Subject: Fwd: RSTP II LP Agreement
From: "Eric Schwerin" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Date: Wed, 4 Mar 2015 13:21:54 -0500

Take a look.   As we discussed, Michael edited the original agreement and while it looks long, it is relatively simple.  I am not 100% sure of the percentage ownerships of each person so we may take that out and fill that in when we can confirm with Will/John/Devon what the splits are currently.

Michael felt, and I agree with his thinking, that 1) you need to include Neil, John and Will as signatories to the agreement because a 80% vote is required and we have no assurance that Will has authority to sign the agreement on behalf of 80% of the partners and 2) you need to include the Devon side of things in the agreement because you (RHB) can’t withdraw from RSTP II without RSP’s ownership changing and if RSP is withdrawing you need to specify how all of RSP’s shares will be allocated.  

Michael left in the non-disparagement because we don’t want them doing the same to us.  Also, he left blank how much of a settlement to put in exchange for withdrawing from RSTP II and RSP giving up 5% of RSTP II.   You need to think about that number.

I think this works - but take a look and see what you think.

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked] <x-msg://59/[email-masked]>
P Consider the environment before printing this email.

> Begin forwarded message:
> 
> From: "Michael C. Hochman" <[email-masked]>
> To: Eric Schwerin <[email-masked]>
> Cc: Hunter Biden <[email-masked]>
> Subject: RE: RSTP II LP Agreement
> Date: March 4, 2015 at 12:57:58 PM EST
> 
> Eric,
>  
> For your and RHB’s review and comment, see attached redline.
>  
> Best,
>  
> Michael
>  
> Michael C. Hochman
> Monzack Mersky McLaughlin and Browder, P.A.
> 1201 N. Orange Street
> Suite 400
> Wilmington, DE  19801
> (302) 656-8162
> (302) 656-2769 (Fax)
> [email-masked] <mailto:[email-masked]>
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>  
> From: Eric Schwerin [mailto:[email-masked]] 
> Sent: Tuesday, March 03, 2015 2:50 PM
> To: Michael C. Hochman
> Subject: RSTP II LP Agreement
>  
>  
> Just FYI, attached is the RSTP II LP agreement.  While it does reference RSTP II, LLC, from what I was told and understand there is no separate operating agreement for RSTP II, LLC.  This might be wrong but that is what I was told.  The governance of the fund is governed by the LP agreement and the governance of RSTP (the GP) is governed by the RSTP, LLC operating agreement.
>  
> 
>  
> 
>  
>  
> Eric D. Schwerin
> Rosemont Seneca Partners, LLC
> 1010 Wisconsin Ave., NW
> Suite 705
> Washington, DC 20007
> (202) 333-1880
> [email-masked]
> P Consider the environment before printing this email.
>  
>  
>  
>