SEC Contract Filing

Filing Date: 2021-11-05

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>7
<FILENAME>tm2131979d1_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REGISTRATION RIGHTS AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">THIS REGISTRATION RIGHTS AGREEMENT
(this &ldquo;<B>Agreement</B>&rdquo;), dated as of November 2, 2021, is made and entered into by and among Fortune Rise Acquisition Corporation,
a Delaware corporation (the &ldquo;<B>Company</B>&rdquo;), Fortune Rise Sponsor LLC, a Delaware limited liability company (the &ldquo;<B>Sponsor</B>&rdquo;),
Lei Huang, Yuanmei Ma, Lei Xu, David Xianglin Li, Norman C. Kristoff, Michael Davidov and Christy Szeto (together with the Sponsor, the
&ldquo;<B>Founders</B>&rdquo;), US Tiger Securities, Inc. (&ldquo;<B>US Tiger</B>&rdquo;), and EF Hutton Group, division of Benchmark
Investments, LLC (&ldquo;<B>EF Hutton</B>&rdquo; together with the Sponsor, Founders, US Tiger and any person or entity who hereafter
becomes a party to this Agreement pursuant to Section 5.2 of this Agreement, a &ldquo;<B>Holder</B>&rdquo; and collectively the &ldquo;<B>Holders</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">RECITALS</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company and the
Sponsor entered into a Securities Purchase Agreement (the &ldquo;<B>Founder Shares Purchase Agreement</B>&rdquo;), dated as of February
18, 2021, pursuant to which the Sponsor purchased an aggregate of 2,443,750 shares of the Company&rsquo;s common stock, par value $0.0001
per share, up to 318,750 shares of common stock which will be forfeited to the Company for no consideration depending on the extent to
which the underwriters of the Company&rsquo;s initial public offering exercise their over-allotment option;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company and the
Sponsor entered into an amendment to the Founder Shares Purchase Agreement (the &ldquo;<B>Amendment</B>&rdquo;), dated as of March 1,
2021, pursuant to which the 2,443,750 shares of common stock were forfeited and 2,443,750 shares of Class B common stock, par value $0.0001
per share, (the &ldquo;<B>Class B Common Stock</B>&rdquo;) were issued by the Company to the Sponsor (the &ldquo;<B>Founder Shares</B>&rdquo;),
up to 318,750 shares of Class B Common Stock which will be forfeited to the Company for no consideration depending on the extent to which
the underwriters of the Company&rsquo;s initial public offering exercise their over-allotment option;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, on November 2, 2021,
the Company entered into certain private shares purchase agreements with the Sponsor and, US Tiger and EF Hutton, respectively, pursuant
to which, the Sponsor agreed to purchase an aggregate of 454,500 shares of Class A common stock, par value $0.0001 per share (the &ldquo;<B>Class
A Common Stock</B>&rdquo;), (or up to 505,500 shares of Class A Common Stock pro rata to the extent that the over-allotment option in
connection with the Company&rsquo;s initial public offering is exercised) and each of US Tiger and EF Hutton agreed to purchase $20,000
shares of Class A Common Stock (each, a &ldquo;Private Share&rdquo;, collectively, the &ldquo;Private Shares&rdquo;), at a purchase price
of $10.00 per share in a private placement transaction occurring simultaneously with the closing of the Company&rsquo;s initial public
offering (and the closing of the over-allotment option exercise, if applicable); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, in order to finance
the Company&rsquo;s transaction costs in connection with an intended initial Business Combination (as defined below), the Founders and
their affiliates may loan to the Company funds as the Company may require, of which up to $3,000,000 of such loans may be convertible
into shares of Class A Common Stock (&ldquo;<B>Working Capital Shares</B>&rdquo;) at a price of $10.00 per share; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHERAS, The Working Capital
Shares are identical to the Private Shares; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the