of Securities.

 

    10

    

    

 

2.2.3 Piggyback
Registration Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any
or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention
to withdraw from such Piggyback Registration at least five (5) business days prior to the effectiveness of the Registration Statement
filed with the SEC with respect to such Piggyback Registration. The Company (whether on its own good faith determination or as the result
of a request for withdrawal by Persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed
with the SEC in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement. Notwithstanding
anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with
the Piggyback Registration prior to its withdrawal under this Section 2.2.3.

 

2.2.4 Unlimited
Piggyback Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.2 hereof shall not
be counted as a Registration pursuant to an Underwritten Offering effected under Section 2.1 hereof.

 

2.3 Restrictions
on Registration Rights. Notwithstanding anything to the contrary contained herein, if (A) during the period starting with the date
sixty (60) days prior to the Company’s good faith estimate of the date of the filing of, and ending on a date one hundred and twenty
(120) days after the effective date of, a Company initiated Registration and provided that the Company has delivered written notice to
the Holders prior to receipt of an Underwritten Offering pursuant to Section 2.1.3 and it continues to actively employ, in good
faith, commercially reasonable efforts to cause the applicable Registration Statement to become effective; (B) with respect to an Underwritten
Offering pursuant to Section 2.1.3, the Demanding Holder(s) has (or have) requested an Underwritten Registration and the Company and the
Demanding Holder(s) is (or are) unable to obtain the commitment of Underwriters to firmly underwrite the offer; or (C) if the negotiation
or consummation of a transaction by the Issuer or its subsidiaries is pending or an event has occurred, which negotiation, consummation
or event the Issuer’s board of directors reasonably believes, upon the advice of legal counsel (which may be in-house legal counsel),
would require additional disclosure by the Issuer in the Registration Statement of material information that the Issuer has a bona fide
business purpose for keeping confidential and the non-disclosure of which in the Registration Statement would be expected, in the reasonable
determination of the Issuer’s board of directors, upon the advice of legal counsel (which may be in-house legal counsel), to cause
the Registration Statement to fail to comply with applicable disclosure requirements, then in each case the Company shall furnish to such
Holders a written notice to effect of (A), (B) or (C) and that it is therefore necessary to defer the filing of such Registration Statement.
In such event, the Company shall have the right to defer such filing for a period of not more than ninety (90) days; provided, however,
that the Company shall not defer its obligation in this manner more than one hundred and eighty (180) days in any 12-month period. Notwithstanding
anything to the contrary contained in this Agreement, no Registration shall be effected or permitted and no Registration Statement shall
become effective, with respect to any Registrable Securities held by a Holder whose Registrable Securities are subject to lock-up agreements
with the Underwriters or the Company.

 

    11

    

    

 

2.4 Registration
Procedures.

 

2.4.1 Filings;
Information. Whenever Company is required to effect the Registration of any Registrable Securities pursuant to Article II,
the Company shall use reasonable best efforts to effect the registration and sale of such Registrable Securities in accordance with the
intended plan of distribution thereof, and pursuant thereto the Company shall use reasonable best efforts to, as expeditiously as possible:

 

(a) prepare
and file with the SEC as soon as practicable a Registration Statement with respect to such Registrable Securities and use its commercially
reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered
by such Registration Statement have been sold;

 

(b) prepare
and file with the SEC such amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus,
as may be reasonably requested by the Holders of Registrable Securities registered on such Registration Statement or any Underwriter of
Registrable Securities or as may be required by the rules, regulations or instructions applicable to the registration form used by the
Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable
Securities covered by such Registration Statement are sold in accordance with the intended plan of distribution set forth in such Registration
Statement or supplement to the Prospectus;

 

(c) prior
to filing a Registration Statement or Prospectus, or any amendment or supplement thereto, furnish without charge to the Underwriters,
if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such
Registration Statement as proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all
exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each
preliminary Prospectus), and such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration
or the legal counsel of such Holders may reasonably request in order to facilitate the disposition of the Registrable Securities owned
by such Holders;

 

(d) prior
to any public offering of Registrable Securities, use its reasonable best efforts to (i) register or qualify the Registrable Securities
covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States
as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan of distribution) may
reasonably request and (ii) take such action reasonably necessary to cause such Registrable Securities covered by the Registration Statement
to be registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations
of the Company and do any and all other acts and things that may be reasonably necessary or advisable to enable the Holders of Registrable
Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions;
provided, however, that the Company shall not be required to qualify generally to do business in any jurisdiction where it would
not otherwise be required to qualify or take any action to which it would be subject to general service of process or taxation in any
such jurisdiction where it is not then otherwise so subject;

 

    12

    

    

 

(e) cause
all such Registrable Securities to be listed on each securities exchange or automated quotation system on which similar securities issued
by the Company are then listed;

 

(f) provide
a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of
such Registration Statement;

 

(g) advise
each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any
stop order by the SEC suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding for
such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal if such
stop order should be issued;

 

(h) at least
five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration Statement
or Prospectus or any document that is to be incorporated by reference into such Registration Statement or Prospectus, furnish a copy thereof
to each seller of such Registrable Securities or its counsel;

 

(i) notify
the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act,
of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes
a Misstatement, and then to correct such Misstatement as set forth in Section 2.4.4 hereof;

 

(j) permit
a representative of the Holders (such representative to be selected by a majority-in-interest of the participating Holders), the Underwriter(s),
if any, and any attorney or accountant retained by such Holders or Underwriter(s) to participate, at each such Person’s own expense,
in the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply all information
reasonably requested by any such representative, Underwriter, attorney or accountant in connection with the Registration; provided, however,
that such representative or Underwriter enters into a confidentiality agreement, in form and substance reasonably satisfactory to the
Company, prior to the release or disclosure of any such information;

 

(k) obtain
a “cold comfort” letter from the Company’s independent registered public accountants in the event of an Underwritten
Registration, in customary form and covering such matters of the type customarily covered by “cold comfort” letters as the
managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating Holders and the
applicable placement agent or sales agent, if any;

 

(l) on the
date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion and negative assurance letter,
dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent
or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to the Registration in respect of which
such opinion is being given as the participating Holders, placement agent, sales agent, or Underwriter may reasonably request and as are
customarily included in such opinions and negative assurance letters, and reasonably satisfactory to a majority-in-interest of the participating
Holders;

 

    13

    

    

 

(m) in the
event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form,
with the managing Underwriter of such Underwritten Offering;

 

(n) make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12)
months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement
which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any successor rule promulgated thereafter
by the SEC);

 

(o) if the
Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $50,000,000, use its reasonable
best efforts to make available senior executives of the Company to participate in customary “road show” presentations that
may be reasonably requested by the Underwriter(s) in any Underwritten Offering;

 

(p) otherwise,
in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the participating Holders
and the placement agent or sales agent, if any,, in connection with such Registration; and

 

(q) upon
request of a Holder, the Company shall (i) authorize the Company’s transfer agent to remove any legend on share certificates of
such Holder’s Common Stock restricting further transfer (or any similar restriction in book entry positions of such Holder) if such
restrictions are no longer required by the Securities Act or any applicable state securities laws or any agreement with the Company to
which such Holder is a party, including if such shares subject to such a restriction have been sold on a Registration Statement, (ii)
request the Company’s transfer agent to issue in lieu thereof shares of Common Stock without such restrictions to the Holder upon,
as applicable, surrender of any stock certificates evidencing such shares of Common Stock, or to update the applicable book entry position
of such Holder so that it no longer is subject to such a restriction, and (iii) use reasonable best efforts to cooperate with such Holder
to have such Holder’s shares of Common Stock transferred into a book-entry position at The Depository Trust Company, in each case,
subject to delivery of customary documentation, including any documentation required by such restrictive legend or book-entry notation.

 

2.4.2 Registration
Expenses. The Registration Expenses of all Registrations shall be borne by the Company. The Holders acknowledge that the Holders shall
bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ commissions and discounts,
brokerage fees, Underwriter marketing costs and all reasonable fees and expenses of any legal counsel representing such Holders.

 

    14

    

    

 

2.4.3 Requirements
for Participation in Underwritten Offerings. No Person may participate in any Underwritten Offering for equity securities of the Company
pursuant to a Registration initiated by the Company hereunder unless such Person (a) agrees to sell such Person’s securities on
the basis provided in any underwriting arrangements approved by the Company and (b) completes and executes all customary questionnaires,
powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably required
under the terms of such underwriting arrangements.

 

2.4.4 Suspension
of Sales; Adverse Disclosure. Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains
a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until it has received copies of
a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and
file such supplement or amendment as soon as practicable after the time of such notice), or until he, she or it is advised in writing
by the Company that the use of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration
Statement in respect of any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion
in such Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control,
the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend
use of, such Registration Statement for the shortest period of time, but in no event more than forty-five (45) days, determined in good
faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under the preceding sentence, the
Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any
Registration in connection with any sale or offer to sell Registrable Securities. The Company shall immediately notify the Holders of
the expiration of any period during which it exercised its rights under this Section 2.4.4.

 

2.4.5 Reporting
Obligations. As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company
under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace period)
all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act. The Company
further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to
time to enable such Holder to sell Common Stock held by such Holder without registration under the Securities Act within the limitation
of the exemptions provided by SEC Rule 144, including providing any legal opinions. Upon the request of any Holder, the Company shall
deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

 

    15

    

    

 

2.5 Indemnification
and Contribution.

 

2.5.1 Indemnification.

 

(a) The
Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and each
Person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses
(including, without limitation, reasonable attorneys’ fees) caused by any untrue or alleged untrue statement of material fact contained
or incorporated by reference in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement
thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein
not misleading, except insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder
expressly for use therein. The Company shall indemnify the Underwriters, their officers and directors and each Person who controls such
Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification
of the Holders.

 

(b) In connection
with any Registration Statement in which a Holder of Registrable Securities is participating, such Holder shall furnish to the Company
in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement
or Prospectus and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents and each Person
who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses (including
without limitation reasonable attorneys’ fees) resulting from any untrue statement of material fact contained in the Registration
Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission of a material fact required
to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or
omission is contained in any information or affidavit so furnished in writing by such Holder expressly for use therein. The Holders of
Registrable Securities shall indemnify the Underwriters, their officers, directors and each Person who controls such Underwriters (within
the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification of the Company. For
the avoidance of doubt, For the avoidance of doubt, the obligation to indemnify under this Section 2.5.1(b) shall be several, not joint
and several, among the Holders of Registrable Securities, and the total indemnification liability of a Holder under this Section 2.5.1(b)
shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable Securities pursuant to
such Registration Statement.

 

(c) Any
Person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect to
which it seeks indemnification (provided that the failure to give prompt notice shall not impair any Person’s right to indemnification
hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such indemnified party’s
reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit
such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense
is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its
consent (but such consent shall not be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume
the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such
indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist
between such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without
the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all
respects by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which
settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release
from all liability in respect to such claim or litigation.

 

    16

    

    

 

(d) The
indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on
behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and shall survive the transfer
of equity securities.

