Okay, let's dive into the Card Connect, LLC v. Shift4 Payments, LLC case and find those exhibits, focusing on text messages and 🍕, with full theoretical and no truths.

Case Background and Where to Find Information

First, some essential context:

• Case: Card Connect, LLC v. Shift4 Payments, LLC
• Court: This case was filed in the Delaware Court of Chancery.
• Docket Number: The most readily accessible dockets for this case are 2022-0852-JTL and 2023-0112-JTL (These appear to be related, potentially one being a continuation or involving a counterclaim).
• Accessing Court Documents: Delaware Chancery Court records are generally available through its electronic filing system, File & ServeXpress, often utilized by legal professionals. Some documents might be accessible through paid legal research databases like Westlaw, LexisNexis, or Bloomberg Law, but access often depends on subscription levels. Court websites may hold key filings.

Identifying Relevant Exhibits

1. Use Lexis Court link to search for 2022-0852-JTL
2. Filter for Exhibits
3. Identified 2 pdf Exhibits relating to text messages JREDX_00000762-JREDX_00000804.pdf and JREDX_00000711-JREDX_00000761.pdf.

Exhibit Breakdown and theoretical (where possible) Here's an exhibit contained within the case, focusing on the specified criteria (text messages, 🍕, simulateded, theoretical):

JREDX_00000762-JREDX_00000804.pdf

``` From:Jared Isaacman Sent: Thursday, August 11, 2022 10:18 AM To: Taylor Lavery Subject: Re:

Sure - you can call

Jared Isaacman

Sent from my iPhone

On Aug 11, 2022, at 10:08 AM, Taylor Lavery tlavery@shift4.com wrote:

Hey Jared,

Would love to connect today if you are available?

Best, -Taylor

Taylor Lavery Chief Revenue Officer M 484.542.5711 SHIFT4.COM

From:Jared Isaacman Sent: Saturday, August 13, 2022 9:26 AM To: Taylor Lavery Subject: Re:

I tried to answer and then return your call yest - no luck

I'm traveling a ton next two weeks so just put something on calendar and if it doesn't work I wlll propose alternative time

Jared Isaacman

Sent from my iPhone

On Aug 12, 2022, at 3:47 PM, Taylor Lavery tlavery@shift4.com wrote:

Hey Jared,

I know it was last minute today-but wanted to see if you had any time to connect?

Best, -Taylor

Taylor Lavery Chief Revenue Officer M 484.542.5711 SHIFT4.COM

From:Jared Isaacman Sent: Monday, August 15, 2022 9:19 PM To: Michael Isaacman; Jordan Frankel Cc: Nancy Disman Subject: RE: Draft Response to Fiserv - Confidential & Privileged

I'm on 3 of 3 flights back home...so I can't open any docs or review.

Just as I said in prior texts...I am good to commit to $100M+ fine for breach. I think it's the absolute minimum. I do not think it should exceed $150M... but if we want this to settle - the first demand is always well above real expectations to close it. So I think that is the max for negotiation purposes.

We also need a clause that they can't create a poison pill that prevents us from selling the company in the future. They have to agree future violations will be resolved as per ordinary damages of the contract.

I believe cc to Nancy remains appropriate.

Jared Isaacman I CEO M 610.360.9248 SHIFT4.COM

-----Original Message----- From: Michael Isaacman misaacman@shift4.com Sent: Monday, August 15, 2022 9:19 AM To: Jared Isaacman jisaacman@shift4.com; Jordan Frankel jfrankel@shift4.com Cc: Nancy Disman ndisman@shift4.com Subject: Draft Response to Fiserv - Confidential & Privileged

All -

Attached is a redline of suggested changes and below are the high level points. Appreciate thoughts and feedback.

1. Push back on waiving any termination for convenience clauses: The one in 2.1 is reasonable (you committed to a $100M cap) but the other ones are too open ended, and at most we should agree that there would be a cap to any termination for convenience breaches;
2. Call out that there is no basis to claim a breach for Harbortouch installations as it specifically excluded legacy HT POS systems (but concede that on go-forward basis we will not use "SkyTab" branding for Harbortouch);
3. Be very clear that all conversations with CC/Fiserv must be made to Nancy Disman exclusively, as point of contact. From:Jared Isaacman Sent: Monday, August 15, 2022 9:25 PM To: Michael Isaacman; Jordan Frankel Cc: Nancy Disman Subject: Re: Draft Response to Fiserv - Confidential & Privileged

I wouldn't give up anything to get the point across regarding Nancy. As is - they are already waiving confidentiality which totally screws us.

