# EDGAR Filing Document

**Accession Number:** 0001909043
**File Stem:** 0001670254-23-000058
**Filing Date:** 2023-2
**Character Count:** 422500
**Document Hash:** 3dacf0d3e879ad30e6b6fd5874e93cd1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001670254-23-000058.hdr.sgml**: 20230201

**ACCESSION NUMBER**: 0001670254-23-000058

**CONFORMED SUBMISSION TYPE**: C/A

**PUBLIC DOCUMENT COUNT**: 13

**FILED AS OF DATE**: 20230201

**DATE AS OF CHANGE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BYGMusic LLC
- **CENTRAL INDEX KEY:** 0001909043
- **IRS NUMBER:** 474409632
- **STATE OF INCORPORATION:** CA

**FILING VALUES:**
- **FORM TYPE:** C/A
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 020-30996
- **FILM NUMBER:** 23574218

**BUSINESS ADDRESS:**
- **STREET 1:** 1140 HIGHLAND AVENUE #169
- **CITY:** MANHATTAN BEACH
- **STATE:** CA
- **ZIP:** 90266
- **BUSINESS PHONE:** 5106982462

**MAIL ADDRESS:**
- **STREET 1:** 1140 HIGHLAND AVENUE #169
- **CITY:** MANHATTAN BEACH
- **STATE:** CA
- **ZIP:** 90266

## Ex-99

### Attached PDF Documents

**Attachment 1:** `document_1.pdf`

# Form C

## Cover Page

Name of issuer:

BYGMusic LLC

Legal status of issuer:

From: Limited Liability Company

Jurisdiction of Incorporation/Organization: CA

Date of organization: 4/23/2015

Physical address of issuer:

740 Highland Avenue #103

Manhattan Beach CA 90266

Website of issuer:

http://www.BYGMusic.com

Name of intermediary through which the offering will be conducted:

Wafundor Portal LLC

CIV number of intermediary:

0009670254

SEC file number of intermediary:

007-00033

CFO number, if applicable, of intermediary:

283905

Amount of compensation to be paid to the intermediary, whether as a dollar amount or a percentage of the offering amount, or a good faith estimate if the asset amount is not available at the time of the filing. For conducting the offering, including the amount of interest and any other fees associated with the offering:

8.5% of the offering amount upon a successful fundraiser, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the issuer in connection with the offering.

Any other direct or indirect interest in the issuer held by the intermediary, or any arrangement for the intermediary to acquire such an interest:

No

Type of security offered:

☐ Common Stock

☐ Preferred Stock

☐ Debt

☑ Other

If Other, describe the security offered:

Simple Agreement for Future Equity (SAFE)

Target number of securities to be offered:

25,000

Price:

$1.00000

Method for determining price:

Pre-rated portion of the total principal value of $25,000, interests will be sold in increments of $1 each investment is convertible to one unit as described under item 13.

Target offering amount:

$25,000.00

Oversales/options accepted:

☑ Yes

☐ No

If yes, describe how oversales/options will be allocated:

☐ Pre-rata basis

☐ Post-claim, first-served basis

☑ Other

If other, describe how oversales/options will be allocated:

As determined by the issuer

Maximum offering amount (if different from target offering amount):

$107,000.00

Deadline to reach the target offering amount:

4/30/2023

NOTE: If the sum of the investment commitments does not equal or exceed the target offering amount at the offering deadline, no securities will be sold in the offering. Investment commitments will be cancelled and committed funds will be resumed.

Current number of employees:

5

|  | Most recent fiscal year-end: | Prior fiscal year-end: |
| --- | --- | --- |
| Total Assets | $50.00 | $302,810.00 |
| Cash & Cash Receivables | $50.00 | $303,810.00 |
| Accounts Receivable | $0.00 | $0.00 |
| Short-term Debt | $16,000.00 | $39,000.00 |
| Long-term Debt | $817,538.00 | $196,100.00 |
| Short-term Sales | $636,749.00 | $725,815.00 |
| Cash & Cash Cash | $406,183.00 | $430,287.00 |
| Taxes Paid | $0.00 | $0.00 |
| Net Income | ($270,850.00) | ($17,046.00) |

Select the jurisdictions in which the issuer intends to offer the securities:

AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI, WY, WI

## Offering Statement

Respond to each question in each paragraph of this post, but both each question and any notes, but not any instructions therein, in that entirety. If disclosure is required in any question is requested to use in more often questions, it is not necessary to report the disclosure. If a question or series of questions is negligible or the response is available elsewhere in the form, either note that it is inapplicable, include a cross-reference in the responses disclosure, or note the question or series of questions.

Be very careful and precise in answering all questions. Give full and complete answers so that they are not misleading under the circumstances involved. Do not discuss any future performance or other anticipated event unless you have a reasonable basis to believe that it will actually occur within the reasonable limits. If any answer requiring significant information is currently inaccurate, incomplete or misleading, the Company, its management and principal shareholders may be liable to incorrect based on that information.

### THE COMPANY

1. Name of Issuer:

BMSMUSC LLC

### COMPANY ELIGIBILITY

2. ☑ Check this box to certify that all of the following statements are true for the issuer:
- Organized under, and subject to, the laws of a State or territory of the United States or the District of Columbia
- Not subject to the requirement to file experts pursuant to Section 15 on Section 1000 of the Securities Exchange Act of 1934
- Not an investment company registered or required to be registered under the Investment Company Act of 1940
- Not ineligible to rely on this exemption under Section 4(a)(6) of the Securities Act as a result of a should function specified in Rule 1(2)(a) of Regulation Crowdfunding
- Has filed with the Commission and provided to investors, in the extent required, the ongoing annual reports required by Regulation Crowdfunding during the two years immediately preceding the filing of this offering statement (or for such shorter period than the issuer was required to file such reports)
- Not a development stage company (but (a)) has no specific business plan or (b)) has indicated that its business plan is to engage in a merger or acquisition with an unidentified company or companies.

INSTRUCTION TO QUESTION 2: If any of these statements are not true, then you are NOT eligible to rely on this exemption under Section 4(a)(6) of the Securities Act.

3. Has the issuer or any of its predecessors previously failed to comply with the ongoing reporting requirements of Rule 202 of Regulation Crowdfunding?

☐ Yes ☑ No

### DIRECTORS OF THE COMPANY

4. Provide the following information about each director (and any persons occupying a similar status or performing a similar function) of the issuer:

| Director | Principal Occupation | Main Employer | Year Joined as Director |
| --- | --- | --- | --- |
| Kirshon Sharma | Founder/CEO | BMSMUSC | 2015 |

For three years of business experience, refer to Appendix D, Director & Officer Stock History.

### OFFICERS OF THE COMPANY

5. Provide the following information about each officer (and any persons occupying a similar status or performing a similar function) of the issuer:

| Officer | Position Held | Year Joined |
| --- | --- | --- |
| Kirshon Sharma | CEO | 2015 |
| Michael Aldow | President | 2015 |
| Michael Aldow | COO | 2015 |

For three years of business experience, refer to Appendix D, Director & Officer Stock History.

INSTRUCTION TO QUESTION 5: The purpose of this document is to provide a report on the business experience of principal principal officers, companies or principal in a meeting of the board and any person who is not only performing similar functions.

### PRINCIPAL SECURITY HOLDERS

6. Provide the name and ownership laws of each person, as of the most recent practicable date, who is the beneficial owner of 20 percent or more of the issuer's outstanding selling equity securities, calculated on the basis of voting power.

| Name of Holder | No. and Class of Securities: First Held | % of Voting Power Prior to Offering |
| --- | --- | --- |
| Kirshon Sharma | 1000000.0 Common Units | 74.11 |

INSTRUCTION TO QUESTION 6: The above information must be provided as of a date that is not more than 10 days prior to the date of filing of this offering statement.

In all cases and voting power, liability of a person for which the person directly or indirectly has or makes the voting power, which includes the person to act as a downside, voting, or such a motion. If the person has the right to require a voting power of such a motion, either will play, including through the exercise of any opinion, or is not a right, the committee of a majority or other party person, or if any person has held the a member of the board's strength, or otherwise or partnership, or otherwise is a member of the board of the a person to whom the voting of the a person is not a right. In the event, it is a member of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of the board of

### BUSINESS AND ANTICIPATED BUSINESS PLAN

7. Describe in detail the business of the issuer and the anticipated business plan of the issuer.

For a description of our business and our business plan, please refer to the attached Appendix A, Business Description & Plan.
INSTRUCTION TO QUESTION 7: My business will provide your company's My business profile as an applicable Appendix, from the Form C to FMP Project. The information will include all information and "and any" information on the official website. All values will be recorded.

This issuer has any information provided to your My business profile will be provided to the SEC in response to this question. As a result, your company will be potentially liable for misstatements and omissions in your profile under the Securities Act of 2000, which requires you to provide material information related to your business and your brand business plan. Please return your My business profile carefully to ensure a provider of material information, in real time or misleading, and does not meet any information that would cause the information to be liable to the public or misleading.

### RISK FACTORS

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment.

In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have

not passed upon the accuracy or adequacy of this document.

The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature.

These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.

8. Discuss the material factors that make an investment in the issuer (calculation or risks):

Our success is dependent on demand from medical artists to work with BYGMusic to grow their current through brand partnerships, events, and analytics. If we are unable to optional artists the business may not succeed.

Our success is dependent on demand from brands to engage BYGMusic artists to advocate and promote their campaigns. If we are unable to secure business with brands, our business may not succeed.

Our BYGMusic platform is at the center of our subscription revenue strategy. If our technology fails or cannot scale we run the risk of slowing growth or losing brand partners and/or artists.

Our BYGMusic platform leverages some aspects of generally accepted marketing practices. Should another company enter the market they would be able to replicate a portion of our offering to artists and brands. If we are unable to compete with new entrants into the market, our business may not succeed.

The BYGMusic model leverages the power of sponsorships to drive brand interest and honorificity a portion of revenue. Should brands and/or the general consensus of marketing professionals cease to value sponsorship and musicians as influencers BYGMusic will face revenue challenges.

The BYGMusic model leverages because brand opportunities for higher Sack tiers. Some of these opportunities are specialized in structure and BYGMusic is unique offering these types of activations to brands. Should brands cease to find these types of activations (speaking BYGMusic would face revenue challenges.

The Company may never receive a future equity financing or elect to convert the Securities upon such future financing. In addition, the Company may never undergo a liquidity event such as a sale of the Company or an IPO. If neither the conversion of the Securities nor a liquidity event occurs, the Purchasers could be left holding the Securities in perpetuity. The Securities have numerous transfer restrictions and will likely be highly illiquid, with no secondary market on which to sell them. The Securities are not equity interests, have no ownership rights, have no rights to the Company's assets or profits and have no voting rights or ability to direct the Company or its actions.

Our future success depends on the efforts of a small management team. The loss of services of the members of the management team may have an adverse effect on the company. There can be no assurance that we will be successful in attracting and retaining other personnel we require to successfully grow our business.

INSTRUCTION: Registration is based generally of measurement in both only the or factors that are target in the issuer. Documents should be entered in the issuer's history and the offering and should not be provided for any additional or the liquidated information. For specific number of risk factors is required to be identified.

## The Offering

### USE OF FUNDS

9. What is the purpose of the offering?

The Company intends to use the net proceeds of this offering for working capital and general corporate purposes, which includes the specific items listed in item 10 below. While the Company expects to use the net proceeds from the Offering in the manner described above, it cannot specify with certainty the particular uses of the net proceeds that it will receive from the Offering. Accordingly, the Company will have broad discretion in using these proceeds.

10. How does the issuer intend to use the proceeds of this offering?

If so, total: $25,000

Use of: $7.4% Sack Platform development-Add features including label ties; 10.7% Artist Operations-Add part-time employee to expand artist outreach; 10.7% Sales and Marketing-Add part time employee to increase lead gen; 10.7% G&A-Expand 3rd party help such as CFO services; 0.5% Wefunder fee

If so, total: $107,000

Use of: $7.4% Sack Platform development-Add features such as Label, Payroll and Artist/Brand Gallery; 10.7% Artist Operations-Add full time employee to expand artists outreach and services; 10.7% Sales and Marketing-Add full time resources to expand lead gen and brand outreach; 10.7% G&A-Add resources to fill CTO and CFO rules; 0.5% Wefunder fee

With increased investment we will be able to achieve expanded goals in feature set, artists relations and sales lead generation. Also, additional funds will enable BYGMusic to leverage brand opportunities which require up-front media investment.

INVESTIGATION: Registration is based generally of measurement in both only the or factors that are target in the issuer. Documents should be entered in the issuer's history and the offering and should not be provided for any additional or the liquidated information. For specific number of risk factors is required to be identified.

### DELIVERY & CANCELLATIONS

11. How will the issuer complete the transaction and deliver securities to the investors?

Back Entity and Investment in the Consumer, Investors will make their investments by investing in interests issued by one or more co-issuers, each of which is a special purpose vehicle ("SPV"). The SPV will invest all amounts it receives from investors in securities issued by the Company. Interests issued to investors by the SPV will be in book entry form. This means that the investor will not receive a certificate representing his or her investment. Each investment will be recorded in the books and records of the SPV. In addition, investors' interests in the investments will be recorded in each investor's "Portfolio" page on the Wefunder platform. All references in this Form C to an investor's investment in the Company (or similar phrases) should be interpreted to include investments in a SPV.

12. How can an investor cancel an investment commitment?

NOTE: Investors may cancel an investment commitment until 48 hours prior to the deadline identified in these offering materials.

The intermediary will notify investors when the target offering amount has been met. If the issuer reaches the target offering amount prior to the deadline identified in the offering materials, it may close the offering early if it provides notice about the new offering deadline at least five business days prior to such new offering deadline (absent a material change that would require an extension

of the offering and reconfirmation of the investment commitments).

If an investor does not cancel an investment commitment before the 48-hour period prior to the offering deadline, the funds will be released to the issuer upon closing of the offering and the investor will receive securities in exchange for his or her investment.

If an investor does not reconfirm his or her investment commitment after a material change is made to the offering, the investor's investment commitment will be cancelled and the committed funds will be returned.

An Investor's right to cancel. An Investor may cancel his or her investment commitment at any time until 48 hours prior to the offering deadline.

If there is a material change to the terms of the offering or the information provided to the investor about the offering and/or the Company, the investor will be provided notice of the change and must re-confirm his or her investment commitment within five business days of receipt of the notice. If the investor does not reconfirm, he or she will receive notifications discussing that the commitment was cancelled, the reason for the cancellation, and the refund amount that the investor is required to receive. If a material change occurs within five business days of the maximum number of days the offering is to remain open, the offering will be extended to allow for a period of five business days for the investor to reconfirm.

If the investor cancels his or her investment commitment during the period when cancellation is permissible, or does not reconfirm a commitment in the case of a material change to the investment, or the offering does not close, all of the investor's funds will be returned within five business days.

Within five business days of cancellation of an offering by the Company, the Company will give each investor notification of the cancellation, disclose the reason for the cancellation, identify the refund amount the investor will receive, and refund the investor's funds.

The Company's right to cancel. The Investment Agreement you will execute with us provides the Company the right to cancel for any reason before the offering deadline.

If the sum of the investment commitments from all investors does not equal or exceed the target offering amount at the time of the offering deadline, no securities will be sold in the offering. Investment commitments will be cancelled and committed funds will be returned.

## Ownership and Capital Structure

### THE OFFERING

10. Describe the terms of the securities being offered.

To view a copy of the SAFE you will purchase, please see

Appendix B, Investor Contracts.

The main terms of the SAFE's are provided below.

The SAFE's. We are offering securities in the form of a Simple Agreement for

Future Equity ("SAFE"),

which provides investors the right to preferred units in the Company ("Preferred

Units"),

when and if the Company sponsors an equity offering that involves Preferred

Units, on the standard terms offered to other investors.

Conversion to Preferred Units. Based on our SAFE's, when we engage in an offering of

equity interests involving preferred units,

Investors will receive a number of shares of preferred units calculated using the

method that results in the greater number of preferred units:

i. the total value of the investor's investment, divided by the price of preferred

units issued to new investors; or

ii. If the valuation for the company is more than $14,000,000.00 (the "Valuation

Cap"), the amount invested by the investor divided by the quotient of

a. the Valuation Cap divided by

b. the total amount of the Company's capitalization at that time.

iii. for investors up to the first $150,000.00 of the securities, investors will receive

a valuation cap of $10,500,000.00.

Additional Terms of the Valuation Cap. For purposes of option (i) above, the Company's

capitalization calculated as of immediately prior to the Equity Financing and

Certificate double-counting in each case calculated on an as-converted to Common

Units (see).

- Includes all shares of Capital Units issued and outstanding;

- Includes all Converting Securities;

- Includes all (i) Issued and Outstanding Options and (ii) Promised Options; and

- Includes the Unissued Option Pool, except that any increase to the Unissued

Option Pool, in connection with the Equity Financing shall only be included to

the extent that the number of Promised Options exceeds the Unissued Option

Pool prior to such increase.

Equitable Events. If the Company has an initial public offering or is acquired by,

merged with, or otherwise taken over by another company or new owners prior to

investors in the SAFE's receiving preferred units, investors will receive:

- proceeds equal to the greater of (i) the Purchase Amount (the "Cash-Out

Amount") or (ii) the amount payable on the number of shares of Common Units

equal to the Purchase Amount divided by the Liquidity Price (the "Conversion

Amount").

Equitable Events. In a Liquidity Event or Dissolution Event, this Sale is intended to

operate the standard nonparticipating Preferred Units. The Investor's right to

receive its Cash-Out Amount is:

1. Junior to payment of outstanding indebtedness and creditor claims, including

commercial claims for payment and convertible promissory notes (to the extent

such convertible promissory notes are not actually or nationally converted into

Capital Units);

2. On par with payments for other Sales and/or Preferred Units, and if the

applicable proceeds are insufficient to permit full payments to the investor and

such other Sales and/or Preferred Units, the applicable proceeds will be

distributed pro rata to the investor and such other Sales and/or Preferred Units

in proportion to the full payments that would otherwise be due; and

3. Senior to payments for Common Units.

### Securities Issued by the SPV

Instead of issuing its securities directly to investors, the Company has decided to

issue its securities to the SPV, which will then issue interests in the SPV to

investors. The SPV has been formed by Wefunder Admin, LLC and is a co-issuer

with the Company of the securities being offered in this offering. The Company's

use of the SPV is intended to allow investors in the SPV to achieve the same

economic exposure, voting power, and ability to invest State and Federal law

rights, and resolve the same disclosures, as if they had invested directly in the

Company. The Company's use of the SPV will not result in any additional fees

being charged to investors.

The SPV has been organized and will be operated for the sole purpose of directly

acquiring, holding and disposing of the Company's securities, will not borrow

money and will use all of the proceeds from the sale of its securities solely to

purchase a single class of securities of the Company. As a result, an investor

investors in the Company through the SPV will have the same relationship to the

Company's securities, in terms of number, denomination, type and rights, as if the

investor invested directly in the Company.

# Voting Rights

If the securities offered by the Company and those offered by the SPV have voting rights, those voting rights may be exercised by the investor or his or her proxy. The applicable proxy is the Lead Investor. If the Proxy (described below) is in effect.

# Proxy to the Lead Investor

The SPV securities have voting rights. With respect to those voting rights, the investor and his, her, or its transferees or assignees (collectively, the "Investor"), through a power of attorney granted by investor in the Investor Agreement, has appointed or will appoint the Lead Investor as the Investor's true and lawful proxy, and attorney (the "Proxy") with the power to act alone and with full power of substitution; on behalf of the investor (a) (i) vote all securities related to the Company purchased in an offering hosted by Wefunder Portal, and (ii) execute, in connection with such voting power, any instrument or document that the Lead Investor determines is necessary and appropriate in the exercise of his or her authority. Such Proxy will be irrevocable by the Investor unless and until a successor lead investor ("Replacement Lead Investor") takes the place of the Lead Investor. Upon notice that a Replacement Lead Investor has taken the place of the Lead Investor, the investor will have five (5) calendar days to revoke the Proxy. If the Proxy is not revoked within the 7-day time period, it shall remain in effect.

# Restriction on Transferability

The SPV securities are subject to restrictions on transfer, as set forth in the Subscription Agreement and the Limited Liability Company Agreement of Wefunder SPC, LLC, and may not be transferred without the prior approval of the Company, on behalf of the SPV.

14. Do the securities offered have voting rights?

☐ Yes
☑ No

15. Are there any limitations on any voting or other rights identified above?

See the above description of the Proxy to the Lead Investor.

16. How may the terms of the securities being offered be modified?

Any provision of this Safe may be amended, waived or modified by written consent of the Company and either:

1. the investor or

A. the majority-in-interest of all then-outstanding Safes with the same "Post-Money Valuation Cap" and "Discount Rate" as this Safe (and Safes lacking one or both of such terms will be considered to be the same with respect to such terms); (2) amended that with respect to clause (1);

A. the Purchase Amount may not be amended, waived or modified in this manner;

B. the consent of the investor and each holder of such Safes must be satisfied upon if not obtained; and

C. such amendment, waiver or modification limits all such holders in the same manner. "Majority-in-interest" refers to the holders of the applicable group of Safes whose Safes have a total Purchase Amount greater than 50% of the total Purchase Amount of all of such applicable group of Safes.

Pursuant to authorization in the Investor Agreement between each Investor and Wefunder Portal, Wefunder Portal is authorized to take the following actions with respect to the investment contract between the Company and an investor:

A. Wefunder Portal may amend the terms of an investment contract, provided that the amended terms are more favorable to the investor than the original terms; and

B. Wefunder Portal may reduce the amount of an investor's investment if the reason for the reduction is that the Company's offering is oversubscribed.

# RESTRICTIONS ON TRANSFER OF THE SECURITIES BEING OFFERED:

The securities being offered may not be transferred by any purchaser of such securities during the one-year period beginning when the securities were issued, unless such securities are transferred:

1. to the issuer;

2. to an accredited investor;

3. to protect an offering registered with the U.S. Securities and Exchange Commission; or

4. to a member of the family of the purchaser or the equivalent, as a team controlled by the purchaser, in a team created by the benefit of a member of the family of the purchaser or the equivalent, as an extension with the death or absence of the purchaser or other similar circumstances.

NOTE: The term "accredited investor" means any person who comes within any of the categories set forth in Rule 501(a) of Regulations 6, or who the seller reasonably believes comes within any of such categories, at the time of the sale of the securities to that person.

The term "member of the family of the purchaser or the equivalent" includes a child, dreadful, grandchild, parent, shopperson, grandparent, spouse or spousal equivalent, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law of the purchaser, and includes adoptive relationships. The term "spousal equivalent" means a cohabitant occupying a relationship generally equivalent to that of a spouse.

# DESCRIPTION OF ISSUER'S SECURITIES

17. What other securities or classes of securities of the issuer are outstanding? Describe the material (name of any other outstanding securities or classes of securities of the issuer):

| Class of Security | Securities (or Amount) Authorized | Securities (or Amount) Outstanding | Voting Rights |
| --- | --- | --- | --- |
| Common Units | 1,317,622 | 1,317,622 | Yes |
| Founder Units | 31,766 | 31,766 | Yes |

Securities Reserved for Issuance upon Exercise or Conversion

Warrants:

Options:

238,882

Describe any other rights:

Founder units are related to special consideration for our first investment of $350K. If these SAFE's convert, they will convert into preferred units which have liquidation preference over common units and are on par with founder units. The company has not issued any preferred units yet.

18. How may the rights of the securities being offered be materially limited, shared or qualified by the rights of any other class of security identified above?

The holders of a majority-in-interest of voting rights in the Company could limit the investor's rights in a material way. For example, those interest holders could vote to change the terms of the agreements governing the Company's operations or cause the Company to engage in additional offerings (including potentially a public offering).

These changes could result in further limitations on the voting rights the investor will have as an owner of equity in the Company, for example by diluting those rights or limiting them to certain types of events or consents.

At the extent applicable, in cases where the rights of holders of convertible debt, SAPES, or other outstanding options or warrants are exercised, or if new awards are granted under our equity compensation plans, an investor's interests in the Company may be diluted. This means that the pro-ratio portion of the Company represented by the investor's securities will decrease, which could also diminish the investor's voting and/or economic rights. In addition, as discussed above, if a majority-in-interest of holders of securities with voting rights cause the Company to issue additional equity, an investor's interest will typically also be diluted.

Based on the risk that an investor's rights could be limited, diluted or otherwise qualified, the investor could lose all or part of his or her investment in the securities in this offering, and may never see positive returns.

Additional risks related to the rights of other security holders are discussed below, in Question 20.

18. Are there any differences not reflected above between the securities being offered and such other class of security of the issuer?

No.

20. How could the exercise of rights held by the principal shareholders identified in Question 6 above affect the overbursts of the securities being offered?

As holders of a majority-in-interest of voting rights in the Company, the **untholders** may make decisions with which the investor disagrees, or that negatively affect the value of the investor's securities in the Company, and the investor will have no recourse to change those decisions. The investor's interests may conflict with those of other investors, and there is no guarantee that the Company will develop in a way that is optimal for or advantageous to the investor.

For example, the **untholders** may change the terms of the operating agreement that the company, or the members of securities issued by the Company, change the management of the Company, and even force our minority holders of securities. The **untholders** may make changes that affect the tax treatment of the Company in ways that are unfavorable to you but favorable to them. They may also vote to engage in new offerings and/or to register certain of the Company's securities in ways that negatively affects the value of the securities the investor owns. Other holders of securities of the Company may also have access to more information than the investor, leaving the investor at a disadvantage with respect to any decisions regarding the securities he or she owns.

The **untholders** have the right to redeem their securities at any time. **Unitholders** could decide to force the Company to redeem their **securities** at a time that is not favorable to the investor and is damaging to the Company, investors and may affect the value of the Company and/or its liability.

In cases where the rights of holders of convertible debt, SAPES, or other outstanding options or warrants are exercised, or if new awards are granted under our equity compensation plans, an investor's interests in the Company may be diluted. This means that the pro-ratio portion of the Company represented by the investor's securities will decrease, which could also diminish the investor's voting and/or economic rights. In addition, as discussed above, if a majority-in-interest of holders of securities with voting rights cause the Company to issue additional units, an investor's interest will typically also be diluted.

21. How are the securities being offered being valued? Include examples of methods for how such securities may be valued by the issuer in the future, including during subsequent corporate actions.

The offering price for the securities offered pursuant to this Form C has been determined arbitrarily by the Company, and does not necessarily bear any relationship to the Company's book value, assets, earnings or other generally accepted valuation criteria. In determining the offering price, the Company did not employ investment banking firms or other outside organizations to make an independent appraisal or evaluation. Accordingly, the offering price should not be considered to be indicative of the actual value of the securities offered hereby.

The initial amount invested in a SAPE is determined by the investor, and we do not guarantee that the SAPE will be converted into any particular number of **units**. As discussed in Question 11, when we engage in an offering of equity interests involving **Preferred Units**, investors may receive a number of **Preferred Units** calculated as either (i) the total value of the investor's investment, divided by the price of the **Preferred Unit** being issued to new investors, or (ii) if the valuation for the company is more than the Valuation Cap, the amount invested divided by the quotient of (a) the Valuation Cap divided by (b) the total amount of the Company's capitalization at that time.

Because there will likely be no public market for our securities prior to an initial public offering or similar liquidity event, the price of the **Preferred Units** that investors will receive, and/or the total value of the Company's capitalization, will be determined by our **management**. Among the factors we may consider in determining the price of **Preferred Units** are prevailing market conditions, our financial information, market valuations of other companies that we believe to be comparable to us, estimates of our business potential, the present state of our development and other factors deemed relevant.

In the future, we will perform valuations of our **units** that take into account, as applicable, factors such as the following:

- - unrelated third party valuations;
- - the price at which we sell other securities in light of the relative rights, preferences and privileges of these securities;
- - our results of operations, financial position and capital resources;
- - current business conditions and projections;
- - the marketability or lack thereof of the securities;
- - the hiring of key personnel and the experience of our management;
- - the introduction of new products;
- - the risk inherent in the development and expansion of our products;
- - our stage of development and material risks related to our business;
- - the likelihood of achieving a liquidity event, such as an initial public offering or a sale of our company given the prevailing market conditions and the nature and history of our business;
- - industry trends and competitive environment;
- - trends in consumer spending, including consumer confidence;
- - overall economic indicators, including gross domestic product, employment, inflation and interest rates; and
- - the general economic outlook.

We will analyze factors such as those described above using a combination of financial and market-based methodologies to determine our business enterprise value. For example, we may use methodologies that assume that businesses operating in the same industry will share similar characteristics and that the Company's value will correlate to those characteristics, and/or methodologies that compare transactions in similar securities issued by us that were conducted in the market.

22. Select are the risks to purchasers of the securities relating to minority ownership in the future?

An investor in the Company will likely hold a minority position in the Company, and thus be limited as to its ability to control or influence the governance and operations of the Company.

The marketability and value of the investor's interest in the Company will depend upon many factors outside the control of the investor. The Company will be managed by its officers and be governed in accordance with the strategic direction and decision-making of its Management, and the investor will have no independent right to name or remove an officer or member of the Management of the Company.

Following the investor's investment in the Company, the Company may sell interests to additional investors, which will dilute the percentage interest of the investor in the Company. The investor may have the opportunity to increase its

investment in the Company in such a transaction, but such opportunity cannot be assured.

The amount of additional financing needed by the Company, if any, will depend upon the maturity and objectives of the Company. The declining of an opportunity or the inability of the investor to make a follow-on investment, or the lack of an opportunity to make such a follow-on investment, may result in substantial dilution of the investor's interest in the Company.

23. What are the risks to purchasers associated with corporate actions, including additional issuances of securities, issuer repurchases of securities, a sale of the issuer or of assets of the issuer or transactions with related parties?

Additional issuances of securities. Following the investor's investment in the Company, the Company may sell interests to additional investors, which will dilute the percentage interest of the investor in the Company. The investor may have the opportunity to increase its investment in the Company in such a transaction, but such opportunity cannot be assured. The amount of additional financing needed by the Company, if any, will depend upon the maturity and objectives of the Company. The declining of an opportunity or the inability of the investor to make a follow-on investment, or the lack of an opportunity to make such a follow-on investment, may result in substantial dilution of the investor's interest in the Company.

Issuer repurchases of securities. The Company may have authority to repurchase its securities from unitholders, which may serve to decrease any liquidity in the market for such securities, decrease the percentage interests held by other similarly situated investors to the investor, and create pressure on the investor to sell its securities to the Company concurrently.

A sale of the issuer or of assets of the issuer. As a minority owner of the Company, the investor will have limited or no ability to influence a potential sale of the Company or a substantial portion of its assets. Thus, the investor will rely upon the executive management of the Company to manage the Company so as to maximize value for unitholders. Accordingly, the success of the investor's investment in the Company will depend in large part upon the skill and expertise of the executive management of the Company. If the Management of the Company authorizes a sale of all or a part of the Company, or a disposition of a substantial portion of the Company's assets, there can be no guarantee that the value received by the investor, together with the fair market estimate of the value remaining in the Company, will be equal to or exceed the value of the investor's initial investment in the Company.

Transactions with related parties. The investor should be aware that there will be occasions when the Company may encounter potential conflicts of interest in its operations. On any issue involving conflicts of interest, the executive management of the Company will be guided by their good faith judgement as to the Company's best interests. The Company may engage in transactions with affiliates, subsidiaries or other related parties, which may be on terms which are not one's length, but will be in all cases consistent with the duties of the management of the Company to its unitholders. By acquiring an interest in the Company, the investor will be deemed to have acknowledged the existence of any such actual or potential conflicts of interest and to have waived any claim with respect to any liability arising from the existence of any such conflict of interest.

24. Describe the material terms of any indebtedness of the issuer

Loan

| Landor | 59A |
| --- | --- |
| Issue date | 08/10/20 |
| Amount | $500,000.00 |
| Outstanding principal plus interest | $86,721.61 as of 09/08/22 |
| Interest rate | 3.75% per annum |
| Maturity date | 01/30/52 |
| Current with payments | Yes |

60A

Loan

| Landor | Lilian Builder/PayPal |
| --- | --- |
| Issue date | 03/09/01 |
| Amount | $24,472.00 |
| Outstanding principal plus interest | $18,101.61 as of 09/15/23 |
| Interest rate | 9.0% per annum |
| Maturity date | 02/09/23 |
| Current with payments | Yes |

PayPal Business Loan

Loan

| Landor | Kerman Sharma |
| --- | --- |
| Issue date | 10/30/21 |
| Amount | $63,429.00 |
| Outstanding principal plus interest | $20,000.00 as of 09/08/22 |
| Interest rate | 0.0% per annum |
| Maturity date | 12/30/21 |
| Current with payments | Yes |

Partners schedule 1301

Loan

| Landor | 59A |
| --- | --- |
| Issue date | 01/02/22 |
| Amount | $87,000.00 |
| Outstanding principal plus interest | $87,000.00 as of 09/08/22 |
| Interest rate | 3.75% per annum |
| Maturity date | 01/01/52 |
| Current with payments | Yes |

60A

Loan

| Landor | Andrew Pedell |
| --- | --- |
| Issue date | 05/18/22 |
| Amount | $46,200.00 |
| Outstanding principal plus interest | $46,200.00 as of 08/31/22 |
| Interest rate | 12.0% per annum |
| Maturity date | 08/01/23 |
| Current with payments | Yes |

Reclassification

INSTRUCTIONS: 1) If you have any questions, please call 1-800-555-1234 or 1-800-555-1235. 2) If you have any questions, please call 1-800-555-1236.

25. What other exempt offerings has the issuer conducted within the past three years?

| Offering Date | Exemption | Security Type | Amount Sold | Use of Proceeds |
| --- | --- | --- | --- | --- |
| 10/2019 | Section 4(a)(2) |  | $50,000 | General operations |
| 3/2020 | Section 4(a)(2) |  | $42,000 | General operations |
| 5/2020 | Section 4(a)(2) |  | $4,000 | General operations |
| 8/2020 | Section 4(a)(2) |  | $50,000 | General operations |
| 8/2020 | Section 4(a)(2) |  | $60,000 | General operations |
| 3/2021 | Section 4(a)(2) |  | $36,000 | General operations |
| 6/2021 | Section 4(a)(2) |  | $100,000 | General operations |
| 6/2022 | Section 4(a)(2) |  | $155,000 | General operations |

26. Why or is the issuer or any entities controlled by or under common control, with the issuer's party by any transaction since the beginning of the issuer's last fiscal year, or any currently processed transaction, where the amount involved exceeds the percent of the aggregate amount of capital issued by the issuer in revenue on Section 4(a)(2) of the Securities Act during the preceding 10-month period, including the amount the issuer owes to raise in the current offering, in which any of the following persons had or is to have a direct or indirect material interest:

1. any director or officer of the issuer

2. any person who is, as of the most recent practicable date, the beneficial owner of 20 percent or more of the issuer's outstanding voting equity securities, calculated on the basis of voting power;

3. if the issuer was incorporated or organized within the past three years, any promotion of the issuer;

4. or (5) any immediate family member of any of the foregoing persons.

☑ Yes

☐ No

For each transaction specify the person, relationship to issuer, nature of interest in transaction, and amount of interest:

| Name | Krishan Sharma |
| --- | --- |
| Amount invested | $63,429.00 |
| Transaction type | Loan |
| Issue date | 10/30/21 |
| Outstanding principal plus interest | $20,000.00 as of 09/06/22 |
| Interest rate | 0.0% per annum |
| Maturity date | 10/30/21 |
| Current with payments | Yes |
| Relationship | Managing Member |
| Name | JBS Enterprises |
| Amount invested | $60,000.00 |
| Transaction type | Loan |
| Issue date | 04/06/22 |
| Outstanding principal plus interest | $0.00 as of 09/06/22 |
| Interest rate | 1.0% per annum |
| Maturity date | 08/27/22 |
| Current with payments | Yes |
| Relationship | Investor |
| Name | Andrew Fostoli |
| Amount invested | $45,200.00 |
| Transaction type | Loan |
| Issue date | 08/18/22 |
| Outstanding principal plus interest | $45,200.00 as of 08/31/22 |
| Interest rate | 10.0% per annum |
| Maturity date | 08/04/22 |
| Current with payments | Yes |
| Relationship | Investor |

INSTRUCTIONS TO QUESTION 24. The terms and conditions set forth below are those set forth in the financial statements, arrangements or otherwise included in the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or the financial statements or

The term "member of the funds" includes any entity, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member

The term "member of the funds" includes any entity, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund, member of the fund

Compare the amount of a related party's interest in any transaction, without regard to the amount of the parties or the interest in the transaction. When it is not practicable to raise the approximate amount of the interest, whether the approximate amount involved in the transaction.

## FINANCIAL CONDITION OF THE ISSUER

27. Does the issuer have an operating history?

☑ Yes

☐ No

28. Describe the financial condition of the issuer, including, to the extent material, liquidity, capital, resources and historical results of operations:

Management's Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion and analysis of our financial condition and results of operations together with our financial statements and the related notes and other financial information included elsewhere in this offering. Some of the information contained in this discussion and analysis, including information regarding the strategy and plans for our business, includes forward-looking statements that involve risks and uncertainties. You should review the "Risk Factors" section for a discussion of important factors that could cause actual results to differ materially from the results described in or implied by the forward-looking statements contained in the following discussion and analysis.

Overview

The following table provides the information in English:

BYGMusic LLC will be the go-to platform for artists to get brand sponsorships. As well as the most successful, BYGMusic will become a dependable source of revenue for all Artists. Think "Spotify of Sponsorship". Forward looking projections cannot be guaranteed.

BYGMusic will be the go-to platform for artists to get brand sponsorships. As well as the most successful, BYGMusic will become a dependable source of revenue for all Artists. Think "Spotify of Sponsorship". Forward looking projections cannot be guaranteed.

#### Milestones

BYGMusic LLC was incorporated in the State of California in April 2016.

Since then, we have:

- ☑ Print revenue with major clients including Disney, Hulu, Onyx and Amazon
- ☑ Average campaign retention rate of 18%
- ☐ Experienced team with 2 Grammy awards, multiple exits, and industry experience at MTV and Voices
- ☐ Experienced team with 3 Grammy awards, multiple exits, and industry experience at MTV and Voices
- ☑ Finalist for Silicon Beach Startup of the Year (2009)
- ☑ Platform MVP Fully Developed

#### Historical Results of Operations

- **Business & Open Space:** For the period ended December 31, 2021, the Company had revenues of $635,749 compared to the year ended December 31, 2020, when the Company had revenues of $725,313. Our gross margin was 36.27% in fiscal year 2021, compared to 39.62% in 2020.
- **Basic:** As of December 31, 2021, the Company had best assets of $50, including $50 in cash. As of December 31, 2020, the Company had $303,812 in total assets, including $303,812 in cash.
- **Net Loss:** The Company has had net losses of $370,850 and net losses of $57,846 for the fiscal years ended December 31, 2021 and December 31, 2020, respectively.
- **Subsidies:** The Company's liabilities totaled $863,536 for the fiscal year ended December 31, 2021 and $825,450 for the fiscal year ended December 31, 2020.

#### Related Party Transaction

Refer to Question 26 of this Form C for disclosure of all related party transactions.

#### Liquidity & Capital Resources

Tendals, the company has been financed with $541,653 in debt, $380,000 in founder contributions, and $360,000 in KBS agreements.

After the conclusion of this Offering, should we let our minimum funding target, our projected runway is 4 months before we need to raise further capital.

We plan to use the proceeds as set forth in this Form C under "Use of Funds". We don't have any other sources of capital in the immediate future.

We will likely require additional financing in excess of the proceeds from the Offering in order to perform operations over the lifetime of the Company. We plan to raise capital in 2 months. Except as otherwise described in this Form C, we do not have additional sources of capital other than the proceeds from the offering. Because of the complexities and uncertainties in establishing a new business strategy, it is not possible to adequately project whether the proceeds of this offering will be sufficient to enable us to implement our strategy. This complexity and uncertainty will be increased if less than the maximum amount of securities offered in this offering is sold. The Company intends to raise additional capital in the future from investors. Although capital may be available for early-stage companies, there is no guarantee that the Company will receive any investments from investors.

#### Runway & Short/Mid Term Expenses

BYGMusic LLC cash in hand is $3,500, as of September 2022. Over the last three months, revenues have averaged $30,000/month, cost of goods sold has averaged $7,000/month, and operational expenses have averaged $27,000/month, for an average burn rate of 107,000 per month. Our intent is to be profitable in 12 months.

Since the last date our financials cover, our brand-direct revenue has dipped over the past two quarters. March saw an increase and April was to 3% of March.

In the next 3-6 months we expect to realize 300M-1M in revenue. Our current pipeline of enterprise brand-direct deals is 2.2M through the end of Q3, 2022. We expect $70K in expenses for the next 4 months.

We are not yet profitable as we are pursuing a growth strategy. Our current financial model projects profitability by Q3 2024 with growth-oriented development and operations investment. We anticipate we will need to raise $250K in order to reach profitability.

