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artner shall deem appropriate. The General Partner is hereby authorized to enter, by itself or on behalf of the Partnership, into an agreement with Valar Ventures LLC, a Delaware limited liability company or another entity beneficially owned by the Managing Members and a Thiel Person (the "Management Company") for
d Partner's obligations pursuant to paragraph 4.2(d). 10. 147765658 v44 EFTA00808294 (b) In the event that either (i) James Fitzgerald or (ii) Andrew McCormack (each, a "Managing Member," and together, the "Managing Members") ceases to be a managing member of the General Partner, or otherwise ceases to par
ENT IS CONFIDENTIAL. The information in this presentation may not be copied, reproduced, or redistributed without the express written permission of Valar Ventures LLC (the "Sponsor"). This presentation is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such d
focused and can move faster than anyone else in the business. EFTA00810258 Founding Partners James Fitzgerald Skadden, Clarium, Thiel Capital Andrew McCormack Yahoo!, PayPal, Clarium, Thiel Capital EFTA00810259 Fund 4 Terms Raising: $100M-$150M Management Fee: 2.5%/year (subject to step-down) Carry:
before the financing dilution). Rough math is 16.3%*0.965*0.885 =3D 13.9%. Does that make sense? Best regards, Reuben Kobulnik Operating =artner Valar Ventures LLC EFTA_R1_01855851 EFTA02633233 On Thu, Feb 28, 2019 at 2:29 PM Richard =ahn < <mailto > wrote: reuben, sorry, but can you describe for me =he d
message: From: =/b>Reuben Kobulnik < Subject: .../b>Re: Stash =inancial Date: =/b>February 28, 2019 at 2:43:04 PM =ST To: =/b>Richard Kahn < Cc: Andrew McCormack < Hi Richard, I'm not totally following all of your =uestions, but Valar has not sold any of the equity it has acquired in =tash. Prior to this la
Entities connected to both Valar Ventures LLC and Andrew McCormack

Prince Andrew
PERSONJames Fitzgerald
PERSON
Peter Thiel
PERSON
Woody Allen
PERSON
New Zealand
LOCATIONVALAR
ORGANIZATION
United Kingdom
LOCATIONFund 3
ORGANIZATIONNo Limited
ORGANIZATIONThiel Capital LLC
ORGANIZATIONVV Global LP
ORGANIZATIONBreather
PERSONClarium
ORGANIZATION
Max Levchin
PERSONan "Affiliated Party
ORGANIZATIONLimited Partner's Capital Commitment
ORGANIZATIONa Special Purpose Investment Fund
ORGANIZATIONReuben Kobulnik
PERSONReuben
PERSONAllen & Company
ORGANIZATION