Subject: Re: Finalizing RSTP Alpha and Bravo Economics
From: "John DeLoche" <[email-masked]>
To: "Hunter Biden" <[email-masked]>
Cc: "William Lee" <[email-masked]>, "Chris Heinz" <[email-masked]>, "Devon Archer" <[email-masked]>, "Neil Callahan" <[email-masked]>
Date: Tue, 30 Jun 2015 17:11:19 -0700

Hunter,

Thanks for processing the mark up. It looks like it is close to being finished but there were a few minor items from the original that did not make it in this version. We are trying to turn around an execution version for distribution tomorrow. 

Best,

John 

John DeLoche
RSTP
415 793 7070

> On Jun 30, 2015, at 10:44 AM, Hunter Biden <[email-masked]> wrote:
> 
> This all works for me.   I have gone ahead and had the agreement that was sent around in March revised to reflect the below and included the splits for me, Devon, Chris and Eric on Schedule A.
> 
> If everyone is in agreement, let’s execute the attached this week.
> 
> Best,
> 
> Hunter
> 
>> On Wed, Jun 24, 2015 at 11:26 AM, William Lee <[email-masked]> wrote:
>> Yes I'm in agreement of this as well.
>> 
>> William Lee @ RSTP
>> 
>> > On Jun 24, 2015, at 7:09 AM, John DeLoche <[email-masked]> wrote:
>> >
>> > Gentlemen,
>> >
>> > As discussed, we need to finalize the economics for our operating agreements for RSTP II Alpha and Bravo. Goldman has asked us for definitive closure on this subject as they are the sole LP of these vehicles. These will be fully vested GP % splits and they need to be allocated to individuals. Our historical splits for these two vehicles have been:
>> >
>> > Will, Neil, John: 55% (equally split among them)
>> > Chris, Devon: 22.5%
>> > Hunter (and team): 22.5%
>> >
>> > Given the outstanding contribution of Rob Walker, several of us feel he should be rewarded and receive a specified share of the GP split for these vehicles. It has been proposed by multiple partners that the right thing to do here is allocate Rob 10% of the GP of Alpha and Bravo and for all of us to bear the dilution hit equally. The revised splits to reflect this would be as follows:
>> >
>> > Will, Neil, John: 49.50% (equally split)
>> > Chris, Devon: 20.25% (please let us know split for execution docs)
>> > Hunter (and Eric?): 20.25% (please let us know split for execution docs)
>> > Rob: 10%
>> >
>> > Please reply with your agreement, or comments, on the above and note final individual splits where necessary. We should aim to execute this agreement this week.
>> >
>> > Warmest regards,
>> >
>> > John
>> >
>> > John DeLoche
>> > Co-founder & Managing Director
>> > RSTP
>> > 333 Bush Street, 21st Floor
>> > San Francisco, CA 94104
>> > direct: 415 767 1288
>> > mobile: 415 793 7070
>> >
>> >
> 
> 
> 
> -- 
> R. Hunter Biden
> Rosemont Seneca Partners, LLC
> 1010 Wisconsin Ave., NW
> Suite 705
> Washington, DC 20007
> (202) 333-1880
> <RSTP, LLC-Rosemont Seneca, LLC Agreement - 6.25.15 version.docx