Document:

Exhibit 10.2

 

NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.

 

 

	Principal Amount: $55,500.00

	Issue Date: January 6, 2021

	Purchase Price: $55,500.00

	 

 

 

CONVERTIBLE PROMISSORY NOTE

 

FOR VALUE RECEIVED, VERDE BIO HOLDINGS, INC., a Nevada corporation (hereinafter called the “Borrower”), hereby promises to pay to the order of POWER UP LENDING GROUP LTD., a Virginia corporation, or registered assigns (the “Holder”) the sum of $55,500.00 together with any interest as set forth herein, on January 6, 2022 (the “Maturity Date”), and to pay interest on the unpaid principal balance hereof at the rate of twelve percent (12%)(the “Interest Rate”) per annum from the date hereof (the “Issue Date”) until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty two percent (22%) per annum from the due date thereof until the same is paid (“Default Interest”). Interest shall be computed on the basis of a 365 day year and the actual number of days elapsed. Interest shall commence accruing on the Issue Date but shall not be payable until the Note becomes payable (whether at Maturity Date or upon acceleration or by prepayment). All payments due hereunder (to the extent not converted into common stock, $ 0.001 par value per share (the “Common Stock”) in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Each capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Securities Purchase Agreement dated the date hereof, pursuant to which this Note was originally issued (the “Purchase Agreement”).

 

This Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

The following terms shall apply to this Note:

 

 

ARTICLE I. CONVERSION RIGHTS

 

1.1Conversion Right. The Holder shall have the right from time to time, and at any time during the period beginning on the date which is one hundred eighty (180) days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount (as defined in Article III), each in respect of the remaining outstanding amount of this Note to convert all or any part of the outstanding and unpaid amount of this Note into fully paid and non-assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into which such Common Stock shall hereafter be changed or reclassified at the conversion price (the “Conversion Price”) determined as provided herein (a “Conversion”); provided, however, that in no event shall the Holder be entitled to convert any portion of this Note in excess of that portion of this Note upon conversion of which the sum of (1) the number of shares of Common Stock beneficially owned by the Holder and its affiliates (other than shares of Common Stock which may be deemed beneficially owned through the ownership of the unconverted portion of the Notes or the unexercised or unconverted portion of any other security of the Borrower subject to a limitation on conversion or exercise analogous to the limitations contained herein) and (2) the number of shares of Common Stock issuable upon the conversion of the portion of this Note with respect to which the determination of this proviso is being made, would result in beneficial ownership by the Holder and its affiliates of more than 4.99% of the outstanding shares of Common Stock. For purposes of the proviso to the immediately preceding sentence, beneficial ownership shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Regulations 13D-G thereunder, except as otherwise provided in clause (1) of such proviso. The beneficial ownership limitations on conversion as set forth in the section may NOT be waived by the Holder. The number of shares of Common Stock to be issued upon each conversion of this Note shall be determined by dividing the Conversion Amount (as defined below) by the applicable Conversion Price then in effect on the date specified in the notice of conversion, in the form attached hereto as Exhibit A (the “Notice of Conversion”), delivered to the Borrower by the Holder in accordance with Section 1.4 below; provided that the Notice of Conversion is submitted by facsimile or e-mail (or by other means resulting in, or reasonably expected to result in, notice) to the Borrower before 6:00 p.m., New York, New York time on such conversion date (the “Conversion Date”); however, if the Notice of Conversion is sent after 6:00pm, New York, New York time the Conversion Date shall be the next business day. The term “Conversion Amount” means, with respect to any conversion of this Note, the sum of (1) the principal amount of this Note to be converted in such conversion plus (2) at the Holder’s option, accrued and unpaid interest, if any, on such principal amount at the interest rates provided in this Note to the Conversion Date, plus (3) at the Holder’s option, Default Interest, if any, on the amounts referred to in the immediately preceding clauses (1) and/or (2) plus (4) at the Holder’s option, any amounts owed to the Holder pursuant to Sections 1.4 hereof. 

 

1.2Conversion Price. The Conversion Price shall equal the Variable Conversion Price (as defined herein)(subject to equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower’s securities or the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar events). The "Variable Conversion Price" shall mean 58% multiplied by the Market Price (as defined herein) (representing a discount rate of 42%). “Market Price” means the lowest Trading Price (as defined below) for the Common Stock during the twenty (20) Trading Day period ending on the latest complete Trading Day prior to the Conversion Date. “Trading Price” means, for any security as of any date, the closing bid price on the OTCQB, OTCQX, Pink Sheets electronic quotation system or applicable trading market (the “OTC”) as reported by a reliable reporting service (“Reporting Service”) designated by the Holder (i.e.  

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Bloomberg) or, if the OTC is not the principal trading market for such security, the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any market makers for such security that are listed in the “pink sheets”. If the Trading Price cannot be calculated for such security on such date in the manner provided above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of such Notes. “Trading Day” shall mean any day on which the Common Stock is tradable for any period on the OTC, or on the principal securities exchange or other securities market on which the Common Stock is then being traded.

 

1.3Authorized Shares. The Borrower covenants that during the period the conversion right exists, the Borrower will reserve from its authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for the issuance of Common Stock upon the full conversion of this Note issued pursuant to the Purchase Agreement. The Borrower is required at all times to have authorized and reserved ten times the number of shares that would be issuable upon full conversion of the Note (assuming that the 4.99% limitation set forth in Section 1.1 is not in effect)(based on the respective Conversion Price of the Note (as defined in Section 1.2) in effect from time to time, initially 45,566,502)(the “Reserved Amount”) . The Reserved Amount shall be increased (or decreased with the written consent of the Holder) from time to time in accordance with the Borrower’s obligations hereunder. The Borrower represents that upon issuance, such shares will be duly and validly issued, fully paid and non-assessable. In addition, if the Borrower shall issue any securities or make any change to its capital structure which would change the number of shares of Common Stock into which the Notes shall be convertible at the then current Conversion Price, the Borrower shall at the same time make proper provision so that thereafter there shall be a sufficient number of shares of Common Stock authorized and reserved, free from preemptive rights, for conversion of the outstanding Note. The Borrower (i) acknowledges that it has irrevocably instructed its transfer agent to issue certificates for the Common Stock issuable upon conversion of this Note, and (ii) agrees that its issuance of this Note shall constitute full authority to its officers and agents who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for shares of Common Stock in accordance with the terms and conditions of this Note. 

 

If, at any time the Borrower does not maintain the Reserved Amount it will be considered an Event of Default under Section 3.2 of the Note.

 

1.4Method of Conversion.  

 

(a)Mechanics of Conversion. As set forth in Section 1.1 hereof, from time to time, and at any time during the period beginning on the date which is one hundred eighty (180) days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount, this Note may be converted by the Holder in whole or in part at any time from time to time after the Issue Date, by (A) submitting to the Borrower a Notice of Conversion (by facsimile, e-mail or other reasonable means of communication dispatched on the Conversion Date prior to 6:00 p.m., New York, New York time) and (B) subject to Section 1.4(b), surrendering this Note at the principal office of the Borrower (upon payment in full of any amounts owed hereunder). 

 

The Holder shall be entitled to deduct $500.00 from the conversion amount in each Notice of Conversion to cover Holder's deposit fees associated with each Notice of Conversion. Any additional expenses incurred by Holder with respect to the Borrower's transfer agent, for the issuance of the Common Stock into which 

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this Note is convertible into, shall immediately and automatically be added to the balance of the Note at such time as the expenses are incurred by Holder.

 

If at any time the Conversion Price as determined hereunder for any conversion would be less than the par value of the Common Stock, then at the sole discretion of the Holder, the Conversion Price hereunder may equal such par value for such conversion and the Conversion Amount for such conversion may be increased to include Additional Principal, where "Additional Principal" means such additional amount to be added to the Conversion Amount to the extent necessary to cause the number of conversion shares issuable upon such conversion to equal the same number of conversion shares as would have been issued had the Conversion Price not been adjusted by the Holder to the par value price.

 

(b)Surrender of Note Upon Conversion. Notwithstanding anything to the contrary set forth herein, upon conversion of this Note in accordance with the terms hereof, the Holder shall not be required to physically surrender this Note to the Borrower unless the entire unpaid principal amount of this Note is so converted. The Holder and the Borrower shall maintain records showing the principal amount so converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower, so as not to require physical surrender of this Note upon each such conversion. 

 

(c)Delivery of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of a facsimile transmission or e-mail (or other reasonable means of communication) of a Notice of Conversion meeting the requirements for conversion as provided in this Section 1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder certificates for the Common Stock issuable upon such conversion within three (3) business days after such receipt (the “Deadline”) (and, solely in the case of conversion of the entire unpaid principal amount hereof, surrender of this Note) in accordance with the terms hereof and the Purchase Agreement. Upon receipt by the Borrower of a Notice of Conversion, the Holder shall be deemed to be the holder of record of the Common Stock issuable upon such conversion, the outstanding principal amount and the amount of accrued and unpaid interest on this Note shall be reduced to reflect such conversion, and, unless the Borrower defaults on its obligations hereunder, all rights with respect to the portion of this Note being so converted shall forthwith terminate except the right to receive the Common Stock or other securities, cash or other assets, as herein provided, on such conversion. If the Holder shall have given a Notice of Conversion as provided herein, the Borrower’s obligation to issue and deliver the certificates for Common Stock shall be absolute and unconditional, irrespective of the absence of any action by the Holder to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any person or any action to enforce the same, any failure or delay in the enforcement of any other obligation of the Borrower to the holder of record, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder of any obligation to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation of the Borrower to the Holder in connection with such conversion. 

 

(d)Delivery of Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Common Stock issuable upon conversion, provided the Borrower is participating in the Depository Trust Company (“DTC”) Fast Automated Securities Transfer (“FAST”) program, upon request of the Holder and its compliance with the provisions set forth herein, the Borrower shall use its best efforts to cause its transfer agent to electronically transmit the Common Stock issuable upon conversion to the Holder by crediting the account of Holder’s Prime Broker with DTC through its Deposit Withdrawal Agent Commission (“DWAC”) system. 

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(e)Failure to Deliver Common Stock Prior to Deadline. Without in any way limiting the Holder’s right to pursue other remedies, including actual damages and/or equitable relief, the parties agree that if delivery of the Common Stock issuable upon conversion of this Note is not delivered by the Deadline due to action and/or inaction of the Borrower, the Borrower shall pay to the Holder $2,000 per day in cash, for each day beyond the Deadline that the Borrower fails to deliver such Common Stock (the “Fail to Deliver Fee”); provided; however that the Fail to Deliver Fee shall not be due if the failure is a result of a third party (i.e., transfer agent; and not the result of any failure to pay such transfer agent) despite the best efforts of the Borrower to effect delivery of such Common Stock. Such cash amount shall be paid to Holder by the fifth day of the month following the month in which it has accrued or, at the option of the Holder (by written notice to the Borrower by the first day of the month following the month in which it has accrued), shall be added to the principal amount of this Note, in which event interest shall accrue thereon in accordance with the terms of this Note and such additional principal amount shall be convertible into Common Stock in accordance with the terms of this Note. The Borrower agrees that the right to convert is a valuable right to the Holder. The damages resulting from a failure, attempt to frustrate, interference with such conversion right are difficult if not impossible to qualify. Accordingly, the parties acknowledge that the liquidated damages provision contained in this Section 1.4(e) are justified. 

 

1.5Concerning the Shares. The shares of Common Stock issuable upon conversion of this Note may not be sold or transferred unless: (i) such shares are sold pursuant to an effective registration statement under the Act or (ii) the Borrower or its transfer agent shall have been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for opinions of counsel in comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred pursuant to an exemption from such registration (such as Rule 144 or a successor rule) (“Rule 144”); or (iii) such shares are transferred to an “affiliate” (as defined in Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in accordance with this Section 1.5 and who is an Accredited Investor (as defined in the Purchase Agreement). 

 

Any restrictive legend on certificates representing shares of Common Stock issuable upon conversion of this Note shall be removed and the Borrower shall issue to the Holder a new certificate therefore free of any transfer legend if the Borrower or its transfer agent shall have received an opinion of counsel from Holder’s counsel, in form, substance and scope customary for opinions of counsel in comparable transactions, to the effect that (i) a public sale or transfer of such Common Stock may be made without registration under the Act, which opinion shall be accepted by the Company so that the sale or transfer is effected; or (ii) in the case of the Common Stock issuable upon conversion of this Note, such security is registered for sale by the Holder under an effective registration statement filed under the Act; or otherwise may be sold pursuant to an exemption from registration. In the event that the Company does not reasonably accept the opinion of counsel provided by the Holder with respect to the transfer of Securities pursuant to an exemption from registration (such as Rule 144), at the Deadline, it will be considered an Event of Default pursuant to Section 3.2 of the Note.

 

1.6Effect of Certain Events.  

 

(a)Effect of Merger, Consolidation, Etc. At the option of the Holder, the sale, conveyance or disposition of all or substantially all of the assets of the Borrower, the effectuation by the Borrower of a transaction or series of related transactions in which more than 50% of the voting power of the Borrower is disposed of, or the consolidation, merger or other business combination of the Borrower with or into any other Person (as defined below) or Persons when the Borrower is not the survivor shall be  

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deemed to be an Event of Default (as defined in Article III) pursuant to which the Borrower shall be required to pay to the Holder upon the consummation of and as a condition to such transaction an amount equal to the Default Amount (as defined in Article III). “Person” shall mean any individual, corporation, limited liability company, partnership, association, trust or other entity or organization.

 

(b)Adjustment Due to Merger, Consolidation, Etc. If, at any time when this Note is issued and outstanding and prior to conversion of all of the Note, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar event, as a result of which shares of Common Stock of the Borrower shall be changed into the same or a different number of shares of another class or classes of stock or securities of the Borrower or another entity, or in case of any sale or conveyance of all or substantially all of the assets of the Borrower other than in connection with a plan of complete liquidation of the Borrower, then the Holder of this Note shall thereafter have the right to receive upon conversion of this Note, upon the basis and upon the terms and conditions specified herein and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion, such stock, securities or assets which the Holder would have been entitled to receive in such transaction had this Note been converted in full immediately prior to such transaction (without regard to any limitations on conversion set forth herein), and in any such case appropriate provisions shall be made with respect to the rights and interests of the Holder of this Note to the end that the provisions hereof (including, without limitation, provisions for adjustment of the Conversion Price and of the number of shares issuable upon conversion of the Note) shall thereafter be applicable, as nearly as may be practicable in relation to any securities or assets thereafter deliverable upon the conversion hereof. The Borrower shall not affect any transaction described in this Section 1.6(b) unless (a) it first gives, to the extent practicable, ten (10) days prior written notice (but in any event at least five (5) days prior written notice) of the record date of the special meeting of shareholders to approve, or if there is no such record date, the consummation of, such merger, consolidation, exchange of shares, recapitalization, reorganization or other similar event or sale of assets (during which time the Holder shall be entitled to convert this Note) and (b) the resulting successor or acquiring entity (if not the Borrower) assumes by written instrument the obligations of this Note. The above provisions shall similarly apply to successive consolidations, mergers, sales, transfers or share exchanges. 

 

(c)Adjustment Due to Distribution. If the Borrower shall declare or make any distribution of its assets (or rights to acquire its assets) to holders of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any dividend or distribution to the Borrower’s shareholders in cash or shares (or rights to acquire shares) of capital stock of a subsidiary (i.e., a spin-off)) (a “Distribution”), then the Holder of this Note shall be entitled, upon any conversion of this Note after the date of record for determining shareholders entitled to such Distribution, to receive the amount of such assets which would have been payable to the Holder with respect to the shares of Common Stock issuable upon such conversion had such Holder been the holder of such shares of Common Stock on the record date for the determination of shareholders entitled to such Distribution. 

 

1.7Prepayment. Notwithstanding anything to the contrary contained in this Note, at any time during the periods set forth on the table immediately following this paragraph (the “Prepayment Periods”) or as otherwise agreed to between the Borrower and the Holder, the Borrower shall have the right, exercisable on not more than three (3) Trading Days prior written notice to the Holder of the Note to prepay the outstanding Note (principal and accrued interest), in full, in accordance with this Section 1.7. Any notice of prepayment hereunder (an “Optional Prepayment Notice”) shall be delivered to the Holder of the Note at its registered addresses and shall state: (1) that the Borrower is exercising its right to prepay the Note, and (2) the date of prepayment which shall be not more than three (3) Trading Days from the date of the  

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Optional Prepayment Notice. On the date fixed for prepayment (the “Optional Prepayment Date”), the Borrower shall make payment of the Optional Prepayment Amount (as defined below) to Holder, or upon the direction of the Holder as specified by the Holder in a writing to the Borrower (which shall direction to be sent to Borrower by the Holder at least one (1) business day prior to the Optional Prepayment Date). If the Borrower exercises its right to prepay the Note, the Borrower shall make payment to the Holder of an amount in cash equal to the percentage (“Prepayment Percentage”) as set forth in the table immediately following this paragraph opposite the applicable Prepayment Period, multiplied by the sum of: (w) the then outstanding principal amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the Optional Prepayment Date plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and (x) plus (z) any amounts owed to the Holder pursuant to Section 1.4 hereof (the “Optional Prepayment Amount”).

 

	Prepayment Period

	Prepayment Percentage

	1. The period beginning on the Issue Date and ending on the date which is sixty (60) days following the Issue Date.

	120%

	2. The period beginning on the date which is sixty-one (61) days following the Issue Date and ending on the date which is ninety (90) days following the Issue Date.

	125%

	3. The period beginning on the date that is ninety-one (91) day from the Issue Date and ending one hundred twenty (120) days following the Issue Date.

	130%

	4. The period beginning on the date that is one hundred twenty-one (121) day from the Issue Date and ending one hundred fifty (150) days following the Issue Date.

	135%

	5. The period beginning on the date that is one hundred fifty-one (151) day from the Issue Date and ending one hundred eighty (180) days following the Issue Date.

	140%

 

After the expiration of the Prepayment Periods set forth above, the Holder may submit an Optional Prepayment Notice to the Holder. Upon receipt by the Holder of the Optional Prepayment Notice post Prepayment Periods, the prepayment shall be subject to the Holder’s and the Borrower’s agreement with respect to the applicable Prepayment Percentage.

 

Notwithstanding anything contained herein to the contrary, the Holder’s conversion rights herein shall not be affected in any way until the Note is fully paid (funds received by the Holder) pursuant to an Optional Prepayment Notice.

