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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: Keith Fox Cc: Anastasiya Siro; Maximilian Straub Subject: Re: Term Sheet and Loan Agreement

rtspace and Artace form a strategic partnership in regards to their activities in e-commerce, lead generation and data analysis. Phaidon Digital and Artspace Inc. are Artace's preferred partners for these activities and Artace grants them a right of first refusal. EFTA00715441 On Tue, Feb 16, 2016 at 3:12 P

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(Direct Phone) I (Direct Fax) www.paulwe=ss.com <http://www.paulweiss.com> From: Keith Fox [mailto Sent: Thursday, February 18, 2016 3:16 PM To: Magnus Resch < <javascript:_e(%78%7D,icvmr,=#39 Cc: Anastasiya Siro <javascript:_e(%78%7D/c-vml <javascript:_e(%78%7D, summary: Subject: RE: Term Sheet and

Artace for= a strategic partnership in regards to their activities in e-commerce, lea= generation, editorial content and data analysis. Phaidon and Artspace Inc. are Artace's exclusive partners for these ac=ivities and Artace grants them a right of first refusal on data integratio=, gallery listings, analyti

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rtspace and Ar=ace form a strategic partnership in regards to their activities in e-comme=ce, lead generation and data analysis. Phaidon Digital and Artspace Inc. are Artace's preferred partners for these activities=and Artace grants them a right of first refusal. 9 EFTA_R1_01582041 EFTA02470790 On Tue, F

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Artace form a strategic partnership in regards to their activities in e-commerce, lead generation, editorial content and data analysis. Phaidon and Artspace Inc. are Artace's exclusive partners for these activities and Artace grants them a right of first refusal on data integration, gallery listings, analyti

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Artace form a strategic partnership in regards to their activities in e-commerce, lead generation, editorial content and data analysis. Phaidon and Artspace Inc. are Artace's exclusive partners for these activities and Artace grants them a right of first refusal on data integration, gallery listings, analytic

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rtspace and Artace form a strategic partnership in regards to their activities in e-commerce, lead generation and data analysis. Phaidon Digital and Artspace 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 >