BYGMusic is raising a total of $3.0M through RegCF and RegD. We are sourcing a combination of current and new investors. We are finalizing terms with a low Franchise-based investment bank which will help us complete this round. Once a deal is finalized, we will make a formal announcement.

We will cover short-term burn through Wafunder capital already raised, potential additional target investment and receivables.

The projections above are forward looking and cannot be guaranteed.

APPROXIMATE PROVISIONS 26. The discussion must cover each year for which financial statements are provided. For reasons such as price-spending format, the discussion should focus on financial statements and operational, together with other challenges. For certain with an operating format, the discussion should focus on a further financial study and each focus on a presentation of what revenues should cover in the future. This must assume the proceeds of the offering and any other means of providing sources of capital. Discuss how the proceeds from the offering will offer a liquidity, whether investing more funds and any other additional funds in our country or the underlying the business, and how special, the lower anticipated funds to establish cash. Describe the other available sources of capital in the business, such as those of itself or capital contributions to shareholders. References on this Form C to the Question 26 and those instructions refer to the report and to the document, forms.

## FINANCIAL INFORMATION

25. Include financial statements covering the two most recently completed fiscal years or the period(s) since inception, if needed.

Refer to Appendix C, Financial Statements

K. Krishan Sharma, jointly true

(1) the financial statements of BYGMusic LLC included in this Form are true and complete in all material respects; and
(2) the financial information of BYGMusic LLC included in this Form reflects accurately the information reported on the tax return for BYGMusic LLC filed for the most recently completed fiscal year.

Krishan Sharma
Founder/CCO

# STAKEHOLDER ELIGIBILITY

☑ I, both respect to the issues, any prosecution of the issues, any effective issues, any director, officer, general partner or managing member of the issues, any beneficial owner of 20 percent or more of the issue's outstanding voting equity securities. Any promoter connected with the issues in any capacity at the time of such sale, any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with such sale of securities, or any general partner, director, officer or managing member of any such solicitor, prior to May 15, 2019.

(1) Has any such person been convicted, within 15 years (or five years, in the case of issues, their predecessors and affiliated issuers) before the filing of this offering statement, of any felony or misdemeanor:

i. In connection with the purchase or sale of any security? ☐ Yes ☑ No

ii. Involving the making of any false filing with the Commission? ☐ Yes ☑ No

iii. Inring out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities? ☐ Yes ☑ No

(2) Is any such person subject to any order, judgment or decree of any court of competent jurisdiction, entered within five years before the filing of the information required by Section 4A(2C) of the Securities Act that, at the time of filing of this offering statement, remains or expires such person from engaging or continuing to engage in any product or practice:

i. In connection with the purchase or sale of any security? ☐ Yes ☑ No

ii. Involving the making of any false filing with the Commission? ☐ Yes ☑ No

iii. Inring out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer, investment adviser, funding portal or paid solicitor of purchasers of securities? ☐ Yes ☑ No

(3) Is any such person subject to a free order of a state securities commission (or an agency or officer of a state performing the functions), a state authority that supersises or overstates, barns, savings associations or credit unions a state insurance commission (or an agency or officer of a state performing the functions), an appropriate federal banking agency, the U.S. Community Futures Trading Commission, or the National Credit Union Administration that:

i. at the time of the filing of this offering statement bans the person from:

A. association with an entity regulated by such commission, authority, agency or

officer? ☐ Yes ☑ No

B. engaging in the business of securities, insurance or banking? ☐ Yes ☑ No

C. engaging in savings association or credit union activities? ☐ Yes ☑ No

ii. constitutes a final order based on a violation of any law or regulation that prohibits fraudulent, manipulative or deceptive conduct and for which the order was entered within the 15-year period ending on the date of the filing of this offering statement? ☐ Yes ☑ No

(4) Is any such person subject to an order of the Commission entered pursuant to Section 10(a) or 10(b)(c) of the Exchange Act or Section 2002(a) or (c) of the Investment Advisers Act of 1940 that, at the time of the filing of this offering statement:

i. suspends or revives such person's registration as a broker, dealer, municipal securities dealer, investment adviser or funding portal? ☐ Yes ☑ No

ii. above. In addition, for the activities, functions or operations of such person?

☐ Yes ☑ No

iii. bans such person from being associated with any entity or from participating in the offering of any entity exists? ☐ Yes ☑ No

(5) Is any such person subject to any order of the Commission entered within five years before the filing of this offering statement that, at the time of the filing of this offering statement, enters the person to cease and desist from committing or causing a violation or failure violation of:

i. any retainer-based tort-fiscal provision of the federal securities laws, including without limitation Section 10(a)(1) of the Securities Act, Section 1000 of the Exchange Act, Section 10(a)(1) of the Exchange Act and Section 2001 of the Investment Advisers Act of 1940 or any other sale or regulation thereunder? ☐ Yes ☑ No
ii. Section 5 of the Securities Act? ☐ Yes ☑ No

(6) Is any such person suspended or expelled from merchandise in, or suspended or towed from association with a member of, a registered national securities exchange or a registered national or affiliated securities association for any act or omission to act constituting conduct inconsistent with just and equitable principles of trade?

☐ Yes ☑ No

(7) Has any such person filed (or a registered or issued), or was any such person or was any such person named as an underwriter in, any registration statement or Regulation A offering statement filed with the Commission that, within five years before the filing of this offering statement, was the subject of a written order, stop order, or order suspending the Regulation A exemption, or is any such person, at the time of such filing, has subject of an investigation or proceeding to determine whether a stop order or suspension order should be issued?

☐ Yes ☑ No

(8) Is any such person subject to a United States Postal Service false representation order entered within five years before the filing of the information required by Section 4A(2C) of the Securities Act, or is any such person, at the time of filing of this offering statement, subject to a temporary restraining order or preliminary injunction with respect to conduct allegedly the United States Postal Service to constitute a scheme in device for obtaining money or property through the mail by means of false representations?

☐ Yes ☑ No

If you would have answered "No" to any of these questions had the conviction, order, judgment, decree, suspension, expulsion or bar covered or been issued after May 15, 2019, then you are NOT eligible to rely on this exemption under Section 4A(2B) of the Securities Act.

INSTRUCTIONS: The information contained in this document is for the information contained in this document. The information contained in this document is for the information contained in this document. The information contained in this document is for the information contained in this document.

The information contained in this document is for the information contained in this document. The information contained in this document is for the information contained in this document.

# OTHER MATERIAL INFORMATION

2. In addition to the information expressly required to be included in this form, include:

i. (1) any other material information presented to investors; and

ii. (2) such further material information, if any, as may be necessary to make the required statements, in the light of the circumstances under which they are made, not misleading.

The Lead Investor. As described above, each investor that has entered into the Investor Agreement will grant a power of attorney to make voting decisions on behalf of that investor to the Lead Investor (the "Proxy"). The Proxy is irrevocable unless and until a Successor Lead Investor takes the place of the Lead Investor, in which case the Investor has a five (5) calendar day period to revoke the Proxy. Pursuant to the Proxy, the Lead Investor or his or her successor will make voting decisions and take any other actions in connection with the voting on Investors' behalf.

The Lead Investor is an experienced investor that is chosen to act in the role of Lead Investor on behalf of Investors that have a Proxy in effect. The Lead Investor will be chosen by the Company and approved by Wefunder Inc. and the identity of the initial Lead Investor will be disclosed to Investors before Investors make a final investment decision to purchase the securities related to the Company.

The Lead Investor can quit at any time or can be removed by Wefunder Inc. for cease or pursuant to a vote of investors as detailed in the Lead Investor Agreement. In the event the Lead Investor quits or is removed, the Company will choose a Successor Lead Investor who must be approved by Wefunder Inc. The identity of the Successor Lead Investor will be disclosed to Investors, and those

that have a Proxy in effect can choose to either leave such Proxy in place or revoke such Proxy during a 5-day period beginning with notice of the replacement of the Lead Investor.

The Lead Investor will not receive any compensation for his or her services to the SPV. The Lead Investor may receive compensation if, in the future, Wefunder Advisors LLC forms a fund ("Fund") for accredited investors for the purpose of investing in a non-Regulation Crowdfunding offering of the Company. In such an circumstances, the Lead Investor may act as a portfolio manager for that Fund (and as a supervised person of Wefunder Advisors) and may be compensated through that role.

Although the Lead Investor may act in multiple roles with respect to the Company's offerings and may potentially be compensated for some of its services, the Lead Investor's goal is to maximize the value of the Company and therefore maximize the value of securities issued by or related to the Company. As a result, the Lead Investor's interests should always be aligned with those of investors. It is, however, possible that in some limited circumstances the Lead Investor's interests could diverge from the interests of investors, as discussed in section 8 above.

Investors that wish to purchase securities related to the Company through Wefunder Portal must agree to give the Proxy described above to the Lead Investor, provided that if the Lead Investor is replaced, the Investor will have a 5-day period during which he or she may revoke the Proxy. If the Proxy is not revoked during this 5-day period, it will remain in effect.

Tax Filings, in order to complete necessary tax filings, the SPV is required to include information about each investor who holds an interest in the SPV, including each investor's taxpayer identification number ("TIN") (e.g., social security number or employer identification number). To the extent they have not already done so, each investor will be required to provide their TIN within the earlier of (i) two (2) years of making their investment or (ii) twenty (20) days prior to the date of any distribution from the SPV. If an investor does not provide their TIN within this time, the SPV reserves the right to withhold from any proceeds otherwise payable to the Investor an amount necessary for the SPV to satisfy its tax withholding obligations as well as the SPV's reasonable estimation of any penalties that may be charged by the IRS or other relevant authority as a result of the investor's failure to provide their TIN. Investors should carefully review the terms of the SPV Subscription Agreement for additional information about tax filings.

INSTRUCTIONS TO QUESTION 10: A information is provided to investors in a format similar to other terms set forth in the following table. The information is provided in the following table:

## ONGOING REPORTING

10. The issuer will file a report electronically with the Securities & Exchange Commission annually and post the report on its website, no later than 100 days after the end of each fiscal year covered by the report.

10. Once posted, the annual report may be found on the issuer's website at: https://byggnsoc.com/Invest

The issuer must continue to comply with the ongoing reporting requirements until:

1. the issuer is required to file reports under Exchange Act Sections 17(a) or 17(b);
2. the issuer has filed at least one annual report and has fewer than 300 holders of record;
3. the issuer has filed at least three annual reports and has total use to that do not exceed $10 million;
4. the issuer or another party purchases or repurchases all of the securities issued pursuant to Section 10.10(b), including any payment on full-time securities or any complete redemption of redeemable securities, or the issuer liquidates or discloses as nonreleases with any law.

## APPENDICES

Appendix A: Business Description & Plan

Appendix B: Investor Contracts

SPV Subscription Agreement - Early Bird
Early Bird SAFE (Simple Agreement for Future Equity)
SPV Subscription Agreement
SAFE (Simple Agreement for Future Equity)

Appendix C: Financial Statements

Financials

Appendix D: Director & Officer Work History

Krishan Sharma
Michael Alden

Appendix E: Supporting Documents

the_communications_96076_053410.pdf
BygPnsc_-_Operating_Agreement_051022_FNL3_1.pdf

## Signatures

Excessed endorsements or omissions of facts constitute federal criminal violations. See 18 U.S.C. 1002

The following documents will be filed with the SEC:

Cover Page XML

Offering Statement (this page)

Appendix A: Business Description & Plan

Appendix B: Investor Contracts

SPV Subscription Agreement - Early Bird
Early Bird SAFE (Simple Agreement for Future Equity)
SPV Subscription Agreement
SAFE (Simple Agreement for Future Equity)

Appendix C: Financial Statements

Financials

Appendix D: Director & Officer Work History

Krishan Sharma

Michael Alden

Appendix E: Supporting Documents

the_communications_96076_053410.pdf

BygMusic_-_Operating_Agreement_051022_PNL3__1_.pdf

Pursuant to the requirements of Sections 4(a)(6) and 4A of the Securities Act of 1933 and Regulation Crowdfunding (§ 227.100 et seq.), the issuer certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form C and has duly caused this Form to be signed on its behalf by the duly authorized undersigned.

BYGMUSIC LLC

By

Krish Sharma

CEO

Pursuant to the requirements of Sections 4(a)(6) and 4A of the Securities Act of 1933 and Regulation Crowdfunding (§ 227.100 et seq.), this Form C and Transfer Agent Agreement has been signed by the following persons to the capacities and on the dates indicated.

Krish Sharma

CEO

1/31/2023

The Form C must be signed by the issuer, its principal executive officer or officers, its principal financial officer, its committee or principal accounting officer and at least a majority of the board of directors or persons performing similar functions.

I authorize Wefunder Portal to submit a Form C to the SEC based on the information I provided through this online form and my company's Wefunder profile.

As an authorized representative of the company, I appoint Wefunder Portal as the company's true and lawful representative and attorney-in-fact, in the company's name, place and stead to make, execute, sign, acknowledge, swear to and file a Form C on the company's behalf. This power of attorney is coupled with an interest and is irrevocable. The company hereby waives any and all defenses that may be available to contest, negate or disaffirm the actions of Wefunder Portal taken in good faith under or in reliance upon this power of attorney.

**Attachment 2:** `document_2.pdf`

INVEST IN BYGMUSIC

# Connecting advertisers with passionate music fans

PITCH VIDEO INVESTOR PANEL

![img-0.jpeg](img-0.jpeg)

bygmusic.com Los Angeles CA

Technology Music

LEAD INVESTOR

Sunil Sharma Visiting Scholar

I have known Krish for a very long time. He understands music and has been in the industry all his life, receiving three Grammys. His novel idea is to create an advertising marketplace that uses the largest segment of the music universe - independent artists who do not have arrangements with major labels - to bring product brands to the people. BYGMusic is in the process of establishing and developing a new modality for advertising and brand loyalty in the digital age.

Invested $25,000 this round

# Highlights

1. Post revenue with major clients including Disney, Hulu, Crocs and Amazon
2. Average campaign retention rate of 18%
3. Unparalleled network of brands and music stakeholders, including Roc Nation and Atlantic Records
4. Experienced team with 3 Grammy awards, multiple exits, and industry experience at MTV and Viacom
4. Experienced team with 3 Grammy awards, multiple exits, and industry experience at MTV and Viacom
5. Finalist for Silicon Beach Startup of the Year (2019)
6. Platform MVP Fully Developed

# Our Team

Krish Sharma CEO

25 years in music as a producer, recording engineer, and business owner. 3-time Grammy winner

with multiple platinum albums. Studio clients include major artists such as the Rolling Stones and Ziggy Marley.

Michael Alden President & COO

4x CEO with successful exits. Extensive experience leading growth, revenue, and operations management for SaaS startups. Cross-functional experience as CEO, President, Advisor and Operations & Strategy Executive.

Brendan Shepherd Head of Brand Partnerships

18-years of experience in ad sales at companies like MTV. Former VP at Viacom with 360 sales leadership - TV, digital and social media agency and client background.

# Pitch

![img-1.jpeg](img-1.jpeg)

# Did You Know: The Number of Independent Artists Have Grown By 417% Since 2003

A common misconception about the music industry is that; an artist is either a world-famous, arena-touring rockstar or just a commoner playing in a dive in between their normal jobs. But let's have a look at another reality.

A report by MIDiA Research suggests that independent artists have generated more than $643 million in 2018 alone, making a straight 35% jump from the year before.

![img-2.jpeg](img-2.jpeg)

Source: Midia Research Music Model (08/18)

Another report by the US Bureau of Labor Statistics says that the number of independent artists has grown by 417% since 2003 and the number is expected to go off the roof, courtesy of the rise of social media.

US Artist Employment (2003-2020)

Percentage Breakdown of Employed Artists in US

![img-3.jpeg](img-3.jpeg)

Source: US Bureau of Labor Statistics (2003-2020)

![img-4.jpeg](img-4.jpeg)

## We empower emerging artists to make music that the world needs

Quick Fact: Musicians are major contributors to a vibrant $8 billion creator marketplace. Despite the uptick in numbers of musicians on such platforms, 99% of independent artists lack access to the unique resources that are indispensable to grow their careers. That's where BYGMusic comes into play.

We connect emerging artists and future prodigies to sponsors and have helped them generate $1.5million in sponsorship revenue. With an average campaign engagement rate of 18% (9x benchmark) and 300% YoY growth in revenue in 2020, we are now expanding our solution with a SaaS subscription that will provide the systems, tools, and revenue to support artists' careers.

## BYG started out by connecting emerging artists with sponsorship revenue.

We've helped our artists pocket $1.5M.

![img-5.jpeg](img-5.jpeg)

Artist submits content for approval

Offered for $300,000

Qty Effective Feb 16 - Mar 31

Offer expires to 8 days

Rebook for participation

**Marketer's approve conten & artist gets paid directly**

Request sent for approval

Check your email and notifications on this app for next steps.

BYGMusic is revolutionizing the way artists earn money and grow their careers so that they can make the music the world needs.

## Where it started

Coming from a love of music and a belief in the power of good music, BYGMusic's founder, Krish Sharma, established this company in Los Angeles, California to connect independent artists with brands and in turn bring those brands directly to fans. 99% of artists lack access to revenue, data, and technology to upscale their careers. BYGMusic was launched to bridge the gap between budding independent artists and brands and help them both flourish within the creator economy.

## Bringing Good Music to Millions

Since our inception, BYGMusic has helped our artists pocket $1.5 million in revenue. Going forward, we are expanding by building the first mission-driven SaaS Solution for Musicians to access next-gen revenue and resources.

Our track record with major stakeholders will drive meaningful artist growth. Emerging artists will be drawn in by our unparalleled network of brands and music stakeholders, which has generated $3.2M in revenue to date.

## Product Roadmap

With software development already in progress, BYGMusic can immediately ramp up development after securing funds.

![img-6.jpeg](img-6.jpeg)

Forward looking projections cannot be guaranteed.

We project to onboard 75,000 artists by the end of 2023, while seeding the platform with thousands of sponsorship gigs.

This is our road map to become the **Largest Network of Independent Artists and Their Fans**. Over time, this platform transforms into an interconnected network of music artists - and music fans. This network will further culminate into our next step in becoming the **Universal Platform for Artists & Stakeholders to Connect** - Where any stakeholder can easily access and leverage

our network at scale - for content distribution, advertising monetization, and beyond.

## Why Invest?

BYGMusic is on the cusp to bring about a major disruption in the music industry with a never-before platform that will not only empower independent artists but will also help brands get the visibility they desire among their audience. We will be the first to market to capitalize on this white space.

## Competitive Analysis

With software development already in progress, BYGMusic can immediately ramp up development after securing funds.

![img-7.jpeg](img-7.jpeg)

We are raising this round to finish building our subscription SaaS infrastructure to scale and reach 35K paid subscribers by Q4 2022.

## Investment Opportunity

![img-8.jpeg](img-8.jpeg)

6.5% of funds raised will go towards the Wefunder intermediary fee.

We are building a home for 99% of brand-deprived independent artists. Come join us now!

CAMPAIGN STRATEGY BY

[LOGO]

VET-TLTM

KIWITECH

WWW.KIWITECH.COM

**Attachment 3:** `document_3.pdf`

# **Subscription Agreement**

**[INVESTMENT AMOUNT]**

**[INVESTMENT DATE]**

**BYGMusic I** (the "SPV"), a series of Wefunder SPV, LLC (the "LLC"), is a special purpose vehicle that will invest all of its assets in securities issued by **BYGMusic LLC** (the "Company"). By making an investment in the SPV through the Wefunder website, I understand and agree to the representations set forth below.

I have reviewed the following information and documents in connection with this Subscription Agreement:

1. The information on the Wefunder website about the Company, I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that none of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC, nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
2. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
3. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "**LLC Agreement**"), which sets forth certain specific terms of the SPV;
4. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
5. The LLC Agreement, which sets forth other terms applicable to each SPV;
6. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
7. The Wefunder Investor Agreement; and
8. The Wefunder Terms of Service.

**By making an investment in the SPV through the Wefunder website, I agree to be bound by this Subscription Agreement and the terms of the other agreements listed above with respect to my investment in the SPV.**

Subscription Agreement

# SCOPE OF AGREEMENT AND INVESTOR ELIGIBILITY REPRESENTATIONS

A. This agreement ("Agreement") applies to each investment in a series ("SPV") of Wefunder SPV, LLC (the "LLC"). Each series is a separate pool of assets from every other series. Each SPV will invest all of its assets in securities issued by a single company ("Company") as set forth in the applicable series appendix ("Series Appendix") to the Wefunder SPV, LLC limited liability company agreement ("LLC Agreement"). The terms of the Company securities to be purchased by the SPV are summarized in an appendix ("Terms Appendix") attached to this Agreement.

B. Each SPV is formed by and operated by Wefunder Admin, LLC on behalf of the Company in whose securities that SPV invests.

C. Important information about the Company, about the related SPV, and more generally about investments through the Wefunder website, is available through the Wefunder website. The Investor should review that information, and all relevant Company Information (as defined below), carefully before making an investment in any SPV.

D. Each SPV will offer membership interests ("Interests") in that SPV pursuant to Regulation Crowdfunding under the U.S. Securities Act of 1933, as amended (the "Securities Act").

E. You hereby agree that each time you make an investment in any SPV, you will be deemed to have entered into this Agreement, and will be deemed to have made each representation and covenant contained in this Agreement.

F. Except as the context otherwise requires, any reference in this Subscription Agreement to:

1. a "SPV" shall mean "The LLC acting solely on behalf of and for the account of the SPV";

2. "Investor" and "you" shall mean a person (whether individually, jointly with another person, or through his or her individual retirement account) who has agreed to invest, or has invested, in any SPV; and

3. "Company Information" means:

a. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC (together, the "Wefunder entities," nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
b. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
c. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;
d. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
e. The LLC Agreement, which sets forth other terms applicable to each SPV;
f. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
g. The Wefunder Investor Agreement; and
h. The Wefunder Terms of Service.

INVESTOR'S REPRESENTATIONS AND COVENANTS

# 1. Investor's Review of Information and Investment Decision

1.1. The Investor has carefully read and understands the Company Information. The Investor acknowledges that it has made an independent decision to invest indirectly in the Company through the SPV and that, in making its decision to invest in a SPV, the Investor has relied solely upon the Company Information, any other relevant information on the Wefunder website, and independent investigations made by the Investor. The Investor understands that no representations or warranties have been made to the Investor by the LLC, the relevant SPV, any administrator appointed from time to time with respect to the SPV (the "Administrator"), any lead investor appointed from time to time with respect to the SPV (the "Lead Investor"), or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them regarding the Company.

1.2. The Investor has been provided an opportunity to request additional information concerning the Company and the offering through the Ask A Question feature on wefunder.com.

1.3. The Investor understands and agrees that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC, any of their affiliates, nor any director, manager, officer, shareholder, member, employee or agent of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or any of their affiliates (each, a "Wefunder Party," and collectively, "Wefunder Parties") shall be liable in connection with any information or omission of information contained in materials prepared or supplied by the Company. Such materials may include, but are not limited to, information provided by the Company in the Form C related to the offering, information available through the Wefunder website, and materials distributed to the Investor by the SPV on behalf of a Company.

1.4. The Investor represents and agrees that no Wefunder Party has recommended or suggested any investment in a SPV, or any investment related to a Company, to the Investor.

1.5. Investor understands that no Wefunder Party is an adviser to Investor, and that Investor is not an advisory or other client of any Wefunder Party.

1.6. The Investor is not relying on any Wefunder Party or any other person or entity with respect to the legal, accounting, business, investment, pension, tax or other economic considerations involved in this investment other than the Investor's own advisers that are not affiliated with any of the foregoing persons.

1.7. The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of the Investor's investment in the SPV and is able to bear such risks. The Investor has obtained, in the Investor's judgment, sufficient information to evaluate the merits and risks of such investment. The Investor has evaluated the risks of investing in the SPV, understands there are substantial risks of loss incidental to the purchase of an Interest and has determined that the Interest is a suitable investment for the Investor and consistent with the general investment objectives of the Investor.

# 2. Investor's Representations Related To Investment in a SPV.

2.1. The Investor is acquiring the Interest for its own account, for investment purposes only and not with an intent to resell or distribute the Interest (or any distributions received from the SPV in whole or in part), and the Investor agrees that it will not sell or otherwise transfer the Interest unless in compliance with Regulation Crowdfunding and other applicable securities laws, and with the terms and conditions of this Agreement.

2.2. The Investor's investment in the Interest is consistent with the investment purposes, objectives and cash flow requirements of the Investor and will not adversely affect the Investor's overall need for diversification and liquidity.

2.3. The Investor has all requisite power, authority and capacity to acquire and hold the Interest and to execute, deliver and comply with the terms of each of the instruments required to be executed and delivered by the Investor in connection with the Investor's subscription for the Interest, including without limitation this Subscription Agreement, and such execution, delivery and compliance does not conflict with, or constitute a default under, any instruments governing the Investor, any law, regulation or order, or any agreement or other undertaking to which the Investor is a party or by which the Investor may be bound. If the Investor is an entity, the person executing and delivering each of such instruments on behalf of the Investor has all requisite power, authority and capacity to execute and deliver such instruments, and, upon request by the SPV, will furnish to the SPV a true and correct copy of any instruments governing the Investor, including all amendments thereto. The signature on each of such instruments is genuine and each of such instruments constitutes a legal, valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms.

2.4. The Wefunder Parties are each hereby authorized and instructed to accept and execute any instructions in respect of the Interest given by the Investor in written or electronic form. The

Wefunder Parties may rely conclusively upon and shall incur no liability in respect of any action take upon any notice, consent, request, instructions or other instrument believed in good faith to be genuine or to be signed by properly authorized persons of the Investor.

2.5. Pursuant to the requirements of Treas. Reg. § 301.6109-1(c), the Investor has provided, or agrees to provide upon the earlier of (i) two years of an acquisition of an Interest or (ii) twenty (20) days before any distribution is to be made from the SPV, his, her or its taxpayer identification number (e.g., social security number or employer identification number) under penalties of perjury and has or will attest that the Internal Revenue Service has not notified the Investor that he, she or it is subject to backup withholding.

### 3. The Manager Has The Right To Reject Any Subscription, In Whole Or In Part.

3.1. The Investor understands that the SPV will not register as an investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"), nor will it make a public offering of its securities within the United States.

3.2. The Investor understands that the value of all investments in any SPV made through individual retirement accounts ("IRAs") must be less than 25% of the value of the SPV's assets.

3.3. If the Investor is investing in a SPV through an employee benefit plan of any kind, including an individual retirement account (the "Plan"), and an individual or entity (the "Fiduciary") has entered into this Agreement on behalf of the Plan, the Fiduciary hereby makes the following representations, warranties, and covenants:

i. The Fiduciary is a fiduciary of the Plan who is authorized to invest Plan assets or is acting at the direction of a Plan fiduciary authorized to invest Plan assets. The Fiduciary has determined that an investment in the Fund is consistent with the Fiduciary's responsibilities to the Plan under Employee Retirement Income Security Act of 1974, as amended ("ERISA") or other applicable law, and is qualified to make such investment decision. The Fiduciary is authorized to make all representations, covenants and agreements set forth in this Agreement about and on behalf of the Investor, and the Fiduciary hereby agrees that, except for the representations, covenants and agreements contained in this section 3.3, all representations, covenants and agreements contained in this Agreement are made on behalf of the Investor who is investing through the Plan.

ii. The execution and delivery of this Subscription Agreement, and the investment contemplated hereby has been duly authorized by all appropriate and necessary parties pursuant to the provisions of the instrument or instruments governing the Plan and any related trust; and (B) will not violate, and is not otherwise inconsistent with, the terms of such instrument or instruments.

iii. The Fiduciary acknowledges that the assets of the Fund will be invested in accordance with the Company Information related to that Fund.

iv. The Plan's purchase and holding of an Interest will not constitute a non-exempt transaction prohibited under ERISA, Section 4975 of the Internal Revenue Code (the "Code"), or any similar laws or other federal, state, local, foreign or other laws or regulations applicable to the Plan and its investments. None of the Wefunder entities nor any of their affiliates, agents, or employees. (A) exercises any authority or control with respect to the management or disposition of assets of the Plan used to purchase an Interest, (B) renders investment advice for a fee (pursuant to an agreement or understanding that such advice will serve as a primary basis for investment decisions and that such advice will be based on the particular investment needs of the Plan), with respect to such assets of the Plan, or has the authority to do so, or (C) is an employer maintaining or contributing to, or any of whose employees are covered by, the Plan.

v. The Fiduciary understands and agrees to the fee arrangements described in the Company Information.

vi. The Fiduciary understands and agrees that, to prevent the assets of the SPV from being treated as "plan assets" for purposes of ERISA and Section 4975 of the Code, the Investor may be prohibited from purchasing or acquiring an Interest or may be required to redeem its Interest or a portion thereof.

3.4. The Investor acknowledges that the SPV and any Administrator, on the SPV's behalf, may not accept any investment from an Investor if the Investor cannot truthfully make the representations contained herein.

### 4. The Correctness And Accuracy Of All Information Provided By Investor To The LLC Or The

SPV.

4.1. The Investor confirms that all information and documentation provided to the LLC, the SPV, and any Administrator, including, but not limited to, all information regarding the Investor's identity, taxpayer identification number, the source of the funds to be invested in the SPV, and the Investor's eligibility to invest in offerings under Regulation Crowdfunding, is true, correct and complete. Should any such information change or no longer be accurate, the Investor agrees and covenants that they will promptly notify the Wefunder Parties of such changes via the wefunder.com platform. The Investor agrees and covenants that he, she or it will maintain accurate and up-to-date contact information (including email and mailing address) on the wefunder.com platform and will promptly update such information in the event it changes or is no longer accurate.

4.2. The representations, warranties, agreements, undertakings and acknowledgments made by the Investor in this Subscription Agreement will be relied upon by the LLC, the SPV, and any Administrator in determining the Fund's compliance with federal and state securities laws, and shall survive the Investor's admission as a Member of the SPV.

4.3. All information that the Investor has provided to the LLC, the SPV, and any Administrator concerning the knowledge and experience of financial, tax and business matters of the Investor is correct and complete.

# 5. The Wefunder Parties' Right To Use Investor Information.

5.1. The Investor agrees and consents to the Wefunder Parties, their delegates and their duly authorized agents and any of their respective related, associated or affiliated companies obtaining, holding, using, disclosing and processing the Investor's data:

a. to facilitate the acceptance, management and administration of the Investor's subscription for an interest on an on-going basis;

b. for any other specific purposes where the Investor has given specific consent to do so;

c. to carry out statistical analysis, market research, and tracking of investment performance over time;

d. to comply with legal or regulatory requirements applicable to the SPV and any Administrator or the Investor, including, but not limited to, in connection with anti-money laundering and similar laws;

e. for disclosure or transfer to third parties including the Investor's financial adviser (where appropriate), regulatory bodies, auditors, technology providers or to the SPV, any Administrator, any Lead Investor, and their delegates or their duly appointed agents and any of their respective related, associated or affiliated companies for the purposes specified above;

f. if the contents thereof are relevant to any issue in any action, suit or proceeding to which the LLC, the SPV, any Administrator, any Lead Investor, or their affiliates are a party or by which they are or may be bound;

g. for other legitimate business of the LLC, the SPV, any Administrator, or any Lead Investor.

5.2. The Investor acknowledges and agrees that it will provide additional information or take such other actions as may be necessary or advisable for the SPV or any Administrator (in the sole judgment of the SPV and/or any Administrator) to comply with any disclosure and compliance policies, related legal process or appropriate requests (whether formal or informal) or otherwise.

5.3. The Investor agrees and consents to disclosure by the LLC, the SPV and any of their agents, including any Administrator or any Lead Investor, to relevant third parties of information pertaining to the Investor in respect of disclosure and compliance policies or information requests related thereto. Without limiting the generality of the foregoing, the Investor agrees that information about the Investor may be provided to the Company in whose securities a SPV will or proposes to invest.

5.4. The Investor authorizes the LLC, the SPV, any Administrator, and each SPV service provider to disclose the Investor's nonpublic personal information to comply with regulatory and contractual requirements applicable to the SPV and its investments. Any such disclosure shall be permitted notwithstanding any privacy policy or similar restrictions regarding the disclosure

of the Investor's nonpublic personal information.

# 6. Key Risk Factors

6.1. The Investor understands that investment in a SPV may involve a complete loss of the Investor's investment. In this regard, the Investor understands that such venture investments involve a high degree of risk, and that many or most venture company investments lose money. An Investor may ultimately receive cash, securities, or a combination of cash and securities (and in many cases nothing at all). If the Investor receives securities, the securities may not be publicly traded, and may not have any significant value.

6.2. The Investor understands and agrees that the Interests are subject to restrictions on transfer and cannot be redeemed. Instead, an Investor typically must hold his or her Interest in a SPV until the SPV has sold or otherwise disposed of its investments and the SPV distributes its investments to the Investors in the SPV (a "Liquidation Event"). An Investor typically will not receive any distributions until such a Liquidation Event (and may not receive anything even upon a Liquidation Event), which may not occur for many years. The Investor must therefore bear the economic risk of holding their investment for an indefinite period of time.

6.3. The Investor understands and agrees that the Interests: (a) have not been registered under the Securities Act or any other law of the United States, or under the securities laws of any state or other jurisdiction, and therefore an Interest cannot be resold, pledged, assigned or otherwise disposed of unless it is so registered or an exemption from registration is available; and (b) can only be transferred as permitted under Regulation Crowdfunding and subject to the terms and conditions of this Agreement.

6.4. The Investor understands that no guarantees have been made to the Investor about future performance or financial results of the SPV, and an investment in the SPV may result in a gain or loss upon termination or liquidation of the SPV. It is possible that the investors in a SPV will have "phantom income," which could require them to pay taxes on their investment in a SPV even though the SPV does not distribute any income (or does not distribute sufficient income to pay the taxes).

6.5. The Investor understands and agrees that the SPV was formed by and is operated by Wefunder Admin, LLC on behalf of the Company. Investors will have no right to manage or influence the management of any SPV or of the LLC.

6.6. The Investor understands and agrees that the Company may appoint a Lead Investor and that, if appointed, pursuant to a power of attorney granted by the Investor in the Investor Agreement, the Lead Investor will exercise voting authority on behalf of the Investor with respect to the SPV securities the Investor owns.

6.7. The Investor represents that he or she has read and understands the risk factors contained in the Company Information. The Investor understands and agrees that each Company is solely responsible for providing risk factors, conflicts of interest, and other disclosures that investors should consider when investing in securities issued by that Company (including through a SPV), and that the Wefunder Parties have no ability to assure, and have not in any way assured, that any or all such risk factors, conflicts of interest and other disclosures have been presented fully and fairly, or have been presented at all.

6.8. The Investor understands that any privacy statements, reports or other communications regarding the SPV and the Investor's investment in the SPV (including annual and other updates, and tax documents) will be delivered via electronic means, including through wefunder.com. The Investor hereby consents to electronic delivery as described in the preceding sentence. In so consenting, the Investor acknowledges that email messages are not secure and may contain computer viruses or other defects, may not be accurately replicated on other systems, or may be intercepted, deleted or interfered with, with or without the knowledge of the sender or the intended recipient. The Investor also acknowledges that an email from the Wefunder Parties may be accessed by recipients other than the Investor and may be interfered with, may contain computer viruses or other defects and may not be successfully replicated on other systems. No Wefunder Party gives any warranties in relation to these matters.

6.9. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number under penalties of perjury, and attest that the Investor has not been notified by the Internal Revenue Service that he, she or it is subject to backup withholding, the SPV will be required to withhold from any proceeds otherwise payable to the Investor an amount necessary to satisfy the SPV's backup withholding obligations.

6.10. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number to the SPV, the SPV will withhold from any proceeds otherwise payable to the Investor an amount necessary for the SPV to satisfy its tax withholding obligations with respect to such amount. The SPV may also withhold any other amounts representing the SPV's reasonable estimation of penalties that may be charged by the Internal Revenue Service or any other taxing authority as a result of the Investor's failure to provide a valid taxpayer identification number.

# 7. Compliance With Anti-Money Laundering Laws.

7.1. The Investor represents and warrants that the Investor's investment was not directly or indirectly derived from illegal activities, including any activities that would violate U.S. Federal or State laws or any laws and regulations of other countries.
7.2. The Investor acknowledges that U.S. Federal law, regulations and Executive Orders administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") may prohibit the SPV, any Administrator, or any Lead Investor from, among other things, engaging in transactions with, and the provision of services to, persons on the list of Specially Designated Nationals and Blocked Persons and persons, foreign countries and territories that are the subject of U.S. sanctions administered by OFAC (collectively, the "OFAC Maintained Sanctions").
7.3. The Investor acknowledges that the SPV prohibits the investment of funds by any persons or entities that are (i) the subject of OFAC Maintained Sanctions, (ii) acting, directly or indirectly, in contravention of any applicable laws and regulations, including anti-money laundering regulations or conventions, or on behalf of persons or entities subject to an OFAC Maintained Sanction, (iii) acting, directly or indirectly, for a senior foreign political figure, any member of a senior foreign political figure's immediate family or any close associate of a senior foreign political figure, unless the SPV, after being specifically notified by the Investor in writing that it is such a person, conducts further due diligence, and determines that such investment shall be permitted, or (iv) acting, directly or indirectly, for a foreign shell bank (such persons or entities in (i) - (iv) are collectively referred to as "Prohibited Persons"). The Investor represents and warrants that it is not, and is not acting directly or indirectly on behalf of, a Prohibited Person.
7.4. To the extent the Investor has any beneficial owners, (i) it has carried out thorough due diligence to establish the identities of such beneficial owners, (ii) based on such due diligence, the Investor reasonably believes that no such beneficial owners are Prohibited Persons, (iii) it holds the evidence of such identities and status and will maintain all such evidence for at least five years from the date of the liquidation or termination of the SPV, and (iv) it will make available such information and any additional information requested by the SPV that is required under applicable regulations.
7.5. The Investor acknowledges and agrees that the SPV or any Administrator may "freeze the account" of the Investor, including, but not limited to, by suspending distributions from the SPV to which the Investor would otherwise be entitled, if necessary to comply with anti-money laundering statutes or regulations.
7.6. The Investor acknowledges and agrees that the SPV and/or any Administrator, in complying with anti-money laundering statutes, regulations and goals, may file voluntarily and/or as required by law suspicious activity reports ("SARs") or any other information with governmental and law enforcement agencies that identify transactions and activities that the SPV or any Administrator or their agents reasonably determine to be suspicious, or is otherwise required by law. The Investor acknowledges that the LLC, the SPV, and any Administrator are prohibited by law from disclosing to third parties, including the Investor, any filing or the substance of any SARs.
7.7. The Investor agrees that, upon the request of the LLC, the SPV, or any Administrator, it will provide such information as the LLC, the SPV, or any Administrator requires to satisfy applicable anti-money laundering laws and regulations, including, without limitation, background documentation about the Investor

# 8. Regulatory Provisions

8.1. The Investor understands that no federal or state agency has passed upon the Interests or made any findings or determination as to the fairness of this investment.
8.2. The Investor certifies that the information contained in the executed copy of Form W-9 submitted to the SPV (if any) and/or the taxpayer identification provided to the SPV is correct. The Investor agrees to provide such other documentation as the SPV determines may be necessary for the SPV to fulfill any tax reporting and/or withholding requirements.
8.3. The Investor understands and agrees that the Company may cause the SPV to make an election under Section 754 of the Internal Revenue Code (the "Code") or an election to be treated as an "electing investment partnership" for purposes of Section 743 of the Code. If the SPV elects to be treated as an electing investment partnership, the Investor shall cooperate with the SPV to maintain that status and shall not take any action that would be inconsistent with such election. Upon request, the Investor shall provide the SPV with any information necessary to allow the SPV to comply with (a) its obligations to make tax basis adjustments under Section 734 or 743 of the Code and (b) its obligations as an electing investment partnership.
8.4. The Investor consents to receive any Schedule K-1 (Partner's Share of Income, Deductions,

Credits, etc.) from the SPV electronically via email, the Internet and/or another electronic reporting medium in lieu of paper copies. The Investor agrees that it will confirm this consent electronically at a future date in a manner set forth by the Company at such time and as required by the electronic receipt consent rules set forth by the Internal Revenue Service. The Investor may request a paper copy of the Investor's Schedule K-1 by contacting Wefunder Inc. at support@wefunder.com or such other email address as specified on the wefunder.com platform. Requesting a paper copy will not constitute a withdrawal of the Investor's consent to receive reports or other communications, including Schedule K-1, electronically. The Investor may withdraw its consent for electronic delivery or change its contact preferences for such delivery at any time by writing to support@wefunder.com or such other email address as specified on the wefunder.com platform. Such withdrawal will take effect promptly after receipt, unless otherwise agreed upon. Upon receipt of a withdrawal request, the SPV will confirm the withdrawal and the date on which it takes effect in writing (either electronically or on paper). A withdrawal of consent does not apply to a statement that was furnished electronically before the date on which the withdrawal of consent takes effect. The SPV will cease providing information electronically upon termination of the SPV. Notwithstanding the Investor's consent to receive materials electronically, the Investor still may be required to print and attach its Schedule K-1 to a federal, state or local tax return.