 

ARTICLE II. CERTAIN COVENANTS

 

2.1Sale of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s written consent, sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary course of business. Any consent to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition. 

 

ARTICLE III. EVENTS OF DEFAULT

 

If any of the following events of default (each, an “Event of Default”) shall occur:

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3.1Failure to Pay Principal and Interest. The Borrower fails to pay the principal hereof or interest thereon when due on this Note, whether at maturity or upon acceleration and such breach continues for a period of five (5) days after written notice from the Holder. 

 

3.2Conversion and the Shares. The Borrower fails to issue shares of Common Stock to the Holder (or announces or threatens in writing that it will not honor its obligation to do so) upon exercise by the Holder of the conversion rights of the Holder in accordance with the terms of this Note, fails to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form) any certificate for shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, the Borrower directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer agent in transferring (or issuing) (electronically or in certificated form) any certificate for shares of Common Stock to be issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, or fails to remove (or directs its transfer agent not to remove or impairs, delays, and/or hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer instructions in respect thereof) on any certificate for any shares of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note (or makes any written announcement, statement or threat that it does not intend to honor the obligations described in this paragraph) and any such failure shall continue uncured (or any written announcement, statement or threat not to honor its obligations shall not be rescinded in writing) for three (3) business days after the Holder shall have delivered a Notice of Conversion. It is an obligation of the Borrower to remain current in its obligations to its transfer agent. It shall be an event of default of this Note, if a conversion of this Note is delayed, hindered or frustrated due to a balance owed by the Borrower to its transfer agent. If at the option of the Holder, the Holder advances any funds to the Borrower’s transfer agent in order to process a conversion, such advanced funds shall be paid by the Borrower to the Holder within forty-eight (48) hours of a demand from the Holder. 

 

3.3Breach of Covenants. The Borrower breaches any material covenant or other material term or condition contained in this Note and any collateral documents including but not limited to the Purchase Agreement and such breach continues for a period of twenty (20) days after written notice thereof to the Borrower from the Holder. 

 

3.4Breach of Representations and Warranties. Any representation or warranty of the Borrower made herein or in any agreement, statement or certificate given in writing pursuant hereto or in connection herewith (including, without limitation, the Purchase Agreement), shall be false or misleading in any material respect when made and the breach of which has (or with the passage of time will have) a material adverse effect on the rights of the Holder with respect to this Note or the Purchase Agreement. 

 

3.5Receiver or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors, or apply for or consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such a receiver or trustee shall otherwise be appointed. 

 

3.6Bankruptcy. Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary of the Borrower. 

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3.7Delisting of Common Stock. The Borrower shall fail to maintain the listing of the Common Stock on at least one of the OTC (which specifically includes the quotation platforms maintained by the OTC Markets Group) or an equivalent replacement exchange, the Nasdaq National Market, the Nasdaq SmallCap Market, the New York Stock Exchange, or the American Stock Exchange. 

 

3.8Failure to Comply with the Exchange Act. The Borrower shall fail to comply with the reporting requirements of the Exchange Act; and/or the Borrower shall cease to be subject to the reporting requirements of the Exchange Act (the filing of a Form 15 with the SEC is an immediate Event of Default). 

 

3.9Liquidation. Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business. 

 

3.10 Cessation of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern” shall not be an admission that the Borrower cannot pay its debts as they become due.

 

3.11 Financial Statement Restatement. The restatement of any financial statements filed by the Borrower with the SEC at any time after 180 days after the Issuance Date for any date or period until this Note is no longer outstanding, if the result of such restatement would, by comparison to the un-restated financial statement, have constituted a material adverse effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.12Replacement of Transfer Agent. In the event that the Borrower proposes to replace its transfer agent, the Borrower fails to provide, prior to the effective date of such replacement, a fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered pursuant to the Purchase Agreement (including but not limited to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount) signed by the successor transfer agent to Borrower and the Borrower. 

 

3.13Cross-Default. Notwithstanding anything to the contrary contained in this Note or the other related or companion documents, a breach or default by the Borrower of any covenant or other term or condition contained in any of the Other Agreements, after the passage of all applicable notice and cure or grace periods, shall, at the option of the Holder, be considered a default under this Note and the Other Agreements, in which event the Holder shall be entitled (but in no event required) to apply all rights and remedies of the Holder under the terms of this Note and the Other Agreements by reason of a default under said Other Agreement or hereunder. “Other Agreements” means, collectively, all agreements and instruments between, among or by: (1) the Borrower, and, or for the benefit of, (2) the Holder and any affiliate of the Holder, including, without limitation, promissory notes; provided, however, the term “Other Agreements” shall not include the related or companion documents to this Note. Each of the loan transactions will be cross-defaulted with each other loan transaction and with all other existing and future debt of Borrower to the Holder. 

 

Upon the occurrence and during the continuation of any Event of Default specified in Section 3.1 (solely with respect to failure to pay the principal hereof or interest thereon when due at the Maturity Date), the Note shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Default Amount (as defined herein). UPON 

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THE OCCURRENCE AND DURING THE CONTINUATION OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, THE NOTE SHALL BECOME IMMEDIATELY DUE AND PAYABLE AND THE BORROWER SHALL PAY TO THE HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS HEREUNDER, AN AMOUNT EQUAL TO: (Y) THE DEFAULT AMOUNT (AS DEFINED HEREIN); MULTIPLIED BY (Z) TWO (2). Upon the occurrence and during the continuation of any Event of Default specified in Sections 3.1 (solely with respect to failure to pay the principal hereof or interest thereon when due on this Note upon a Trading Market Prepayment Event pursuant to Section 1.7 or upon acceleration), 3.3, 3.4, 3.7, 3.8, 3.10, 3.11, 3.12, 3.13, and/or 3.14 exercisable through the delivery of written notice to the Borrower by such Holders (the “Default Notice”), and upon the occurrence of an Event of Default specified the remaining sections of Articles III (other than failure to pay the principal hereof or interest thereon at the Maturity Date specified in Section 3,1 hereof), the Note shall become immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to 150% times the sum of (w) the then outstanding principal amount of this Note plus (x) accrued and unpaid interest on the unpaid principal amount of this Note to the date of payment (the “Mandatory Prepayment Date”) plus (y) Default Interest, if any, on the amounts referred to in clauses (w) and/or (x) plus (z) any amounts owed to the Holder pursuant to Sections 1.3 and 1.4(g) hereof (the then outstanding principal amount of this Note to the date of payment plus the amounts referred to in clauses (x), (y) and (z) shall collectively be known as the “Default Amount”) and all other amounts payable hereunder shall immediately become due and payable, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs, including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights and remedies available at law or in equity.

 

If the Borrower fails to pay the Default Amount within five (5) business days of written notice that such amount is due and payable, then the Holder shall have the right at any time, so long as the Borrower remains in default (and so long and to the extent that there are sufficient authorized shares), to require the Borrower, upon written notice, to immediately issue, in lieu of the Default Amount, the number of shares of Common Stock of the Borrower equal to the Default Amount divided by the Conversion Price then in effect.

 

ARTICLE IV. MISCELLANEOUS

 

4.1Failure or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further exercise thereof or of any other right, power or privileges. All rights and remedies existing hereunder are cumulative to, and not exclusive of, any rights or remedies otherwise available. 

 

4.2Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day following the  

10

date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If to the Borrower, to:

 

VERDE BIO HOLDINGS, INC.
5 Cowboys Way, Suite 300 
Frisco TX 75034
Attn: Scott A. Cox, Chief Executive Officer 
Fax:
Email: scott@verdebh.com

 

If to the Holder:

 

POWER UP LENDING GROUP LTD.
111 Great Neck Road, Suite 214
Great Neck, NY 11021
Attn: Curt Kramer, Chief Executive Officer
e-mail: info@poweruplending.com

 

With a copy by fax only to (which copy shall not constitute notice):

 

Naidich Wurman LLP
111 Great Neck Road, Suite 216
Great Neck, NY 11021
Attn: Allison Naidich 
facsimile: 516-466-3555 
e-mail: allison@nwlaw.com

 

4.3Amendments. This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and the Holder. The term “Note” and all reference thereto, as used throughout this instrument, shall mean this instrument (and the other Notes issued pursuant to the Purchase Agreement) as originally executed, or if later amended or supplemented, then as so amended or supplemented. 

 

4.4Most Favored Nation. During the period where any monies are owed to the Holder pursuant to this Note, if the Borrower engages in any future financing transactions with a third party investor, the Borrower will provide the Holder with written notice (the “MFN Notice”) thereof promptly but in no event less than 10 days prior to closing any financing transactions. Included with the MFN Notice shall be a copy of all documentation relating to such financing transaction and shall include, upon written request of the Holder, any additional information related to such subsequent investment as may be reasonably requested by the Holder. In the event the Holder determines that the terms of the subsequent investment are preferable to the terms of the securities of the Borrower issued to the Holder pursuant to the terms of the Purchase Agreement, the Holder will notify the Borrower in writing. Promptly after receipt of such written notice from the Holder, the Borrower agrees to amend and restate the Securities (which may include the conversion terms of this Note), to be identical to the instruments evidencing the subsequent investment. Notwithstanding the foregoing, this Section 4.4 shall not apply in respect of (i) an Exempt Issuance, or (ii) an underwritten public offering of Common Stock. “Exempt Issuance” means the issuance  

11

of: (a) shares of Common Stock or options to employees, officers, consultants, advisors or directors of the Borrower pursuant to any stock or option plan duly adopted for such purpose by a majority of the members of the Board of Directors or a majority of the members of a committee of directors established for such purpose, (b) securities upon the exercise or exchange of or conversion of this Note and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued and outstanding on the date hereof, and (c) securities issued pursuant to acquisitions or strategic transactions approved by a majority of the disinterested directors of the Borrower, provided that any such issuance shall only be to a Person which is, itself or through its subsidiaries, an operating company in a business synergistic with the business of the Borrower and in which the Borrower receives benefits in addition to the investment of funds, but shall not include a transaction in which the Borrower is issuing securities primarily for the purpose of raising capital or to an entity whose primary business is investing in securities.4.5 Assignability. This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit of the Holder and its successors and assigns. Each transferee of this Note must be an “accredited investor” (as defined in Rule 501(a) of the Securities and Exchange Commission). Notwithstanding anything in this Note to the contrary, this Note may be pledged as collateral in connection with a bona fide margin account or other lending arrangement; and may be assigned by the Holder without the consent of the Borrower.

 

4.6Cost of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection, including reasonable attorneys’ fees. 

 

4.7Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of Virginia without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated by this Note shall be brought only in the state courts of New York or in the federal courts located in the Eastern District of New York. The parties to this Note hereby irrevocably waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction or venue or based upon forum non conveniens. The Borrower and Holder waive trial by jury. The prevailing party shall be entitled to recover from the other party its reasonable attorney's fees and costs. In the event that any provision of this Note or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule of 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 statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision of any agreement. Each party hereby irrevocably waives personal service of process and consents to process being served in any suit, action or proceeding in connection with this Note, any agreement or any other document delivered in connection with this Note by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law. 

 

4.8Purchase Agreement. By its acceptance of this Note, each party agrees to be bound by the applicable terms of the Purchase Agreement. 

 

4.9Remedies. The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law for a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by the Borrower of the provisions of this Note, that the Holder shall be entitled, in addition to all other available  

12

remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any breach of this Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic loss and without any bond or other security being required.

 

IN WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer this on January 6, 2021

 

	VERDE BIO HOLDINGS, INC.

	 

	 

	 

	 

	 

	 

	 

	By:

	 

	 

	 

	Scott A. Cox

	 

	 

	Chief Executive Officer

	 

13

 

 

EXHIBIT A — NOTICE OF CONVERSION

 

The undersigned hereby elects to convert $_________________ principal amount of the Note (defined below) into that number of shares of Common Stock to be issued pursuant to the conversion of the Note (“Common Stock”) as set forth below, of VERDE BIO HOLDINGS, INC., a Nevada corporation (the “Borrower”) according to the conditions of the convertible note of the Borrower dated as of January 6, 2021 (the “Note”), as of the date written below. No fee will be charged to the Holder for any conversion, except for transfer taxes, if any.

 

Box Checked as to applicable instructions:

 

[ ]The Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the undersigned or its nominee with DTC through its Deposit Withdrawal Agent Commission system (“DWAC Transfer”). 

 

Name of DTC Prime Broker:

Account Number:

 

[ ]The undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock set forth below (which numbers are based on the Holder’s calculation attached hereto) in the name(s) specified immediately below or, if additional space is necessary, on an attachment hereto: 

 

POWER UP LENDING GROUP LTD.

111 Great Neck Road, Suite 214

Great Neck, NY 11021

Attention: Certificate Delivery

e-mail: info@poweruplendinggroup.com

 

	Date of conversion:

	 

	Applicable Conversion Price:

	$

	Number of shares of common stock to be issued 
pursuant to conversion of the Notes:

	
 

	Amount of Principal Balance due remaining 
under the Note after this conversion:

	
 

 

	POWER UP LENDING GROUP LTD.

	 

	 

	 

	 

	By:

	 

	 

	Name: Curt Kramer

	 

	Title: Chief Executive Officer

	 

	Date:

	 

	 

14EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
  

 
 TRANSACTION AGREEMENT 

among 
 OVERSTOCK.COM, INC.,

 MEDICI VENTURES, INC., 

PELION MV GP, L.L.C. 
 and

 PELION, INC. 

EFFECTIVE AS OF JANUARY 25, 2021 
  

 
  

 TABLE OF CONTENTS 

 

							
		 		  	 	PAGE	 
	 ARTICLE 1 DEFINITIONS AND INTERPRETATION
	  	 	2	 
	 1.1
	 	Definitions	  	 	2	 
	 1.2
	 	Interpretation	  	 	2	 
	 1.3
	 	Coordination with Schedules and Exhibits	  	 	2	 
		
	 ARTICLE 2 THE CONVERSION
	  	 	2	 
	 2.1
	 	Conversion	  	 	2	 
	 2.2
	 	Closing	  	 	2	 
	 2.3
	 	Closing Deliverables	  	 	3	 
	 2.4
	 	Closing Cash	  	 	3	 
		
	 ARTICLE 3 REPRESENTATIONS AND WARRANTIES
	  	 	4	 
	 3.1
	 	Representations and Warranties of Overstock	  	 	4	 
	 3.2
	 	Representations and Warranties of Pelion	  	 	5	 
		
	 ARTICLE 4 OTHER AGREEMENTS
	  	 	7	 
	 4.1
	 	Conduct of the Business	  	 	7	 
	 4.2
	 	Medici Restructuring	  	 	7	 
	 4.3
	 	Reimbursement for Unknown Liabilities	  	 	7	 
	 4.4
	 	Governmental Approvals	  	 	8	 
	 4.5
	 	The Partnership	  	 	8	 
	 4.6
	 	Public Announcements	  	 	8	 
	 4.7
	 	Further Assurances	  	 	9	 
		
	 ARTICLE 5 CONDITIONS TO CLOSING
	  	 	9	 
	 5.1
	 	Conditions to Closing	  	 	9	 
	 5.2
	 	Conditions to Obligations of Overstock	  	 	9	 
	 5.3
	 	Conditions to Obligations of Pelion	  	 	10	 
		
	 ARTICLE 6 GUARANTEE
	  	 	10	 
	 6.1
	 	Guarantee	  	 	10	 
	 6.2
	 	Nature of Guarantee	  	 	10	 
	 6.3
	 	Termination of Guarantee	  	 	11	 
		
	 ARTICLE 7 MISCELLANEOUS
	  	 	11	 
	 7.1
	 	Termination	  	 	11	 
	 7.2
	 	Notices	  	 	11	 
	 7.3
	 	Headings	  	 	13	 
	 7.4
	 	Waiver	  	 	13	 
	 7.5
	 	Severability	  	 	13	 
	 7.6
	 	Expenses	  	 	13	 
	 7.7
	 	Rules of Construction	  	 	13	 
	 7.8
	 	Governing Law	  	 	14	 
	 7.9
	 	Further Assurances	  	 	14	 
	 7.10
	 	Entire Agreement; Amendments	  	 	14	 
	 7.11
	 	Assignment; Successors and Assigns	  	 	14	 
	 7.12
	 	Submission to Jurisdiction	  	 	14	 
	 7.13
	 	Third Party Beneficiaries	  	 	14	 
	 7.14
	 	Counterparts	  	 	14	 

  
 i 

 Schedules and Exhibits 

Schedules 
  

			
	Schedule 1.1	  	Defined Terms
	Schedule 3.1(c)(i)	  	Options and Warrants
	Schedule 3.1(d)	  	Retained Assets
	Schedule 4.2	  	Medici Restructuring

 Exhibits 
  

			
	Exhibit A	  	Form of Certificate of Conversion from a Corporation to a Limited Partnership
	Exhibit B	  	Form of Certificate of Limited Partnership
	Exhibit C	  	Form of Limited Partnership Agreement of Medici Ventures, L.P.
	Exhibit D	  	Form of Stockholder Consent
	Exhibit E	  	Form of General Partner Consent
	Exhibit F	  	Accredited Investor Questionnaire

  
 ii 

 TRANSACTION AGREEMENT 

This Transaction Agreement (this “Agreement”) is effective as of January 25, 2021 (the “Effective
Date”), among Overstock.com, Inc., a Delaware corporation (“Overstock”), Medici Ventures, Inc., a Delaware corporation (“Medici”), Pelion MV GP, L.L.C., a Delaware limited liability
company (“Pelion”) and Pelion, Inc. a Utah corporation, (the “Guarantor”). Each party to this Agreement shall be referred to separately as “Party” or collectively as
“Parties.” 
 RECITALS 

WHEREAS, the Parties intend to convert Medici to a Delaware limited partnership by filing a Certificate of Conversion from a
Corporation to a Limited Partnership, in the form attached as Exhibit A hereto (the “Certificate of Conversion”) and a Certificate of Limited Partnership, in the form attached as
Exhibit B hereto (the “Certificate of Limited Partnership”), with the Secretary of State of the State of Delaware; 

