01/25/2019 11:56 AM EST
Jared Isaacman:
We should chat briefly at some point.
There
are now some things I think we must do in
order to get public. I have been quiet too
long.

01/25/2019 11:57 AM EST
Jared Isaacman:
Like within next couple of hours.

02/06/2019, 8:53 PM EST
Jared Isaacman:
Hey-we need to connect.
We are getting
screwed on processing economics per usual.

0/06/2019 8:57 PM EST
Jared Isaacman:
And it's going to materially impact multiples
in road show.

02/07/2019, 7:11 AM EST
Jared Isaacman:
Lots of ideas to fix it.

03/14/2019 6:22 PM EST
Jared Isaacman:
We need to connect.
I'm getting a lot more
concerned with our path.

03/14/2019 6:22 PM EST
Jared Isaacman:
?

04/04/2019 5:10 PM EST
Jared Isaacman:
We should connect this evening.
Need to
prepare you for a pretty big change.

04/05/2019, 3:04 PM EST
Jared Isaacman:
Let me know when good to connect today.

04/11/2019 9:38 AM EST
Jared Isaacman:
Thoughts on timing to connect?

04/11/2019 9:38 AM EST
Jared Isaacman:
?

05/01/2019, 6:00 PM EST
Jared Isaacman:
Can we talk for a few?

05/09/19,7:48 PM
Jared Isaacman: Any interest connecting?
05/14/19,9:16 PM
Jared Isaacman:
Going to need to make this work or really
make a lot of noise
05/14/19,9:16 PM
Jared Isaacman: ?

05/20/19, 8:59 PM
Jared Isaacman:
We should probably just prepare ourselves
for war
05/20/19, 9:02 PM
Jared Isaacman:
I definitely have no interest in further building
out tech only to enrich you guys through
your ridiculous processing economics

06/11/19,7:17 PM
Jared Isaacman:
Can we please put this behind us today?
06/13/19,7:10 PM
Jared Isaacman: Dinner was rather awkward
06/15/19, 10:11 AM
Jared Isaacman:
You should know-I'm negotiating to get all
processing back myself - probably going to
get it too.
07/08/19,11:57 AM
Jared Isaacman:
We still have an open economic dispute.
Are you just going to force a scorched earth
situation.

07/24/19,5:18 PM
Jared Isaacman:
You in town?
08/23/19, 10:44 AM
Jared Isaacman: You should call.
08/23/19, 10:48 AM
Jared Isaacman: Okay - full scorched earth it is
08/23/19, 10:50 AM
Jared Isaacman:
You have no idea the storm that is coming
your way

From: Taylor Lavery
Sent: Friday, August 23, 2019 3:16 PM
To: Jeffrey W. Shanahan; Christopher J. Jacques
Cc: Frank E. Segall
Subject: Re: Shift4

Jeff and Chris: I just received an email from Brad (copying Frank) stating that he just spoke with
Jared Isaacman, Shift4's CEO. Isaacman apparently threatened to sue CardConnect claiming that we have
been, and continue to be, in breach of the 2017 Referral Agreement between the parties. Isaacman also
apparently threatened to bring Blackstone into it and to also notify the SEC since Blackstone is an
investor via a convertible note.

I believe the 2017 Referral Agreement has expired (I will have to check) and that, under its terms, any
dispute would have to be arbitrated in Philly. In order to trigger that provision, we may want to respond
to lrish's recent email (copying me) concerning our ability to support Shift4's desire to offer a token
format that Shift4 claims is more secure and reliable. I would be inclined to have us ask lrish to consult
with his technology counter-part at Shift4 in order to evaluate the proposed token format and to see if
we can accommodate its implementation without interfering with our current processing protocols. I
would not want to get into a debate at this point as to whether we are obligated to accommodate Shift4's
request.

I do not know whether Isaacman has a legitimate claim that we have somehow not lived up to our end of
the 2017 Referral Agreement. However, since it is likely coming our way, we should gather whatever
information we have internally on the circumstances that have led up to Isaacman's apparent threat to
sue us and bring Blackstone and the SEC into it.
Thanks,
Taylor