# 9. Miscellaneous Provisions

# 9.1. Indemnification

9.1.1. The Investor agrees to indemnify and hold harmless the LLC, the SPV, any Administrator, any Lead Investor, or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them, and each other person, if any, who controls, is controlled by, or is under common control with, any of the foregoing, within the meaning of Section 15 of the Securities Act, and their respective officers, directors, partners, members, shareholders, owners, employees and agents (collectively, the "Indemnified Parties") against any and all loss, liability, claim, damage and expense whatsoever (including all expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) arising out of or based upon (i) any false representation or warranty made by the Investor, or breach or failure by the Investor to comply with any covenant or agreement made by the Investor, in this Subscription Agreement or in any other document furnished by the Investor to any of the foregoing in connection with this transaction, or (ii) any action for securities law violations instituted by the Investor that is finally resolved by judgment against the Investor.

9.1.2. The Investor also agrees to indemnify each Indemnified Party for any and all costs, fees and expenses (including legal fees and disbursements) in connection with any damages resulting from the Investor's misrepresentation or misstatement contained herein, or the assertion of the Investor's lack of proper authorization from the beneficial owner to enter into this Subscription Agreement or perform the obligations hereof.

9.1.3. The Investor agrees to indemnify and hold harmless each Indemnified Party from and against any tax, interest, additions to tax, penalties, reasonable attorneys' and accountants' fees and disbursements, together with interest on the foregoing amounts at a rate determined by the SPV or any Administrator computed from the date of payment through the date of reimbursement, arising from the failure to withhold and pay over to the U.S. Internal Revenue Service or the taxing authority of any other jurisdiction any amounts computed, as required by applicable law, with respect to the income or gains allocated to or amounts distributed to the Investor with respect to its Interest during the period from the Investor's acquisition of the Interest until the Investor's transfer of the Interest in accordance with this Agreement, the LLC Agreement, and Regulation Crowdfunding.

9.1.4. If for any reason (other than the willful misfeasance or gross negligence of the entity that would otherwise be indemnified) the foregoing indemnification is unavailable to, or is insufficient to hold such Indemnified Party harmless, then the Investor shall contribute to the amount paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect not only the relative benefits received by the Investor on the one hand and the Indemnified Parties on the other but also the relative fault of the Investor and the Indemnified Parties, as well as any relevant equitable considerations.

9.1.5. The reimbursement, indemnity and contribution obligations of the Investor under this section shall be in addition to any liability that the Investor may otherwise have, and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Indemnified Parties.

9.2. Limitation of Liability. The LLC is a Delaware "multi-series" limited liability company. As a multi-series limited liability company, the LLC may operate multiple series with the benefit of segregation of assets and liabilities among each of its series pursuant to the Delaware Limited Liability Company Act, as amended (the "Delaware Act"). Accordingly, the Investor hereby

agrees that the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a series (including the SPV) shall be enforceable against the assets of that series only and not against the LLC generally or the assets of any other series. In addition, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the LLC generally, or any particular series, shall be enforceable against the assets of any other series.

9.3. Counsel. The Investor understands that Morrison & Foerster LLP serves as legal counsel on certain matters to Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC and Wefunder Advisors, LLC and not to the SPV or any Investor by virtue of its investment in the SPV, and that no independent counsel has been retained to represent the SPV or Investors in the SPV. The Investor also understands that Morrison & Foerster LLP has not independently verified any factual assertions made in the Company Information or on the Wefunder website and is not responsible for the SPV's compliance with its investment program or applicable law.

9.4. Power of Attorney. The Investor hereby appoints each of the Company and Wefunder Admin, LLC as its true and lawful representative and attorney-in-fact, in its name, place and stead to make, execute, sign, acknowledge, swear to and file:

9.4.1. a Certificate of Formation of the LLC and any amendments required under the Delaware Act
9.4.2. the LLC Agreement and any duly adopted amendments;
9.4.3. any and all instruments, certificates and other documents that may be deemed necessary or desirable to effect the winding-up and termination of the LLC or the SPV (including a Certificate of Cancellation of the Certificate of Formation); and
9.4.4. any business certificate, fictitious name certificate, related amendment or other instrument or document of any kind necessary or desirable to accomplish the LLC's or the SPV's business, purpose and objectives or required by any applicable U.S., state, local or other law.

This power of attorney is coupled with an interest, is irrevocable, and shall survive and shall not be affected by the subsequent death, disability, incompetency, termination, bankruptcy, insolvency or dissolution of the Investor; provided, however, that this power of attorney will terminate upon the substitution of another SPV member for all of the Investor's investment in the LLC or the SPV or upon the liquidation or termination of the LLC or the SPV. The Investor hereby waives any and all defenses that may be available to contest, negate or disaffirm the actions of the LLC, the SPV, and any Administrator taken in good faith under this power of attorney.

# 9.5. Confidentiality.

9.5.1. The Investor agrees that the Company Information and all financial statements (if any), tax reports (if any), portfolio valuations (if any), private placement memoranda (if any), reviews or analyses of potential or actual investments (if any), reports or other materials prepared or produced by the SPV and/or any Administrator and all other documents and information concerning the affairs of the SPV and/or the Fund's investments, including, without limitation, information about the Company, and/or the persons directly or indirectly investing in the SPV (collectively, the "Confidential Information") that the Investor may receive pursuant to or in accordance with the use of the Wefunder website, an investment in one or more SPVs, or otherwise as a result of its ownership of an Interest in the SPV, constitute proprietary and confidential information about the SPV, any Administrator, and/or any Lead Investor (the "Affected Parties").
9.5.2. The Investor acknowledges that the Affected Parties derive independent economic value from the Confidential Information not being generally known and that the Confidential Information is the subject of reasonable efforts to maintain its secrecy. The Investor further acknowledges that the Confidential Information is a trade secret, the disclosure of which is likely to cause substantial and irreparable competitive harm to the Affected Companies or their respective businesses. The Investor shall not reproduce any of the Confidential Information or portion thereof or make the contents thereof available to any third party other than a disclosure on a need-to-know basis to the Investor's legal, accounting or investment advisers, auditors and representatives (collectively, "Advisers"), except to the extent compelled to do so in accordance with applicable law (in which case the Investor shall promptly notify the SPV of the Investor's obligation to disclose any Confidential Information) or with respect to Confidential Information that otherwise becomes publicly available other than through breach of this provision by the Investor.
9.5.3. To the fullest extent permitted by law, the Investor agrees not to request disclosure or inspection of any such information after the Investor is notified (whether in response to the Investor's request for information or otherwise) that the SPV has determined not to disclose such information.

9.5.4. The Investor agrees that the LLC, the SPV, and the SPV service providers would be subject to potentially irreparable injury as a result of any breach by the Investor of the covenants and agreements set forth in this Item 9.5, and that monetary damages would not be sufficient to compensate or make whole the LLC, the SPV, and the SPV services providers for any such breach. Accordingly the Investor agrees that the LLC, the SPV, and the SPV service providers shall be entitled to equitable and injunctive relief, on an emergency, temporary, preliminary and/or permanent basis, to prevent any such breach or the continuation thereof.

9.6. **Amendments.** Neither this Subscription Agreement nor any term hereof may be supplemented, changed, waived, discharged or terminated except with the written consent of the Investor and the Company on behalf of the relevant SPV. For the sake of clarity, the restriction on the Company in the preceding sentence applies solely to the form of this Subscription Agreement applicable to SPVs that have had a closing, and does not prevent the Company from changing the form and content of this Subscription Agreement for use in offerings of SPVs that have not had a closing.

9.7. **Assignability and Transferability.** This Subscription Agreement is not transferable or assignable by the Investor without the prior written consent of the Company on behalf of the SPV, and any transfer or assignment in violation of this provision shall be null and void. The Interests in the SPV being acquired by Investor herein may only be transferred by Investor in compliance with Regulation Crowdfunding and the terms and conditions of this Agreement. If Investor seeks to transfer the Interests, Investor shall first give written notice to the Company and Wefunder Admin, LLC, including the number of Interests that Investor desires to transfer, the proposed price, the name and contact information of the proposed buyer, and any other information that the Company or Wefunder Admin, LLC may reasonably request. To the extent possible, such notice shall be provided through the Wefunder.com website. Any transfer of Interests shall be subject to execution by Investor and the proposed transferee of appropriate documentation, as may be required by the Company or Wefunder Admin, LLC, in their discretion. Investor further acknowledges that pursuant to the LLC Agreement, Wefunder Admin, LLC (as Series Manager of the SPV), may impose additional restrictions on or prohibit the Transfer of Interests for any reason or no reason, in its sole discretion.

9.8. **Repurchase.** In the event that the SPV or any Administrator determines that it is likely that within twelve (12) months the securities of the SPV or the Company will be held of record by a number of persons that would require the SPV or the Company to register a class of its equity securities under the Securities Exchange Act of 1934, as amended ('Exchange Act'), as required by Section 12(g) or 15(d) thereof, the SPV shall have the option to repurchase the Interests from each Investor to the extent necessary to avoid the requirement to register a class of its securities under the Exchange Act. Such repurchase of Interests shall be for the greater of (i) the purchase price of the Interests, or (ii) the fair market value of the Interests, as determined by an independent appraiser of securities chosen by the Administrator. Any such repurchase may only occur with the consent of Wefunder Admin, LLC, as Series Manager of the SPV.

9.9. **Governing Law.** Consent to Jurisdiction. Notwithstanding the place where this Subscription Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed under the laws of the State of Delaware. Any action or proceeding brought by the SPV or any SPV service provider against one or more investors in the SPV relating in any way to this Subscription Agreement or the LLC Agreement may, and any action or proceeding brought by any other party against the SPV or any SPV service provider relating in any way to this Subscription Agreement or the Company Information shall, be brought and enforced in the state courts of the State of Delaware located in Wilmington or (to the extent subject matter jurisdiction exists therefore) in the courts of the United States located in the District of Delaware; and the Investor and the SPV irrevocably submit to the jurisdiction of both such state and federal courts in respect of any such action or proceeding. The Investor and the SPV irrevocably waive, to the fullest extent permitted by law, any objection that they may now or hereafter have to laying the venue of any such action or proceeding in the courts of the State of Delaware located in Wilmington or in the courts of the United States located in the District of Delaware and any claim that any such action or proceeding brought in any such court has been brought in an inconvenient forum.

9.10. **Severability.** If any provision of this Subscription Agreement is invalid or unenforceable under any applicable law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such applicable law. Any provision hereof that may be held invalid or unenforceable under any applicable law shall not affect the validity or enforceability of any other provisions hereof, and to this extent the provisions hereof shall be severable.

9.11. **Headings.** The headings in this Subscription Agreement are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.

9.12. **General.** This Subscription Agreement shall be binding upon the Investor and the legal representatives, successors and assigns of the Investor, shall survive the admission of the Investor as a member of a SPV, and shall, if the Investor consists of more than one person, be the joint and several obligation of all such persons.

The undersigned have executed this instrument as of the date first above written.

**SPV**

**BYGMusic I, as series of Wefunder SPV, LLC**

**By: Wefunder Admin, LLC, its Manager**

By: *Founder Signature*

Date:

Name: **Nicholas Tommarello**

Title: **Chief Executive Officer**

**Investor**

**[INVESTOR NAME]**

By: *Investor Signature*

Date:

CONTACT INFORMATION:

Name: **[INVESTOR NAME]**

Mailing Address:

City:

Country:

E-mail:

TERMS APPENDIX FOR THE PURCHASE OF BYGMusic LLC
SECURITIES BY BYGMusic I. A SERIES OF WEFUNDER
SPV, LLC, A DELAWARE LIMITED LIABILITY COMPANY

**Type of Security:** Future Equity

**Terms** $14M valuation cap

To view a copy of the contract, please see **Appendix B, Investor Contracts** of the Form C. The latest Form C or C/A filing be found here:
https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-TYPE%3DC%2FA+or+FORM-TYPE%3DC%29+and+CIK%3D0001909043&first=2016

**Attachment 4:** `document_4.pdf`

# **Subscription Agreement**

**[INVESTMENT AMOUNT]**

**[INVESTMENT DATE]**

**BYGMusic I EB** (the "SPV"), a series of Wefunder SPV, LLC (the "LLC"), is a special purpose vehicle that will invest all of its assets in securities issued by **BYGMusic LLC** (the "Company"). By making an investment in the SPV through the Wefunder website, I understand and agree to the representations set forth below.

I have reviewed the following information and documents in connection with this Subscription Agreement:

1. The information on the Wefunder website about the Company, I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that none of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC, nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
2. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
3. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "**LLC Agreement**"), which sets forth certain specific terms of the SPV;
4. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
5. The LLC Agreement, which sets forth other terms applicable to each SPV;
6. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
7. The Wefunder Investor Agreement; and
8. The Wefunder Terms of Service.

**By making an investment in the SPV through the Wefunder website, I agree to be bound by this Subscription Agreement and the terms of the other agreements listed above with respect to my investment in the SPV.**

Subscription Agreement

# SCOPE OF AGREEMENT AND INVESTOR ELIGIBILITY REPRESENTATIONS

A. This agreement ("Agreement") applies to each investment in a series ("SPV") of Wefunder SPV, LLC (the "LLC"). Each series is a separate pool of assets from every other series. Each SPV will invest all of its assets in securities issued by a single company ("Company") as set forth in the applicable series appendix ("Series Appendix") to the Wefunder SPV, LLC limited liability company agreement ("LLC Agreement"). The terms of the Company securities to be purchased by the SPV are summarized in an appendix ("Terms Appendix") attached to this Agreement.

B. Each SPV is formed by and operated by Wefunder Admin, LLC on behalf of the Company in whose securities that SPV invests.

C. Important information about the Company, about the related SPV, and more generally about investments through the Wefunder website, is available through the Wefunder website. The Investor should review that information, and all relevant Company Information (as defined below), carefully before making an investment in any SPV.

D. Each SPV will offer membership interests ("Interests") in that SPV pursuant to Regulation Crowdfunding under the U.S. Securities Act of 1933, as amended (the "Securities Act").

E. You hereby agree that each time you make an investment in any SPV, you will be deemed to have entered into this Agreement, and will be deemed to have made each representation and covenant contained in this Agreement.

F. Except as the context otherwise requires, any reference in this Subscription Agreement to:

1. a "SPV" shall mean "The LLC acting solely on behalf of and for the account of the SPV";

2. "Investor" and "you" shall mean a person (whether individually, jointly with another person, or through his or her individual retirement account) who has agreed to invest, or has invested, in any SPV; and

3. "Company Information" means:

a. The information on the Wefunder website about the Company. I acknowledge that this information was prepared solely by either the Company or a third party whose work has been verified by the Company, and that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or Wefunder Advisors, LLC (together, the "Wefunder entities," nor any of their affiliates, employees or agents, are responsible for the adequacy, completeness, or accuracy of this information;
b. The Form C relating to this investment, which provides information about investment in the Company through the use of the SPV;
c. The Series Appendix, an appendix to the Wefunder SPV, LLC limited liability company agreement (the "LLC Agreement"), which sets forth certain specific terms of the SPV;
d. The Terms Appendix, which summarizes the terms of the Company securities to be purchased by the SPV;
e. The LLC Agreement, which sets forth other terms applicable to each SPV;
f. This Subscription Agreement, which sets forth the terms governing your investment in the SPV, and that sets forth certain representations you are making in connection with your investment in the SPV;
g. The Wefunder Investor Agreement; and
h. The Wefunder Terms of Service.

INVESTOR'S REPRESENTATIONS AND COVENANTS

# 1. Investor's Review of Information and Investment Decision

1.1. The Investor has carefully read and understands the Company Information. The Investor acknowledges that it has made an independent decision to invest indirectly in the Company through the SPV and that, in making its decision to invest in a SPV, the Investor has relied solely upon the Company Information, any other relevant information on the Wefunder website, and independent investigations made by the Investor. The Investor understands that no representations or warranties have been made to the Investor by the LLC, the relevant SPV, any administrator appointed from time to time with respect to the SPV (the "Administrator"), any lead investor appointed from time to time with respect to the SPV (the "Lead Investor"), or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them regarding the Company.

1.2. The Investor has been provided an opportunity to request additional information concerning the Company and the offering through the Ask A Question feature on wefunder.com.

1.3. The Investor understands and agrees that neither Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC, any of their affiliates, nor any director, manager, officer, shareholder, member, employee or agent of Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC or any of their affiliates (each, a "Wefunder Party," and collectively, "Wefunder Parties") shall be liable in connection with any information or omission of information contained in materials prepared or supplied by the Company. Such materials may include, but are not limited to, information provided by the Company in the Form C related to the offering, information available through the Wefunder website, and materials distributed to the Investor by the SPV on behalf of a Company.

1.4. The Investor represents and agrees that no Wefunder Party has recommended or suggested any investment in a SPV, or any investment related to a Company, to the Investor.

1.5. Investor understands that no Wefunder Party is an adviser to Investor, and that Investor is not an advisory or other client of any Wefunder Party.

1.6. The Investor is not relying on any Wefunder Party or any other person or entity with respect to the legal, accounting, business, investment, pension, tax or other economic considerations involved in this investment other than the Investor's own advisers that are not affiliated with any of the foregoing persons.

1.7. The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of the Investor's investment in the SPV and is able to bear such risks. The Investor has obtained, in the Investor's judgment, sufficient information to evaluate the merits and risks of such investment. The Investor has evaluated the risks of investing in the SPV, understands there are substantial risks of loss incidental to the purchase of an Interest and has determined that the Interest is a suitable investment for the Investor and consistent with the general investment objectives of the Investor.

# 2. Investor's Representations Related To Investment in a SPV.

2.1. The Investor is acquiring the Interest for its own account, for investment purposes only and not with an intent to resell or distribute the Interest (or any distributions received from the SPV in whole or in part), and the Investor agrees that it will not sell or otherwise transfer the Interest unless in compliance with Regulation Crowdfunding and other applicable securities laws, and with the terms and conditions of this Agreement.

2.2. The Investor's investment in the Interest is consistent with the investment purposes, objectives and cash flow requirements of the Investor and will not adversely affect the Investor's overall need for diversification and liquidity.

2.3. The Investor has all requisite power, authority and capacity to acquire and hold the Interest and to execute, deliver and comply with the terms of each of the instruments required to be executed and delivered by the Investor in connection with the Investor's subscription for the Interest, including without limitation this Subscription Agreement, and such execution, delivery and compliance does not conflict with, or constitute a default under, any instruments governing the Investor, any law, regulation or order, or any agreement or other undertaking to which the Investor is a party or by which the Investor may be bound. If the Investor is an entity, the person executing and delivering each of such instruments on behalf of the Investor has all requisite power, authority and capacity to execute and deliver such instruments, and, upon request by the SPV, will furnish to the SPV a true and correct copy of any instruments governing the Investor, including all amendments thereto. The signature on each of such instruments is genuine and each of such instruments constitutes a legal, valid and binding obligation of the Investor enforceable against the Investor in accordance with its terms.

2.4. The Wefunder Parties are each hereby authorized and instructed to accept and execute any instructions in respect of the Interest given by the Investor in written or electronic form. The

Wefunder Parties may rely conclusively upon and shall incur no liability in respect of any action take upon any notice, consent, request, instructions or other instrument believed in good faith to be genuine or to be signed by properly authorized persons of the Investor.

2.5. Pursuant to the requirements of Treas. Reg. § 301.6109-1(c), the Investor has provided, or agrees to provide upon the earlier of (i) two years of an acquisition of an Interest or (ii) twenty (20) days before any distribution is to be made from the SPV, his, her or its taxpayer identification number (e.g., social security number or employer identification number) under penalties of perjury and has or will attest that the Internal Revenue Service has not notified the Investor that he, she or it is subject to backup withholding.

### 3. The Manager Has The Right To Reject Any Subscription, In Whole Or In Part.

3.1. The Investor understands that the SPV will not register as an investment company under the U.S. Investment Company Act of 1940, as amended (the "Investment Company Act"), nor will it make a public offering of its securities within the United States.

3.2. The Investor understands that the value of all investments in any SPV made through individual retirement accounts ("IRAs") must be less than 25% of the value of the SPV's assets.

3.3. If the Investor is investing in a SPV through an employee benefit plan of any kind, including an individual retirement account (the "Plan"), and an individual or entity (the "Fiduciary") has entered into this Agreement on behalf of the Plan, the Fiduciary hereby makes the following representations, warranties, and covenants:

i. The Fiduciary is a fiduciary of the Plan who is authorized to invest Plan assets or is acting at the direction of a Plan fiduciary authorized to invest Plan assets. The Fiduciary has determined that an investment in the Fund is consistent with the Fiduciary's responsibilities to the Plan under Employee Retirement Income Security Act of 1974, as amended ("ERISA") or other applicable law, and is qualified to make such investment decision. The Fiduciary is authorized to make all representations, covenants and agreements set forth in this Agreement about and on behalf of the Investor, and the Fiduciary hereby agrees that, except for the representations, covenants and agreements contained in this section 3.3, all representations, covenants and agreements contained in this Agreement are made on behalf of the Investor who is investing through the Plan.

ii. The execution and delivery of this Subscription Agreement, and the investment contemplated hereby has been duly authorized by all appropriate and necessary parties pursuant to the provisions of the instrument or instruments governing the Plan and any related trust; and (B) will not violate, and is not otherwise inconsistent with, the terms of such instrument or instruments.

iii. The Fiduciary acknowledges that the assets of the Fund will be invested in accordance with the Company Information related to that Fund.

iv. The Plan's purchase and holding of an Interest will not constitute a non-exempt transaction prohibited under ERISA, Section 4975 of the Internal Revenue Code (the "Code"), or any similar laws or other federal, state, local, foreign or other laws or regulations applicable to the Plan and its investments. None of the Wefunder entities nor any of their affiliates, agents, or employees. (A) exercises any authority or control with respect to the management or disposition of assets of the Plan used to purchase an Interest, (B) renders investment advice for a fee (pursuant to an agreement or understanding that such advice will serve as a primary basis for investment decisions and that such advice will be based on the particular investment needs of the Plan), with respect to such assets of the Plan, or has the authority to do so, or (C) is an employer maintaining or contributing to, or any of whose employees are covered by, the Plan.

v. The Fiduciary understands and agrees to the fee arrangements described in the Company Information.

vi. The Fiduciary understands and agrees that, to prevent the assets of the SPV from being treated as "plan assets" for purposes of ERISA and Section 4975 of the Code, the Investor may be prohibited from purchasing or acquiring an Interest or may be required to redeem its Interest or a portion thereof.

3.4. The Investor acknowledges that the SPV and any Administrator, on the SPV's behalf, may not accept any investment from an Investor if the Investor cannot truthfully make the representations contained herein.

### 4. The Correctness And Accuracy Of All Information Provided By Investor To The LLC Or The

SPV.

4.1. The Investor confirms that all information and documentation provided to the LLC, the SPV, and any Administrator, including, but not limited to, all information regarding the Investor's identity, taxpayer identification number, the source of the funds to be invested in the SPV, and the Investor's eligibility to invest in offerings under Regulation Crowdfunding, is true, correct and complete. Should any such information change or no longer be accurate, the Investor agrees and covenants that they will promptly notify the Wefunder Parties of such changes via the wefunder.com platform. The Investor agrees and covenants that he, she or it will maintain accurate and up-to-date contact information (including email and mailing address) on the wefunder.com platform and will promptly update such information in the event it changes or is no longer accurate.

4.2. The representations, warranties, agreements, undertakings and acknowledgments made by the Investor in this Subscription Agreement will be relied upon by the LLC, the SPV, and any Administrator in determining the Fund's compliance with federal and state securities laws, and shall survive the Investor's admission as a Member of the SPV.

4.3. All information that the Investor has provided to the LLC, the SPV, and any Administrator concerning the knowledge and experience of financial, tax and business matters of the Investor is correct and complete.

# 5. The Wefunder Parties' Right To Use Investor Information.

5.1. The Investor agrees and consents to the Wefunder Parties, their delegates and their duly authorized agents and any of their respective related, associated or affiliated companies obtaining, holding, using, disclosing and processing the Investor's data:

a. to facilitate the acceptance, management and administration of the Investor's subscription for an interest on an on-going basis;

b. for any other specific purposes where the Investor has given specific consent to do so;

c. to carry out statistical analysis, market research, and tracking of investment performance over time;

d. to comply with legal or regulatory requirements applicable to the SPV and any Administrator or the Investor, including, but not limited to, in connection with anti-money laundering and similar laws;

e. for disclosure or transfer to third parties including the Investor's financial adviser (where appropriate), regulatory bodies, auditors, technology providers or to the SPV, any Administrator, any Lead Investor, and their delegates or their duly appointed agents and any of their respective related, associated or affiliated companies for the purposes specified above;

f. if the contents thereof are relevant to any issue in any action, suit or proceeding to which the LLC, the SPV, any Administrator, any Lead Investor, or their affiliates are a party or by which they are or may be bound;

g. for other legitimate business of the LLC, the SPV, any Administrator, or any Lead Investor.

5.2. The Investor acknowledges and agrees that it will provide additional information or take such other actions as may be necessary or advisable for the SPV or any Administrator (in the sole judgment of the SPV and/or any Administrator) to comply with any disclosure and compliance policies, related legal process or appropriate requests (whether formal or informal) or otherwise.

5.3. The Investor agrees and consents to disclosure by the LLC, the SPV and any of their agents, including any Administrator or any Lead Investor, to relevant third parties of information pertaining to the Investor in respect of disclosure and compliance policies or information requests related thereto. Without limiting the generality of the foregoing, the Investor agrees that information about the Investor may be provided to the Company in whose securities a SPV will or proposes to invest.

5.4. The Investor authorizes the LLC, the SPV, any Administrator, and each SPV service provider to disclose the Investor's nonpublic personal information to comply with regulatory and contractual requirements applicable to the SPV and its investments. Any such disclosure shall be permitted notwithstanding any privacy policy or similar restrictions regarding the disclosure

of the Investor's nonpublic personal information.

# 6. Key Risk Factors

6.1. The Investor understands that investment in a SPV may involve a complete loss of the Investor's investment. In this regard, the Investor understands that such venture investments involve a high degree of risk, and that many or most venture company investments lose money. An Investor may ultimately receive cash, securities, or a combination of cash and securities (and in many cases nothing at all). If the Investor receives securities, the securities may not be publicly traded, and may not have any significant value.

6.2. The Investor understands and agrees that the Interests are subject to restrictions on transfer and cannot be redeemed. Instead, an Investor typically must hold his or her Interest in a SPV until the SPV has sold or otherwise disposed of its investments and the SPV distributes its investments to the Investors in the SPV (a "Liquidation Event"). An Investor typically will not receive any distributions until such a Liquidation Event (and may not receive anything even upon a Liquidation Event), which may not occur for many years. The Investor must therefore bear the economic risk of holding their investment for an indefinite period of time.

6.3. The Investor understands and agrees that the Interests: (a) have not been registered under the Securities Act or any other law of the United States, or under the securities laws of any state or other jurisdiction, and therefore an Interest cannot be resold, pledged, assigned or otherwise disposed of unless it is so registered or an exemption from registration is available; and (b) can only be transferred as permitted under Regulation Crowdfunding and subject to the terms and conditions of this Agreement.

6.4. The Investor understands that no guarantees have been made to the Investor about future performance or financial results of the SPV, and an investment in the SPV may result in a gain or loss upon termination or liquidation of the SPV. It is possible that the investors in a SPV will have "phantom income," which could require them to pay taxes on their investment in a SPV even though the SPV does not distribute any income (or does not distribute sufficient income to pay the taxes).

6.5. The Investor understands and agrees that the SPV was formed by and is operated by Wefunder Admin, LLC on behalf of the Company. Investors will have no right to manage or influence the management of any SPV or of the LLC.

6.6. The Investor understands and agrees that the Company may appoint a Lead Investor and that, if appointed, pursuant to a power of attorney granted by the Investor in the Investor Agreement, the Lead Investor will exercise voting authority on behalf of the Investor with respect to the SPV securities the Investor owns.

6.7. The Investor represents that he or she has read and understands the risk factors contained in the Company Information. The Investor understands and agrees that each Company is solely responsible for providing risk factors, conflicts of interest, and other disclosures that investors should consider when investing in securities issued by that Company (including through a SPV), and that the Wefunder Parties have no ability to assure, and have not in any way assured, that any or all such risk factors, conflicts of interest and other disclosures have been presented fully and fairly, or have been presented at all.

6.8. The Investor understands that any privacy statements, reports or other communications regarding the SPV and the Investor's investment in the SPV (including annual and other updates, and tax documents) will be delivered via electronic means, including through wefunder.com. The Investor hereby consents to electronic delivery as described in the preceding sentence. In so consenting, the Investor acknowledges that email messages are not secure and may contain computer viruses or other defects, may not be accurately replicated on other systems, or may be intercepted, deleted or interfered with, with or without the knowledge of the sender or the intended recipient. The Investor also acknowledges that an email from the Wefunder Parties may be accessed by recipients other than the Investor and may be interfered with, may contain computer viruses or other defects and may not be successfully replicated on other systems. No Wefunder Party gives any warranties in relation to these matters.

6.9. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number under penalties of perjury, and attest that the Investor has not been notified by the Internal Revenue Service that he, she or it is subject to backup withholding, the SPV will be required to withhold from any proceeds otherwise payable to the Investor an amount necessary to satisfy the SPV's backup withholding obligations.

6.10. The Investor understands and agrees that if he, she or it does not provide a valid taxpayer identification number to the SPV, the SPV will withhold from any proceeds otherwise payable to the Investor an amount necessary for the SPV to satisfy its tax withholding obligations with respect to such amount. The SPV may also withhold any other amounts representing the SPV's reasonable estimation of penalties that may be charged by the Internal Revenue Service or any other taxing authority as a result of the Investor's failure to provide a valid taxpayer identification number.

# 7. Compliance With Anti-Money Laundering Laws.

7.1. The Investor represents and warrants that the Investor's investment was not directly or indirectly derived from illegal activities, including any activities that would violate U.S. Federal or State laws or any laws and regulations of other countries.
7.2. The Investor acknowledges that U.S. Federal law, regulations and Executive Orders administered by the U.S. Treasury Department's Office of Foreign Assets Control ("OFAC") may prohibit the SPV, any Administrator, or any Lead Investor from, among other things, engaging in transactions with, and the provision of services to, persons on the list of Specially Designated Nationals and Blocked Persons and persons, foreign countries and territories that are the subject of U.S. sanctions administered by OFAC (collectively, the "OFAC Maintained Sanctions").
7.3. The Investor acknowledges that the SPV prohibits the investment of funds by any persons or entities that are (i) the subject of OFAC Maintained Sanctions, (ii) acting, directly or indirectly, in contravention of any applicable laws and regulations, including anti-money laundering regulations or conventions, or on behalf of persons or entities subject to an OFAC Maintained Sanction, (iii) acting, directly or indirectly, for a senior foreign political figure, any member of a senior foreign political figure's immediate family or any close associate of a senior foreign political figure, unless the SPV, after being specifically notified by the Investor in writing that it is such a person, conducts further due diligence, and determines that such investment shall be permitted, or (iv) acting, directly or indirectly, for a foreign shell bank (such persons or entities in (i) - (iv) are collectively referred to as "Prohibited Persons"). The Investor represents and warrants that it is not, and is not acting directly or indirectly on behalf of, a Prohibited Person.
7.4. To the extent the Investor has any beneficial owners, (i) it has carried out thorough due diligence to establish the identities of such beneficial owners, (ii) based on such due diligence, the Investor reasonably believes that no such beneficial owners are Prohibited Persons, (iii) it holds the evidence of such identities and status and will maintain all such evidence for at least five years from the date of the liquidation or termination of the SPV, and (iv) it will make available such information and any additional information requested by the SPV that is required under applicable regulations.
7.5. The Investor acknowledges and agrees that the SPV or any Administrator may "freeze the account" of the Investor, including, but not limited to, by suspending distributions from the SPV to which the Investor would otherwise be entitled, if necessary to comply with anti-money laundering statutes or regulations.
7.6. The Investor acknowledges and agrees that the SPV and/or any Administrator, in complying with anti-money laundering statutes, regulations and goals, may file voluntarily and/or as required by law suspicious activity reports ("SARs") or any other information with governmental and law enforcement agencies that identify transactions and activities that the SPV or any Administrator or their agents reasonably determine to be suspicious, or is otherwise required by law. The Investor acknowledges that the LLC, the SPV, and any Administrator are prohibited by law from disclosing to third parties, including the Investor, any filing or the substance of any SARs.
7.7. The Investor agrees that, upon the request of the LLC, the SPV, or any Administrator, it will provide such information as the LLC, the SPV, or any Administrator requires to satisfy applicable anti-money laundering laws and regulations, including, without limitation, background documentation about the Investor

# 8. Regulatory Provisions

8.1. The Investor understands that no federal or state agency has passed upon the Interests or made any findings or determination as to the fairness of this investment.
8.2. The Investor certifies that the information contained in the executed copy of Form W-9 submitted to the SPV (if any) and/or the taxpayer identification provided to the SPV is correct. The Investor agrees to provide such other documentation as the SPV determines may be necessary for the SPV to fulfill any tax reporting and/or withholding requirements.
8.3. The Investor understands and agrees that the Company may cause the SPV to make an election under Section 754 of the Internal Revenue Code (the "Code") or an election to be treated as an "electing investment partnership" for purposes of Section 743 of the Code. If the SPV elects to be treated as an electing investment partnership, the Investor shall cooperate with the SPV to maintain that status and shall not take any action that would be inconsistent with such election. Upon request, the Investor shall provide the SPV with any information necessary to allow the SPV to comply with (a) its obligations to make tax basis adjustments under Section 734 or 743 of the Code and (b) its obligations as an electing investment partnership.
8.4. The Investor consents to receive any Schedule K-1 (Partner's Share of Income, Deductions,

Credits, etc.) from the SPV electronically via email, the Internet and/or another electronic reporting medium in lieu of paper copies. The Investor agrees that it will confirm this consent electronically at a future date in a manner set forth by the Company at such time and as required by the electronic receipt consent rules set forth by the Internal Revenue Service. The Investor may request a paper copy of the Investor's Schedule K-1 by contacting Wefunder Inc. at support@wefunder.com or such other email address as specified on the wefunder.com platform. Requesting a paper copy will not constitute a withdrawal of the Investor's consent to receive reports or other communications, including Schedule K-1, electronically. The Investor may withdraw its consent for electronic delivery or change its contact preferences for such delivery at any time by writing to support@wefunder.com or such other email address as specified on the wefunder.com platform. Such withdrawal will take effect promptly after receipt, unless otherwise agreed upon. Upon receipt of a withdrawal request, the SPV will confirm the withdrawal and the date on which it takes effect in writing (either electronically or on paper). A withdrawal of consent does not apply to a statement that was furnished electronically before the date on which the withdrawal of consent takes effect. The SPV will cease providing information electronically upon termination of the SPV. Notwithstanding the Investor's consent to receive materials electronically, the Investor still may be required to print and attach its Schedule K-1 to a federal, state or local tax return.

# 9. Miscellaneous Provisions

# 9.1. Indemnification

9.1.1. The Investor agrees to indemnify and hold harmless the LLC, the SPV, any Administrator, any Lead Investor, or any partner, member, officer, employee, agent, affiliate or subsidiary of any of them, and each other person, if any, who controls, is controlled by, or is under common control with, any of the foregoing, within the meaning of Section 15 of the Securities Act, and their respective officers, directors, partners, members, shareholders, owners, employees and agents (collectively, the "Indemnified Parties") against any and all loss, liability, claim, damage and expense whatsoever (including all expenses reasonably incurred in investigating, preparing or defending against any claim whatsoever) arising out of or based upon (i) any false representation or warranty made by the Investor, or breach or failure by the Investor to comply with any covenant or agreement made by the Investor, in this Subscription Agreement or in any other document furnished by the Investor to any of the foregoing in connection with this transaction, or (ii) any action for securities law violations instituted by the Investor that is finally resolved by judgment against the Investor.

9.1.2. The Investor also agrees to indemnify each Indemnified Party for any and all costs, fees and expenses (including legal fees and disbursements) in connection with any damages resulting from the Investor's misrepresentation or misstatement contained herein, or the assertion of the Investor's lack of proper authorization from the beneficial owner to enter into this Subscription Agreement or perform the obligations hereof.

9.1.3. The Investor agrees to indemnify and hold harmless each Indemnified Party from and against any tax, interest, additions to tax, penalties, reasonable attorneys' and accountants' fees and disbursements, together with interest on the foregoing amounts at a rate determined by the SPV or any Administrator computed from the date of payment through the date of reimbursement, arising from the failure to withhold and pay over to the U.S. Internal Revenue Service or the taxing authority of any other jurisdiction any amounts computed, as required by applicable law, with respect to the income or gains allocated to or amounts distributed to the Investor with respect to its Interest during the period from the Investor's acquisition of the Interest until the Investor's transfer of the Interest in accordance with this Agreement, the LLC Agreement, and Regulation Crowdfunding.

9.1.4. If for any reason (other than the willful misfeasance or gross negligence of the entity that would otherwise be indemnified) the foregoing indemnification is unavailable to, or is insufficient to hold such Indemnified Party harmless, then the Investor shall contribute to the amount paid or payable by the Indemnified Party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect not only the relative benefits received by the Investor on the one hand and the Indemnified Parties on the other but also the relative fault of the Investor and the Indemnified Parties, as well as any relevant equitable considerations.

9.1.5. The reimbursement, indemnity and contribution obligations of the Investor under this section shall be in addition to any liability that the Investor may otherwise have, and shall be binding upon and inure to the benefit of any successors, assigns, heirs and personal representatives of the Indemnified Parties.

9.2. Limitation of Liability. The LLC is a Delaware "multi-series" limited liability company. As a multi-series limited liability company, the LLC may operate multiple series with the benefit of segregation of assets and liabilities among each of its series pursuant to the Delaware Limited Liability Company Act, as amended (the "Delaware Act"). Accordingly, the Investor hereby

agrees that the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to a series (including the SPV) shall be enforceable against the assets of that series only and not against the LLC generally or the assets of any other series. In addition, none of the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing with respect to the LLC generally, or any particular series, shall be enforceable against the assets of any other series.

9.3. Counsel. The Investor understands that Morrison & Foerster LLP serves as legal counsel on certain matters to Wefunder, Inc., Wefunder Portal, LLC, Wefunder Admin, LLC and Wefunder Advisors, LLC and not to the SPV or any Investor by virtue of its investment in the SPV, and that no independent counsel has been retained to represent the SPV or Investors in the SPV. The Investor also understands that Morrison & Foerster LLP has not independently verified any factual assertions made in the Company Information or on the Wefunder website and is not responsible for the SPV's compliance with its investment program or applicable law.

9.4. Power of Attorney. The Investor hereby appoints each of the Company and Wefunder Admin, LLC as its true and lawful representative and attorney-in-fact, in its name, place and stead to make, execute, sign, acknowledge, swear to and file:

9.4.1. a Certificate of Formation of the LLC and any amendments required under the Delaware Act
9.4.2. the LLC Agreement and any duly adopted amendments;
9.4.3. any and all instruments, certificates and other documents that may be deemed necessary or desirable to effect the winding-up and termination of the LLC or the SPV (including a Certificate of Cancellation of the Certificate of Formation); and
9.4.4. any business certificate, fictitious name certificate, related amendment or other instrument or document of any kind necessary or desirable to accomplish the LLC's or the SPV's business, purpose and objectives or required by any applicable U.S., state, local or other law.

This power of attorney is coupled with an interest, is irrevocable, and shall survive and shall not be affected by the subsequent death, disability, incompetency, termination, bankruptcy, insolvency or dissolution of the Investor; provided, however, that this power of attorney will terminate upon the substitution of another SPV member for all of the Investor's investment in the LLC or the SPV or upon the liquidation or termination of the LLC or the SPV. The Investor hereby waives any and all defenses that may be available to contest, negate or disaffirm the actions of the LLC, the SPV, and any Administrator taken in good faith under this power of attorney.