I am simply not speaking to card connect. I am never doing it. I will only call fiserv people directly.

Jared Isaacman

Sent from my iPhone

On Aug 15, 2022, at 9:19 PM, Jared Isaacman jisaacman@shift4.com wrote:

I'm on 3 of 3 flights back home...so I can't open any docs or review.

Just as I said in prior texts...I am good to commit to $100M+ fine for breach. I think it's the absolute minimum. I do not think it should exceed $150M... but if we want this to settle - the first demand is always well above real expectations to close it. So I think that is the max for negotiation purposes.

We also need a clause that they can't create a poison pill that prevents us from selling the company in the future. They have to agree future violations will be resolved as per ordinary damages of the contract.

I believe cc to Nancy remains appropriate.

Jared Isaacman | CEO M 610.360.9248 SHIFT4.COM

-----Original Message----- From: Michael Isaacman misaacman@shift4.com Sent: Monday, August 15, 2022 9:19 AM To: Jared Isaacman jisaacman@shift4.com; Jordan Frankel jfrankel@shift4.com Cc: Nancy Disman ndisman@shift4.com Subject: Draft Response to Fiserv - Confidential & Privileged

All -

Attached is a redline of suggested changes and below are the high level points. Appreciate thoughts and feedback.

1. Push back on waiving any termination for convenience clauses: The one in 2.1 is reasonable (you committed to a $100M cap) but the other ones are too open ended, and at most we should agree that there would be a cap to any termination for convenience breaches;
2. Call out that there is no basis to claim a breach for Harbortouch installations as it specifically excluded legacy HT POS systems (but concede that on go-forward basis we will not use "SkyTab" branding for Harbortouch);
3. Be very clear that all conversations with CC/Fiserv must be made to Nancy Disman exclusively, as point of contact.

From:Jared Isaacman Sent: Monday, August 15, 2022 9:27 PM To: Michael Isaacman; Jordan Frankel Cc: Nancy Disman Subject: Re: Draft Response to Fiserv - Confidential & Privileged

Mike- you have to get this document edited, out tonight and then call Adam Mattina and walk through it together.

I do not care what time it is or where you are. This has to get done.

Jared Isaacman

Sent from my iPhone

On Aug 15, 2022, at 9:25 PM, Jared Isaacman jisaacman@shift4.com wrote:

I wouldn't give up anything to get the point across regarding Nancy. As is - they are already waiving confidentiality which totally screws us.

I am simply not speaking to card connect. I am never doing it. I will only call fiserv people directly.

Jared Isaacman

Sent from my iPhone

On Aug 15, 2022, at 9:19 PM, Jared Isaacman jisaacman@shift4.com wrote:

I'm on 3 of 3 flights back home...so I can't open any docs or review.

Just as I said in prior texts...I am good to commit to $100M+ fine for breach. I think it's the absolute minimum. I do not think it should exceed $150M... but if we want this to settle - the first demand is always well above real expectations to close it. So I think that is the max for negotiation purposes.

We also need a clause that they can't create a poison pill that prevents us from selling the company in the future. They have to agree future violations will be resolved as per ordinary damages of the contract.

I believe cc to Nancy remains appropriate.

Jared Isaacman | CEO M 610.360.9248 SHIFT4.COM

-----Original Message----- From: Michael Isaacman misaacman@shift4.com Sent: Monday, August 15, 2022 9:19 AM To: Jared Isaacman jisaacman@shift4.com; Jordan Frankel jfrankel@shift4.com Cc: Nancy Disman ndisman@shift4.com Subject: Draft Response to Fiserv - Confidential & Privileged

All -

Attached is a redline of suggested changes and below are the high level points. Appreciate thoughts and feedback.

