Epstein Secrets

ely dissolve the various holding entities created for the investment. Due to the structure of the investment, Total Value for Sins I + Co-invest and Siris I includes approximately $3 million and $10 million of fees. respectively, received by Siris led co-investors or their affiliates and Siris I althou

mate veto right of SAC and therefore may not accurately reflect what the individual performance of the Principals would otherwise have been. 'c For Airvana, the Realized Value reflects amounts from (i) dividend recapitalizations completed in August 2010 and April 2011. (ii) sale of the EVDO division to E

ely dissolve the various holding entities created for the investment. Due to the structure of the investment, Total Value for Sins I + Co-invest and Siris I includes approximately $3 million and $10 million of fees. respectively, received by Siris led co-investors or their affiliates and Siris I althou

mate veto right of SAC and therefore may not accurately reflect what the individual performance of the Principals would otherwise have been. 'c For Airvana, the Realized Value reflects amounts from (i) dividend recapitalizations completed in August 2010 and April 2011. (ii) sale of the EVDO division to E

ns set forth above. The target gross returns sot forth herein are based on Sins' belief regarding what returns may be achievable on investments that Siris intends to pursue in light of the Sins Founders' experience with similar investments, and are also based on an assumption that economics, market and

and portfolio company ma nagement at the holding company level and may also include other dilutive instruments such as lender warrants (Tekelec and Airvana). Pro forma "Net IRR" and pro Forma "Net MOIC" for Sins funds • Co-invest are an estimated and hypothetical return calculation as co-investment amou

ns set forth above. The target gross returns sot forth herein are based on Sins' belief regarding what returns may be achievable on investments that Siris intends to pursue in light of the Sins Founders' experience with similar investments, and are also based on an assumption that economics, market and

and portfolio company ma nagement at the holding company level and may also include other dilutive instruments such as lender warrants (Tekelec and Airvana). Pro forma "Net IRR" and pro Forma "Net MOIC" for Sins funds • Co-invest are an estimated and hypothetical return calculation as co-investment amou