WHEREAS, the Parties desire to create a new venture, operated through Medici after conversion to a limited partnership, for the purpose
of acting as a venture capital fund, providing the limited partners with the opportunity to realize significant long-term capital appreciation, and managing and developing Medici’s investments in entities that are developing blockchain
technologies (the “Partnership”); 
 WHEREAS, the Partnership will be governed by a limited partnership
agreement by and among the stockholders of Medici, as Limited Partner(s), and Pelion, as General Partner, to be executed on the Closing Date in the form attached as Exhibit C hereto (the “Limited Partnership
Agreement”), pursuant to which Pelion will become the General Partner and the stockholders of Medici will become Limited Partner(s) of the Partnership; 

WHEREAS, in order to effectuate the Partnership, the Parties desire to enter into this Agreement and the Limited Partnership Agreement
(this Agreement and the Limited Partnership Agreement together with the Certificate of Conversion and Certificate of Limited Partnership, the “Governing Documents”) and to negotiate in good faith and enter into or cause their
Affiliates to enter into any additional documentation related thereto; and 
 WHEREAS, in furtherance of the foregoing, immediately
after the execution and delivery of this Agreement, Overstock will deliver a written consent as the sole stockholder of Medici to approve the Conversion and Limited Partnership Agreement pursuant to Section 266 of the General Corporation Law of
the State of Delaware (the “General Corporation Law”) and Section 17-217(h) of the Delaware Revised Uniform Limited Partnership Act (the “Act”), in the form
attached hereto as Exhibit D (the “Stockholder Consent”) and Pelion will deliver a written consent as General Partner to approve the Conversion and Limited Partnership Agreement pursuant to Section 17-217(h) of the Act, in the form attached hereto as Exhibit E (the “General Partner Consent”). 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein below, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, agree as follows: 

 ARTICLE 1 

DEFINITIONS AND INTERPRETATION 

1.1 Definitions. Capitalized terms used in this Agreement shall have the meanings specified herein or in
Schedule 1.1. 
 1.2 Interpretation. In interpreting this Agreement, except as otherwise indicated in this
Agreement or as the context may otherwise require, (a) the words “include,” “includes,” and “including” are deemed to be followed by “without limitation” whether or not they are in fact followed by those
words or words of similar import, (b) the words “hereof,” “herein,” “hereunder,” and comparable terms refer to the entirety of this Agreement, including the Schedules and Exhibits, and not to any particular
Article, Section, or other subdivision of this Agreement or Exhibit to this Agreement, (c) any pronoun shall include the corresponding masculine, feminine, and neuter forms, (d) the singular includes the plural and vice versa,
(e) references to any agreement (including any Governing Document) or other document are to the agreement or document as amended, modified, supplemented, and restated now or from time to time in the future, (f) references to any Law are to
it as amended, modified, supplemented, and restated now or from time to time in the future, and to any corresponding provisions of successor Laws, (g) except as otherwise expressly provided in this Agreement, references to an
“Article,” “Section,” “preamble,” “recital,” or another subdivision, or to an “Exhibit,” are to an Article, Section, preamble, recital or subdivision of this Agreement, or to an “Exhibit”
to this Agreement, (h) references to any Person include the Person’s respective successors and permitted assigns, (i) references to a “day” or number of “days” (without the explicit qualification of
“Business”) refer to a calendar day or number of calendar days, (j) if any action or notice is to be taken or given on or by a particular calendar day, and the calendar day is not a Business Day, then the action or notice may be taken
or given on the next succeeding Business Day, (k) any financial or accounting terms that are not otherwise defined herein shall have the meanings given under GAAP, (l) the term “or” is used in its inclusive sense
(“and/or”) and (m) references to dollars and “$” mean United States dollars. 
 1.3 Coordination with Schedules
and Exhibits. Notwithstanding Section 1.2(g), except as otherwise expressly provided in a Schedule or Exhibit, references in the Schedule or Exhibit to an “Article,” or “Section” or
another subdivision, are to an “Article,” “Section” or subdivision of the Schedule or Exhibit. Except as otherwise provided in a Schedule or Exhibit, capitalized terms used in the Schedule or Exhibit that are
not defined in the Schedule or Exhibit shall have the meanings given to them in this Agreement. 
 ARTICLE 2 

THE CONVERSION 
 2.1
Conversion. At the Closing, Medici shall convert to a limited partnership pursuant to and in accordance with the General Corporation Law and the Act (the “Conversion”), and the Parties hereto shall enter into the
Limited Partnership Agreement. 
 2.2 Closing. Subject to the terms and conditions of this Agreement, the consummation of the
Conversion (the “Closing”) will take place at 10:00 a.m., Mountain Time, remotely via the electronic exchange of documents and signatures, (a) on the date that is three (3) Business Days after the satisfaction
or waiver (subject to applicable Law) of the latest to occur of the conditions set forth in Article 5 (other than those conditions that by their nature can only be satisfied at the Closing, but subject to the satisfaction
or waiver thereof by the Party whose obligations are subject to the satisfaction of such conditions) or (b) at such other date, time or place as is agreed to in writing by the Parties. The date on which the Closing occurs is referred to in this
Agreement as the “Closing Date.” 

  
 2 

 2.3 Closing Deliverables. At or prior to the Closing, the Parties shall deliver the
following: 
 (a) Overstock shall deliver: 

(i) to Medici and Pelion, a counterpart signature to the Limited Partnership Agreement, duly executed by Overstock; and a Subscription
Agreement (as defined in Section 8.7(b) of the Limited Partnership Agreement) completed and duly executed by Overstock, in a form reasonably acceptable to Pelion; 

(ii) to Pelion, the certificate described in Section 5.3(a); and 

(iii) a copy of the executed Stockholder Consent. 

(b) Medici shall deliver: 
 (i)
to Pelion, counterpart signatures to the Limited Partnership Agreement, duly executed by each of the existing stockholders of Medici other than Overstock; and Subscription Agreements (as defined in Section 8.7(b) of the Limited Partnership
Agreement) completed and duly executed by each of the existing stockholders of Medici other than Overstock, in forms reasonably acceptable to Pelion; and 

(ii) to Overstock and Pelion, the Certificate of Conversion, duly executed by an authorized Representative of Medici. 

(c) Pelion shall deliver: 
 (i)
to Medici, the Certificate of Limited Partnership, duly executed by an authorized Representative of Pelion, as the General Partner; a counterpart signature to the Limited Partnership Agreement, duly executed by Pelion; counterpart signatures to the
Subscription Agreements completed by each of the stockholders of Medici, duly executed by Pelion; a copy of the General Partner Consent, duly executed by Pelion; and a completed and duly executed Accredited Investor Questionnaire described in
Section 3.2(d)(i); and 
 (ii) to Overstock and Medici, the certificate described in
Section 5.2(a). 
 2.4 Closing Cash. 

(a) Any Cash of Medici as of the Closing (“Closing Cash Balance”) shall be deemed to have been contributed by Overstock
in satisfaction of its capital commitment to the Partnership under the Limited Partnership Agreement. 
 (b) At least five (5) Business
Days prior to the Closing Date, Overstock shall prepare, or shall cause to be prepared, and deliver to Pelion a statement setting forth a good-faith estimate of any (i) Cash of Medici, determined as of the Closing Date, based on Medici’s
books and records and other information available at the Closing, and calculated on a basis consistent with the accounting principles, practices, assumptions, conventions and policies used in connection with this Agreement (the “Estimated
Cash”). Prior to the Closing, the Parties shall seek to resolve any differences that they may have with respect to the computation of the Estimated Cash; provided, that if the Parties are unable to resolve all such differences prior to
the Closing, the application of the Closing Cash Balance to future contributions required by Overstock shall be deferred until such differences are resolved to the satisfaction of the Parties. 

  
 3 

 (c) If within two (2) years after the Closing Date the Parties have not agreed to the
amount of any Closing Cash, Pelion shall on the second anniversary pay to Overstock any undisputed amount of Closing Cash. 

ARTICLE 3 

REPRESENTATIONS AND WARRANTIES 

3.1 Representations and Warranties of Overstock. Overstock represents and warrants to Pelion that as of the Effective Date and
the Closing Date: 
 (a) Due Organization and Authorization. Each of Overstock and Medici (i) is duly organized, validly existing
and in good standing under the Laws of the State of Delaware, with full power and authority to own, lease and operate the assets held or used by each to conduct its business as currently conducted, (ii) has the power and authority to enter into
this Agreement and the Governing Documents to which it is a party and to carry out its obligations hereunder and thereunder, (iii) has duly authorized, by all necessary corporate action, the execution and delivery of this Agreement, the
Governing Documents to which they are party, and the consummation of the Conversion (other than the execution and delivery of the Stockholder Consent, which will be executed and delivered by Overstock immediately following the execution and delivery
of this Agreement) and (iv) no other action on the part of Overstock or Medici is necessary to authorize the execution or delivery of this Agreement and the Governing Documents to which it is a party and, upon execution of the Stockholder
Consent, to consummate the Conversion, except, in each case of clauses (i) through (iv), where the failure to be so organized, qualified or in good standing, or to have such power or authority, would not, individually or in the aggregate, be
reasonably likely to have a Material Adverse Effect. This Agreement has been duly executed and delivered by Overstock or Medici, as applicable, and constitutes a legal, valid and binding obligation of Overstock and Medici, as applicable, enforceable
against them in accordance with the terms set forth herein or therein except as enforceability may be limited by applicable bankruptcy and insolvency or similar Laws affecting creditors’ rights generally or general equity principles. 

(b) No Violation. Each of Overstock and Medici is not in violation or default of any term of its certificates of incorporation or
bylaws, each as amended, or of any provision of any mortgage, indenture, contract, agreement, instrument or contract to which it is party or by which it is bound or of any judgment, decree, order or writ other than any such violation or default that
would not have a Material Adverse Effect on Overstock or Medici, as applicable. The execution and performance of this Agreement and the Governing Documents and the Conversion will not, with or without the passage of time or giving of notice, result
in any such material violation, or be in conflict with or constitute a material default under any such term, or result in the creation of any material mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of Overstock or
Medici, as applicable, or the suspension, revocation, impairment, forfeiture or nonrenewal of any material Permit, license, authorization or approval applicable to Overstock or Medici, as applicable, its business or operations or any of its assets
or properties. 

  
 4 

 (c) Capitalization. 

(i) The authorized capital stock of Medici consists of 1,500,000 shares of common stock, par value $0.01 per share (the “Common
Stock”), of which 900,000 shares are issued and outstanding and none are held in treasury as of the date of this Agreement. Except as set forth in this Transaction Agreement, Medici does not have any commitment to authorize, issue or
sell any shares of Common Stock or other equity interests, and there are no shares of Common Stock authorized or reserved for issuance, except as may be required in connection with the options or warrants as set forth on
Schedule 3.1(c)(i) and the Restructuring as set forth on Schedule 4.2. None of Medici’s issued and outstanding shares of Common Stock have been issued in violation of any preemptive rights. No
bonds, debentures, notes or other indebtedness having the right to vote on any matters on which the holders of Common Stock may vote have been issued by Medici and are outstanding. 

(ii) As of the Closing Date, Overstock owns at least 95%, of the issued and outstanding Common Stock, and has good and marketable title to all
the Common Stock, free and clear of any and all Liens other than Permitted Liens. Overstock is not a party to any stockholders’ agreement, voting trust, proxy or other agreement or understanding with respect to the voting of any capital stock
of Medici. 
 (d) Medici Assets. As of the Closing Date, Medici has good, valid, and marketable title to all of the assets listed on
Schedule 3.1(d) the (“Retained Assets”), free and clear of any and all Liens other than Permitted Liens. 

(e) Certain Matters Relating to Overstock. Overstock hereby makes the representations and warranties set forth in paragraphs
8.6(a)(iv), (v) and (vi) of the Limited Partnership Agreement as of the Closing. These representations are subject to any exceptions set forth in the disclosure schedules to the Limited Partnership Agreement. 

(f) No Brokers. No broker, finder, financial advisor or other Person is entitled to any broker’s, finder’s, financial
advisor’s or similar fee or commission in connection with the transactions contemplated by this Agreement based upon agreements made by or on behalf of Overstock or its Subsidiaries or Affiliates, except those for which Overstock will be solely
responsible. 
 (g) Limitation of Overstock Representations and Warranties. Notwithstanding anything contained in this Agreement to
the contrary, Pelion acknowledges and agrees that Overstock and Medici are not making any representations or warranties whatsoever, express or implied, beyond those expressly given by Overstock and Medici in this
Section 3.1 (as modified by the schedules hereto), and Pelion acknowledges and agrees that, except for the representations and warranties contained herein, the Retained Assets are being transferred on an “AS
IS” basis and no other information that they have been provided by any Person should be relied upon in any manner. Any claims Pelion may have for breach of representation or warranty shall be based solely on the representations and
warranties of Overstock and Medici set forth in this Section 3.1 (as modified by the schedules hereto). Pelion further represents that neither Overstock nor any of its Subsidiaries or Affiliates nor any other Person has
made any representation or warranty, express or implied, as to the accuracy or completeness of any information regarding Overstock, Medici or the Retained Assets not expressly set forth in this Agreement or the Governing Documents, and none of
Overstock, any of its Subsidiaries or Affiliates or any other Person will have or be subject to any liability to Pelion or any other Person resulting from the distribution to Pelion or its Representatives or Pelion’s use of any such
information. 
 3.2 Representations and Warranties of Pelion. Pelion represents and warrants to Overstock and Medici that with
respect to Pelion and its Affiliates, as applicable, as of the Effective Date: 
 (a) Due Organization and Authorization. Pelion
(i) is duly organized, validly existing and in good standing under the Laws of the State of Delaware, with full power and authority to own, lease and operate the assets held or used to conduct its business as currently conducted, (ii) has
the power and authority to enter into this Agreement and the Governing Documents to which it is a party and to carry 

  
 5 

 
out its obligations hereunder and thereunder, (iii) has duly authorized, by all necessary corporate action, the execution and delivery of this Agreement, the Governing Documents to which it
is party, and the consummation of the Conversion, and (iv) no other action on the part of Pelion is necessary to authorize the execution or delivery of this Agreement and the Governing Documents to which it is a party and, upon execution of the
General Partner Consent, to consummate the Conversion, except, in each case of clauses (i) through (iv), where the failure to be so organized, qualified or in good standing, or to have such power or authority, would not, individually or in the
aggregate, reasonably be likely to materially impede or prevent the consummation of the Conversion or materially impair the ability of Pelion to perform its obligations hereunder. This Agreement has been duly executed and delivered by Pelion and
constitutes a legal, valid and binding obligation of Pelion or its Subsidiaries, as applicable, enforceable against them in accordance with the terms set forth herein or therein except as enforceability may be limited by applicable bankruptcy and
insolvency or similar Laws affecting creditors’ rights generally or general equity principles. 
 (b) No Violation. Pelion is not
in violation or default of any term of its charter documents, each as amended, or of any provision of any mortgage, indenture, contract, agreement, instrument or contract to which it is party or by which it is bound or of any judgment, decree, order
or writ other than any such violation or default that would not have a Material Adverse Effect on Pelion. The execution and performance of this Agreement and the Governing Documents and the Conversion will not, with or without the passage of time or
giving of notice, result in any such material violation, or be in conflict with or constitute a material default under any such term, or result in the creation of any material mortgage, pledge, lien, encumbrance or charge upon any of the properties
or assets of Pelion or the suspension, revocation, impairment, forfeiture or nonrenewal of any material Permit, license, authorization or approval applicable to Pelion, its business or operations or any of its assets or properties. 

(c) Available Funds. Pelion shall have sufficient capital commitments from investors to pay all amounts payable by it in respect of its
“Capital Commitment” under the Limited Partnership Agreement. 
 (d) Certain Matters Relating to Pelion. 

(i) Pelion is an “accredited investor” as defined by Rule 501 under the Securities Act of 1933, as amended. Pelion has, immediately
prior to the Closing, completed and delivered the Accredited Investor Questionnaire to Overstock, a copy of which is attached hereto as Exhibit F, and the information about Pelion set forth in the Accredited Investor
Questionnaire is accurate and complete, and Pelion’s address set forth on the Accredited Investor Questionnaire is its principal business address. Pelion is sophisticated, knowledgeable and experienced in financial and business matters, and is
capable of evaluating the merits and risks of entering into the transactions contemplated by this Agreement. 
 (ii) Pelion acknowledges
that Pelion has had the opportunity to ask questions of, and receive answers from, Overstock, Medici or any authorized person acting on behalf of Overstock or Medici concerning Medici’s business and to obtain any additional information, to the
extent possessed by Medici (or to the extent it could have been acquired by Medici without unreasonable effort or expense) necessary to verify the accuracy of the information received by Medici. In connection therewith, Pelion acknowledges that
Pelion has had the opportunity to discuss Medici’s business and financial affairs with Medici’s management or any authorized person acting on its behalf. Pelion has received and reviewed all the information concerning Medici and its
business, assets, financial affairs, prospects and risks, both written and oral, that Pelion desires. In determining whether to enter into this Agreement, Medici has relied solely on (x) Pelion’s own knowledge and understanding of
Medici’s business based upon Pelion’s own due diligence investigations and the information furnished pursuant to this paragraph, (y) the information described in subparagraph (d)(iii) below and (z) the representations and
warranties of Overstock and Medici made to Pelion in this Agreement. 

  
 6 

 (iii) With the assistance of Pelion’s own professional advisors, to the extent that
Pelion has deemed appropriate, Pelion has made its own legal, tax, accounting and financial evaluation of the merits and risks of this Agreement and the consequences of the Conversion. Pelion has considered the suitability of the Conversion in light
of its own circumstances and financial condition and Pelion is able to bear the risks associated with the Conversion and to perform its duties and obligations under the Governing Documents. 

(e) No Brokers. No broker, finder, financial advisor or other Person is entitled to any broker’s, finder’s, financial
advisor’s or similar fee or commission in connection with the transactions contemplated by this Agreement based upon agreements made by or on behalf of Pelion and its Affiliates, except those for which Pelion will be solely responsible. 

(f) Limitation of Pelion Representations and Warranties. Notwithstanding anything contained in this Agreement to the contrary, Overstock
acknowledges and agrees that Pelion is not making any representations or warranties whatsoever, express or implied, beyond those expressly given by Pelion in this Section 3.2. Any claims Overstock may have for breach of
representation or warranty shall be based solely on the representations and warranties of Pelion set forth in this Section 3.2. Overstock further represents that neither Pelion nor any of its Affiliates nor any other Person
has made any representation or warranty, express or implied, as to the accuracy or completeness of any information regarding Pelion not expressly set forth in this Agreement or the Governing Documents, and none of Pelion, any of its Affiliates or
any other Person will have or be subject to any liability to Overstock or any other Person resulting from the distribution to Overstock or its Representatives or Overstock’s use of any such information. 