1. Push back on waiving any termination for convenience clauses: The one in 2.1 is reasonable (you committed to a $100M cap) but the other ones are too open ended, and at most we should agree that there would be a cap to any termination for convenience breaches;
2. Call out that there is no basis to claim a breach for Harbortouch installations as it specifically excluded legacy HT POS systems (but concede that on go-forward basis we will not use "SkyTab" branding for Harbortouch);
3. Be very clear that all conversations with CC/Fiserv must be made to Nancy Disman exclusively, as point of contact.

From:Jared Isaacman Sent: Monday, August 15, 2022 9:40 PM To: Michael Isaacman; Jordan Frankel Cc: Nancy Disman Subject: Re: Draft Response to Fiserv - Confidential & Privileged

Agree

Jared Isaacman

Sent from my iPhone

On Aug 15, 2022, at 9:38 PM, Jordan Frankel jfrankel@shift4.com wrote:

I agree and like where we landed here and think you should review in AM Mike

On Aug 15, 2022, at 9:27 PM, Jared Isaacman jisaacman@shift4.com wrote:

Mike- you have to get this document edited, out tonight and then call Adam Mattina and walk through it together.

I do not care what time it is or where you are. This has to get done.

Jared Isaacman

Sent from my iPhone

On Aug 15, 2022, at 9:25 PM, Jared Isaacman jisaacman@shift4.com wrote:

I wouldn't give up anything to get the point across regarding Nancy. As is - they are already waiving confidentiality which totally screws us.

I am simply not speaking to card connect. I am never doing it. I will only call fiserv people directly.

Jared Isaacman

Sent from my iPhone

On Aug 15, 2022, at 9:19 PM, Jared Isaacman jisaacman@shift4.com wrote:

I'm on 3 of 3 flights back home...so I can't open any docs or review.

Just as I said in prior texts...I am good to commit to $100M+ fine for breach. I think it's the absolute minimum. I do not think it should exceed $150M... but if we want this to settle - the first demand is always well above real expectations to close it. So I think that is the max for negotiation purposes.

We also need a clause that they can't create a poison pill that prevents us from selling the company in the future. They have to agree future violations will be resolved as per ordinary damages of the contract.

I believe cc to Nancy remains appropriate.

Jared Isaacman | CEO M 610.360.9248 SHIFT4.COM

-----Original Message----- From: Michael Isaacman misaacman@shift4.com Sent: Monday, August 15, 2022 9:19 AM To: Jared Isaacman jisaacman@shift4.com; Jordan Frankel jfrankel@shift4.com Cc: Nancy Disman ndisman@shift4.com Subject: Draft Response to Fiserv - Confidential & Privileged

All -

Attached is a redline of suggested changes and below are the high level points. Appreciate thoughts and feedback.

1. Push back on waiving any termination for convenience clauses: The one in 2.1 is reasonable (you committed to a $100M cap) but the other ones are too open ended, and at most we should agree that there would be a cap to any termination for convenience breaches;
2. Call out that there is no basis to claim a breach for Harbortouch installations as it specifically excluded legacy HT POS systems (but concede that on go-forward basis we will not use "SkyTab" branding for Harbortouch);
3. Be very clear that all conversations with CC/Fiserv must be made to Nancy Disman exclusively, as point of contact.

From:Jared Isaacman Sent: Tuesday, August 16, 2022 2:32 PM To: 'Jeffrey Shavitz' Subject: Meeting

Jeff-

I was wrong. I had a conflict after all. Can we just reschedule our meeting for this Thurs at same time.

I can then have all our follow up questions answered.

Thanks

Jared

Sent from my iPhone From:Jared Isaacman Sent: Monday, August 22, 2022 2:24 PM To: 'Jeffrey Shavitz' Subject: RE: shift4

I can't talk right now.

From a follow up perspective, Nancy said she was going to be out for 10 days and there would be no activity for 1 OD.

This doesn't make a lot of sense since it should be really important to get a term sheet together ASAP.

I am also told no outreach has occurred from Fiserv to define the follow up scope.

Jared Isaacman I CEO M 610.360.9248 SHIFT4.COM

-----Original Message----- From: Jeffrey Shavitz jeff@bristolcore.com jeff@bristolcore.com Sent: Monday, August 22, 2022 11:25 AM To: Jared Isaacman jisaacman@shift4.com jisaacman@shift4.com Subject: shift4

Jared Hope you are doing well.