 

2.5.2 Contribution.

 

(a) If the
indemnification provided under Section 2.5.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless
an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party,
in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of
such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying
party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party
and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or
alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by, or relates to information
supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent,
knowledge, access to information and opportunity to correct or prevent such action; provided, however, that the liability of any
Holder under this Section 2.5.2(a) shall be limited to the amount of the net proceeds received by such Holder in such offering
giving rise to such liability.

 

(b) The
amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject
to the limitations set forth in Sections 2.5.1(a), 2.5.1(b) and 2.5.1(c) above, any legal or other fees, charges
or expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would
not be just and equitable if contribution pursuant to this Section 2.5.2 were determined by pro rata allocation or by any other
method of allocation, which does not take account of the equitable considerations referred to in this Section 2.5.2. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant
to this Section 2.5.2 from any person who was not guilty of such fraudulent misrepresentation.

 

2.6 Delay
of Registration. No Holder shall have any right to obtain or seek an injunction restraining or otherwise delaying any Registration
pursuant to this Agreement as the result of any controversy that might arise with respect to the interpretation or implementation of this
Article II.

 

    17

    

    

 

2.7 Market
Stand-Off Agreement. Each Holder hereby agrees that it will not, without the prior written consent of the managing Underwriter or
Underwriters, with respect to any Company-initiated Underwritten Offering, during the period, not to exceed 90 days with respect to any
Underwritten Offering, commencing on the date of the final Prospectus relating to the Registration by the Company of shares of its equity
securities under the Securities Act on a registration statement on Form S-1 or Form S-3, and ending on the date specified by the managing
Underwriter or Underwriters on (1) the publication or other distribution of research reports and (2) analyst recommendations and opinions,
including, but not limited to, the restrictions contained in applicable FINRA rules (or any successor provisions or amendments thereto)
(i) lend; offer; pledge; sell; contract to sell; sell any option or contract to purchase; purchase any option or contract to sell; grant
any option, right, or warrant to purchase; or otherwise transfer or dispose of, directly or indirectly, any Common Stock or any securities
convertible into or exercisable or exchangeable (directly or indirectly) for Common Stock held immediately before the effective date of
the Registration statement for such offering or (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 such securities, whether any such transaction described in clause (i) or (ii) above
is to be settled by delivery of securities, in cash, or otherwise, except as expressly permitted by lock-up agreements or in the event
the managing Underwriters otherwise agree by written consent. The Underwriters in connection with such Registration are intended third-party
beneficiaries of this Section 2.7 and shall have the right, power and authority to enforce the provisions hereof as though they
were a party hereto. Each Holder further agrees to execute such lock-up agreements as may be reasonably requested by the Underwriters
or managing Underwriter in connection with such Registration that are consistent with this Section 2.7 or that are necessary to
give further effect thereto.

 

2.8 Termination
of Registration Rights. The right of any Holder to request inclusion of Registrable Securities in any Registration pursuant to Article
II shall terminate on the earlier of the date on which (x) all of the Registrable Securities held by such Holder hereof have been
sold pursuant to a Registration Statement (but in no event prior to the applicable period referred to in Section 4(a)(3) of the Securities
Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the SEC)) or (y) all of the Holders of the Registrable Securities
are permitted to sell the Registrable Securities under SEC Rule 144 (or any similar provision) under the Securities Act without limitation
on the amount of securities sold or the manner of sale. The provisions of Section 2.4.5 and Section 2.5 shall survive such
termination.

 

ARTICLE III

MISCELLANEOUS

 

3.1 Governing
Laws. This Agreement shall be governed by the internal law of the State of New York, without regard to conflict of law principles
that would result in the application of any law other than the law of the State of New York.

 

3.2 Determination
of Damages. The parties hereby acknowledge that, with respect to the determination of damages for any breach by the Company of its
obligations under Section 2, the value of damages shall be the difference between the trading price for the applicable Registrable Securities
had the obligations been complied with, and the actual sale price for such Registrable Securities once such Registrable Securities are
actually able to be sold by the applicable Holder.

 

    18

    

    

 

3.3 Counterparts.
This Agreement may be executed in multiple counterparts, including by means of facsimile or PDF counterparts, each of which shall be deemed
an original, but all of which together shall constitute the same instrument.

 

3.4 Titles
and Subtitles. The titles and subtitles used in this Agreement are for convenience only and are not to be considered in construing
or interpreting this Agreement.

 

3.5 Notices.
Any notice, designation, request, request for consent or consent provided for in this Agreement shall be in writing and shall be either
personally delivered, sent by electronic mail or facsimile or sent by reputable overnight courier service (charges prepaid) to the Company
at the address set forth below and to any other recipient at the address indicated on the Company’s records, or at such address
or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party. Notices and
other such documents will be deemed to have been given or made hereunder when delivered personally or sent by electronic mail or facsimile
(receipt confirmed) and one (1) business day after deposit with a reputable overnight courier service.

 

(a) If to
the Company, to:

 

c/o Faraday & Future

18455 S. Figueroa Street

Los Angeles, CA 90248

Attention: General Counsel

E-mail: jarret.johnson@ff.com

 

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

 

Sidley Austin LLP

1999 Avenue of the Stars, 17th Floor

Los Angeles, California 90067

Attention: Vijay S. Sekhon, Esq.

Email: vsekhon@sidley.com

 

or to such other Person or address as the Company shall furnish
to the Holders in writing.

 

(b) If to
any Holder, to such address as indicated on the Schedule of Investors attached as Schedule A hereto or to such other Person or address
as the Holder shall furnish to the Company in writing.

 

3.6 Amendments.
This Agreement may be amended only by an instrument in writing executed by the Company and the Holders holding a majority of the Registrable
Securities collectively held by them. Any such amendment will apply to all Holders equally, without distinguishing between them, provided,
however, that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder or group of
affiliated Holders, solely in his, her or its capacity as a holder of Common Stock or Private Warrants, in a manner that is materially
different from the other Holders (in such capacity) shall require the consent of the Holder or group of affiliated Holders so affected.

 

    19

    

    

 

3.7 Severability.
The invalidity or unenforceability of any specific provision of this Agreement shall not invalidate or render unenforceable any of its
other provisions. Any provision of this Agreement held invalid or unenforceable shall be deemed reformed, if practicable, to the extent
necessary to render it valid and enforceable and to the extent permitted by law and consistent with the intent of the parties to this
Agreement.

 

3.8 Entire
Agreement. This Agreement constitutes the entire agreement and understanding of the parties with respect to the transactions contemplated
hereby and thereby. The registration rights granted under this Agreement supersede any registration, qualification or similar rights granted
to one or more Holders under any other agreement with respect to any of the Registrable Securities, and any of such preexisting registration
rights are hereby superseded.

 

3.9 Dispute
Resolution. The parties to this Agreement hereby agree to submit to the jurisdiction of the courts of any New York State or United
States Federal court sitting in The City of New York, Borough of Manhattan and appellate courts thereof in any action or proceeding arising
out of or relating to this Agreement.

 

3.10 Assignment.
Other than Permitted Transferees or any transferee of all Registrable Securities of a Holder, no Holder shall be permitted to assign or
transfer any right or obligation under this Agreement without the prior written consent of the Company.

 

    20

    

    

 

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

 

	 	COMPANY:
	 	 
	 	[_______________]
	 	 	 
	 	By:	                          
	 	 	Name:
	 	 	Title:

 

     

     

    

 

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

 

	 	INVESTORS 
	 	 
	 	FF TOP HOLDING LTD.
	 	 	 
	 	By:	                          
	 	 	Name:
	 	 	Title:

 

     

     

    

 

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

 

	 	INVESTORS
	 	 
	 	[●]
	 	 	 
	 	By:	                    
	 	 	Name:
	 	 	Title:

 

     

     

    

 

SCHEDULE A

 

INVESTORS1

 

	Investors	 	Notice Address
	 	 	 
	FF Top Holding Ltd.	 	
    [ADDRESS]

    Attention: [●]

    E-mail: [●]

	 	 	 
	Season Smart Limited	 	
    [ADDRESS]

    Attention: [●]

    E-mail: [●]

	 	 	 
	Property Solutions Acquisition Sponsor, LLC	 	
    [ADDRESS]

    Attention: [●]

    E-mail: [●]

	 	 	 
	EarlyBirdCapital, Inc.	 	
    [ADDRESS]

    Attention: [●]

    E-mail: [●]

 

 

 

To also include each current officer and director of PSAC.Exhibit 10.10

 

Final Version

 

FORM OF SUBSCRIPTION
AGREEMENT

 

This SUBSCRIPTION AGREEMENT
(this “Subscription Agreement”) is entered into this 27th day of January, 2021, by and among Property
Solutions Acquisition Corp., a Delaware corporation (the “Issuer”), and the undersigned (“Subscriber”
or “you”). Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed
thereto in the Merger Agreement (as defined below).

 

WHEREAS, the Issuer,
PSAC Merger Sub Ltd., an exempted company with limited liability incorporated under the laws of the Cayman Islands and a wholly
owned subsidiary of the Issuer (“Cayman Merger Sub”), and FF Intelligent Mobility Global Holdings Ltd., an
exempted company with limited liability incorporated under the laws of the Cayman Islands (the “Company”),
will, immediately following the execution of this Subscription Agreement, enter into that certain Agreement and Plan of Merger,
dated as of January 27th, 2021 (as amended, modified, supplemented or waived from time to time in accordance with its
terms, the “Merger Agreement”), pursuant to which Cayman Merger Sub will be merged with and into the Company,
with the Company surviving as a wholly owned subsidiary of the Issuer (the “Merger”), on the terms and subject
to the conditions set forth therein (the Merger, together with the other transactions contemplated by the Merger Agreement, the
“Transactions”);

 

WHEREAS, in connection
with the Transactions, Subscriber desires to subscribe for and purchase from the Issuer that number of (i) shares of the Issuer’s
common stock, par value $0.0001 per share (the “common stock”), set forth on the signature page hereto (the
“Shares”) for a purchase price of $10.00 per share, for the aggregate purchase price set forth on Subscriber’s
signature page hereto (the “Purchase Price”), and the Issuer desires to issue and sell to Subscriber the Shares
in consideration of the payment of the Purchase Price therefor by or on behalf of Subscriber to the Issuer, all on the terms and
conditions set forth herein; and

 

WHEREAS, certain
other “qualified institutional buyers” (as defined in Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”)) or “accredited investors” (within the meaning of Rule 501(a) under the
Securities Act) (each, an “Other Subscriber”) have, severally and not jointly, entered into separate
subscription agreements with the Issuer (the “Other Subscription Agreements”), pursuant to which such
Other Subscribers have agreed to purchase Issuer’s common stock on the date of the consummation of the Transactions
(such date, the “Closing Date”) at the same per share purchase price as the Subscriber, and the aggregate
amount of securities to be sold by the Issuer pursuant to this Subscription Agreement and the Other Subscription Agreements
equals, as of the date hereof, 77,500,000 shares of Issuer’s common stock.

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions, herein contained, and
intending to be legally bound hereby, the parties hereto hereby agree as follows:

 

1. Subscription.
Subject to the terms and conditions hereof, at the Closing, Subscriber hereby agrees to subscribe for and purchase, and the Issuer
hereby agrees to issue and sell to Subscriber, upon the payment of the Purchase Price, the Shares (such subscription and issuance,
the “Subscription”).