ARTICLE 4 
 OTHER
AGREEMENTS 
 4.1 Conduct of the Business. Except (i) as required by applicable Law, (ii) for actions taken or not
taken as were reasonably necessary to respond to service disruptions caused by COVID-19 or any COVID-19 Measures in response to
COVID-19 or (iii) as otherwise contemplated by this Agreement (including the Restructuring), Overstock covenants and agrees as to itself and Medici, prior to Closing, unless Pelion otherwise provides its
written consent in advance (which consent shall not be unreasonably withheld, conditioned or delayed), that Medici shall use its commercially reasonable efforts to conduct and operate its businesses in the ordinary course of business, consistent
with past practice. 
 4.2 Medici Restructuring. As promptly as practicable following the Effective Date and in any event prior to
Closing, Overstock and Medici shall use commercially reasonable efforts to take the actions set forth on Schedule 4.2 (the “Restructuring”). 

4.3 Reimbursement for Unknown Liabilities. From the Closing until the first anniversary thereof, Overstock shall reimburse Pelion for
1.0% of the amount of any indebtedness or other similar liability of Medici solely relating to the period prior to the Conversion that was not satisfied, repaid or discharged by Medici prior to the Closing (an “Unknown Liability”).
The cumulative obligation of Overstock to reimburse Pelion for Unknown Liabilities hereunder shall in no event exceed $450,000.00. In the event that Pelion seeks to claim reimbursement for any Unknown Liability, it shall promptly provide Overstock
with written notice of such claim, describing in reasonable detail the amount of reimbursement sought thereby, the reasons therefor, and supplying evidence thereof. 

  
 7 

 4.4 Governmental Approvals. 

(a) After the Effective Date, each of the Parties agrees to use its commercially reasonable efforts to identify any material approval,
application, notification or other document that may be necessary in order to obtain the authorization, approval, Permit or consent of any Governmental Authority, which may be reasonably required in connection with the consummation of the Conversion
and the admittance of Pelion as General Partner of the Partnership (each, a “Governmental Approval”). Subject to the limitations set forth in this Section 4.4, each of the Parties agrees to use its
commercially reasonable efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary, proper or advisable to obtain the Governmental Approvals as promptly as practicable, including promptly agreeing to take
and taking any other commercially reasonable actions required by any Governmental Authority with respect to any Governmental Approval to the extent necessary to consummate the Conversion as promptly as practicable, including promptly complying with
or asking for modification of any request for information by any Governmental Authority. Pelion shall, upon request of the other Parties, promptly furnish such Parties with all information concerning itself, its affiliates, directors, officers and
such other matters as may be reasonably necessary, proper, desirable or advisable in connection with any filing, notice or application made by or on behalf of such other Party or any of its Subsidiaries or Affiliates with or to any Governmental
Authority in connection with the Conversion and to respond to any communications received in connection therewith. 
 (b) Each Party shall
promptly inform the other parties hereto of any material communication between such Party and any Governmental Authority regarding the transactions contemplated by this Agreement. If any of the Parties or any of their respective Subsidiaries or
Affiliates receives any formal or informal request for supplemental information or documentary material from any Governmental Authority with respect to this Agreement, the relevant Party shall submit, or cause to be submitted, as soon as reasonably
practicable, a response in compliance with such request. The Party receiving such communication or request shall direct, in its sole discretion, the making of such response, but shall consider in good faith the views of the other Parties. 

(c) The Parties shall not be required to share information required in connection with any regulatory approval process with the other Parties
if such sharing would (i) not be permitted under applicable Law, (ii) violate existing contractual obligations, or (iii) breach any attorney-client or other legal privilege. In any such case, such Party shall promptly provide such
information directly to any requesting Governmental Authority. 
 4.5 The Partnership. Subject to the terms and conditions of this
Agreement, (a) Medici shall, at the Closing, file the Certificate of Conversion, attached hereto as Exhibit A. with the Secretary of State of the State of Delaware, (b) Pelion shall, at the Closing, file the
Certificate of Limited Partnership, attached hereto as Exhibit B, with the Secretary of State of the State of Delaware, and (c) the Parties shall, as promptly as reasonably practicable following the Closing, make any
other necessary filings to amend the Partnership’s and its Subsidiaries’ Permits to account for the change in legal status of Medici and its new name. After the Conversion, the rights and liabilities of the Parties shall be as provided in
the Act, except as otherwise expressly provided in the Governing Documents. 
 4.6 Public Announcements. No Party nor any
Representative of the foregoing shall issue or cause the publication of any press release or other public announcement in respect of the Conversion without the prior review and written approval of Overstock (in the case of publications by Pelion) or
Pelion (in the case of publications by Overstock or Medici); provided, however, that the foregoing shall not prohibit such disclosure if required by Law, any Governmental Authority or, in the case of Overstock, by any recognized stock
exchange on which the equity interests of Overstock or any of its Affiliates are listed, in which case such Party shall use commercially reasonable efforts to provide the other Parties with a copy of the proposed disclosure not less than 48 hours
prior to its dissemination and to consider in good faith any comments of the other Parties prior to any such disclosure. This Section 4.6 applies only to the initial announcement of the Conversion and does not apply to
subsequent communications. 

  
 8 

 4.7 Further Assurances. Before, at and after the Closing, consistent with the terms
and conditions hereof, the Parties shall, and shall cause each of their respective Subsidiaries to, and shall use reasonable best efforts to cause their Affiliates to, promptly execute, acknowledge and deliver such instruments, certificates and
other documents and take such other action as a party may reasonably require in order to carry out the Conversion. Following the Closing, the Parties shall cooperate with one another to prepare and file all documents and forms and amendments thereto
as may be required by applicable Law with respect to the Conversion. 
 ARTICLE 5 

CONDITIONS TO CLOSING 

5.1 Conditions to Closing. The obligations of the Parties to consummate the transactions contemplated by this Agreement shall be
subject to the satisfaction or waiver by Overstock and Pelion (to the extent permitted by applicable Law), at or before the Closing, of each of the following conditions: 

(a) Government Approvals. All requisite material Governmental Approvals shall have been obtained and shall remain in full force and
effect, and all statutory waiting periods in respect thereof shall have terminated or expired. 
 (b) No Action. There shall not be
pending or threatened in writing by any Governmental Authority any Action and no Order shall have been, or shall have been threatened in writing to be, issued, promulgated, enforced or entered challenging or seeking to restrain, limit or prohibit
the Conversion. 
 (c) Restructuring. The Restructuring shall have been completed, as contemplated in
Section 4.2. 
 (d) Advisers Act Matters. 

(i) Overstock and/or Medici shall have provided sufficient documentation regarding the Retained Assets and the circumstances surrounding their
acquisition by Medici to confirm that, at the time of the Conversion, the Partnership will constitute a “venture capital fund” under Section 203(l) of the Investment Advisers Act of 1940, as amended. 

(ii) No written advice of legal counsel has been delivered that, if the Limited Partnership Agreement were then in effect, would result in a
Trigger Event, as defined in the Limited Partnership Agreement, being deemed to have occurred. 
 5.2 Conditions to Obligations of
Overstock. The obligation of Overstock to consummate the Conversion shall be subject to the satisfaction or Overstock’s waiver in its sole discretion, at or before the Closing, of each of the following conditions: 

(a) Representations and Warranties. The representations and warranties set forth in Section 3.2 shall be true
and correct in all material respects. Overstock shall have received a certificate dated the Closing Date and signed on behalf of Pelion by a managing member of Pelion to such effect. 

(b) Closing Deliverables. Pelion shall have delivered, or have caused to be delivered, each of the items listed in
Section 2.3(c). 
 (c) Third Party Consents. Medici shall have received duly executed copies of all material
authorizations, approvals, consents, waivers or other certificates required by Law or contractual obligation with respect to any third party, including any issuer of securities of a Retained Asset. 

  
 9 

 5.3 Conditions to Obligations of Pelion. The obligation of Pelion to consummate the
Conversion shall be subject to the satisfaction or Pelion’s waiver in its sole discretion, at or before the Closing, of each of the following conditions: 

(a) Representations and Warranties. The representations and warranties made in Section 3.1 and paragraph
8.6(a) of the Limited Partnership Agreement shall be true and correct in all material respects. Pelion shall have received a certificate dated the Closing Date and signed on behalf of Overstock by an executive officer of Overstock to such effect.

 (b) Closing Deliverables. Overstock or Medici, as applicable, shall have delivered, or have caused to be delivered, each of the
items listed in Section 2.3(a) and Section 2.3(b), as applicable. 
 (c) Litigation,
Contingent Liabilities. All (i) actions, suits, proceedings or investigations commenced, or threatened in writing, against the Corporation or any of its subsidiaries between the Effective Date and the Closing and (ii) any contingent liabilities
of the Corporation, that would be required to be disclosed by Medici and its consolidated Subsidiaries in Medici’s financial statements prepared in accordance with GAAP, that remain unsatisfied as of the Closing (all of which shall be disclosed
to Pelion pursuant to Schedule C of the Limited Partnership Agreement) would not, individually or in the aggregate, be reasonably likely to have a Material Adverse Effect. 

ARTICLE 6 

GUARANTEE 
 6.1
Guarantee. Guarantor fully, completely, unconditionally and irrevocably agrees to perform, and to assume and take responsibility for in all respects as if a principal, all representations, warranties, covenants, agreements and other
obligations and liabilities of any nature or kind of Pelion arising under or relating to this Agreement, the agreements, instruments, and documents referred to herein and the transactions contemplated hereby and thereby (collectively, the
“Obligations”). The Guarantor hereby waives notice of the Obligations, and waives proof of reliance, diligence, presentment, demand for payment, protest, notice of dishonor or non-payment or non-performance of the Obligations, suit, and the taking of any other action against, and any other notice to, Pelion, the Guarantor or others. 

6.2 Nature of Guarantee. 

(a) The Obligations shall be construed as a continuing, absolute and unconditional guarantee to perform and satisfy and discharge the
Obligations without regard to any circumstance whatsoever (with or without notice to or knowledge of Pelion or the Guarantor) which might constitute an equitable or legal discharge of Pelion for the Obligations, or of the Guarantor under this
Agreement, in bankruptcy or in any other instance. 
 (b) Overstock may at any time and from time to time without notice to or consent of the
Guarantor and without impairing or releasing the obligations of the Guarantor: (i) agree with Pelion to make any change in the terms of the Obligations; (ii) take or fail to take any action of any kind in respect of any security for any
obligation or liability of Pelion to Overstock; or (iii) exercise or refrain from exercising any rights against Pelion or others in respect of the Obligations. Any other suretyship defenses are hereby waived by the Guarantor. 

(c) The Guarantor will not exercise any rights which it may acquire hereunder by way of subrogation until all Obligations to Overstock shall
have been paid or performed in full. 
 6.3 Termination of Guarantee. The guarantee provided in this Article 6 shall terminate at
Closing, except for Obligations related to the representations and warranties of Pelion set forth in Section 3.2, which Obligations shall terminate on the date that is two (2) years after the Closing Date. 

  
 10 

 ARTICLE 7 

MISCELLANEOUS 
 7.1
Termination. This Agreement may be terminated and the transactions contemplated hereby abandoned at any time prior to the Closing: 

(a) by mutual written agreement of Overstock and Pelion; 

(b) by Overstock or Pelion if the Closing Date shall not have occurred by the first anniversary of the date hereof (the “End
Date”); provided, however, that the right to terminate this Agreement under this Section 7.1(b) shall not be available to any Party whose action or failure to act has been a principal cause of or
resulted in the failure of the transaction contemplated hereby to occur on or before such date and such action or failure to act constitutes breach of this Agreement; or 

(c) by Overstock or Pelion if any Law or Order shall be in effect which has the effect of making the transactions contemplated hereby illegal
or otherwise prohibits consummation thereof. 
 7.2 Notices. 

(a) All notices, requests, demands and other communications that are required or may be given pursuant to the terms of this Agreement shall be
in writing and shall be deemed delivered (i) on the date of delivery when delivered by hand on a Business Day during normal business hours or, if delivered on a day that is not a Business Day or after normal business hours, then on the next
Business Day, (ii) on the date of transmission when sent by facsimile transmission or email transmission during normal business hours on a Business Day with telephone or email confirmation of receipt or, if transmitted on a day that is not a
Business Day or after normal business hours, then on the next Business Day if telephone or email confirmation is received, (iii) on the second Business Day after the date of dispatch when sent by a reputable overnight courier service that
maintains records of receipt or (iv) five (5) Business Days after the date of dispatch when sent by first-class letter; provided, however, that, in any such case, such communication is addressed as provided in
Section 7.2(b). 
 (b) All notices, requests, demands and other communications that are required or may be given
pursuant to the terms of this Agreement shall be addressed as follows: 
 if to Overstock, to: 

Overstock.com, Inc. 
 799 W.
Coliseum Way 
 Midvale, UT 84047 

Attn: General Counsel 
 Phone:
801.947.3100 
 Email: gnickle@overstock.com 

  
 11 

 with a copy, which shall not constitute notice, to: 

Sullivan & Cromwell LLP 

125 Broad Street 
 New York, NY
10004 
 Attn: C. Andrew Gerlach 

Telephone: 212.558.4000 

Facsimile: 212.291.9299 
 Email:
gerlacha@sullcrom.com 
 or to such other address as Overstock may designate in a written notice to the other Parties; 

if to Medici, to: 
 Medici
Ventures, Inc. 
 799 W. Coliseum Way 

Midvale, UT 84047 
 Attn: General
Counsel 
 Phone: 801.947.3134 

Email: stantonhuntington@overstock.com 

or to such other address as Medici may designate in a written notice to the Parties. 

if to Pelion, to: 
 2750 E.
Cottonwood Parkway, Suite 600 
 Salt Lake City, UT 84121 

Attn: Matthew Mosman 
 Telephone:
(650) 520-1690 
 Facsimile: (801) 365-0233 

Email: matt@pelionvp.com 
 with
copies, which shall not constitute notice, to: 
 Cooley LLP 

3175 Hanover Street 
 Palo Alto,
CA 94304-1130 
 Attn: Casey M. Schulte 

Telephone: (650) 843-5162 

Facsimile: (650) 849-7400 

Email: cschulte@cooley.com 

  
 12 

 or to such other address as Pelion may designate in a written notice to the other Parties; and 

if to Guarantor, to: 
 2750 E.
Cottonwood Parkway, Suite 600 
 Salt Lake City, UT 84121 

Attn: Matthew Mosman 
 Telephone:
(650) 520-1690 
 Facsimile: (801) 365-0233 

Email: matt@pelionvp.com 
 or to such other
address as Guarantor may designate in a written notice to the other Parties. 
 7.3 Headings. The subject headings of the Articles,
Sections and subsections of this Agreement and the Schedules and Exhibits to this Agreement are included for purposes of convenience only, and shall not affect the construction or interpretation of any of their provisions. 

7.4 Waiver. The failure or delay of a Party to enforce or to exercise, at any time for any period of time, any provisions hereof or any
right or remedy hereunder shall not be construed as a waiver of such provision or right or remedy or of the right of such Party thereafter to enforce or exercise the same; provided, however, that such right or remedy is not time-barred
or otherwise precluded by Law or by a writing expressly waiving such right or remedy and signed by that Party seeking to assert such right or remedy. The written waiver by any Party of a breach of any term or provision of this Agreement by another
Party shall not be construed as a waiver of any subsequent breach. 
 7.5 Severability. When possible, each provision of this
Agreement shall be interpreted in such manner as to be effective and valid under applicable Law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable Law, such provision shall be ineffective only to the
extent of such prohibition or invalidity, without invalidating the remainder of this Agreement. The parties shall make a good faith effort to replace the invalid or unenforceable provision with a valid one that conforms as nearly as possible to the
original intent of the parties. 
 7.6 Expenses. All fees and expenses incurred by the Parties in connection with the negotiation,
preparation and execution of this Agreement and the Conversion, including all legal, accounting, financial, advisory, consulting and all other fees and expenses of third parties incurred by a Party in connection with the negotiation and effectuation
of the terms and conditions of this Agreement, the Governing Documents and the Conversion shall be the obligation of such Party incurring such fees and expenses, provided, however that any such expenses incurred by Pelion shall be deemed to
be organizational costs pursuant to paragraph 6.3(c) of the Limited Partnerships Agreement, subject to the limitations thereof. 
 7.7
Rules of Construction. Each Party acknowledges that it has been represented by counsel during the negotiation, preparation and execution of this Agreement and such negotiations were conducted on an
arm’s-length basis. Each Party therefore hereby waives the application of any Law or rule of construction providing that ambiguities in an agreement or other document shall be construed against the
drafter of the agreement or document. 
 7.8 Governing Law. This Agreement, and the rights and liabilities of the Parties under this
Agreement, shall be governed by and interpreted in accordance with the Laws of the State of Delaware, except for its rules as to conflicts of Laws that would apply the Laws of another jurisdiction. 

7.9 Further Assurances. Each Party agrees to take from time to time such actions and execute such additional instruments as may be
reasonably necessary to implement and carry out the terms of this Agreement, including negotiating in good faith any additional agreements or amendments to the Governing Documents. 

