Document:

EX-10.2

 Exhibit 10.2 

STOCKHOLDERS AGREEMENT 

DATED AS OF APRIL 1, 2021 

AMONG 
 FINANCE OF
AMERICA COMPANIES INC. 
 AND 

THE OTHER PARTIES HERETO 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 ARTICLE I. INTRODUCTORY MATTERS
	  	 	1	 
			
	 1.1
	 	Defined Terms	  	 	1	 
			
	 1.2
	 	Construction	  	 	5	 
		
	 ARTICLE II. CORPORATE GOVERNANCE MATTERS
	  	 	6	 
			
	 2.1
	 	Election of Directors	  	 	6	 
			
	 2.2
	 	Compensation	  	 	8	 
			
	 2.3
	 	Other Rights of Stockholder Designees	  	 	8	 
			
	 2.4
	 	Director Independence	  	 	8	 
		
	 ARTICLE III. INFORMATION; VCOC
	  	 	8	 
			
	 3.1
	 	Books and Records; Access	  	 	8	 
			
	 3.2
	 	Certain Reports	  	 	9	 
			
	 3.3
	 	VCOC	  	 	9	 
			
	 3.4
	 	Confidentiality	  	 	11	 
			
	 3.5
	 	Information Sharing	  	 	12	 
		
	 ARTICLE IV. ADDITIONAL COVENANTS
	  	 	12	 
			
	 4.1
	 	Pledges or Transfers	  	 	12	 
			
	 4.2
	 	Spin-Offs or Split-Offs	  	 	12	 
			
	 4.3
	 	Principal Stockholder Lock-Up	  	 	13	 
		
	 ARTICLE V. GENERAL PROVISIONS
	  	 	13	 
			
	 5.1
	 	Termination	  	 	13	 
			
	 5.2
	 	Notices	  	 	13	 
			
	 5.3
	 	Amendment; Waiver	  	 	14	 
			
	 5.4
	 	Further Assurances	  	 	15	 
			
	 5.5
	 	Assignment	  	 	15	 
			
	 5.6
	 	Third Parties	  	 	15	 
			
	 5.7
	 	Governing Law	  	 	15	 
			
	 5.8
	 	Jurisdiction; Waiver of Jury Trial	  	 	15	 
			
	 5.9
	 	Specific Performance	  	 	16	 
			
	 5.10
	 	Entire Agreement	  	 	16	 
			
	 5.11
	 	Severability	  	 	16	 

  
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	 5.12
	 	Table of Contents, Headings and Captions	  	 	16	 
			
	 5.13
	 	Grant of Consent	  	 	16	 
			
	 5.14
	 	Counterparts	  	 	17	 
			
	 5.15
	 	Effectiveness	  	 	17	 
			
	 5.16
	 	No Recourse	  	 	17	 

  
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 STOCKHOLDERS AGREEMENT 

This Stockholders Agreement is entered into as of April 1, 2021 by and among Finance of America Companies Inc., a Delaware corporation
(the “Company”) and each of the Principal Stockholders (as defined below) from time to time party hereto. 
 RECITALS: 

WHEREAS, in connection with the Equity Transactions (as defined below) and effective upon the consummation thereof, the parties hereto wish to
set forth certain understandings between such parties, including with respect to certain governance and other matters. 
 NOW, THEREFORE,
the parties agree as follows: 
 ARTICLE I. 

INTRODUCTORY MATTERS 

1.1 Defined Terms. In addition to the terms defined elsewhere herein, the following terms have the following meanings when used
herein with initial capital letters: 
 “Affiliate” has the meaning set forth in Rule
12b-2 promulgated under the Exchange Act, as in effect on the date hereof. 

“Agreement” means this Stockholders Agreement, as the same may be amended, supplemented, restated or otherwise modified from
time to time in accordance with the terms hereof. 
 “Beneficially Own” has the meaning set forth in Rule 13d-3 promulgated under the Exchange Act. 
 “BL Investors Designee” has the meaning
assigned to such term in Section 2.1(b). 
 “BL Investors Designator” means the BL Investors, or
any group of BL Investors collectively, then holding a majority of the Class A Common Stock on a Fully Exchanged Basis held all BL Investors. 

“BL Investors” means the entities listed on the signature pages hereto under the heading “BL Investors,” any
Transferee that becomes party to this Agreement as a “BL Investor” in accordance with Section 5.5 hereof, and their respective Affiliates. 

“Blackstone Investors Designee” has the meaning assigned to such term in Section 2.1(a). 

“Blackstone Investors Designator” means the Blackstone Investors, or any group of Blackstone Investors collectively, then
holding a majority of the Class A Common Stock on a Fully Exchanged Basis held all Blackstone Investors. 

 “Blackstone Investors” means the entities listed on the signature pages
hereto under the heading “Blackstone Investors,” any Transferee that becomes party to this Agreement as a “Blackstone Investor” in accordance with Section 5.5 hereof, and their respective Affiliates.

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

“Business Day” means a day other than a Saturday, Sunday, federal or New York State holiday or other day on which commercial
banks in New York City are authorized or required by law to close. 
 “Class A Common Stock” means
shares of class A common stock, par value $0.0001 per share, of the Company, and any securities issued in respect thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any reclassification,
recapitalization, merger, consolidation or similar transaction. 
 “Class B Common Stock” means shares
of class B common stock, par value $0.0001 per share, of the Company, and any securities issued in respect thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any reclassification, recapitalization,
merger, consolidation or similar transaction. 
 “Closing Date” means the date of the closing of the Equity Transactions.

 “Common Stock” means collectively, the shares of Class A Common Stock and Class B Common Stock. 

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

“Confidential Information” means any information concerning the Company or its Subsidiaries that is furnished after the date
of this Agreement by or on behalf of the Company or its designated representatives to a Principal Stockholder or its designated representatives, together with any notes, analyses, reports, models, compilations, studies, documents, records or
extracts thereof containing, based upon or derived from such information, in whole or in part; provided, however, that Confidential Information does not include information: 

(i) that is or has become publicly available other than as a result of a disclosure by a Principal Stockholder or its designated
representatives in violation of this Agreement; 
 (ii) that was already known to a Principal Stockholder or its designated representatives
or was in the possession of a Principal Stockholder or its designated representatives prior to its being furnished by or on behalf of the Company or its designated representatives; 

(iii) that is received by a Principal Stockholder or its designated representatives from a source other than the Company or its designated
representatives, provided, that the source of such information was not actually known by such Principal Stockholder or designated representative to be bound by a confidentiality agreement with, or other contractual obligation of confidentiality to,
the Company; 

  
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 (iv) that was independently developed or acquired by a Principal Stockholder or its
designated representatives or on its or their behalf without the violation of the terms of this Agreement; or 
 (v) that a Principal
Stockholder or its designated representatives is required, in the good faith determination of such Principal Stockholder or designated representative, to disclose by applicable law, regulation or legal process, provided, that such Principal
Stockholder or designated representative takes reasonable steps to minimize the extent of any such required disclosure, provided, further, that no such steps to minimize disclosure shall be required where disclosure is made (i) in response to a
request by a regulatory or self-regulatory authority or (ii) in connection with an audit or examination by a bank examiner or auditor and such audit or examination does not specifically reference the Company or this Agreement. 

“Control” (including its correlative meanings, “Controlled by” and “under common Control
with”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise) of a
Person. 
 “Covered Shares” means with respect to any Principal Stockholder, all Equity Securities of which such Principal
Stockholder acquires record or beneficial ownership, including by purchase, as a result of a stock dividend, stock split, recapitalization, combination, reclassification, exchange or change of such shares, or upon exercise or conversion of any
securities. 
 “Director” means any director of the Company from time to time. 

“Equity Securities” means any and all shares of Common Stock of the Company, and any and all securities of the Company or FOA
OpCo convertible into, or exchangeable or exercisable for (whether or not subject to contingencies or the passage of time, or both), such shares, and options, warrants or other rights to acquire shares of Common Stock of the Company, including
without limitation any and all LLC Units. 
 “Equity Transactions” means the transactions contemplated by the Transaction
Agreement, dated October 12, 2020, among Replay Acquisition Corp., Finance of America Companies Inc., Finance of America Equity Capital LLC and the other parties thereto. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder,
as the same may be amended from time to time. 
 “Excluded Shares” means any Equity Securities of which any Principal
Stockholder acquires record or beneficial ownership through a purchase on the open market or pursuant to a PIPE Agreement and including any additional shares acquired in respect of such shares whether as a result of a stock dividend, stock split,
recapitalization, combination, reclassification, exchange or change of such shares, or upon exercise or conversion of such shares. 

“FOA OpCo” means Finance of America Equity Capital LLC, a Delaware limited liability company. 

  
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 “Fully Exchanged Basis” means on a basis that assumes all outstanding LLC
Units other than those held by the Company or its wholly owned subsidiaries were exchanged for newly issued shares of Class A Common Stock. 

“Governmental Authority” means any nation or government, any state or other political subdivision thereof, and any entity
exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

“Information” has the meaning set forth in Section 3.1 hereof. 

“Law” means any statute, law, regulation, ordinance, rule, injunction, order, decree, governmental approval, directive,
requirement, or other governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration of any of the foregoing by, any Governmental Authority. 

“LLC Units” means the units of limited liability company interest in FOA OpCo. 

“Lock-Up Period” has the meaning set forth in Section 4.3
hereof. 
 “NewCo” has the meaning set forth in Section 4.2 hereof. 

“Non-Recourse Party” has the meaning set forth in
Section 5.16 hereof. 
 “Permitted Transferee” has the meaning set forth in
Section 4.3 hereof. 
 “Person” means an individual, a partnership, a corporation, a limited
liability company, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity under applicable Law, or any Governmental Authority
or any department, agency or political subdivision thereof. 
 “PIPE Agreement” means respect to each Principal
Stockholder, that subscription agreement dated on or about October 12, 2020 among such Principal Stockholder, as Subscriber, the Company and the other parties thereto. 

“Plan Asset Regulation” has the meaning set forth in Section 3.3(a) hereof. 

“Principal Stockholders” means (i) the Blackstone Investors and (ii) the BL Investors. 

“Registration Rights Agreement” means that certain Registration Rights Agreement, dated April 1, 2021, among the Company
and the other parties thereto. 
 “Stockholder Designator” has the meaning assigned to such term in
Section 2.1(c). 
 “Stockholder Designee” means any Blackstone Investors Designee or BL Investors
Designee. 

  
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 “Subsidiary” means, with respect to any Person, any corporation, limited
liability company, partnership, association or other business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election
of directors, representatives or trustees thereof is at the time owned or Controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or any combination thereof; or (ii) if a limited liability
company, partnership, association or other business entity, a majority of the total voting power of stock (or equivalent ownership interest) of the limited liability company, partnership, association or other business entity is at the time owned or
Controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or any combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company,
partnership, association or other business entity if such Person or Persons shall (a) be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or (b) Control the
managing member, managing director or other governing body or general partner of such limited liability company, partnership, association or other business entity. 

“Total Number of Directors” means the total number of directors comprising the Board from time to time. 

“Transfer” (including its correlative meanings, “Transferor,” “Transferee” and
“Transferred”) shall mean, with respect to any security, directly or indirectly, to sell, contract to sell, give, assign, hypothecate, pledge, encumber, grant a security interest in, offer, sell any option or contract to purchase,
purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of any economic, voting or other rights in or to such security. When used as a noun, “Transfer” shall
have such correlative meaning as the context may require. 
 “VCOC Investor” has the meaning set forth in
Section 3.3(a) hereof. 
 “Voting Power” means, at any time, the voting power of all shares of
outstanding capital stock entitled to vote generally in the election of directors of the Company as of the record date for such meeting. 

1.2 Construction. The language used in this Agreement will be deemed to be the language chosen by the parties to express their
mutual intent, and no rule of strict construction will be applied against any party. Unless the context otherwise requires: (a) “or” is disjunctive but not exclusive, (b) words in the singular include the plural, and in the plural
include the singular, and (c) the words “hereof,” “herein,” and “hereunder” and words of similar import when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this
Agreement, and Section references are to sections of this Agreement unless otherwise specified. 

  
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 ARTICLE II. 

CORPORATE GOVERNANCE MATTERS 

2.1 Election of Directors. 

(a) Following the Closing Date, the Blackstone Designator shall have the right, but not the obligation, to designate, and the individuals
nominated for election as Directors by or at the direction of the Board or a duly-authorized committee thereof shall include, a number of individuals such that, upon the election of each such individual, and each other individual nominated by or at
the direction of the Board or a duly authorized committee of the Board, as a Director and taking into account any Director continuing to serve without the need for re-election, the number of Blackstone
Designees (as defined below) serving as Directors of the Company will be equal to: (i) if the Blackstone Investors collectively hold at least 40% of the aggregate outstanding Class A Common Stock on a Fully Exchanged Basis, the lowest
whole number that is greater than 40% of the Total Number of Directors; (ii) if the Blackstone Investors collectively hold at least 30% (but less than 40%) of the aggregate outstanding Class A Common Stock on a Fully Exchanged Basis, the
lowest whole number that is greater than 30% of the Total Number of Directors; (iii) if the Blackstone Investors collectively hold at least 20% (but less than 30%) of the aggregate outstanding Class A Common Stock on a Fully Exchanged
Basis, the lowest whole number that is greater than 20% of the Total Number of Directors; and (iv) if the Blackstone Investors collectively hold at least 5% (but less than 20%) of the aggregate outstanding Class A Common Stock on a Fully
Exchanged Basis, the lowest whole number (such number always being equal to or greater than one) that is greater than 10% of the Total Number of Directors (in each case, each such person a “Blackstone Designee”). 

