Subject: Snowflake Update 11-19-2010
From: "Neil Callahan" <[email-masked]>
To: "'Hunter Biden'" <[email-masked]>, "'Eric Schwerin'" <[email-masked]>, "'Devon Archer'" <[email-masked]>, <[email-masked]>
Cc: "'Anne Marie Person'" <[email-masked]>
Date: Sat, 20 Nov 2010 10:04:25 -0500

Hey guys,

Devon and I has our weekly catch up with Curt yesterday.  The feedback from
his team was synonymous with ours, so we are in a go, which is great.

Specific discussion points:

1.	Thad/Agreement:

a.	He is ready to sign, we asked him to send the executed Term Sheet to
Hunter and Chris

                                                               i.
Chris|Hunter - let us know when you get it and please circulate including
Marc.

b.	He would like a meeting/call with Thad|Ronnine & Chris|Hunter

                                                               i.      The
topic of the meeting is "we are actually going to do this and what does that
mean"

                                                             ii.      I will
ask Anne Marie to schedule something ASAP

c.	He is now ready to be included on
collaboration/discussion/brainstorming emails & discussion, so he'd like to
be back in the loop.

2.	Timing:

a.	February is when Curt/Ronnie can "start", meaning hard pitches,
doing work
b.	It seems like February has been their date all along, they initially
mentioned this in August.  So clearly they had something else going on and
were on this path for the past 4 months.
c.	In terms of process, it's moot because we are still on track with
the plan we laid out 2 weeks about

                                                               i.
November:  

1.       basic materials development and prospect list development for Hedge
Funds and Corporate

                                                             ii.
December:

1.       Holiday party & social conversations, soft selling

2.       Scheduling initial sit down discussions for January

                                                            iii.
January

1.       Conduct informal sit downs with prospects

2.       Qualify the opportunity and schedule a formal Pitch for February is
required

                                                           iv.      February

1.       Formal pitch meetings

                                                             v.      March

1.       Contracting, project initiation

3.	General Comments

a.	In terms of USG and Vide, Snowflake moving at light speed in their
minds and at glacial speed in our minds. 

                                                               i.      So we
may need to slow down our expectations and they may need to ramp them up in
order for us to find a way to meet in the middle.  

b.	Andrews has been there 2 years, and in their culture, he is still
just breaking in, so this is a big win for Michael and helps him get closer
to being an insider, where I think today it's hard for him to be on the
inside because he's not a math Phd, etc.

4.	Next Steps

a.	I'll develop a revised workplan and get the initial marketing
material and prospect list \drafted by the 1st week in December 
b.	Curt/Devon and I will touch base again the 1st week of Dec
c.	Once we get the term sheet back, we'll get on the phone/meet and
have our discussion/sign off as Chris has proposed.

Let me know if you have any questions.

Best,

Neil

 

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Neil Callahan

Rosemont Seneca

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