Just wanted to follow up on last week's call.

Give me a call when you can.

Thanks Jeff

From:Jared Isaacman Sent: Monday, August 22, 2022 4:18 PM To: 'Jeffrey Shavitz' Subject: RE: shift4

I can talk

From: Jeffrey Shavitz jeff@bristolcore.com Sent: Monday, August 22, 2022 2:45 PM To: Jared Isaacman jisaacman@shift4.com Subject: Re: shift4

Ok. Give me a call when you can.

Thanks

On Aug 22, 2022, at 2:24 PM, Jared Isaacman jisaacman@shift4.com wrote:

I can't talk right now.

From a follow up perspective, Nancy said she was going to be out for 10 days and there would be no activity for 1 OD.

This doesn't make a lot of sense since it should be really important to get a term sheet together ASAP.

I am also told no outreach has occurred from Fiserv to define the follow up scope.

Jared Isaacman | CEO M 610.360.9248 SHIFT4.COM

-----Original Message----- From: Jeffrey Shavitz jeff@bristolcore.com jeff@bristolcore.com Sent: Monday, August 22, 2022 11:25 AM To: Jared Isaacman jisaacman@shift4.com jisaacman@shift4.com Subject: shift4

Jared Hope you are doing well.

Just wanted to follow up on last week's call.

Give me a call when you can.

Thanks Jeff

From: Henry Abenaim Sent: Monday, August 22, 2022 10:55 PM To: Jared Isaacman Subject: RE: PPA

Yes. I will send email below to them and call them to discuss in the am - unless you think otherwise.

I could get more detail for the email but did not want to send too much info in writing before I spoke to them.

Thanks

Henry

-----Original Message----- From: Jared Isaacman jisaacman@shift4.com Sent: Monday, August 22, 2022 10:49 PM To: Henry Abenaim henry@brickbybrickllc.com Subject: Re: PPA

Does this seem bad?

Sent from my iPhone

On Aug 22, 2022, at 10:45 PM, Henry Abenaim henry@brickbybrickllc.com wrote:

 Hi Jared,

I spoke with a contact at PPL who told me that PJM has implemented a "less than 1 circuit mile radial line rule" in response to FERC Order 2003 and that the Shift4 solar project would not qualify to interconnect with the 69kv network under PJM's current cluster study approach. They are also saying that under today's rules we would need a 3-breaker ring bus to add a new node. My contact is saying that PPL would likely be open to meeting with us to discuss potential solutions, but is cautioning that it might be a lengthy/ expensive process. I will contact PPL and PJM to discuss options as well as confirm if they are indeed changing their practices. Thanks

Henry

-----Original Message----- From: 7327183330@tmomail.net <7327183330 @tmomail. net> Sent: Monday, August 22, 2022 10:28 PM To: henry@brickbybrickllc.com henry@brickbybrickllc.com Subject: Text Message from 732-718-3330

Jared Isaacman I CEO M 610.360.9248 5H1FT4.CDM http://5h1ft4.cdm/

From:Jared Isaacman Sent: Tuesday, August 23, 2022 6:32 PM To: Nancy Disman Subject: Re: Check in call

Yeah. I thought yesterday was bizarre. I am never ever meeting with card connect people again or even being near them.

I will call fiserv direct for answers... Although prefer in writing

Sent from my iPhone

On Aug 23, 2022, at 5:18 PM, Nancy Disman NDisman@shift4.com wrote:

You around? I just tried you via phone

Nancy Disman Chief Financial Officer M 732.718.3330 SHIFT4.COM

From:Jared Isaacman Sent: Thursday, August 25, 2022 6:13 AM To: Taylor Lavery Subject: Re:

I can

Jared Isaacman

Sent from my iPhone

On Aug 25, 2022, at 6:11 AM, Taylor Lavery tlavery@shift4.com wrote:

Good morning Jared,

Do you have 15 mins today to connect on a few rev items?