(b) Following the Closing Date, the BL Designator shall have the right, but not the obligation, to designate, and the individuals nominated for
election as Directors by or at the direction of the Board or a duly-authorized committee thereof shall include, a number of individuals such that, upon the election of each such individual, and each other individual nominated by or at the direction
of the Board or a duly authorized committee of the Board, as a Director and taking into account any Director continuing to serve without the need for re-election, the number of BL Designees (as defined below)
serving as Directors of the Company will be equal to: (i) if the BL Investors collectively hold at least 40% of the aggregate outstanding Class A Common Stock on a Fully Exchanged Basis, the lowest whole number that is greater than 40% of
the Total Number of Directors; (ii) if the BL Investors collectively hold at least 30% (but less than 40%) of the aggregate outstanding Class A Common Stock on a Fully Exchanged Basis, the lowest whole number that is greater than 30% of
the Total Number of Directors; (iii) if the BL Investors collectively hold at least 20% (but less than 30%) of the aggregate outstanding Class A Common Stock on a Fully Exchanged Basis, the lowest whole number that is greater than 20% of
the Total Number of Directors; and (iv) if the BL Investors collectively hold at least 5% (but less than 20%) of the aggregate outstanding Class A Common Stock on a Fully Exchanged Basis, the lowest whole number (such number always being
equal to or greater than one) that is greater than 10% of the Total Number of Directors (in each case, each such person a “BL Designee”). 

(c) If at any time the Blackstone Designator or the BL Designator (each, a “Stockholder Designator”) has designated fewer than
the total number of individuals that it is then entitled to designate pursuant to Section 2.1(a) or Section 2.1(b) hereof, the Blackstone Designator or the BL Designator, as applicable, shall have
the right, at any time and from time to time, to designate such additional individuals which it is entitled to so designate, in which case, any individuals nominated by or at the direction of the Board or any duly-authorized committee thereof for
election as Directors to fill any vacancy on the Board shall include such designees, and the Company shall use its best efforts to (i) effect the election of such additional designees, whether by increasing the size of the Board or otherwise,
and (ii) cause the election of such additional designees to fill any such newly-created vacancies or to fill any other existing vacancies. 

  
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 (d) Directors are subject to removal pursuant to the applicable provisions of the Amended
and Restated Certificate of Incorporation of the Company; provided, however, for as long as this Agreement remains in effect, the Blackstone Designees may only be removed with the consent of the Blackstone Designator and the BL
Designees may only be removed with the consent of the BL Designator, in each case delivered in accordance with Section 5.13 hereof. 

(e) In the event that a vacancy is created at any time by death, disability, retirement, removal (with or without cause), disqualification,
resignation or otherwise with respect to the Blackstone Designees or the BL Designees, any individual nominated by or at the direction of the Board or any duly-authorized committee thereof to fill such vacancy shall be, and the Company shall use its
best efforts to cause such vacancy to be filled, as soon as possible, by a new designee of the Blackstone Designator or the BL Designator, as applicable. 

(f) The Company shall, to the fullest extent permitted by law, include in the slate of nominees recommended by the Board at any meeting of
stockholders called for the purpose of electing directors (or consent in lieu of meeting), the persons designated pursuant to this Section 2.1 and use its best efforts to cause the election of each such designee to the
Board, including nominating each such individual to be elected as a Director as provided herein, recommending such individual’s election and soliciting proxies or consents in favor thereof. In the event that any Stockholder Designee shall fail
to be elected to the Board at any meeting of stockholders called for the purpose of electing directors (or consent in lieu of meeting), the Company shall use its best efforts to cause such Stockholder Designee (or a new designee of the applicable
Stockholder Designator) to be elected to the Board, as soon as possible, and the Company shall take or cause to be taken, to the fullest extent permitted by law, at any time and from time to time, all actions necessary to accomplish the same,
including, without limitation, actions to effect an increase in the Total Number of Directors. 
 (g) Each Principal Stockholder hereby
agrees to vote in favor of and to consent to the Stockholder Designees in connection with each vote taken or written consent executed in connection with the election of Directors to the Board, and each Principal Stockholder agrees not to seek to
remove or replace the Stockholder Designees. 
 (h) In addition to any vote or consent of the Board or the stockholders of the Company
required by applicable Law or the certificate of incorporation or bylaws of the Company, and notwithstanding anything to the contrary in this Agreement, for so long as this Agreement is in effect, any action by the Board to increase or decrease the
Total Number of Directors (other than any increase in the Total Number of Directors in connection with the election of one or more Directors elected exclusively by the holders of one or more classes or series of the Company’s shares other than
Common Stock) shall require the prior written consent of the Blackstone Designator and the BL Designator, delivered in accordance with Section 5.13 hereof. 

  
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 2.2 Compensation. Except to the extent the Blackstone Designator or the BL Designator
may otherwise notify the Company with respect to the Blackstone Designees or the BL Designees, respectively, any Stockholder Designees shall be entitled to compensation consistent with the Director compensation received by other Directors, including
any fees and equity awards, provided, that (x) to the extent any Director compensation is payable in the form of equity awards, at the election of a Stockholder Designee, in lieu of any equity award, such compensation shall be paid in an amount
of cash equal to the value of the equity award as of the date of the award, with any such cash subject to the same vesting terms, if any, as the equity awarded to other Directors and (y) at the election of a Stockholder Designee, any Director
compensation (whether cash, equity awards and/or cash in lieu of equity as may be designated by the electing Stockholder Designee) shall be paid to a Principal Stockholder or an Affiliate thereof specified by such Stockholder Designee rather than to
such Stockholder Designee. If the Company adopts a policy that Directors own a minimum amount of equity in the Company, Stockholder Designees shall not be subject to such policy. 

2.3 Other Rights of Stockholder Designees. Except as provided in Section 2.2, each Stockholder Designee
serving on the Board shall be entitled to the same rights and privileges applicable to all other members of the Board generally or to which all such members of the Board are entitled. In furtherance of the foregoing, the Company shall indemnify,
exculpate, and reimburse fees and expenses of the Stockholder Designees (including by entering into an indemnification agreement in a form substantially similar to the Company’s form director indemnification agreement) and provide the
Stockholder Designees with director and officer insurance to the same extent it indemnifies, exculpates, reimburses and provides insurance for the other members of the Board pursuant to the certificate of incorporation or bylaws of the Company,
applicable law or otherwise. 
 2.4 Director Independence. Notwithstanding anything to the contrary herein, the parties hereto shall
ensure that the composition of the Board will continue to meet all requirements for a company listed on the New York Stock Exchange (or such other stock exchange on which the Class A Common Stock may be listed), including with respect to
director independence. 
 ARTICLE III. 

INFORMATION; VCOC 

3.1 Books and Records; Access. The Company shall, and shall cause its Subsidiaries to, keep proper books, records and accounts, in
which full and correct entries shall be made of all financial transactions and the assets and business of the Company and each of its Subsidiaries in accordance with generally accepted accounting principles. The Company shall, and shall cause its
Subsidiaries to, (a) permit the Principal Stockholders and their respective designated representatives (or other designees), at reasonable times and upon reasonable prior notice to the Company, to review the books and records of the Company or
any of such Subsidiaries and to discuss the affairs, finances and condition of the Company or any of such Subsidiaries with the officers of the Company or any such Subsidiary and (b) provide the Principal Stockholders all information of a type,
at such times and in such manner as is consistent with the Company’s past practice or that is otherwise reasonably requested by such Principal Stockholders from time to time (all such information so furnished pursuant to this

  
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Section 3.1, the “Information”). Subject to Section 3.4, any Principal Stockholder (and any party receiving Information from a
Principal Stockholder) who shall receive Information shall maintain the confidentiality of such Information. Notwithstanding the foregoing, that the Company shall not be required to disclose any privileged Information of the Company so long as the
Company has used commercially reasonable efforts to enter into an arrangement pursuant to which it may provide such information to the Principal Stockholders without the loss of any such privilege. 

3.2 Certain Reports. The Company shall deliver or cause to be delivered to the Principal Stockholders, at their request: 

(a) to the extent otherwise prepared by the Company, operating and capital expenditure budgets and periodic information packages relating to
the operations and cash flows of the Company and its Subsidiaries; and 
 (b) to the extent otherwise prepared by the Company, such other
reports and information as may be reasonably requested by the Principal Stockholders; provided, however, that the Company shall not be required to disclose any privileged information of the Company so long as the Company has used commercially
reasonable efforts to enter into an arrangement pursuant to which it may provide such information to the Principal Stockholders without the loss of any such privilege. 

3.3 VCOC.
 (a) With respect
to each Principal Stockholder or Affiliate thereof that is intended to qualify its direct or indirect investment in the Company as a “venture capital investment” as defined in the Department of Labor regulations codified at 29 CFR Section 2510.3-101 (the “Plan Asset Regulation”) (each, a “VCOC Investor”), for so long as the VCOC Investor, directly or through one or more subsidiaries, continues to hold
any Common Stock (or other securities of the Company into which such Common Stock may be converted or for which such Common Stock may be exchanged), without limitation or prejudice of any of the rights provided to the Principal Stockholders
hereunder, the Company shall, with respect to each such VCOC Investor: 
 (i) provide each VCOC Investor or its designated representative
with: 
 (A) upon reasonable notice and at mutually convenient times, the right to visit and inspect any of the offices and properties of
the Company and its Subsidiaries and inspect and copy the books and records of the Company and its Subsidiaries; 
 (B) as soon as available
and in any event within 45 days after the end of each of the first three quarters of each fiscal year of the Company, consolidated balance sheets of the Company and its Subsidiaries as of the end of such period, and consolidated statements of income
and cash flows of the Company and its Subsidiaries for the period then ended prepared in conformity with generally accepted accounting principles in the United States applied on a consistent basis, except as otherwise noted therein, and subject to
the absence of footnotes and to year-end adjustments; 

  
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 (C) as soon as available and in any event within 120 days after the end of each fiscal year
of the Company, a consolidated balance sheet of the Company and its Subsidiaries as of the end of such year, and consolidated statements of income and cash flows of the Company and its Subsidiaries for the year then ended prepared in conformity with
generally accepted accounting principles in the United States applied on a consistent basis, except as otherwise noted therein, together with an auditor’s report thereon of a firm of established national reputation; 

(D) to the extent the Company is required by law or pursuant to the terms of any outstanding indebtedness of the Company to prepare such
reports, any annual reports, quarterly reports and other periodic reports pursuant to Section 13 or 15(d) of the Exchange Act, actually prepared by the Company as soon as available; and 

(E) upon written request by the VCOC Investor, copies of all materials provided to the Board, subject to appropriate protections with respect
to confidentiality and preservation of attorney-client privilege; provided, that, in each case, if the Company makes the information described in clauses (B), (C) and (D) of this
Section 3.3(a)(i) available through public filings on the EDGAR System or any successor or replacement system of the U.S. Securities and Exchange Commission, the requirement to deliver such information shall be deemed
satisfied; 
 (ii) make appropriate officers and/or Directors of the Company available, and cause the officers and directors of its
Subsidiaries to be made available, periodically and at such times as reasonably requested by each VCOC Investor, upon reasonable notice and at mutually convenient times, for consultation with such VCOC Investor or its designated representative with
respect to matters relating to the business and affairs of the Company and its Subsidiaries; 
 (iii) to the extent that the VCOC Investor
requests to receive such information and rights, and to the extent consistent with applicable Law or listing standards (and with respect to events which require public disclosure, only following the Company’s public disclosure thereof through
applicable securities law filings or otherwise), inform each VCOC Investor or its designated representative in advance with respect to any significant corporate actions, and to provide (or cause to be provided) each VCOC Investor or its designated
representative with the right to consult with the Company and its Subsidiaries with respect to such actions should the VCOC Investor elect to do so; provided, however, that this right to consult must be exercised within five days after the
Company informs the VCOC Investor of the proposed corporate action; provided, further, that the Company shall be under no obligation to provide the VCOC Investor with any material non-public information
with respect to such corporate action; and 
 (iv) provide each VCOC Investor or its designated representative with such other rights of
consultation which the VCOC Investor’s counsel may determine in writing to be reasonably necessary under applicable legal authorities promulgated after the date hereof to qualify its investment in the Company as a “venture capital
investment” for purposes of the Plan Asset Regulation; provided that the parties agree that any such rights of consultation shall be of a nature consistent with those granted above and nothing in this Agreement shall be deemed to require
the Company to grant to the VCOC Investor any additional rights with respect to the governance or management of the Company. 