# 9.5. Confidentiality.

9.5.1. The Investor agrees that the Company Information and all financial statements (if any), tax reports (if any), portfolio valuations (if any), private placement memoranda (if any), reviews or analyses of potential or actual investments (if any), reports or other materials prepared or produced by the SPV and/or any Administrator and all other documents and information concerning the affairs of the SPV and/or the Fund's investments, including, without limitation, information about the Company, and/or the persons directly or indirectly investing in the SPV (collectively, the "Confidential Information") that the Investor may receive pursuant to or in accordance with the use of the Wefunder website, an investment in one or more SPVs, or otherwise as a result of its ownership of an Interest in the SPV, constitute proprietary and confidential information about the SPV, any Administrator, and/or any Lead Investor (the "Affected Parties").
9.5.2. The Investor acknowledges that the Affected Parties derive independent economic value from the Confidential Information not being generally known and that the Confidential Information is the subject of reasonable efforts to maintain its secrecy. The Investor further acknowledges that the Confidential Information is a trade secret, the disclosure of which is likely to cause substantial and irreparable competitive harm to the Affected Companies or their respective businesses. The Investor shall not reproduce any of the Confidential Information or portion thereof or make the contents thereof available to any third party other than a disclosure on a need-to-know basis to the Investor's legal, accounting or investment advisers, auditors and representatives (collectively, "Advisers"), except to the extent compelled to do so in accordance with applicable law (in which case the Investor shall promptly notify the SPV of the Investor's obligation to disclose any Confidential Information) or with respect to Confidential Information that otherwise becomes publicly available other than through breach of this provision by the Investor.
9.5.3. To the fullest extent permitted by law, the Investor agrees not to request disclosure or inspection of any such information after the Investor is notified (whether in response to the Investor's request for information or otherwise) that the SPV has determined not to disclose such information.

9.5.4. The Investor agrees that the LLC, the SPV, and the SPV service providers would be subject to potentially irreparable injury as a result of any breach by the Investor of the covenants and agreements set forth in this Item 9.5, and that monetary damages would not be sufficient to compensate or make whole the LLC, the SPV, and the SPV services providers for any such breach. Accordingly the Investor agrees that the LLC, the SPV, and the SPV service providers shall be entitled to equitable and injunctive relief, on an emergency, temporary, preliminary and/or permanent basis, to prevent any such breach or the continuation thereof.

9.6. **Amendments.** Neither this Subscription Agreement nor any term hereof may be supplemented, changed, waived, discharged or terminated except with the written consent of the Investor and the Company on behalf of the relevant SPV. For the sake of clarity, the restriction on the Company in the preceding sentence applies solely to the form of this Subscription Agreement applicable to SPVs that have had a closing, and does not prevent the Company from changing the form and content of this Subscription Agreement for use in offerings of SPVs that have not had a closing.

9.7. **Assignability and Transferability.** This Subscription Agreement is not transferable or assignable by the Investor without the prior written consent of the Company on behalf of the SPV, and any transfer or assignment in violation of this provision shall be null and void. The Interests in the SPV being acquired by Investor herein may only be transferred by Investor in compliance with Regulation Crowdfunding and the terms and conditions of this Agreement. If Investor seeks to transfer the Interests, Investor shall first give written notice to the Company and Wefunder Admin, LLC, including the number of Interests that Investor desires to transfer, the proposed price, the name and contact information of the proposed buyer, and any other information that the Company or Wefunder Admin, LLC may reasonably request. To the extent possible, such notice shall be provided through the Wefunder.com website. Any transfer of Interests shall be subject to execution by Investor and the proposed transferee of appropriate documentation, as may be required by the Company or Wefunder Admin, LLC, in their discretion. Investor further acknowledges that pursuant to the LLC Agreement, Wefunder Admin, LLC (as Series Manager of the SPV), may impose additional restrictions on or prohibit the Transfer of Interests for any reason or no reason, in its sole discretion.

9.8. **Repurchase.** In the event that the SPV or any Administrator determines that it is likely that within twelve (12) months the securities of the SPV or the Company will be held of record by a number of persons that would require the SPV or the Company to register a class of its equity securities under the Securities Exchange Act of 1934, as amended ('Exchange Act'), as required by Section 12(g) or 15(d) thereof, the SPV shall have the option to repurchase the Interests from each Investor to the extent necessary to avoid the requirement to register a class of its securities under the Exchange Act. Such repurchase of Interests shall be for the greater of (i) the purchase price of the Interests, or (ii) the fair market value of the Interests, as determined by an independent appraiser of securities chosen by the Administrator. Any such repurchase may only occur with the consent of Wefunder Admin, LLC, as Series Manager of the SPV.

9.9. **Governing Law.** Consent to Jurisdiction. Notwithstanding the place where this Subscription Agreement may be executed by any of the parties hereto, the parties expressly agree that all the terms and provisions hereof shall be construed under the laws of the State of Delaware. Any action or proceeding brought by the SPV or any SPV service provider against one or more investors in the SPV relating in any way to this Subscription Agreement or the LLC Agreement may, and any action or proceeding brought by any other party against the SPV or any SPV service provider relating in any way to this Subscription Agreement or the Company Information shall, be brought and enforced in the state courts of the State of Delaware located in Wilmington or (to the extent subject matter jurisdiction exists therefore) in the courts of the United States located in the District of Delaware; and the Investor and the SPV irrevocably submit to the jurisdiction of both such state and federal courts in respect of any such action or proceeding. The Investor and the SPV irrevocably waive, to the fullest extent permitted by law, any objection that they may now or hereafter have to laying the venue of any such action or proceeding in the courts of the State of Delaware located in Wilmington or in the courts of the United States located in the District of Delaware and any claim that any such action or proceeding brought in any such court has been brought in an inconvenient forum.

9.10. **Severability.** If any provision of this Subscription Agreement is invalid or unenforceable under any applicable law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such applicable law. Any provision hereof that may be held invalid or unenforceable under any applicable law shall not affect the validity or enforceability of any other provisions hereof, and to this extent the provisions hereof shall be severable.

9.11. **Headings.** The headings in this Subscription Agreement are for convenience of reference only, and shall not limit or otherwise affect the meaning hereof.

9.12. **General.** This Subscription Agreement shall be binding upon the Investor and the legal representatives, successors and assigns of the Investor, shall survive the admission of the Investor as a member of a SPV, and shall, if the Investor consists of more than one person, be the joint and several obligation of all such persons.

The undersigned have executed this instrument as of the date first above written.

**SPV**

**BYGMusic I EB, as series of Wefunder SPV, LLC**

**By: Wefunder Admin, LLC, its Manager**

By: *Founder Signature*

Date:

Name: **Nicholas Tommarello**

Title: **Chief Executive Officer**

**Investor**

**[INVESTOR NAME]**

By: *Investor Signature*

Date:

CONTACT INFORMATION:

Name: **[INVESTOR NAME]**

Mailing Address:

City:

Country:

E-mail:

TERMS APPENDIX FOR THE PURCHASE OF BYGMusic LLC
SECURITIES BY BYGMusic | EB, A SERIES OF WEFUNDER
SPV, LLC, A DELAWARE LIMITED LIABILITY COMPANY

**Type of Security:** Future Equity

**Terms** $10.5M valuation cap

To view a copy of the contract, please see **Appendix B, Investor Contracts** of the Form C. The latest Form C or C/A filing be found here:
https://www.sec.gov/cgi-bin/srch-edgar?text=%28FORM-TYPE%3DC%2FA+or+FORM-TYPE%3DC%29+and+CIK%3D0001909043&first=2016

**Attachment 5:** `document_5.pdf`

THIS INSTRUMENT AND ANY SECURITIES ISSUABLE PURSUANT HERETO HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED IN THIS SAFE AND UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN EXEMPTION THEREFROM.

# BYGMusic LLC

# SAFE

# (Simple Agreement for Future Equity)

THIS CERTIFIES THAT in exchange for the payment by [INVESTOR NAME] (the "Investor") of [INVESTMENT AMOUNT] (the "Purchase Amount") on or about [EFFECTIVE DATE], BYGMusic LLC, a California limited liability company (the "Company"), hereby issues to the Investor the right to certain units, subject to the terms described below.

This Safe is one of the forms available at http://ycombinator.com/documents and the Company and the Investor agree that neither one has modified the form, except to fill in blanks and bracketed terms, and remove the requirement to be accredited investor and make the form applicable to a limited liability company.

The "Post-Money Valuation Cap" is $14,000,000

The "Discount Rate" is 100%

See Section 2 for certain additional defined terms.

# 1. Events

(a) Equity Financing. If there is an Equity Financing before the termination of this Safe, on the initial closing of such Equity Financing, this Safe will automatically convert into the number of Safe Preferred Units equal to the Purchase Amount divided by the Conversion Price.

In connection with the automatic conversion of this Safe into Safe Preferred Units, the Investor will execute and deliver to the Company all of the transaction documents related to the Equity Financing; provided, that such documents (i) are the same documents to be entered into with the purchasers of Standard Preferred Units, with appropriate variations for the Safe Preferred Units if applicable, and (ii) have customary exceptions to any drag-along applicable to the Investor, including (without limitation) limited representations, warranties, liability and indemnification obligations for the Investor.

(b) Liquidity Event. If there is a Liquidity Event before the termination of this Safe, this Safe will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds, due and payable to the Investor immediately prior to, or concurrent with, the consummation of such Liquidity Event, equal to the greater of (i) the Purchase Amount (the "Cash-Out Amount") or (ii) the amount payable on the number of units of Common Units equal to the Purchase Amount divided by the Liquidity Price (the "Conversion Amount"). If any of the Company's securityholders are given a choice as to the form and amount of Proceeds to be received in a Liquidity Event, the Investor will be given the same choice, provided that the Investor may not choose to receive a form of consideration that the Investor would be ineligible to receive as a result of the Investor's failure to satisfy any requirement or limitation generally applicable to the Company's securityholders, or under any applicable laws.

Notwithstanding the foregoing, in connection with a Change of Control intended to qualify as a tax-free reorganization, the Company may reduce the cash portion of Proceeds payable to the Investor by the amount determined by its board of directors in good faith for such Change of Control to qualify as a tax-free reorganization for U.S. federal income tax purposes, provided that such reduction (A) does not reduce the total Proceeds payable to such Investor and (B) is applied in the same manner and on a pro rata basis to all securityholders who have equal priority to the Investor under Section 1(d).

In connection with Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay (i) holders of units of any series of Preferred Units issued before the date of this instrument ("Senior Preferred Holders") and (ii) the Investor and holders of other Safes (collectively, the "Cash-Out Investors") in full, then all of the Company's available funds will be distributed (i) first to the Senior Preferred Holders and (ii) second with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts, and the Cash-Out Investors will automatically receive the number of units of Common Units equal to the remaining unpaid Purchase Amount divided by the Liquidity Price. In connection with a Change of Control intended to qualify as a tax-free reorganization, the Company may reduce, pro rata, the Purchase Amounts payable to the Cash-Out Investors by the amount determined by the Board in good faith to be advisable for such Change of Control to qualify as a tax-free reorganization for U.S. federal income tax purposes, and in such case, the Cash-Out Investors will automatically receive the number of units of Common Units equal to the remaining unpaid Purchase Amount divided by the Liquidity Price.

(c) Dissolution Event. If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

(d) Liquidation Priority. In a Liquidity Event or Dissolution Event, this Safe is intended to operate like standard non-participating Preferred Units. The Investor's right to receive its Cash-Out Amount is:

(i) Junior to payment of outstanding indebtedness and creditor claims, including contractual claims for payment and convertible promissory notes (to the extent such convertible promissory notes are not actually or notionally converted into Units);

(ii) On par with payments for other Safes and/or Preferred Units, and if the applicable Proceeds are insufficient to permit full payments to the Investor and such other Safes and/or Preferred Units, the applicable Proceeds will be distributed pro rata to the Investor and such other Safes and/or Preferred Units in proportion to the full payments that would otherwise be due; and

(iii) Senior to payments for Common Units.

The Investor's right to receive its Conversion Amount is (A) on par with payments for Common Units and other Safes and/or Preferred Units who are also receiving Conversion Amounts or Proceeds on a similar as-converted to Common Units basis, and (B) junior to payments described in clauses (i) and (ii) above (in the latter case, to the extent

such payments are Cash-Out Amounts or similar liquidation preferences).

( e ) **Termination.** This Safe will automatically terminate (without relieving the Company of any obligations arising from a prior breach of or non-compliance with this Safe) immediately following the earliest to occur of: (i) the issuance of Capital Units to the Investor pursuant to the automatic conversion of this Safe under Section 1(a); or (ii) the payment, or setting aside for payment, of amounts due the Investor pursuant to Section 1(b) or Section 1(c).

## 2. Definitions

"**Capital Stock**" means the capital stock of the Company, including, without limitation, the "Common Units" and the "Preferred Units."

"**Change of Control**" means (i) a transaction or series of related transactions in which any "person" or "group" (within the meaning of Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), becomes the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of more than 50% of the outstanding voting securities of the Company having the right to vote for the election of members of the Company's board of directors, (ii) any reorganization, merger or consolidation of the Company, other than a transaction or series of related transactions in which the holders of the voting securities of the Company outstanding immediately prior to such transaction or series of related transactions retain, immediately after such transaction or series of related transactions, at least a majority of the total voting power represented by the outstanding voting securities of the Company or such other surviving or resulting entity or (iii) a sale, lease or other disposition of all or substantially all of the assets of the Company.

"**Company Capitalization**" is calculated as of immediately prior to the Equity Financing and (without double-counting, in each case calculated on an as-converted to Common Units basis):

- Includes all Units issued and outstanding;
- Includes all Converting Securities;
- Includes all (i) issued and outstanding Options and (ii) Promised Options; and
- Includes the Unissued Option Pool, except that any increase to the Unissued Option Pool in connection with the Equity Financing shall only be included to the extent that the number of Promised Options exceeds the Unissued Option Pool prior to such increase.

"**Conversion Price**" means either: (1) the Safe Price or (2) the Discount Price, whichever calculation results in a greater number of Safe Preferred Units.

"**Converting Securities**" includes this Safe and other convertible securities issued by the Company, including but not limited to: (i) other Safes; (ii) convertible promissory notes and other convertible debt instruments; and (iii) convertible securities that have the right to convert into Units.

"**Direct Listing**" means the Company's initial listing of its Common Units (other than Common Units not eligible for resale under Rule 144 under the Securities Act) on a national securities exchange by means of an effective registration statement on Form S-1 filed by the Company with the SEC that registers shares of existing Units of the Company for resale, as approved by the Company's board of directors. For the avoidance of doubt, a Direct Listing shall not be deemed to be an underwritten offering and shall not involve any underwriting services.

"**Discount Price**" means the price per units of the Standard Preferred Units sold in the Equity Financing multiplied by the Discount Rate.

"**Dissolution Event**" means (i) a voluntary termination of operations, (ii) a general assignment for the benefit of the Company's creditors or (iii) any other liquidation, dissolution or winding up of the Company (**excluding** a Liquidity Event), whether voluntary or involuntary.

"**Dividend Amount**" means, with respect to any date on which the Company pays a dividend on its outstanding Common Units, the amount of such dividend that is paid per share of Common Units multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

"**Equity Financing**" means a bona fide transaction or series of transactions with the principal purpose of raising capital, pursuant to which the Company issues and sells Preferred Units at a fixed valuation, including but not limited to, a pre-money or post-money valuation.

"**Initial Public Offering**" means the closing of the Company's first firm commitment underwritten initial public offering of Common Units pursuant to a registration statement filed under the Securities Act.

"**Liquidity Capitalization**" is calculated as of immediately prior to the Liquidity Event, and (without double-counting, in each case calculated on an as-converted to Common Units basis):

- Includes all Units issued and outstanding;
- Includes all (i) issued and outstanding Options and (ii) to the extent receiving Proceeds, Promised Options;
- Includes all Converting Securities, **other than** any Safes and other convertible securities (including without limitation of Preferred Units) where the holders of such securities are receiving Cash-Out Amounts or similar liquidation preference payments in lieu of Conversion Amounts or similar "as-converted" payments; and
- Excludes the Unissued Option Pool.

"**Liquidity Event**" means a Change of Control or an Initial Public Offering.

"**Liquidity Price**" means the price per unit equal to the Valuation Cap divided by the Liquidity Capitalization.

"**Options**" includes options, RSUs, SARs, warrants or similar securities, vested or unvested.

"**Proceeds**" means cash and other assets (including without limitation stock consideration) that are proceeds from the Liquidity Event or the Dissolution Event, as applicable, and legally available for distribution.

"**Promised Options**" means promised but ungranted Options that are the greater of those (i) promised pursuant to agreements or understandings made prior to the execution of, or in connection with, the term sheet or letter of intent for the Equity Financing or Liquidity Event, as applicable (or the initial closing of the Equity Financing or consummation of the Liquidity Event, if there is no term sheet or letter of intent), (ii) in the case of an Equity Financing, treated as outstanding Options in the calculation of the Standard Preferred Unit's price per unit, or (iii) in the case of a Liquidity Event, treated as outstanding Options in the calculation of the distribution of the Proceeds.

'Safe' means an instrument containing a future right to Units, similar in form and content to this instrument, purchased by investors for the purpose of funding the Company's business operations. References to 'this Safe' mean this specific instrument.

'Safe Preferred Units' means the units of the series of Preferred Units issued to the Investor in an Equity Financing, having the identical rights, privileges, preferences and restrictions as the Standard Preferred Units, other than with respect to: (i) the per unit liquidation preference and the initial conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the basis for any dividend rights, which will be based on the Conversion Price.

'Safe Price' means the price per unit equal to the Post-Money Valuation Cap divided by the Company Capitalization.

'Standard Preferred Units' means the shares of the series of Preferred Units issued to the investors investing new money in the Company in connection with the initial closing of the Equity Financing.

'Unissued Option Pool' means all Units that are reserved, available for future grant and not subject to any outstanding Options or Promised Options (but in the case of a Liquidity Event, only to the extent Proceeds are payable on such Promised Options) under any equity incentive or similar Company plan.

'Units' means the equity interests of the Company, including, without limitation, the 'Common Units' and 'Preferred Units'.

### 3. Company Representations

(a) The Company is a limited liability company duly organized, validly existing and in good standing under the laws of its state of limited liability company (the 'Company'), hereby issues to the Investor the right to certain formation, and has the power and authority to own, lease and operate its properties and carry on its business as now conducted.

(b) The execution, delivery and performance by the Company of this Safe is within the power of the Company and has been duly authorized by all necessary actions on the part of the Company (subject to section 3(d)). This Safe constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors' rights generally and general principles of equity. To its knowledge, the Company is not in violation of (i) its certificate of formation or operating agreement, (ii) any material statute, rule or regulation applicable to the Company or (iii) any material debt or contract to which the Company is a party or by which it is bound, where, in each case, such violation or default, individually, or together with all such violations or defaults, could reasonably be expected to have a material adverse effect on the Company.

(c) The performance and consummation of the transactions contemplated by this Safe do not and will not: (i) violate any material judgment, statute, rule or regulation applicable to the Company; (ii) result in the acceleration of any material debt or contract to which the Company is a party or by which it is bound; or (iii) result in the creation or imposition of any lien on any property, asset or revenue of the Company or the suspension, forfeiture, or nonrenewal of any material permit, license or authorization applicable to the Company, its business or operations.

(d) No consents or approvals are required in connection with the performance of this Safe, other than: (i) the Company's corporate approvals; (ii) any qualifications or filings under applicable securities laws; and (iii) necessary corporate approvals for the authorization of Units issuable pursuant to Section 1.

(e) To its knowledge, the Company owns or possesses (or can obtain on commercially reasonable terms) sufficient legal rights to all patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses, information, processes and other intellectual property rights necessary for its business as now conducted and as currently proposed to be conducted, without any conflict with, or infringement of the rights of, others.

### 4. Investor Representations

(a) The Investor has full legal capacity, power and authority to execute and deliver this Safe and to perform its obligations hereunder. This Safe constitutes valid and binding obligation of the Investor, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors' rights generally and general principles of equity.

(b) The Investor has been advised that this Safe and the underlying securities have not been registered under the Securities Act, or any state securities laws and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state securities laws or unless an exemption from such registration requirements is available. The Investor is purchasing this Safe and the securities to be acquired by the Investor hereunder for its own account for investment, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and the Investor has no present intention of selling, granting any participation in, or otherwise distributing the same. The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of such investment, is able to incur a complete loss of such investment without impairing the Investor's financial condition and is able to bear the economic risk of such investment for an indefinite period of time.

### 5. Miscellaneous

(a) Any provision of this Safe may be amended, waived or modified by written consent of the Company and either (i) the Investor or (ii) the majority-in-interest of all then-outstanding Safes with the same 'Post-Money Valuation Cap' and 'Discount Rate' as this Safe (and Safes lacking one or both of such terms will be considered to be the same with respect to such term(s)), provided that with respect to clause (ii): (A) the Purchase Amount may not be amended, waived or modified in this manner, (B) the consent of the Investor and each holder of such Safes must be solicited (even if not obtained), and (C) such amendment, waiver or modification treats all such holders in the same manner. 'Majority-in-interest' refers to the holders of the applicable group of Safes whose Safes have a total Purchase Amount greater than 50% of the total Purchase Amount of all of such applicable group of Safes.

(b) Any notice required or permitted by this Safe will be deemed sufficient when delivered personally or by overnight courier or sent by email to the relevant address listed on their Wefunder account, or 48 hours after being deposited in the U.S. mail as certified or registered mail with postage prepaid, addressed to the party to be notified at such party's address listed on their Wefunder account, as subsequently modified by written notice.

(c) The Investor is not entitled, as a holder of this Safe, to vote or be deemed a holder of Units for any purpose other than tax purposes, nor will anything in this Safe be construed to confer on the Investor, as such, any rights of a Company member or rights to vote for the election of directors or on any matter submitted to Company

members, or to give or withhold consent to any corporate action or to receive notice of meetings, until units have been issued on the terms described in Section 1. However, if the Company pays a dividend on outstanding shares of Common Units (that is not payable in shares of Common Units) while this Safe is outstanding, the Company will pay the Dividend Amount to the Investor at the same time.

(d) Neither this Safe nor the rights in this Safe are transferable or assignable, by operation of law or otherwise, by either party without the prior written consent of the other; provided, however, that this Safe and/or its rights may be assigned without the Company's consent by the Investor (i) to the Investor's estate, heirs, executors, administrators, guardians and/or successors in the event of Investor's death or disability, or (ii) to any other entity who directly or indirectly, controls, is controlled by or is under common control with the Investor, including, without limitation, any general partner, managing member, officer or director of the Investor, or any venture capital fund now or hereafter existing which is controlled by one or more general partners or managing members of, or shares the same management company with, the Investor; and provided, further, that the Company may assign this Safe in whole, without the consent of the Investor, in connection with a reorganization to change the Company's domicile or convert the Company into a corporation.

(e) In the event any one or more of the provisions of this Safe is for any reason held to be invalid, illegal or unenforceable, in whole or in part or in any respect, or in the event that any one or more of the provisions of this Safe operate or would prospectively operate to invalidate this Safe, then and in any such event, such provision(s) only will be deemed null and void and will not affect any other provision of this Safe and the remaining provisions of this Safe will remain operative and in full force and effect and will not be affected, prejudiced, or disturbed thereby.

(f) All rights and obligations hereunder will be governed by the laws of the State of California, without regard to the conflicts of law provisions of such jurisdiction.

(g) The parties acknowledge and agree that for United States federal and state income tax purposes this Safe is, and at all times has been, intended to be characterized equity for all income tax purposes of. Accordingly, the parties agree to treat this Safe consistent with the foregoing intent for all United States federal and state income tax purposes (including, without limitation, on their respective tax returns or other informational statements).

*(Signature page follows)*

IN WITNESS WHEREOF, the undersigned have caused this instrument to be duly executed and delivered.

**COMPANY:**

BYGMusic LLC

By: *Founder Signature*

Name:

Title:

**INVESTOR:**

[INVESTOR NAME]

By: *Investor Signature*

Name: [INVESTOR NAME]

Title:

☐ Accredited Investor
☐ Unaccredited Investor

**Read and Approved (for IRA use only)**

By:

Name:

**Attachment 6:** `document_6.pdf`

THIS INSTRUMENT AND ANY SECURITIES ISSUABLE PURSUANT HERETO HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR UNDER THE SECURITIES LAWS OF CERTAIN STATES. THESE SECURITIES MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED EXCEPT AS PERMITTED IN THIS SAFE AND UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN EXEMPTION THEREFROM.

# BYGMusic LLC

# SAFE

# (Simple Agreement for Future Equity)

THIS CERTIFIES THAT in exchange for the payment by [INVESTOR NAME] (the "Investor") of [INVESTMENT AMOUNT] (the "Purchase Amount") on or about [EFFECTIVE DATE], BYGMusic LLC, a California limited liability company (the "Company"), hereby issues to the Investor the right to certain units, subject to the terms described below.

This Safe is one of the forms available at http://ycombinator.com/documents and the Company and the Investor agree that neither one has modified the form, except to fill in blanks and bracketed terms, and remove the requirement to be accredited investor and make the form applicable to a limited liability company.

The "Post-Money Valuation Cap" is $10,500,000

The "Discount Rate" is 100%

See Section 2 for certain additional defined terms.

# 1. Events

(a) Equity Financing. If there is an Equity Financing before the termination of this Safe, on the initial closing of such Equity Financing, this Safe will automatically convert into the number of Safe Preferred Units equal to the Purchase Amount divided by the Conversion Price.

In connection with the automatic conversion of this Safe into Safe Preferred Units, the Investor will execute and deliver to the Company all of the transaction documents related to the Equity Financing; provided, that such documents (i) are the same documents to be entered into with the purchasers of Standard Preferred Units, with appropriate variations for the Safe Preferred Units if applicable, and (ii) have customary exceptions to any drag-along applicable to the Investor, including (without limitation) limited representations, warranties, liability and indemnification obligations for the Investor.

(b) Liquidity Event. If there is a Liquidity Event before the termination of this Safe, this Safe will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds, due and payable to the Investor immediately prior to, or concurrent with, the consummation of such Liquidity Event, equal to the greater of (i) the Purchase Amount (the "Cash-Out Amount") or (ii) the amount payable on the number of units of Common Units equal to the Purchase Amount divided by the Liquidity Price (the "Conversion Amount"). If any of the Company's securityholders are given a choice as to the form and amount of Proceeds to be received in a Liquidity Event, the Investor will be given the same choice, provided that the Investor may not choose to receive a form of consideration that the Investor would be ineligible to receive as a result of the Investor's failure to satisfy any requirement or limitation generally applicable to the Company's securityholders, or under any applicable laws.

Notwithstanding the foregoing, in connection with a Change of Control intended to qualify as a tax-free reorganization, the Company may reduce the cash portion of Proceeds payable to the Investor by the amount determined by its board of directors in good faith for such Change of Control to qualify as a tax-free reorganization for U.S. federal income tax purposes, provided that such reduction (A) does not reduce the total Proceeds payable to such Investor and (B) is applied in the same manner and on a pro rata basis to all securityholders who have equal priority to the Investor under Section 1(d).

In connection with Section 1(b)(i), the Purchase Amount will be due and payable by the Company to the Investor immediately prior to, or concurrent with, the consummation of the Liquidity Event. If there are not enough funds to pay (i) holders of units of any series of Preferred Units issued before the date of this instrument ("Senior Preferred Holders") and (ii) the Investor and holders of other Safes (collectively, the "Cash-Out Investors") in full, then all of the Company's available funds will be distributed (i) first to the Senior Preferred Holders and (ii) second with equal priority and pro rata among the Cash-Out Investors in proportion to their Purchase Amounts, and the Cash-Out Investors will automatically receive the number of units of Common Units equal to the remaining unpaid Purchase Amount divided by the Liquidity Price. In connection with a Change of Control intended to qualify as a tax-free reorganization, the Company may reduce, pro rata, the Purchase Amounts payable to the Cash-Out Investors by the amount determined by the Board in good faith to be advisable for such Change of Control to qualify as a tax-free reorganization for U.S. federal income tax purposes, and in such case, the Cash-Out Investors will automatically receive the number of units of Common Units equal to the remaining unpaid Purchase Amount divided by the Liquidity Price.

(c) Dissolution Event. If there is a Dissolution Event before the termination of this Safe, the Investor will automatically be entitled (subject to the liquidation priority set forth in Section 1(d) below) to receive a portion of Proceeds equal to the Cash-Out Amount, due and payable to the Investor immediately prior to the consummation of the Dissolution Event.

(d) Liquidation Priority. In a Liquidity Event or Dissolution Event, this Safe is intended to operate like standard non-participating Preferred Units. The Investor's right to receive its Cash-Out Amount is:

(i) Junior to payment of outstanding indebtedness and creditor claims, including contractual claims for payment and convertible promissory notes (to the extent such convertible promissory notes are not actually or notionally converted into Units);

(ii) On par with payments for other Safes and/or Preferred Units, and if the applicable Proceeds are insufficient to permit full payments to the Investor and such other Safes and/or Preferred Units, the applicable Proceeds will be distributed pro rata to the Investor and such other Safes and/or Preferred Units in proportion to the full payments that would otherwise be due; and

(iii) Senior to payments for Common Units.

The Investor's right to receive its Conversion Amount is (A) on par with payments for Common Units and other Safes and/or Preferred Units who are also receiving Conversion Amounts or Proceeds on a similar as-converted to Common Units basis, and (B) junior to payments described in clauses (i) and (ii) above (in the latter case, to the extent

such payments are Cash-Out Amounts or similar liquidation preferences).

( e ) **Termination.** This Safe will automatically terminate (without relieving the Company of any obligations arising from a prior breach of or non-compliance with this Safe) immediately following the earliest to occur of: (i) the issuance of Capital Units to the Investor pursuant to the automatic conversion of this Safe under Section 1(a); or (ii) the payment, or setting aside for payment, of amounts due the Investor pursuant to Section 1(b) or Section 1(c).

## 2. Definitions

"**Capital Stock**" means the capital stock of the Company, including, without limitation, the "Common Units" and the "Preferred Units."

"**Change of Control**" means (i) a transaction or series of related transactions in which any "person" or "group" (within the meaning of Section 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), becomes the "beneficial owner" (as defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of more than 50% of the outstanding voting securities of the Company having the right to vote for the election of members of the Company's board of directors, (ii) any reorganization, merger or consolidation of the Company, other than a transaction or series of related transactions in which the holders of the voting securities of the Company outstanding immediately prior to such transaction or series of related transactions retain, immediately after such transaction or series of related transactions, at least a majority of the total voting power represented by the outstanding voting securities of the Company or such other surviving or resulting entity or (iii) a sale, lease or other disposition of all or substantially all of the assets of the Company.

"**Company Capitalization**" is calculated as of immediately prior to the Equity Financing and (without double-counting, in each case calculated on an as-converted to Common Units basis):

- Includes all Units issued and outstanding;
- Includes all Converting Securities;
- Includes all (i) issued and outstanding Options and (ii) Promised Options; and
- Includes the Unissued Option Pool, except that any increase to the Unissued Option Pool in connection with the Equity Financing shall only be included to the extent that the number of Promised Options exceeds the Unissued Option Pool prior to such increase.

"**Conversion Price**" means either: (1) the Safe Price or (2) the Discount Price, whichever calculation results in a greater number of Safe Preferred Units.

"**Converting Securities**" includes this Safe and other convertible securities issued by the Company, including but not limited to: (i) other Safes; (ii) convertible promissory notes and other convertible debt instruments; and (iii) convertible securities that have the right to convert into Units.

"**Direct Listing**" means the Company's initial listing of its Common Units (other than Common Units not eligible for resale under Rule 144 under the Securities Act) on a national securities exchange by means of an effective registration statement on Form S-1 filed by the Company with the SEC that registers shares of existing Units of the Company for resale, as approved by the Company's board of directors. For the avoidance of doubt, a Direct Listing shall not be deemed to be an underwritten offering and shall not involve any underwriting services.

"**Discount Price**" means the price per units of the Standard Preferred Units sold in the Equity Financing multiplied by the Discount Rate.

"**Dissolution Event**" means (i) a voluntary termination of operations, (ii) a general assignment for the benefit of the Company's creditors or (iii) any other liquidation, dissolution or winding up of the Company (**excluding** a Liquidity Event), whether voluntary or involuntary.

"**Dividend Amount**" means, with respect to any date on which the Company pays a dividend on its outstanding Common Units, the amount of such dividend that is paid per share of Common Units multiplied by (x) the Purchase Amount divided by (y) the Liquidity Price (treating the dividend date as a Liquidity Event solely for purposes of calculating such Liquidity Price).

"**Equity Financing**" means a bona fide transaction or series of transactions with the principal purpose of raising capital, pursuant to which the Company issues and sells Preferred Units at a fixed valuation, including but not limited to, a pre-money or post-money valuation.

"**Initial Public Offering**" means the closing of the Company's first firm commitment underwritten initial public offering of Common Units pursuant to a registration statement filed under the Securities Act.

"**Liquidity Capitalization**" is calculated as of immediately prior to the Liquidity Event, and (without double-counting, in each case calculated on an as-converted to Common Units basis):

- Includes all Units issued and outstanding;
- Includes all (i) issued and outstanding Options and (ii) to the extent receiving Proceeds, Promised Options;
- Includes all Converting Securities, **other than** any Safes and other convertible securities (including without limitation of Preferred Units) where the holders of such securities are receiving Cash-Out Amounts or similar liquidation preference payments in lieu of Conversion Amounts or similar "as-converted" payments; and
- Excludes the Unissued Option Pool.

"**Liquidity Event**" means a Change of Control or an Initial Public Offering.

"**Liquidity Price**" means the price per unit equal to the Valuation Cap divided by the Liquidity Capitalization.

"**Options**" includes options, RSUs, SARs, warrants or similar securities, vested or unvested.

"**Proceeds**" means cash and other assets (including without limitation stock consideration) that are proceeds from the Liquidity Event or the Dissolution Event, as applicable, and legally available for distribution.

"**Promised Options**" means promised but ungranted Options that are the greater of those (i) promised pursuant to agreements or understandings made prior to the execution of, or in connection with, the term sheet or letter of intent for the Equity Financing or Liquidity Event, as applicable (or the initial closing of the Equity Financing or consummation of the Liquidity Event, if there is no term sheet or letter of intent), (ii) in the case of an Equity Financing, treated as outstanding Options in the calculation of the Standard Preferred Unit's price per unit, or (iii) in the case of a Liquidity Event, treated as outstanding Options in the calculation of the distribution of the Proceeds.

'Safe' means an instrument containing a future right to Units, similar in form and content to this instrument, purchased by investors for the purpose of funding the Company's business operations. References to 'this Safe' mean this specific instrument.

'Safe Preferred Units' means the units of the series of Preferred Units issued to the Investor in an Equity Financing, having the identical rights, privileges, preferences and restrictions as the Standard Preferred Units, other than with respect to: (i) the per unit liquidation preference and the initial conversion price for purposes of price-based anti-dilution protection, which will equal the Conversion Price; and (ii) the basis for any dividend rights, which will be based on the Conversion Price.

'Safe Price' means the price per unit equal to the Post-Money Valuation Cap divided by the Company Capitalization.

'Standard Preferred Units' means the shares of the series of Preferred Units issued to the investors investing new money in the Company in connection with the initial closing of the Equity Financing.

'Unissued Option Pool' means all Units that are reserved, available for future grant and not subject to any outstanding Options or Promised Options (but in the case of a Liquidity Event, only to the extent Proceeds are payable on such Promised Options) under any equity incentive or similar Company plan.

'Units' means the equity interests of the Company, including, without limitation, the 'Common Units' and 'Preferred Units'.

### 3. Company Representations

(a) The Company is a limited liability company duly organized, validly existing and in good standing under the laws of its state of limited liability company (the 'Company'), hereby issues to the Investor the right to certain formation, and has the power and authority to own, lease and operate its properties and carry on its business as now conducted.

(b) The execution, delivery and performance by the Company of this Safe is within the power of the Company and has been duly authorized by all necessary actions on the part of the Company (subject to section 3(d)). This Safe constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors' rights generally and general principles of equity. To its knowledge, the Company is not in violation of (i) its certificate of formation or operating agreement, (ii) any material statute, rule or regulation applicable to the Company or (iii) any material debt or contract to which the Company is a party or by which it is bound, where, in each case, such violation or default, individually, or together with all such violations or defaults, could reasonably be expected to have a material adverse effect on the Company.

(c) The performance and consummation of the transactions contemplated by this Safe do not and will not: (i) violate any material judgment, statute, rule or regulation applicable to the Company; (ii) result in the acceleration of any material debt or contract to which the Company is a party or by which it is bound; or (iii) result in the creation or imposition of any lien on any property, asset or revenue of the Company or the suspension, forfeiture, or nonrenewal of any material permit, license or authorization applicable to the Company, its business or operations.

(d) No consents or approvals are required in connection with the performance of this Safe, other than: (i) the Company's corporate approvals; (ii) any qualifications or filings under applicable securities laws; and (iii) necessary corporate approvals for the authorization of Units issuable pursuant to Section 1.

(e) To its knowledge, the Company owns or possesses (or can obtain on commercially reasonable terms) sufficient legal rights to all patents, trademarks, service marks, trade names, copyrights, trade secrets, licenses, information, processes and other intellectual property rights necessary for its business as now conducted and as currently proposed to be conducted, without any conflict with, or infringement of the rights of, others.

### 4. Investor Representations

(a) The Investor has full legal capacity, power and authority to execute and deliver this Safe and to perform its obligations hereunder. This Safe constitutes valid and binding obligation of the Investor, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or other laws of general application relating to or affecting the enforcement of creditors' rights generally and general principles of equity.

(b) The Investor has been advised that this Safe and the underlying securities have not been registered under the Securities Act, or any state securities laws and, therefore, cannot be resold unless they are registered under the Securities Act and applicable state securities laws or unless an exemption from such registration requirements is available. The Investor is purchasing this Safe and the securities to be acquired by the Investor hereunder for its own account for investment, not as a nominee or agent, and not with a view to, or for resale in connection with, the distribution thereof, and the Investor has no present intention of selling, granting any participation in, or otherwise distributing the same. The Investor has such knowledge and experience in financial and business matters that the Investor is capable of evaluating the merits and risks of such investment, is able to incur a complete loss of such investment without impairing the Investor's financial condition and is able to bear the economic risk of such investment for an indefinite period of time.

### 5. Miscellaneous

(a) Any provision of this Safe may be amended, waived or modified by written consent of the Company and either (i) the Investor or (ii) the majority-in-interest of all then-outstanding Safes with the same 'Post-Money Valuation Cap' and 'Discount Rate' as this Safe (and Safes lacking one or both of such terms will be considered to be the same with respect to such term(s)), provided that with respect to clause (ii): (A) the Purchase Amount may not be amended, waived or modified in this manner, (B) the consent of the Investor and each holder of such Safes must be solicited (even if not obtained), and (C) such amendment, waiver or modification treats all such holders in the same manner. 'Majority-in-interest' refers to the holders of the applicable group of Safes whose Safes have a total Purchase Amount greater than 50% of the total Purchase Amount of all of such applicable group of Safes.

(b) Any notice required or permitted by this Safe will be deemed sufficient when delivered personally or by overnight courier or sent by email to the relevant address listed on their Wefunder account, or 48 hours after being deposited in the U.S. mail as certified or registered mail with postage prepaid, addressed to the party to be notified at such party's address listed on their Wefunder account, as subsequently modified by written notice.

(c) The Investor is not entitled, as a holder of this Safe, to vote or be deemed a holder of Units for any purpose other than tax purposes, nor will anything in this Safe be construed to confer on the Investor, as such, any rights of a Company member or rights to vote for the election of directors or on any matter submitted to Company

members, or to give or withhold consent to any corporate action or to receive notice of meetings, until units have been issued on the terms described in Section 1. However, if the Company pays a dividend on outstanding shares of Common Units (that is not payable in shares of Common Units) while this Safe is outstanding, the Company will pay the Dividend Amount to the Investor at the same time.

(d) Neither this Safe nor the rights in this Safe are transferable or assignable, by operation of law or otherwise, by either party without the prior written consent of the other; provided, however, that this Safe and/or its rights may be assigned without the Company's consent by the Investor (i) to the Investor's estate, heirs, executors, administrators, guardians and/or successors in the event of Investor's death or disability, or (ii) to any other entity who directly or indirectly, controls, is controlled by or is under common control with the Investor, including, without limitation, any general partner, managing member, officer or director of the Investor, or any venture capital fund now or hereafter existing which is controlled by one or more general partners or managing members of, or shares the same management company with, the Investor; and provided, further, that the Company may assign this Safe in whole, without the consent of the Investor, in connection with a reorganization to change the Company's domicile or convert the Company into a corporation.

(e) In the event any one or more of the provisions of this Safe is for any reason held to be invalid, illegal or unenforceable, in whole or in part or in any respect, or in the event that any one or more of the provisions of this Safe operate or would prospectively operate to invalidate this Safe, then and in any such event, such provision(s) only will be deemed null and void and will not affect any other provision of this Safe and the remaining provisions of this Safe will remain operative and in full force and effect and will not be affected, prejudiced, or disturbed thereby.

(f) All rights and obligations hereunder will be governed by the laws of the State of California, without regard to the conflicts of law provisions of such jurisdiction.

(g) The parties acknowledge and agree that for United States federal and state income tax purposes this Safe is, and at all times has been, intended to be characterized equity for all income tax purposes of. Accordingly, the parties agree to treat this Safe consistent with the foregoing intent for all United States federal and state income tax purposes (including, without limitation, on their respective tax returns or other informational statements).