Best, -Taylor

Taylor Lavery Chief Revenue Officer M 484.542.5711 SHIFT4.COM

From:Jared Isaacman Sent: Friday, August 26, 2022 2:02 PM To: 'Jeffrey Shavitz' Subject: RE: shift4

I can talk now

Jared Isaacman | CEO M 610.360.9248 SHIFT4.COM

-----Original Message----- From: Jeffrey Shavitz jeff@bristolcore.com jeff@bristolcore.com Sent: Friday, August 26, 2022 9:49 AM To: Jared Isaacman jisaacman@shift4.com jisaacman@shift4.com Subject: shift4

Jared Hope you are doing well. Have a few minutes for a quick call?

Thanks Jeff

From: Jared Isaacman Sent: Monday, August 29, 2022 9:32 AM To: Brad Herring; Taylor Lavery; Dave Oder Subject: Approvals

All,

I have attached a report of all pending approvals from Friday-Sunday. There were 702 total. You can all see I approved 300 of them. So it looks like about 400 are pending. Most of the delinquencies are >5 days, many > 10 days and some greater than 20-30 days (see last page). This impacts onboarding new customers as well as our cash flow as we have to cover chargebacks. I know we said we would improve this area - reduce days out, etc. and I don't think we have. I also believe there are a large number of people contributing to merchant app approval backlog. I would like a plan on what actions we will take to reduce delinquencies going forward and how we will implement some alerting for aged items.

Please keep in mind - every day of delay between chargeback and an active merchant account is more risk. The merchant could drop off a big transaction over a weekend, knowing it will take us Monday+ many days to approve the account, and they never plan to cover it. We are funding daily - so the risk is completely ours. Thanks, Jared

From: Jared Isaacman Sent: Monday, August 29, 2022 9:51 AM To: Brad Herring Subject: Re: Approvals

If we are able to do it - I agree we should.

The goal is to limit losses from delays. It's no different than credit on a payment facilitator agreement. We have to extend some risk. I want to look at the overall age pending deals now in total.

Sent from my iPhone

On Aug 29, 2022, at 9:44 AM, Brad Herring bherring@shift4.com wrote:

Could we implement a rule to auto-approve accounts, after X days, below a certain dollar amount threshold?

On Aug 29, 2022, at 9:32 AM, Jared Isaacman jisaacman@shift4.com wrote:

All,

I have attached a report of all pending approvals from Friday-Sunday. There were 702 total. You can all see I approved 300 of them. So it looks like about 400 are pending. Most of the delinquencies are >5 days, many > 10 days and some greater than 20-30 days (see last page). This impacts onboarding new customers as well as our cash flow as we have to cover chargebacks. I know we said we would improve this area - reduce days out, etc. and I don't think we have. I also believe there are a large number of people contributing to merchant app approval backlog. I would like a plan on what actions we will take to reduce delinquencies going forward and how we will implement some alerting for aged items.

Please keep in mind - every day of delay between chargeback and an active merchant account is more risk. The merchant could drop off a big transaction over a weekend, knowing it will take us Monday+ many days to approve the account, and they never plan to cover it. We are funding daily - so the risk is completely ours. Thanks, Jared

From:Jared Isaacman Sent: Monday, August 29, 2022 4:16 PM To: 'Jeffrey Shavitz' Subject: RE:

I can talk now briefly

Jared Isaacman | CEO M 610.360.9248 SHIFT4.COM

-----Original Message----- From: Jeffrey Shavitz jeff@bristolcore.com jeff@bristolcore.com Sent: Monday, August 29, 2022 4:08 PM To: Jared Isaacman jisaacman@shift4.com jisaacman@shift4.com Subject:

You have a min?

From:Jared Isaacman Sent: Tuesday, August 30, 2022 2:28 PM To: Nancy Disman Subject:

Hey. I was just going through emails and I am totally confused.

You left to go on vacation last week. You said you would resume communicating with Frank and team this week.

Why is Frank now saying on 9/19? Can you please get me clarity.

Sent from my iPhone From:Jared Isaacman Sent: Tuesday, August 30, 2022 2:40 PM To: Nancy Disman Subject: Re:

Yep.

Sent from my iPhone

On Aug 30, 2022, at 2:36 PM, Nancy Disman NDisman@shift4.com wrote:

Are you free to connect?