  
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 (b) The Company agrees to consider, in good faith, the recommendations of each VCOC Investor
or its designated representative in connection with the matters on which it is consulted as described above in this Section 3.3, recognizing that the ultimate discretion with respect to all such matters shall be retained by
the Company. 
 (c) In the event a VCOC Investor or any of its Affiliates Transfers all or any portion of their investment in the Company to
an Affiliated entity that is intended to qualify its investment in the Company as a “venture capital investment” (as defined in the Plan Asset Regulation), such Transferee shall be afforded the same rights with respect to the Company
afforded to the VCOC Investor hereunder and shall be treated, for such purposes, as a third party beneficiary hereunder. 
 (d) In the event
that the Company ceases to qualify as an “operating company” (as defined in the first sentence of 2510.3-101(c)(1) of the Plan Asset Regulation), or the investment in the Company by a VCOC Investor
does not qualify as a “venture capital investment” as defined in the Plan Asset Regulation, then the Company and each Principal Stockholder will cooperate in good faith and take all reasonable actions necessary, subject to applicable Law,
to preserve the VCOC status of each VCOC Investor or the qualification of the investment as a “venture capital investment,” it being understood that such reasonable actions shall not require a VCOC Investor to purchase or sell any
investments. 
 (e) For so long as the VCOC Investor, directly or through one or more subsidiaries, continues to hold any Common Stock (or
other securities of the Company into which such Common Stock may be converted or for which such Common Stock may be exchanged) and upon the written request of such VCOC Investor, without limitation or prejudice of any of the rights provided to the
Principal Stockholders hereunder, the Company shall, with respect to each such VCOC Investor, furnish and deliver a letter covering the matters set forth in Sections 3.3(a), 3.3(b), 3.3(c) and 3.3(d) hereof in a form and
substance satisfactory to such VCOC Investor. 
 (f) In the event a VCOC Investor is an Affiliate of a Principal Stockholder, as described in
Section 3.3(a) above, such affiliated entity shall be afforded the same rights with respect to the Company and afforded to the Principal Stockholder under this Section 3.3 and shall be treated, for
such purposes, as a third party beneficiary hereunder. 
 3.4 Confidentiality. Each Principal Stockholder agrees that it will, and
will direct its designated representatives to, keep confidential and not disclose any Confidential Information; provided, however, that such Principal Stockholder and its designated representatives may disclose Confidential Information
to the other Principal Stockholders, to the Stockholder Designees and to (a) its Affiliates and its Affiliates’ attorneys, accountants, consultants, insurers, financing sources and other advisors in connection with such Principal
Stockholder’s investment in the Company, (b) any Person, including a prospective purchaser of Common Stock or LLC Units, as long as such Person has agreed, in writing, to maintain the confidentiality of such Confidential Information,
(c) any of such Principal Stockholder’s or its 

  
 11 

 
respective Affiliates’ partners, members, stockholders, directors, officers, employees or agents in the ordinary course of business (the Persons referenced in clauses (a), (b) and (c), a
Principal Stockholder’s “designated representatives”) or (d) as the Company may otherwise consent in writing; provided, further, however, that each Principal Stockholder agrees to be responsible for any
breaches of this Section 3.4 by such Principal Stockholder’s designated representatives. 
 3.5 Information
Sharing. Each party hereto acknowledges and agrees that Stockholder Designees may share any information concerning the Company and its Subsidiaries received by them from or on behalf of the Company or its designated representatives with each
Principal Stockholder and its designated representatives (subject to such Principal Stockholder’s obligation to maintain the confidentiality of Confidential Information in accordance with Section 3.4). 

ARTICLE IV. 

ADDITIONAL COVENANTS 

4.1 Pledges or Transfers. Upon the request of any Principal Stockholder that wishes to (x) pledge, hypothecate or
grant security interests in any or all of the shares of Common Stock or LLC Units held by it including to banks or financial institutions as collateral or security for loans, advances or extensions of credit or (y) transfer any or all of the
shares of Common Stock or LLC Units held by it, including to a third party investor, the Company agrees to cooperate with such Principal Stockholder in taking any action reasonably necessary to consummate any such pledge, hypothecation, grant or
transfer, including without limitation, delivery of letter agreements to lenders in form and substance reasonably satisfactory to such lenders (which may include agreements by the Company in respect of the exercise of remedies by such lenders),
instructing the transfer agent to transfer any such shares of Common Stock subject to the pledge, hypothecation or grant into the facilities of The Depository Trust Company without restricted legends and cooperating in diligence or other matters as
may reasonably requested by any Principal Stockholder in connection with a proposed transfer. In connection with any such transfer to a third party investor (other than a Public Offering as defined in the Registration Rights Agreement), the
initiating Principal Stockholder shall use its reasonable best efforts to ensure that each other Principal Stockholder has a reasonable opportunity to participate in such transfer on a pro rata basis on the same terms and conditions as agreed
to by the initiating Principal Stockholder. 
 4.2 Spin-Offs or Split-Offs. In the event that the Company effects the separation of
any portion of its business into one or more entities (each, a “NewCo”), whether existing or newly formed, including without limitation by way of spin-off,
split-off, carve-out, demerger, recapitalization, reorganization or similar transaction, and any Principal Stockholder will receive equity interests in any such NewCo as
part of such separation, the Company shall cause any such NewCo to enter into a Stockholders agreement with the Principal Stockholders that provides the Principal Stockholders with rights vis-á-vis such NewCo that are substantially identical to those set forth in this Agreement. 

  
 12 

 4.3 Principal Stockholder Lock-Up. During the
180 day period immediately following the Closing Date (the “Lock-Up Period”), each Principal Stockholder shall not, and shall cause any other holder of record of any of such Principal
Stockholder’s Covered Shares (other than Excluded Shares) not to, Transfer any of such Principal Stockholder’s Covered Shares (other than Excluded Shares). Notwithstanding the immediately preceding sentence, post-Closing Transfers of
Covered Shares (other than Excluded Shares) that are held by any Principal Stockholder or any of its Permitted Transferees (as defined below) that have entered into a written agreement contemplated by the proviso in this
Section 4.3 are permitted (i) to any investment fund or other entity controlled or managed by such Principal Stockholder, to such Principal Stockholder’s officers or directors, any Affiliates or family members of
any of such Principal Stockholder’s officers or directors, any limited partners, members or stockholders of such Principal Stockholder or any Affiliates of the Principal Stockholders; (ii) in the case of an individual, by gift to a member
of the individual’s immediate family, or to a trust, the beneficiary of which is a member of the individual’s immediate family or an Affiliate of such person, or to a charitable organization; (iii) in the case of an individual, by
virtue of laws of descent and distribution upon death of the individual; (iv) in the case of an individual, pursuant to a qualified domestic relations order; (v) by virtue of the laws of the jurisdiction of incorporation or formation of
such Principal Stockholder or the organizational documents of such Principal Stockholder, as amended from time to time, upon dissolution of such Principal Stockholder; or (vi) in the event of the Company’s completion of a liquidation,
merger, amalgamation, share exchange, reorganization or other similar transaction which results in the holders of all of the shares of Class A Common Stock and/or LLC Units having the right to exchange their shares for cash, securities or other
property subsequent to the completion of the Equity Transactions (including the entry into an agreement in connection with such liquidation, merger, amalgamation, share exchange, reorganization or other similar transaction); provided,
however, that each transferee contemplated by clauses (i) through (v) (each, a “Permitted Transferee”) must enter into a written agreement with the Company agreeing to be bound by the restrictions in this
Section 4.3. For the avoidance of doubt, the Excluded Shares purchased (1) pursuant to a PIPE Agreement or (2) on the open market shall not be subject to the provisions of this
Section 4.3. Any Transfer in violation of the provisions of this Section 4.3 shall be null and void ab initio and of no force or effect. 

ARTICLE V. 

GENERAL PROVISIONS 

5.1 Termination. Subject to the early termination of any provision as a result of an amendment to this Agreement agreed to by the
Board and the Principal Stockholders, as provided under Section 5.3, and except for Section 3.3 hereof, this Agreement, excluding Article V hereof, shall terminate with respect to each Principal
Stockholder at such time as such Principal Stockholder and its Affiliates collectively hold less than 5% of the aggregate outstanding Class A Common Stock on a Fully Exchanged Basis or such earlier time as such Principal Stockholder shall
deliver a written notice to the Company requesting that this Agreement terminate with respect to such Principal Stockholder in accordance with Section 5.3(d). The VCOC Investors shall advise the Company when they
collectively first cease to hold any Common Stock (or other securities of the Company into which such Common Stock may be converted or for which such Common Stock may be exchanged), whereupon Section 3.3 hereof shall
terminate. 
 5.2 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 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 

  
 13 

 
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 facsimile (receipt confirmed) and one (1) Business Day after deposit with a reputable overnight courier service. 

The Company’s address is: 

Finance of America Companies Inc. 

909 Lake Carolyn Parkway, Suite 1550 

Irving, Texas 75039 
 Attention:
Anthony W. Villani, Chief Legal Officer 
 Email: [email address] 

Each Principal Stockholder’s address is: 

The Blackstone Group Inc. 
 345
Park Avenue 
 New York, New York 10154 

Attention: Menes Chee 
 Email:
[email address] 
 BL Investor 

c/o Libman Family Holdings, LLC 

[address] 
 Attention: Brian
Libman 
 Email: [email address] 

5.3 Amendment; Waiver. (a) The terms and provisions of this Agreement may be modified or amended only with the written approval of the
Company and Principal Stockholders holding a majority of the aggregate outstanding Class A Common Stock on a Fully Exchanged Basis then held by the Principal Stockholders in the aggregate; provided, however, that any modification or
amendment (i) to Section 2.1 or this Section 5.3 shall also require the approval of the Blackstone Designator and the BL Designator and (ii) that would adversely affect the rights of a
Principal Stockholder shall also require the approval of such Principal Stockholder. 
 (b) Except as expressly set forth in this Agreement,
neither the failure nor delay on the part of any party hereto to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right, remedy power or privilege
preclude any other or further exercise of the same or of any other right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege with respect to any occurrence be construed as a waiver of such right, remedy, power
or privilege with respect to any other occurrence. 
 (c) No party shall be deemed to have waived any claim arising out of this Agreement, or
any right, remedy, power or privilege under this Agreement, unless the waiver of such claim, right, remedy, power or privilege is expressly set forth in a written instrument duly executed and delivered on behalf of such party; and any such waiver
shall not be applicable or have any effect except in in the specific instance in which it is given. 

  
 14 

 (d) Each Principal Stockholder, in such Principal Stockholder’s sole discretion, may
withdraw from this Agreement at any time by written notice to the Company. Thereafter, such Principal Stockholder shall cease to be a party to this Agreement, shall have no further rights or obligations hereunder and none of the terms or provisions
hereof shall have any continuing force and effect with respect to such Principal Stockholder; provided, that until the expiration of the Lock-Up Period the transfer restrictions set forth in
Section 4.3 shall survive any such withdrawal and shall continue to apply to the Covered Shares of such withdrawing Principal Stockholder as if it were a party hereto. 

(e) Any party hereto may unilaterally waive any of its rights hereunder in a signed writing delivered to the Company. 

5.4 Further Assurances. The parties hereto will sign such further documents, cause such meetings to be held, resolutions passed,
exercise their votes and do and perform and cause to be done such further acts and things necessary, proper or advisable in order to give full effect to this Agreement and every provision hereof. To the fullest extent permitted by law, the Company
shall not directly or indirectly take any action that is intended to, or would reasonably be expected to result in, any Principal Stockholder being deprived of the rights contemplated by this Agreement. 

5.5 Assignment. Each Principal Stockholder may, without the consent of the Company or any other Person, assign its rights and
obligations under this Agreement, in whole or in part, to any Transferee of Common Stock and/or LLC Units so long as such Transferee, if not already a party to this Agreement, executes and delivers to the Company a joinder to this Agreement
evidencing its agreement to become a party to and to be bound by certain or all, as applicable, of the provisions of this Agreement as a “Blackstone Investor” or “BL Investor,” as applicable, hereunder, whereupon such Transferee
shall be deemed a “Blackstone Investor” or “BL Investor,” as applicable, hereunder. This Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors and permitted assigns. 

5.6 Third Parties. Except as provided for in Article III with respect to any VCOC Investor that is an Affiliate of a Principal
Stockholder, this Agreement does not create any rights, claims or benefits inuring to any person that is not a party hereto nor create or establish any third party beneficiary hereto. 

5.7 Governing Law. THIS AGREEMENT AND ITS ENFORCEMENT AND ANY CONTROVERSY ARISING OUT OF OR RELATING TO THE MAKING OR PERFORMANCE
OF THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 5.8 Jurisdiction; Waiver of
Jury Trial. Each party hereto hereby (i) agrees that any action, directly or indirectly, arising out of, under or relating to this Agreement shall exclusively be brought in and shall exclusively be heard and determined by either the
Supreme Court of the State of New York sitting in Manhattan or the United States District Court for the 

  
 15 

 
Southern District of New York, and (ii) solely in connection with the action(s) contemplated by subsection (i) hereof, (A) irrevocably and unconditionally consents and submits to the
exclusive jurisdiction of the courts identified in subsection (i) hereof, (B) irrevocably and unconditionally waives any objection to the laying of venue in any of the courts identified in clause (i) of this
Section 5.8, (C) irrevocably and unconditionally waives and agrees not to plead or claim that any of the courts identified in such clause (i) is an inconvenient forum or does not have personal jurisdiction over any
party hereto, and (D) agrees that mailing of process or other papers in connection with any such action in the manner provided herein or in such other manner as may be permitted by applicable law shall be valid and sufficient service thereof.
EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY CLAIM OR ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
AGREEMENT OR THE SERVICES CONTEMPLATED HEREBY. 
 5.9 Specific Performance. Each party hereto acknowledges and agrees that in the
event of any breach of this Agreement by any of them, the other parties hereto would be irreparably harmed and could not be made whole by monetary damages. Each party accordingly agrees to waive the defense in any action for specific performance
that a remedy at law would be adequate and agrees that the parties, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to specific performance of this Agreement without the posting of a bond. 

5.10 Entire Agreement. This Agreement sets forth the entire understanding of the parties hereto with respect to the subject matter
hereof. There are no agreements, representations, warranties, covenants or understandings with respect to the subject matter hereof or thereof. This Agreement supersedes all other prior agreements and understandings between the parties with respect
to such subject matter. 
 5.11 Severability. If any provision of this Agreement, or the application of such provision to any Person
or circumstance or in any jurisdiction, shall be held to be invalid or unenforceable to any extent, (i) the remainder of this Agreement shall not be affected thereby, and each other provision hereof shall be valid and enforceable to the fullest
extent permitted by law, (ii) as to such Person or circumstance or in such jurisdiction such provision shall be reformed to be valid and enforceable to the fullest extent permitted by law, and (iii) the application of such provision to
other Persons or circumstances or in other jurisdictions shall not be affected thereby. 
 5.12 Table of Contents, Headings and
Captions. The table of contents, headings, subheadings and captions contained in this Agreement are included for convenience of reference only, and in no way define, limit or describe the scope of this Agreement or the intent of any
provision hereof. 
 5.13 Grant of Consent. Any vote, consent or approval of, or designation by, or other action of, a
Stockholder Designator hereunder shall be effective if notice of such vote, consent, approval, designation or action is provided in accordance with Section 5.2 hereof by such Stockholder Designator as of the latest date any
such notice is so provided to the Company. 