*(Signature page follows)*

IN WITNESS WHEREOF, the undersigned have caused this instrument to be duly executed and delivered.

**COMPANY:**

BYGMusic LLC

By: *Founder Signature*

Name:

Title:

**INVESTOR:**

[INVESTOR NAME]

By: *Investor Signature*

Name: [INVESTOR NAME]

Title:

☐ Accredited Investor
☐ Unaccredited Investor

**Read and Approved (for IRA use only)**

By:

Name:

**Attachment 7:** `document_7.pdf`

THE BIG BIRTHDAY

## Here at BYGMusic, we come from a love of music.

When our founder and CEO Krish Sharma set out to launch BYGMusic, his personal love and passion for music became our foundation and ethos. Today, we strongly believe in the power and passion that music brings to the world, and we are here to help connect artists and their highly engaged fan base with brands--giving artists the opportunity to earn income and continue creating to the music we love.

### We're getting amped up for the future.

As members of the BYGMusic family, we know you share this passion with us. So today, we're sharing some epic news that is going to transform the future of our company: we're launching an equity crowdfunding campaign on WeFunder. This is an amazing opportunity for those who believe in the power of music and the work we do at BYGMusic to join us in empowering artists to take control of their financial futures through brand partnerships.

LEARN MORE

Copyright © 2021 Bygmusic. All rights reserved.
You are receiving this email because we think you're pretty cool.

Our mailing address is:
Bygmusic
2210 main st
santé moines, IA 50309

Add us to your address book

Want to change how you receive these emails?
You can update your preferences or consult a free from this list

4/13/22, 5:05 PM

Bygmusic Mail - Re: A Modern Music Company Built for the Creator Age

BYG

music

Wefunder BYGMusic <wefunder@bygmusic.com>

# Re: A Modern Music Company Built for the Creator Age

1 message

NFX Investment Team <investment@nfx.com>

To: wefunder@bygmusic.com

Mon, Dec 20, 2021 at 2:28 PM

BYGMusic,

Thank you for reaching out, and for your interest in NFX.

This looks really cool, and we bet it will be a big hit. Unfortunately, this isn't a sector we are focused on investing in, so this won't be a fit for us.

We were Founders ourselves before we became investors, so we wanted to build something to help even when we can't invest.

Signal is a place to find active investors in your stage and sector. It's a tool we wish we had had when we were founders. By connecting your GMail, you can see your connections to VC's easily. Hope you find it useful.

Also note that sending intros to investors can be more efficient by sending them a link to your private BriefLink. We've seen that sending your BriefLink URL to investors you find on Signal can make a big difference in getting more meetings with the right investors.

Best,

James, Pete, Gigi, Morgan, Omri, Gita, & Sarai

On Tue, Dec 14, 2021 at 9:52 AM <investment@nfx.com> wrote:

---

 Forwarded message ---

From: wefunder@bygmusic.com

Date: Tue, Dec 14, 2021 at 2:59 PM

Subject: A Modern Music Company Built for the Creator Age

To: james@nfx.com

View this email in your browser

# Here at BYGMusic, we come from a love of music.

When our founder and CEO Krish Sharma set out to launch BYGMusic, his personal love and passion for music became our foundation and ethos. Today, we strongly believe in the power and passion that music brings to the world, and we are here to help connect artists and their highly engaged fan base with brands-giving artists the opportunity to earn income and continue creating to the music we love.

We're getting amped up for the future.

https://mail.google.com/mail/u/0/?ik=2a279420ee&view=pt&search=all&permthid=thread-f%3A1719705844741196443&simpl=msg-f%3A1719705844...

1/2

4/13/22, 5:05 PM

Bygmusic Mail - Re: A Modern Music Company Built for the Creator Age

As members of the BYGMusic family, we know you share this passion with us. So today, we're sharing some epic news that is going to transform the future of our company: we're launching an equity crowdfunding campaign on WeFunder. This is an amazing opportunity for those who believe in the power of music and the work we do at BYGMusic to join us in empowering artists to take control of their financial futures through brand partnerships.

# LEARN MORE

Copyright © 2021 Bygmusic. All rights reserved.
You are receiving this email because we think you're pretty cool.

Our mailing address is:

Bygmusic

2219 main st

santa monica, CA 90405

Add us to your address book

Want to change how you receive these emails?

You can update your preferences or unsubscribe from this list

![img-0.jpeg](img-0.jpeg)

# NFX Investment Team

Visit Us: www.nfx.com

BriefLink: Present a company to NFX.

Signal: Connect to share investments.

https://mail.google.com/mail/u0/?ik=2a279420ee&view=pt&search=all&permthid=thread-f%3A1719705844741196443&simpl=msg-f%3A1719705844...

2/2

4/13/22, 4:47 PM

Bygmusic Mail - Re: Hey!

BYG

music

bygo - on the road

Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

# Re: Hey!

1 message

Sunil SHARMA <sunil.sharma.one@gmail.com></sunil.sharma.one@gmail.com>

To: Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

Cc: Ann FLORINI <annflorini@gmail.com></annflorini@gmail.com>

Sat, Jan 22, 2022 at 4:09 PM

Look forward to 8.30 pm chat. Cheers.

Sent from my iPhone

On Jan 22, 2022, at 3:44 PM, Krish Sharma <krish@bygmusic.com> wrote:

Great. Let's go for this evening 8:30. I will send an invite with call info to make things easy-

Looking forward-

K

Ps my phone number is 213 479 0593

On Fri, Jan 21, 2022 at 4:54 AM Sunil SHARMA <sunil.sharma.one@gmail.com> wrote:

Hi Krish,

Good to hear from you.

Anytime around 8 or 9 pm EST works for us.

Lets try the weekend, either Saturday or Sunday.

Ann is better, but I am recovering from a milder version of what she had.

Hope you are healthy and well.

Cheers,

Sunil & Ann

Sent from my iPhone

On Jan 20, 2022, at 10:57 PM, Krish Sharma <krish@bygmusic.com> wrote:

Sunil-

Thanks for reaching out on LI.

I would love to connect in general and also talk about BYG Music. I'm around tomorrow (Friday) between 2pm-4pm ET and all weekend. Let me know what works for you.

Most importantly, I hope Ann is feeling better, heard it's not fun-

Looking forward,

K

--

Krish Sharma

Founder/CEO

What is BYG Music? - YouTube

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-a%3A#800606662838214599%7Cmsg-f%3A172270189637...

1/2

4/13/22, 4:47 PM

Bygmusic Mail - Re: Hey!

![img-1.jpeg](img-1.jpeg)

# CONFIDENTIALITY NOTICE:

The contents of this email message and any attachments are intended solely for the addressee(s) and may contain confidential and/or privileged information and may be legally protected from disclosure. If you are not the intended recipient of this message or their agent, or if this message has been addressed to you in error, please immediately alert the sender by reply email and then delete this message and any attachments. If you are not the intended recipient, you are hereby notified that any use, dissemination, copying, or storage of this message or its attachments is strictly prohibited.

Krish Sharma

Founder/CEO

What is BYGMusic? - YouTube

![img-2.jpeg](img-2.jpeg)

# CONFIDENTIALITY NOTICE:

The contents of this email message and any attachments are intended solely for the addressee(s) and may contain confidential and/or privileged information and may be legally protected from disclosure. If you are not the intended recipient of this message or their agent, or if this message has been addressed to you in error, please immediately alert the sender by reply email and then delete this message and any attachments. If you are not the intended recipient, you are hereby notified that any use, dissemination, copying, or storage of this message or its attachments is strictly prohibited.

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-a%3A/800606662838214599%7Cmsg-f%3A172270189637...

2/2

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

BYG music

Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

# RE: BYG Music / AWAL / Vesper

1 message

Raj Gopal <raj@vesper.cc></raj@vesper.cc>

To: Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

Cc: David Cao <david@vesper.cc></david@vesper.cc>

Mon, Mar 14, 2022 at 8:30 AM

Hi Krish,

Let's do noon ET on Thursday.

On Vesper feedback and questions on strategy, some potential topics include:

- Pressure testing artist subscription service plans, given general challenges others have faced in getting artists to pay upfront for subscriptions
- Roadmap for building out artist experience vs sponsor experience, and how you prioritize between the two
- How you plan to manage both high-value, high-touch sponsorship opportunities (i.e. larger sponsors & artists) vs managing the "long tail"

Looking forward to chatting.

Best,

Raj

![img-3.jpeg](img-3.jpeg)

Raj Gopal

Vesper Company

267.391.6953

raj@vesper.cc

From: Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

Sent: Friday, March 11, 2022 9:45 PM

To: Raj Gopal <raj@vesper.cc></raj@vesper.cc>

Cc: David Cao <david@vesper.cc></david@vesper.cc>

Subject: Re: BYG Music / AWAL / Vesper

EXTERNAL SENDER

Hey Raj,

Does Noon ET Wednesday or Thursday work?

Have a great weekend!

Krish

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A172728971075...

1/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

On Thu, Mar 10, 2022 at 1:53 PM Krish Sharma <krish@bygmusic.com> wrote:</krish@bygmusic.com>

Hey Raj,

Stand by for our timing options, we want everyone to be able to join.

Regarding:

- Vesper feedback and questions on strategy

Do you have any specific questions we can prepare for? No worries if not, just want to be efficient.

Looking forward-

Best,

K

On Wed, Mar 9, 2022 at 6:53 AM Raj Gopal <raj@vesper.cc> wrote:</raj@vesper.cc>

Hi Krish,

Thanks for taking the time last week to chat with us / AWAL. Hope the intro to AWAL was helpful and you'll find some good opportunities to work with them.

On the Vesper side, we'd still like to further explore an investment; in particular it would be helpful for us to see a product demo and talk through some feedback / questions on the long-term strategy. In full transparency, given our current capacity and focus areas, if we do decide to invest it would likely be a smaller check.

Can we do a catch up next week? It would be helpful to cover the following:

- BYG product demo and more details on tech progress
- Any updates on potential work with AWAL
- Vesper feedback and questions on strategy
- Additional intros that could be helpful for you

Let us know if that works for you, and if so what times next week might be best.

Thanks,

Raj

Raj Gopal

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A172728971075...

2/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

![img-4.jpeg](img-4.jpeg)

Vesper Company

267.381.6853
raj@vesper.cc

From: Raj Gopal

Sent: Tuesday, March 1, 2022 9:55 AM

To: Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

Cc: David Caro <david@vesper.cc></david@vesper.cc>

Subject: RE: BYGMusic / AWAL / Vesper

Hi Krish,

In terms of topics for the meeting, I was thinking:

- Intro Ben / AWAL
- Get Ben up to speed (I've shared your deck with him, but a voiceover / Q&A might be helpful)
- Time permitting, I think going deeper on some of the strategic topics below would be helpful for both Vesper and AWAL:

- Your approach to building out the network of stakeholders (labels, distributors, talent agencies, sponsors)
- Thoughts on how longer-term partnerships might work with these stakeholders
- Your approach to improving relevancy / ROI and scalability of the platform (matching stakeholders & opportunities, finding opportunities for the "long tail" of artists, scaling the workflow for sponsors)
- Data strategy: what does your long-term proprietary dataset look like?

- Updates on the fundraise process
- How Vesper and/or AWAL can be helpful

Looking forward to chatting this afternoon.

Best,

Raj

From: Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

Sent: Monday, February 28, 2022 7:16 PM

To: Raj Gopal <raj@vesper.cc></raj@vesper.cc>

Cc: David Caro <david@vesper.cc></david@vesper.cc>

Subject: Re: BYGMusic / AWAL / Vesper

EXTERNAL SENDER

Hey Raj,

We are looking forward to the call tomorrow. Thanks again for arranging it.

Do you have any thoughts on the agenda? I think we spoke of possible strategic partnership/investment, potential artist opportunity collaboration and general perspective with domain expertise; but will of course follow your lead.

Best,

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A172728971075...

3/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

Krish

On Wed, Feb 23, 2022 at 8:50 AM Raj Gopal <raj@vesper.cc> wrote:

From: Ben Akinbola <benjamin.akinbola@awal.com></benjamin.akinbola@awal.com>

Sent: Wednesday, February 23, 2022 11:27 AM

To: Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

Cc: Raj Gopal <raj@vesper.cc>; Zac Gelfand <zac.gelfand@gmail.com>; Dad <gelfand@mac.com>; Shamil Grover <shamil@vesper.cc>; Mike Alden <mike@bygmusic.com>; David Cao <david@vesper.cc></david@vesper.cc></mike@bygmusic.com></shamil@vesper.cc></raj@vesper.cc></raj@vesper.cc>

Subject: Re: Intro- BYGMUSIC

EXTERNAL SENDER

Yeah, great to connect, everyone. The 1-2pm ET window on the 1st works best for me. Thanks!

On Tue, Feb 22, 2022 at 4:17 PM Krish Sharma <krish@bygmusic.com> wrote:

Hi Raj,

Great, those timing windows work for us. Thank you. Understood regarding further feedback prior to looking at participation for Vesper. I know we are a bit out of the larger scope you are currently working with.

Ben,

Pleasure to connect, looking forward to speaking.

Best,

Krish

On Tue, Feb 22, 2022 at 8:57 AM Raj Gopal <raj@vesper.cc> wrote:

Hi Krish,

Adding Ben Akinbola, who leads strategy at AWAL and is leading the charge on AWAL's new digital business development opportunities. It would be great to have a follow-up discussion including Ben sometime next week. On the Vesper side, best for me and David would be 2-4 ET on Monday the 28th, or 12-2 ET on Tuesday the 1st. Ben / Krish & team, please let us know what might work for you.

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A172728971075...

4/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

On Vesper investing in BYG, hearing some more on the business and getting feedback from the AWAL team would be helpful for us to decide if / how we'd like to proceed. That said, as David mentioned on the last call, the Vesper team is currently working on some larger deals which are limiting our capacity to engage on deals in this size range. We'll provide some additional thoughts coming out of our next call.

Looking forward to chatting,

Raj

![img-5.jpeg](img-5.jpeg)

Raj Gopal

Vesper

Company

267.391.6053

raj@vesper.cc

From: Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

Sent: Thursday, February 17, 2022 8:48 PM

To: Raj Gopal <raj@vesper.cc></raj@vesper.cc>

Cc: Zac Gelfand <zac.gelfand@gmail.com>; Dad <gelfand@mac.com>; Gary Singer <gary@vesper.cc>; Shamil Grover

<shamil@vesper.cc>; Mike Alden <mike@bygmusic.com>; David Caro <david@vesper.cc></david@vesper.cc></shamil@vesper.cc></gary@vesper.cc></zac.gelfand@gmail.com>

Subject: Re: Intro- BYGMUSIC

You don't often get email from krish@bygmusic.com. Learn why this is important

EXTERNAL SENDER

Hey Raj,

Thanks for the update. I can imagine the AWAL team has a great deal on their plate right now. We are looking forward to connecting with them.

Aside from AWAL, do you think there will be any other fit for the round? If so, we can follow up with any other info which might be needed. Also, we are doing some crowdfunding on Wefunder and it is currently halfway through it's discount phase--https://wefunder.com/bygmusic/

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A172728971075...

5/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

Thanks for your and everyone's time, attention and help; it is exciting to connect with folks who understand what makes our model and mission special.

Best,

Krish

213 479 0593

On Thu, Feb 17, 2022 at 12:49 PM Raj Gopal <raj@vesper.cc> wrote:

Thanks Krish and team, it was a pleasure to meet you all and hear about the exciting stuff you're working on. As you might imagine, the AWAL team has been swamped since the preliminary approval of the sale to Sony last week; once we know how they'd like to engage, we'll follow up to schedule a time.

Look forward to chatting again soon.

Best,

Raj

![img-0.jpeg](img-0.jpeg)

Raj Gopal

Vesper
Company

267.3816053
raj@vesper.cc

From: Zac Gelfand <zac.gelfand@gmail.com></zac.gelfand@gmail.com>

Sent: Monday, February 14, 2022 10:58 PM

To: Krish Sharma <krish@bygmusic.com></krish@bygmusic.com>

Cc: Dad <gelfand@mac.com>; Gary Singer <gary@vesper.cc>; Raj Gopal <raj@vesper.cc>; Shamit Grover <shamit@vesper.cc>; Mike Alden <mike@bygmusic.com>; David Caro <david@vesper.cc></david@vesper.cc></shamit@vesper.cc></gary@vesper.cc></gelfand@mac.com>

Subject: Re: Intro- BYGMUSIC

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A172728971075... 6/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

# EXTERNAL SENDER

Thanks, Krish! It was great to chat again, and to meet more of your team. Please keep us all in the loop with any further developments on your end.

All the best,

Zac

On Feb 12, 2022, at 12:40 AM, Krish Sharma <krish@bygmusic.com> wrote:

Hi All,

Firstly, thanks to everyone for taking the time yesterday to connect. This is quite a group, and we appreciate the opportunity to present our vision to folks who share our passion for music and who understand the market and the possibilities therein.

Attached is the BYGMusic Investment Deck. It is not confidential so feel free to share where appropriate.

We are looking forward to getting in touch with AWAL. How synergistic to see the news this morning that the Sony transaction was approved in the UK! Let us know if there is anything we should do to help facilitate a call with them.

Best,

Krish

On Thu, Jan 27, 2022 at 7:01 AM Jeffrey Gelfand <gelfand@mac.com> wrote:

I can do EST

1. Tues 2-1, 11:00 AM
2. Wed 2-2, 3:00
3. Thurs 2-3, 3:00
4. Fri 2-4, 11:00 AM

Regards,

Jeff

On Jan 27, 2022, at 9:37 AM, Gary Singer <gary@vesper.cc> wrote:

Hi Zac, Jeff, and Krish!

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A172728971075...

7/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

Here are some good times for Shamit and Raj. Please let me know if any of these work for you. All times are U.S. Eastern:

1. Tues 2-1, 11:00 AM, 4:30 PM
2. Wed 2-2, 11:00 AM, 3:00, 4:00 PM
3. Thurs 2-3, 3:00, 4:00 PM
4. Fri 2-4, 11:00 AM, 2:00, 3:00, or 4:00 PM

After your reply, I'll follow up with a Zoom invite.

Gary Singer

<VesperCompany_f46d2f19-8e48-4614-996d-e5efb43a636e.png> Vesper Company

8e48-4614-996d-

e5efb43a636e.png>

231.313.8851

gary@vesper.cc

From: Shamit Grover <shamit@vesper.cc></shamit@vesper.cc>

Date: Thursday, January 27, 2022 at 8:40 AM

To: Zac Gelfand <zac.gelfand@gmail.com>, Jeffrey Gelfand <gelfand@mac.com></gelfand@mac.com>

Cc: Raj Gopal <raj@vesper.cc>, Gary Singer <gary@vesper.cc></gary@vesper.cc>

Subject: Re: Intro- BYGMUSIC

Monday may be tough, but adding Gary to help sync calendars

<VesperCompany_f46d2f19-8e48-4614-996d-e5efb43a636e.png>

4614-996d-e5efb43a636e.png>

Shamit Grover

Vesper Company

207.370.8080

shamit@vesper.cc

From: Zac Gelfand <zac.gelfand@gmail.com></zac.gelfand@gmail.com>

Sent: Thursday, January 27, 2022 8:04:41 AM

To: Jeffrey Gelfand <gelfand@mac.com></gelfand@mac.com>

Cc: Shamit Grover <shamit@vesper.cc>, Raj Gopal <raj@vesper.cc></raj@vesper.cc>

Subject: Re: Intro- BYGMUSIC

Some people who received this message don't often get email from zac.gelfand@gmail.com. Learn why this is important

EXTERNAL SENDER

Monday 10amPT is best for me.

Zac Gelfand

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A172728971075...

8/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

914.610.6553

www.zacharygelfand.com

On Jan 27, 2022, at 7:44 AM, Jeffrey Gelfand <gelfand@mac.com> wrote:

Shamil/Raj- I am available as follows: what works for you?

Friday 1/28 11am PT

Monday 1/31 9am PT, 10am PT

Regards,

Jeff

On Jan 27, 2022, at 1:24 AM, Krish Sharma <krish@bygmusic.com> wrote:

Hi Zac,

Thanks for following up. It would be great to get on a call. I think it would be most efficient if we have some other team members from BYGMusic join as well. We are flexible, but some times that could work for us are:

Friday 1/28 11am PT

Monday 1/31 9am PT, 10am PT

Tuesday 2/1 10am PT, 2pm PT

Looking forward!

Best,

Krish

On Wed, Jan 26, 2022 at 4:46 PM Zac Gelfand <zac.gelfand@gmail.com> wrote:

Hey Krish, just following up here. Let us know if you want to hop on a call sometime soon.

Zac Gelfand

914.610.6553

www.zacharygelfand.com

On Jan 21, 2022, at 9:58 AM, Zac Gelfand

<zac.gelfand@gmail.com> wrote:

Hi Krish, thanks for checking in. I have been sharing the BYGMusic deck around since we last spoke, and I wanted to connect you here with my father, Jeff, as well as two seed investors, Shamil and Raj, all of whom are all interested in hearing more about the BYGMusic story. Let's find some time to chat next week!

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A172728971075...

9/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

Best,

Zac Gelfand

zacharygelfand.com

zac.gelfand@gmail.com//914.610.6553

On Jan 20, 2022, at 10:27 PM, Krish Sharma
<krish@bygmusic.com> wrote:

Hey Zac,

Hope you are well. Again I enjoyed connecting. We
have had acceleration in both investment and brand
deals, it would be good to connect again, especially
around funding.

I am flexible next week.

Best,

Krish

<image001.gif></image001.gif>

On Tue, Jan 4, 2022 at 1:58 PM Krish Sharma
<krish@bygmusic.com> wrote:

Attached

<image001.gif></image001.gif>

On Tue, Jan 4, 2022 at 1:04 PM Krish Sharma
<krish@bygmusic.com> wrote:

Speaking of foibles-I will send shortly!

Thx

K

On Tue, Jan 4, 2022 at 12:44 PM Zac Gelfand
<zac.gelfand@gmail.com> wrote:

Hey Krish, really great to chat with you and
hear more about BYG Music. Thanks again
for taking the time. I found the Wefunder
page, which looks awesome. Doesn't look
like the deck came through, though...

On Jan 4, 2022, at 3:35 PM,
Krish Sharma
<krish@bygmusic.com>
wrote:

https://mail.google.com/mail/u/0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A17272897107... 10/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

Hi Zac,

It was a pleasure to connect today. I think we have come to some of the same conclusions around the music industry, it's past foibles and future opportunities.

Attached is our current investor deck. Our prime focus at the moment is raising our next round of funding and we have some incentives for strategic partners. We have not named a lead for our crowdfunding efforts, for example, which comes with a significant voting multiplier.

Once you have had a chance to look at our deck, I think some of the longer-term potential of our model will come into focus. I'm not sure I went into that insufficient depth on our call.

As we build the BYGMusic platform it will be crucial for us be a lighting red for artists and eventually fans and I think your abilities in content creation/curiation could be an amazing synergy for us.

I look forward to speaking with and your father soon~

Krish

213 479 0593

<image001.gif></image001.gif>

On Thu, Dec 23, 2021 at 9:46 PM Krish Sharma
<krish@bygmusic.com> wrote:

Hi Zac,

Saving Babak's inbox~

It's a pleasure to meet over email and I look forward to chatting in the new year. I will send a meeting invitation with flexible timing.

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A17272897107...

11/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

Have a great holiday!

Krish

On Wed, Dec 22, 2021 at
11:53 AM Zac Gelfand
<zac.gelfand@gmail.com>
wrote:

Thanks so much,
Babak. Krish, looking
forward to connecting.
I'm going to be out of
pocket most of next
week, but maybe we
can find some time to
chat during the first
week of Jan?

Best,
Zac

> On Dec 22, 2021, at
2:18 PM, Babak
Farokh-Siar
<babak@bumped.com>
wrote:

>

> Zac,

> It was very nice
speaking with you and
your dad today. As
mentioned, I wanted to
introduce you to my
friend, Grammy winner,
and the CEO of
BYGMUSIC, Krish
Sharma.

>

> Krish,

> Zac is at WMG and
super passionate about
music. We talked high
level about the
BYGMUSIC mission,
and I thought it would
be great if you two
connected.

> He knows that
BYGMUSIC is raising
money now, so that is a
topic to discuss.

>

> I am excited for you
two to meet and can't
wait to hear how it
goes.

>

> Best,

> Babak

>

>

--

Krish Sharma

Founder/CEO

What is BYGMusic? -
YouTube

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A17272897107...

12/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

# CONFIDENTIALITY
NOTICE:

The contents of this
email message and any
attachments are
intended solely for the
addressee(s) and may
contain confidential
and/or privileged
information and may be
legally protected from
disclosure. If you are
not the intended
recipient of this
message or their agent,
or if this message has
been addressed to you
in error, please
immediately alert the
sender by reply email
and then delete this
message and any
attachments. If you are
not the intended
recipient, you are
hereby notified that any
use, dissemination,
copying, or storage of
this message or its
attachments is strictly
prohibited.

--

Krish Sharma

Founder/CEO

What is BYGMusic? -
YouTube

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A17272897107...

13/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

# CONFIDENTIALITY
NOTICE:

The contents of this email
message and any
attachments are intended
solely for the addressee(s)
and may contain
confidential and/or
privileged information and
may be legally protected
from disclosure. If you are
not the intended recipient
of this message or their
agent, or if this message
has been addressed to
you in error, please
immediately alert the
sender by reply email and
then delete this message
and any attachments. If
you are not the intended
recipient, you are hereby
notified that any use,
dissemination, copying, or
storage of this message or
its attachments is strictly
prohibited.

Krish Sharma

Founder/CEO

What is BYGMusic? - YouTube

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A17272897107...

14/15

4/13/22, 3:37 PM

Bygmusic Mail - RE: BYGMusic / AWAL / Vesper

Krish Sharma

Founder/CEO

What is BYGMusic? - YouTube

# CONFIDENTIALITY NOTICE:

The contents of this email message and any attachments are intended solely for the addressee(s) and may contain confidential and/or privileged information and may be legally protected from disclosure. If you are not the intended recipient of this message or their agent, or if this message has been addressed to you in error, please immediately alert the sender by reply email and then delete this message and any attachments. If you are not the intended recipient, you are hereby notified that any use, dissemination, copying, or storage of this message or its attachments is strictly prohibited.

Krish Sharma

Founder/CEO

What is BYGMusic? - YouTube

# CONFIDENTIALITY NOTICE:

The contents of this email message and any attachments are intended solely for the addressee(s) and may contain confidential and/or privileged information and may be legally protected from disclosure. If you are not the intended recipient of this message or their agent, or if this message has been addressed to you in error, please immediately alert the sender by reply email and then delete this message and any attachments. If you are not the intended recipient, you are hereby notified that any use, dissemination, copying, or storage of this message or its attachments is strictly prohibited.

https://mail.google.com/mail/u0/?ik=1c6940e255&view=pt&search=all&permthid=thread-f%3A1725573413825161645%7Cmsg-f%3A17272897107...

15/15

## Can you vouch for John Doe?

John has applied to raise funding for Company Name on Wefunder and provided your name as a personal reference.

Quote goes here

Wefunder has raised hundreds of millions for startups that later went on to raise over $5 billion in follow-on funding from venture capitalists.

Can you vouch for John?

VOUCH FOR JOHN

LEARN MORE

### About Wefunder

We help anyone invest as little as $100 in the startups they believe in. We're also a Public Benefit Corporation with a mission to keep the American dream alive. We aim to help 20,000 founders get off the ground by 2029.

Unsubscribe | About | Education

Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Reg Crowdfunding offerings are made. Wefunder, Inc. operates sections of wefunder.com where some Reg A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA.

Company Name is testing the waters to evaluate investor interest. No money or other consideration is being solicited; if sent, it will not be accepted. No offer to buy securities will be accepted. No part of the purchase price will be received until a Form C is filed and, then, only through Wefunder. Any indication of interest has no obligation or commitment of any kind.

**Attachment 8:** `document_8.pdf`

![img-0.jpeg](img-0.jpeg)

**BYGMusic, LLC** (the “Company”) a California Corporation

Financial Statements (unaudited)

Years ended December 31, 2020 & 2021

$USD

| Statement of Financial Position |  |  |
| --- | --- | --- |
|  | Year Ended December 31, |  |
|  | 2021 | 2020 |
| ASSETS |  |  |
| Current Assets |  |  |
| Cash and Cash Equivalents | $50 | $303,812 |
| Total Current Assets | $50 | $303,812 |
| TOTAL ASSETS | $50 | $303,812 |
| LIABILITIES AND EQUITY |  |  |
| Liabilities |  |  |
| Current Liabilities |  |  |
| Accrued Expenses | $16,000 | $39,000 |
| Total Current Liabilities | $16,000 | $39,000 |
| Long-term Liabilities |  |  |
| Loans Payable | $131,538 | $216,450 |
| KISS Agreements | $706,000 | $570,000 |
| Total Long-Term Liabilities | $837,538 | $786,450 |
| TOTAL LIABILITIES | $853,538 | $825,450 |
| EQUITY |  |  |
| Member Equity | $260,174 | $321,174 |
| Accumulated Deficit | $(1,113,661) | $(842,812) |
| Total Equity | $(853,488) | $(521,638) |
| TOTAL LIABILITIES AND EQUITY | $50 | $303,812 |

| Statement of Operations |  |  |
| --- | --- | --- |
|  | Year Ended December 31, |  |
|  | 2021 | 2020 |
| Revenue | $636,749 | $725,513 |
| Cost of Revenue | $406,180 | $438,087 |
| Gross Profit | $230,569 | $287,426 |
| Operating Expenses |  |  |
| Professional Fees and Services | $470,916 | $363,934 |
| Other Operating Expenses | $106,650 | $55,338 |
| Total Operating Expenses | $577,566 | $419,273 |
| Operating Income (loss) | $(346,997) | $(131,846) |
| Other Income | $76,147 | $4,000 |
| Net Income (loss) | $(270,850) | $(127,846) |

| Statement of Cash Flows |  |  |
| --- | --- | --- |
|  | Year Ended December 31, |  |
|  | 2021 | 2020 |
| OPERATING ACTIVITIES |  |  |
| Net Income (Loss) | $(270,850) | $(127,846) |
| Adjustments to reconcile Net Income to Net Cash provided by operations: |  |  |
| Accrued Expenses | $(23,000) | $36,925 |
| Total Adjustments to reconcile Net Income to Net Cash provided by operations: | $(23,000) | $36,925 |
| Net Cash provided by (used in) Operating Activities | $(293,850) | $(90,921) |
| FINANCING ACTIVITIES |  |  |
| Loans Payable | $(84,912) | $216,450 |
| KISS Agreements | $136,000 | $155,000 |
| Member Contributions | $(61,000) | $(17,050) |
| Net Cash provided by (used in) Financing Activities | $(9,912) | $354,400 |
| Cash at the beginning of period | $303,812 | $40,334 |
| Net Cash increase (decrease) for period | $(303,762) | $263,478 |
| Cash at end of period | $50 | $303,812 |

Statement of Changes in Member Equity

|  | Founders Units |  | Common Units |  | Profit Participation Units |  | Contributions | Accumulated Deficit | Total Member Equity |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | # of Units | $ Amount | # of Units | $ Amount | # of Units | $ Amount |  |  |  |
| Beginning Balance at 1/1/20 | 31,766 | $380,000 | 1,317,663 |  | 238,882 | $ - | $(41,776) | $(714,965) | $(376,742) |
| Capital Contributions |  |  |  |  |  |  | $(17,050) |  | $(17,050) |
| Net Income (loss) |  |  |  |  |  |  |  | $(127,846) | $(127,846) |
| Ending Balance 12/31/20 |  | $380,000 | 1,317,663 |  | 238,882 |  | $(58,826) | $(842,812) | $(521,638) |
| Capital Contributions |  |  |  |  |  |  | $(61,000) |  | $(61,000) |
| Net Income (loss) |  |  |  |  |  |  |  | $(270,850) | $(270,850) |
| Ending Balance 12/31/21 | 31,766 | $380,000 | 1,317,662 |  | 238,882 |  | $(119,826) | $(1,113,661) | $(853,488) |

# BYGMusic, LLC

# Notes to the Unaudited Financial Statements

# December 31, 2021

# NOTE 1 - ORGANIZATION AND NATURE OF ACTIVITIES

BYGMusic, LLC (“the Company”) was incorporated in California on April 23, 2015. The Company operates as a media and entertainment influencer marketing platform. The Company primarily earns revenue from consumer brands that seek to partner with music artists to extend their outreach into high-value consumer demographics. The Company’s revenues are primarily generated from contracts that cover specific engagements, such as support for an artist during a tour. The Company is headquartered in Los Angeles, California. The Company’s customers will primarily be located in the United States.

The Company intends to conduct a crowdfunding campaign under regulation CF in 2022 to raise operating capital.

# NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

# Basis of Presentation

Our unaudited financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Our fiscal year ends on December 31. The Company has no interest in variable interest entities and no predecessor entities.

# Use of Estimates and Assumptions

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

# Cash and Cash Equivalents

Cash and cash equivalents include all cash balances, and highly liquid investments with maturities of three months or less when purchased.

# Fair Value of Financial Instruments

ASC 820 “Fair Value Measurements and Disclosures” establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1: defined as observable inputs such as quoted prices in active markets; and

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to

develop its own assumptions.

## Concentrations of Credit Risks

The Company’s financial instruments that are exposed to concentrations of credit risk primarily consist of its cash and cash equivalents. The Company places its cash and cash equivalents with financial institutions of high credit worthiness. The Company’s management plans to assess the financial strength and credit worthiness of any parties to which it extends funds, and as such, it believes that any associated credit risk exposures are limited.

## Revenue Recognition

The Company recognizes revenue from the sale of products and services in accordance with ASC 606, “Revenue Recognition” following the five steps procedure:

Step 1: Identify the contract(s) with customers

Step 2: Identify the performance obligations in the contract

Step 3: Determine the transaction price

Step 4: Allocate the transaction price to performance obligations

Step 5: Recognize Revenue When or As Performance Obligations Are Satisfied

The Company’s primary performance obligation is the creation and delivery of marketing campaigns. The Company recognizes revenue from each campaign once the performance obligations related to that campaign have been fulfilled.

## Property and Equipment

As of December 31, 2021 the Company had no material property or equipment.

## Other Income

In 2020, the Company received an EIDL grant in the amount of $4,000. In 2021, the Company’s PPP loan of $76,147 was forgiven in full.

## Advertising Costs

Advertising costs associated with marketing the Company’s products and services are generally expensed as costs are incurred.

## General and Administrative

General and administrative expenses consist of payroll and related expenses for independent contractors involved in general corporate functions, including accounting, finance, tax, legal, business development, and other miscellaneous expenses.

## Income Taxes

The Company is subject to corporate income and state income taxes in the state it does business. A deferred tax asset as a result of net operating losses (NOL) has not been recognized due to the uncertainty of future positive taxable income to utilize the NOL. Due to the recently enacted Tax Cuts and Jobs Act, any NOLs will be limited to 80% of taxable income generated in future years.

## Recent accounting pronouncements

The FASB issues ASUs to amend the authoritative literature in ASC. There have been a number of ASUs to date that

amend the original text of ASC. Management believes that those issued to date either (i) provide supplemental guidance, (ii) are technical corrections, (iii) are not applicable to us or (iv) are not expected to have a significant impact on our financial statements.

### **NOTE 3 - RELATED PARTY TRANSACTIONS**

The Company follows ASC 850, “Related Party Disclosures,” for the identification of related parties and disclosure of related party transactions.

The Company has received loans from the Managing Member of $63,421 as of December 31, 2020 and 2021, respectively. These loans are recorded as Member Equity.

### **NOTE 4 - DEBT**

In 2020, the Company entered into a Paycheck Protection Program (PPP) loan for $76,147 with an interest rate of 1% and maturity date in 2022. The ending balance of this loan was $76,147 and $0 as of December 31, 2020 and 2021, respectively.

In 2020, the Company entered into a PayPal Business Loan for $85,000 with an interest rate of 17% and maturity date in 2021. The ending balance of this loan was $37,467 and $22,587 as of December 31, 2020 and 2021, respectively. The loan was restructured March 2, 2021 to the following terms: Balance $26,472.09, monthly payment $854.06, term 31 Months.

Future Equity Obligations - Keep It Simple Security (KISS) Agreements. During the periods ending December 31, 2018 through 2021, the Company entered into KISS Agreements with five third parties. The aggregate amount of KISS investments as of December 31, 2021 was $706,000. The KISS agreements have no maturity date, bear no interest, and have Valuation Caps ranging from $6,000,000 to $10,000,000. The agreements provide the right of the investor to (i) future equity in the form of Membership Interests following the Date of Issuance from which the Company receives gross proceeds of not less than $2,000,000 (excluding the aggregate amount of securities converted into Membership Interests in connection with such sale), or (ii) a cash payment equal to two times the purchase amount in the event of a change of control transaction.

### **NOTE 5 - EQUITY**

The Company is a member-managed California limited liability company under the laws of the State of California. The rights and liabilities of the Members are determined pursuant to the California Revised Uniform Limited Liability Act as codified in California Corporations Code Section 17701.01 *et seq.* (the “Act”) and pursuant to the terms of the Company’s Operating Agreement. The property and affairs of the Company are managed by Krishan Sharma. The membership interests of the Company are represented by issued and outstanding Units, which may be divided into one or more types, classes, or series. The Manager is authorized to issue or sell additional Units. As of December 31, 2020 and 2021, the Company has issued a total of 1,317,662 Common Units, 31,766 Founders Units and 238,882 Profit Participation Units.

Distributions are subject to limitations of the Act and the Company’s Operating Agreement. Authorized distributions shall be made in the following manner: first, the Founder Units shall be allocated twenty-five percent (25%) of all distributions of the Company until the Company has returned four hundred thousand dollars and zero cents ($400,000.00); second, to satisfy preferred rights, if any, of Members holding Preferred Units; and third, to the Members holding Common Units, Founder Units and vested Profit Participation Units, and to any Members holding Preferred having a right to distributions in addition to preferred rights, pro rata in proportion to their aggregate holding, treated as one class of Units.

### **NOTE 6 - SUBSEQUENT EVENTS**

The Company has evaluated events subsequent to December 31, 2021 to assess the need for potential recognition or disclosure in this report. Such events were evaluated through May 25, 2022, the date these financial statements were available to be issued.

During calendar year 2022 the Company entered into three debt financing agreements, as follows:

1. An EIDL loan of $117,000 with an interest rate of 3.75% and a 30 year maturity from the date of January 5, 2022.
2. A promissory note of $50,000 with an interest rate of 0%, a maturity date of June 30, 2022 and a priority claim against any net proceeds from a Regulation CF offering.
3. A promissory note of $46,200 with an interest rate of 0% and a maturity date of August 31, 2022. In the event that the note is not repaid by the maturity date, interest begins to accrue at a rate of 1%.

#### **NOTE 7 - GOING CONCERN**

The accompanying balance sheet has been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The entity has realized losses, negative cashflows from operations, and has negative working capital for the years presented.

The Company's ability to continue as a going concern in the next twelve months following the date the financial statements were available to be issued is dependent upon its ability to produce revenues and/or obtain financing sufficient to meet current and future obligations and deploy such to produce profitable operating results. Management has evaluated these conditions and plans to generate revenues and raise capital as needed to satisfy its capital needs. No assurance can be given that the Company will be successful in these efforts. These factors, among others, raise substantial doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities.

#### **NOTE 8 - RISKS AND UNCERTAINTIES - COVID-19**

The spread of COVID-19 has severely impacted many local economies around the globe. In many countries, businesses are being forced to cease or limit operations for long or indefinite periods of time. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting in an economic slowdown. Global stock markets have also experienced great volatility and a significant weakening. Governments and central banks have responded with monetary and fiscal interventions to stabilize economic conditions.

The duration and impact of the COVID-19 pandemic, as well as the effectiveness of government and central bank responses remains unclear currently. It is not possible to reliably estimate the duration and severity of these consequences, as well as their impact on the financial position and results of the Company for future periods. Note: this disclosure assumes there is no significant doubt about the entity's ability to continue as a going concern.

**Attachment 9:** `document_9.pdf`

Contact

www.linkedin.com/in/krish-sharma-7ab2985 (LinkedIn)

Top Skills

New Business Development
Recording
Music Industry

# Krish Sharma

Founder, CEO, Producer, Recording Engineer
Manhattan Beach, California, United States

## Summary

BYGMusic is a modern music company, built for the social age. We connect advertisers to micro networks of passion and we do it to support musicians and innovate for brands. Music is the number one universal passion point and BYGMusic makes it easy for brands to be a part of the magic that happens between artists and their fans.

## Experience

BYGMusic

Founder/CEO

April 2016 - Present (6 years 6 months)

Bygmusic.com

BYGMusic is part music label and part marketing platform. We connect brands with music fans through the social networks of really cool artists.

(independent)

Music Producer, Engineer and Mixer

January 1995 - Present (27 years 9 months)

Greater Los Angeles Area

Producer, recording engineer, mixer and song writer with multiplatinum sales and several Grammys.

