, Morgan Stanley, and Kernel Capital > 24+ direct and secondary technology investments with co-investors such as Founders Fund, 500 Startups, SGE, State of NY, Microsoft, and Motorola MorgaiiStanley Banc ()filmed= Securities LEHMAN BROTHERS Gabe Turner General Partner )- Executive Director of Draper V

of America Securities and Kernel Capital • 24+ direct and secondary technology investments with co- investors such as Founders Fund, 500 Startups, State of NY, Microsoft and Motorola et, Morgan Sta n I ey Banc of America Securities LEHMAN BROTHERS Sa• Regina Liang Analyst • 4 years of strategy and ma

ere unsuitaale for certain clients and fees/commissions were higher than non- fee based accounts Disposition: Remediation to Customers & Penalty to State of NY Remetkation: 521300,000; Penalty: 52.000,030 Page 1 of 2 OBS PS Disciplinary History for Third Party Funds - Dictribution Plasform 9-20-13.dos CO