  
 16 

 5.14 Counterparts. This Agreement and any amendment hereto may be signed in any
number of separate counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one Agreement (or amendment, as applicable). 

5.15 Effectiveness. This Agreement shall become effective upon the Closing Date. 

5.16 No Recourse. This Agreement may only be enforced against, and any claims or cause of action that may be based upon, arise out
of or relate to this Agreement, or the negotiation, execution or performance of this Agreement, the transactions contemplated hereby or the subject matter hereof may only be made against the parties hereto and no past, present or future Affiliate,
director, officer, employee, incorporator, member, manager, partner, stockholder, agent, attorney or representative of any party hereto or any past, present or future Affiliate, director, officer, employee, incorporator, member, manager, partner,
stockholder, agent, attorney or representative of any of the foregoing (each, a “Non-Recourse Party”) shall have any liability for any obligations or liabilities of the parties to this Agreement or
for any claim based on, in respect of, or by reason of, the transactions contemplated hereby. Without limiting the rights of any party against the other parties hereto, in no event shall any party or any of its Affiliates seek to enforce this
Agreement against, make any claims for breach of this Agreement against, or seek to recover monetary damages from, any Non-Recourse Party. 

[Remainder of Page Intentionally Left Blank] 

  
 17 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year
first above written. 
  

			
	COMPANY:
	
	FINANCE OF AMERICA COMPANIES INC.
		
	By:	 	 /s/ Patricia L. Cook

	Name:	 	Patricia L. Cook
	Title:	 	Chief Executive Officer

 [Signature Page to Finance of America Companies Inc. Stockholders Agreement] 

 
			
	BLACKSTONE INVESTORS:
	
	BLACKSTONE TACTICAL OPPORTUNITIES FUND (URBAN FEEDER) – NQ L.P.
		
	By:	 	 BLACKSTONE TACTICAL
 OPPORTUNITIES ASSOCIATES
– NQ L.L.C., its general partner

		
	By:	 	BTOA – NQ L.L.C., its sole member 
		
	By:	 	 /s/ Christopher J. James

		 	 Name: Christopher J. James
 Title: Authorized
Person

	
	BLACKSTONE TACTICAL OPPORTUNITIES ASSOCIATES – NQ L.L.C.
		
	By: 	 	BTOA – NQ L.L.C., its sole member
		
	By:	 	 /s/ Christopher J. James

		 	 Name: Christopher J. James
 Title: Authorized
Person

	
	BTO URBAN HOLDINGS L.L.C.
		
	By:	 	 /s/ Menes Chee

		 	 Name: Menes Chee
 Title: Authorized
Person

 [Signature Page to Finance of America Companies Inc. Stockholders Agreement] 

 
			
	BTO URBAN HOLDINGS II L.P.
		
	By:	 	Blackstone Tactical Opportunities Associates – NQ L.L.C., its general partner
		
	By:	 	BTOA – NQ L.L.C., its sole member
		
	By:	 	 /s/ Christopher J. James

		 	 Name: Christopher J. James
 Title: Authorized
Person

	
	BLACKSTONE FAMILY TACTICAL OPPORTUNITIES INVESTMENT PARTNERSHIP – NQ – ESC L.P.
		
	By:	 	BTO – NQ SIDE-BY-SIDE GP L.L.C., 
its general partner
		
	By:	 	 /s/ Christopher J. James

		 	 Name: Christopher J. James
 Title: Authorized
Person

 [Signature Page to Finance of America Companies Inc. Stockholders Agreement] 

 
			
	 BL INVESTORS:
  

LIBMAN FAMILY HOLDINGS LLC

		
	By:	 	 /s/ Brian L. Libman

		 	 Name: Brian L. Libman
 Title:
Manager

	
	THE MORTGAGE OPPORTUNITY GROUP LLC
		
	By:	 	 /s/ Brian L. Libman

		 	 Name: Brian L. Libman
 Title:
Manager

 [Signature Page to Finance of America Companies Inc. Stockholders Agreement]EX-10.3

 Exhibit 10.3 

REGISTRATION RIGHTS AGREEMENT 

by and among 
 FINANCE
OF AMERICA COMPANIES INC. 
 and 

THE OTHER PARTIES HERETO 

Dated as of April 1, 2021 

 TABLE OF CONTENTS 

 

					
			
		 		  	Page
		
	ARTICLE I DEFINITIONS	  	1
			
	 Section 1.1
	 	Certain Definitions	  	1
			
	 Section 1.2
	 	Other Definitional Provisions; Interpretation	  	5
		
	ARTICLE II REGISTRATION RIGHTS	  	5
			
	 Section 2.1
	 	Right to Demand a Non-Shelf Registered Offering	  	5
			
	 Section 2.2
	 	Right to Piggyback on a Non-Shelf Registered Offering	  	6
			
	 Section 2.3
	 	Right to Demand and be Included in a Shelf Registration	  	6
			
	 Section 2.4
	 	Demand and Piggyback Rights for Shelf Takedowns	  	6
			
	 Section 2.5
	 	Right to Reload a Shelf	  	7
			
	 Section 2.6
	 	Effective Registration	  	7
			
	 Section 2.7
	 	Limitations on Demand and Piggyback Rights	  	7
			
	 Section 2.8
	 	Notifications Regarding Registration Statements	  	8
			
	 Section 2.9
	 	Notifications Regarding Registration Piggyback Rights	  	9
			
	 Section 2.10
	 	Notifications Regarding Demanded Underwritten Takedowns	  	9
			
	 Section 2.11
	 	Plan of Distribution, Underwriters and Counsel	  	10
			
	 Section 2.12
	 	Cutbacks	  	10
			
	 Section 2.13
	 	Lockups	  	10
			
	 Section 2.14
	 	Withdrawals	  	11
			
	 Section 2.15
	 	Expenses	  	11
			
	 Section 2.16
	 	Facilitating Registrations and Offerings	  	11
			
	 Section 2.17
	 	In-Kind Distributions	  	17
		
	ARTICLE III INDEMNIFICATION	  	17
			
	 Section 3.1
	 	Indemnification by the Registrant	  	17
			
	 Section 3.2
	 	Indemnification by the Holders	  	18
			
	 Section 3.3
	 	Notices of Claims, Etc.	  	18
			
	 Section 3.4
	 	Contribution	  	19
			
	 Section 3.5
	 	Non-Exclusivity	  	20
		
	ARTICLE IV OTHER	  	20
			
	 Section 4.1
	 	Notices	  	20
			
	 Section 4.2
	 	Transfer Rights	  	21
			
	 Section 4.3
	 	Current Public Information	  	21

  
 i 

					
			
	 Section 4.4
	 	Limited Liability	  	22
			
	 Section 4.5
	 	No Inconsistent Agreements	  	22
			
	 Section 4.6
	 	Amendments; Waiver	  	22
			
	 Section 4.7
	 	Third Parties	  	22
			
	 Section 4.8
	 	Governing Law	  	22
			
	 Section 4.9
	 	CONSENT TO JURISDICTION	  	22
			
	 Section 4.10
	 	MUTUAL WAIVER OF JURY TRIAL	  	23
			
	 Section 4.11
	 	Specific Performance	  	23
			
	 Section 4.12
	 	Entire Agreement	  	23
			
	 Section 4.13
	 	Severability	  	23
			
	 Section 4.14
	 	Counterparts	  	23
			
	 Section 4.15
	 	Effectiveness	  	24
			
	 Section 4.16
	 	Registrant	  	24

  
 ii 

 REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (as amended from time to time, the “Agreement”) is dated as of April 1, 2021 and is
by and among Finance of America Companies Inc., a Delaware corporation (the “Registrant”), the Blackstone Investors (as defined below), the BL Investors (as defined below) and each other Holder (as defined below) from time to time
party hereto. 
 BACKGROUND 

WHEREAS, the Registrant desires to grant registration rights to the Blackstone Investors and the BL Investors on the terms and conditions set
out in this Agreement. 
 NOW, THEREFORE, the parties agree as follows: 

ARTICLE I 

DEFINITIONS 

Section 1.1 Certain Definitions. 

“Affiliate” has the meaning ascribed thereto in Rule 12b-2 promulgated under the
Exchange Act, as in effect on the date hereof. 
 “Agreement” has the meaning set forth in the preamble. 

“BL Entities” means the entities comprising the BL Investors, their respective Affiliates and the successors and permitted
assigns of the entities and their respective Affiliates. 
 “BL Investors” means the entities listed on the signature pages
hereto under the heading “BL Investors.” 
 “Blackstone Investors” means the entities listed on the signature
pages hereto under the heading “Blackstone Investors.” 
 “Blackstone Entities” means the entities comprising the
Blackstone Investors, their respective Affiliates and the successors and permitted assigns of the entities and their respective Affiliates. 

“Block Sale” means any non-marketed underwritten takedown offering taking the form of
a bought deal or block sale to a financial institution. 
 “Board” means the board of directors of the Registrant. 

“Business Day” means any day other than a Saturday, a Sunday or a day that is a statutory holiday under the laws of the
United States or the State of New York. 

  
 1 

 “Common Stock” means the Registrant’s Class A common stock, par
value $0.0001 per share. 
 “Control” (including its correlative meanings, “Controlled by” and
“under common Control with”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by
contract or otherwise) of a Person. 
 “Demand Party” shall have the meaning set forth in
Section 2.4. 
 “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and
the rules and regulations promulgated thereunder, as the same may be amended from time to time. 
 “FINRA” means the
Financial Industry Regulatory Authority, Inc. 
 “FOA OpCo” means Finance of America Equity Capital LLC, a Delaware limited
liability company. 
 “Governmental Authority” means any nation or government, any state or other political subdivision
thereof, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 

“Holder” means (a) each Principal Stockholder, (b) each Other Holder and (c) Transferees of Shares with the
rights set forth in Section 4.2(c). 
 “Indemnified Party” and Indemnified Parties”
have the meanings set forth in Section 3.1. 
 “Issuer Free Writing Prospectus” means an issuer
free writing prospectus, as defined in Rule 433 under the Securities Act, relating to an offer of the Registrable Securities. 

“Joinder Agreement” means an executed joinder to this Agreement from such Person substantially in the form of Exhibit A
attached hereto. 
 “Law” means any statute, law, regulation, ordinance, rule, injunction, order, decree, governmental
approval, directive, requirement, or other governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration of any of the foregoing by, any Governmental Authority. 

“LLC Agreement” means FOA OpCo’s Amended and Restated Limited Liability Company Agreement, dated as of April 1,
2021, as amended from time to time. 
 “LLC Unit” means (i) each Class A Unit (as such term is defined in the LLC
Agreement) issued as of the date hereof and (ii) each Class A Unit or other interest in FOA OpCo that may be issued by FOA OpCo in the future that is designated by the Registrant as a “LLC Unit.” 

“Marketed Underwritten Shelf Offering” has the meaning set forth in Section 2.4. 

“NewCo” has the meaning set forth in Section 4.2(d). 

  
 2 

 “Other Holder” means (a) each Holder, if any, other than a Principal
Stockholder, and (b) any Transferee to whom the rights and obligations of an “Other Holder” under this Agreement are assigned pursuant to Section 4.2 and who executes a Joinder Agreement as an “Other
Holder” and in each case, is a holder of Registrable Securities or securities exercisable, exchangeable or convertible into Registrable Securities. 

“Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, a cooperative, an unincorporated organization, or other form of business organization, whether or not regarded as a legal entity under applicable Law, or any Governmental Authority or any department, agency or
political subdivision thereof. 
 “PIPE Subscription Agreements” means those certain subscription agreements, each dated
October 12, 2020, entered into by and among the Registrant, Replay Acquisition Corp., BTO Urban Holdings LLC, Libman Family Holdings LLC, Finance of America Equity Capital LLC and the Persons identified therein as “Subscribers.” 

“Principal Stockholder” means (a) any Blackstone Entity, (b) any BL Entity and (c) any Transferee to whom the
rights and obligations of a “Principal Stockholder” under this Agreement are assigned pursuant to Section 4.2 and who executes a Joinder Agreement as a “Principal Stockholder” and in each case, is a
holder of Registrable Securities or securities exercisable, exchangeable or convertible into Registrable Securities. 
 “Public
Offering” shall mean a public offering and sale of Common Stock of the Registrant for cash, other than by the Registrant, pursuant to an effective registration statement under the Securities Act. 

“Registrable Securities” means all Shares, provided that such Shares will cease to be Registrable Securities when: 

(a) a registration statement covering such Registrable Securities has been declared effective and such Registrable Securities have been
disposed of pursuant to such registration statement; 
 (b) such Registrable Securities shall have been sold pursuant to Rule 144 or 145 (or
any similar provision then in effect) under the Securities Act; or 
 (c) such Registrable Securities cease to be outstanding. 