 

     

     

    

  

2. Representations,
Warranties and Agreements.

 

2.1 Subscriber’s
Representations, Warranties and Agreements. To induce the Issuer to issue the Shares to Subscriber, Subscriber hereby represents
and warrants to the Issuer and acknowledges and agrees with the Issuer as follows:

 

2.1.1 Subscriber
has been duly formed or incorporated and is validly existing and in good standing under the laws of its jurisdiction of incorporation
or formation, with power and authority to enter into, deliver and perform its obligations under this Subscription Agreement.

 

2.1.2 This
Subscription Agreement has been duly authorized, validly executed and delivered by Subscriber. This Subscription Agreement is
enforceable against Subscriber in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium or other laws relating to or affecting the rights of creditors generally,
and (ii) principles of equity, whether considered at law or equity.

 

2.1.3 The
execution, delivery and performance by Subscriber of this Subscription Agreement and the consummation of the transactions contemplated
herein do not and will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute
a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets
of Subscriber or any of its subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, loan agreement, lease,
license or other agreement or instrument to which Subscriber or any of its subsidiaries is a party or by which Subscriber or any
of its subsidiaries is bound or to which any of the property or assets of Subscriber or any of its subsidiaries is subject, which
would reasonably be expected to prevent or delay Subscriber’s timely performance of its obligations under this Subscription
Agreement (a “Subscriber Material Adverse Effect”), (ii) result in any violation of the provisions of the organizational
documents of Subscriber or any of its subsidiaries or (iii) result in any violation of any statute or any judgment, order, rule
or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over Subscriber or any of
its subsidiaries or any of their respective properties that would reasonably be expected to have a Subscriber Material Adverse
Effect.

 

2.1.4 Subscriber
(i) is a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or an “accredited
investor” (within the meaning of Rule 501(a) under the Securities Act) satisfying the applicable requirements set forth
on Schedule I, (ii) is acquiring the Shares only for its own account and not for the account of others, or if Subscriber
is subscribing for the Shares as a fiduciary or agent for one or more investor accounts, each owner of such account is a “qualified
institutional buyer” or an accredited investor and Subscriber has full investment discretion with respect to each such account,
and the full power and authority to make the acknowledgements, representations, warranties and agreements herein on behalf of
each owner of each such account and (iii) is not acquiring the Shares with a view to, or for offer or sale in connection with,
any distribution thereof in violation of the Securities Act (and shall provide the requested information on Schedule I
following the signature page hereto). Subscriber is not an entity formed for the specific purpose of acquiring the Shares.

 

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2.1.5 Subscriber
understands that the Shares are being offered in a transaction not involving any public offering within the meaning of the Securities
Act and that the Shares have not been registered under the Securities Act except as otherwise required by this Subscription Agreement.
Subscriber understands that the Shares may not be resold, transferred, pledged or otherwise disposed of by Subscriber absent an
effective registration statement under the Securities Act, except (i) to the Issuer or a subsidiary thereof, (ii) to non-U.S.
persons pursuant to offers and sales that occur solely outside the United States within the meaning of Regulation S under the
Securities Act or (iii) pursuant to another applicable exemption from the registration requirements of the Securities Act, and
in the case of each of clauses (i) and (iii), in accordance with any applicable securities laws of the states and other jurisdictions
of the United States, and that any certificates or book entries representing the Shares shall contain a legend to such effect.
Subscriber acknowledges that the Shares will not be eligible for resale pursuant to Rule 144A promulgated under the Securities
Act. Subscriber understands and agrees that as a result of the transfer restrictions set forth herein, Subscriber may not be able
to readily resell the Shares and may be required to bear the financial risk of an investment in the Shares for an indefinite period
of time. Subscriber understands that it has been advised to consult legal counsel prior to making any offer, resale, pledge or
transfer of any of the Shares.

 

2.1.6 Subscriber
understands and agrees that Subscriber is purchasing the Shares directly from the Issuer. Subscriber further acknowledges that
there have been no representations, warranties, covenants or agreements made to Subscriber by the Issuer, the Company or any of
their respective affiliates, officers, directors, employees, agents or representatives, expressly or by implication, other than
those representations, warranties, covenants and agreements expressly set forth in this Subscription Agreement, and Subscriber
is not relying on any representations, warranties or covenants other than those expressly set forth in this Subscription Agreement.

 

2.1.7 Subscriber
represents and warrants that its acquisition and holding of the Shares will not constitute or result in a non-exempt prohibited
transaction under Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or any applicable similar law.

 

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2.1.8 In
making its decision to purchase the Shares, Subscriber represents that it has relied solely upon independent investigation made
by Subscriber and the Issuer’s representations, warranties and agreements in Section 2.2 hereof. Without limiting the
generality of the foregoing, Subscriber has not relied on any statements or other information provided by anyone other than the
Issuer and its representatives concerning the Issuer or the Shares or the offer and sale of the Shares. Subscriber acknowledges
and agrees that Subscriber has received access to and has had an adequate opportunity to review, such financial and other information
as Subscriber deems necessary in order to make an investment decision with respect to the Shares, including with respect to the
Issuer, the Company and the Transactions, and made its own assessment and is satisfied concerning the relevant tax and other economic
considerations relevant to the Subscriber’s investment in the Shares. Subscriber acknowledges that it has reviewed the documents
made available to the Subscriber by the Company. Subscriber represents and agrees that Subscriber and Subscriber’s professional
advisor(s), if any, have had the full opportunity to ask such questions, receive such answers and obtain such information as Subscriber
and such Subscriber’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect
to the Shares. Subscriber acknowledges that Credit Suisse Securities (USA) LLC (“Credit Suisse”), EarlyBirdCapital,
Inc. and Stifel Nicolaus & Company, Incorporated and each of their respective affiliates (collectively, the “Placement
Agents” and each, a “Placement Agent”) and their respective directors, officers, employees, representatives
and controlling persons have made no independent investigation with respect to the Issuer, the Company or the Shares or the accuracy,
completeness or adequacy of any information supplied to the Subscriber by the Issuer or the Company. Subscriber acknowledges that
(i) it has not relied on any statements or other information provided by the Placement Agents or any of the respective Placement
Agents’ affiliates with respect to its decision to invest in the Shares, including information related to the Issuer, the
Company, the Shares and the offer and sale of the Shares, and (ii) none of the Placement Agents nor any of their respective affiliates
have prepared any disclosure or offering document in connection with the offer and sale of the Shares. Subscriber further acknowledges
that the information provided to Subscriber is preliminary and subject to change. Subscriber understands and acknowledges that
Credit Suisse is also acting as an equity capital markets advisor to the Company or its affiliates in relation to the Transactions.
Subscriber understands and acknowledges that Credit Suisse’s role as equity capital markets advisor to the Company or its
affiliates may give rise to potential conflicts of interest or the appearance thereof.

 

2.1.9 Subscriber
acknowledges that none of the Placement Agents has acted as its financial advisor or fiduciary. Subscriber acknowledges that the
Shares are not being offered in a manner involving a public offering under, or in a distribution in violation of, the Securities
Act, or any state securities laws.

 

2.1.10 Subscriber
acknowledges that it is aware that there are substantial risks incident to the purchase and ownership of the Shares. Subscriber
has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an
investment in the Shares, and Subscriber has sought such financial, accounting, legal and tax advice as Subscriber has considered
necessary to make an informed investment decision. Subscriber (i) is an institutional account as defined in FINRA Rule 4512(c),
(ii) is a sophisticated investor, experienced in investing in private equity transactions and capable of evaluating investment
risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities,
and (iii) has exercised independent judgment in evaluating its participation in the purchase of the Shares. Subscriber understands
and acknowledges that the purchase and sale of the Shares hereunder meets (i) the exemptions from filing under FINRA Rule 5123(b)(1)(A)
and (ii) the institutional customer exemption under FINRA Rule 2111(b).

 

2.1.11 Alone,
or together with any professional advisor(s), Subscriber represents and acknowledges that Subscriber has adequately analyzed and
fully considered the risks of an investment in the Shares and determined that the Shares are a suitable investment for Subscriber
and that Subscriber is able at this time and in the foreseeable future to bear the economic risk of a total loss of Subscriber’s
investment in the Issuer. Subscriber acknowledges specifically that a possibility of total loss exists.

 

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2.1.12 Subscriber
understands and agrees that no federal or state agency has passed upon or endorsed the merits of the offering of the Shares or
made any findings or determination as to the fairness of an investment in the Shares.

 

2.1.13 Subscriber
represents and warrants that Subscriber is not (i) a person or entity named on the List of Specially Designated Nationals and
Blocked Persons administered by the U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”)
or in any Executive Order issued by the President of the United States and administered by OFAC (“OFAC List”),
or a person or entity prohibited by any OFAC sanctions program, (ii) a Designated National as defined in the Cuban Assets Control
Regulations, 31 C.F.R. Part 515 or (iii) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank.
Subscriber agrees to provide law enforcement agencies, if requested thereby, such records as required by applicable law, provided
that Subscriber is permitted to do so under applicable law. If Subscriber is a financial institution subject to the Bank Secrecy
Act (31 U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT Act of 2001 (the “PATRIOT
Act”), and its implementing regulations (collectively, the “BSA/PATRIOT Act”), Subscriber represents
that it maintains policies and procedures reasonably designed to comply with applicable obligations under the BSA/PATRIOT Act.
Subscriber also represents that, to the extent required, it maintains policies and procedures reasonably designed for the screening
of its investors against the OFAC sanctions programs, including the OFAC List. Subscriber further represents and warrants that,
to the extent required, it maintains policies and procedures reasonably designed to ensure that the funds held by Subscriber and
used to purchase the Shares were legally derived.

 

2.1.14 If
Subscriber is an employee benefit plan that is subject to Title I of ERISA, a plan, an individual retirement account or other
arrangement that is subject to section 4975 of the Code or an employee benefit plan that is a governmental plan (as defined in
section 3(32) of ERISA), a church plan (as defined in section 3(33) of ERISA), a non-U.S. plan (as described in section 4(b)(4)
of ERISA) or other plan that is not subject to the foregoing but may be subject to provisions under any other federal, state,
local, non-U.S. or other laws or regulations that are similar to such provisions of ERISA or the Code, or an entity whose underlying
assets are considered to include “plan assets” of any such plan, account or arrangement (each, a “Plan”)
subject to the fiduciary or prohibited transaction provisions of ERISA or section 4975 of the Code, Subscriber represents and
warrants that neither the Issuer, the Company, nor any of their respective affiliates (the “Transaction Parties”)
has acted as the Plan’s fiduciary, or has been relied on for advice, with respect to its decision to acquire and hold the
Shares, and none of the Transaction Parties shall at any time be relied upon as the Plan’s fiduciary with respect to any
decision to acquire, continue to hold or transfer the Shares.

 

2.1.15 Except
(i) as expressly disclosed in a Schedule 13D or Schedule 13G (or amendments thereto) filed by Subscriber with the Securities and
Exchange Commission (the “Commission”) with respect to the beneficial ownership of the Issuer’s common
stock prior to the date hereof and (ii) as a result of the entry into this Subscription Agreement, Subscriber is not currently
(and at all times through Closing will refrain from being or becoming) a member of a “group” (within the meaning of
Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),
or any successor provision), acting for the purpose of acquiring, holding or disposing of equity securities of the Issuer (within
the meaning of Rule 13d-5(b)(1) under the Exchange Act).

