SEC Contract Filing

Filing Date: 2022-10-20

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ea167342ex10-1_faraday.htm
<DESCRIPTION>EXCHANGE AGREEMENT, DATED OCTOBER 19, 2022, BY AND AMONG FARADAY FUTURE INTELLIGENT ELECTRIC INC., FF AVENTURAS SPV XI LLC, FF VENTURAS SPV X LLC, FF VENTURES SPV IX LLC AND FF ADVENTURES SPV XVIII LLC
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

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

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EXECUTION COPY</P>

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

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

<P STYLE="font: bold 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 EXCHANGE AGREEMENT (the
&ldquo;<U>Agreement</U>&rdquo;) is dated this 19th day of October, 2022, by and among Faraday Future Intelligent Electric Inc., a Delaware
corporation with offices located at 18455 S. Figueroa Street, Gardena, CA 90248 (the &ldquo;<U>Company</U>&rdquo;), and the investors
signatory hereto (collectively the &ldquo;<U>Holders</U>&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: justify; text-indent: 0.5in">WHEREAS, the Holders beneficially
own and hold the securities of the Company as set forth on <U>Exhibit A</U> hereto (the &ldquo;<U>Original Notes</U>&rdquo;) (capitalized
terms not defined herein shall have the meaning as set forth in the Original Notes);</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, each Holder desires
to exchange (the &ldquo;<U>Exchange</U>&rdquo;) such aggregate principal amount of the Original Notes as set forth opposite such Holder&rsquo;s
name on <B><U>Exhibit A</U></B> attached hereto (the &ldquo;<U>Exchanging Securities</U>&rdquo;) for (x) such aggregate number of shares
(the &ldquo;<U>Exchange Shares</U>&rdquo;) of Common Stock, par value $0.0001 (the &ldquo;<U>Common Stock</U>&rdquo;) as set forth opposite
such Holder&rsquo;s name on <B><U>Exhibit A</U></B> attached hereto, reflecting a price per share of Common Stock of $0.514, and the Company
desires to convey the Exchange Shares in exchange for the Exchanging Securities and, all on the terms and conditions set forth in this
Agreement in reliance on the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended (the &ldquo;<U>Securities
Act</U>&rdquo;); 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, upon the consummation
of the transactions contemplated hereby, the Holders shall no longer own any Exchanging Securities, and the Company shall cancel the certificate(s)
and other physical documents evidencing the ownership of the Exchanging Securities.</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">NOW, THEREFORE, in consideration
of the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the Company and the Holders hereby agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 1. <U>Exchange</U>.
Subject to and upon the terms and conditions set forth in this Agreement, the Holders agrees to surrender to the Company the Exchanging
Securities and, in exchange therefor, the Company shall convey to the Holders the Exchange Shares.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">1.1 <U>Closing</U>.
On the Closing Date (as defined below), the Company will convey and deliver (or cause to be conveyed and delivered) the Exchange Shares
to each Holder by deposit/withdrawal at custodian in accordance with the instructions attached hereto as <B><U>Schedule I</U></B>, which
Exchange Shares shall be issued without restricted legend and shall be freely tradable by such applicable Holder and each Holder will
surrender to the Company the Exchanging Securities for cancellation and duly execute and, if requested by the Company, deliver to the
Company a Rule 144 representation letter in a form reasonably acceptable to the Company (the &ldquo;<U>144 Rep letter</U>&rdquo;). The
closing of the Exchange shall occur as on the date hereof, or as soon thereafter as the parties may mutually agree in writing (the &ldquo;<U>Closing
Date</U>&rdquo;), subject to the provisions of <U>Section 4</U> and <U>Section 5</U> herein.</P>

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