“Registration Expenses” means any and all expenses incurred in connection with the performance of or compliance with this
Agreement, including: 
 (a) all SEC, stock exchange, or FINRA registration and filing fees (including, if applicable, the fees and expenses
of any “qualified independent underwriter,” as such term is defined in Rule 5121 of FINRA, and of its counsel); 

  
 3 

 (b) all fees and expenses of complying with securities or blue sky Laws (including fees and
disbursements of counsel for the underwriters in connection with blue sky qualifications of the Registrable Securities); 
 (c) all printing,
duplicating, word processing, messenger, telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing
prospectuses); 
 (d) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange
or FINRA and all rating agency fees; 
 (e) the fees and disbursements of counsel for the Registrant and of its independent public
accountants, including the expenses of any special audits and/or “cold comfort” letters required by or incident to such performance and compliance; 

(f) any fees and disbursements of underwriters customarily paid by the issuers or sellers of Securities, including liability insurance if the
Registrant so desires or if the underwriters so require, and the reasonable fees and expenses of any special experts retained in connection with the requested registration, but excluding underwriting discounts and commissions and transfer taxes, if
any; 
 (g) any fees and disbursements of counsel (including the fees and disbursements of one separate outside counsel (and local and
special counsel, to the extent necessary) for each Principal Stockholder) incurred in connection with any registration statement or registered offering covering Registrable Securities held by the Holders; 

(h) all fees and expenses of one accountant selected by the Holders of a majority of the Registrable Securities being registered; 

(i) the costs and expenses of the Registrant relating to analyst and investor presentations or any “road show” undertaken in
connection with the registration and/or marketing of the Registrable Securities (including the reasonable out-of-pocket expenses of the Holders); and 

(j) any other fees and disbursements customarily paid by the issuers of securities. 

“Registrant” has the meaning set forth in the preamble. 

“SEC” means the U.S. Securities and Exchange Commission or any successor agency. 

“Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as
the same may be amended from time to time. 
 “Shares” means (i) all shares of Common Stock of the Registrant held by
Holders from time to time, including any Shares held by Persons who are or become parties to this agreement by the execution and delivery of a Joinder Agreement, (ii) any Shares or other securities issued or issuable as a distribution with
respect to, or in exchange for or in replacement of any of the foregoing Shares or other securities held by such Holder, including LLC Units and (iii) any other securities issued or transferred in exchange for or upon conversion of any of the
foregoing Shares as a result of a merger, consolidation, reorganization or otherwise and any other securities issued to any other holders of Shares in connection with any such transaction. 

  
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 “Transfer” (including its correlative meanings,
“Transferor,” “Transferee” and “Transferred”) shall mean, with respect to any security, directly or indirectly, to sell, contract to sell, give, assign, hypothecate, pledge, encumber, grant a
security interest in, offer, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of any economic, voting or other rights in or to
such security. When used as a noun, “Transfer” shall have such correlative meaning as the context may require. 

“Valid Business Reason” has the meaning set forth in Section 2.7(b). 

“WKSI” means a well-known seasoned issuer, as defined in the SEC’s Rule 405. 

Section 1.2 Other Definitional Provisions; Interpretation. 

(a) The words “hereof,” “herein,” and “hereunder” and words of similar import when used in this Agreement refer
to this Agreement as a whole and not to any particular provision of this Agreement, and references in this Agreement to a designated “Article” or “Section” refer to an Article or Section of this Agreement unless otherwise
specified. 
 (b) The headings in this Agreement are included for convenience of reference only and do not limit or otherwise affect the
meaning or interpretation of this Agreement. 
 (c) The meanings given to terms defined herein are equally applicable to both the singular
and plural forms of such terms. 
 ARTICLE II 

REGISTRATION RIGHTS 

Section 2.1 Right to Demand a Non-Shelf Registered Offering. Upon the demand of any
Principal Stockholder, the Registrant will, in each case, subject to Section 2.12, facilitate in the manner described in this Agreement a non-shelf registered offering of the
Registrable Securities requested by such Principal Stockholder to be included in such offering. Any demanded non-shelf registered offering may, at the Registrant’s option, include Common Stock of the
Registrant to be sold by the Registrant for its own account and will also include Registrable Securities to be sold by Holders that exercise their related piggyback rights in accordance with this Agreement. Promptly upon receiving any demand (but in
no event, more than 90 days after receipt of a demand for such registration), the Registrant shall use its reasonable best efforts to file a registration statement relating to such demand. The Registrant shall use its reasonable best efforts to
cause such registration to promptly be declared effective under (x) the Securities Act and (y) the blue sky laws of such jurisdictions as any participating Holder or any underwriter, if any, reasonably requests. 

  
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 Section 2.2 Right to Piggyback on a
Non-Shelf Registered Offering. In connection with any registered offering of Registrable Securities covered by a non-shelf registration statement (whether pursuant
to the exercise of demand rights by a Principal Stockholder or at the initiative of the Registrant or holders not party to this Agreement), any non-demanding Holder may exercise piggyback rights to have
included in such offering Registrable Securities held by it. The Registrant will facilitate in the manner described in this Agreement any such non-shelf registered offering. 

Section 2.3 Right to Demand and be Included in a Shelf Registration. Upon the demand of a Principal Stockholder, subject to
Section 2.12, when the Registrant is eligible to sell its Common Stock in a secondary offering on a delayed or continuous basis in accordance with Rule 415 of the Securities Act whether on Form S-1, Form S-3 or a successor form, the Registrant will facilitate in the manner described in this Agreement a shelf registration of the Registrable Securities requested by
such Principal Stockholder to be included in such shelf registration. Promptly upon receiving any demand (but in no event more than 45 days in the case of a shelf registration on Form S-1 or 30 days in the
case of a shelf registration on Form S-3 after receipt of a demand for such registration), the Registrant shall use its reasonable best efforts to file a registration statement relating to such demand. The
Registrant, shall use its reasonable best efforts to cause such registration to promptly be declared effective under (x) the Securities Act and (y) the blue sky laws of such jurisdictions as any participating Holder or any underwriter, if
any, reasonably requests. Any shelf registration filed by the Registrant covering Common Stock (whether pursuant to a Principal Stockholder’s demand or the initiative of the Registrant) will cover Registrable Securities held by each of the
Holders as may be specified by the Principal Stockholders, and solely to the extent permitted by this Agreement. If at the time of such request the Registrant is a WKSI, such shelf registration would, at the request of a Principal Stockholder, cover
an unspecified number of Registrable Securities to be sold by the Registrant and the Holders. 
 Section 2.4 Demand and Piggyback
Rights for Shelf Takedowns. Upon the demand of a Principal Stockholder (the “Demand Party”), the Registrant will, in each case, facilitate in the manner described in this Agreement a “takedown” off of an effective
shelf registration statement of the Registrable Securities requested by the Demand Party to be included in such takedown. In connection with the exercise by the Demand Party of a demand right pursuant to this Section 2.4,
the Demand Party shall also deliver the applicable demand request to (i) each Principal Stockholder other than the Demand Party, and, subject to the limitations in Section 2.12, the Demand Party shall permit each other
Principal Stockholder to include all or a portion of its Registrable Securities in the “takedown” if such Principal Stockholder notifies the Demand Party and the Company within one day after delivery of the demand request to such Principal
Stockholder of its election to participate (which election shall specify the number of Registrable Securities intended to be disposed of by such Principal Stockholder) and (ii) where the contemplated plan of distribution includes a customary
“road show” or other substantial marketing effort by the Registrant and the underwriters (a “Marketed Underwritten Shelf Offering”), any Other Holders of Registrable Securities included on the applicable shelf registration
statement and, subject to the limitations in Section 2.12, the Demand Party shall permit each such Other Holder to include all or a portion of its Registrable Securities in the Marketed Underwritten Shelf Offering if such
Other Holder notifies the Demand Party and the Company within one day after delivery of the demand request to such Other Holder of its 

  
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election to participate (which election shall specify the number of Registrable Securities intended to be disposed of by such Other Holder). For the avoidance of doubt, any proposed offer and
sale of Registrable Securities to one or more purchasers or underwriters by means of a block trade, bought deal or direct sale shall not be deemed to be a Marketed Underwritten Shelf Offering. Notwithstanding the foregoing, a Principal Stockholder
may not demand a shelf takedown for an offering that will result in the imposition of a lockup on the Registrant and the Holders unless the Registrable Securities requested to be sold in such takedown have an aggregate market value (based on the
most recent closing price of the Shares at the time of the demand) of at least $50 million. 
 Section 2.5 Right to Reload a
Shelf. Upon the written request of a Principal Stockholder, the Registrant will, in each case, file and seek the effectiveness of a post-effective amendment to an existing shelf in order to register up to the number of Registrable Securities
previously taken down off of such shelf and not yet “reloaded” onto such shelf (or such higher number as may be agreed by such Principal Stockholder). The Holders and the Registrant will consult and coordinate with each other in order to
accomplish such replenishments from time to time in a sensible manner. 
 Section 2.6 Effective Registration. The Registrant
shall, with respect to each demand registration, use its reasonable best efforts to cause the registration statement to remain effective for not less than 180 consecutive days (or such shorter period as shall terminate when all Registrable
Securities covered by such registration statement have been sold or withdrawn), or if (i) such registration is a shelf registration on Form S-1 until such shelf registration is amended or replaced by a
shelf registration on Form S-3 (or such shorter period as shall terminate when all Registrable Securities covered by such registration statement have been sold or withdrawn) or (ii) such registration
statement relates to an underwritten offering, such longer period as, in the opinion of counsel for the underwriter or underwriters, a prospectus is required by law to be delivered in connection with sales of Registrable Securities by an underwriter
or dealer. 
 Section 2.7 Limitations on Demand and Piggyback Rights. 

(a) Any demand for the filing of a registration statement or for a registered offering or takedown will be subject to the constraints of any
applicable lockup arrangements, and such demand must be deferred until such lockup arrangements no longer apply. No Principal Stockholder shall be subject to such lockup arrangements to the extent such Principal Stockholder holds less than 5% of the
then outstanding Common Stock of the Registrant (on a fully exchanged basis assuming all outstanding LLC Units other than those held by the Registrant or its wholly owned subsidiaries were exchanged for Shares). If a demand has been made for a non-shelf registered offering or for an underwritten takedown, no further demands may be made so long as the related offering is still being pursued; provided, that any such offering will not be deemed to be
“pursued” if such offering has not been consummated within 45 days of the date on which the registration statement with respect to such offering was declared effective. Notwithstanding anything in this Agreement to the contrary, the
Holders will not have piggyback or other registration rights with respect to (i) registered primary offerings by the Registrant (A) covered by a Form S-8 registration statement or a successor form
applicable solely to employee benefit-related offers and sales, (B) where the securities are not being sold for cash or (C) where the offering is a bona fide offering of securities other than Common Stock, even if such securities are
convertible into or exchangeable or exercisable for Common Stock that are registered as part of such offering; or (ii) any registration statement filed pursuant to the terms of the PIPE Subscription Agreements. 

  
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 (b) The Registrant may postpone the filing (but not the preparation) of a demanded
registration statement or suspend the effectiveness of any shelf registration statement for a reasonable “blackout period” not in excess of 60 days if the Board of the Registrant reasonably determines in good faith that such registration
or offering could materially interfere with a bona fide business or financing transaction of the Registrant (a “Valid Business Reason”) or is reasonably likely to require premature disclosure of information, the premature disclosure
of which could materially and adversely affect the Registrant. The blackout period will end upon the earlier to occur of, (i) in the case of a Valid Business Reason, a date that is five Business Days after such Valid Business Reason no longer
exists, but in no event, not later than 60 days from the date such deferral commenced, and (ii) in the case of disclosure of non-public information, the earlier to occur of (x) the filing by the
Registrant of its next succeeding Form 10-K or Form 10-Q, or (y) the date upon which such information is otherwise disclosed. Notwithstanding the foregoing, the Registrant shall not be permitted to suspend or withdraw a registration statement
more than once during any twelve (12)-month period or for a period exceeding 60 days on any one occasion. In the case of an event that causes the Registrant to delay the filing of a demanded registration statement or to suspend the use of the
effectiveness of a shelf registration statement, the Registrant shall give a notice to the demanding Holder or the holders of Registrable Securities registered pursuant to such shelf registration statement, as applicable, stating generally the basis
for the notice and that such delay or suspension. Notwithstanding any provision herein to the contrary, if the Registrant provides a notice with respect to the delay in filing a demanded registration statement or the suspension of the effectiveness
of a shelf registration statement, the Registrant agrees that it shall extend the period of time during which any such registration statement shall be maintained effective pursuant to this Agreement by the number of days during which such delay or
suspension was continuing. 
 Section 2.8 Notifications Regarding Registration Statements. In order for a Principal Stockholder
to exercise its right to demand that a registration statement be filed, it must so notify the Registrant in writing indicating the number of Registrable Securities sought to be registered and the proposed plan of distribution. The Registrant will
keep the Holders contemporaneously apprised of any registration or shelf takedown of Registrable Securities, with respect to which a piggyback right provided under this Agreement is available in order that they may have a reasonable opportunity to
exercise their related piggyback rights. Without limiting the Registrant’s obligation as described in the preceding sentence, having a reasonable opportunity requires that the Holders be notified by the Registrant of an anticipated filing of a
registration statement (whether pursuant to a demand made by a Principal Stockholder or at the Registrant’s own initiative or at the initiative of other holders not party to this Agreement) no later than 5:00 pm, New York City time, on the date
that is two Business Days prior to the date on which the registration statement is intended to be filed. Each Principal Stockholder and the Registrant agrees to use its good faith efforts to provide advance notice as soon as reasonably practicable
to the Principal Stockholders of such first Principal Stockholder’s or the Registrant’s intention to file or cause the filing of a registration statement; provided, however, that none of the Principal Stockholders or the Registrant shall
be obligated hereby to provide any such advance notice and, if provided, such advance notice shall not be binding in any respect. 