  
 13 

 7.10 Entire Agreement; Amendments. This Agreement, taken together with the Governing
Documents, collectively represents the entire understanding and agreement among the Parties with respect to the subject matter of the Conversion. The provisions of this Agreement shall be construed within the four corners of this Agreement;
provided, however, that reasonable efforts shall be made to interpret and give full force and effect to the provisions of this Agreement in a manner that is not inconsistent with the interpretation given to the relevant provisions of
this Agreement and the Governing Documents and that gives full force and effect to all relevant provisions of the foregoing documents in their entirety. No modification or amendment of any provision of this Agreement shall be valid or effective
unless made in writing and signed by a duly authorized officer of each Party. 
 7.11 Assignment; Successors and Assigns. No Party
shall have the right to assign this Agreement or any of its rights or delegate or otherwise transfer its obligations hereunder to any Person without the prior written consent of the other Party; provided, however, that a Party may
assign its rights and delegate its obligations hereunder without such consent to an Affiliate of such Party if the assigning Party agrees in writing to guarantee and remain ultimately responsible for the performance by such Affiliate of its
obligations hereunder, provided, further, that in the case of Overstock, a merger or similar business combination transaction involving Overstock shall not constitute an assignment, delegation or transfer under this
Section 7.11. This Agreement shall inure to the benefit of the permitted successors and permitted assigns of the Parties, and shall be binding upon the successors and assigns of the Parties. Any purported assignment or
delegation of this Agreement or any rights and obligations hereunder not in compliance with the terms hereof shall be null and void. 
 7.12
Submission to Jurisdiction. Each of the Parties (a) consents to submit itself to the exclusive personal jurisdiction of the Court of Chancery of the State of Delaware (or, if such court does not have jurisdiction, a state or federal
court sitting in Delaware) in any action, suit or proceeding arising out of or relating to this Agreement or the Conversion, (b) agrees that all claims in respect of such action, suit or proceeding may be heard and determined in any such court,
(c) agrees that it shall not attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court, and (d) agrees not to bring any action, suit or proceeding arising out of or relating to this
Agreement or the Conversion in any other court. Each of the Parties waives any defense of inconvenient forum to the maintenance of any action, suit or proceeding so brought and waives any bond, surety or other security that might be required of any
other party with respect thereto. Any Party may make service on another Party by sending or delivering a copy of the process to the Party to be served at the address and in the manner provided for the giving of notices in
Section 7.2. Nothing in this Section 7.12, however, shall affect the right of any Party to serve legal process in any other manner permitted by law. 

7.13 Third Party Beneficiaries. Except as expressly stated herein, all rights, benefits and remedies under this Agreement are solely
intended for the benefit of each of the Parties and their permitted assigns, and no third party shall have any rights whatsoever to: (i) enforce any obligation contained in this Agreement; (ii) seek a benefit or remedy for any breach of
this Agreement; or (iii) take any other action relating to this Agreement under any legal theory, including actions in contract, tort (including negligence, gross negligence and strict liability), or as a defense, setoff or counterclaim to any
action or claim brought or made by the Parties. 
 7.14 Counterparts. This Agreement may be executed in several counterparts, each of
which shall be deemed an original, but all of which shall constitute one and the same instrument. Facsimiles, e-mail transmission of .pdf signatures or other electronic copies of signatures shall be deemed to
be originals. 
 [Signature Pages Follow] 

  
 14 

 IN WITNESS WHEREOF, this Agreement has been executed on behalf of each of the Parties hereto
as of the date first written above. 
  

			
	OVERSTOCK.COM, INC.
		
	By:	 	 /s/ Jonathan E. Johnson

		 	 Name:  Jonathan E. Johnson III

		 	 Title:   Chief Executive Officer

	
	MEDICI VENTURES, INC.
		
	By:	 	 /s/ Jonathan E. Johnson

		 	 Name:  Jonathan E. Johnson III

		 	 Title:   President

  
  
  

 
  
  

 
  
  

 
 [Signature Page to Transaction Agreement] 

 IN WITNESS WHEREOF, this Agreement has been executed on behalf of each of the Parties hereto
as of the date first written above. 
  

			
	PELION MV GP, L.L.C.
		
	By:	 	 /s/ Blake G. Modersitzki

		 	 Name:  Blake G. Modersitzki

		 	 Title:   Managing Member

	
	PELION, INC.
		
	By:	 	 /s/ Blake G. Modersitzki

		 	 Name:  Blake G. Modersitzki

		 	 Title:   President

  
  
  

 
  
  

 
  
  

 
 [Signature Page to Transaction Agreement] 

 Schedule 1.1 

Defined Terms 
 As used in
the Agreement, capitalized terms have the following meanings given: 
 “Act” has the meaning set forth in the
Recitals. 
 “Action” means any action, cause of action, claim, arbitration, investigation, formal request for
information, charge, complaint, hearing, proceeding, litigation or suit (whether civil, criminal, administrative or investigative), whether or not commenced, brought, conducted or heard by or before, investigated by or otherwise involving, any
Governmental Authority. 
 “Affiliate” means with respect to a Person, any other Person, corporation, partnership,
limited liability company, joint venture, or other form of business entity that directly or indirectly Controls, is Controlled by, or is under common Control with, that Person. With respect to the Parties, the term “Affiliate” excludes the
Partnership. 
 “Agreement” has the meaning set forth in the introductory paragraph. 

“Business Day” means any day on which federally chartered banks are generally open for business in New York, New York
and Salt Lake City, Utah. 
 “Cash” means all cash and cash equivalents. 

“Certificate of Conversion” has the meaning set forth in the Recitals. 

“Certificate of Limited Partnership” has the meaning set forth in the Recitals. 

“Closing” has the meaning set forth in Section 2.2. 

“Closing Date” has the meaning set forth in Section 2.2. 

“Common Stock” has the meaning set forth in Section 3.1(c)(i). 

“Control” means (a) when used as a verb, (i) with respect to an entity, the ability, directly or indirectly
through one or more intermediaries, to direct or cause the direction of the management and policies of the entity through the legal or beneficial ownership of voting securities or the right to appoint managers, directors or corporate management, or
by contract, operating agreement, voting trust or otherwise, and (ii) with respect to a natural Person, the actual or legal ability to control the actions of another, through family relationship, agency, contract or otherwise, and (b) when
used as a noun, an interest that gives the holder the ability to exercise any of the powers described in clause (a) of this definition. 

“Conversion” has the meaning set forth in Section 2.1. 

“COVID-19” means SARS-CoV-2 or COVID-19, and any evolutions or mutations thereof or related or associated epidemics, pandemics or disease outbreaks. 

“COVID-19 Measures” means any quarantine, “shelter in place,”
“stay at home,” social distancing, shut down, closure, sequester, safety or similar Law, directive or guideline promulgated by any Governmental Authority, including the Centers for Disease Control and Prevention and the World Health
Organization. 

  
 Sch 1.1 - 1 

 “Effective Date” has the meaning set forth in the introductory
paragraph. 
 “GAAP” means U.S. generally accepted accounting principles as in effect on the date hereof. 

“General Corporation Law” has the meaning set forth in the Recitals. 

“General Partner Consent” has the meaning set forth in the Recitals. 

“Governing Documents” has the meaning set forth in the Recitals. 

“Governmental Approval” has the meaning set forth in Section 4.4(a). 

“Governmental Authority” means any domestic or foreign national, regional, state, or local court, governmental
department, commission, authority, central bank, board, bureau, agency, official, arbitrator, arbitration panel, self-regulatory authority or other instrumentality exercising executive, legislative, judicial, taxing, regulatory, or administrative
powers or functions of or pertaining to government. 
 “Known Liabilities” has the meaning set forth in
Schedule 4.2. 
 “Law” means all applicable federal, state, local, municipal, and foreign
laws (statutory or common), rules, ordinances, regulations, grants, concessions, franchises, licenses, orders, directives, judgments, decrees, and other governmental restrictions, including Permits and other similar requirements, whether
legislative, municipal, administrative or judicial in nature. 
 “Lien” means any charge, mortgage, deed of trust,
pledge, hypothecation, security interest, restriction, encumbrance, claim, lien or charge of any kind. 
 “Limited Partnership
Agreement” has the meaning set forth in the Recitals. 
 “Material Adverse Effect” means an event,
change, development, factor, transaction or condition that, individually or in the aggregate, (a) has had or could reasonably be expected to have a material adverse effect on the business, assets, liabilities, cash flows, operations, condition
(financial or otherwise), operating results or customer, supplier or financing relations of Medici or (b) has impeded or could reasonably be likely to materially impede or prevent the consummation of the Conversion or materially impair the
ability of a Party to perform its obligations hereunder; provided, that with respect to the preceding clause (a), no event, change, development, circumstance, fact or effect relating to or resulting from any of the following, either
individually or in the aggregate, shall be taken into account in determining whether a Material Adverse Effect has occurred or would reasonably be expected to occur: (i) global or national economic, monetary, financial or political conditions
or the securities, credit or financial markets, including prevailing interest rates or exchange rates; (ii) events, changes or developments generally affecting the industries in which Medici or any of its Subsidiaries operate;
(iii) changes in Law or regulation or the interpretation thereof by any Governmental Authorities after the date of this Agreement; (iv) any actions required to be taken or not taken by Overstock, Medici or any of its Subsidiaries or their
respective Representatives pursuant to this Agreement, (except for any obligation to operate in the ordinary course of business under Section 4.1) or any actions taken or not taken by the Overstock, Medici or any of its
Subsidiaries or their respective Representatives at Pelion’s written request 

  
 Sch 1.1 - 2 

 
(provided that, for the avoidance of doubt, the impact of any action, suit, proceeding or investigation arising as a consequence of any such actions, whether instituted by stockholders or
employees of Overstock or Medici, any Governmental Authority or otherwise, shall be taken into account in determining whether a Material Adverse Effect has occurred or would reasonably be expected to occur); (v) the commencement, occurrence,
continuation or escalation of any armed hostilities, war or acts of terrorism, any hurricane, tornado, flood, earthquake or other weather events, natural disasters, pandemics or epidemics (including COVID-19
and any variants/mutations thereof) or any COVID-19 Measures, acts of God or other comparable events; or (vi) changes in GAAP or other applicable accounting principles, or changes to the enforcement or
interpretation thereof by any Governmental Authority after the date of this Agreement; provided further that, with respect to clauses (i), (ii), (iii), (v) and (vi) of this definition, such events, changes, developments, circumstances,
facts or effects (as the case may be) shall be taken into account in determining whether a “Material Adverse Effect” has occurred or would reasonably be expected to occur if they disproportionately affect Overstock or Medici (but only the
incremental disproportionate effect will be taken into account). 
 “Medici” has the meaning set forth in the
introductory paragraph. 
 “Order” means any Law, order, writ, judgment, injunction, temporary restraining order,
decree, stipulation, determination, permit, license or award entered by or with any Governmental Authority. 

“Overstock” has the meaning set forth in the introductory paragraph. 

“Parties” has the meaning set forth in the introductory paragraph. 

“Partnership” has the meaning set forth in the Recitals. 

“Pelion” has the meaning set forth in the introductory paragraph. 

“Permit” means any permit, franchise, license, authorization, order, certificate, registration, variance, settlement,
compliance plan or other consent or approval granted by any Governmental Authority. 
 “Permitted Liens” means the
following Liens: (a) Liens for taxes, assessments or other governmental charges or levies that are not yet due or delinquent or that are being contested in good faith by appropriate proceedings and for which appropriate reserves have been
established in accordance with GAAP or that may thereafter be paid without penalty; (b) restrictions on transfer which arise under applicable securities laws; and (c) restrictions, requirements and limitations contained in or arising out
of the agreements and instruments relating to investments, including funding obligations, transfer restrictions, consent rights, preemptive rights, drag along rights, tag along rights, rights of first refusal and other similar restrictions,
requirements and limitations. 
 “Person” means a natural person, corporation, joint venture, partnership, limited
liability partnership, limited partnership, limited liability limited partnership, limited liability company, trust, estate, business trust, association, Governmental Authority or other entity. 

“Representative” or “Representatives” means, with respect to any Person,
such Person’s Affiliates, directors, managers, officers, employees, legal or financial advisors, agents or other representatives, or anyone acting on behalf of them or such Person. 

“Restructuring” has the meaning set forth in Section 4.2. 

  
 Sch 1.1 - 3 

 “Retained Assets” has the meaning set forth in
Section 3.1(d). 
 “Stockholder Consent” has the meaning set forth in the Recitals. 

“Subsidiary” of any Person means any corporation, general or limited partnership, joint venture, limited liability
company, limited liability partnership or other Person that is a legal entity, trust or estate of which (or in which) (a) the issued and outstanding capital stock having ordinary voting power to elect a majority of the board of directors (or a
majority of another body performing similar functions) of such corporation or other Person, (b) more than 50% of the interest in the capital or profits of such partnership, joint venture or limited liability company or (c) more than 50% of
the beneficial interest in such trust or estate, is at the time of determination directly or indirectly beneficially owned or Controlled by such first Person. 

“Tender Offer” has the meaning set forth in Schedule 4.2. 

“tZERO” means tZERO Group, Inc. 

“tZERO Common Stock” means common stock of tZERO, par value $0.01 per share. 

“Unknown Liability” has the meaning set forth in Section 4.3. 

  
 Sch 1.1 - 4 

 Schedule 3.1(c)(i) 

Medici Options and Warrants 
  

					
	Series	  	Options
Outstanding	 
	 2017 Options
	  	 	65,567	 
	 2018 Options
	  	 	15,242	 
	 2019 Options
	  	 	23,817	 
	 2020 Options
	  	 	13,260	 

  

	
	Warrants
	 2017 Warrant for 2,500 shares of Common Stock

	 2018 Warrant for 300 shares of Common Stock

  
 Sch 3.1(c)(i) - 1 

 Schedule 3.1(d) 

Retained Assets 
 (As of
December 31, 2020) 
  

			
	 Portfolio Company
	  	 Interest – No. Shares & Class

		
	Bitt, Inc.	  	2,265,245,949.50 – Common Stock
		
	Ripio (BitPagos, Inc.)	  	268,641 – Series A-1 Preferred Stock
		
	Symbiont.io, Inc.	  	343,643 – Series A-1 Preferred Stock
		
	Votem Corp.	  	48,780 – Series B Preferred Stock
		
	Medici Land Governance, Inc.	  	836,377 – Common Stock
		
	PeerNova, Inc.	  	 31,246 – Common Stock
  

115,347 – Series A-2(A) Preferred Stock
  

106,250 – Series A-3(A) Preferred Stock
  

249,263 – Series A-4(A) Preferred Stock
  

133,230 – Series A-4(B) Preferred Stock
  

Convertible Promissory Note dated October 22, 2019; Principal amount $1,464,989.67; 8% interest; convertible at a discount to next priced round

 
 Warrant to Purchase Shares of Common Stock dated October 22, 2019 providing for
purchase of up to $1,464,989.67 of common stock; expires October 22, 2029

		
	SettleMint NV	  	 214,300 – Common Class A Stock
  

37,432 – Common Class B Stock

		
	Spera Inc.	  	2,670,583 – Series A Preferred Stock
		
	Voatz, Inc.	  	 385,516 – Series Seed Preferred Stock
  

448,454 – Series A Preferred Stock

		
	Chainstone Labs, Inc.	  	3,600,000 – Common Stock
		
	Minds, Inc.	  	670,841 – Series A Preferred Stock
		
	Vinsent (VinX Network, Ltd.)	  	 145,126 – Common Stock
  

35% member interest in VV20V, LLC (Vino Ventures)

		
	FinClusive Capital, Inc.	  	 3,333 – Common Pre-Series A Stock

 
 10,501 – Common Series A Stock

		
	GrainChain, Inc.	  	 4,676,089 – Common Class A Stock
  

4,888,156 – Common Class B Stock

  
 Sch 3.1(d) - 1 

			
		
	Ambr S.a.r.l	  	3,755,869 – Preferred Stock
		
	Factom, Inc.	  	419,932 - Series A Preferred Stock
		
	Vital Chain, Inc.	  	All rights to acquire up to 20% of the common stock and related rights under the Development Services Agreement dated March 4, 2020
		
	Netki, Inc.	  	 Convertible Note Purchase Agreement dated September 18, 2018 and Convertible Promissory Note dated September 19, 2018 as amended on
June 8, 2020; Principal amount – $1,000,000; 5% interest; convertible at 25% discount to next priced round
  

Convertible Note Purchase Agreement dated May 9, 2018 and Convertible Promissory Note dated May 9, 2018 as amended on June 8, 2020; Principal
amount – $200,000; 5% interest; convertible at 10% discount to next priced round

		
	Evernym, Inc.	  	 Rights under Simple Agreement for Future Equity dated August 16, 2019 to convert $2,000,000 at the most favorable to Medici Ventures of
either (a) a 20% discount on the next priced round or; (b) a post-money valuation cap of $35M
  

Rights to acquire equity and related rights under Development Services Agreement dated June 12, 2020

		
	tZERO Group, Inc.	  	81,000,000 – Common Stock and all shares obtained by Medici Ventures for debt conversion and additional investment during the period between signing of the Transaction Agreement and the conversion of Medici into a limited
partnership, the total of which shall not exceed 48% of the outstanding shares of Common Stock of tZERO Group, Inc.

  
 Sch 3.1(d) - 2 

 Schedule 4.2 

Medici Restructuring 
 I. Tender Offer

  

	 	A.	 As soon as reasonably practicable following the Effective Date, Medici will commence a tender offer (the
“Tender Offer”) to all of the holders of then-outstanding vested or unvested options to acquire shares of Medici. Subject to applicable Law, Medici will purchase for cancellation any and all properly and validly tendered
options. 

  

	 	B.	 As soon as reasonably practicable following the Effective Date, Medici will use its commercially reasonable
efforts to enter into an agreement with the holder of then-outstanding warrants to acquire shares of Medici to purchase for cancellation any and all such warrants. 

II. Asset Transfers and Liabilities 
  

	 	A.	 Medici shall, or shall cause one or more of its Subsidiaries to, convey, transfer, assign and deliver to
Overstock, all of Medici’s or its Subsidiaries’ right, title and interest, in all of Medici’s assets, whether tangible or intangible, real, personal or mixed, except for (i) the Retained Assets set forth on Schedule 3.1(d)
and (ii) any patent applications transferred to tZERO, pursuant to a transfer and assumption agreement in a form mutually agreed by the parties. 

  

	 	B.	 Medici shall satisfy, repay and discharge any known indebtedness or other similar liability owed or incurred by
it solely relating to the period prior to the Closing (“Known Liabilities”). 

 III. Medici Employees 

 

	 	A.	 All employees of Medici shall be transferred to Overstock or another Affiliate, or terminated from employment
with Medici, prior to the Closing. 

 IV. Cash Contributions 

 

	 	A.	 Overstock shall loan up to $22,700,000 of Cash to Medici from time to time to fund the following:

  

	 	1.	 Payment obligations in connection with the Tender Offer. 

 

	 	2.	 The continued operation of Medici’s business in the ordinary course until the Closing.

  

	 	3.	 Payment obligations in connection with severance or other costs relating to the transfer or termination of
Medici employees prior to the Closing Date. 

