Subject: SmartSynch
From: "Eric Schwerin" <[email-masked]>
To: "Hunter Biden" <[email-masked]>, <[email-masked]>, "Neil Callahan" <[email-masked]>
Date: Wed, 23 Jun 2010 14:58:42 -0400

FYI, had a talk with SmartSynch today and as I suspected they'd like to re-evaluate our agreement with them.   I told them that we had been talking internally as well and on our side would prefer more of an equity plus partnership relationship anyway.   I talked to them about a reduced retainer and a percentage of sales.  In addition, they have a $45-50m PE round coming up really soon and they'd like to hold out a piece for Rosemont Solebury to co-invest if we are interested.   Gets us to where we want to be with them even if it is a hit on the retainer.

Thoughts?

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked]
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