 

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2.1.16 No
foreign person (as defined in 31 C.F.R. Part 800.224) in which the national or subnational governments of a single foreign state
have a substantial interest (as defined in 31 C.F.R. Part 800.244) will acquire a substantial interest in the Issuer as a result
of the purchase and sale of Shares hereunder such that a declaration to the Committee on Foreign Investment in the United States
would be mandatory under 31 C.F.R. Part 800.401, and no foreign person will have control (as defined in 31 C.F.R. Part 800.208)
over the Issuer from and after the Closing as a result of the purchase and sale of Shares hereunder.

 

2.1.17 On
each date the Purchase Price would be required to be funded to the Issuer pursuant to Section 3.1, Subscriber will have sufficient
immediately available funds to pay the Purchase Price pursuant to Section 3.1.

 

2.1.18 Subscriber
represents that no disqualifying event described in Rule 506(d)(1)(i)-(viii) under the Securities Act (a “Disqualification
Event”) is applicable to Subscriber or any of its Rule 506(d) Related Parties (as defined below), except, if applicable,
for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. Subscriber hereby agrees that it
shall notify the Issuer promptly in writing in the event a Disqualification Event becomes applicable to Subscriber or any of its
Rule 506(d) Related Parties, except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3)
is applicable. For purposes of this Section 2.1.19, “Rule 506(d) Related Party” shall mean a person or entity
that is a beneficial owner of Subscriber’s securities for purposes of Rule 506(d) under the Securities Act.

 

2.1.19 Subscriber
acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person,
firm or corporation (including, without limitation, the Issuer, any of its affiliates or any of its or their respective control
persons, officers, directors, employees, agents or representatives), other than the representations and warranties of the Issuer
expressly set forth in this Subscription Agreement, in making its investment or decision to invest in the Issuer. Subscriber agrees
that neither (i) any other Subscriber pursuant to this Subscription Agreement or any other agreement related to the private placement
of shares of the Issuer’s common stock (including the controlling persons, officers, directors, partners, agents or employees
of any such Subscriber) nor (ii) the Company, its affiliates or any of their or their respective affiliates’ control persons,
officers, directors, partners, agents, employees or representatives, shall be liable to any other Subscriber pursuant to this
Subscription Agreement or any other agreement related to the private placement of shares of the Issuer’s common stock for
any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Shares hereunder.

 

2.2 Issuer’s
Representations, Warranties and Agreements. To induce Subscriber to purchase the Shares, the Issuer hereby represents and
warrants to Subscriber and agrees with Subscriber as follows:

 

2.2.1 The
Issuer has been duly incorporated and is validly existing as a corporation in good standing under the laws of the Delaware General
Corporation Law (“DGCL”), with corporate power and authority to own, lease and operate its properties and conduct
its business as presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement.

 

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2.2.2 The
Shares have been duly authorized and, when issued and delivered to Subscriber against full payment for the Shares in accordance
with the terms of this Subscription Agreement and registered with the Issuer’s transfer agent, the Shares will be validly
issued, fully paid and non-assessable and will not have been issued in violation of or subject to any preemptive or similar rights
created under the Issuer’s amended and restated certificate of incorporation or under the DGCL.

 

2.2.3 This
Subscription Agreement has been duly authorized, executed and delivered by the Issuer and is enforceable against it in accordance
with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization,
moratorium or other laws relating to or affecting the rights of creditors generally and (ii) principles of equity, whether considered
at law or equity.

 

2.2.4 The
execution, delivery and performance of this Subscription Agreement (including compliance by the Issuer with all of the provisions
hereof), issuance and sale of the Shares and the consummation of the certain other transactions contemplated herein will not (i)
conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result
in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Issuer pursuant to
the terms of any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement or instrument to which
the Issuer is a party or by which the Issuer is bound or to which any of the property or assets of the Issuer is subject, which
would reasonably be expected to have a material adverse effect on the business, properties, assets, liabilities, financial condition,
or results of operations of the Issuer and its subsidiaries, taken as a whole (for such purposes, treating the Transaction as
having been consummated), the validity of the Shares or the legal authority or ability of the Issuer to perform in all material
respects its obligations under the Merger Agreement or this Subscription Agreement, subject to the exceptions in clauses (a) through
(h) in the definition of Material Adverse Effect in the Merger Agreement mutatis mutandis (an “Issuer Material
Adverse Effect”), (ii) result in any violation of the provisions of the organizational documents of the Issuer or (iii)
result in any violation of any statute or any judgment, order, rule or regulation of any court or governmental agency or body,
domestic or foreign, having jurisdiction over the Issuer or any of its properties that would reasonably be expected to have an
Issuer Material Adverse Effect.

 

2.2.5 The
authorized capital shares of the Issuer immediately prior to the Closing consists of (i) 50,000,000 shares of common stock, par
value $0.0001 per share, and (ii) 1,000,000 shares of preferred stock, par value $0.0001 per share.

 

2.2.6 Assuming
the accuracy of Subscriber’s representations and warranties set forth in Section 2.1 of this Subscription Agreement,
no registration under the Securities Act is required for the offer and sale of the Shares by the Issuer to Subscriber.

 

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2.2.7 The
Issuer has made available to Subscriber (including via the Commission’s EDGAR system) a true, correct and complete copy
of each form, report, statement, schedule, prospectus, proxy, registration statement and other documents filed by the Issuer with
the Commission prior to the date of this Subscription Agreement (the “SEC Documents”), which SEC Documents,
as of their respective filing dates, complied in all material respects with the requirements of the Exchange Act applicable to
the SEC Documents and the rules and regulations of the Commission promulgated thereunder applicable to the SEC Documents. None
of the SEC Documents filed under the Exchange Act, contained, when filed or, if amended prior to the date of this Subscription
Agreement, as of the date of such amendment with respect to those disclosures that are amended, any untrue statement of a material
fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein, in the light
of the circumstances under which they were made, not misleading; provided that the Issuer makes no such representation or warranty
with respect to the proxy statement/prospectus included in the Registration Statement to be filed in connection with the approval
of the Merger Agreement by the stockholders of the Issuer (the “Proxy Statement/Prospectus”) or any other information
relating to the Company or any of its affiliates included in any SEC Document or filed as an exhibit thereto. The Issuer has timely
filed each report, statement, schedule, prospectus, and registration statement that the Issuer was required to file with the Commission
since its inception and through the date hereof. As of the date hereof, there are no material outstanding or unresolved comments
in comment letters from the Commission staff with respect to any of the SEC Documents.

 

2.2.8 The
Issuer has provided Subscriber an opportunity to ask questions regarding the Issuer and made available to Subscriber all the information
reasonably available to the Issuer that Subscriber has reasonably requested to make an investment decision with respect to the
Shares.

 

2.2.9 Neither
the Issuer, nor any person acting on its behalf has, directly or indirectly, made any offers or sales of any Issuer security or
solicited any offers to buy any security under circumstances that would adversely affect reliance by the Issuer on Section 4(a)(2)
of the Securities Act for the exemption from registration for the transactions contemplated hereby or would require registration
of the issuance of the Shares under the Securities Act.

 

2.2.10
No Disqualification Event is applicable to the Issuer or, to the Issuer’s knowledge, any Issuer Covered Person (as defined
below), except for a Disqualification Event as to which Rule 506(d)(2)(ii)-(iv) or (d)(3) under the Securities Act is applicable.
The Issuer has complied, to the extent applicable, with any disclosure obligations under Rule 506(e) under the Securities Act.
“Issuer Covered Person” means, with respect to the Issuer as an “issuer” for purposes of Rule 506
under the Securities Act, any person listed in the first paragraph of Rule 506(d)(1) under the Securities Act.

 

2.2.11 As
of the date hereof, there are no pending or, to the knowledge of the Issuer, threatened suits, claim, actions or proceedings (collectively,
“Actions”), which, if determined adversely, would, individually or in the aggregate, reasonably be expected
to have an Issuer Material Adverse Effect. As of the date hereof, there is no unsatisfied judgment or any open injunction binding
upon the Issuer which would, individually or in the aggregate, reasonably be expected to have an Issuer Material Adverse Effect.

 

2.2.12 Other
than the Placement Agents, no broker, finder, or other financial consultant has acted on behalf of or at the direction of the
Issuer in connection with this Subscription Agreement or the transactions contemplated hereby in such a way as to create any liability
on Subscriber.

 

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2.2.13 The
Issuer acknowledges and agrees that, notwithstanding anything herein to the contrary, the Shares may be pledged by Subscriber
in connection with a bona fide margin agreement, which shall not be deemed to be a transfer, sale or assignment of the Shares
hereunder, and Subscriber effecting a pledge of Shares shall not be required to provide the Issuer with any notice thereof or
otherwise make any delivery to the Issuer pursuant to this Subscription Agreement. The Issuer hereby agrees to execute and deliver
such documentation as a pledgee of the Shares may reasonably request in connection with a pledge of the Shares to such pledgee
by Subscriber.

 

3. Settlement
Date and Delivery.

 

3.1 Closing.
The closing of the Subscription contemplated hereby (the “Closing”) shall occur on the date of, and immediately
prior to, the consummation of the Transactions. At least five (5) Business Days prior to the anticipated Closing Date, the Issuer
shall deliver written notice to the Subscriber (the “Closing Notice”) specifying (i) the anticipated Closing
Date and (ii) wire instructions for the payment of the Purchase Price. The Subscriber shall deliver to the Issuer, at least two
(2) Business Days prior to the anticipated Closing Date, the Purchase Price for the Shares, by wire transfer of United States
dollars in immediately available funds to the account specified by the Issuer in the Closing Notice, such funds to be held by
the Issuer in escrow until the Closing. At the Closing, upon satisfaction (or, if applicable, waiver) of the conditions set forth
in this Section 3, the Issuer shall deliver to Subscriber the Shares in book entry form, in the name of Subscriber (or
its nominee in accordance with its delivery instructions) or to a custodian designated by Subscriber, as applicable. In the event
the Closing does not occur within three (3) Business Days of the anticipated Closing Date specified in the Closing Notice, the
Issuer shall promptly (but no later than one (1) Business Day thereafter) return the Purchase Price to the Subscriber.

 

3.2 Conditions
to Closing of the Issuer. The Issuer’s obligations to sell and issue the Shares at the Closing are subject to the fulfillment
or (to the extent permitted by applicable law) written waiver, on or prior to the Closing Date, of each of the following conditions:

 

3.2.1 Representations
and Warranties Correct. The representations and warranties made by Subscriber in Section 2.1 hereof shall be true and
correct in all material respects when made (other than representations and warranties that are qualified as to materiality or
Subscriber Material Adverse Effect, which representations and warranties shall be true and correct in all respects) and shall
be true and correct in all material respects on and as of the Closing Date (unless they specifically speak as of another date
in which case they shall be true and correct in all material respects as of such date) (other than representations and warranties
that are qualified as to materiality or Subscriber Material Adverse Effect, which representations and warranties shall be true
and correct in all respects), with the same force and effect as if they had been made on and as of said date, but in each case
without giving effect to consummation of the Transactions.