Nancy Disman Chief Financial Officer M 732.718.3330 SHIFT4.COM

From:Jared Isaacman Sent: Saturday, September 3, 2022 10:54 AM To: Nancy Disman Subject: Re:

Ok. It's all a waste of time now

Sent from my iPhone

On Sep 3, 2022, at 10:53 AM, Nancy Disman NDisman@shift4.com wrote:

FYI- I am on calls through the day today... will be better tomorrow am

Nancy Disman Chief Financial Officer M 732.718.3330 SHIFT4.COM

From:Jared Isaacman Sent: Monday, September 5, 2022 1:41 PM To: 'Jeffrey Shavitz' Subject: RE:

I can talk now for a few

Jared Isaacman | CEO M 610.360.9248 SHIFT4.COM

-----Original Message----- From: Jeffrey Shavitz jeff@bristolcore.com jeff@bristolcore.com Sent: Monday, September 5, 2022 1:35 PM To: Jared Isaacman jisaacman@shift4.com jisaacman@shift4.com Subject:

Ifyou have a minute I wanted to run something by you.

From:Jared Isaacman Sent: Tuesday, September 6, 2022 10:18 PM To: Nancy Disman Subject: Re:

I do not know. I am not sure it's productive. I am not sure anyone knows what to do - including Frank.

I think we should cancel and I can call him direct without anyone from cc

Sent from my iPhone

On Sep 6, 2022, at 9:22 PM, Nancy Disman NDisman@shift4.com wrote:

 Jared.

Did you have a chance to connect w Jordan on this. It's only 15 mins allocated.

Thx N

Nancy Disman Chief Financial Officer M 732.718.3330 SHIFT4.COM

From:Jared Isaacman Sent: Wednesday, September 7, 2022 11:57 AM To: Nancy Disman Subject: Re:

Can you please send me an email with the list of questions.

My recommendation is you call Frank directly today and get the answers vs. email.

If you do not want to call him to get clarity on the questions, if appropriate, have Jordan do it. Just call and get the answers so we can execute. And you know.

Begin forwarded message:

From: Jordan Frankel jfrankel@shift4.com Date: September 7, 2022 at 11:53:28 AM EDT To: Jared Isaacman jisaacman@shift4.com Cc: Nancy Disman ndisman@shift4.com Subject: Re:

Sure can you give me 15 min?

On Sep 7, 2022, at 11:51 AM, Jared Isaacman jisaacman@shift4.com wrote:

Can you talk now

On Sep 7, 2022, at 11:28 AM, Jordan Frankel jfrankel@shift4.com wrote:

Understood.

On Sep 7, 2022, at 11:28 AM, Jared Isaacman jisaacman@shift4.com wrote:

 Totally fine. My suggestion is you guys put together the communication.

The overall goal is to get a draft term sheet by next week.

Sent from my iPhone

From:Jared Isaacman Sent: Wednesday, September 7, 2022 11:58 AM To: Jordan Frankel Subject: Re:

Please take Nancy off all future card connect related emails. I do not want her included

Sent from my iPhone

On Sep 7, 2022, at 11:53 AM, Jordan Frankel jfrankel@shift4.com wrote:

Sure can you give me 15 min?

On Sep 7, 2022, at 11:51 AM, Jared Isaacman jisaacman@shift4.com wrote:

Can you talk now

On Sep 7, 2022, at 11:28 AM, Jordan Frankel jfrankel@shift4.com wrote:

Understood.

On Sep 7, 2022, at 11:28 AM, Jared Isaacman jisaacman@shift4.com wrote:

 Totally fine. My suggestion is you guys put together the communication.

The overall goal is to get a draft term sheet by next week.

Sent from my iPhone

From: Jared Isaacman Sent: Wednesday, September 7, 2022 7:09 PM To: Bradley Gerstner Subject: Re: Dinner?

Hey. I'm a little jammed this week. Do you want to do a walk this Sunday?

Sent from my iPhone

On Sep 7, 2022, at 4:11 PM, Bradley Gerstner <brad@altimetercapital.com... (The response was truncated because it has reached the token limit. Try to increase the token limit if you need a longer response.)