  

	 	4.	 An investment by Medici in the capital stock of tZERO in the amount of $13,000,000. 

 

	 	5.	 Payment obligations in connection with the satisfaction, repayment or discharge of any Known Liabilities.

  
 Sch 4.2 - 2 

 V. Debt Conversions 
  

	 	A.	 Within two (2) Business Days after the Effective Date, Medici shall file a Certificate of Amendment of the
Certificate of Incorporation of Medici, with the Secretary of State of the State of Delaware, in the form attached hereto as Annex A to this Schedule 4.2, authorizing 4,000,000 additional shares of Common Stock. 

 

	 	B.	 Prior to the Closing, pursuant to an exchange agreement in a form mutually agreed by the parties, Overstock
will exchange all of the outstanding principal amount of debt owed by Medici to Overstock (including, without limitation, the loan contemplated in IV.A above) and accrued interest through the date of such debt conversion agreement for Common Stock.

  

	 	C.	 Prior to the Closing, pursuant to an exchange agreement in a form mutually agreed by the parties, Overstock
will exchange all of the outstanding principal amount of debt owed by tZERO to Overstock and accrued interest through the date of such debt conversion agreement for tZERO Common Stock. 

 

	 	D.	 Prior to the Closing, pursuant to an exchange agreement in a form mutually agreed by the parties, Medici will
exchange all of the outstanding principal amount of debt owed by tZERO to Medici and accrued interest through the date of such debt conversion agreement for tZERO Common Stock. 

  
 Sch 4.2 - 2 

 Annex A to Schedule 4.2 

Certificate of Amendment of the Certificate of Incorporation of Medici Ventures, Inc. 

CERTIFICATE OF AMENDMENT 

OF 
 CERTIFICATE OF
INCORPORATION 
 OF 

MEDICI VENTURES, INC. 

Medici Ventures, Inc., a Delaware corporation, hereby certifies as follows: 

FIRST. The Board of Directors of said corporation duly adopted a resolution setting forth and declaring advisable the amendment of Article
Fourth of the certificate of incorporation of said corporation to increase the total number of shares which the corporation shall have authority to issue from 1,500,000 shares of Common Stock of the par value of $0.01 per share to 5,500,000 shares
of Common Stock of the par value of $0.01 per share so that, as amended, said Article shall read as follows: 
 “ARTICLE 4. The total
number of shares of stock which the Company shall have authority to issue is 5,500,000 shares. All shares shall be Common Stock, par value of $0.01 per share (the “Common Stock”) and are to be of one class.” 

SECOND. In lieu of a vote of stockholders, written consent to the foregoing amendment has been given by the holder of all of the outstanding
stock entitled to vote thereon in accordance with the provisions of Section 228 of the General Corporation Law of the State of Delaware; and such amendment has been duly adopted in accordance with the provisions of Section 242 of the
General Corporation Law of the State of Delaware. 
 IN WITNESS WHEREOF, Medici Ventures, Inc. has caused this certificate to be signed by
Jonathan E. Johnson III, its President, on the            day of January, 2021. 
  

			
	MEDICI VENTURES, INC.
		
	By	 	  

		 	Jonathan E. Johnson III
		 	President

  
 Sch 4.2 - 2 

 Annex B to Schedule 4.2 

Consent of Sole Stockholder to Certificate of Amendment 

of the Certificate of Incorporation of Medici Ventures, Inc. 

CONSENT OF STOCKHOLDER 

OF 
 MEDICI VENTURES,
INC. 
 The undersigned, being the holder of all the issued and outstanding capital stock of Medici Ventures, Inc., a Delaware
corporation (the “Company”), does hereby consent to the adoption of and hereby adopts the following resolution and directs that this consent be delivered to the Company’s principal place of business: 

WHEREAS, the Board of Directors of the Company approved and declared advisable an amendment to the Article Fourth of the certificate of
incorporation of the Company as set forth herein and the Board of Directors has recommended that the stockholders of the Company approve and adopt such amendment. 

RESOLVED, that the amendment to Article Fourth of the certificate of incorporation of the Company to read as follows is hereby approved and
adopted: 
 “ARTICLE 4. The total number of shares of stock which the Company shall have authority to issue is 5,500,000 shares. All
shares shall be Common Stock, par value of $0.01 per share (the “Common Stock”) and are to be of one class.” 
 RESOLVED,
that notwithstanding any approval of the foregoing amendments to the Certificate of Incorporation by the stockholder, the Board of Directors may, at any time prior to the effectiveness of the filing of the Certificate of Amendment with the Secretary
of State of Delaware, abandon the filing and the adoption of such amendments without any further action by any person. 
 IN WITNESS
WHEREOF, the undersigned has signed this consent this            day of January, 2021. 
  

			
	OVERSTOCK.COM, INC.
		
	By:	 	  

		 	Name: Jonathan E. Johnson III
		 	Title: Chief Executive Officer

  
 Sch 4.2 - 2 

 Exhibit A 

Form of Certificate of Conversion from a Corporation to a Limited Partnership 

CERTIFICATE OF CONVERSION TO LIMITED PARTNERSHIP 

OF 
 MEDICI VENTURES, INC.

 TO 
 MEDICI
VENTURES, L.P. 
 This Certificate of Conversion to Limited Partnership, dated as of _____ __, 2021, is being duly executed and filed by
Medici Ventures, Inc., a Delaware corporation (the “Corporation”), to convert the Corporation to Medici Ventures, L.P., a Delaware limited partnership (the “Limited Partnership”), under the Delaware Revised Uniform Limited
Partnership Act (6 Del. C. §17-101, et seq.). 
 1. The Corporation was
first incorporated on September 13, 2016. The jurisdiction of the Corporation at the time it was first incorporated, and immediately prior to the filing of this Certificate of Conversion to Limited Partnership, was Delaware. 

2. The Corporation’s name and type of entity immediately prior to the filing of this Certificate of Conversion to Limited Partnership was
Medici Ventures, Inc., a Delaware corporation. 
 3. The name of the Limited Partnership as set forth in its certificate of limited
partnership is Medici Ventures, L.P. 
 4. The conversion of the Corporation to the Limited Partnership shall be effective upon the filing of
this Certificate of Conversion to Limited Partnership and a certificate of limited partnership of the Partnership with the Secretary of State of the State of Delaware. 

IN WITNESS WHEREOF, the undersigned has executed this Certificate of Conversion to Limited Partnership as of the date first-above written.

  

			
	MEDICI VENTURES, INC.
		
	By:	 	  

		 	Name: Jonathan E. Johnson III
		 	Title: President

  
 A - 1 

 Exhibit B 

Form of Certificate of Limited Partnership 

CERTIFICATE OF LIMITED PARTNERSHIP 

OF 
 MEDICI VENTURES, L.P.

 This Certificate of Limited Partnership of Medici Ventures, L.P. (the “Partnership”), dated as of ______ __, 2021, is being
duly executed and filed by Pelion MV GP, L.L.C., as the sole general partner of the Partnership, to form a limited partnership under the Delaware Revised Uniform Limited Partnership Act (6 Del.C.
§17-101, et seq.). 
 1. Name. The name of the limited partnership formed
hereby is Medici Ventures, L.P. 
 2. Registered Office. The address of the registered office of the Partnership in the State of
Delaware is c/o Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County, Delaware 19801. 
 3.
Registered Agent. The name and address of the registered agent for service of process on the Partnership in the State of Delaware are Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, New Castle County,
Delaware 19801. 
 4. General Partner. The name and the business address of the sole general partner of the Partnership are: Pelion MV
GP, L.L.C., 2750 East Cottonwood Parkway, Suite 600 Salt Lake City, UT 84121. 
 5. Effectiveness. This Certificate of Limited
Partnership shall be effective upon the filing of this Certificate of Limited Partnership with the Secretary of State of the State of Delaware. 

IN WITNESS WHEREOF, the undersigned has executed this Certificate of Limited Partnership as of the date first-above written. 

 

			
	GENERAL PARTNER:
	
	PELION MV GP, L.L.C.
		
	By:	 	  

		 	Name:
		 	Title:

  
 B - 1 

 Exhibit C 

Form of Limited Partnership Agreement of Medici Ventures, L.P. 

  
 C - 1 

 Draft of January 24, 2021 

CONFIDENTIAL 
 MEDICI VENTURES,
L.P. 
 LIMITED PARTNERSHIP AGREEMENT 

THIS LIMITED PARTNERSHIP AGREEMENT (the
“Agreement”) is made and entered into as of the ____ day of _________, 2021, by and among Pelion MV GP, L.L.C., a Delaware limited liability company, in its capacity as general partner (the “General
Partner”), and the entities and persons listed as limited partners on Exhibit A (the “Limited Partners”), who hereby form Medici Ventures, L.P. (the
“Partnership”), a limited partnership formed pursuant to the provisions of the Delaware Revised Uniform Limited Partnership Act (the “Act”), in accordance with the terms set forth below. Certain
capitalized terms not otherwise defined shall have the meanings assigned to them in Article 13 of this Agreement. 
 WITNESSETH 

WHEREAS, Medici Ventures, Inc. (the “Corporation”) was organized as a Delaware corporation in accordance with
the General Corporation Law of the State of Delaware (the “DGCL”) and was, immediately prior to the date hereof, governed by the Corporation’s Certificate of Incorporation filed with the Delaware Secretary of State on
September 13, 2016, and as amended by the Certificate of Amendment filed with the Delaware Secretary of State on May 3, 2019; 

WHEREAS, upon the terms and subject to the conditions set forth herein and in accordance with the Act and the DGCL, the Corporation is
being converted to a Delaware limited partnership pursuant to and in accordance with Section 17-217 of the Act and Section 266 of the DGCL (the “Conversion”); and 

WHEREAS, in connection with the Conversion, all of the outstanding shares of the Corporation are being converted into limited partner
interests in the Partnership, and the General Partner is being admitted as the sole general partner of the Partnership with an interest in the Partnership, each as described in paragraph 1.5(c) below. 

ARTICLE 1 
 NAME,
PURPOSE AND OFFICES OF PARTNERSHIP; CONVERSION 
 1.1 Name. The name of the Partnership is Medici Ventures, L.P. The affairs of
the Partnership shall be conducted under the Partnership name. 
 1.2 Purpose. The primary purpose of the Partnership is to act as a
venture capital fund, to provide the Limited Partners with the opportunity to realize significant long-term capital appreciation from holdings in the Target Companies and other Portfolio Companies acquired after the Formation Date in accordance with
this Agreement. The general purposes of the Partnership are to buy, sell, hold, and otherwise invest in securities of every kind and nature and rights and options with respect thereto, including, without limitation, stock, notes, bonds and
debentures; to exercise all rights, powers, privileges, and other incidents of ownership or possession with respect to securities held or owned by the Partnership; to enter into, make, and perform all contracts and other undertakings; to advance and
promote blockchain technology; and to engage in all activities and transactions as may be necessary, advisable, or desirable to carry out the foregoing. 

  
 C - 2 

 1.3 Principal Offices. The Partnership will have its principal office in Salt Lake
City, Utah or at such other place or places as the General Partner may from time to time determine. The General Partner shall promptly provide written notice to each of the Limited Partners in the event of a change of the location of the
Partnership’s principal office. 
 1.4 Registered Agent and Office. The name of the registered agent for service of
process of the Partnership and the address of the Partnership’s registered office in the State of Delaware shall be Corporation Service Company, 251 Little Falls Drive, Wilmington, Delaware 19808, or such other agent or office in the State of
Delaware as the General Partner may from time to time designate. The General Partner shall promptly provide written notice to each of the Limited Partners in the event of any change with respect to the Partnership’s registered agent in the
State of Delaware. 
 1.5 Conversion. 

(a) The Partnership is being formed on this ___ day of _______, 2021 (the “Formation Date”) upon the filing of
the Certificate of Conversion to Limited Partnership of the Corporation and the filing of the Certificate of Limited Partnership of the Partnership with the office of the Secretary of State of the State of Delaware. The Conversion, this Agreement
and such filings with the Secretary of State of the State of Delaware are hereby authorized, ratified and approved. This Agreement shall be effective simultaneously with the Conversion. 

(b) At the effective time of the Conversion, the Corporation is being converted to the Partnership and, for all purposes of the laws of
the State of Delaware and otherwise, the Conversion shall be deemed a continuation of the existence of the Corporation in the form of a Delaware limited partnership. In connection with the Conversion, the Corporation is not being required to
wind up its affairs or pay its liabilities and distribute its assets, and the Conversion does not constitute a dissolution of the Corporation. As of the Formation Date, for all purposes of the laws of the State of Delaware and otherwise, all of
the rights, privileges and powers of the Corporation, and all property, real, personal and mixed, and all debts due to the Corporation, as well as all other things and causes of action belonging to the Corporation, shall remain vested in the
Partnership and shall be the property of the Partnership, and the title to any real property vested by deed or otherwise in the Corporation shall not revert or be in any way impaired by reason of any provision of the Act, the DGCL or otherwise; but
all rights of creditors and all liens upon any property of the Corporation shall be preserved unimpaired, and all debts, liabilities and duties of the Corporation shall remain attached to the Partnership, and may be enforced against it to the same
extent as if said debts, liabilities and duties had originally been incurred or contracted by it in its capacity as a limited partnership. The rights, privileges, powers and interests in property of the Corporation, as well as the debts, liabilities
and duties of the Corporation, shall not be deemed, as a consequence of the Conversion, to have been transferred to the Partnership for any purpose of the laws of the State of Delaware or any other state. Exhibit B hereto summarizes
all the Portfolio Company holdings of the Partnership as of the Formation Date. 

  
 C - 3 

 (c) As of the effective time of the Conversion, (i) the shares of the
Corporation previously held by each Limited Partner as a stockholder of the Corporation are, in the aggregate, converted into 99% of the partnership interests of the Partnership, all such 99% partnership interests being Limited Partner interests;
(ii) each Person that was a stockholder of the Corporation is hereby admitted as a Limited Partner of the Partnership and shall receive a percentage (based on the shares of common stock held by such stockholder immediately prior to the
effective time of the Conversion over the total number of shares of common stock of the Corporation issued and outstanding immediately prior to the effective time of the Conversion) of the 99% partnership interest in the Partnership (such
percentage, the “LP Percentage”); (iii) the Partnership Percentage of each Limited Partner shall be equal to the percentage of all the partnership interests owned by the Partners; (iv) the Capital Commitment of each
Limited Partner shall be an amount equal to $44,550,000 multiplied by its LP Percentage; and (v) the General Partner is hereby admitted as the sole general partner of the Partnership with the associated Capital Commitment and Partnership
Percentage set forth opposite the General Partner’s name on Exhibit A hereto. At the effective time of the Conversion, Exhibit A hereto shall reflect the name, address, Capital Commitment and Partnership
Percentage of each Limited Partner calculated in accordance with this paragraph 1.5(c). 
 (d) For all tax purposes (but solely for
tax purposes) the Conversion shall be treated as a liquidation of the Corporation in which the Corporation distributes all of its assets and liabilities to its stockholders in complete liquidation, and immediately thereafter, the stockholders
contribute all of the distributed assets and liabilities to a newly formed partnership. 
 ARTICLE 2 

TERM OF PARTNERSHIP 

2.1 Term. The term of the Partnership shall continue until the eighth anniversary of the Formation Date, unless extended pursuant to
paragraph 10.1 or sooner dissolved as provided in paragraph 10.2 below. The existence of the Partnership as a separate legal entity shall continue until the cancellation of the Certificate of Limited Partnership in accordance with the Act. 

2.2 Events Affecting a Manager of the General Partner. Except as specifically provided in paragraph 10.2, the death, bankruptcy,
withdrawal, insanity, incompetency, temporary or permanent incapacity, expulsion or removal of any member of the General Partner shall not, in and of itself, dissolve the Partnership. 

2.3 Events Affecting a Limited Partner of the Partnership. Except as specifically provided in paragraph 10.2, the death, temporary or
permanent incapacity, insanity, incompetency, bankruptcy, liquidation, dissolution, reorganization, merger, sale of all or substantially all the stock or assets of, or other change in the ownership or nature of a Limited Partner shall not, in and of
itself, dissolve the Partnership. 
 2.4 Events Affecting the General Partner. The bankruptcy, reorganization, merger, sale of all or
substantially all the interests or assets of, or other change in the ownership or nature of the General Partner shall not constitute an “event of withdrawal” of the General Partner under the Act, except as specifically provided in
paragraph 10.2, and upon the happening of any such event, the business and affairs of the Partnership shall be continued without dissolution by the General Partner or any successor to the General Partner. 

  
 C - 4 

 ARTICLE 3 

NAME AND ADMISSION OF PARTNERS 

3.1 Name and Address. The name and address of the General Partner and each Limited Partner (hereinafter the General Partner and the
Limited Partners may be referred to collectively as the “Partners” and individually as a “Partner”), the amount of such Partner’s Capital Commitment to the Partnership, and such Partner’s
Partnership Percentage are set forth on Exhibit A hereto. The General Partner shall cause Exhibit A to be amended from time to time to
reflect the admission of any new Partner, the withdrawal or substitution of any Partner, the transfer of interests among such Partners, receipt by the Partnership of notice of any change of address of any such Partner, or the change in any such
Partner’s Capital Commitment or Partnership Percentage. An amended Exhibit A shall supersede any prior Exhibit A and become a part of this
Agreement. A copy of the most recent amended Exhibit A shall be kept on file at the principal office of the Partnership. 