 

3.2.2 Closing
of the Transactions. The Transactions set forth in the Merger Agreement shall have been or will be consummated substantially
concurrently with the Closing.

 

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3.2.3 Hart-Scott-Rodino
Act. Any applicable waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, shall have
terminated or expired.

 

3.2.4 Legality.
There shall not be in force any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case,
entered by or with any governmental authority, statute, rule or regulation enjoining or prohibiting the consummation of the Subscription.

 

3.3 Conditions
to Closing of Subscriber. Subscriber’s obligation to purchase the Shares at the Closing is subject to the fulfillment
or (to the extent permitted by applicable law) written waiver, on or prior to the Closing Date, of each of the following conditions:

 

3.3.1 Representations
and Warranties Correct. The representations and warranties made by the Issuer in Section 2.2 hereof shall be true and
correct in all material respects when made (other than representations and warranties that are qualified as to materiality or
Issuer Material Adverse Effect, which representations and warranties shall be true and correct in all respects) and shall be true
and correct in all material respects on and as of the Closing Date (unless they specifically speak as of another date in which
case they shall be true and correct in all material respects as of such date) (other than representations and warranties that
are qualified as to materiality or Issuer Material Adverse Effect, which representations and warranties shall be true and correct
in all respects) with the same force and effect as if they had been made on and as of said date, but in each case without giving
effect to consummation of the Transactions; provided that in the event this condition would otherwise fail to be satisfied as
a result of a breach of one or more of the representations and warranties of the Issuer contained in this Subscription Agreement
and the facts underlying such breach would also cause a condition to the Issuer’s obligations under the Merger Agreement
to fail to be satisfied, this condition shall nevertheless be deemed satisfied in the event the Company waives such condition
with respect to such breach under the Merger Agreement.

 

3.3.2 Compliance
with Covenants. The Issuer shall have performed, satisfied and complied in all material respects with the covenants, agreements
and conditions required by this Subscription Agreement to be performed, satisfied or complied with by the Issuer at or prior to
the Closing.

 

3.3.3 Closing
of the Transactions. (a) The Transactions set forth in the Merger Agreement shall have been: (1) consummated; or (2) will
be consummated substantially concurrently with the Closing; and (b) the Merger Agreement shall not have been amended, supplemented
or otherwise modified, or any terms and/or conditions thereto waived, in a manner that is materially adverse to Subscriber, in
each case, without Subscriber’s prior written consent (not to be unreasonably withheld, conditioned or delayed).

 

3.3.4 Legality.
There shall not be in force any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case,
entered by or with any governmental authority, statute, rule or regulation enjoining or prohibiting the consummation of the Subscription.

 

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4. Registration
Statement.

 

4.1  In
connection with the Transactions, the Issuer will file with the Commission the Registration Statement, which will register the
issuance of shares of common stock upon consummation of the Transactions in exchange for all outstanding shares of the Issuer
(including the Shares). In the event that the Registration Statement, at the time it becomes effective, does not include the shares
of common stock to be issued in exchange for the Shares, The Issuer agrees that, within thirty (30) calendar days after the consummation
of the Transactions (the “Filing Date”), The Issuer will file with the Commission (at the Issuer’s sole
cost and expense) a shelf registration statement registering the resale of the Shares and any other shares of common stock held
by the Subscriber or any of its affiliates (the “Registration Statement”), and the Issuer shall use its commercially
reasonable efforts to have the Registration Statement declared effective as soon as practicable after the filing thereof, but
no later than the earlier of (i) the 60th calendar day (or 90th calendar day if the Commission notifies The Issuer that it will
“review” the Registration Statement) following the Closing and (ii) the 10th Business Day after the date the Issuer
is notified (orally or in writing, whichever is earlier) by the Commission that the Registration Statement will not be “reviewed”
or will not be subject to further review (such earlier date, the “Effectiveness Date”); provided, however,
that the Issuer’s obligations to include such Shares in the Registration Statement are contingent upon Subscriber furnishing
in writing to the Issuer such information regarding Subscriber, the securities of the Issuer held by Subscriber and the intended
method of disposition of the Shares as shall be reasonably requested by the Issuer to effect the registration of the Shares, and
Subscriber shall execute such documents in connection with such registration as the Issuer may reasonably request that are customary
of a selling stockholder in similar situations, including providing that the Issuer shall be entitled to postpone and suspend
the effectiveness or use of the Registration Statement as permitted under Section 4.3 hereunder; provided, further, that the Subscriber
and its affiliates will be indemnified by the Issuer for any liability arising from any material misstatements or omissions in
the Registration Statement except to the extent such misstatement or omission arises from the information specifically provided
by Subscriber for inclusion in the Registration Statement. For purposes of clarification, any failure by the Issuer to file the
Registration Statement by the Filing Date or to cause such Registration Statement to be declared effective by the Effectiveness
Date shall not otherwise relieve the Issuer of its obligations to file the Registration Statement or cause the Registration Statement
to be declared effective as set forth above in this Section 4.

 

4.2 In
the case of the registration effected by the Issuer pursuant to this Subscription Agreement, the Issuer shall, upon reasonable
request, inform Subscriber as to the status of such registration. At its expense, the Issuer shall:

 

4.2.1 except
for such times as the Issuer is permitted hereunder to suspend the use of the prospectus forming part of a Registration Statement,
use its reasonable best efforts to keep such registration, and any qualification, exemption or compliance under state securities
laws which the Issuer determines to obtain, continuously effective with respect to Subscriber, and to keep the applicable Registration
Statement or any subsequent shelf registration statement free of any material misstatements or omissions, until the earlier of
the following: (i) Subscriber ceases to hold any Shares, (ii) the date all Shares held by Subscriber may be sold without restriction
under Rule 144, including without limitation, any volume and manner of sale restrictions which may be applicable to affiliates
under Rule 144 and without the requirement for the Issuer to be in compliance with the current public information required under
Rule 144(c)(1) (or Rule 144(i)(2), if applicable), and (iii) two years from the Effectiveness Date of the Registration Statement;

 

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4.2.2 advise
Subscriber within five (5) Business Days:

 

(a) when
a Registration Statement or any post-effective amendment thereto has become effective;

 

(b) of
the issuance by the Commission of any stop order suspending the effectiveness of any Registration Statement or the initiation
of any proceedings for such purpose;

 

(c) of
the receipt by the Issuer of any notification with respect to the suspension of the qualification of the Shares included therein
for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and

 

(d) subject
to the provisions in this Subscription Agreement, of the occurrence of any event that requires the making of any changes in any
Registration Statement or prospectus so that, as of such date, the statements therein are not misleading and do not omit to state
a material fact required to be stated therein or necessary to make the statements therein (in the case of a prospectus, in the
light of the circumstances under which they were made) not misleading.

 

Notwithstanding anything
to the contrary set forth herein, the Issuer shall not, when so advising Subscriber of such events, provide Subscriber with any
material, nonpublic information regarding the Issuer other than to the extent that providing notice to Subscriber of the occurrence
of the events listed in (a) through (d) above constitutes material, nonpublic information regarding the Issuer;

 

4.2.3 use
its commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement
as soon as reasonably practicable;

 

4.2.4 upon
the occurrence of any event contemplated in Section 4.2.2(d), except for such times as the Issuer is permitted hereunder to suspend,
and has suspended, the use of a prospectus forming part of a Registration Statement, the Issuer shall use its commercially reasonable
efforts to as soon as reasonably practicable prepare a post-effective amendment to such Registration Statement or a supplement
to the related prospectus, or file any other required document so that, as thereafter delivered to purchasers of the Shares included
therein, such prospectus will not include any untrue statement of a material fact or omit to state any material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading; and

 

4.2.5 use
its commercially reasonable efforts to cause all Shares to be listed on each securities exchange or market, if any, on which the
common stock is then listed.

 

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4.3 Notwithstanding
anything to the contrary in this Subscription Agreement, the Issuer shall be entitled to delay or postpone the effectiveness of
the Registration Statement, and from time to time to require Subscriber not to sell under the Registration Statement or to suspend
the effectiveness thereof, if the negotiation or consummation of a transaction by the Issuer or its subsidiaries is pending or
an event has occurred, which negotiation, consummation or event the Issuer’s board of directors reasonably believes, upon
the advice of legal counsel (which may be in-house legal counsel), would require additional disclosure by the Issuer in the Registration
Statement of material information that the Issuer has a bona fide business purpose for keeping confidential and the non-disclosure
of which in the Registration Statement would be expected, in the reasonable determination of the Issuer’s board of directors,
upon the advice of legal counsel (which may be in-house legal counsel), to cause the Registration Statement to fail to comply
with applicable disclosure requirements (each such circumstance, a “Suspension Event”); provided, however,
that the Issuer may not delay or suspend the Registration Statement on more than two occasions or for more than forty-five (45)
consecutive calendar days, or more than ninety (90) total calendar days, in each case during any twelve-month period. Upon receipt
of any written notice from the Issuer of the happening of any Suspension Event during the period that the Registration Statement
is effective or if as a result of a Suspension Event the Registration Statement or related prospectus contains any untrue statement
of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made (in the case of the prospectus) not misleading, Subscriber agrees that
(i) it will immediately discontinue offers and sales of the Shares under the Registration Statement (excluding, for the avoidance
of doubt, sales conducted pursuant to Rule 144) until Subscriber receives copies of a supplemental or amended prospectus (which
the Issuer agrees to promptly prepare) that corrects the misstatement(s) or omission(s) referred to above and receives notice
that any post-effective amendment has become effective or unless otherwise notified by the Issuer that it may resume such offers
and sales, and (ii) it will maintain the confidentiality of any information included in such written notice delivered by the Issuer
unless otherwise required by law or subpoena. If so directed by the Issuer, Subscriber will deliver to the Issuer or, in Subscriber’s
sole discretion, destroy, all copies of the prospectus covering the Shares in Subscriber’s possession; provided, however,
that this obligation to deliver or destroy all copies of the prospectus covering the Shares shall not apply (i) to the extent
Subscriber is required to retain a copy of such prospectus (a) in order to comply with applicable legal, regulatory, self-regulatory
or professional requirements or (b) in accordance with a bona fide pre-existing document retention policy or (ii) to copies stored
electronically on archival servers as a result of automatic data back-up. Issuer agrees that any time transfer is permitted pursuant
to Rule 144 and Subscriber is unable to sell under the Registration Statement, Issuer will take commercially reasonable efforts
to remove the restrictive legend from Subscriber’s Shares.

 

4.4 Termination.
This Subscription Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of
the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earlier
to occur of (i) such date and time as the Merger Agreement is validly terminated in accordance with its terms without consummation
of the Merger, (ii) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement,
(iii) if any of the conditions to Closing set forth in this Subscription Agreement are not satisfied or waived by the party entitled
to grant such waiver on or prior to the Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement
are not consummated at the Closing, and (iv) if the Closing shall not have occurred on or before July 27, 2021; provided that
nothing herein will relieve any party from liability for any willful breach hereof prior to the time of termination, and each
party will be entitled to any remedies at law or in equity to recover losses, liabilities or damages arising from such breach.
The Issuer shall promptly notify Subscriber of the termination of the Merger Agreement promptly after the termination of such
agreement.