Proficient at all facets of record-making from technical execution to talent management.

VenVerde Music

Owner

September 2010 - August 2016 (6 years)

VenVerde is a boutique music placement firm with unique pipeline access and high production value content.

## Education

Page 1 of 2

University of California, Los Angeles  
BS, Economics, Computer Science · (1986 - 1992)

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**Attachment 10:** `document_10.pdf`

Contact

www.linkedin.com/in/mikealden
(LinkedIn)
www.crescendocontent.com
(Company)

Top Skills

Leadership

Enterprise Software

SaaS

# Michael Alden

Accomplished Operations & Strategy Executive
Manchester, Massachusetts, United States

## Summary

VALUE PROPOSITION

- ▶ I am highly effective in operations leadership and strategic planning, with extensive experience leading growth, revenue production, operations management, and team leadership.
- ▶ My success is driven by my ability to build strategies that improve productivity while meeting operating and fiscal targets.

SUMMARY

- ▶ Engaging Operations and Strategy Executive possessing a winning blend of business expertise, entrepreneurial drive, and practical experience.
- ▶ Leverages a unique mix of strategic and analytical expertise, consistently exceeding performance goals by aligning the effort of strong teams with organizational objectives.

LEADERSHIP HIGHLIGHTS

- ★ Strategy- research, test, and verify market opportunities to build or expand businesses.
- ★ Execution- build plans to operationalize strategy, set goals, build teams, create culture of accountability, celebrate success, learn from mistakes
- ★ Growth- led two start-ups from $0- $25M, teams from 5-125 people, global expansion opening offices in Europe and Asia, led acquisition, led capital raise, completed successful exit

![img-0.jpeg](img-0.jpeg)

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Specialties: Operations Management, Strategic Planning, Revenue Growth, Market Research, Product Development, Account Management, Client Service, Market Penetration, Team Leadership

## Experience

BYGMusic

Co-Founder

2017 - Present (5 years)

Greater Los Angeles Area

★ Partnered with the producer for the Rolling Stones to launch a business that connects brands with breakthrough artists to reach new audiences.

★ Credited with building a strategic plan and financial model for the business, as well as a product strategy and roadmap.

★ Led a project that yielded 17 million views across all social media channels and surpassed a 20,000 lead target by delivering 39,000 leads for Ford Motor Company.

★ Improved brand visibility for Angry Orchard Cider, using Facebook Live to broadcast band members engaging with the client's product..

★ Worked with eight local Boston music artists to build social media and experiential marketing campaigns that improved distribution by 69% in 60 days for a new craft whiskey.

ABOUT BYGMUSIC LLC

BYGMusic is a platform where authentic brand advocacy is driven through the social media and reach of musical artists. The company works with brands to drive awareness, visibility and actions through organic outreach to hard to reach and untapped audiences.

Percussion Software

Chief Executive Officer

2016 - Present (6 years)

Woburn, MA

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Percussion Software's award-winning web content management system is used by higher education, government agencies, and business organizations - SMB to Enterprise.

Marketers use Percussion CMS to create, publish, and share content that drives web traffic, engages visitors, and looks great on any device. Percussion customers love our unique coaching program, drag-and-drop editing, built-in blogs, responsive mobile templates, SEO tools, and fast migration with LiveFirst. Percussion CMS is a product, not a platform, so you can launch in days instead of months. Take ownership of content and design, and go live.

revealit.io

Advisor

January 2018 - Present (4 years 9 months)

Greater Los Angeles Area

revealit corporation is an interactive video platform employing AI and the power of blockchain, micro-payments and the crowd to deliver innovative zero-interruption advertising inventory to the future of video.

Crescendo Content Marketing

Co-founder and CEO

February 2015 - January 2017 (2 years)

Greater Boston Area

★ Raised capital from Percussion Software investors and the leadership team and launched operations.

★ Built a team of team of 20 product management, engineering, and marketing personnel.

★ Successfully produced a minimum viable product within 14 weeks using Agile methodologies, AWS, Java, and Angular.

★ Secured over 500 clients to a free service that later converted to trials and paid models.

ABOUT CRESCENDO CONTENT MARKETING

Crescendo is a content marketing tool to help marketers better plan, organize, create, and measure content effectiveness.

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ViewDo Labs (acquired by Percussion Software)

President and CEO

September 2013 - December 2014 (1 year 4 months)

Woburn, MA

Led a comprehensive rebranding effort while directing 30 employees.

★ Within eight weeks, developed and launched the ViewPoint V1 product designed to work with Yammer.

★ Merged the company with Percussion Software following the acquisition of Yammer by Microsoft, closing off market opportunities.

# ABOUT VIEWDO LABS

ViewDo Labs is a pioneer in enterprise social network analytics and governance, offering insight into activity on Yammer, SharePoint, Chatter and other ESNs so companies can increase adoption while lowering the risks of collaboration.

Axceler (acquired by Metalogix)

President and CEO

May 2006 - August 2013 (7 years 4 months)

Woburn, MA

★ Spun out the $7MM Lotus Notes business of Percussion Software into its own company.

★ Led an expansion of the business model into the Microsoft SharePoint market, positioning the corporation as a leading provider of collaboration management and governance solutions.

★ Grew the business to reach $25MM in revenue in 2012 with 125 employees, two regional and two international offices, with a 5-year CAGR of 135%.

★ Won the Boston Business Journal Pacesetter Award for two consecutive years.

★ Oversaw an acquisition and a capital raise; sold the business to a VC-backed competitor.

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# =====## ABOUT AXCELER INC.

Axceler provided solutions that included the award-winning ControlPoint family of products for administration, governance, and migration, and ViewPoint, a federated view and analytics of all of a client's enterprise social networks.

### Percussion Software

President

September 1999 - February 2006 (6 years 6 months)

Grew revenue to $25m+ by building high volume, low touch inside telesales teams in Boston, LA, and London. Scaled professional services and customer success teams while constantly improving processes to deliver happy customers. Added products, created partnerships, evaluated and proposed acquisitions, built our leadership team, and established a positive high-energy culture.

Worked with Percussion's Board to split company into two separate businesses to be run independently. Percussion's spun out their Lotus Notes business and created Axceler in 2006. I moved to become CEO of Axceler.

President 2005-2006

SVP Corporate Operations 2003-2004

SVP Worldwide Sales, Services, and Customer Success 2001-2002

VP Worldwide Sales 1999-2000

### Percussion Software London

European Sales Director

July 1997 - June 1999 (2 years)

Relocated from the US to expand Percussion's European sales channel. Hired and trained sales, support, marketing, operations, and professional services.

*Quadrupled sales within the first year

*Grew office from 3 to 25 staff

*Increased revenue contribution from Europe

### Bond Technologies

Vice President, UK

1997 - 1999 (2 years)

London, United Kingdom

Bond is a technology consulting firm with offices in New York, Chicago, and London. I was one of the first employees in London.

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*Built the London office from 5 to 40 consultants.

*Hired and trained sales, operations, and technical staff.

*Clients included Deutsche Bank, JP Morgan, Diagio, and HSBC.

## Stride and Associates

### Partner

1989 - 1997 (8 years)

Boston and Los Angeles

Started as a sales trainee and worked my way up to partner.

## Education

### Saint Michael's College

BA, Business Administration · (September 1985 - May 1989)

### Semester At Sea / ISE

Semester at Sea, Spring 1988 · (1988 - 1988)

### Andover High School

· (1982 - 1985)

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**Attachment 11:** `document_11.pdf`

# OPERATING AGREEMENT

OF

**BYGMUSIC LLC, a California limited liability company

# TABLE OF CONTENTS

| ARTICLE 1 DEFINITIONS | 1 |
| --- | --- |
| ARTICLE 2 FORMATION AND ORGANIZATION | 1 |
| 2.1. Formation | 1 |
| 2.2. Name | 1 |
| 2.3. Office; Registered Agent | 1 |
| 2.4. Purpose | 1 |
| 2.5. Title to Assets; No Partition | 2 |
| 2.6. Duration | 2 |
| 2.7. Limitation of Liability | 2 |
| 2.8. Manager | 2 |
| ARTICLE 3 CAPITAL CONTRIBUTIONS; LOANS AND OTHER BUSINESS TRANSACTIONS | 2 |
| 3.1. Capital Structure | 2 |
| 3.2. Loans and Other Business Transactions | 5 |
| ARTICLE 4 MEMBERSHIP | 5 |
| 4.1. Members | 5 |
| 4.2. Personal Nature of Membership Units | 5 |
| 4.3. Admission of New Members | 5 |
| 4.4. Conditions to Admissions of New Members | 5 |
| 4.5. Dissociation of a Member | 6 |
| 4.5.2. Occurrence of a Dissociation Event | 6 |
| 4.5.3. Admission as Substitute Member | 6 |
| 4.6. No Personal Liability | 6 |
| ARTICLE 5 MEMBER MEETINGS AND VOTING | 6 |
| 5.1. Voting | 6 |
| 5.2. Voting Units | 7 |
| 5.3. Member Meetings | 7 |
| 5.4. Written Consent | 7 |
| 5.6. Independent Activities | 8 |
| 5.7. Compensation and Expenses | 8 |
| ARTICLE 6 CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS | 8 |
| 6.1. Initial Capital Contributions | 8 |
| 6.2. Additional Capital Contributions | 8 |
| 6.3. Maintenance of Capital Accounts | 8 |
| 6.4. No Interest | 9 |
| ARTICLE 7 ALLOCATIONS OF NET PROFIT AND NET LOSS | 10 |
| 7.1. Net Loss | 10 |
| 7.2. Net Profit | 10 |
| 7.3. Allocations for Tax Purposes | 10 |
| ARTICLE 8 DISTRIBUTIONS | 10 |
| 8.1. Priority of Distributions | 10 |
| 8.2. Limitations on Distributions to Profit Participation Units | 11 |
| 8.3. Return of Distributions in Certain Circumstances | 11 |
| 8.4. No Distributions in Kind | 11 |
| 8.5. Tax Withholding; Withholding Advances | 11 |
| ARTICLE 9 NO LIABILITY OF MEMBERS; INDEMNITY OF MEMBERS | 13 |
| 9.1. No Liability | 13 |
| 9.2. Indemnification | 13 |
| ARTICLE 10 MANAGEMENT | 14 |
| 10.1. Manager | 14 |
| 10.2. Term | 14 |

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10.3. Removal of Manager...14
10.4. Powers and Duties...14
10.5. Procedure for Action by the Manager...15
10.6. Time...16
10.7. Compensation; No Employment...16
10.8. Business Expenses...16
10.9. Resignation...16
10.10. No Personal Liability...16
10.11. No Management by Other Persons or Entities...16
10.12. Officers...16
10.13. Title to Assets...16
ARTICLE 11 COMPANY ACCOUNTS; ACCOUNTING; AND TAX MATTERS...17
11.1. Partnership Tax Treatment...17
11.2. Book of Accounts...17
11.3. Method of Accounting...17
11.4. Fiscal Year...17
11.5. Records...17
11.6. Financial Statements...17
11.7. Income Tax Data and Reports...18
11.8. Tax Matters Partner; Partnership Representative...18
11.9. Tax Returns...19
11.10. Banking...19
ARTICLE 12 TRANSFER OF MEMBERSHIP INTERESTS...19
12.1. Transfer...19
12.2. Transfer Void...19
12.3. Right of First Refusal...20
12.4. Death or Incapacity of Member...21
12.5. Marital Dissolution...21
12.6. Transfer of Interests for Estate Planning...22
12.7. Enterprise Value...22
12.8. Drag-along Rights...22
12.9. Tag-Along Rights...24
ARTICLE 13 DISSOLUTION, LIQUIDATION AND TERMINATION OF THE COMPANY...27
13.1. Limitations...27
13.2. Cause of Dissolution...27
13.3. Authority to Wind Up...27
13.4. Liquidation of the Company...27
ARTICLE 14 CONSENT TO REPRESENTATION BY COMPANY COUNSEL...28
ARTICLE 15 MISCELLANEOUS...29
SCHEDULE A...32
MEMBERS, CAPITAL CONTRIBUTIONS AND UNITS...32
EXHIBIT A...34
CONSENT OF SPOUSE...34
APPENDIX 1...35
DEFINITIONS...35

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# **OPERATING AGREEMENT  
OF  
BYGMUSIC LLC,  
A CALIFORNIA LIMITED LIABILITY COMPANY**

This OPERATING AGREEMENT (“*Agreement*”) of BYGMUSIC LLC, a California limited liability company (the “*Company*”), is effective as of April 23, 2015 (“*Effective Date*”), by the undersigned (“*Initial Members*”) and any party subsequently admitted as a Member in accordance with the terms and conditions of this Agreement (collectively, the “*Members*”).

The Members agree as follows:

## DEFINITIONS

Capitalized terms in this Agreement are defined in Appendix 1, or they shall have the meanings set forth just before their use in quotations.

# **ARTICLE 2  
FORMATION AND ORGANIZATION**

2.1. **Formation.** The Company has formed a manager-managed California limited liability company under the laws of the State of California by filing Articles of Organization (“*Articles*”) with the California Secretary of State on April 23, 2015 and adopting this Operating Agreement. The rights and liabilities of the Members shall be determined pursuant to the California Revised Uniform Limited Liability Act as codified in California Corporations Code Section 17701.01 *et seq.* (the “*Act*”) and pursuant to the terms of this Agreement. In the event of a conflict between the terms of the Act and this Agreement, the terms of this Agreement shall control, unless expressly prohibited in the Act, in which case the terms of the Act shall control.

2.2. **Name.** The name of the Company is BYGMUSIC LLC. The Company may conduct business under that name or any other name approved by the Manager and may take such actions as the Manager may determine to preserve the Company’s rights and interests in any name, including, but not limited to, filing any fictitious name certificates and similar filings, and any amendments thereto, that the Manager considers appropriate or advisable. The Manager shall give prompt notice to each of the Members of any change to the name of the Company.

2.3. **Office; Registered Agent.** The Company will continuously maintain an office and registered agent in the State of California as required by the Act. The principal executive office of the Company is located at 325 11th Street, Unit D, Manhattan Beach, California 90266, or such other location as the Manager may designate from time to time. The registered agent for service of process on the Company will be Sean S. Varner whose address is 3750 University Avenue, Suite 610, Riverside, California 92501, or any other person or entity designated by the Manager from time to time.

2.4. **Purpose.** The purpose of the Company shall be to conduct any lawful business, purpose or activity which may be engaged in by a limited liability company organized under the Act, as such business activities may be determined by the Members from time to time. Without limiting the preceding sentence, the Company specifically intends to principally engage in a social media software platform enterprise. The Company shall have the power to do any and all acts and things necessary, appropriate, proper, advisable, incidental to or convenient for the furtherance and accomplishment of such purposes, and for the protection and benefit of its business.

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2.5. Title to Assets; No Partition. No real or personal property of the Company shall be deemed to be owned by any Member individually, but shall be owned by, and title shall be vested solely in, the Company. Without limiting the foregoing, each Member hereby irrevocably waives during the term of the Company any right that such Member may have to maintain any action for partition with respect to the property of the Company.

2.6. Duration. The term of the Company commenced as of the date of the filing of the Articles and shall be perpetual, unless sooner terminated under Article 13 of this Agreement.

2.7. Limitation of Liability. The Members intend the Company to be a limited liability company under the Act, classified as a partnership for federal, and to the maximum extent possible, state income taxes. No Member shall take any action inconsistent with the express intent of the parties to this Agreement. The liability of each Member and each employee of the Company, if any, to third parties for obligations of the Company shall be limited to the fullest extent provided in the Act and other applicable law.

2.8. Manager. The property and affairs of the Company shall be managed by Krishan Sharma, until his successor is selected in the manner provided in Section 10.2 below and shall serve all functions assigned to the "Manager" (as that term is defined in Section 17701.02(n) of the Act) in accordance with the terms of this Agreement.

### ARTICLE 3
CAPITAL CONTRIBUTIONS; LOANS AND OTHER BUSINESS TRANSACTIONS

3.1. Capital Structure. The Membership Interests of the Members shall be represented by issued and outstanding Units, which may be divided into one or more types, classes or series. Each type, class or series of Units shall have the privileges, preferences, duties, liabilities, obligations and rights, including voting rights, if any, set forth in this Agreement with respect to such type, class or series. The Manager shall maintain a schedule of all Members, their respective mailing addresses and the amount and series of Units held by them (the "Members Schedule") and shall update the Members Schedule upon the issuance or Transfer of any Units to any new or existing Member. A copy of the Members Schedule as of the execution of this Agreement is attached hereto as Schedule A.

3.1.1. Authorization and Issuance of Preferred Units. Subject to compliance with Section 4.3 and Article 12 below, the Company is hereby authorized to issue a class of Units designated as Preferred Units. Such class of Units designated as Preferred Units may have one or more series and such privileges, preferences, duties, liabilities, obligations and rights, including voting rights, preference (with respect to Distributions, in liquidation or otherwise) over any other Units and any contributions required in connection therewith, as is determined by the Manager, in his sole discretion, consistent with the terms herein. The Manager is hereby authorized and directed to negotiate and enter into agreements with each Member to whom it grants Preferred Units, which such agreement shall include terms, conditions, rights and obligations that the Manager has determined shall be associated with the issued Preferred Units, in its sole discretion, consistent with the terms herein.

3.1.2. Authorization and Issuance of Founder Units. Subject to compliance with Section 4.3 and Article 12 below, the Company is hereby authorized to issue a class of Units designated as Founder Units. Such class of Units designated as Founder Units may have one or more series and such privileges, preferences, duties, liabilities, obligations and rights, including voting rights, preference (with respect to Distributions, in liquidation or otherwise) over any other Units and any contributions required in connection therewith, as is determined by the Manager, in his sole discretion, consistent with the terms herein. The Manager is hereby authorized and directed to negotiate and enter into agreements with each Member to whom it grants Founder Units, which such agreement shall include terms, conditions, rights and obligations

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that the Manager has determined shall be associated with the issued Founder Units, in its sole discretion, consistent with the terms herein.

3.1.3. Authorization and Issuance of Common Units. Subject to compliance with Section 4.3 and Article 12 below, the Company is hereby authorized to issue a class of Units designated as Common Units. Such class of Units designated as Common Units may have one or more series and such privileges, preferences, duties, liabilities, obligations and rights, including voting rights, preference (with respect to Distributions, in liquidation or otherwise) over any other Units and any contributions required in connection therewith, as is determined by the Manager, in his sole discretion, consistent with the terms herein. The Manager is hereby authorized and directed to negotiate and enter into agreements with each Member to whom it grants Common Units, which such agreement shall include terms, conditions, rights and obligations that the Manager has determined shall be associated with the issued Common Units, in its sole discretion, consistent with the terms herein.

### 3.1.4. Authorization and Issuance of Profits Participation Units.

(a) Subject to Section 3.1.4(b) below, the Company is hereby authorized to issue Profits Participation Units to Managers, Officers, employees, consultants, advisors or other service providers of the Company or any subsidiary of the Company (collectively, "Service Providers"). The Manager is hereby authorized and directed to adopt a written plan pursuant to which all Profits Participation Units shall be granted in compliance with Rule 701 of the Securities Act or another applicable exemption (such plan as in effect from time to time, the "Profits Participation Plan"). In connection with the adoption of the Profits Participation Plan and issuance of Profits Participation Units, the Manager is hereby authorized to negotiate and enter into agreements with each Service Provider to whom it grants Profits Participation Units (such agreements referred to as the "Profits Participation Agreements"). Each Profits Participation Agreement shall include such terms, conditions, rights and obligations as may be determined by the Manager, in its sole discretion, consistent with the terms herein.

(b) Notwithstanding anything contained herein to the contrary, the number of Profits Participation Units that the Company may issue pursuant to the Profits Participation Plan, whether vested or not, shall not exceed twenty percent (20%) of the aggregate total of all Units outstanding on a Fully Diluted Basis as of the date of the proposed grant. If the Company determines, in its sole discretion, to raise additional equity, the Profits Participation shall be diluted pari passu with the then current Membership Interests calculated as if the then current Members of the Company did not participate in the equity raise.

(c) Immediately prior to each subsequent issuance of Profits Participant Units following the initial issuance as of the date hereof described in the second sentence of Section 3.1.4(a) above, the Manager shall determine in good faith the Profits Participation Liquidation Value. In each Profits Participation Agreement the Company enters into with a Service Provider for the issuance of new Profits Participation Units, the Manager shall include an appropriate Profits Interest Hurdle for such Profits Participation Units based on the Profits Participation Liquidation Value immediately prior to the issuance of such Profits Participation Units.

(d) The Company and each Member hereby acknowledge and agree that, with respect to any Service Provider, such Service Provider's Profits Participation Units constitute a "profits interest" in the Company within the meaning of Rev. Proc. 93-27 (a "Profits Interest"), and that any and all Profits Participation Units received by a Service Provider are received in exchange for the provision of services by the Service Provider to or for the benefit of the Company in a Service Provider capacity or in anticipation of becoming a Service Provider. The Company and each Service Provider who receives Profits Participation Units hereby agree to comply with the provisions of Rev. Proc. 2001-43, and neither the Company nor any Service Provider who receives Profits Participation Units shall perform any act or take any position inconsistent with the application of Rev. Proc. 2001-43 or any future Internal Revenue Service

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guidance or other governmental authority that supplements or supersedes the foregoing Revenue Procedures.

(e) Profits Participation Units shall receive the following tax treatment:

(i) the Company and each Service Provider who receives Profits Participation Units shall treat such Service Provider as the owner of such Profits Participation Units from the date of their receipt, and the Service Provider receiving such Profits Participation Units shall take into account his, her or its Distributive share of Net Income, Net Loss, income, gain, loss and deduction associated with the Profits Participation Units in computing such Service Provider's income tax liability for the entire period during which such Service Provider holds the Profits Participation Units.

(ii) each Service Provider that receives Profits Participation Units shall make a timely and effective election under Code Section 83(b) with respect to such Profits Participation Units and shall promptly provide a copy to the Company. Except as otherwise determined by the Manager, both the Company and all Members shall (A) treat such Profits Participation Units as outstanding for tax purposes, (B) treat such Service Provider as a partner for tax purposes with respect to such Profits Participation Units and (C) file all tax returns and reports consistently with the foregoing. Neither the Company nor any of its Members shall deduct any amount (as wages, compensation or otherwise) with respect to the receipt of such Profits Participation Units for federal income tax purposes.

(iii) in accordance with the finally promulgated successor rules to Proposed Regulations Section 1.83-3(l) and IRS Notice 2005-43, each Member, by executing this Agreement, authorizes and directs the Company to elect a safe harbor under which the fair market value of any Profits Participation Units issued after the effective date of such Proposed Regulations (or other guidance) will be treated as equal to the liquidation value (within the meaning of the Proposed Regulations or successor rules) of the Profits Participation Units as of the date of issuance of such Profits Participation Units. In the event that the Company makes a safe harbor election as described in the preceding sentence, each Member hereby agrees to comply with all safe harbor requirements with respect to Transfers of Units while the safe harbor election remains effective.

3.1.5. Other Issuances. In addition to the Preferred Units, Founder Units, Common Units and Profits Participation Units, the Company is hereby authorized, subject to compliance with Section 4.3 below and Article 12 below, to authorize and issue or sell any of the following (collectively, '*New Interests*'): (i) any new type, class or series of Units not otherwise described in this Agreement, which Units may be designated as classes or series of the Preferred Units, Founder Units, Common Units or Profit Participation Units but having different rights; and (ii) Unit Equivalents. The Manager is hereby authorized, subject to Section 15.2, to amend this Agreement to reflect such issuance and to fix the relative privileges, preference, duties, liabilities, obligations and rights of any such New Interests, including the number of such New Interests to be issued, the preference (with respect to Distributions, in liquidation or otherwise) over any other Units, any contributions required in connection therewith and the resulting adjustments to the percentage voting rights and profits rights on Schedule A (which shall dilute the all Units except as otherwise agreed with holders of Preferred Units pursuant to a separate agreement).

3.1.6. Certification of Units. The Manager may, but shall not be required to, issue certificates to the Members representing the Units held by such Member. In the event that the Manager shall issue certificates representing Units, then in addition to any other legend required by applicable law, all certificates representing issued and outstanding Units shall bear a legend substantially in the following form:

THE UNITS REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE OPERATING AGREEMENT AMONG THE COMPANY AND ITS MEMBERS, A COPY OF WHICH IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICE OF THE COMPANY. NO TRANSFER, SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION

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OR OTHER DISPOSITION OF THE UNITS REPRESENTED BY THIS CERTIFICATE MAY BE MADE EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF SUCH OPERATING AGREEMENT.

THE UNITS REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS AND MAY NOT BE TRANSFERRED, SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED EXCEPT (A) PURSUANT TO A REGISTRATION STATEMENT EFFECTIVE UNDER SUCH ACT AND LAWS, OR (B) PURSUANT TO AN EXEMPTION FROM REGISTRATION THEREUNDER.

3.2. Loans and Other Business Transactions. Upon consent of the Manager: (i) any Member may, at any time, make or cause a loan to be made to the Company in any amount and on those terms upon which the Company and the Manager agree; and (ii) Members may also transact other business with the Company and, in doing so, they shall have the same rights and be subject to the same obligations arising out of any such business transaction as would be enjoyed by and imposed upon any Person, not a Member, engaged in a similar business transaction with the Company. Loans by any Member to the Company shall not be considered Capital Contributions and shall not affect the maintenance of such Member's Capital Account, other than to the extent provided in Section 6.3.1(d) below, if applicable.

#### **ARTICLE 4 MEMBERSHIP**

4.1. Members. The name, present mailing address, and Units of the Members are set forth on Schedule A. Schedule A will be amended by the Manager from time to time on the admission of an Additional Member or Substitute Member, to set forth that Member's name, present mailing address, taxpayer identification numbers (if any) and Units.

4.2. Personal Nature of Membership Units. The Membership Units shall be personal property for all purposes. All property, real or personal, which the Company owns shall be deemed owned by the Company as an entity and not by any Member.

4.3. Admission of New Members. New Members may be admitted from time to time: (i) in connection with an issuance of Units by the Company; and (ii) in connection with a Transfer of Units, subject to compliance with this Agreement.

4.3.1. Additional Member(s). New Members admitted from time to time in connection with an issuance of Units by the Company are referred to as '*Additional Person(s)*.' Additional Person(s) may be issued Units and admitted to the Company as Additional Member(s) upon terms determined by the Manager in accordance with this Agreement.

4.3.2. Admission of Substitute Member(s). New Members admitted from time to time in connection with a Transfer of Units are referred to as '*Substitute Member(s)*.' No transferee of a Membership Interest may be admitted as a Substitute Member with all the rights of the Member who assigned the Membership Interest without the approval of the Manager. If so admitted with such approval, the Substitute Member shall have all the rights and duties of the Member who assigned the Membership Interest. If not so admitted, the transferee shall have a Transferable Interest only and shall not have Membership Rights. Admission of a Substitute Member shall not release a transferring Member from any obligations or liability to the Company which the transferring Member incurred before the transfer.

4.4. Conditions to Admissions of New Members. In order for any Person not already a Member of the Company to be admitted as a Member, whether pursuant to an issuance or Transfer of Units, such

5

Person shall have executed and delivered to the Company a written undertaking agreeing to be bound by and abide by the terms and conditions of this Agreement. Upon the amendment of the Members Schedule by the Manager and the satisfaction of any other applicable conditions, including, if a condition, the receipt by the Company of payment for the issuance of the applicable Units, such Person shall be admitted as a Member and deemed listed as such on the books and records of the Company and thereupon shall be issued his, her or its Units. The Manager shall also adjust the Capital Accounts of the Members as necessary in accordance with Section 6.2.2 below.

#### 4.5. Dissociation of a Member.

4.5.1. **Dissociation Rights.** A Member may dissociate from the Company at any time upon sixty (60) days' prior written notice to the Manager, without prejudice to the rights, if any, of the Company or the other Members under any contract other than this Agreement to which the dissociating Member is a party. Dissociation shall not release a Member from any obligations or liabilities under this Agreement accrued or incurred before the effective date of dissociation. Furthermore, the dissociating Member will thereafter be subject to the following: (i) the Member will only have a Transferable Interest in the Company (without any Membership Rights); (ii) the Membership Interest is subject to purchase and sale at the Enterprise Value (as defined in Section 12.7 below) by the Company and/or remaining Members under the terms of the Right of First Refusal set forth in Section 12.3 below; (iii) the Company will not be required to distribute any property or other assets or any portion of the Capital Contributions or Capital Account of the dissociating Member until similar distributions are made to Members who have not resigned or dissociated from the Company; and (iv) the Member will be liable to the Company and the other Members for damages caused by the dissociation.

4.5.2. **Occurrence of a Dissociation Event.** Upon the occurrence of a Dissociation Event, the Dissociated Member shall be deemed to have offered his/her/its Membership Interest for sale at book value in accordance with Section 12.3 below. In addition, upon such Dissociation Event, the Dissociated Member shall no longer be deemed a Member of the Company but shall continue to have a Transferable Interest in the Company.

4.5.3. **Admission as Substitute Member.** Notwithstanding Section 4.5.2 above, within ninety (90) days after the expiration of the Company's right to repurchase a Membership Interest, which right to repurchase resulted from a Dissociation Event, any party acquiring the Transferable Interest in the Company as a result of a Dissociation Event may request in writing admission to the Company as a Substitute Member. If the acquiring party's request for admission as a Substitute Member is denied (as evidenced either in writing or by the Company's failure to respond within fifteen (15) days of Company's receipt of any such request), said acquiring party shall continue as a Transferee. If no timely request for Substitute Member status is made, the acquiring party shall thereafter have only the rights of a Transferee under this Agreement.

4.6. **No Personal Liability.** Except as otherwise provided in the Act, by applicable law or in Sections 8.3, 8.5 and 9.1 of this Agreement, no Member will be obligated personally for any debt, obligation or liability of the Company or of any Company's subsidiaries or other Members, whether arising in contract, tort or otherwise, solely by reason of being a Member. Nothing herein shall be deemed a waiver of any of the Company's rights, at law or in equity if a Member breaches this Agreement.

### MEMBER MEETINGS AND VOTING

5.1. **Voting.** Except as otherwise provided by this Agreement, including, without limitation, Section (a) and 15.2 below or as otherwise required by the Act or applicable law:

(a) each Member shall be entitled to one vote per Common Unit and one vote per Founder Unit on all matters upon which the Members have the right to vote under this Agreement; and

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(b) the Preferred Units and the Profit Participation Units shall not entitle the holders thereof to vote on any matters required or permitted to be voted on by the Members, except as may be required under Section 17710.01 *et seq.* of the Act with respect to a merger or conversion.

5.2. Voting Units. As used herein, the term “*Voting Units*” shall mean: Common Units and Founder Units.

5.3. Member Meetings. Meetings of the Members shall not be required.

5.3.1. Calling the Meeting. In the event a meeting of the Members is desired, the Manager or any Member or group of Members entitled to vote and holding no less than twenty percent (20%) of the then-outstanding votes attributable to the relevant Voting Units may call a meeting upon written request to the Company. Only Members who hold the relevant Voting Units (“*Voting Members*”) shall have the right to attend meetings of the Members.

5.3.2. Notice. Notice of the meeting, shall be noticed in writing no earlier than sixty (60) days, nor later than ten (10) days, prior to the meeting date, and shall specify, at a minimum, the time, purpose and location of the meeting. Members representing a majority of the appropriate Voting Units held by all Members shall constitute quorum for the transaction of business at any Member Meeting. Subject to Section 5.4 below, no action at any meeting may be taken by the Members unless the appropriate quorum is present. Subject to Section 5.4 below, no action may be taken by the Members at any meeting at which a quorum is present without the affirmative vote of Members holding a majority of the appropriate Voting Units held by all Members. Subject to Section 5.4 below, unless otherwise set forth in this Agreement or required by the Act, all Member votes on any matter shall require an affirmative vote of a majority of the appropriate Voting Units held by all Members.

5.3.3. Participation. Any Voting Member may participate in a meeting of the Voting Members by means of conference telephone or other communications equipment by means of which all Persons participating in the meeting can hear each other, and participation in a meeting by such means shall constitute presence in person at such meeting.

5.4. Written Consent. Notwithstanding the provision of Section 5.3 above, any action required or permitted to be taken at any meeting of the Voting Members may be taken without a meeting if the Voting Members with the percentage of votes sufficient to approve the action pursuant to the terms of this Agreement resolve thereto in writing (including, without limitation, in electronic form). In no instance where action is authorized by written resolution shall it be required that a meeting of the Voting Members be called or notice be given; however, upon passage, a record of the action taken by written resolution of the Voting Members shall be maintained by the Manager and distributed to all Members entitled to a vote on the matters discussed therein.

5.5. Membership Rights. The Members have vested the management of the Company in the Manager and shall have no management rights. A Member’s “*Membership Rights*” includes all rights of a Member other than the Member’s Transferrable Interest and shall include the following rights and powers, subject to the terms of this Agreement:

5.5.1. With respect to holders of Common Units and Founder Units, to appoint, remove and replace the Manager in accordance with Section 10.2 below;

5.5.2. To inspect the books, records and accounts of the Company in accordance with Section 11.2 below;

5.5.3. To approve or deny a plan for merger or conversion in accordance with Section 17710.01 *et seq.* of the Act and this Agreement;

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5.5.4. With respect to holders of Common Units and Founder Units, to approve or deny a dissolution or termination of the Company in accordance with Section 13.2 below; and

5.5.5. With respect to holders of Common Units and Founder Units, to the extent expressly permitted by this Agreement and the Act, to vote on or grant consent or approval concerning matters coming before the Company.

5.6. Independent Activities. Each Member, any partner, shareholder, officer, director or employee thereof, or any person owning a legal or beneficial interest therein, may engage in or possess an interest in any other business or venture of every nature and description, independently or with others, including those which may be the same as or similar to or compete with the Company's business. Neither the Company nor any Member shall have any right, by virtue of this Agreement, in and to such independent ventures or the income or profits derived therefrom. The Members have no duty to submit to the Company any business opportunities in which it may be in any way interested, and the Members shall have the right to take for their own account (individually or otherwise) or to recommend to others any such investment opportunity.

# 5.7. Compensation and Expenses.

5.7.1. Compensation to Members. Except as required by law, or elsewhere provided in this Agreement or as otherwise approved by the Manager, no Member shall be entitled to any compensation for services or activities undertaken in his/her/its capacity as a Member.

5.7.2. Business Expenses. The Company shall promptly reimburse the Members for reasonable and ordinary business expenses that they incur in connection with the Company's business, contingent upon the following: (i) submission of substantiating documentation (such as receipts, paid bills or canceled checks) containing information sufficient to establish the amount and character of any such expenditure; and (ii) prior approval from the Manager.

## ARTICLE 6
CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS

6.1. Initial Capital Contributions. Contemporaneously with the execution of this Agreement, each Member has made Initial Capital Contributions to the Company in such amounts, or forms, as set forth on Schedule A and is deemed to own the number, type, series and class of Units, in each case, in the amounts set forth opposite such Member's name on the Members Schedule. The Manager shall update the Members Schedule upon the issuance or Transfer of any Units to any new or existing Member in accordance with this Agreement.

# 6.2. Additional Capital Contributions.

6.2.1. No Member shall be required to make any additional Capital Contributions.

6.2.2. Any future Capital Contributions made by any Member shall only be made with the consent of the Manager and in connection with an issuance of Units made in compliance with this Agreement. No Member shall be required to lend any funds to the Company and no Member shall have any personal liability for the payment or repayment of any Capital Contribution by or to any other Member.

6.3. Maintenance of Capital Accounts. An individual Capital Account shall be established and maintained on the Company's books for each Member in accordance with this Section 6.3. If a Membership Interest is transferred in accordance with this Agreement, the Transferee shall succeed to the Capital Account of the transferor to the extent it relates to the transferred Units. The balance of each Member's Capital Account shall be calculated in accordance with the following provisions:

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6.3.1. Additions to Capital Account. Each Member's Capital Account shall be increased by:

(a) such Member's Capital Contributions, including Initial Capital Contribution;

(b) such Member's distributive share of Net Profit not yet distributed thereto;

(c) any items in the nature of income or gain that are specially allocated to that Member but not yet distributed to that Member; and

(d) the amount of any Company liabilities assumed by such Member or secured by any Company property distributed to such Member.

6.3.2. Subtractions from Capital Account. Each Member's Capital Account shall be decreased by:

(a) the amount of cash and the Book Value of any Company assets distributed to such Member pursuant to any provision of this Agreement (net of liabilities encumbering such distributed asset that the recipient Member is considered to assume pursuant to Section 752 of the Code);

(b) such Member's distributive share of Net Loss;

(c) any items in the nature of expenses or losses which are specially allocated to that Member pursuant to the terms of this Agreement; and

(d) the amount of any liabilities of such Member assumed by the Company or which are secured by any property contributed by such Member to the Company.

6.3.3. Negative Capital Accounts. In the event that any Member shall have a deficit balance in his, her or its Capital Account, such Member shall have no obligation, during the term of the Company or upon dissolution or liquidation thereof, to restore such negative balance or make any Capital Contributions to the Company by reason thereof, except as may be required by applicable law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.

6.3.4. No Withdrawal from Capital Accounts. No Member shall be entitled to withdraw any part of his, her or its Capital Account or to receive any Distribution from the Company, except as provided in this Agreement. No Member shall receive any interest, salary or drawing with respect to its Capital Contributions or its Capital Account, except as otherwise provided in this Agreement. The Capital Accounts are maintained for the sole purpose of allocating items of income, gain, loss and deduction among the Members and shall have no effect on the amount of any Distributions to any Members, in liquidation or otherwise.

6.3.5. Capital Account Adjustment. If the Book Value of Company assets are adjusted as described in the definition of Book Value in Appendix 1, the Capital Accounts of all Members shall be adjusted simultaneously to reflect the aggregate net adjustment as if the Company recognized gain or loss equal to the amount of such net adjustment.

6.4. No Interest. The Company will not pay any interest on Capital Contributions or on the balance of a Member's Capital Account.

6.5. Compliance with Regulations. The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with Sections 1.704-1(b) and 1.704-2 of the Regulations, and shall be interpreted and applied in a manner consistent with the

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Regulations. If the Manager determines that it is prudent to modify the way the Capital Accounts, or any increases or decreases to the Capital Accounts, are computed in order to comply with such Treasury Regulations, the Manager may authorize such modifications if it is not likely to have a material effect on the amounts distributed to any Member upon dissolution of the Company.

## ARTICLE 7
ALLOCATIONS OF NET PROFIT AND NET LOSS

7.1. Net Loss. Unless otherwise stated in this Agreement, Net Loss will be allocated to the Members in proportion to their Membership Interests for Company book purposes. Notwithstanding the previous sentence, loss allocations to a Member will, to the extent possible, be made only to the extent that the loss allocations do not create a deficit Capital Account balance for that Member in excess of an amount, if any, equal to that Member's share of Minimum Gain of the Company. Any loss not allocated to a Member because of the foregoing provision will be allocated to the other Members (to the extent the other Members are not limited in respect of the allocation of losses under this Section 7.1). Any loss reallocated under this Section 7.1 will be taken into account in computing subsequent allocations of income and losses pursuant to this Article 7, so that the net amount of any item so allocated and the income and losses allocated to each Member pursuant to this Article 7, to the extent possible, will be equal to the net amount that would be allocated to each Member pursuant to this Article 7, if no reallocation of losses occurred under this Section 7.1.

7.2. Net Profit. Net Profit shall be allocated among the Members in the same proportion as Company Cash Flow is distributed to the Members pursuant to Article 8 of this Agreement.

7.3. Allocations for Tax Purposes.

7.3.1. Tax Allocations. For income tax purposes, each item of income, gain, loss or deduction of the Company shall be allocated among the Members in accordance with the method in which equivalent items of Net Profit or Net Loss are allocated pursuant to this Article 7. The foregoing provisions and the other provisions of this Agreement relating to the allocation of Net Losses and Net Profits are intended to comply with the Regulations, and if any special allocations are required in the reasonable opinion of the Company's tax advisor to give substantial economic effect to allocated Net Losses and Net Profits pursuant to the Regulations, such special allocations shall be made in the minimum amounts required to satisfy the Regulations. In the case of any special tax allocations allowed under the Code or Regulations, the method of allocation and formula determined by the Company's tax advisor shall be followed so long as it complies with state law, the Code, the Regulations and fairly treats each Member. The method of tax allocation selected by the Tax Matters Partner or Partnership Representative shall be presumed to be "fair to all members" and any Member or party challenging said allocation on these grounds shall bear the burden of proof.

7.3.2. Allocation upon Transfer of Membership Interests. Net Profit and Net Loss, together with corresponding tax items, shall be allocated between a transferring Member and the Substitute Member using any method selected by the Manager which is permitted by Section 706 of the Code.

## ARTICLE 8
DISTRIBUTIONS

Any Distributions made are subject to the limitations of Section 17704.04 et seq. of the Act and this Article 8. Subject to this Article 8, the Manager may authorize distributions of the Company Cash Flow at such times and frequencies as the Manager may so elect.