3.2 Admission of Additional Partners; Capital Commitment Increases. 

(a) Except as provided in paragraphs 3.2(b), 4.4(b) and 9.6, an additional person may be admitted as a Partner only with the consent of
the General Partner. Such additional Partner’s admission as a Partner shall be effective upon execution and delivery to the General Partner of a Subscription Agreement, a counterpart signature page to this Agreement and any other materials that
the General Partner deems appropriate. 
 (b) The Partnership is hereby authorized to, and shall, issue Limited Partner interests in
the Partnership upon the exercise of a Medici Option. Notwithstanding paragraph 3.2(a) hereof or any other provision of this Agreement, if, after the effective time of the Conversion, any Person exercises a Medici Option, (i) the Partnership
shall issue to such Person Limited Partner interests of the Partnership with a Partnership Percentage equal to the Partnership Percentage that would have resulted had such holder exercised such option immediately prior to the Conversion and the
shares of the Corporation issued upon such exercise converted to a Limited Partner interest in accordance with paragraph 1.5(c), (ii) such Person shall be admitted as a Limited Partner of the Partnership upon its payment of the exercise price of the
Medici Option, the execution of a counterpart signature page agreeing to be bound by this Agreement and the execution and delivery to the General Partner of a Subscription Agreement, (iii) the Partnership Percentage and LP Percentage of each
other Limited Partner will be reduced pro rata to give effect to clause (i) hereof; (iv) the Capital Commitment of each such additional Limited Partner shall be an amount equal to $44,550,000 (which amount shall be increased, in the event of
any increase in the Partnership’s Committed Capital pursuant to paragraph 3.2(c), by 99% of such increase) multiplied by its LP Percentage and (v) the Capital Commitment of each other Limited Partner shall be
re-calculated as the product of $44,550,000 (which amount shall be increased, in the event of any increase in the Partnership’s Committed Capital pursuant to paragraph 3.2(c), by 99% of such increase)
multiplied by its LP Percentage, as reduced pursuant to clause (iii) above. In connection with the admission of an additional Limited Partner following the exercise of a Medici 

  
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Option, such additional Limited Partner shall contribute an amount of its Capital Commitment equal to the amount of its additional Limited Partner’s Capital Commitment it would have
contributed if it had been a Limited Partner since the Conversion. In accordance with paragraph 3.1, following the exercise of a Medici Option, the General Partner shall cause Exhibit A to be
amended from time to time to reflect the admission of the holder of the Medici Option as a Limited Partner and the adjustment of the Limited Partner Capital Commitments (as reduced pursuant to clause (v)) and Partnership Percentages of all Partners
in accordance with the provisions hereof. 
 (c) If the General Partner determines that the Partnership’s original Committed
Capital of $45,000,000 will be insufficient to satisfy the needs of the Portfolio Companies for follow-on funding, the General Partner shall notify the Limited Partners of such circumstance and shall provide
the Limited Partners the option to increase the Partnership’s Committed Capital by an amount up to $30,000,000 in aggregate, in which event the Capital Commitments of all Partners shall be proportionately increased based on their existing
Capital Commitment amounts. 
 ARTICLE 4 

CAPITAL ACCOUNTS, CAPITAL CONTRIBUTIONS 

AND NONCONTRIBUTING PARTNERS 

4.1 Capital Accounts. An individual Capital Account shall be maintained for each Partner. 

4.2 Capital Contributions of the Limited Partners. 

(a) Each Limited Partner’s Capital Commitment shall be contributed in one or more cash installments as specified by the General
Partner upon ten (10) business days’ prior written notice, provided that such installments shall be in accordance with Partnership Percentages provided, further, that Overstock shall be credited against the second installment
(or the first if only one installment) any amount of Cash (as defined in the Transaction Agreement) remaining in the Partnership at the time of Conversion. 

(b) The General Partner may, in its sole discretion, return to the Partners all or a portion of any capital contribution intended for a
proposed investment which is not consummated as anticipated pro rata in accordance with their respective capital contributions so long as the General Partner returns such capital contribution (or portion thereof) to the Partners within sixty
(60) days after its receipt by the General Partner or the Partnership; provided that, to the extent any such amount so distributed is identified in a notice to the Partners as subject to recall, such returned capital shall be added back
to unfunded Capital Commitments and be subject to recall by the General Partner pursuant to this Article 4. 
 (c) (i) If,
in the discretion of the General Partner, Partnership assets are insufficient to fulfill incurred or reasonably anticipated obligations or liabilities of the Partnership (including, but not limited to, fees, costs and expenses related to litigation
or threatened litigation involving the Partnership or its Portfolio Companies (including the sale of Portfolio Company securities) and/or the amounts that the Partnership expects that it will be required to pay in respect of claims associated with
prior Portfolio Company dispositions (including, without limitation, 

  
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amounts associated with the terms of any purchase and sale agreement relating to the acquisition of any Portfolio Company securities) and/or to fulfill an indemnity obligation of the Partnership)
(collectively, the “Partnership’s Capital Needs”), prior to the termination of the Partnership the General Partner may require each Partner to contribute capital to the Partnership in an amount up to such Partner’s
unfunded Capital Commitment, if any. 
 (ii) If, in the discretion of the General Partner, Partnership assets remain insufficient to
satisfy the Partnership’s Capital Needs following the contribution to the Partnership of the maximum amount permitted by paragraph 4.2(c)(i), the General Partner may recall distributions previously made to the Partners solely for the purpose of
fulfilling or satisfying such obligations, liabilities or needs. Distributions shall be recalled under this paragraph 4.2(c)(ii) from all Partners in proportion to their respective Partnership Percentages. In no event shall any Partner be required
to return distributions pursuant to this paragraph 4.2(c)(ii) in an amount in excess of the lesser of (A) fifty percent (50%) of the aggregate amount of distributions previously received by such Partner from the Partnership (excluding any
amounts distributed prior to the Formation Date) or (B) twenty percent (20%) of such Partner’s Capital Commitment. In no event will the General Partner be permitted to require the return of any distribution pursuant to this paragraph
4.2(c)(ii) after the earlier of (i) three (3) years after the date such distribution was made, or (ii) two (2) years after the end of the Partnership’s term. 

4.3 Capital Contributions of the General Partner. The General Partner shall contribute capital to the Partnership in an amount equal to
its Partnership Percentage of the amount contributed by all Partners on each date on which any Limited Partner makes a contribution other than contributions made upon exercise of the Medici Options; provided, that to account for the fact that the
General Partner shall not bear any management fee with respect its Capital Commitment, if and to the extent that any contribution by the Limited Partners that is expected to be used by the Partnership to fund a management fee payable pursuant to
paragraph 6.1, the General Partner shall be deemed solely for purposes of this paragraph 4.3 (without being required to actually fund) to have contributed an amount corresponding to the amounts that the Limited Partners contribute for purposes of
funding such management fee payment. 
 4.4 Noncontributing Partners. 

(a) The Partnership shall be entitled to enforce the obligations of each Limited Partner to make the contributions to capital (including
any obligations to return distributions) set forth in this Agreement, and the Partnership shall have all remedies available at law or in equity in the event any such contribution is not so made. If any legal proceedings relating to the failure of a
Limited Partner to make such a contribution are commenced, such Limited Partner shall pay all costs and expenses incurred by the Partnership, including reasonable attorneys’ fees, in connection with such proceedings. 

(b) Additionally, without in any way limiting any remedy which the Partnership may pursue pursuant to paragraph 4.4(a), should any
Limited Partner fail to make any of the capital contributions or fulfill any of the distribution-return obligations required of it under this Agreement and such failure shall have continued uncured for ten (10) or more business days after
delivery of written notice by the General Partner to such Limited Partner, such Limited Partner shall be in default (a “Defaulting Limited Partner”). In the event of such default, the General Partner may,

  
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in carrying out what it determines to be in the best interests of the nondefaulting Limited Partners, elect to enforce one or more of the provisions of this paragraph 4.4(b) in connection
with such a default, to which each Limited Partner hereby expressly consents. The General Partner shall deliver written notice to such Defaulting Limited Partner if it determines to utilize one or more of the powers set forth in
paragraph 4.4(a) or this paragraph 4.4(b) (a “Default Notice”). Upon delivery of the Default Notice, the Defaulting Limited Partner shall not be permitted to participate in any vote or consent of the Partners required
under this Agreement or permitted under the Act (and the Capital Commitment of such Defaulting Limited Partner shall be disregarded for purposes of calculating a Majority in Interest or other Percentage in Interest of the Limited Partners for
purposes of this Agreement), and the Defaulting Limited Partner may not make any additional contributions of capital against such Defaulting Limited Partner’s Capital Commitment (other than to fund management fees and other expenses of the
Partnership) without the written consent of the General Partner, which consent may be granted or denied in the sole discretion of the General Partner. 

(i) The General Partner may waive, without the consent of any other Partner, in whole or in part, the requirement of payment with
respect to any due and unpaid capital contributions by a Defaulting Limited Partner pursuant to this Agreement and reduce such Defaulting Limited Partner’s Capital Commitment accordingly. 

(ii) The General Partner may extend the time of payment for a Defaulting Limited Partner of any due and unpaid capital contributions by
such Defaulting Limited Partner pursuant to this Agreement. 
 (iii) The General Partner may declare the entire amount of a
Defaulting Limited Partner’s then unfunded Capital Commitment to be immediately due and payable. 
 (iv) On behalf of the
Partnership, the General Partner may enforce, by appropriate legal proceedings, the Defaulting Limited Partner’s obligation to make payment on the amount of any due and unpaid capital contributions by such Defaulting Limited Partner pursuant to
this Agreement or to pay the entire amount of such Defaulting Limited Partner’s then unfunded Capital Commitment. 
 (v) Should
the General Partner, in its sole discretion, elect to exercise the provisions of this paragraph 4.4(b)(v), such Defaulting Limited Partner shall pay all expenses to be incurred or anticipated to be incurred by the Partnership in connection with the
default and the interest on the amount of the contribution to the Partnership then due at the Prime Rate as of the date the contribution to the Partnership was required to be made pursuant to this Agreement plus two hundred (200) basis points
per annum (or if less, the highest rate permitted by applicable law), such interest to accrue from the date the contribution to the Partnership was required to be made pursuant to this Agreement until the date the contribution is made by such
Defaulting Limited Partner, unless such payment is waived by the General Partner (which waiver may be made without the consent of any other Partner). The accrued interest shall be paid by the Defaulting Limited Partner to the Partnership upon
payment of such contribution. The accrued interest so paid shall not be treated as an additional contribution to the capital of the Partnership, but shall be deemed to be income to the Partnership; provided that such income shall not be
allocated to the Capital Account of the Defaulting Limited Partner. Until such time as the unpaid 

  
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contribution and accrued interest thereon shall have been paid by the Defaulting Limited Partner, the General Partner may elect to withhold any or all distributions to be made to such Defaulting
Limited Partner pursuant to Article 7 or Article 10 and recover any such unpaid contribution and accrued interest thereon by set off against any such distribution withheld. 

(vi) Should the General Partner, in its sole discretion, elect to exercise the provisions of this paragraph 4.4(b)(vi), the
General Partner and the nondefaulting Limited Partners (the “Optionees”), shall have the right and the option, but not the obligation, to acquire the Partnership interest of the Defaulting Limited Partner (the
“Optionor”), as follows: 
 (1) The General Partner shall notify the Optionees of the default within twenty
(20) days after it gives the Default Notice to the Defaulting Limited Partner. Such notice shall advise each Optionee of the portion and the price of the Optionor’s interest available to it. Each Optionee shall be offered a pro rata
portion (in accordance with capital contributions to the Partnership) of the available Optionor’s interest. The aggregate price for the Optionor’s interest shall be the lesser of fifty percent (50%) of (A) the amount of the
Optionor’s Capital Account calculated as of the due date of the additional contribution and adjusted to reflect the allocation of the appropriate proportion of the Partnership’s unrealized gains and losses as of the due date of such
defaulted contribution, and (B) the aggregate amount of the Optionor’s capital contributions actually made less any distributions (valued at their fair market value on the date of distribution in accordance with paragraph 12.1) on or
prior to such due date. The price for each Optionee shall be prorated according to the portion of the Optionor’s interest purchased by each such Optionee. The option granted hereunder shall be exercisable at any time within thirty
(30) days following the date that the General Partner notifies the Optionees of the default by delivery to the General Partner of a notice of exercise of option together with a nonrecourse promissory note for the purchase price and a security
agreement in accordance with subparagraph (5) below, which notice and documents the General Partner shall promptly forward to the Optionor. 

(2) Should any Optionee not exercise its option within said thirty (30) day period provided in subparagraph (1) above, the
General Partner shall immediately notify the other Optionees who have elected to exercise their option, which Optionees shall have the right and option ratably among them to acquire the portion of the Optionor’s interest not so acquired (the
“Remaining Portion”) within thirty (30) days of the date of the notice specified in this subparagraph (2) on the same terms as provided in subparagraph (1) above. 

(3) Any amount of the Remaining Portion not acquired by the Optionees pursuant to subparagraph (2) above may be acquired by the
General Partner within thirty (30) days of the expiration of the thirty (30) day period specified in subparagraph (2) above on the same terms as set forth in subparagraph (1) above. 

(4) Any amount of the Remaining Portion not acquired by the Optionees and the General Partner pursuant to subparagraphs (2) or
(3) above may, if the General Partner deems it in the best interest of the Partnership, be sold by the General Partner to any other investor, on terms not more favorable to such other investor than those applicable to the Optionees’
option, and upon the consent of the General Partner, any such third party purchaser may become a Limited Partner to the extent of the interest purchased hereunder. 

  
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 (5) The price due from each of the General Partner and the Optionees (and, if
applicable, any third party purchaser pursuant to subparagraph (4) above) shall be payable by a noninterest bearing, nonrecourse promissory note (in such form as the General Partner shall designate) due upon final liquidation of the
Partnership. Each such note shall be secured by the portion of the Optionor’s Partnership interest so purchased by its maker pursuant to a security agreement in a form designated by the General Partner and shall be enforceable by the Optionor
only against such security. 
 (6) Upon exercise of any option hereunder, each Optionee and the General Partner (and, if applicable,
any third party purchaser pursuant to subparagraph (4) above) shall be obligated (A) to contribute to the Partnership that portion of the additional capital then due from the Optionor equal to the percentage of the Optionor’s interest
purchased by such person and (B) to pay the same percentage of any further contributions otherwise due from such Optionor on the date such contributions are otherwise due. Each person who purchases a portion of the Optionor’s Partnership
interest shall be deemed to have acquired such portion as of the due date of the additional capital contribution with respect to which the Optionor defaulted, and any distributions made after the due date on account of the Optionor’s interest
shall be distributed among such purchasers (and, unless the entire interest was purchased, the Optionor) in accordance with their ultimate respective interests in the Optionor’s interest. Distributions otherwise allocable to the Optionor under
the preceding sentence shall first be used to offset any defaulted contribution of the Optionor still due to the Partnership. Upon completion of any transaction hereunder, the General Partner shall cause Exhibit A to be amended to
reflect all necessary changes resulting therefrom including, without limitation, admission of a purchaser as a Limited Partner, and adjustment of Capital Account balances, Capital Commitment amounts and Partnership Percentages as of the date of
Optionor’s default to reflect the acquisition from Optionor of the appropriate pro rata portion of each such item. The purchase and transfer of the Partnership interest of the Optionor shall occur automatically upon exercise by any Optionee or
the General Partner of its option hereunder (or acquisition by a third party purchaser of an interest pursuant to subparagraph (4) above), without any action by Optionor. 

(7) Notwithstanding the sale of any portion of an Optionor’s interest pursuant to this paragraph 4.4(b)(vi), such Optionor shall
not be released from its unfunded Capital Commitment except as actually funded by the acquirer of any such portion of Optionor’s interest. 

(8) In the event that any amount of the Remaining Portion is not acquired by the Optionees, the General Partner and any third party
purchasers pursuant to paragraphs 4.4(b)(vi)(1)-(4), then, in its sole discretion, the General Partner may apply any of the remedies described in paragraph 4.4(a) and this subparagraph 4.4(b) to such unsold portion. 

(vii) The General Partner may, in its sole discretion, elect to remove such Defaulting Limited Partner from the Partnership, in which
such event (1) fifty percent (50%) of the Defaulting Limited Partner’s Capital Account balance shall be forfeited and reallocated to the Capital Accounts of the nondefaulting Partners proportionally, based on, with respect to each such
Partner, the ratio that its Partnership Percentage immediately prior to such calculation bears to the aggregate Partnership Percentages of all Partners (other than the Defaulting Limited Partner), (2) the remaining fifty percent (50%) of the
Defaulting Limited Partner’s Capital Account balance shall be payable to the Defaulting Limited Partner by the Partnership in installments over a period of no more than three (3) years from the effective date of the removal of such
Defaulting Limited Partner pursuant to this paragraph 4.4(b)(vii), and (3) the Defaulting Limited Partner’s Partnership Percentage shall be reduced to zero. 

  
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 (viii) Notwithstanding anything to the contrary in this Agreement, each Limited
Partner (1) agrees that it will execute any instruments or perform any other acts that are or may be necessary to effectuate and carry out the transactions contemplated by this paragraph 4.4, and (2) designates and appoints the
General Partner its true and lawful attorney, in its name, place and stead to make, execute and sign any and all instruments, documents or certificates on behalf of any Defaulting Limited Partner in order to give effect to any remedy against such
Defaulting Limited Partner (including, but not limited to, the remedies set forth in this paragraph 4.4(b)). 
 (ix) The Partners
agree that the General Partner’s authority and discretion to enforce any remedy against a Defaulting Limited Partner (including but not limited to the remedies set forth in this paragraph 4.4(b)) supersede any fiduciary duties of the General
Partner to such Defaulting Limited Partner. The Partners further agree that the remedies set forth in this paragraph 4.4(b) are fair and reasonable in light of the difficulty in ascertaining the actual damages that would be incurred by the
Partnership and the nondefaulting Partners as a result of the Defaulting Limited Partner’s failure to contribute capital when due pursuant to the terms of this Agreement. 

ARTICLE 5 
 PARTNERSHIP
ALLOCATIONS 
 5.1 Allocation of Profit, Loss and Expenses. Except as hereinafter provided in this Article 5, Profit, Loss and
expenses of the Partnership for each Accounting Period shall be allocated to the Partners’ Capital Accounts as follows: 
 (a)
Profits and Losses associated with a given Portfolio Company, along with expenses of the Partnership factored into the determination of Excess Proceeds for such Portfolio Company, for such Accounting Period shall be allocated to the Capital
Accounts of the Partners in a manner so that, to the maximum extent possible: 
 (i) If there are Excess Proceeds for such Portfolio
Company, such items shall have been apportioned among the Partners, on a cumulative basis, as follows: (A) to the General Partner, an amount equal to the product of the Applicable Carry Rate for such Portfolio Company (as determined as of the
end of such Accounting Period) multiplied by the Excess Proceeds for such Portfolio Company; and (B) to all Partners in proportion to their respective Partnership Percentages, an amount equal to the product of (x) the excess of 100% over
the Applicable Carry Rate for such Portfolio Company (as determined as of the end of such Accounting Period) and (y) the Excess Proceeds for such Portfolio Company. 

(ii) If there are not Excess Proceeds for such Portfolio Company (i.e., net Profits associated with such Portfolio Company do not
exceed the expenses of the Partnership factored into the determination of Excess Proceeds for such Portfolio Company), such items shall have been apportioned among the Partners, on a cumulative basis, in proportion to their respective Partnership
Percentages. 