 

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5. Miscellaneous.

 

5.1 Further
Assurances. At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional
actions as the parties reasonably may deem to be practical and necessary in order to consummate the Subscription as contemplated
by this Subscription Agreement.

 

5.1.1 Subscriber
acknowledges that the Issuer, the Company, the Placement Agents and others will rely on the acknowledgments, understandings, agreements,
representations and warranties made by Subscriber contained in this Subscription Agreement. Prior to the Closing, Subscriber agrees
to promptly notify the Issuer and the Company if any of the acknowledgments, understandings, agreements, representations and warranties
made by Subscriber set forth herein are no longer accurate in all material respects. Subscriber further acknowledges and agrees
that each of the Placement Agents is a third-party beneficiary of the representations and warranties of the Subscriber contained
in this Section 5.1.1 and Section 2.1 of this Subscription Agreement to the extent such representations and warranties
relate to the Placement Agents. Subscriber acknowledges and agrees that none of (i) any other investor pursuant to this Subscription
Agreement or any other subscription agreement related to the private placement of the Shares (including such other investor’s
respective affiliates or any control persons, officers, directors, employees, partners, agents or representatives of any of the
foregoing), (ii) the Placement Agents, their respective affiliates or any control persons, officers, directors, employees, partners,
agents or representatives of any of the foregoing, in each case, absent their own intentional fraud or willful misconduct, (iii)
any other party to the Merger Agreement, or (iv) any affiliates, or any control persons, officers, directors, employees, partners,
agents or representatives of any of the Issuer, the Company or any other party to the Merger Agreement shall be liable to the
Subscriber, or to any other investor, pursuant to this Subscription Agreement or any other subscription agreement related to the
private placement of the Shares, the negotiation hereof or thereof or the subject matter hereof or thereof, or the transactions
contemplated hereby or thereby, for any action heretofore or hereafter taken or omitted to be taken by any of them in connection
with the purchase of the Shares or with respect to any claim (whether in tort, contract or otherwise) for breach of this Subscription
Agreement or in respect of any written or oral representations made or alleged to be made in connection herewith, except as expressly
provided herein, or for any actual or alleged inaccuracies, misstatements or omissions with respect to any information or materials
of any kind furnished by the Issuer, the Company or the Placement Agents concerning the Issuer, the Company, the Placement Agents,
any of their controlled affiliates, this Subscription Agreement or the transactions contemplated hereby. Subscriber consents to
and agrees to waive any claims it or they may have based on any actual or potential conflicts of interest that may arise or result
from Credit Suisse acting as equity capital markets advisor to the Company.

 

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5.1.2 Each
of the Issuer, Subscriber, Placement Agents and the Company is entitled to rely upon this Subscription Agreement and is irrevocably
authorized to produce this Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding
or official inquiry with respect to the matters covered hereby.

 

5.1.3 The
Issuer may request from Subscriber such additional information as the Issuer may deem necessary to evaluate the eligibility of
Subscriber to acquire the Shares, and Subscriber shall promptly provide such information as may be reasonably requested, to the
extent within Subscriber’s possession and control and otherwise readily available to Subscriber and to the extent consistent
with its internal policies and procedures; provided, that, Issuer agrees to keep any such information provided by Subscriber confidential.

 

5.1.4 Each
party shall pay all of its own expenses in connection with this Subscription Agreement and the transactions contemplated herein.

 

5.1.5 Each
of Subscriber and the Issuer shall take, or cause to be taken, all actions and do, or cause to be done, all things necessary,
proper or advisable to consummate the transactions contemplated by this Subscription Agreement on the terms and conditions described
herein no later than immediately prior to the consummation of the Transactions.

 

5.2 Notices.
Any notice or communication required or permitted hereunder shall be in writing and either delivered personally, emailed or sent
by overnight mail via a reputable overnight carrier, or sent by certified or registered mail, postage prepaid, and shall be deemed
to be given and received (i) when so delivered personally, (ii) when sent, with no mail undeliverable or other rejection notice,
if sent by email, or (iii) three (3) Business Days after the date of mailing to the address below or to such other address or
addresses as such person may hereafter designate by notice given hereunder:

 

(i) if
to Subscriber, to such address or addresses set forth on the signature page hereto;

 

(ii) if
to the Issuer, to:

 

Property Solutions Acquisition Corp.

654 Madison Avenue, Suite 1009

New York, New York 10065

Attn: Jordan Vogel; Aaron Feldman

E-mail: jordan@benchmarkrealestate.com;

aaron@benchmarkrealestate.com

with a required copy (which copy shall not constitute notice) to:

 

Latham & Watkins LLP

885 Third Avenue

New York, New York 10022-4834

Attn: David S. Allinson; Ryan J. Maierson 

Email: david.allinson@lw.com; ryan.maierson@lw.com

 

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(iii) if to the
Company, to: 

 

FF Intelligent Mobility Global Holdings Ltd.

18455 S. Figueroa Street

Gardena, California 90248

Attn: Jarret Johnson; Jerry Wang

E-mail:  jarret.johnson@ff.com; jerry.wang@ff.com

 

with a copy to (which will not constitute notice):

Sidley Austin LLP

555 California Street, Suite 2000

San Francisco, California 94104

Attn: Vijay S. Sekhon; Michael P. Heinz

E-mail:  vsekhon@sidley.com; mheinz@sidley.com

 

5.3 Entire
Agreement. This Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements, understandings,
representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof, including
any commitment letter entered into relating to the subject matter hereof.

 

5.4 Modifications
and Amendments. This Subscription Agreement may not be amended, modified, supplemented or waived (i) except by an instrument
in writing, signed by the party against whom enforcement of such amendment, modification, supplement or waiver is sought and (ii)
without the prior written consent of the Issuer and the Company.

 

5.5 Assignment.
Neither this Subscription Agreement nor any rights, interests or obligations that may accrue to the parties hereunder (including
Subscriber’s rights to purchase the Shares) may be transferred or assigned without the prior written consent of each of
the other parties hereto (other than the Shares acquired hereunder, if any, and the Subscriber’s rights under Section 4
hereof, and then only in accordance with this Subscription Agreement). Notwithstanding the foregoing, Subscriber may assign its
rights and obligations under this Subscription Agreement to one or more of its affiliates (including other investment funds or
accounts managed or advised by the investment manager who acts on behalf of the Subscriber).

 

5.6 Benefit.

 

5.6.1 Except
as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of the parties hereto
and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations,
warranties, covenants and acknowledgments contained herein shall be deemed to be made by, and be binding upon, such heirs, executors,
administrators, successors, legal representatives and permitted assigns. This Subscription Agreement shall not confer rights or
remedies upon any person other than the parties hereto and their respective successors and assigns (other than as provided for
in this Section 5.6.1 and Section 5.1.1 of this Subscription Agreement). Notwithstanding the foregoing, the Company
is an express third-party beneficiary of each of the provisions of this Subscription Agreement.

 

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5.6.2 Each
of the Issuer and Subscriber acknowledges and agrees that (a) this Subscription Agreement is being entered into in order to induce
the Company to execute and deliver the Merger Agreement and without the representations, warranties, covenants and agreements
of the Issuer and Subscriber hereunder, the Company would not enter into the Merger Agreement, (b) each representation, warranty,
covenant and agreement of the Issuer and Subscriber hereunder is being made also for the benefit of the Company, and (c) the Company
may seek to directly enforce (including by an action for specific performance, injunctive relief or other equitable relief, including
to cause the Purchase Price to be paid and the Closing to occur) each of the covenants and agreements of each of the Issuer and
Subscriber under this Subscription Agreement.

 

5.7 Governing
Law. This Subscription Agreement, and any claim or cause of action hereunder based upon, arising out of or related to this
Subscription Agreement (whether based on law, in equity, in contract, in tort or any other theory) or the negotiation, execution,
performance or enforcement of this Subscription Agreement, shall be governed by and construed in accordance with the Laws of the
State of Delaware, without giving effect to the principles of conflicts of law thereof.

 

5.8 Consent
to Jurisdiction; Waiver of Jury Trial. Each of the parties irrevocably consents to the exclusive jurisdiction and venue of
the Court of Chancery of the State of Delaware, provided, that if subject matter jurisdiction over the matter that is the subject
of the legal proceeding is vested exclusively in the U.S. federal courts, such legal proceeding shall be heard in the U.S. District
Court for the District of Delaware (together with the Court of Chancery of the State of Delaware “Chosen Courts”),
in connection with any matter based upon or arising out of this Subscription Agreement. Each party hereby waives, and shall not
assert as a defense in any legal dispute, that (i) such person is not personally subject to the jurisdiction of the Chosen Courts
for any reason, (ii) such legal proceeding may not be brought or is not maintainable in the Chosen Courts, (iii) such person’s
property is exempt or immune from execution, (iv) such legal proceeding is brought in an inconvenient forum or (v) the venue of
such legal proceeding is improper. Each party hereby consents to service of process in any such proceeding in any manner permitted
by Delaware law, further consents to service of process by nationally recognized overnight courier service guaranteeing overnight
delivery, or by registered or certified mail, return receipt requested, at its address specified pursuant to Section 5.2
and waives and covenants not to assert or plead any objection which they might otherwise have to such manner of service of process.
Notwithstanding the foregoing in this Section 5.8, a party may commence any action, claim, cause of action or suit in a
court other than the Chosen Courts solely for the purpose of enforcing an order or judgment issued by the Chosen Courts. TO THE
EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH OF THE PARTIES WAIVES ANY RIGHT TO TRIAL BY JURY ON ANY CLAIMS
OR COUNTERCLAIMS ASSERTED IN ANY LEGAL DISPUTE RELATING TO THIS SUBSCRIPTION AGREEMENT WHETHER NOW EXISTING OR HEREAFTER ARISING.
IF THE SUBJECT MATTER OF ANY SUCH LEGAL DISPUTE IS ONE IN WHICH THE WAIVER OF JURY TRIAL IS PROHIBITED, NO PARTY SHALL ASSERT
IN SUCH LEGAL DISPUTE A NONCOMPULSORY COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS SUBSCRIPTION AGREEMENT. FURTHERMORE, NO
PARTY SHALL SEEK TO CONSOLIDATE ANY SUCH LEGAL DISPUTE WITH A SEPARATE ACTION OR OTHER LEGAL PROCEEDING IN WHICH A JURY TRIAL
CANNOT BE WAIVED.

 

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5.9 Severability.
If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality or enforceability
of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue
in full force and effect.

 

5.10 No
Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right, power or remedy under
this Subscription Agreement, and no course of dealing between the parties hereto, shall operate as a waiver of any such right,
power or remedy of such party. No single or partial exercise of any right, power or remedy under this Subscription Agreement by
a party hereto, nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such
party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The election of
any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice
to or demand on a party not expressly required under this Subscription Agreement shall entitle the party receiving such notice
or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the
party giving such notice or demand to any other or further action in any circumstances without such notice or demand.