  
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 (a) Subject to any required public disclosure and applicable legal requirements, the parties
will maintain the confidentiality of these discussions. 
 Section 2.9 Notifications Regarding Registration Piggyback Rights.
Any Holder wishing to exercise its piggyback rights with respect to a non-shelf registration statement must notify the Registrant and the other Holders of the number of Registrable Securities it seeks to have
included in such registration statement. Such notice must be given as soon as practicable, but in no event later than 5:00 pm, New York City time, on the second trading day prior to (i) if applicable, the date on which the preliminary
prospectus intended to be used in connection with pre-effective marketing efforts for the relevant offering is expected to be finalized, and (ii) in any case, the date on which the pricing of the relevant
offering is expected to occur. No such notice is required in connection with a shelf registration statement, as Registrable Securities held by all Holders will be included subject to the limitations described in
Section 2.3. 
 Section 2.10 Notifications Regarding Demanded Underwritten Takedowns. 

(a) In order for a Principal Stockholder to exercise its right to demand an underwritten takedown of Registrable Securities off a shelf
registration statement, it must so notify the Registrant in writing indicating the number of Registrable Securities sought to be registered and the proposed plan of distribution. The Registrant will keep the Holders contemporaneously apprised of all
pertinent aspects of any underwritten shelf takedown with respect to which a piggyback right is provided under this Agreement (and in the case of Other Holders excluding, for clarity, any such shelf takedown that is not a Marketed Underwritten Shelf
Offering) in order that they may have a reasonable opportunity to exercise their related piggyback rights. In the case of a Marketed Underwritten Shelf Offering, without limiting the Registrant’s obligation as described in the preceding
sentence, having a reasonable opportunity requires that the Holders be notified by the Registrant the date that is two Business Days prior to the date on which the preliminary prospectus or prospectus supplement is intended to be used in connection
with such offering. Each Principal Stockholder and the Registrant agrees to use its good faith efforts to provide advance notice as soon as reasonably practicable to the Principal Stockholders of such first Principal Stockholder’s or the
Registrant’s intention to deliver a takedown notice; provided, however, that none of the Principal Stockholders or the Registrant shall be obligated hereby to provide any such advance notice and, if provided, such advance notice shall not be
binding in any respect. 
 (b) Any Holder wishing to exercise its piggyback rights with respect to an Marketed Underwritten Shelf Offering
must notify the Registrant and the other Holders of the number of Registrable Securities it seeks to have included in such takedown. Such notice must be given as soon as practicable, but in no event later than 5:00 pm, New York City time, on
(i) if applicable, the trading day prior to the date on which the preliminary prospectus or prospectus supplement intended to be used in connection with marketing efforts for the relevant offering is expected to be finalized, and (ii) in
all cases, the trading day prior to the date on which the pricing of the relevant takedown occurs. 
 (c) Subject to any required public
disclosure and applicable legal requirements, the parties will maintain appropriate confidentiality of their discussions regarding a prospective underwritten takedown. 

  
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 Section 2.11 Plan of Distribution, Underwriters and Counsel. If a majority of
the Shares proposed to be sold in an underwritten offering through a non-shelf registration statement or through a shelf takedown is being sold by the Registrant for its own account (for clarity, excluding
Shares to be sold by the Registrant for its own account to the extent the proceeds from such sale will be used to purchase LLC Units from Holders), the Registrant will be entitled to determine the plan of distribution and select the managing
underwriters for such offering. Otherwise, Holders holding a majority of the Registrable Securities requested to be included in such offering will be entitled to determine the plan of distribution and select the managing underwriters, and such
majority will also be entitled to select counsel for the selling Holders (which may be the same as counsel for the Registrant). In the case of a shelf registration statement, the plan of distribution will provide as much flexibility as is reasonably
possible, including with respect or resales by transferee Holders. 
 Section 2.12 Cutbacks. If the managing underwriters advise
the Registrant and the selling Holders that, in their reasonable opinion, the number of Shares requested to be included in an underwritten offering exceeds the amount that can be sold in such offering without adversely affecting the distribution of
the Shares being offered, such offering will include only the number of Shares that the underwriters advise can be sold in such offering without such adverse effect. If the Registrant is selling Shares for its own account in such offering (for
clarity, excluding Shares to be sold by the Registrant for its own account to the extent the proceeds from such sale will be used to purchase LLC Units from Holders), and the offering is not being made on account of a demand by a Principal
Stockholder, the Registrant will have first priority and to the extent of any remaining capacity, unless otherwise determined by each Principal Stockholder who requested to sell Registrable Securities in such offering, the selling Holders will be
subject to cutback pro rata based on the number of Registrable Securities initially requested by them to be included in such offering, without distinguishing between Holders based on who made the demand for such offering or who is exercising
piggyback rights. In all other cases, the Holders will have first priority, and unless otherwise determined by each Principal Stockholder who requested to sell Registrable Securities in such offering, the selling Holders will be subject to cutback
pro rata based on the number of Registrable Securities initially requested by them to be included in such offering, without distinguishing between Holders based on who made the demand for such offering or who is exercising piggyback rights. 

Section 2.13 Lockups. In connection with any underwritten offering of Registrable Securities, the Registrant and each Holder will
agree (in the case of Holders, with respect to Registrable Securities respectively held by them) to be bound by the underwriting agreement’s lockup restrictions (which must apply in like manner to all of them) that are agreed to by Holders
holding a majority of Registrable Securities being sold by all Holders. If required by the Principal Stockholders, each Holder in the case of an underwritten public offering shall enter into lockup agreements with the managing underwriter(s) of such
underwritten public offering in such form as agreed to by the Principal Stockholders. The Registrant shall cause its executive officers, directors and managers (as applicable) and shall use reasonable best efforts to cause other holders of Shares
who beneficially own (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the date of this Agreement) 5% or more of the then outstanding
Common Stock of the Registrant (on a fully exchanged basis assuming all outstanding LLC Units other than those held by the Registrant or its wholly owned subsidiaries were exchanged for Shares) and holders of any of the Shares participating in such
offering, to 

  
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enter into lockup agreements that contain restrictions that are no less restrictive than the restrictions contained in the lockup agreements executed by Holders. Notwithstanding the foregoing,
(i) Holders shall not be subject to such lockup arrangements unless such Holders had the right to participate in the offering and (ii) the Blackstone Entities and the BL Entities shall not be subject to such lockup arrangements so long as
they respectively hold less than 5% of the then outstanding Common Stock of the Registrant (on a fully exchanged basis assuming all outstanding LLC Units other than those held by the Registrant or its wholly owned subsidiaries were exchanged for
Shares). 
 Section 2.14 Withdrawals. Even if shares held by a Holder have been part of a registered underwritten offering, such
Holder may, no later than the time at which the public offering price and underwriters’ discount are determined with the managing underwriter, decline to sell all or any portion of the shares being offered for its account. 

Section 2.15 Expenses. All Registration Expenses incurred in connection with any registration statement or registered offering
covering Registrable Securities held by Holders will be borne by the Registrant. However, underwriters’, brokers’ and dealers’ discounts and commissions applicable to Shares sold for the account of a Holder will be borne by such
Holder. 
 Section 2.16 Facilitating Registrations and Offerings. 

(a) If the Registrant becomes obligated under this Agreement to facilitate a registration and offering of Registrable Securities on behalf of
Holders, the Registrant will do so with the same degree of care and dispatch as would reasonably be expected in the case of a registration and offering by the Registrant of Shares for its own account. Without limiting this general obligation, the
Registrant will fulfill its specific obligations as described in this Section 2.16. 
 (b) In connection with each
registration statement that is demanded by a Principal Stockholder or as to which piggyback rights otherwise apply, the Registrant will: 

(i) prepare and file all required filings with the SEC and FINRA, including preparing and filing with the SEC a registration
statement (including all required exhibits and financial statements) covering the applicable Shares, file amendments thereto as warranted, seek the effectiveness thereof, and file with the SEC prospectuses and prospectus supplements as may be
required, all in consultation with the Holders and as necessary, (a) to comply with the provisions of the applicable securities laws, (b) permit the offer and sale of the such Shares in accordance with the applicable plan of distribution
and (c) to keep such registration effective for the period of time required by this Agreement; 
 (ii) within a
reasonable time prior to the filing of any registration statement, any prospectus, any amendment to a registration statement, amendment or supplement to a prospectus or any free writing prospectus, provide copies of such documents to the selling
Holders and to the underwriter or underwriters of an underwritten offering, if applicable, and to their respective counsel; make such reasonable changes in any such documents prior to or after the filing thereof as the counsel to the Holders or the
underwriter or the underwriters may request; and make such of the representatives of the Registrant as shall be reasonably requested by the selling Holders or any underwriter available for discussion of such documents; 

  
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 (iii) within a reasonable time prior to the filing of any document which is
to be incorporated by reference into a registration statement or a prospectus, provide copies of such document to counsel for the Holders and underwriters; make such reasonable changes in such document prior to or after the filing thereof as counsel
for such Holders or such underwriter shall request; and make such of the representatives of the Registrant as shall be reasonably requested by such counsel available for discussion of such document; 

(iv) cause each registration statement and the related prospectus and any amendment or supplement thereto, as of the effective
date of such registration statement, amendment or supplement and during the distribution of the registered Shares (x) to comply in all material respects with the requirements of the Securities Act and the rules and regulations of the SEC and
(y) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; 

(v) notify each Holder and its respective counsel promptly, and, if requested by such Holder, confirm such advice in writing,
(A) when any registration statement, any prospectus, any amendment to a registration statement, amendment or supplement to a prospectus or any free writing prospectus has been filed, (B) when a registration statement has become effective
and when any post-effective amendments and supplements thereto become effective if such registration statement or post-effective amendment is not automatically effective upon filing pursuant to Rule 462 of the Securities Act, (C) of any comment
letter or request by the SEC or any other federal or state governmental authority for amendments or supplements to a registration statement or related prospectus or for additional information, (D) of the issuance by the SEC or any state
securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of a registration statement or the initiation of any proceedings for that purpose, (E) if, between the effective date of a
registration statement and the closing of any sale of securities covered thereby pursuant to any agreement to which the Registrant is a party, the representations and warranties of the Registrant contained in such agreement cease to be true and
correct in all material respects or if the Registrant receives any notification with respect to the suspension of the qualification of the Shares for sale in any jurisdiction or the initiation of any proceeding for such purpose, and (F) of the
happening of any event during the period a registration statement is effective as a result of which such registration statement or the 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 not misleading; 

  
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 (vi) promptly notify the participating Holders and the managing underwriter
or underwriters, if any, when the Registrant becomes aware of the happening of any event as a result of which the applicable registration statement or the prospectus included in such registration statement (as then in effect) contains any untrue
statement of a material fact or omits to state a material fact necessary to make the statements therein (in the case of such prospectus and any preliminary prospectus, in light of the circumstances under which they were made) not misleading, when
any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration statement, or, if for any reason it shall be necessary during such time period to amend or supplement such registration
statement or prospectus in order to comply with the Securities Act and, in either case as promptly as reasonably practicable thereafter, prepare and file with the SEC, and furnish without charge to the Holders and the managing underwriter or
underwriters, if any, an amendment or supplement to such registration statement or prospectus which shall correct such misstatement or omission or effect such compliance; 

(vii) to the extent the Registrant is eligible under the relevant provisions of Rule 430B under the Securities Act, if the
Registrant files any shelf registration statement, the Registrant shall include in such shelf registration statement such disclosures as may be required by Rule 430B under the Securities Act (referring to the unnamed selling security holders in a
generic manner by identifying the initial offering of the securities to the Holders) in order to ensure that the Holders may be added to such shelf registration statement at a later time through the filing of a prospectus supplement rather than a
post-effective amendment; 
 (viii) promptly incorporate in a prospectus supplement, Issuer Free Writing prospectus or
post-effective amendment such information as the managing underwriter or underwriters and the participating Holders agree should be included therein relating to the plan of distribution with respect to such Registrable Securities; and make all
required filings of such Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such prospectus supplement, Issuer Free Writing
Prospectus or post-effective amendment; 
 (ix) to use reasonable best efforts to ensure that any Issuer Free Writing
Prospectus utilized in connection with any registration of the Shares complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the
Securities Act to the extent required thereby and, when taken together with the related prospectus, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading 
 (x) furnish counsel for each underwriter, if any, and for the
Holders copies of any correspondence with the SEC or any state securities authority relating to the registration statement or prospectus; 

  
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 (xi) otherwise use all reasonable best efforts to comply with all applicable
rules and regulations of the SEC, including making available to its security holders an earnings statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any
similar provision then in force); 
 (xii) use all reasonable best efforts to obtain the withdrawal of any order suspending
the effectiveness of a registration statement at the earliest possible time; 
 (xiii) not later than the effective date of
the applicable registration statement, provide a CUSIP number for all Registrable Securities and if applicable, provide the applicable transfer agent with printed certificates for the Registrable Securities which are in a form eligible for deposit
with The Depository Trust Company; 
 (xiv) take no direct or indirect action prohibited by Regulation M under the Exchange
Act; 
 (xv) provide and cause to be maintained a transfer agent and registrar for all Shares covered by a registration
statement from and after a date not later than the effective date of such registration statement; and 
 (xvi) take all such
other commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition of such Registrable Securities in accordance with the terms of this Agreement. 

