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advisory services to Artspace including but not limited to IT efficiencies, global gallery sales strategy and digital marketing initiatives. Keith Keith Fox CEO Phaidon 65 Bleecker Street. 8th FL New York. NY 10012 phaidon.com From: Magnus Resch [mato: Sent: Tuesday, February 16, 2016 3:20 PM To: Ke
ay, February 16, 2016 3:20 PM To: Keith Fox Cc: Anastasiya Siro; Maximilian Straub Subject: Re: Term Sheet and Loan Agreement It is intended that Phaidon Digital, Artspace and Artace form a strategic partnership in regards to their activities in e-commerce, lead generation and data analysis. Phaidon Digital a
Keith Fox CEO Phaidon 65 Bleecker Street, 8th FL<=13> New York, NY 10012=/u> M /span> < =U> phaidon.com chttps://urldefense.proofpoint.com/v2/url?==htt
ay, February 16, 2016 3:20 PM To: Keith Fox Cc: Anastasiya Siro; Maximilian Straub Subject: Re: Term Sheet and Loan Agreement It is intended that Phaidon Digital, Artspace and Ar=ace form a strategic partnership in regards to their activities in e-comme=ce, lead generation and data analysis. Phaidon Digital a
t, including what you discussed with me and Leon. Would you like me to take the lead on drafting or would you like to take the lead? Thanks. Keith Keith Fox CEO Phaidon 65 Bleecker Street, 8th FL New York, NY 10012 10 EFTA_R1_01390794 EFTA02378630
ay, February 16, 2016 3:20 PM To: Keith Fox Cc: Anastasiya Siro; Maximilian Straub Subject: Re: Term Sheet and Loan Agreement It is intended that Phaidon Digital, Artspace and Artace form a strategic partnership in regards to their activities in e-commerce, lead generation and data analysis. Phaidon Digital a
rtspace Inc. are Artace's preferred partners for these activities and Artace grants them a right of first refusal. On Tue, Feb 16, 2016 at 3:12 PM, Keith Fox > wrote: We have reviewed the documents and are currently getting outside guidance on the language. Our meeting with our lawyers is tomorrow a.m.
ay, February 16, 2016 3:20 PM To: Keith Fox Cc: Anastasiya Siro; Maximilian Straub Subject: Re: Term Sheet and Loan Agreement It is intended that Phaidon Digital, Artspace and Artace form a strategic partnership in regards to their activities in e-commerce, lead generation and data analysis. Phaidon Digital a
Entities connected to both Keith Fox and Phaidon Digital

Keith
PERSONAnastasiya
PERSONMaximilian Straub
PERSON
Artspace
ORGANIZATIONPhaidon
ORGANIZATIONMagnus Resch
PERSONMagnus
PERSONArtspace Inc.
ORGANIZATIONMax Straub
PERSON
McKinsey
ORGANIZATION