8.1. Priority of Distributions. Subject to the priority of Distributions pursuant to Section 13.4.2 below, if applicable, all authorized Distributions shall be made in the following manner:

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8.1.1. First, the Founder Units shall be allocated twenty-five percent (25%) of all distributions of the Company until the Company has returned four hundred thousand dollars and zero cents ($400,000.00);

8.1.2. Second, to satisfy preferred rights, if any, of Members holding Preferred Units; and

8.1.3. Third, to the Members holding Common Units, Founder Units and vested Profit Participation Units, and to any Members holding Preferred Units having a right to distributions in addition to preferred rights, pro rata in proportion to their aggregate holdings of Common Units, Founder Units and vested Profit Participation Units (and any Members holding Preferred Units having a right to distributions in addition to preferred right) treated as one class of Units.

# 8.2. Limitations on Distributions to Profit Participation Units.

8.2.1. Notwithstanding the provisions of Section 8.1.3 above, no Distribution (other than tax advances) shall be made to a Member on account of its Profit Participation Units that have not vested pursuant to the terms of the Profit Participation Plan and any associated Profit Participation Agreement are referred to as "Restricted Profit Participation Units". Any amount that would otherwise be distributed to such a Member but for the application of the preceding sentence shall instead be retained in a segregated Company account to be distributed in accordance with Section 8.1.3 above by the Company and paid to such Member if, as and when the Restricted Profits Participation Unit to which such retained amount relates vests pursuant to its proscribed vesting schedule.

8.2.2. It is the intention of the parties to this Agreement that Distributions to any Service Provider with respect to Profit Participation Units be limited to the extent necessary so that the related Membership Interest constitutes a Profits Interest. In furtherance of the foregoing, and notwithstanding anything to the contrary in this Agreement, the Manager shall, if necessary, limit any Distributions to any Service Provider with respect to Profit Participation Units so that such Distributions do not exceed the available profits in respect of such Service Provider's related Profits Interest. Available profits shall include the aggregate amount of profit and unrealized appreciation in all of the assets of the Company between the date of issuance of such Profit Participation Units and the date of such Distribution, it being understood that such unrealized appreciation shall be determined on the basis of the Profits Interest Hurdle applicable to such Profit Participation Unit. In the event that a Service Provider's Distributions and allocations with respect to his Profit Participation Units are reduced pursuant to the preceding sentence, an amount equal to such excess Distributions shall be treated as instead apportioned to the holders of Profit Participation Units that have met their Profits Interest Hurdle ("Qualifying Profit Participation Units"), pro rata in proportion to their aggregate holdings of Common Units and Qualifying Profit Participation Units treated as one class of Unit.

8.3. Return of Distributions in Certain Circumstances. A Member is only obligated to return a Distribution to the extent required under Section 17704.05 of the Act (or elsewhere in the Act). The Manager will endeavor to refrain from authorizing any Distributions that would result in such requirement.

8.4. No Distributions in Kind. Except as otherwise provided in Section 13.4.2 below or determined by the Manager, the Members shall not have the right to demand or receive property other than cash in return of Capital Contributions or as to Distributions.

# 8.5. Tax Withholding; Withholding Advances.

8.5.1. Tax Withholding. If requested by the Manager, each Member shall, if able to do so, deliver to the Manager:

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(a) An affidavit in form satisfactory to the Manager that the applicable Member (or its members, as the case may be) is not subject to withholding under the provisions of any federal, state, local, foreign or other applicable law;
(b) Any certificate that the Manager may reasonably request with respect to any such laws; or
(c) Any other form or instrument reasonably requested by the Manager relating to any Member's status under such law.

8.5.2. Withholding Advances. The Company is hereby authorized at all times to make payments ("Withholding Advances") with respect to each Member in amounts required to discharge any obligation of the Company (as determined by the Tax Matters Member or Partnership Representative based on the advice of legal or tax counsel to the Company) to withhold or make payments to any federal, state, local or foreign taxing authority (a "Taxing Authority") with respect to any Distribution or allocation by the Company of income or gain to such Member (including payments made pursuant to Code Section 6225 as amended by the Bipartisan Budget Act of 2015 ("BBA") and allocable to a Member as determined by the Tax Matters Member or Partnership Representative in its sole discretion) and to withhold the same from Distributions to such Member. Any funds withheld from a Distribution by reason of this Section 8.5.2 shall nonetheless be deemed Distributed to the Member in question for all purposes under this Agreement and, at the option of the Manager, shall be charged against the Member's Capital Account.

8.5.3. Repayment of Withholding Advances. Any Withholding Advance made by the Company to a Taxing Authority on behalf of a Member and not simultaneously withheld from a Distribution to that Member shall, with interest thereon accruing from the date of payment at a rate equal to the prime rate published in the Wall Street Journal on the date of payment plus two percent (2.0%) per annum (the "Company Interest Rate"):

(a) be promptly repaid to the Company by the Member on whose behalf the Withholding Advance was made (which repayment by the Member shall not constitute a Capital Contribution, but shall credit the Member's Capital Account if the Manager shall have initially charged the amount of the Withholding Advance to the Capital Account); or
(b) with the consent of the Manager, be repaid by reducing the amount of the next succeeding Distribution or Distributions to be made to such Member (which reduction amount shall be deemed to have been Distributed to the Member, but which shall not further reduce the Member's Capital Account if the Manager shall have initially charged the amount of the Withholding Advance to the Capital Account).

Interest shall cease to accrue from the time the Member on whose behalf the Withholding Advance was made repays such Withholding Advance (and all accrued interest) by either method of repayment described above.

8.5.4. Overwithholding. Neither the Company nor the Manager shall be liable for any excess taxes withheld in respect of any Distribution or allocation of income or gain to a Member. In the event of an overwithholding, a Member's sole recourse shall be to apply for a refund from the appropriate Taxing Authority.

8.5.5. Indemnification. Each Member hereby agrees to indemnify and hold harmless the Company and the other Members from and against any liability with respect to taxes, interest or penalties which may be asserted by reason of the Company's failure to deduct and withhold tax on amounts of Distributions or allocable to such Member. The provisions of this Section 8.5.5 shall survive the termination, dissolution, liquidation and winding up of the Company and the withdrawal of such Member

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from the Company or Transfer of its Units. The Company may pursue and enforce all rights and remedies it may have against each Member under this Section 8.5.5, including bringing a lawsuit to collect repayment with interest.

### NO LIABILITY OF MEMBERS; INDEMNITY OF MEMBERS

9.1. No Liability. Consistent with Section 2.7 above, all debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Member shall be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member. This Section does not prevent a Member, should he or she so choose, from separate agreement to guaranty or otherwise become liable for a debt or obligation of the Company.

#### 9.2. Indemnification.

9.2.1. Members. The Company shall defend, indemnify and hold the Members harmless from and against any loss, claims, damages, liabilities, expenses, judgments, fines or settlements arising from any claims (including reasonable legal expenses and other costs of defense), demands, actions, suits or proceedings (civil, criminal, administrative or investigative) in which they may be involved, as a party or otherwise, by reason of their management of, or involvement in, the affairs of the Company, or which relate to the Company, its business or affairs, if the indemnitee acted in good faith and in a manner the indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company, and, concerning any criminal proceeding, had no reasonable cause to believe the conduct of the indemnitee was unlawful. The termination of a proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere, or its equivalent, shall not, of itself, create a presumption that the indemnitee did not act in good faith and in a manner which the indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company or that the indemnitee had reasonable cause to believe that the indemnitee's conduct was unlawful, unless there has been a final adjudication in the proceeding that the indemnitee did not act in good faith and in a manner which the indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company.

9.2.2. Expenses. To the fullest extent permitted by applicable law, expenses (including legal fees) incurred by the Members in defending any claim, demand, action, suit or proceeding arising from a Member's act or omission (whether or not constituting negligence or gross negligence) performed or omitted by them on behalf of the Company, shall, from time to time, be advanced by the Company prior to the final disposition of such claim, demand, action, suit or proceeding.

9.2.3. Manager, Directors, Officers and Agents. The Company shall have the power to indemnify any Person who was or is a party, or who is threatened to be made a party, to any legal proceeding by reason of the fact that the Person was or is a manager, director, officer, employee or other agent of the Company, or was or is serving at the request of the Company in any capacity, against expenses, judgments, fines, settlements and other amounts actually and reasonably incurred by that Person in connection with the proceeding, if that Person acted in good faith and in a manner that the Person reasonably believed to be in the best interests of the Company, and, in the case of a criminal proceeding, the Person had no reasonable cause to believe that the Person's conduct was unlawful. The termination of a proceeding by judgment, order, settlement, conviction or upon a plea of nolo contendere, or its equivalent, shall not, of itself, create a presumption that the indemnitee did not act in good faith and in a manner which the indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company or that the indemnitee had reasonable cause to believe that the indemnitee's conduct was unlawful, unless there has been a final adjudication in the proceeding that the indemnitee did not act in good faith and in a manner which the indemnitee reasonably believed to be in, or not opposed to, the best interests of the Company, or that the Person had reasonable cause to believe that the Person's conduct was unlawful.

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9.2.4. Nonexclusive Right. The indemnification provided by this Section is not exclusive of any other rights to which any Person may be entitled under any Agreement, or as a matter of law, or otherwise.

9.2.5. Former Member. All provisions of this Article 9 shall apply to any former Member of the Company for all actions or omissions taken while such person was a Member of the Company to the same extent as if such person were still a Member of the Company.

9.2.6. Insurance. The Company may purchase and maintain insurance, to the extent and in such amounts as the Members shall, in their sole discretion, deem reasonable, on behalf of Members, as that term is defined in any insurance policy obtained by the Company, and such other persons or entities as the Members shall determine, against any liability that may be asserted against, or expenses that may be incurred by, any such person or entity in connection with the activities of the Company or such indemnities, regardless of whether the Company would have the power to indemnify such person or entity against such liability under the provisions of this Agreement.

## ARTICLE 10
MANAGEMENT

10.1. Manager. The Company shall be manager-managed by the Manager named in Section 2.8 above until his successor is appointed in accordance with Section 10.2 below. Subject to Section 5.5 of this Agreement, the Manager shall have full and complete discretion to manage and control the business, property, activities and affairs of the Company, to make all decisions affecting the business, property, activities and affairs of the Company and to take all such actions as it deems necessary or appropriate to accomplish the purposes of the Company set forth in Section 2.4 above. The actions of the Manager taken in accordance with the provisions of this Agreement shall bind the Company.

10.2. Term. The Manager shall serve until the earlier of the following: (a) resignation, retirement, death or disability; (b) removal by the Members in accordance with Section 10.2 below; and (c) the expiration of the Manager's term as a Manager, if such term is designated on the original appointment of the Manager.

10.3. Removal of Manager. A Manager who is not also a Member may be removed with or without cause at any time by an action of a majority of the Voting Units. A Manager who is also a Member may only be removed or replaced for Cause by the holders of a majority of the Voting Units including those held by the Manager. Following such removal or replacement, a successor Manager shall be elected by the holders of a majority of the Voting Units, including those held by the immediately prior Manager to the extent that Manager holds such Voting Units at the time of election. The removal of the Manager shall not affect its rights as a Member and shall not constitute a dissociation of such Member. "Cause" has the meaning set forth in any employment agreement or other written contract of engagement entered into between the Company and such Manager, or if none, then a (i) conviction of, (ii) plea of guilty to, (iii) finding by a court of law of, (iv) written declaration by the Manager consenting to an intentional act of fraud, embezzlement, theft or any other material violation of law that occurs during or in the course of the Manager's duties or the willful and continued failure to substantially perform the Manager's expressed duties for the Company (other than as a result of incapacity due to physical or mental illness).

10.4. Powers and Duties. The Manager shall preside over the day to day function of the Company, including, without limitation, the following:

10.4.1. Execute on behalf of the Company all instruments, documents and other agreements on behalf of the Company in such forms as the Manager may approve;

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10.4.2. Endorse checks, drafts or other evidence of indebtedness to the Company for deposit into one of the Company's accounts;

10.4.3. Do and perform all other acts as may be necessary or appropriate to the conduct of the Company's business;

10.4.4. Select the officers of the Company;

10.4.5. Employ accountants, legal counsel, managing agents, tradesmen, contractors, subcontractors or other Persons to perform services for the Company;

10.4.6. Maintain and purchase liability insurance to the extent deemed reasonable or prudent to protect the Company's property and business;

10.4.7. Sell, lease exchange or otherwise dispose of all, or substantially all of the Company's property outside the ordinary course of the Company's activities;

10.4.8. Commence lawsuits and other proceedings on behalf of the Company;

10.4.9. Cause the dissolution, termination, merger or conversion of the Company; and

10.4.10. Any other powers or duties that may be prescribed in this Agreement or by holders of a majority of the Voting Units.

10.5. Procedure for Action by the Manager. If there is more than one Manager, actions by the Managers shall be taken at meetings or as otherwise provided in Section 10.5.5 below by at least a majority vote of those serving as the Manager, or the number of votes otherwise sufficient to approve the action pursuant to the terms of this Agreement.

10.5.1. Meetings. No regular meetings of the Manager need be held. If there is more than one Manager, any Manager may call a Manager meeting by giving Notice of the time and place of the meeting at least forty-eight (48) hours before the time of the holding of the meeting. The Notice need not specify the purpose of the meeting, nor the location if the meeting is to be held at the principal executive office of the Company. Participation in a Manager meeting may occur through the use of conference telephone or similar communications equipment, so long as all participants in such meeting can hear one another. Participation in a meeting pursuant to the foregoing sentence constitutes presence in person at such meeting.

10.5.2. Minutes. The Manager shall keep, or cause to be kept, with the books and records of the Company full and accurate minutes of all meetings, notices and waivers of notices of meetings, and all written consents to actions by the Manager.

10.5.3. Quorum. A majority of those serving as the Manager shall constitute a quorum for the transaction of business at any Manager meeting.

10.5.4. Waiver of Notice. Notice of a meeting need not be given to any Manager who signs a waiver of notice or a consent to holding the meeting or an approval of the minutes thereof, whether before or after the meeting, or who attends the meeting without protesting, prior thereto or at its commencement, the lack of notice to such Manager. All such waivers, consents and approvals shall be filed with the corporate records or made a part of the minutes of the meeting. A waiver of notice need not specify the purpose of any Manager meeting.

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10.5.5. Action by Written Consent Without a Meeting. Any action required or permitted to be taken by the Manager may be taken without a meeting, if at least a majority of those serving as the Manager individually consent in writing to such action. Such written consent or consents shall be filed with the minutes of the proceedings of the Manager. Such action by written consent shall have the same force and effect as a vote of the Manager at a duly held meeting.

10.6. Time. It is acknowledged that a Manager may have other business interests to which that Manager devotes part of its time. A Manager shall devote as much time to the conduct of the business of the Company as that Manager, in that Manager's own good faith and discretion, deems necessary.

10.7. Compensation; No Employment. The Manager shall be compensated for his services as Manager as reasonably determined by the Manager. Manager's compensation for services rendered as Manager are wholly separate from Manager's ownership interest in the Company.

10.8. Business Expenses. The Company shall promptly reimburse the Manager for all ordinary, necessary, and direct expenses incurred by the Manager on behalf of the Company in carrying out the Company's business activities, contingent upon submission of substantiating documentation (such as receipts, paid bills or canceled checks) containing information sufficient to establish the amount and character of any such expenditure, including without limitation, salaries of officers and employees of the Manager who are carrying out the Company's business activities.

10.9. Resignation. The Manager may resign at any time by giving thirty (30) days' written notice to the Company. Any such resignation shall be effective on receipt thereof, unless it is specified to be effective at some other time or on the occurrence of some other event. The Company's acceptance of a resignation shall not be necessary to make it effective. The resignation of the Manager shall not affect its rights as a Member and shall not constitute a dissociation of such Member.

10.10. No Personal Liability. Except as otherwise provided in the Act, by applicable law, or expressly in this Agreement, the Manager will not be obligated personally for any debt, obligation or liability of the Company of any Company's subsidiaries or other Members, whether arising in contract, tort or otherwise, solely by reason of being or acting as a Manager.

10.11. No Management by Other Persons or Entities. No other Member of the Company shall have any authority or right to act on behalf of or bind the Company, unless otherwise provided herein or unless specifically authorized by the Manager pursuant to a resolution expressly authorizing such action which resolution is duly adopted by the Manager.

10.12. Officers. The Manager may appoint individuals as officers of the Company (the "Officers") as the Manager deems necessary or desirable to carry on the business of the Company and the Manager may delegate to such Officers such power and authority as the Manager deems advisable. No Officer need be a Member of the Company. Any individual may hold two or more offices of the Company. Each Officer shall hold office until his or her successor is designated by the Manager or until his or her earlier death, resignation or removal. Any Officer may resign at any time on written notice to the Manager. Any Officer may be removed by the Manager with or without cause at any time. A vacancy in any office occurring because of death, resignation, removal or otherwise may, but need not, be filled by the Manager.

10.13. Title to Assets. The Manager shall cause all assets of the Company, whether real or personal, to be held solely in the name of the Company.

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## COMPANY ACCOUNTS; ACCOUNTING; AND TAX MATTERS

11.1. **Partnership Tax Treatment.** Each Member acknowledges that it understands and intends that the arrangement created hereunder is a partnership for federal (and applicable state and local) income tax purposes and that it intends and expects to be treated as a partner thereof for such purposes. The Members agree that, unless otherwise required by appropriate tax authorities, neither the Company nor any Member shall file or cause to be filed annual returns, reports or other forms inconsistent with such stated intent. No election to treat the Company other than as a partnership for federal income tax purposes or any relevant state or local tax purposes shall be made by or on behalf of the Company or any Member.

11.2. **Book of Accounts.** Complete books of accounts of the Company's business, in which each Company transaction shall be fully and accurately entered, shall be kept at the Company's principal executive office and at other locations that the Manager shall determine from time to time, and shall be open to inspection and copying on reasonable notice by any Member or the Member's authorized representatives during normal business hours. The costs of inspection and copying shall be borne by the Member.

11.3. **Method of Accounting.** The financial books and records of the Company shall be kept on a cash basis unless changed to the accrual basis by the Manager. The financial statements of the Company shall be prepared in accordance with generally accepted accounting principles and shall be appropriate and adequate for the Company's business and for carrying out the provisions of this Agreement.

11.4. **Fiscal Year.** The Company's fiscal year (the '*Fiscal Year*') is the calendar year unless changed by the Manager in accordance with applicable tax laws.

11.5. **Records.** At all times during the term of existence of the Company, and beyond that term if the Manager deems it necessary, the Manager shall keep or cause to be kept the books of account referred to in Section 11.1 above, together with:

11.5.1. Schedule A, attached hereto, updated pursuant to Section 4.1 above;

11.5.2. A copy of the Articles, as may be amended;

11.5.3. Copies of the Company's federal, state and local income tax or information returns and reports, if any, for the six (6) most recent tax years;

11.5.4. An original executed copy or counterparts of this Agreement, as may be amended;

11.5.5. Any powers of attorney under which the Articles or this Agreement or any amendments to the Articles or this Agreement were executed;

11.5.6. Financial statements of the Company for the six (6) most recent Fiscal Years; and

11.5.7. The books and records of the Company as they relate to the Company's internal affairs for the current and past four (4) Fiscal Years.

If the Manager deems that any of the foregoing items shall be kept beyond the term of existence of the Company, the repository of those items shall be as designated by the Manager.

11.6. **Financial Statements.** At the end of each Fiscal Year, the books of the Company shall be closed and examined, statements reflecting the financial condition of the Company and its Profits or Losses shall be prepared, and a report about those matters shall be issued by the Company's certified public accountants. Copies of the financial statements shall be given to all Members. In addition, all Members

17

shall receive, not less frequently than within forty-five (45) days after the end of each calendar quarter, copies of such financial statements regarding the previous calendar quarter as may be prepared in the ordinary course of business by the Manager or accountants selected by the Manager. The Manager shall cause an annual report to be sent to each Member within one hundred and twenty (120) days after the end of the Fiscal Year of the Company. The annual report shall be sent by electronic transmission by the Company and shall include:

11.6.1. A balance sheet and income statement, and a statement of Cash Flow of the Company as of the close of the Fiscal Year; and

11.6.2. A statement showing the Capital Account of each Member as of the close of the Fiscal Year and the distributions, if any, made to each Member during the Fiscal Year. Members may request interim balance sheets and income statements, and may, at their own discretion and expense, obtain an audit of the Company books by certified public accountants selected by them; provided, however, that not more than one such audit shall be made during any Fiscal Year of the Company.

11.7. Income Tax Data and Reports. The Tax Matters Partner shall send or cause to be sent to the Members and Transferees, if any, within ninety (90) days after the end of each Fiscal Year, such information as is necessary for the Members to complete their federal and state income tax or information returns together with a copy of the Company's federal, state and local income tax or information returns for that year.

### 11.8. Tax Matters Partner; Partnership Representative.

11.8.1. Appointment; Resignation. The Members hereby appoint the Manager as the "tax matters partner" (as defined in Code Section 6231 prior to its amendment by the Bipartisan Budget Act of 2015 ("BBA") (the "Tax Matters Member") and, for tax years beginning on or after January 1, 2018, the "partnership representative" (the "Partnership Representative") as provided in Code Section 6223(a) (as amended by the BBA). The Tax Matters Member or Partnership Representative may resign at any time if there is another Member to act as the Tax Matters Member or Partnership Representative. The Tax Matters Member or Partnership Representative can be removed at any time by an affirmative vote of the holders of a majority of the Voting Units, and shall resign if it is no longer a Member. In the event of the resignation or removal of the Tax Matters Member or Partnership Representative, an affirmative vote of the holders of a majority of the Voting Units shall select a replacement Tax Matters Member or Partnership Representative. If the resignation or removal of the Partnership Representative occurs prior to the effectiveness of the resignation or removal under applicable Treasury Regulations or other administrative guidance, the resignation or removal shall be effective upon the earliest date provided for in such Treasury Regulations or administrative guidance.

11.8.2. Tax Examination and Audits. The Tax Matters Member and Partnership Representative are each authorized and required to represent the Company (at the Company's expense) in connection with all examinations of the Company's affairs by Taxing Authorities, including resulting administrative and judicial proceedings, and to expend Company funds for professional services and costs associated therewith. The Tax Matters Member and Partnership Representative shall each have sole authority to act on behalf of the Company in any such examinations and any resulting administrative or judicial proceedings, and shall have sole discretion to determine whether the Company (either on its own behalf or on behalf of the Members) will contest or continue to contest any tax deficiencies assessed or proposed to be assessed by any Taxing Authority.

11.8.3. BBA Elections. The Company shall not elect into the partnership audit procedures enacted under Section 1101 of the BBA (the "BBA Procedures") for any tax year beginning before January 1, 2018, and, to the extent permitted by applicable law and regulations, the Company will annually elect out of the BBA Procedures for tax years beginning on or after January 1, 2018 pursuant to Code Section

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6221(b) (as amended by the BBA). For any year in which applicable law and regulations do not permit the Company to elect out of the BBA Procedures, then within forty-five (45) days of any notice of final partnership adjustment, the Company will elect the alternative procedure under Code Section 6226, as amended by the BBA, and furnish to the Internal Revenue Service and each Member during the year or years to which the notice of final partnership adjustment relates a statement of the Member's share of any adjustment set forth in the notice of final partnership adjustment.

11.8.4. Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member's federal, state, foreign, or other income tax return with the treatment of the item on the Company's return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax, or interest imposed with respect to such taxes and taxes imposed pursuant to Code Section 6226 as amended by the BBA) shall be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member as provided in Section 8.5.5 above.

11.8.5. Income Tax Elections. Except as otherwise provided herein, the Tax Matters Member and Partnership Representative shall have sole discretion to make any determination regarding income tax elections it deems advisable on behalf of the Company; provided, that the Tax Matters Member or Partnership Representative will make an election under Code Section 754, if requested in writing by another Member.

11.9. Tax Returns. At the expense of the Company, the Manager (or any Officer that it may designate pursuant to Section 10.12 above) shall endeavor to cause the preparation and timely filing (including extensions) of all tax returns required to be filed by the Company pursuant to the Code, as well as all other required tax returns in each jurisdiction in which the Company owns property or does business. As soon as practical after the end of each Fiscal Year, the Manager or designated Officer will cause to be delivered to each Person who was a Member or Permitted Transferee at any time during such Fiscal Year, such written information as may be necessary for the preparation of such Person's federal, state and local income tax returns for such Fiscal Year. Within ninety (90) days after the end of each Fiscal Year, the Manager or designated Officer will cause to be delivered to each Person who was a Member or Permitted Transferee at any time during such Fiscal Year, IRS Schedule K-1 to Form 1065.

11.10. Banking. All funds of the Company shall be deposited in its name, or in such name as may be designated by the Manager, in such checking, savings, or other accounts, or held in its name in the form of such other investments as shall be designated by the Manager. The funds of the Company shall not be commingled with the funds of any other Person. All withdrawals of such deposits or liquidations of such investments by the Company shall be made exclusively on the signature or signatures of such Officer or Officers as the Manager may designate.

### ARTICLE 12

### TRANSFER OF MEMBERSHIP INTERESTS

12.1. Transfer. Each Member acknowledges that such Member may not sell, convey, mortgage, pledge, assign, hypothecate or otherwise dispose of ("Transfer"), in whole or in part, any interests or rights in such Member's Membership Interests, whether now owned or later acquired, except in accordance with this Article 12. Each Member hereby acknowledges the reasonableness of this prohibition in view of the purposes of the Company and relationship of the Members.

12.2. Transfer Void. Any attempted Transfer of a Member's Membership Interests in contravention of this Article 12 shall be deemed invalid, null and void, and of no force or effect, except any transfer mandated by operation of law and then only to the extent necessary to give effect to such transfer by operation of law.

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### 12.3. Right of First Refusal.

12.3.1. Notice of Intention to Sell. If a Member (the “*Selling Member*”) holding Preferred Units, Founder Units or Common Units desires to Transfer his/her/its Preferred Units (or applicable Unit Equivalents) (“*Offered Preferred Units*”) or Common Units (or Unit Equivalents) (“*Offered Common Units*”) or Founder Units (or Unit Equivalents) (“*Offered Units*”), or any part thereof, at any time, such Member shall first give written notice (“*Transfer Notice*”) to the Company and the other Members holding Preferred Units, Founder Units or Common Units (as applicable) of his/her/its intention to Transfer such Offered Units. Any such notice shall also be given following receipt by the Member desiring to Transfer his/her/its Offered Units or any portion thereof of a bona fide written offer for such Transfer, and shall specify the identity of the proposed Transferee, details regarding the number of Offered Units to be Transferred, the amount of the cash purchase price proposed to be paid for such Offered Units and all material terms of such transaction.

As used herein, the term “*Applicable ROFR Rightholders*” shall mean, in the case of a proposed Transfer of Preferred Units (or applicable Unit Equivalents), all Members (other than the Offering Member) holding Preferred Units (or applicable Unit Equivalents), and in the case of a proposed Transfer of Common Units (or applicable Unit Equivalents), all Members (other than the Offering Member) holding Common Units (or applicable Unit Equivalents), and in the case of a proposed Transfer of Founder Units (or applicable Unit Equivalents), all Members (other than the Offering Member) holding Founder Units (or applicable Unit Equivalents).

#### 12.3.2. Right of First Refusal.

(a) Any Transfer of Offered Units requiring the giving of written notice under Section 12.3.1 of this Agreement shall be subject to a right of first refusal on the part of the Company exercisable within twenty (20) business days (“*Company Exercise Period*”) of receipt of such Transfer Notice. During such period, the Company, subject to any restrictions imposed by law, shall have the right to elect to purchase all (and not less than all) (subject to the condition set forth below) of the Offered Units proposed to be sold by the Selling Member at a purchase price equal to the lesser of (i) the same terms as proposed by the proposed Transferee (including, without limitation, the cash purchase price proposed to be paid for the Subject Membership Interests by such Transferee), or, if such terms and conditions are not amenable to exact duplication, upon substantially equivalent terms and conditions or (ii) the Enterprise Value; provided, however, notwithstanding the foregoing, the Company shall have the right to exercise its right of first refusal and pay the purchase price with twenty percent (20%) in cash and the balance of the purchase price over sixty (60) equal monthly installments pursuant to a promissory note bearing interest at a rate of three percent (3%) per annum. If the Company does not elect to purchase, or is prohibited from purchasing under the Act, all of the Offered Units within such twenty (20) business day period, then such right of first refusal shall pass to the Applicable ROFR Rightholders in accordance with Section 12.3.2(b) below with respect to the Offered Units.

(b) If the right of first refusal shall pass to the Applicable ROFR Rightholders as provided in Section 12.3.2(a) above, such Applicable ROFR Rightholders shall have the right to purchase at the purchase price and on the terms and conditions specified in the Transfer Notice, all of the Offered Units offered by the Selling Member by giving notice of acceptance to the Selling Member within ten (10) business days of the earlier of the expiration of the Company Exercise Period or the Applicable ROFR Rightholders’ receipt of notice that the Company has not elected to purchase all of the Offered Units (“*Member Exercise Period*”). The remaining Members shall have the right to purchase all of the Offered Units on the same terms as the Company could have purchased the Offered Units; provided, however, that the remaining Members must purchase in the aggregate all of the Offered Units offered by the Selling Member. If the operation of the foregoing provisions of this Section 12.3.2(b) does not result in the purchase of all of the Offered Units offered by the Selling Member, then the Selling Member may sell all of the Offered Units to the proposed Transferee at the price and on the terms and conditions set forth in the

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Transfer Notice during a period of forty-five (45) business days immediately following the expiration of the Member Exercise Period. If the sale of such Offered Units is not completed within such forty-five (45) business day period or if the price or terms or conditions of sale are materially modified from those contained in the Transfer Notice, then the procedures specified in this Section 12.3 shall be repeated.

12.3.3. No Membership Rights Transferred. If the conditions of Transfer set forth in Section 12.3.2 above are satisfied, the Selling Member may Transfer all or any portion of the Member's Transferable Interests to the proposed Transferee at a price per Offered Unit not less than specified in the Transfer Notice and on other terms and conditions which are not materially more favorable in the aggregate to the proposed purchaser than those specified in the Transfer Notice, but only to the extent that such Transfer occurs within ninety (90) days after expiration of the Member Exercise Period. Any Offered Units not Transferred within such ninety (90) day period will be subject to the procedures specified in this Section 12.3. If the Selling Member Transfers all or any portion of the Member's Transferable Interests to a non-Member pursuant to this Section 12.3, the Transferee shall not receive any of the transferor's Membership Rights, if any. Additionally, the non-Member Transferee shall have no right to: (i) become a Member without the approval of the Manager; (ii) exercise any Membership Rights other than those specifically pertaining to the ownership of the Transferable Interests; or (iii) act as an agent of the Company. Furthermore, the proportionate share of the Membership Rights, which would have been transferred if such Transferable Interests were transferred to a Member, shall be distributed to the remaining Members and the Selling Member shall have no further Membership Rights associated with the Transferable Interests transferred.

### 12.4. Death or Incapacity of Member.

12.4.1. As used herein, the term "Applicable Rightholders" shall mean: in the case of Preferred Units (or applicable Unit Equivalents), all Members (other than the Member holding the subject Units) holding Preferred Units (or applicable Unit Equivalents); in the case of Common Units (or applicable Unit Equivalents), all Members (other than the Member holding the subject Units) holding Common Units (or applicable Unit Equivalents); in the case of Founder Units (or applicable Unit Equivalents), all Members (other than the Member holding the subject Units) holding Founder Units; and in the case of Profit Participation Units (or applicable Unit Equivalents), all Members. Upon the death or incapacity of a Member, such Member's Units shall be deemed offered to the Applicable Rightholders pro rata at the Enterprise Value set forth in Section 12.7 below. In the event an Applicable Rightholder does not accept such Member's pro rata portion of such offer, such Member's portion of the Membership Interests shall be offered to the other remaining Applicable Rightholders. In the event that any Membership Interests shall remain unallocated, such Membership Interests shall be offered to the Company.

12.4.2. In the event that any Membership Interests shall yet remain unallocated after the procedures set forth in Section 12.4.1 above are followed, the subject Membership Interests may be offered to a third party upon the terms and conditions set forth in this Agreement, or they may be distributed pursuant to the laws of descent or by trust to the heirs of the deceased or incapacitated Member. In either case, the Transferee shall succeed to the Member's Transferable Interest, with all of the rights associated with the Member's Transferable Interest; however, the Transferee shall not become a Member and shall not have the right to: (i) become a Member; (ii) exercise any Membership Rights; or (iii) act as an agent of the Company. Instead, the deceased or incapacitated Member's Membership Rights, which would have been transferred if such Membership Interests were transferred to a Member, shall be distributed to the remaining Members in proportion to their Membership Interests.

12.5. Marital Dissolution. If, in connection with the divorce or dissolution of the marriage of a Member, any court issues a decree or order that transfers, confirms, or awards a Membership Interest, or any portion thereof, to that Member's spouse (an "Award"), then, notwithstanding that such transfer would constitute an unpermitted Transfer under this Agreement, that Member shall have the right to purchase from his or her former spouse the Membership Interest, or portion thereof, that was so transferred, and such

21

former spouse shall sell the Membership Interest or portion thereof to that Member, at the Enterprise Value set forth in Section 12.7 below. If the Member fails to consummate the purchase within one hundred eighty (180) days after the court Award (the “*Expiration Date*”), the Company and the Applicable Rightholders shall have the option to purchase from the former spouse the Membership Interest or portion thereof under Section 12.3.2 above; provided that the option period shall commence on the later of (1) the day following the Expiration Date, or (2) the date of actual notice of the Award. In the event such Membership Interest is not purchased pursuant to this Section 12.5, the former spouse shall be treated as a Transferee, having all of the rights associated with the Member’s Transferable Interest, but shall not become a Member and shall not have the right to: (i) become a Member without the approval of the Manager; (ii) exercise any Membership Rights; or (iii) act as an agent of the Company.

12.6. Transfer of Interests for Estate Planning. Notwithstanding the restrictions on transfer of Membership Interests provided in this Article 12, a Member may Transfer his/her/its Transferable Interests to any revocable trust created for the benefit of the Member, or any combination between or among the Member, the Member’s spouse or domestic partner and the Member’s issue, provided that the Member retains a beneficial interest in the trust and all of the voting interest, if any, included in the Membership Interest. A Transfer of a Member’s beneficial interest in the trust, or failure to retain such voting interest, shall be deemed a Transfer of Membership Interest restricted by this Article 12.

#### 12.7. Enterprise Value.

12.7.1. Valuation by Agreement. The value of the subject Units based on the Company’s value on a going concern basis (the “*Enterprise Value*”) may be established by agreement between the Members holding a majority of the Common Units from time to time.

12.7.2. Appraisal. If there has been no agreement as to value as provided in Section 12.7.1 above within twelve (12) months of an event requiring an agreement on value, the Company and the Member whose Membership Interests are to be purchased, or such Member’s successor, shall agree upon a value, or if a value cannot be agreed upon within thirty (30) days of an event requiring an agreement on value, shall either agree upon a single appraiser to determine the value or each appoint an appraiser to determine the value. If the two (2) appraisers agree upon such value, they shall jointly render a single written report stating that value. If the two (2) appraisers cannot agree upon the value, they shall each render a separate written report and shall appoint a third appraiser, who shall appraise the Company, determine its value, and render a written report of his or her opinion. Each party shall share equally the fees if a single appraiser is agreed upon, shall pay the fees and other costs of the appraiser appointed by such party if two (2) appraisers are required, and the fees and other costs of the third appraiser shall be shared equally by both parties. The appraiser(s) must apply marketability and minority discounts in considering value.

The value contained in the aforesaid appraiser’s written report, the joint written report or the written report of the third appraiser, as the case may be, shall be the Enterprise Value; provided, however, that if the value of the equity contained in the appraisal report of the third appraiser is more than the higher of the first two (2) appraisals, the higher of the first two (2) appraisals shall govern; and provided, further, that if the value of the equity contained in the appraisal report of the third appraiser is less than the lower of the first two (2) appraisals, the lower of the first two (2) appraisals shall govern.

#### 12.8. Drag-along Rights.

12.8.1. Participation. If one or more Members (together with their respective Permitted Transferees) holding no less than a majority of all the Common Units (such Member or Members, the “*Dragging Member*”), proposes to consummate, in one transaction or a series of related transactions, a Change of Control (a “*Drag-along Sale*”), the Dragging Member shall have the right, after delivering the Drag-along Notice in accordance with Section 12.8.3 below and subject to compliance with Section 12.8.4

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below, to require that each other Member (each, a “*Drag-along Member*”) participate in such sale (including, if necessary, by converting their Unit Equivalents into the Units to be sold in the Drag-along Sale) in the manner set forth in Section 12.8.2 below.

# 12.8.2. Sale of Units. Subject to compliance with Section 12.8.4 below.

(a) If the Drag-along Sale is structured as a sale resulting in a majority of the Common Units of the Company on a Fully Diluted Basis being held by a Third Party Purchaser, then each Drag-along Member shall sell, with respect to each class or series of Units proposed by the Dragging Member to be included in the Drag-along Sale, the number of Units or Unit Equivalents of such class or series (with Common Units and Profits Participation Units treated as one class for this purpose) equal to the product obtained by multiplying (i) the number of applicable Units on a Fully Diluted Basis held by such Drag-along Member (with Common Units and Profits Participation Units treated as one class) by (ii) a fraction (x) the numerator of which is equal to the number of applicable Units on a Fully Diluted Basis that the Dragging Member proposes to sell in the Drag-along Sale (with Common Units and Profits Participation Units treated as one class) and (y) the denominator of which is equal to the number of applicable Units on a Fully Diluted Basis held by the Dragging Member at such time (with Common Units and Profits Participation Units treated as one class); and

(b) If the Drag-along Sale is structured as a sale of all or substantially all of the consolidated assets of the Company or as a merger, consolidation, recapitalization or reorganization of the Company or other transaction requiring the consent or approval of the Members, then notwithstanding anything to the contrary in this Agreement (including Section 5.1 above), each Drag-along Member shall vote in favor of the transaction and otherwise consent to and raise no objection to such transaction, and shall take all actions to waive any dissenters’, appraisal or other similar rights that it may have in connection with such transaction. The Distribution of the aggregate consideration of such transaction shall be made in accordance with Section 13.4 below.

12.8.3. Sale Notice. The Dragging Member shall exercise its rights pursuant to this Section 12.8 by delivering a written notice (the “*Drag-along Notice*”) to the Company and each Drag-along Member no more than ten (10) business days after the execution and delivery by all of the parties thereto of the definitive agreement entered into with respect to the Drag-along Sale and, in any event, no later than twenty (20) business days prior to the closing date of such Drag-along Sale. The Drag-along Notice shall make reference to the Dragging Members’ rights and obligations hereunder and shall describe in reasonable detail:

(a) The name of the person or entity to whom such Units are proposed to be sold;

(b) The proposed date, time and location of the closing of the sale;

(c) The number of each class or series of Units to be sold by the Dragging Member, the proposed amount of consideration for the Drag-along Sale and the other material terms and conditions of the Drag-along Sale, including a description of any non-cash consideration in sufficient detail to permit the valuation thereof and including, if available, the purchase price per Unit of each applicable class or series (which may take into account the Profits Interest Hurdle of any Profit Participation Units to be sold); and

(d) A copy of any form of agreement proposed to be executed in connection therewith.

12.8.4. Conditions of Sale. The obligations of the Drag-along Members in respect of a Drag-along Sale under this Section 12.8 are subject to the satisfaction of the following conditions:

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(a) The consideration to be received by each Drag-along Member shall be the same form and amount of consideration to be received by the Dragging Member per Unit of each applicable class or series (the Distribution of which shall be made in accordance with Section 12.8.2 above) and the terms and conditions of such sale shall, except as otherwise provided in Section 12.8.4(c) below be the same as those upon which the Dragging Member sells its Units;

(b) If the Dragging Member or any Drag-along Member is given an option as to the form and amount of consideration to be received, the same option shall be given to all Drag-along Members; and

(c) Each Drag-along Member shall execute the applicable purchase agreement, if applicable, and make or provide the same representations, warranties, covenants, indemnities and agreements as the Dragging Member makes or provides in connection with the Drag-along Sale; provided, that each Drag-along Member shall only be obligated to make individual representations and warranties with respect to its title to and ownership of the applicable Units, authorization, execution and delivery of relevant documents, enforceability of such documents against the Drag-along Member, and other matters relating to such Drag-along Member, but not with respect to any of the foregoing with respect to any other Members or their Units; provided, further, that all representations, warranties, covenants and indemnities shall be made by the Dragging Member and each Drag-along Member severally and not jointly and any indemnification obligation shall be pro rata based on the consideration received by the Dragging Member and each Drag-along Member, in each case in an amount not to exceed the aggregate proceeds received by the Dragging Member and each such Drag-along Member in connection with the Drag-along Sale.