(c) In connection with any non-shelf registered offering or shelf takedown that is demanded by a
Principal Stockholder or as to which piggyback rights otherwise apply, the Registrant will: 
 (i) cooperate with the selling
Holders and the sole underwriter or managing underwriter of an underwritten offering, if any, to facilitate the timely preparation and delivery of certificates representing the Shares to be sold and not bearing any restrictive legends; and enable
such Shares to be in such denominations (consistent with the provisions of the governing documents thereof) and registered in such names as the selling Holders or the sole underwriter or managing underwriter of an underwritten offering of Shares, if
any, may reasonably request at least two Business Days prior to any sale of such Shares; 
 (ii) furnish to each Holder and
to each underwriter, if any, participating in the relevant offering, without charge, as many copies of the applicable prospectus, including each preliminary prospectus, and any amendment or supplement thereto and such other documents as such Holder
or underwriter may reasonably request in order to facilitate the public sale or other disposition of the Shares; the Registrant hereby consents to the use of the prospectus, including each preliminary prospectus, by each such Holder and underwriter
in connection with the offering and sale of the Shares covered by the prospectus or the preliminary prospectus; 

  
 14 

 (iii) use all reasonable best efforts to register or qualify the Shares
being offered and sold, no later than the time the applicable registration statement becomes effective, under all applicable state securities or “blue sky” laws of such jurisdictions as each underwriter, if any, or any Holder holding
Registrable Securities covered by a registration statement, shall reasonably request; use all reasonable best efforts to keep each such registration or qualification effective during the period such registration statement is required to be kept
effective; and do any and all other acts and things which may be reasonably necessary or advisable to enable each such underwriter, if any, and each such Holder to consummate the disposition in each such jurisdiction of such Registrable Securities
owned by such Holder; provided that the Registrant shall not be obligated to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to consent to be subject to general service of process
(other than service of process in connection with such registration or qualification or any sale of Shares in connection therewith) in any such jurisdiction; 

(iv) use all reasonable best efforts to cause the Shares being offered and sold, no later than the date on which the pricing of
the relevant offering is expected to occur, to be registered with or approved by such other governmental agencies or authorities within the United States, except as may be required solely as a consequence of the nature of the business of any Holder,
in which case the Registrant will cooperate in all reasonable respects with the filing of the applicable registration statement and the granting of such approvals, as may be necessary to enable any Holder or the underwriter, if any, to consummate
the disposition of such Shares; 
 (v) cause all Shares being sold to be qualified for inclusion in or listed on the New York
Stock Exchange, the Nasdaq Stock Market or any other securities exchange on which Shares issued by the Registrant are then so qualified or listed and on each inter-dealer quotation system on which any of the Registrant’s securities are then
quoted if so requested by the Holders, or if so requested by the underwriter or underwriters of an underwritten offering of Shares, if any; 

(vi) cooperate and assist in any filings required to be made with FINRA and in the performance of any due diligence
investigation by any underwriter in an underwritten offering; 
 (vii) use all reasonable best efforts to facilitate the
distribution and sale of any Shares to be offered pursuant to this Agreement, including without limitation by making road show presentations, holding meetings with and making calls to potential investors and taking such other actions as shall be
requested by the Holders or the lead managing underwriter of an underwritten offering; and 
 (viii) enter into customary
agreements (including, in the case of an underwritten offering, underwriting agreements in customary form, and including provisions with respect to indemnification and contribution in customary form and consistent with the provisions relating to
indemnification and contribution contained herein) and take all other customary and appropriate actions in order to expedite or facilitate the disposition of such Shares and in connection therewith: 

(A) make such representations and warranties to the selling Holders and the underwriters, if any, in form, substance and scope
as are customarily made by issuers to underwriters in similar underwritten offerings; 

  
 15 

 (B) obtain opinions of counsel to the Registrant and updates thereof (which
counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the lead managing underwriter, if any) addressed to each selling Holder and the underwriters, if any, covering the matters customarily covered in opinions
requested in sales of securities or underwritten offerings and such other matters as may be reasonably requested by such Holders and underwriters; 

(C) obtain (a) “comfort” letters and updates thereof from the Registrant’s independent certified public
accountants addressed to the selling Holders, if permissible, and the underwriters, if any, which letters shall be customary in form and shall cover matters of the type customarily covered in “comfort” letters to underwriters in connection
with primary underwritten offerings and (b) the required consents from the Registrant’s independent certified public accountants, and if applicable, independent auditors to include the accountant’s or auditors’ report, as
applicable, relating to the specified financial statements in the registration statement and to be named as an expert in the registration statement; and 

(D) to the extent requested and customary for the relevant transaction, enter into a securities sales agreement with the
Holders providing for, among other things, the appointment of such representative as agent for the selling Holders for the purpose of soliciting purchases of Shares, which agreement shall be customary in form, substance and scope and shall contain
customary representations, warranties and covenants. 
 The above shall be done at such times as customarily occur in similar registered offerings or shelf
takedowns. 
 (d) In connection with each registration and offering of Shares to be sold by Holders, the Registrant will, in accordance with
customary practice, make available for inspection by representatives of the Holders and underwriters and any counsel or accountant retained by such Holder or underwriters all relevant financial and other records, pertinent corporate documents and
properties of the Registrant and cause appropriate officers, managers, employees, outside counsel and accountants of the Registrant to supply all information reasonably requested by any such representative, underwriter, counsel or accountant in
connection with their due diligence exercise and to otherwise facilitate and cooperate with the preparation of registration statement and prospectuses and any amendments or supplements thereto (including participating in meetings, drafting sessions,
due diligence sessions and rating agency presentations). 
 (e) Each Holder that holds Shares covered by any registration statement will
furnish to the Registrant such information regarding itself as is required to be included in the registration statement or prospectus by the requirements of the Securities Act, the ownership of Shares by such Holder and the proposed distribution by
such Holder of such Shares as the Registrant may from time to time reasonably request in writing. 

  
 16 

 Section 2.17 In-Kind Distributions. If
any Holder seeks to effectuate an in-kind distribution of all or part of its Registrable Securities to its direct or indirect equityholders, the Registrant will, subject to applicable lockups, work with such
Holder and the Registrant’s transfer agent to facilitate such in-kind distribution in the manner reasonably requested by such Holder, as well as any resales by such transferees under a shelf registration
statement covering such distributed Shares. 
 Section 2.18 Additional Undertaking. The Registrant shall include, in any
Registration Statement (as such term is defined in the PIPE Subscription Agreements), any (a) shares of Common Stock and (b) any shares of Common Stock underlying warrants, in either case which are distributed (or distributable) to Lance
West or any of his Affiliates by Replay Sponsor, LLC on account of the ownership interest in Replay Sponsor, LLC by any such Person (and any other securities issued or issuable as a distribution with respect to, or in exchange for or in replacement
of any such shares, and any other securities issued or transferred in exchange for or upon conversion of any of the foregoing shares as a result of a merger, consolidation, reorganization or otherwise and any other securities issued to any other
holders of shares of Common Stock in connection with any such transaction), and the Registrant agrees that each such Person shall otherwise be entitled to all of the rights and benefits applicable to a “Subscriber” under Section 4 of
the PIPE Subscription Agreements as if such Person were a Subscriber thereunder and the shares of Common Stock (and any other securities described in this sentence) were “Shares” thereunder; provided that the Registrant’s obligation
to include such securities in such Registration Statement shall be subject to the same conditions applicable to a Subscriber under Section 4.1 of the PIPE Subscription Agreement. 

ARTICLE III 

INDEMNIFICATION 

Section 3.1 Indemnification by the Registrant. In the event of any registration of any Registrable Securities of the
Registrant under the Securities Act pursuant to Article II, the Registrant hereby indemnifies and agrees to hold harmless, to the fullest extent permitted by Law, each Holder who sells Registrable Securities covered by such registration statement,
each Affiliate of such Holder and their respective members, directors, officers, shareholders, employees, advisors, agents and general and limited partners (and the directors, officers, employees, Affiliates and controlling Persons of any of the
foregoing), each other Person who participates as an underwriter in the offering or sale of such Registrable Securities and each other Person, if any, who controls such Holder or any such underwriter within the meaning of the Securities Act (each,
an “Indemnified Party” and collectively, the “Indemnified Parties”), against any and all losses, penalties, judgments, suits, costs, claims, damages or liabilities, joint or several, and reasonable and documented
expenses to which such Indemnified Party may become subject under the Securities Act, common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions or proceedings in respect thereof, whether or not such Indemnified
Party is a party thereto) arise out of or are based upon: (a) any untrue statement or alleged untrue statement of any material fact contained in any registration statement under which such Registrable Securities were registered under the
Securities Act, any preliminary, final or summary prospectus contained therein, or any amendment or supplement thereto, or any document incorporated by reference therein, or any other such disclosure document (including reports and other documents
filed under the Exchange Act and any document incorporated by reference therein) or related document or report; (b) any omission or alleged omission to state 

  
 17 

 
therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in the case of a prospectus, in the light of the circumstances when they were
made; or (c) any violation or alleged violation by the Registrant or any of its Subsidiaries of any federal, state, foreign or common law rule or regulation applicable to the Registrant or any of its Subsidiaries and relating to action or
inaction in connection with any such registration, disclosure document or related document or report, and the Registrant will reimburse such Indemnified Party for any legal or other expenses reasonably incurred by it in connection with investigating
or defending any such loss, penalties, judgments, suits, costs, claim, liability, action or proceeding; provided that the Registrant will not be liable to any Indemnified Party in any such case to the extent that any such loss, penalties, judgments,
suits, costs, claim, damage, liability (or action or proceeding in respect thereof) or expense arises out of or is based upon any untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, in
any such preliminary, final or summary prospectus, or any amendment or supplement thereto in reliance upon and in conformity with written information with respect to such Indemnified Party furnished to the Registrant by such Indemnified Party
expressly for use in the preparation thereof. Such indemnity will remain in full force and effect regardless of any investigation made by or on behalf of such Holder or any Indemnified Party and will survive the Transfer of such Registrable
Securities by such Holder or any termination of this Agreement. 
 Section 3.2 Indemnification by the Holders. The Registrant
may require, as a condition to including any Registrable Securities in any registration statement filed in accordance with Article II, that the Registrant shall have received an undertaking reasonably satisfactory to it from the Holder of such
Registrable Securities or any prospective underwriter to indemnify and hold harmless (in the same manner and to the same extent as set forth in Section 3.1) the Registrant, all other Holders or any prospective underwriter,
as the case may be, and any of their respective Affiliates, directors, officers and controlling Persons, with respect to any untrue statement in or omission from such registration statement, any preliminary, final or summary prospectus contained
therein, or any amendment or supplement, if such untrue statement or omission was made in reliance upon and in conformity with written information with respect to such Holder or underwriter furnished to the Registrant by such Holder or underwriter
expressly for use in the preparation of such registration statement, preliminary, final or summary prospectus or amendment or supplement, or a document incorporated by reference into any of the foregoing. Such indemnity will remain in full force and
effect regardless of any investigation made by or on behalf of the Registrant or any of the Holders, or any of their respective Affiliates, directors, officers or controlling Persons and will survive the Transfer of such Registrable Securities by
such Holder. In no event shall the liability of any selling Holder of Registrable Securities hereunder be greater in amount than the dollar amount of the proceeds actually received by such Holder upon the sale of the Registrable Securities giving
rise to such indemnification obligation. 
 Section 3.3 Notices of Claims, Etc. Promptly after receipt by an Indemnified Party
hereunder of written notice of the commencement of any action or proceeding with respect to which a claim for indemnification may be made pursuant to this Article III, such Indemnified Party will, if a claim in respect thereof is to be made against
an indemnifying party, give written notice to the latter of the commencement of such action; provided that the failure of the Indemnified Party to give notice as provided herein will not relieve the indemnifying party of its obligations under
Section 3.1 or Section 3.2, except to the extent that the indemnifying party is 

  
 18 

 
actually prejudiced by such failure to give notice. In case any such action is brought against an Indemnified Party, unless in such Indemnified Party’s reasonable judgment a conflict of
interest between such indemnified and indemnifying parties may exist in respect of such claim, the indemnifying party will be entitled to participate in and to assume the defense thereof, jointly with any other indemnifying party similarly notified
to the extent that it may wish, with counsel selected by the Holders of at least a majority of the Registrable Securities included in the relevant registration, and after notice from the indemnifying party to such Indemnified Party of its election
so to assume the defense thereof, the indemnifying party will not be liable to such Indemnified Party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof other than reasonable costs of
investigation. If, in such Indemnified Party’s reasonable judgment, having common counsel would result in a conflict of interest between the interests of such indemnified and indemnifying parties, then such Indemnified Party may employ separate
counsel reasonably acceptable to the indemnifying party to represent or defend such Indemnified Party in such action, it being understood, however, that the indemnifying party will not be liable for the reasonable fees and expenses of more than one
separate firm of attorneys at any time for all such Indemnified Parties (and not more than one separate firm of local counsel at any time for all such Indemnified Parties) in such action. No indemnifying party will consent to entry of any judgment
or enter into any settlement which 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 of such claim or litigation. 

Section 3.4 Contribution. If the indemnification provided for hereunder from the indemnifying party is unavailable to an
Indemnified Party hereunder in respect of any losses, penalties, judgments, suits, costs, claims, damages, liabilities or expenses referred to herein for reasons other than those described in the proviso in the first sentence of
Section 3.1, then the indemnifying party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such losses, claims, damages, liabilities or
expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and Indemnified Parties in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any
other relevant equitable considerations. The relative fault of such indemnifying party and Indemnified Parties 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, has been made by, or relates to information supplied by, such indemnifying party or Indemnified Parties, and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such action. The amount paid or payable by a party under this Section 3.4 as a result of the losses, claims, damages, liabilities and expenses referred to above shall be
deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with any investigation or proceeding. In no event shall the liability of any selling Holder of Registrable Securities hereunder be greater in
amount than the dollar amount of the proceeds actually received by such Holder upon the sale of the Registrable Securities giving rise to such contribution obligation. 

The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 3.4 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 the immediately preceding paragraph. No Person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 

  
 19 

 Section 3.5 Non-Exclusivity. The
obligations of the parties under this Article IV will be in addition to any liability which any party may otherwise have to any other party. 

