Driving Business Advantage

FOLEY HOAG LLP Driving Business Advantage Liquidation Preference ■ Three main flavors (ranked in increasing order of bitterness): - Non-Participating Preferred - Capped Participating Preferred – Uncapped Participating Preferred Note: preferred always get the greater of either their preference or what they would receive if they converted to common stock © 2014 Foley Hoag LLP. All Rights Reserved. 25 25

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