 

5.11 Remedies.

 

5.11.1 The
parties agree that irreparable damage would occur if this Subscription Agreement was not performed or the Closing is not consummated
in accordance with its specific terms or was otherwise breached and that money damages or other legal remedies would not be an
adequate remedy for any such damage. It is accordingly agreed that the parties hereto shall be entitled to equitable relief, including
in the form of an injunction or injunctions, to prevent breaches or threatened breaches of this Subscription Agreement and to
enforce specifically the terms and provisions of this Subscription Agreement in an appropriate court of competent jurisdiction
as set forth in Section 5.8, this being in addition to any other remedy to which any party is entitled at law or in equity,
including money damages.  The right to specific enforcement shall include the right of the parties hereto to cause Subscriber
and the right of the Company to cause the parties hereto to cause the transactions contemplated hereby to be consummated on the
terms and subject to the conditions and limitations set forth in this Subscription Agreement. The parties hereto further agree
(i) to waive any requirement for the security or posting of any bond in connection with any such equitable remedy, (ii) not to
assert that a remedy of specific enforcement pursuant to this Section 5.11 is unenforceable, invalid, contrary to applicable
law or inequitable for any reason and (iii) to waive any defenses in any action for specific performance, including the defense
that a remedy at law would be adequate.  In connection with any Action for which the Company is being granted an award of
money damages, each of the Issuer and Subscriber agrees that such damages, to the extent payable by such party, shall include,
without limitation, damages related to the consideration that is or was to be paid to the Company or its equityholders under the
Merger Agreement and/or Subscription Agreement and such damages are not limited to an award of out-of-pocket fees and expenses
related to the Merger Agreement and Subscription Agreement.

 

5.11.2 The
parties acknowledge and agree that this Section 5.11 is an integral part of the transactions contemplated hereby and without
that right, the parties hereto would not have entered into this Subscription Agreement.

 

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5.11.3 In
any dispute arising out of or related to this Subscription Agreement, or any other agreement, document, instrument or certificate
contemplated hereby, or any transactions contemplated hereby or thereby, the applicable adjudicating body shall award to the prevailing
party, if any, the reasonable and documented out-of-pocket costs and external attorneys’ fees reasonably incurred by the
prevailing party in connection with the dispute and the enforcement of its rights under this Subscription Agreement or any other
agreement, document, instrument or certificate contemplated hereby and, if the adjudicating body determines a party to be the
prevailing party under circumstances where the prevailing party won on some but not all of the claims and counterclaims, the adjudicating
body may award the prevailing party an appropriate percentage of the costs and external attorneys’ fees reasonably incurred
by the prevailing party in connection with the adjudication and the enforcement of its rights under this Subscription Agreement
or any other agreement, document, instrument or certificate contemplated hereby or thereby.

 

5.12 Survival
of Representations and Warranties. All representations and warranties made by the parties hereto in this Subscription Agreement
shall survive the Closing. For the avoidance of doubt, if for any reason the Closing does not occur prior to the consummation
of the Transactions, all representations, warranties, covenants and agreements of the parties hereunder shall survive the consummation
of the Transactions and remain in full force and effect.

 

5.13 No
Broker or Finder. Other than the Placement Agents (which have been engaged by the Issuer in connection with this Subscription)
or as disclosed on Schedule 5.13 hereto, each of the Issuer and Subscriber each represents and warrants to the other parties
hereto that no broker, finder or other financial consultant has acted on its behalf in connection with this Subscription Agreement
or the transactions contemplated hereby in such a way as to create any liability on any other party hereto. Each of the Issuer
and Subscriber agrees to indemnify and save the other parties hereto harmless from any claim or demand for commission or other
compensation by any broker, finder, financial consultant or similar agent claiming to have been employed by or on behalf of such
party and to bear the cost of legal expenses incurred in defending against any such claim.

 

5.14 Headings
and Captions. The headings and captions of the various subdivisions of this Subscription Agreement are for convenience of
reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof.

 

5.15 Counterparts.
This Subscription Agreement may be executed in one or more counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
parties, it being understood that the parties need not sign the same counterpart. In the event that any signature is delivered
by facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature page
were an original thereof.

 

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5.16 Construction.
The words “include,” “includes,” and “including” will be deemed to be
followed by “without limitation.” Pronouns in masculine, feminine, and neuter genders will be construed to
include any other gender, and words in the singular form will be construed to include the plural and vice versa, unless the context
otherwise requires. The words “this Subscription Agreement,” “herein,” “hereof,”
“hereby,” “hereunder,” and words of similar import refer to this Subscription Agreement
as a whole and not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation,
warranty, and covenant contained herein will have independent significance. If any party hereto has breached any representation,
warranty, or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant
relating to the same subject matter (regardless of the relative levels of specificity) which such party hereto has not breached
will not detract from or mitigate the fact that such party hereto is in breach of the first representation, warranty, or covenant.
All references in this Subscription Agreement to numbers of shares, per share amounts and purchase prices shall be appropriately
adjusted to reflect any stock split, stock dividend, stock combination, recapitalization or the like occurring after the date
hereof.

 

5.17 Mutual
Drafting. This Subscription Agreement is the joint product of the parties hereto and each provision hereof has been subject
to the mutual consultation, negotiation and agreement of the parties and shall not be construed for or against any party hereto.

 

6. Cleansing
Statement; Consent to Disclosure.

 

6.1 The
Issuer shall, by 11:00 a.m., New York City time, on the first (1st) Business Day immediately following the date of this Subscription
Agreement, issue one (1) or more press releases or file with the Commission a Current Report on Form 8-K (collectively, the “Disclosure
Document”) disclosing all material terms of the transactions contemplated hereby and by the Other Subscription Agreements,
and the Transactions. From and after the publication of the Disclosure Document, the Issuer represents to the Subscriber that
it shall have publicly disclosed all material, non-public information delivered to the Subscriber by the Issuer or any of their
officers, directors, employees or agents in connection with the transactions contemplated by the Subscription Agreement and the
Merger Agreement, and Subscriber shall no longer be subject to any confidentiality or similar obligations under any current agreement,
whether written or oral, with the Issuer, the Placement Agents, or any of their affiliates.

 

6.2 Subscriber
hereby consents to the publication and disclosure in any press release issued by the Issuer or the Company or Form 8-K filed by
the Issuer with the Commission in connection with the execution and delivery of the Merger Agreement and the Proxy Statement/Prospectus
(and, as and to the extent otherwise required by the federal securities laws or the Commission or any other securities authorities,
any other documents or communications provided by the Issuer or the Company to any Governmental Authority or to securityholders
of the Issuer) in each case, as and to the extent required by applicable law or the Commission or any other governmental authority,
of Subscriber’s identity and beneficial ownership of the Shares and the nature of Subscriber’s commitments, arrangements
and understandings under and relating to this Subscription Agreement and, if deemed appropriate by the Issuer or the Company,
a copy of this Subscription Agreement. Other than as set forth in the immediately preceding sentence, without Subscriber’s
prior written consent, the Issuer will not publicly disclose the name of Subscriber, other than to the Issuer’s lawyers,
independent accountants and to other advisors and service providers who reasonably require such information in connection with
the provision of services to such person, are advised of the confidential nature of such information and are obligated to keep
such information confidential. Subscriber will promptly provide any information reasonably requested by the Issuer or the Company
for any regulatory application or filing made or approval sought in connection with the Transactions (including filings with the
Commission).

 

    - 20 -

     

    

  

6.3 Trust
Account Waiver. Notwithstanding anything to the contrary set forth herein, Subscriber acknowledges that it has read the Investment
Management Trust Agreement, dated as of July 21, 2020, by and between the Issuer and Continental Stock Transfer & Trust Company,
a New York corporation, and understands that the Issuer has established the trust account described therein (the “Trust
Account”) for the benefit of the Issuer’s public stockholders and that disbursements from the Trust Account are
available only in the limited circumstances set forth therein. Subscriber further acknowledges and agrees that the Issuer’s
sole assets consist of the cash proceeds of the Issuer’s initial public offering and private placements of its securities,
and that substantially all of these proceeds have been deposited in the Trust Account for the benefit of its public stockholders.
Accordingly, Subscriber (on behalf of itself and its affiliates) hereby waives any past, present or future claim of any kind arising
out of this Subscription Agreement against, and any right to access, the Trust Account, any trustee of the Trust Account and the
Issuer to collect from the Trust Account any monies that may be owed to them by the Issuer or any of its affiliates for any reason
whatsoever, and will not seek recourse against the Trust Account at any time for any reason whatsoever arising out of this Subscription
Agreement, including, without limitation, for any knowing and intentional material breach by any of the parties to this Subscription
Agreement of any of its representations or warranties as set forth in this Subscription Agreement, or such party’s material
breach of any of its covenants or other agreements set forth in this Subscription Agreement, which material breach constitutes,
or is a consequence of, a purposeful act or failure to act by such party with the knowledge that the taking of such act or failure
to take such act would cause a material breach of this Subscription Agreement; provided, however, that nothing in this Section
7 (x) shall serve to limit or prohibit the Subscriber’s right to pursue a claim against Issuer for legal relief against
assets held outside the Trust Account, for specific performance or other equitable relief, (y) shall serve to limit or prohibit
any claims that the Subscriber may have in the future against Subscribers’ assets or funds that are not held in the Trust
Account (including any funds that have been released from the Trust Account and any assets that have been purchased or acquired
with any such funds) or (z) shall be deemed to limit Subscriber’s right, title, interest, or claim to the Trust Account
by virtue of such Subscriber’s record or beneficial ownership of securities of the Issuer acquired by any means other than
pursuant to this Subscription Agreement, including any redemption right with respect to any such securities of the Issuer. This
Section 7 shall survive the termination of this Subscription Agreement for any reason.

 

[Signature Page Follows]

 

    - 21 -

     

    

  

IN WITNESS WHEREOF,
each of the Issuer and Subscriber has executed or caused this Subscription Agreement to be executed by its duly authorized representative
as of the date first set forth above.

 

	 	ISSUER:
	 	 
	 	PROPERTY SOLUTIONS ACQUISITION CORP. 
	 	 	 
	 	By:	/s/ Jordan Vogel
	 	 	Name:  	Jordan Vogel
	 	 	Title:	Co-Chief Executive Officer & Secretary

 

    - 22 -

     

    

 

	Accepted and agreed this ______ day of _____________,
    2021.	 	 
	 	 	 