ARTICLE IV 
 OTHER

 Section 4.1 Notices. Any notice, request, instruction or other document to be given hereunder by any party hereto to
another party hereto shall be in writing and shall be deemed given (a) when delivered personally, (b) five (5) Business Days after being sent by certified or registered mail, postage prepaid, return receipt requested, (c) one (1)
Business Day after being sent by Federal Express or other nationally recognized overnight courier, or (d) if transmitted by email, in each case, to parties at the following addresses (or at such other address for a party as shall be specified
by prior written notice from such party): 
  

			
	        	 	if to the Registrant:
		
		 	Finance of America Companies Inc.
		 	909 Lake Carolyn Parkway, Suite 1550
		 	Irving, Texas 75039
		 	Attention:  Anthony W. Villani, Chief Legal Officer
		 	Email:        [email address]
		
		 	if to the Blackstone Investors:
		
		 	The Blackstone Group Inc.
		 	345 Park Avenue
		 	New York, New York 10154
		 	Attention:  Menes Chee
		 	Email:        [email address]
		
		 	if to the BL Investors:
		
		 	c/o Libman Family Holdings, LLC
		 	[address]
		 	Attention:  Brian Libman
		 	Email:        [email address]

  
 20 

 Section 4.2 Transfer Rights. 

(a) Each Principal Stockholder may transfer, in its sole discretion, all or any portion of its rights under this Agreement to any Transferee of
its Registrable Securities, whereupon such Transferees shall become a party to this Agreement. Any such Transfer of registration rights will be effective upon receipt by the Registrant of (i) written notice from such Principal Stockholder
stating the name and address of any Transferee and identifying the number of Registrable Securities with respect to which rights under this Agreement are being transferred and the nature of the rights so transferred, and (ii) a Joinder
Agreement from such Person to be bound by the terms of this Agreement as a “Principal Stockholder” or “Other Holder,” as applicable. The Registrant and the transferring Principal Stockholder will notify the other Principal
Stockholders as to who the Transferees are and the nature of the rights so transferred. 
 (b) In the event the Registrant engages in a
merger or consolidation in which the Registrable Securities are converted into securities of another Registrant, appropriate arrangements will be made so that the registration rights provided under this Agreement continue to be provided to Holders
by the issuer of such securities. To the extent such new issuer, or any other company acquired by the Registrant in a merger or consolidation, was bound by registration rights obligations that would conflict with the provisions of this Agreement,
the Registrant will, unless Holders then holding a majority of the Registrable Securities otherwise agree, use its reasonable best efforts to modify any such “inherited” registration rights obligations so as not to interfere in any
material respects with the rights provided under this Agreement. 
 (c) In the case of an in-kind
distribution of Shares pursuant to Section 2.17 of this Agreement with an ability to resale Shares off of a shelf registration statement, such in-kind transferees will, as transferee
Holders, be entitled to the rights under this Agreement applicable to the Shares so transferred. In that regard, however, in-kind transferees will not be given demand or piggyback rights; rather their means of
registered resale will be limited to sales off a shelf with respect to which no special actions are required by the Registrant or the other Holders, and as to which no lockup will arise. 

(d) In the event that the Registrant effects the separation of any portion of its business into one or more entities (each, a
“NewCo”), whether existing or newly formed, including without limitation by way of spin-off, split-off,
carve-out, demerger, recapitalization, reorganization or similar transaction, and any Holder will receive equity interests in any such NewCo as part of such separation, the Registrant shall cause any such
NewCo to enter into a registration rights agreement with each such Holder that provides each such Holder with registration rights vis-à-vis such NewCo that are
substantially identical to those set forth in this Agreement.. 
 Section 4.3 Current Public Information. At all times after the
Registrant has filed a registration statement with the SEC pursuant to the requirements of either the Securities Act or the Exchange Act, the Registrant shall file all reports required to be filed by it under the Securities Act and the Exchange Act
and shall take such further action as any Holder or Holders of Registrable Securities may reasonably request, all to the extent required to enable such Holders to sell Registrable Securities pursuant to Rule 144. Upon request, the Registrant shall
deliver to any holder of restricted securities under Rule 144 a written statement as to whether it has complied with such requirements. 

  
 21 

 Section 4.4 Limited Liability. Notwithstanding any other provision of this
Agreement, neither the members, stockholders, general partners, limited partners, advisory directors or managing directors, or any directors or officers of any members, stockholders, general or limited partners, advisory directors or managing
directors, nor any future members, stockholders, general partners, limited partners, advisory directors, or managing directors, if any, of any Holder shall have any personal liability for performance of any obligation of such Holder under this
Agreement in excess of the respective capital contributions of such members, stockholders, general partners, limited partners, advisory directors or managing directors to such Holder. 

Section 4.5 No Inconsistent Agreements. The Registrant will not, on or after the date of this Agreement, enter into any agreement
with respect to its securities that is inconsistent with the rights granted under or otherwise conflicts with the provisions of this Agreement. 

Section 4.6 Amendments; Waiver. This Agreement may be amended, supplemented or otherwise modified, or any provision waived, only
by a written instrument executed by the Registrant and the Holders holding a majority of the Registrable Securities subject to this Agreement; provided that: (i) any amendment or waiver that would have an adverse effect on any Principal
Stockholder shall require the written consent of such Principal Stockholder; and (ii) any amendment or waiver which adversely affects the economic interests of any Holder hereunder, or increase the obligations of any Holder, disproportionately
to other Holders shall require the written consent of such Holder. No waiver by any party of any of the provisions hereof will be effective unless explicitly set forth in writing and executed by the party so waiving. Except as provided in the
preceding sentence, no action taken pursuant to this Agreement, including without limitation, any investigation by or on behalf of any party, will be deemed to constitute a waiver by the party taking such action of compliance with any covenants or
agreements contained herein. The waiver by any party hereto of a breach of any provision of this Agreement will not operate or be construed as a waiver of any subsequent breach. 

Section 4.7 Third Parties. This Agreement does not create any rights, claims or benefits inuring to any Person that is not a party
hereto nor create or establish any third party beneficiary hereto; provided, however, that the parties hereto acknowledge and agree that Lance West is an intended third-party beneficiary of the provisions of Section 2.18 of
this Agreement. 
 Section 4.8 Governing Law. This Agreement shall be governed by, and construed and enforced in accordance
with, the laws of the State of New York without regard to conflicts of laws principles. 
 Section 4.9 CONSENT TO JURISDICTION.
EACH OF THE PARTIES HERETO CONSENTS TO THE EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED WITHIN THE STATE OF NEW YORK AND IRREVOCABLY AGREES THAT ALL ACTIONS OR PROCEEDINGS RELATING TO THIS AGREEMENT SHALL BE LITIGATED IN SUCH COURTS.
EACH OF THE PARTIES HERETO ACCEPTS FOR ITSELF AND IN CONNECTION WITH ITS RESPECTIVE PROPERTIES, GENERALLY AND UNCONDITIONALLY, THE EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS AND WAIVES ANY DEFENSE OF FORUM NON CONVENIENS, AND IRREVOCABLY AGREES
TO BE BOUND BY ANY FINAL AND NONAPPEALABLE JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS AGREEMENT. EACH 

  
 22 

 
OF THE PARTIES HERETO FURTHER IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF VIA
OVERNIGHT COURIER, TO SUCH PARTY AT THE ADDRESS SPECIFIED IN THIS AGREEMENT, SUCH SERVICE TO BECOME EFFECTIVE FOURTEEN CALENDAR DAYS AFTER SUCH MAILING. NOTHING HEREIN SHALL IN ANY WAY BE DEEMED TO LIMIT THE ABILITY OF EITHER PARTY HERETO TO SERVE
ANY SUCH LEGAL PROCESS, SUMMONS, NOTICES AND DOCUMENTS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW OR TO OBTAIN JURISDICTION OVER OR TO BRING ACTIONS, SUITS OR PROCEEDINGS AGAINST THE OTHER PARTY HERETO IN SUCH OTHER JURISDICTIONS, AND IN SUCH
MANNER, AS MAY BE PERMITTED BY ANY APPLICABLE LAW. 
 Section 4.10 MUTUAL WAIVER OF JURY TRIAL. THE PARTIES HERETO WAIVE ALL
RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO ENFORCE OR DEFEND ANY RIGHTS OR REMEDIES UNDER THIS AGREEMENT. 

Section 4.11 Specific Performance. Each of the parties hereto acknowledges and agrees that in the event of any breach of this
Agreement by any of them, the non-breaching party would be irreparably harmed and could not be made whole by monetary damages. Each party accordingly agrees to waive the defense in any action for specific
performance that a remedy at law would be adequate and that the parties, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to compel specific performance of this Agreement. 

Section 4.12 Entire Agreement. This Agreement, the LLC Agreement and any agreement executed on or around the date hereof set forth
the entire understanding of the parties hereto with respect to the subject matter hereof. There are no agreements, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth
herein, the LLC Agreement and any agreement executed on or around the date hereof. This Agreement, the LLC Agreement and any agreement executed on or around the date hereof supersede all other prior agreements and understandings between the parties
with respect to such subject matter. 
 Section 4.13 Severability. If one or more of the provisions, paragraphs, words, clauses,
phrases or sentences contained herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision, paragraph, word,
clause, phrase or sentence in every other respect and of the remaining provisions, paragraphs, words, clauses, phrases or sentences hereof shall not be in any way impaired, it being intended that all rights, powers and privileges of the parties
hereto shall be enforceable to the fullest extent permitted by Law. 
 Section 4.14 Counterparts. This Agreement may be executed
in any number of counterparts, each of which will be deemed to be an original and all of which together will be deemed to be one and the same instrument. 

  
 23 

 Section 4.15 Effectiveness. This Agreement shall become effective, as to any
Holder, as of the date signed by the Registrant and countersigned by such Holder. 
 Section 4.16 Registrant. The Registrant
shall take all actions required to cause the Registrant and its successors or assigns to (a) become bound by and subject to the terms of this Agreement and (b) comply with all its obligations hereunder. 

[Remainder of Page Intentionally Left Blank] 

  
 24 

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

			
	 REGISTRANT:

	
	 FINANCE OF AMERICA COMPANIES INC.

		
	 By:
	 	 /s/ Patricia L. Cook

	 Name:
	 	 Patricia L. Cook

	 Title:
	 	 Chief Executive Officer

  
 [Signature Page to
Registration Rights Agreement] 

			
	 BLACKSTONE INVESTORS:
  

BLACKSTONE TACTICAL OPPORTUNITIES FUND (URBAN FEEDER) – NQ L.P.
  

By: BLACKSTONE TACTICAL OPPORTUNITIES ASSOCIATES – NQ L.L.C., its general partner

 
 By: BTOA – NQ L.L.C., its sole member 

		
	By:	 	 /s/ Christopher J. James

		 	 Name: Christopher J. James
 Title: Authorized
Person

	
	BLACKSTONE TACTICAL OPPORTUNITIES ASSOCIATES – NQ L.L.C.
	
	By: BTOA – NQ L.L.C., its sole member
		
	By:	 	 /s/ Christopher J. James

		 	 Name: Christopher J. James
 Title: Authorized
Person

	
	BTO URBAN HOLDINGS L.L.C.
		
	By:	 	 /s/ Menes Chee

		 	 Name: Menes Chee
 Title: Authorized
Person

  
 [Signature Page to
Registration Rights Agreement] 

			
	 BTO URBAN HOLDINGS II L.P.

		
	 By:
	 	Blackstone Tactical Opportunities Associates – NQ L.L.C., its general partner
		
	 By:
	 	 BTOA – NQ L.L.C., its sole member

		
	 By:
	 	 /s/ Christopher J. James

		 	 Name: Christopher J. James

Title: Authorized Person

	
	 BLACKSTONE FAMILY TACTICAL

OPPORTUNITIES INVESTMENT

PARTNERSHIP – NQ – ESC L.P.
  

By: BTO – NQ SIDE-BY-SIDE
GP L.L.C., 
its general partner

		
	 By:
	 	 /s/ Christopher J. James

		 	 Name: Christopher J. James

Title: Authorized Person

  
 [Signature Page to
Registration Rights Agreement] 

			
	 BL INVESTORS:

 
 LIBMAN FAMILY HOLDINGS LLC

		
	 By:
	 	 /s/ Brian L. Libman

		 	 Name: Brian L. Libman

Title: Manager

	
	 THE MORTGAGE OPPORTUNITY GROUP LLC

		
	 By:
	 	 /s/ Brian L. Libman

		 	 Name: Brian L. Libman

Title: Manager

 [Signature Page to Registration Rights Agreement] 

 EXHIBIT A 

REGISTRATION RIGHTS AGREEMENT JOINDER 

The undersigned is executing and delivering this Joinder Agreement pursuant to the Registration Rights Agreement, dated as of April 1, 2021, by and among
Finance of America Companies Inc., a Delaware corporation (the “Company”), and the other parties thereto, as amended and restated, restated, amended, supplemented or otherwise modified from time to time (the “Registration
Rights Agreement”). Capitalized terms used, but not defined, in this Joinder Agreement shall have the meanings ascribed to them in the Registration Rights Agreement. 

By executing and delivering to the Company this Joinder Agreement, the undersigned hereby agrees to become a party to the Registration Rights Agreement, to
succeed to all of the rights and obligations of an “[Other Holder][Principal Stockholder]” and to be fully bound by, and subject to, all of the covenants, terms and conditions of the Registration Rights Agreement as though an original
party thereto. 
 Accordingly, the undersigned has executed and delivered this Joinder Agreement as of the [___] day of [___________], 20[__]. 

 

			
	[NAME]
		
	By:	 	  

	Name:
	Title:

 
			
	
	 Address for notice purposes in accordance with Section 4.1 of the Registration
Rights Agreement:

	
	 
	 
	 Attention: _____________________________

	 Email: ____________________________

  

			
	ACKNOWLEDGED AND AGREED TO
	
	FINANCE OF AMERICA COMPANIES INC.
		
	By:	 	  

	Name:
	Title:

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