12.8.5. Cooperation. Each Drag-along Member shall take all actions as may be reasonably necessary to consummate the Drag-along Sale, including, without limitation, entering into agreements and delivering certificates and instruments, in each case, consistent with the agreements being entered into and the certificates being delivered by the Dragging Member, but subject to Section 12.8.4(c) above.

12.8.6. Expenses. The fees and expenses of the Dragging Member incurred in connection with a Drag-along Sale and for the benefit of all Drag-along Members (it being understood that costs incurred by or on behalf of a Dragging Member for its sole benefit will not be considered to be for the benefit of all Drag-along Members), to the extent not paid or reimbursed by the Company or the Third Party Purchaser, shall be shared by the Dragging Member and all the Drag-along Members on a pro rata basis, based on the consideration received by each such Member; provided, that no Drag-along Member shall be obligated to make any out-of-pocket expenditure prior to the consummation of the Drag-along Sale.

12.8.7. Consummation of Sale. The Dragging Member shall have one hundred and eighty (180) days following the date of the Drag-along Notice in which to consummate the Drag-along Sale, on the terms set forth in the Drag-along Notice. If at the end of such period the Dragging Member has not completed the Drag-along Sale, the Dragging Member may not then exercise its rights under this Section 12.8 without again fully complying with the provisions of this Section 12.8.

### 12.9. Tag-Along Rights.

12.9.1. Participation. Subject to the terms and conditions specified in Sections 12.1, 12.2 and 12.3, if any Member (the "Selling Member") proposes to Transfer any of its Preferred Units and/or Common Units (or any Unit Equivalents of such Units) to any Person (a "Proposed Transferee"), each other Member (each, a "Tag-along Member") shall be permitted to participate in such sale (a "Tag-along Sale") on the terms and conditions set forth in this Section 12.9

12.9.2. Application of Transfer Restrictions. The provisions of this Section 12.9 shall only apply to Transfers in which:

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(a) The Company and Applicable ROFR Rightholders have not exercised their rights in full under Section 12.3 above to purchase all of the Offered Units; and

(b) The Dragging Member has elected to not exercise its drag-along right under Section 12.8 above.

12.9.3. Sale Notice. Prior to the consummation of any Transfer of Preferred Units, Founder Units or Common Units (or any Unit Equivalents of such Units) qualifying under Section 12.9.2 above, and after satisfying its obligations pursuant to Section 12.3 above, the Selling Member shall deliver to the Company and each other Member holding Units (or any Unit Equivalents of such Units) of the class or series proposed to be Transferred a written notice (a “*Sale Notice*”) of the proposed Tag-along Sale as soon as practicable following the expiration of the Member Exercise Period, and in no event later than five (5) business days thereafter. The Sale Notice shall make reference to the Tag-along Members’ rights hereunder and shall describe in reasonable detail:

(a) The aggregate number of Common Units, Founder Units or Preferred Units (or any Unit Equivalents of such Units) the Proposed Transferee has offered to purchase;

(b) The identity of the Proposed Transferee;

(c) The proposed date, time and location of the closing of the Tag-along Sale;

(d) The purchase price per applicable Unit (which shall be payable solely in cash) and the other material terms and conditions of the Transfer; and

(e) A copy of any form of agreement proposed to be executed in connection therewith.

#### 12.9.4. Exercise of Tag-along Right.

(a) The Selling Member and each Tag-along Member timely electing to participate in the Tag-along Sale pursuant to Section 12.9.4(b) below shall have the right to Transfer in the Tag-along Sale the number of Common Units, Founder Units or Preferred Units (and applicable Unit Equivalents, if any), as the case may be and with the Common Units, Founder Units and Preferred Units treated as separate classes for purposes of this calculation, equal to the product of (x) the aggregate number of Common Units, Founder Units or Preferred Units (and applicable Unit Equivalents), as the case may be, that the Proposed Transferee proposes to buy as stated in the Sale Notice and (y) a fraction (A) the numerator of which is equal to the number of Common Units, Founder Units or Preferred Units, as the case may be, on a Fully Diluted Basis then held by the applicable Member, and (B) the denominator of which is equal to the number of Common Units, Founder Units or Preferred Units, as the case may be, on a Fully Diluted Basis then held by the Selling Member and all of the Tag-along Members timely electing to participate in the Tag-along Sale pursuant to Section 12.9.4(b) below (such amount with respect to the Common Units (and applicable Unit Equivalents, if any), the “*Common Tag-along Portion*”, and with respect to the Preferred Units (and applicable Unit Equivalents, if any), the “*Preferred Tag-along Portion*” and with respect to the Founder Units (and applicable Unit Equivalents, if any), the “*Founder Tag-along Portion*”).

(b) Each Tag-along Member shall exercise its right to participate in a Tag-along Sale by delivering to the Selling Member a written notice (a “*Tag-along Notice*”) stating its election to do so and specifying the number of Common Units or Unit Equivalents (up to its Common Tag-along Portion), Founder Units or Unit Equivalents (up to its Founder Tag-along Portion) or Preferred Units or Unit Equivalents (up to its Preferred Tag-along Portion), as the case may be, to be Transferred by it no later than ten (10) business days after receipt of the Sale Notice (the “*Tag-along Period*”).

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(c) The offer of each Tag-along Member set forth in a Tag-along Notice shall be irrevocable, and, to the extent such offer is accepted, such Tag-along Member shall be bound and obligated to consummate the Transfer on the terms and conditions set forth in this Section 12.9.

12.9.5. Waiver. Each Tag-along Member who does not deliver a Tag-along Notice in compliance with Section 12.9.4(b) above shall be deemed to have waived all of such Tag-along Member's rights to participate in the Tag-along Sale with respect to the Common Units, Founder Units or Preferred Units (or Unit Equivalents) owned by such Tag-along Member, and the Selling Member shall (subject to the rights of any other participating Tag-along Member) thereafter be free to sell to the Proposed Transferee the Units or Unit Equivalents identified in the Sale Notice at a per Unit price that is no greater than the applicable per Unit price set forth in the Sale Notice and on other terms and conditions which are not materially more favorable to the Selling Member than those set forth in the Sale Notice, without any further obligation to the non-accepting Tag-along Members.

# 12.9.6. Conditions of Sale.

(a) Each Member participating in the Tag-along Sale shall receive the same consideration per Common Unit, Founder Unit or Preferred Unit, as the case may be, after deduction of such Member's proportionate share of the related expenses in accordance with Section 12.9.8 below.

(b) Each Tag-along Member shall make or provide the same representations, warranties, covenants, indemnities and agreements as the Selling Member makes or provides in connection with the Tag-along Sale; provided, that each Tag-along Member shall only be obligated to make individual representations and warranties with respect to its title to and ownership of the applicable Units, authorization, execution and delivery of relevant documents, enforceability of such documents against the Tag-along Member, and other matters relating to such Tag-along Member, but not with respect to any of the foregoing with respect to any other Members or their Units; provided, further, that all representations, warranties, covenants and indemnities shall be made by the Selling Member and each Tag-along Member severally and not jointly and any indemnification obligation shall be pro rata based on the consideration received by the Selling Member and each Tag-along Member, in each case in an amount not to exceed the aggregate proceeds received by the Selling Member and each such Tag-along Member in connection with the Tag-along Sale.

(c) Each holder of then currently exercisable Unit Equivalents with respect to a class or series of Units proposed to be Transferred in a Tag-along Sale shall be given an opportunity to convert such Unit Equivalents into the applicable class or series of Units prior to the consummation of the Tag-along Sale and participate in such sale as holders of such class or series of Units.

12.9.7. Cooperation. Each Tag-along Member shall take all actions as may be reasonably necessary to consummate the Tag-along Sale, including, without limitation, entering into agreements and delivering certificates and instruments, in each case, consistent with the agreements being entered into and the certificates being delivered by the Selling Member, but subject to Section 12.9.6(b) above.

12.9.8. Expenses. The fees and expenses of the Selling Member incurred in connection with a Tag-along Sale and for the benefit of all Tag-along Members (it being understood that costs incurred by or on behalf of a Selling Member for its sole benefit will not be considered to be for the benefit of all Tag-along Members), to the extent not paid or reimbursed by the Company or the Proposed Transferee, shall be shared by the Selling Member and all the participating Tag-along Members on a pro rata basis, based on the consideration received by each such Member; provided, that no Tag-along Member shall be obligated to make any out-of-pocket expenditure prior to the consummation of the Tag-along Sale.

12.9.9. Consummation of Sale. The Selling Member shall have sixty (60) days following the expiration of the Tag-along Period in which to consummate the Tag-along Sale, on terms not more

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favorable to the Selling Member than those set forth in the Tag-along Notice. If at the end of such period the Selling Member has not completed the Tag-along Sale, the Selling Member may not then effect a Transfer that is subject to this Section 12.9 without again fully complying with the provisions of this Section 12.9.

12.9.10. Transfers in Violation of the Tag-along Right. If the Selling Member sells or otherwise Transfers to the Proposed Transferee any of its Units in breach of this Section 12.9, then each Tag-along Member shall have the right to sell to the Selling Member, and the Selling Member undertakes to purchase from each Tag-along Member, the number of Units of each applicable class or series that such Tag-along Member would have had the right to sell to the Proposed Transferee pursuant to this Section 12.9, for a per Unit amount and form of consideration and upon the terms and conditions on which the Proposed Transferee bought such Units from the Selling Member, but without indemnity being granted by any Tag-along Member to the Selling Member; provided, that nothing contained in this Section 12.9.10 shall preclude any Member from seeking alternative remedies against such Selling Member as a result of its breach of this Section 12.9. The Selling Member shall also reimburse each Tag-along Member for any and all reasonable and documented out-of-pocket fees and expenses, including reasonable legal fees and expenses, incurred pursuant to the exercise or the attempted exercise of the Tag-along Member's rights under this Section 12.9.10.

### ARTICLE 13
DISSOLUTION, LIQUIDATION AND TERMINATION OF THE COMPANY

13.1. Limitations. The Company may be dissolved, liquidated and terminated pursuant only to the provisions of this Section 13.1. The Members waive all their other rights to cause the dissolution of the Company or the sale or partition of any of its assets.

13.2. Cause of Dissolution. The first to occur of the following events shall cause the Company to be dissolved:

13.2.1. An election to dissolve the Company made by holders of a majority of the Common Units and Founder Units;

13.2.2. The election of the Manager to dissolve or terminate the Company;

13.2.3. The sale or other disposition of substantially all of the Company's assets and the receipt in cash of the proceeds thereof;

13.2.4. At the end of the term of this Agreement, as set forth in Section 2.6 above; or

13.2.5. The date on which the Company is dissolved by operation of law or decree of judicial dissolution entered pursuant to the Act.

13.3. Authority to Wind Up. The Manager has all necessary power required to marshal the assets of the Company, to pay its creditors, to distribute assets and otherwise wind up the business and affairs of the Company. The Manager has the power to continue to conduct the business and affairs of the Company during the period of liquidation of the Company consistent, in the Manager's judgment, with the orderly winding up of the Company.

13.4. Liquidation of the Company. Upon dissolution of the Company: (a) the Company shall be wound up and liquidated and shall not engage in any activity except that is necessary to wind up its business; (b) the noncash assets shall be liquidated; and (c) the remaining assets shall be distributed as expeditiously as possible.

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13.4.1. Cash Distributions and Net Profit and Net Loss Allocations. During the winding up and liquidation period, the Members shall continue to receive Distributions and to share in Net Profit and Net Loss for tax purposes as provided in this Agreement. If the Company is liquidated within the meaning of Section 1.704-1(b)(2)(ii)(g) of the Regulations, liquidating Distributions shall be made in compliance with Section 1.704-1(b)(2)(ii)(b)(2) of the Regulations.

13.4.2. Distributions. Every Company asset shall be either distributed in kind or sold, as determined by the Manager. Subject to Section 17707.01 et seq. of the Act, the assets shall be distributed according to the following priority:

(a) Expenses. First, to pay all expenses of winding up, liquidating, and terminating the Company, second, to pay off all Company obligations to third party creditors;

(b) Reserves. Then, to establish any reserves which the Manager deems necessary for contingent or unforeseen obligations of the Company, which reserves will be distributed when they are, in the Manager's judgment, no longer needed;

(c) Outstanding Loans to Members. Then, to repay outstanding loans to Members. If there are insufficient funds to pay those loans in full, each Member shall be repaid in proportion to the ratio that the Member's loan, together, with accrued and unpaid interest, bears to the total of all loans from Members, including all accrued and unpaid interest. Repayment shall first be credited to unpaid principal and the remainder shall be credited to accrued and unpaid interest; and

(d) Liquidating Distributions. Thereafter, liquidating Distributions shall be made to the Members in the same manner as Distributions are made under Section 8.1 above. If any Member's interests in the Company is "liquidated" within the meaning of Section 1.761-1(d) of the Regulations, liquidating Distributions, if any, shall be made to such Member in the same amounts and at such times as would have been made to such Member, in accordance with the foregoing provision of this Section, if the Company itself were being "liquidated."

13.4.3. Filing Certificate of Dissolution. Upon dissolution and liquidation of the Company, the Manager shall cause the execution and filing of a Certificate of Dissolution and/or Certificate of Cancellation with the California Secretary of State in accordance with Section 17707.08 of the Act.

13.4.4. Recourse for Claims. Each Member shall look solely to the assets of the Company for all Distributions with respect to the Company, such Member's Capital Account, and such Member's share of Net Income, Net Loss and other items of income, gain, loss and deduction, and shall have no recourse therefor (upon dissolution or otherwise) against the Manager, the Liquidator or any other Member.

### ARTICLE 14
CONSENT TO REPRESENTATION BY COMPANY COUNSEL

The Members each acknowledge that Varner & Brandt LLP ("Counsel") drafted this Agreement as counsel to the Company, and not as counsel to any individual Member. Each Member acknowledges that it is hereby:

14.1. Receiving from Counsel a disclosure that a conflict of interest may arise if Counsel were to represent any or all of the Members in addition to the Company, and therefore has not acted as counsel to any Member when drafting this Agreement;

14.2. Advised by Counsel that his or its interests in the Agreement may conflict with those of the other Members and with the Company;

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14.3. Advised by Counsel that this Agreement will have tax consequences;

14.4. Advised by Counsel to seek independent counsel regarding this Agreement and its tax consequences, and each Member has either done so, or has elected to waive its right to do so at this time;

14.5. Aware that if a conflict between the parties hereto concerning this Agreement arises in the future, Counsel may be required to withdraw from representing some or all of the parties; and

14.6. Knowingly consents to the representation of the Company by Counsel under these circumstances and has sought independent and further legal counsel to the extent he, she or it deemed necessary.

## ARTICLE 15
MISCELLANEOUS

15.1. Spousal Consent. Concurrently with the execution of this Agreement, each married Member's spouse will execute a spousal consent in substantially the form attached to this Agreement as Exhibit A, and each Member agrees that all future spouses of that Member will execute this form on or before marriage.

15.2. Amendment. No provision of this Agreement may be amended or modified except by an instrument in writing executed by the Company and Members holding a majority of the Common Units. Any such written amendment or modification will be binding upon the Company and each Member; provided, that an amendment or modification modifying the rights or obligations of any Member in a manner that is disproportionately adverse to (i) such Member relative to the rights of other Members in respect of Units of the same class or series or (ii) a class or series of Units relative to the rights of another class or series of Units, shall in each case be effective only with that Member's consent or the consent of the Members holding a majority of the Units in that class or series, as applicable. Notwithstanding the foregoing, amendments to the Members' Schedule following any new issuance, redemption, repurchase or Transfer of Units in accordance with this Agreement may be made by the Manager without the consent of or execution by the Members.

15.3. Authority. Each individual signatory hereto represents and warrants that he or she is duly authorized to execute this document and is personally bound, or if executing on behalf of another, is authorized to do so and that the other is bound.

15.4. Consents. Whenever a Member is asked to provide consent, such consent will only be deemed enforceable if delivered in writing.

15.5. Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be an original and all of which together shall constitute one agreement.

15.6. Schedule, Exhibit and Appendix. Schedule A, Exhibit A, and Appendix 1 are attached and incorporated herein by this reference.

15.7. Interpretation. The provisions hereof shall be interpreted to give effect to their fair meaning and shall be construed as though prepared by each of the Members. The entire agreement of the Members is set forth herein, and all prior negotiations, documents and discussions are superseded. The Members acknowledge there are no applicable representations, warranties or terms which are not stated herein. The invalidity of any provision shall not affect the validity of any other provision. Section headings are for convenience only and may not be used in interpretations. All interpretations are to be made in accordance with California law.

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15.8. Notices. All notices required or allowed shall be in writing and shall be sent to the addresses shown on Schedule A. A Member may change his/her address for notice by giving notice to the other Members. Notice may be delivered by personal delivery, electronic mail, facsimile transmission during normal business hours of the recipient, an overnight delivery service, or U.S. Mail sent certified with return receipt requested. Notices are effective on the earlier of the date received, the date of the delivery receipt or the third day after postmark, as applicable.

15.9. References. All references to this Agreement include references to all its amendments. References to a Member include, bind and inure to the benefit of that Member's officers, agents, employees, successors in interest and assignees. Reference to days means consecutive calendar days including weekends and holidays.

15.10. Third-Party Rights. This Agreement is intended to create enforceable rights between the Members only, and creates no rights in, or obligations to, any other Persons whatsoever. Without limiting the generality of the foregoing, as to any third party, a deficit Capital Account of a Member shall not be deemed a liability of such Member nor an asset or property of the Company, except as otherwise provided in Section 6.3.3 above. None of the provisions of this Agreement shall be for the benefit of or enforceable by any third-party creditors of the Company.

15.11. Time. Time is of the essence of all provisions hereof where time is a factor.

15.12. Venue. The venue and jurisdiction for any disputes arising from this Agreement shall be Los Angeles County, California.

15.13. Waiver. No right or remedy will be waived unless the waiver is in writing and signed by the party claimed to have made the waiver. One waiver will not be interpreted as a continuing waiver.

15.14. Equitable Remedies. Each party hereto acknowledges that a breach or threatened breach by such party of any of its obligations under this Agreement would give rise to irreparable harm to the other parties, for which monetary damages would not be an adequate remedy, and hereby agrees that in the event of a breach or a threatened breach by such party of any such obligations, each of the other parties hereto shall, in addition to any and all other rights and remedies that may be available to them in respect of such breach, be entitled to equitable relief, including a temporary restraining order, an injunction, specific performance, and any other relief that may be available from a court of competent jurisdiction (without any requirement to post bond).

15.15. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email, or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

[Signature Page Follows]

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IN WITNESS WHEREOF, the parties hereto have entered into this Agreement as of the date first written above.

INITIAL MEMBERS:

Krishan Sharma

John Devine

Stephanie Sills

Michael Alden

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# **SCHEDULE A**

# **MEMBERS, CAPITAL CONTRIBUTIONS AND UNITS**

| ISSUED AND OUTSTANDING |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| MEMBER NAME AND ADDRESS | CAPITAL CONTRIBUTION | FOUNDER UNITS | COMMON UNITS | PREFERRED UNITS | PROFITS PARTICIPATION UNITS | VOTING RIGHTS (%) | RIGHTS TO PROFITS (%) |
| Krishan Sharma |  |  | 1,000,000 | 0 | 0 | 74.10% | Current 65.50% |
|  |  |  |  |  |  |  | Fully Diluted Basis 62.96% |
| John Devine |  | 31,766 | 0 | 0 | 0 | 2.35% | 2.00% |

| OUTSTANDING AND UNEXERCISED OPTIONS |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- |
| MEMBER NAME AND ADDRESS | CAPITAL CONTRIBUTION | FOUNDER UNITS | COMMON UNITS | PREFERRED UNITS | PROFITS PARTICIPATION UNITS | VOTING RIGHTS (% Fully Diluted Basis) | RIGHTS TO PROFITS (% Fully Diluted Basis) |
| Stephanie Sills |  |  | 79,416 | 0 | 0 | 5.90% | 5.0% |
| Michael Alden |  |  | 238,247 | 0 | 0 | 17.65% | 15.0% |
| Jeff Gore |  |  | 0 | 0 | 23,825 | 0 | 1.5% |
| Don Was |  |  | 0 | 0 | 4,295 | 0 | 0.27% |
|  |  |  |  |  | 10,000 (unvested) |  | 0.63% |

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| Babak Farrokh-Siar |  |  | 0 | 0 | 31,766 | 0 | 2.0% |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Matthew Emiwien |  |  | 0 | 0 | 3,971 | 0 | 0.25% |
| Brennan Van Derleen |  |  | 0 | 0 | 2,224 | 0 | 0.14% |
| Steve Curd |  |  |  | 0 | 3,971 | 0 | 0.25% |
| Brendan Shepard |  |  |  |  | 39,708 | 0 | 2.5% |
|  |  |  |  |  | 39,708 (unvested) | 0 | 2.5% |
| Thomas Grill |  |  |  |  | 31,766 | 0 | 2.0% |
| Kelley Dooley |  |  |  |  | 3,971 | 0 | 0.25% |
|  |  |  |  |  | 3,971 (unvested) | 0 | 0.25% |
| Matthew Stodder |  |  |  |  | 7,942 | 0 | 0.50% |
| Remaining Balance |  |  |  |  | 7,942 (unallocated) | 0 | 2.0% |
| Total |  | 31,766 | 1,317,663 |  | 238,882 | 100% | 100% |

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# **EXHIBIT A**

# **CONSENT OF SPOUSE**

The undersigned is the spouse of ________________, who is a party to the attached Operating Agreement of **BygMusic LLC** (“*Agreement*”). The undersigned acknowledges that he/she has read the Agreement that he/she has been advised to consult independent counsel, and has done so to the extent that he/she deemed necessary, and that he/she understands the Agreement’s terms and effect. The undersigned is aware that, by the provisions of the Agreement, he/she and his/her spouse have agreed to sell or transfer their interest in **BygMusic LLC** (“*Company*”), including any community property interest, in accordance with the terms and provisions of the Agreement. The undersigned expressly approves of and agrees to be bound by the provisions of the Agreement in its entirety, including, but not limited to, those provisions relating to the sales and transfers of the interest in the Company. If the undersigned predeceases his/her spouse when his/her spouse owns an interest in the Company, he/she hereby agrees not to devise or bequeath whatever community property interest he/she may have in the Company in contravention of the Agreement. In consideration for the benefits flowing to him/her from the Agreement, the undersigned consents and agrees to its execution by his/her spouse and to its terms as if she were a party thereto.

Effective: ________________, 2019

By: ________________________

Name: ________________________

Spouse of: ________________________

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# APPENDIX 1

# DEFINITIONS

REFERENCES TO "SECTIONS" OR "PARAGRAPHS" CONTAINED IN THIS APPENDIX, UNLESS OTHERWISE IDENTIFIED, ARE REFERENCES TO THE SECTIONS OR PARAGRAPHS OF THE OPERATING AGREEMENT OF BYGMUSIC, LLC, OF WHICH THIS APPENDIX IS A PART.

1. Act. California Revised Uniform Limited Liability Company Act as codified in California Corporations Code Section §§17701.01 - 17713.13, including any amendments from time to time.
2. Additional Member. A Member admitted as a Member after the date of this Agreement.
3. Agreement. Means this Operating Agreement, as executed and as it may be amended, modified, supplemented or restated from time to time, as provided herein.
4. Adjusted Capital Contribution. A Member's Capital Contributions, adjusted as follows:

(a) Increased by the amount of any Company liabilities which, in connection with Distributions made to a Member, are assumed by such Member or are secured by any Company property distributed to such Member; and

(b) Reduced by (i) the amount of Distributions and the Book Value of any Company property distributed to such Member, excluding any preferred return, and (ii) the amount of any liabilities of such Member assumed by the Company or which are secured by any property contributed by such Member to the Company. If any Member Transfers all or any portion of his/her/its Membership Interests in accordance with the terms of this Agreement, his/her/its transferee shall succeed to the Adjusted Capital Contribution of the transferor to the extent it relates to the transferred Membership Interests.

5. Available Cash. Means all net revenues from the Company's operations, including net proceeds from all sales, refinancing and other dispositions of the Company property that the Manager, in its sole discretion, deem in excess of the amount reasonably necessary for the operating requirements to the Company, including debt reduction and reserves deemed reasonably necessary to meet accrued or contingent liabilities of the Company, reasonably anticipated operating expenses and working capital requirements.

6. Bankruptcy. Means that a petition is filed by or against a Person as "debtor" and the adjudication of such Person as bankrupt under the provisions of the bankruptcy laws of the United States of America has commenced, or that such Person made an assignment for the benefit of its creditors generally or a receiver is appointed for substantially all of the property and assets of such Person, as defined in the Act.

7. Book Value. An asset's adjusted basis for federal income tax purposes, except as follows:

(a) The initial Book Value of any asset contributed by a Member to the Company shall be the gross fair market value of such asset as of the date of contribution, as reasonably determined by the contributing Member and the Manager;

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(b) The Book Value of all Company assets shall be adjusted to equal their respective gross fair market values, as determined by the Manager, as of the following times, provided, that adjustments pursuant to clauses (i), (ii) and (iii) need not be made if the Manager reasonably determines that such adjustment is not necessary or appropriate to reflect the relative economic interests of the Members and that the absence of such adjustment does not adversely and disproportionately affect any Member: (i) the acquisition of an additional interest in the Company by any new or existing Member in exchange for more than a de minimis Capital Contribution or the grant to a Service Provider of any Profits Participation Units; (ii) the Distribution by the Company to a Member of more than a de minimis amount of Company property other than cash, unless all Members receive simultaneous Distributions of undivided interests in the distributed property in proportion to their interests in the Company; and (iii) the termination of the Company for federal income tax purposes pursuant to Code Section 708(b)(1)(B) or the liquidation of the Company within the meaning of Treasury Regulations Section 1.704-1(b)(2)(ii)(g);

(c) The Book Value of any Company asset distributed to any Member shall be the gross fair market value on the date of distribution;

(d) Each Company asset shall be increased or decreased, as the case may be, to reflect any adjustments to the adjusted tax basis of such Company asset pursuant to Code Section 734(b) or Code Section 743(b), but only to the extent that such adjustments are taken into account in determining Capital Account balances pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m); provided, that Book Values shall not be adjusted pursuant to this paragraph (d) to the extent that an adjustment pursuant to paragraph (c) above is made in conjunction with a transaction that would otherwise result in an adjustment pursuant to this paragraph (d); and

(e) If the Book Value of an asset is determined or adjusted pursuant to paragraph (a), (b) or (d) of this definition, such Book Value shall thereafter be adjusted by the Depreciation taken into account concerning such asset for purposes of computing Net Profit and Net Loss.

8. Capital Account. With respect to any Member, the account reflecting the capital interest of the Member in the Company, consisting of the Member's Initial Capital Contribution maintained and adjusted in accordance with Article 6.

9. Capital Contribution. The amount of cash or the Book Value of property contributed to the Company by a Member. Capital Contributions do not include amounts paid to any Person concerning any assignment of a Membership Interest or any interest therein or concerning any substitution of a Member. Capital Contributions also shall not be deemed a loan.

10. Cash Flow. The sum arrived at by deducting the total "costs" of the Company from the total gross cash receipts of the Company derived from all sources. For purposes of this definition, "costs" shall include, but not be limited to, (a) all obligations incurred or paid by the Company, (b) all payments of principal and interest on loans to the Company, (c) direct out-of-pocket expenses of the Company, (d) any amounts set aside for reserves for working capital or contingencies, and (e) Company administrative expenses. Costs shall not include cost recovery, amortization, depreciation deductions and expenditures of funds from reserves. The determination of what is a "cost" must be approved by the Members irrespective of the treatment of such matters for tax and accounting

11. Change of Control. Means: (a) the sale of all or substantially all of the consolidated assets of the Company to a Third Party Purchaser; (b) a sale resulting in no less than a majority of the Common Units on a Fully Diluted Basis being held by a Third Party Purchaser; or (c) a merger, consolidation, recapitalization or reorganization of the Company with or into a Third Party Purchaser that results in the inability of the Members to designate or elect the Manager (or the majority thereof).

12. Code. The Internal Revenue Code of 1986, as amended.

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13. Company. The limited liability company formed pursuant to the Articles and this Agreement.

14. Depreciation. Means, with respect to any Company asset for each Fiscal Year, the Company's depreciation, amortization, or other cost recovery deductions determined for federal income tax purposes, except that if the Book Value of an asset differs from its adjusted tax basis at the beginning of such Fiscal Year, Book Depreciation shall be an amount which bears the same ratio to such beginning Book Value as the federal income tax depreciation, amortization, or other cost recovery deduction for such Fiscal Year bears to such beginning adjusted tax basis; *provided*, that if the adjusted basis for federal income tax purposes of an asset at the beginning of such Fiscal Year is zero and the Book Value of the asset is positive, Book Depreciation shall be determined with reference to such beginning Book Value using any permitted method selected by the Manager in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv)(g)(3).

15. Dissociated Member. A Member to whom a Disassociation Event occurs.

16. Dissociation Event. Each event named in Section 17706.02 of the Act and each of the following:

- (a) The Bankruptcy of a Member;
- (b) If a Member shall admit in writing his/her/its inability to pay his/her/its debts as they mature;
- (c) If a Member shall give notice to any governmental body of insolvency or pending insolvency;
- (d) If a Member files a petition seeking for the Member any reorganization, arrangement, composition, readjustment, liquidation, dissolution, or similar relief under any state law;
- (e) If a Member makes an assignment for the benefit of creditors;
- (f) If a Member seeks, consents to, or acquiesces in the appointment of a trustee for, receiver for, or liquidation of the Member or Interest Holder or of any or all substantial part of the Member's properties;
- (g) If a Member is acting as a Member by virtue of being a trustee of a trust, the termination of the trust;
- (h) If a Member is a partnership or limited liability company, the dissolution and commencement of winding up of the partnership or limited liability company;
- (i) If a Member is a corporation, the dissolution of the corporation or the revocation of its charter;
- (j) If a Member is a partnership, limited liability company or corporation, a change in control of such entity; or
- (k) If a Member is an estate, the distribution by the fiduciary of the estate's entire interest in the Company.

17. Distribution(s). As defined in Section 17701.02 of the Act and, additionally, any cash or other property distributed to Members arising from their Membership Interests.

18. Fiscal Year. Defined in Section 11.4 above.

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19. Fully Diluted Basis. Means, as of any date of determination, (a) with respect to all the Units, all issued and outstanding Units of the Company and all Units issuable upon the exercise of any outstanding Unit Equivalents as of such date, whether or not such Unit Equivalent is at the time exercisable, or (b) with respect to any specified type, class or series of Units, all issued and outstanding Units designated as such type, class or series and all such designated Units issuable upon the exercise of any outstanding Unit Equivalents as of such date, whether or not such Unit Equivalent is at the time exercisable.

20. Initial Capital Contribution. The Initial Capital Contribution of each Member stated in Schedule A.

21. Membership Rights. All rights of a Member concerning the Company other than that Member's Transferable Interest, and shall include the following rights and powers: (a) to appoint, remove and replace the Manager in accordance with Sections 5.1 and 10.2 above; (b) to inspect the books, records and accounts of the Company in accordance with Section 5.5 above; (c) to approve or deny a plan for merger or conversion in accordance with Section 17710.01 et seq. of the Act; (d) to approve or deny a dissolution or termination of the Company in accordance with Sections 5.1 and 13.2.1 above; and (e) with respect to Common Units, to the extent expressly provided by this Agreement (including Section 5.1 above) and the Act, to vote on or grant consent or approval concerning matters coming before the Company.

22. Members. As defined in Section 17701.02 of the Act and, additionally, refers collectively to all Persons admitted as members of the Company and as set forth in Section 4.3 of the Agreement and who have not dissociated under Section 4.5. Reference to a "Member" is any one of the Members.

23. Membership Interest. Defined in Section 17701.02 of the Act and, additionally, the entire interests of a Member in the Company representing such Member's rights, powers and privileges as specified in this Agreement and the Act. The term Membership Interest includes the Member's Membership Rights, if any, and Transferable Interest.

24. Minimum Gain. The excess of the fair market value of a property over the tax basis of that property, provided that Minimum Gain is never less than the excess of the amount, if any, by which the Nonrecourse Liability secured by a property exceeds the tax basis of that property.

25. Net Profit and Net Loss. For each Fiscal Year, an amount equal to the taxable income or loss of the Company for such year, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss and deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments: (a) if the Book Value of any Company asset is adjusted pursuant to the provisions of the definition of Book Value, the amount of such adjustment shall be taken into account as gain or loss from the disposition of such asset for purposes of computing Net Profit or Net Loss; (b) gain or loss resulting from any disposition of Company property with respect to which gain or loss is recognized for federal income tax purposes shall be computed by reference to the Book Value of the property disposed of, notwithstanding that the adjusted tax basis of such property differs from its Book Value; (c) in lieu of the depreciation, amortization, and other cost recovery deductions taken into account in computing such taxable income or loss, there shall be taken into account Depreciation for such Fiscal Year or other period, computed in accordance with the definition of Depreciation; (d) any receipts of the Company that are exempt from federal income tax and are not otherwise included in taxable income or loss shall be added to such taxable income or loss; and (e) any expenditures of the Company described in Code Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant to Section 1.704-1(b)(2)(iv)(i) of the Regulations, and not otherwise taken into account in computing taxable income or loss pursuant to this paragraph, shall be subtracted from such taxable income or added to such taxable loss.

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26. Nonrecourse Liability. Any liability secured by a property or Company assets with respect to which no Member (or a party closely related to the Member) is personally liable.

27. Notice. Means a written notice required or permitted under this Agreement. A notice shall be deemed given or sent when (a) deposited, as certified mail or for overnight delivery, postage and fees prepaid, in the United States mail or with a reputable delivery service, (b) when transmitted by electronic transmission to the address on file with the Company or (c) when delivered by personal delivery. The addresses for the purpose of giving notice are as identified on Schedule A of this Agreement unless otherwise changed by written notice in accordance with this paragraph.

28. Person. An individual, partnership, limited partnership, trust, estate, association, corporation, limited liability company or other entity, whether domestic or foreign. Nothing in this subdivision shall be construed to confer any rights under the California Constitution or the United States Constitution.

29. Profits Interest Hurdle. The profits interest hurdle, or "strike price", means the amount set forth in the agreement, under which the subject Service Provider is granted the subject Profits Participation Units ("Award Agreement"), reflecting the Profits Participation Liquidation Value of the relevant Profits Participation Units at the time the units are issued.

30. Profits Participation Liquidation Value. Means, as of the date of determination and with respect to the relevant new Profits Participation Units to be issued, the aggregate amount of Distributions that would be distributed ("Distributed") to the Members pursuant to Section 8.1 above, if, immediately prior to the issuance of the relevant new Profits Participation Units, the Company sold all of its assets for Fair Market Value and immediately liquidated, the Company's debts and liabilities were satisfied and the proceeds of the liquidation were Distributed pursuant to Section 13.4.2 above.

31. Regulations. The current Treasury Regulations promulgated under the Code.

32. Substitute Member. A Transferee who has also been admitted to all the rights of membership pursuant to this Agreement.

33. Tax Matters Partner or Partnership Representative. The Member who is authorized and required to represent the Company at Company expense in connection with all examinations of the Company's affairs by tax authorities, including administrative and judicial proceedings, and to expend Company funds as necessary and reasonable for professional services and costs associated therewith.

34. Third Party Purchaser. Means any Person who, immediately prior to the contemplated transaction, (a) does not directly or indirectly own or have the right to acquire any outstanding Preferred Units or Common Units (or applicable Unit Equivalents) or (b) is not a Permitted Transferee of any Person who directly or indirectly owns or has the right to acquire any Preferred Units or Common Units (or applicable Unit Equivalents).

35. Transferable Interest. Defined in Section 17701.02 of the Act and, additionally, all of the interests of a Member in the Company's Net Profits, Net Losses, Capital and Distributions (expressly excluding any Membership Rights).

36. Transferee. Defined in Section 17701.02 of the Act and, additionally, a recipient of a Membership Interest who is not admitted as a Substitute Member, holds only a Transferable Interest in the Company, and shall not have the right to: (i) become a Member without the unanimous approval of all Members; (ii) exercise any Membership Rights; or (iii) act as an agent of the Company.

37. Unit. Means a unit representing a fractional part of the Membership Interests of

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the Members and shall include all types and classes of Units, including the Preferred Units, the Common Units and the Profits Participation Units; *provided*, that any type or class of Unit shall have the privileges, preference, duties, liabilities, obligations and rights set forth in this Agreement and the Membership Interests represented by such type or class or series of Unit shall be determined in accordance with such privileges, preference, duties, liabilities, obligations and rights.

38. **Unit Equivalents.** Means any security or obligation that is by its terms, directly or indirectly, convertible into, exchangeable or exercisable for Units, and any option, warrant or other right to subscribe for, purchase or acquire Units.

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### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM C

### UNDER THE SECURITIES ACT OF 1933

### Issuer Information

**Name of Issuer:** BYGMusic LLC

**Legal Status:** Limited Liability Company

**Jurisdiction of Incorporation/Organization:** CA

**Date of Organization:** 04-23-2015

**Physical Address:** 1140 Highland Avenue #169, Manhattan Beach, CA, 90266

**Issuer Website:** http://www.BYGMusic.com

**Is there a Co-Issuer?:** Yes

**Intermediary Name:** Wefunder Portal LLC

**Intermediary CIK:** 0001670254

**Intermediary File Number:** 007-00033

**Intermediary CRD Number:** 283503

### Offering Information

**Compensation to Intermediary:** 6.5% of the offering amount upon a successful fundraise, and be entitled to reimbursement for out-of-pocket third party expenses it pays or incurs on behalf of the Issuer in connection with the offering.

**Financial Interest in Issuer:** No

**Type of Security Offered:** Other

**Other Description of Security:** Simple Agreement for Future Equity (SAFE)

**Number of Securities Offered:** 25000

**Price per Security:** $1.00

**Method for Determining Price:** Pro-rated portion of the total principal value of $25,000; interests will be sold in increments of $1; each investment is convertible to one unit as described under Item 13.

**Target Offering Amount:** $25,000.00

**Oversubscription Accepted:** Yes

**Oversubscription Allocation Type:** Other

**Description of Oversubscription:** As determined by the issuer

**Maximum Offering Amount:** $107,000.00

**Deadline to Reach Target Amount:** 04-30-2023

### Annual Report Disclosure Requirements

**Current Number of Employees:** 5

**Total Assets (Most Recent Fiscal Year):** $50.00

**Total Assets (Prior Fiscal Year):** $303,812.00

**Cash & Cash Equivalents (Most Recent Fiscal Year):** $50.00

**Cash & Cash Equivalents (Prior Fiscal Year):** $303,812.00

**Accounts Receivable (Most Recent Fiscal Year):** $0.00

**Accounts Receivable (Prior Fiscal Year):** $0.00

**Short-Term Debt (Most Recent Fiscal Year):** $16,000.00

**Short-Term Debt (Prior Fiscal Year):** $39,000.00

**Long-Term Debt (Most Recent Fiscal Year):** $837,538.00

**Long-Term Debt (Prior Fiscal Year):** $786,450.00

**Revenues/Sales (Most Recent Fiscal Year):** $636,749.00

**Revenues/Sales (Prior Fiscal Year):** $725,513.00

**Cost of Goods Sold (Most Recent Fiscal Year):** $406,180.00

**Cost of Goods Sold (Prior Fiscal Year):** $438,087.00

**Taxes Paid (Most Recent Fiscal Year):** $0.00

**Taxes Paid (Prior Fiscal Year):** $0.00

**Net Income (Most Recent Fiscal Year):** $-270,850.00

**Net Income (Prior Fiscal Year):** $-127,846.00

**Jurisdictions Offered:**

ALABAMA, ALASKA, ARIZONA, ARKANSAS, CALIFORNIA, COLORADO, CONNECTICUT, DELAWARE, DISTRICT OF COLUMBIA, FLORIDA, GEORGIA, HAWAII, IDAHO, ILLINOIS, INDIANA, IOWA, KANSAS, KENTUCKY, LOUISIANA, MAINE, MARYLAND, MASSACHUSETTS, MICHIGAN, MINNESOTA, MISSISSIPPI, MISSOURI, MONTANA, NEBRASKA, NEVADA, NEW HAMPSHIRE, NEW JERSEY, NEW MEXICO, NEW YORK, NORTH CAROLINA, NORTH DAKOTA, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, RHODE ISLAND, SOUTH CAROLINA, SOUTH DAKOTA, TENNESSEE, TEXAS, UTAH, VERMONT, VIRGINIA, WASHINGTON, WEST VIRGINIA, WISCONSIN, WYOMING, B5, GU, PR, VI, 1V

### Signatures

**Issuer:** BYGMusic LLC

**Signature:** Krish Sharma

**Title:** CEO

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**Signature:** Krish Sharma

**Title:** CEO

**Date:** 01-31-2023