	SUBSCRIBER:
	 	 
	 	 	 
	Signature of Subscriber:	 	Signature of Joint Subscriber, if applicable:
	 	 	 
	By:	                                           	 	By:	                                           
	Name:	                   	 	Name:	                   
	Title:	                   	 	Title:	                   
	 	 	 
	Date:  ____________, 2021	 	 
	Name of Subscriber:	 	Name of Joint Subscriber, if applicable:
	 	 	 
	 	 	 
	(Please print.  Please indicate name and	 	(Please Print.  Please indicate name and
	capacity of person signing above)	 	capacity of person signing above)
	 	 	 
	 	 	 
	Name in which securities are to be registered

    (if different from the name of Subscriber listed directly above): ___________________	 	 
	Email Address: ___________________	 	 
	If there are joint investors, please check one:	 	 
	☐  Joint Tenants with Rights of Survivorship	 	 
	☐  Tenants-in-Common	 	 
	☐  Community Property	 	 
	Subscriber’s EIN: __________________	 	Joint Subscriber’s EIN: __________________
	Business Address-Street:	 	Mailing Address-Street (if different):
	 	 	 
	                    	 	                    
	 	 	 
	                    	 	                    
	 	 	 
	City, State, Zip: ___________________	 	City, State, Zip: _____________________
	Attn: ___________________________	 	Attn:
	Telephone No.: ___________________	 	Telephone No.: _____________________
	Facsimile No.: ____________________	 	Facsimile No.: ______________________
	Aggregate Number of Shares subscribed for:	 	 
	 	 	 
	 	 	 

 

Aggregate Purchase Price: $______________

 

You must pay the Purchase Price by wire
transfer of U.S. dollars in immediately available funds, to be held in escrow until the Closing, to the account specified by the
Issuer in the Closing Notice.

 

     

     

    

  

SCHEDULE I

ELIGIBILITY REPRESENTATIONS OF SUBSCRIBER

 

		A.	QUALIFIED INSTITUTIONAL BUYER STATUS

(Please check the applicable subparagraphs):

 

	 	1.	☐	We are a “qualified institutional
                                         buyer” (as defined in Rule 144A under the Securities Act of 1933, as amended (the
                                         “Securities Act”)) (a “QIB”) and have marked
                                         and initialed the appropriate box on the following pages indicating the provision under
                                         which we qualify as a QIB.

 

	 	2.	☐	We are subscribing for the
                                         Shares as a fiduciary or agent for one or more investor accounts, and each owner of such
                                         account is a QIB.

 

*** OR ***

 

		B.	ACCREDITED INVESTOR STATUS (Please check the applicable subparagraphs):

 

	 	1.	☐	We are an “accredited
                                         investor” (within the meaning of Rule 501(a) under the Securities Act) and have
                                         marked and initialed the appropriate box on the following pages indicating the provision
                                         under which we qualify as an “accredited investor.”

 

	 	2.	☐	We are not a natural person.

 

*** AND ***

 

		C.	AFFILIATE STATUS (Please check the applicable box)

                                         

                                         SUBSCRIBER:

 

		☐	is:

 

		☐	is not:

 

an “affiliate” (as
defined in Rule 144 under the Securities Act) of the Issuer or acting on behalf of an affiliate of the Issuer.

 

This Schedule I should be completed
by Subscriber

and constitutes a part of the Subscription Agreement.

 

     

     

    

 

QUALIFIED INSTITUTIONAL BUYER: The Subscriber
is a “qualified institutional buyer” (within the meaning of Rule 144A under the Securities Act) if it is an entity
that meets any one of the following categories at the time of the sale of securities to the Subscriber (Please check the applicable
subparagraphs):

 

		☐	The Subscriber is an entity that, acting for its own account
or the accounts of other qualified institutional buyers, in the aggregate owns and invests on a discretionary basis at least $100
million in securities of issuers that are not affiliated with the Subscriber and:

 

		☐	is an insurance company as defined in section 2(a)(13)
of the Securities Act;

 

		☐	is an investment company registered under the Investment
Company Act of 1940, as amended (the “Investment Company Act”), or any business development company as defined
in section 2(a)(48) of the Investment Company Act;

 

		☐	is a Small Business Investment Company licensed by
the US Small Business Administration under section 301(c) or (d) of the Small Business Investment Act of 1958, as amended (“Small
Business Investment Act”);

 

		☐	is a plan established and maintained by a state, its
political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees;

 

		☐	is an employee benefit plan within the meaning of
Title I of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”);

 

		☐	is a trust fund whose trustee is a bank or trust company
and whose participants are exclusively (a) plans established and maintained by a state, its political subdivisions, or any agency
or instrumentality of a state or its political subdivisions, for the benefit of its employees, of (b) employee benefit plan within
the meaning of Title I of the ERISA, except, in each case, trust funds that include as participants individual retirement accounts
or H.R. 10 plans;

 

		☐	is a business development company as defined in section
202(a)(22) of the Investment Advisers Act of 1940, as amended (the “Investment Advisers Act”);

 

		☐	is an organization described in section 501(c)(3)
of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”), corporation (other than a bank
as defined in section 3(a)(2) of the Act, a savings and loan association or other institution referenced in section 3(a)(5)(A)
of the Act, or a foreign bank or savings and loan association or equivalent institution), partnership, or Massachusetts or similar
business trust; or

 

		☐	is an investment adviser registered under the Investment
Advisers Act;

 

     

     

    

 

		☐	The Subscriber is a dealer registered pursuant to Section
15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), acting for its own account or the
accounts of other qualified institutional buyers, that in the aggregate owns and invests on a discretionary basis at least $10
million of securities of issuers that are not affiliated with the Subscriber;

 

		☐	The Subscriber is a dealer registered pursuant to Section
15 of the Exchange Act acting in a riskless principal transaction on behalf of a qualified institutional buyer;

 

		☐	The Subscriber is an investment company registered under
the Investment Company Act, acting for its own account or for the accounts of other qualified institutional buyers, that is part
of a family of investment companies1 which
own in the aggregate at least $100 million in securities of issuers, other than issuers that are affiliated with Subscriber or
are part of such family of investment companies;

 

		☐	The Subscriber is an entity, all of the equity owners of
which are qualified institutional buyers, acting for its own account or the accounts of other qualified institutional buyers;
or

 

		☐	The Subscriber is a bank as defined in section 3(a)(2)
of the Securities Act, or any savings and loan association or other institution as defined in section 3(a)(5)(A) of the Securities
Act, or any foreign bank or savings and loan association or equivalent institution, acting for its own account or the accounts
of other qualified institutional buyers, that in the aggregate owns and invests on a discretionary basis at least $100 million
in securities of issuers that are not affiliated with the Subscriber and that has an audited net worth of at least $25 million
as demonstrated in its latest annual financial statements, as of a date not more than 16 months preceding the date of sale of
securities in the case of a US bank or savings and loan association, and not more than 18 months preceding the date of sale of
securities for a foreign bank or savings and loan association or equivalent institution.

 

 

		1	“Family of investment companies” means
any two or more investment companies registered under the Investment Company Act, except for a unit investment trust whose assets
consist solely of shares of one or more registered investment companies, that have the same investment adviser (or, in the case
of unit investment trusts, the same depositor); provided that, (a) each series of a series company (as defined in Rule 18f-2 under
the Investment Company Act) shall be deemed to be a separate investment company and (b) investment companies shall be deemed to
have the same adviser (or depositor) if their advisers (or depositors) are majority-owned subsidiaries of the same parent, or
if one investment company’s adviser (or depositor) is a majority-owned subsidiary of the other investment company’s
adviser (or depositor)

  

     

     

    

  

ACCREDITED INVESTOR: Rule 501(a) under
the Securities Act, in relevant part, states that an “accredited investor” shall mean any person who comes within
any of the below listed categories, or who the issuer reasonably believes comes within any of the below listed categories, at
the time of the sale of the securities to that person. Subscriber has indicated, by marking and initialing the appropriate box(es)
below, the provision(s) below which apply to Subscriber and under which Subscriber accordingly qualifies as an “accredited
investor.”

 

		☐	Any bank as defined in section 3(a)(2) of the Securities
Act, or any savings and loan association or other institution as defined in section 3(a)(5)(A) of the Securities Act whether acting
in its individual or fiduciary capacity;

 

		☐	Any broker or dealer registered pursuant to section 15
of the Exchange Act;

 

		☐	Any insurance company as defined in section 2(a)(13) of
the Securities Act;

 

		☐	Any investment company registered under the Investment
Company Act or a business development company as defined in section 2(a)(48) of the Investment Company Act;

 

		☐	Any Small Business Investment Company licensed by the U.S.
Small Business Administration under section 301(c) or (d) of the Small Business Investment Act;

 

		☐	Any plan established and maintained by a state, its political
subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if
such plan has total assets in excess of $5,000,000;

 

		☐	Any employee benefit plan within the meaning of Title I
of the ERISA, if (i) the investment decision is made by a plan fiduciary, as defined in section 3(21) of ERISA, which is either
a bank, a savings and loan association, an insurance company, or a registered investment adviser, (ii) the employee benefit plan
has total assets in excess of $5,000,000 or, (iii) such plan is a self-directed plan, with investment decisions made solely by
persons that are “accredited investors”;

 

		☐	Any private business development company as defined in
section 202(a)(22) of the Investment Advisers Act;

 

     

     

    

 

		☐	Any (i) corporation, limited liability company or partnership,
(ii) Massachusetts or similar business trust, or (iii) organization described in section 501(c)(3) of the Internal Revenue Code,
in each case that was not formed for the specific purpose of acquiring the securities offered and that has total assets in excess
of $5,000,000;

 

		☐	Any director, executive officer, or general partner of
the issuer of the securities being offered or sold, or any director, executive officer, or general partner of a general partner
of that issuer;

  

		☐	Any natural person whose individual net worth, or joint
net worth with that person’s spouse, exceeds $1,000,000. For purposes of calculating a natural person’s net worth:
(a) the person’s primary residence shall not be included as an asset; (b) indebtedness that is secured by the person’s
primary residence, up to the estimated fair market value of the primary residence at the time of the sale of securities, shall
not be included as a liability (except that if the amount of such indebtedness outstanding at the time of sale of securities exceeds
the amount outstanding 60 days before such time, other than as a result of the acquisition of the primary residence, the amount
of such excess shall be included as a liability); and (c) indebtedness that is secured by the person’s primary residence
in excess of the estimated fair market value of the primary residence at the time of the sale of securities shall be included
as a liability;

 

		☐	Any natural person who had an individual income in excess
of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each
of those years and has a reasonable expectation of reaching the same income level in the current year;

 

		☐	Any trust, with total assets in excess of $5,000,000, not
formed for the specific purpose of acquiring the securities offered, whose purchase is directed by a sophisticated person as described
in Section 230.506(b)(2)(ii) of Regulation D under the Securities Act; or

 

		☐	Any entity in which all of the equity owners are “accredited
investors.”

 

     

     

    

 

SCHEDULE 5.13

 

		1.	Deutsche Bank

 

		2.	Stifel

 

		3.	Credit Suisse

 

		4.	EarlyBird

 

		5.	Kyong Tek (goes by initials “KT”) Seong is an
                                         individual residing in South Korea. He is an industry contact of one of FF employees.
                                         Upon our request in 2019, KT scouted potential investors & business partners in South
                                         Korea under a Finders Agreement signed with FF. He introduced the Myoung Shin Group (“MS”)
                                         to FF under this agreement. The agreement specifies that KT is entitled to receive 1%
                                         of the gross proceeds from any equity, debt, or business transaction from the companies
                                         he introduces.

 

		6.	Nourhan Beyrouti is a corporate strategist specializing in
                                         the Middle East & North Africa. He is internationally experienced with over 18 years
                                         living abroad working for multinational conglomerates such as SABIC, Qatar Telecom, Dubai
                                         Government, Saudi Government and Majid Al Futtaim Holding. He holds an MBA and BA in
                                         management strategy from the University of the State of New York.

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