  
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 (b) All expenses of the Partnership (including Performance Fee expenses) other than
(x) expenses factored into the determination of Excess Proceeds and (y) management fee expenses for such Accounting Period shall be allocated to the Capital Accounts of all of the Partners in proportion to their respective Partnership
Percentages. 
 (c) All management fee expenses of the Partnership for such Accounting Period shall be allocated to the Capital
Accounts of all the Limited Partners in proportion to their respective Partnership Percentages during such Accounting Periods. 
 5.2
Special Allocations. If additional persons are admitted to the Partnership as Limited Partners subsequent to the date of its formation, then organizational costs, fees (including the management fee), and expenses of the Partnership
that are allocated to the Partners on or after the effective date of such admission shall be allocated first to such new Limited Partners to the extent necessary to cause such persons to be treated with respect to organizational costs as if they had
been Partners from the commencement of the Partnership’s term. 
 5.3 Regulatory Allocations. 

(a) This Agreement is intended to comply with the safe harbor provisions set forth in Treasury Regulation
1.704-1(b) and the allocations set forth in paragraph 5.3(b) below (the “Regulatory Allocations”) are intended to comply with certain requirements of Treasury Regulation Section 1.704-1(b). In the event the Regulatory Allocations result in allocations being made that are inconsistent with the manner in which the Partners intend to divide Partnership Profit and Loss as reflected
in paragraphs 5.1 and 5.2, the General Partner shall use its best efforts to adjust subsequent allocations of any items of profit, gain, loss, income or expense such that the net amount of the Regulatory Allocations and such subsequent special
adjustments to each such Partner is zero. 
 (b) The allocations provided in this Article 5 shall be subject to the following
exceptions: 
 (i) Any loss or expense otherwise allocable to a Limited Partner which exceeds the positive balance in such Limited
Partner’s Capital Account shall instead be allocated first to all Partners who have positive balances in their Capital Accounts in proportion to their respective Partnership Percentages, and when the Capital Accounts of all Partners have been
reduced to zero, then to the General Partner. 
 (ii) In the event any Limited Partner unexpectedly receives any adjustments,
allocations, or distributions described in Treasury Regulation Section 1.704-1(b)(2)(ii)(d)(4) through (d)(6), which causes or increases a deficit balance in such Limited Partner’s Capital Account,
items of Partnership income and gain shall be specially allocated to such Limited Partner in an amount and manner sufficient to eliminate the deficit balance in its Capital Account created by such adjustments, allocations, or distributions as
quickly as possible. 

  
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 (iii) For purposes of this paragraph 5.3(b), the balance in a Partner’s Capital
Account shall consider the adjustments provided in Treasury Regulation Section 1.704-1(b)(2)(ii)(d)(4) through (d)(6). 

5.4 Income Tax Allocations. 

(a) Except as otherwise provided in this paragraph or as otherwise required by the Code and the rules and Treasury Regulations
promulgated thereunder, a Partner’s distributive share of Partnership income, gain, loss, deduction, or credit for income tax purposes shall be the same as is entered in the Partner’s Capital Account pursuant to this Agreement. 

(b) In accordance with Code Section 704(c) and the Treasury Regulations thereunder, income, gain, loss and deduction with respect
to any asset contributed or deemed contributed to the capital of the Partnership shall, solely for tax purposes, be allocated among the Partners so as to take account of any variation between the adjusted basis of such property to the Partnership
for federal income tax purposes and its initial Adjusted Asset Value. 
 (c) In the event the Adjusted Asset Value of any Partnership
asset is adjusted pursuant to the terms of this Agreement, subsequent allocations of income, gain, loss and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax
purposes and its Adjusted Asset Value in the same manner as under Code Section 704(c) and the Treasury Regulations thereunder. 

ARTICLE 6 
 MANAGEMENT
FEE, PERFORMANCE FEES AND PARTNERSHIP EXPENSES 
 6.1 Management Fee. During the term of the Partnership, the Partnership shall
pay to an entity or entities designated by the General Partner and controlled by the managers of the General Partner (“Management Company”) an annual management fee in the amount $2,500,000 per year over the first eight years
of the term of the Partnership. The first such management fee payment shall be payable on the Formation Date, and additional payments shall be due on the first business day after each of the first seven anniversaries of the Formation Date. 

6.2 Performance Fees.

(a) Following the disposition by the Partnership of all Securities held by the Partnership in a given Portfolio Company, the Partnership
shall pay to the General Partner (or its designee) a performance fee associated with such Portfolio Company (each, a “Performance Fee”) equal to the excess of (i) the Target Performance Entitlement for such Portfolio
Company over (ii) the aggregate net amounts associated with such Portfolio Company allocated (or to be allocated) to the General Partner pursuant to clause (A) of paragraph 5.1(a)(i) above. 

(b) Each Performance Fee payment shall be due within thirty (30) days of the disposition giving rise to such Performance Fee. For
U.S. federal income tax purposes, any Performance Fee paid to the General Partner shall be treated as paid to a partner acting other than in its capacity as a partner of a partnership within the meaning of Section 707(a)(2)(A) of the Code and
not as a distribution within the meaning of Section 731(a) of the Code. 

  
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 6.3 Expenses. 

(a) From the management fee, the General Partner shall bear all normal operating expenses incurred in connection with the management of
the Partnership, except for those expenses borne directly by the Partnership as specifically set forth in the immediately following subparagraphs and elsewhere herein. Such normal operating expenses to be borne by the General Partner shall include,
without limitation, expenditures on account of salaries, wages, travel (except as described in paragraph 6.3(b)), entertainment, and other expenses of the Partnership’s employees and of the General Partner’s members and employees, rentals
payable for space used by the General Partner or the Partnership, bookkeeping services and equipment, expenses incurred in developing, investigating and evaluating investment opportunities and any other compensation expenses related to managing
investments of the Partnership. 
 (b) The Partnership shall bear all costs and expenses incurred in the holding, purchase, sale or
exchange of Securities (whether or not ultimately consummated), including, but not by way of limitation, private placement fees, finder’s fees, interest on borrowed money, real property or personal property taxes on investments, brokerage fees,
legal fees, audit and accounting fees, fees for outside appraisers and independent securities valuations services, costs and expenses incurred for research services and publications, including legal fees for investment-related research, banking and
consulting fees relating to investments or proposed investments, travel expenses incurred in connection with transaction diligence and investment monitoring (including, without limitation, for Portfolio Company board meetings and meetings with
Portfolio Company management), taxes applicable to the Partnership on account of its operations, fees and expenses incurred in connection with the maintenance of bank or custodian accounts, and all expenses incurred in connection with the
registration of Securities owned by the Partnership under applicable securities laws or regulations. The Partnership shall also bear expenses incurred by the General Partner in serving as the Partnership Representative (as described in paragraph
11.6), the cost of liability and other insurance premiums, all out-of-pocket expenses of preparing and distributing reports to Partners (including costs associated with
the maintenance of the Reporting Site), out-of-pocket costs associated with Partnership meetings, all legal, accounting, tax, audit and other professional service fees
and expenses relating to the Partnership and its activities, all costs and expenses incurred by the Partnership in connection with actual, threatened or otherwise anticipated litigation, mediation, arbitration or other dispute resolutions processes
or in connection with defending any enforcement action or litigation associated with any Trigger Event, including any judgment, award or settlement entered into connection with any of the foregoing (provided that the foregoing shall not include any
costs, expenses, judgments, awards or settlements relating to other Affiliated Funds), all costs and expenses arising out of the Partnership’s indemnification obligation pursuant to this Agreement, and all expenses that are not normal operating
expenses. 
 (c) The Partnership shall bear all organizational and syndication costs, fees, and expenses incurred by the General
Partner or on behalf of the Partnership in connection with the Conversion and the formation and organization of the Partnership and the General Partner, including legal and accounting fees and expenses incident thereto, up to a maximum of $250,000.

 (d) The Partnership shall bear all liquidation costs, fees, and expenses incurred by the General Partner (or its designee) or any
liquidator in connection with the liquidation of the Partnership at the end of the Partnership’s term, specifically including but not limited to legal and accounting fees and expenses. 

  
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 ARTICLE 7 

WITHDRAWALS BY AND DISTRIBUTIONS TO THE PARTNERS 

7.1 Interest. No interest shall be paid to any Partner on account of its interest in the capital of or on account of its investment in
the Partnership. 
 7.2 Withdrawals by the Partners. No Partner may withdraw any amount from its Capital Account unless such
withdrawal is made pursuant to this Article 7 or Article 10. 
 7.3 Limited Partners’ Obligation to Repay or Restore. Except as
required by law or as otherwise provided in this Agreement, no Limited Partner shall be obligated at any time to repay or restore to the Partnership all or any part of any distribution made to it from the Partnership in accordance with the terms of
this Article 7. 
 7.4 Tax Distributions. Subject to the maintenance of reasonable cash reserves (as determined and established
at the discretion of the General Partner), each Partner shall be paid in cash within ninety (90) days after the end of each fiscal year during the term of the Partnership an amount equal to the excess, if any, of (a) the aggregate state
and federal income and other tax liability (including, to the extent applicable, Medicare or self-employment taxes) such Partner would have incurred as a result of such Partner’s ownership of an interest in the Partnership for all prior fiscal
years, calculated as if (i) such Partner were a natural person resident in the state of Utah and taxable at the maximum ordinary, capital gains and other applicable tax rates provided for under applicable federal and Utah state tax laws
excluding the effect of all limitations, phase-outs, alternative minimum tax and specialized state tax deductions (the “Applicable Tax Rate”), and (ii) allocations from the Partnership were the sole source of income and
loss for such Partner (for the avoidance of doubt, disregarding any Performance Fees paid to the General Partner), over (b) all prior distributions to such Partner made pursuant to this paragraph 7.4 or paragraphs 7.5 or 7.6 through the end of
the fiscal year (but excluding any distributions pursuant to this paragraph 7.4 made in respect of the prior fiscal year); provided, that the General Partner shall not be required to make any such distribution if the total amount to be distributed
to all Partners is less than $500,000. Further, the General Partner shall have the authority, in its sole discretion, to make good faith estimates of amounts expected to be distributable pursuant to the preceding sentence with respect to a given
calendar year and distribute such estimated amounts to the Partners as advances within a reasonable period of time following every calendar quarter. Distributions made pursuant to this paragraph 7.4 shall be treated as advances of, and shall count
against, distributions that would otherwise be made pursuant to the provisions of paragraph 7.5 below. In addition, the General Partner shall receive a one-time tax distribution in an amount equal to 45% of
the fair market value of the initial grant of the 1% interest in the Partnership to the General Partner, which distribution shall be for the avoidance of doubt be treated as an advance of, and shall count against, distributions that would otherwise
be made pursuant to the provisions of paragraph 7.5 below. 
 7.5 Other Cash Distributions. In addition to any distributions made
pursuant to paragraph 7.4 above, the General Partner shall from time to time make distributions of cash proceeds from the sale of Portfolio Company Securities, other than cash which is required for reasonable working capital requirements of the
Partnership, in the following proportions: 

  
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 (a) First, an amount equal to the Reference NAV for the applicable Portfolio Company
to all Partners in proportion to their respective Partnership Percentages; and 
 (b) Thereafter, any remainder to all Partners in
proportion to the relative net amounts that have been allocated (or are expected be allocated) to them with respect to such Portfolio Company pursuant to paragraph 5.1(a) but that have not yet been distributed. 

7.6 Withholding Obligations. 

(a) If and to the extent the Partnership is required by law to withhold or to make any tax payments on behalf of or with respect to any
Partner (“Tax Payments”), the Partnership shall withhold such amounts and make such Tax Payments as so required, and either (i) such Partner’s proportionate share of any current or future distribution shall be
reduced by the amount of such Tax Payments (provided that, for all other purposes of this Agreement, such Partner shall be treated as having received such amount of the distribution that is reduced by the Tax Payments), or (ii) such
Partner shall pay to the Partnership an amount of cash equal to such Tax Payments. The obligations of a Partner set forth in this paragraph 7.7(a) shall survive the withdrawal of a Partner from the Partnership or any transfer of a Partner’s
Partnership Interest. 
 (b) Each Limited Partner will, as applicable, take such actions as are required to establish to the
reasonable satisfaction of the General Partner that the Limited Partner is (i) not subject to the withholding tax obligations imposed by Section 1471 of the Code and (ii) not subject to the withholding tax obligations imposed by
Section 1472 of the Code. In addition, each Limited Partner will assist the Partnership and the General Partner with any applicable information reporting or other obligation imposed on the Partnership, the General Partner, or their respective
Affiliates, pursuant to FATCA. For purposes of this Agreement, “FATCA” shall mean the Foreign Account Tax Compliance provisions enacted as part of the U.S. Hiring Incentives to Restore Employment Act of 2010 and codified in
Sections 1471 through 1474 of the Code, all rules, regulations and other guidance issued thereunder, all administrative and judicial interpretations thereof, and all intergovernmental agreements and implementing legislation with respect thereto.

 7.7 Overriding Limitation on Distributions. Notwithstanding anything to the contrary contained in this Agreement, the Partnership,
and the General Partner on behalf of the Partnership, shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Act or other applicable law. 

  
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 ARTICLE 8 

MANAGEMENT DUTIES AND RESTRICTIONS 

8.1 Management; Transition Matters. 

(a) The General Partner shall have the sole and exclusive right to manage, control, and conduct the affairs of the Partnership and to do
any and all acts on behalf of the Partnership; provided that the General Partner shall not make any tax elections (other than an election to adjust the tax basis of Partnership assets) or revoke such elections without Overstock’s consent.
Notwithstanding any other provision of this Agreement and not in limitation of the generality of the foregoing, without the consent of any person being required, the Partnership is hereby authorized to execute, deliver and perform, and the General
Partner, for itself and on behalf of the Partnership, is hereby authorized to execute and deliver, (a) a subscription agreement with each Limited Partner; (b) an agreement with the Management Company for the provision of certain
management, administrative, investment advisory, operational and other services with respect to the Partnership on terms to be determined and agreed to by the General Partner, provided that the General Partner shall remain ultimately
responsible for the overall management of the Partnership and for its duties and responsibilities hereunder; and (c) any amendment and any agreement, document or other instrument contemplated thereby or related thereto. In furtherance of clause
(b) above, the General Partner is expressly authorized, for, in the name and on behalf of the Partnership, to enter into an agreement (the “Management Services Agreement”) with the Management Company, the terms of which
shall be as determined by the General Partner; provided, however, that the Partnership shall not be liable for any additional cost or expense solely by reason of any term in the Management Services Agreement; provided, further, that
the Management Services Agreement shall not contain any term or provision that is inconsistent with this Agreement; and provided, further, that each Limited Partner hereby consents in advance to the assignment of the Management Services
Agreement to another Affiliate of the General Partner. Notwithstanding anything to the contrary in this Agreement, the Management Company may be entitled to all or a portion of the management fee payable to the General Partner pursuant to paragraph
6.1, if provided by the terms of the Management Services Agreement, but shall not otherwise be compensated, reimbursed or otherwise paid by the Partnership for its services. 

(b) In connection with the Conversion, Overstock shall ensure that the General Partner shall be provided with (1) all stock
certificates and other evidences of ownership of the Securities held by the Corporation as of the Formation Date and (2) all books and records of the Corporation, including, without limitation, all agreements governing the rights and
obligations associated with such Securities. Upon reasonable request from the General Partner, Overstock shall use its commercially reasonable efforts to provide any information or materials relating to the Corporation required by the General
Partner in connection with the management of the Partnership and to otherwise assist with the transition of control of the affairs of the Corporation to the General Partner in connection with the Conversion. 

8.2 No Control by the Limited Partners; No Withdrawal. The Limited Partners shall take no part in the control or management of the
affairs of the Partnership nor shall the Limited Partners have any authority to act for or on behalf of the Partnership or to vote on any matter relative to the Partnership and its affairs except as is specifically permitted by this Agreement or the
Act. The exercise of any of the rights and powers of the Limited Partners pursuant to the Act or the terms of this Agreement shall not be deemed to be taking part in the
day-to-day affairs of the Partnership or the exercise of control over Partnership affairs. Except as specifically set forth in this Agreement, no Limited Partner shall
withdraw or be required to withdraw from the Partnership. 
 8.3 Sale or Disposition of Group A Portfolio Company Securities. For a
period of three years commencing on the Formation Date, no Sale of Securities of any Group A Portfolio Company shall be made unless such Sale would generate Proceeds of at least the Threshold NAV of such Portfolio Company. 

  
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 8.4 Time Devotion; Other Activities. 

(a) The Original Manager and any other managers of the General Partner shall collectively devote such time as is reasonably necessary to
conduct the affairs of the Partnership. 
 (b) The Limited Partners: (i) acknowledge that the General Partner and its Affiliates
and their respective stockholders, members, managers, employees and agents are or may be involved in other financial, investment and professional activities, including: management of or participation in other investment funds; venture capital,
private equity and secondary investing; purchases and sales of Securities; investment and management counseling; otherwise making investments or presenting investment opportunities to third parties; and serving as officers, directors, advisors,
consultants and agents of other entities; and (ii) agree that the General Partner and its Affiliates and their respective stockholders, members, managers, employees and agents may engage for the accounts of others in any such ventures and
activities (without regard to whether the interests of such ventures and activities conflict with those of the Partnership). The Partnership or any Limited Partner shall not have any right, by virtue of this Agreement or the existence of the
Partnership or otherwise, in and to such ventures or activities or to the income or profits derived therefrom, and the General Partner and its Affiliates and their respective stockholders, members, managers, employees and agents shall have no duty
or obligation to make any reports to the Limited Partners or the Partnership with respect to any such ventures or activities. 
 8.5
Investment Opportunities and Restrictions. 
 (a) Subject to the right of participation described in paragraph 8.5(b), the General
Partner and each of its managers shall first offer to the Partnership all investment opportunities relating to Target Companies until such time as substantially all of the Partnership’s Committed Capital has been invested, or reserved or
committed for investment, in portfolio companies, or applied, reserved or committed for Partnership expenses (such condition referred to as “Full Deployment”). To the extent that Full Deployment is reached and the General
Partner determines in good faith that additional capital will be required to support the Partnership’s Portfolio Companies, the General Partner shall provide the Limited Partners the opportunity to increase the Partnership’s Committed
Capital by up to $30,000,000, as contemplated in paragraph 3.2(c). 
 (b) If the Partnership has achieved Full Deployment (after
providing the Limited Partners the opportunity to increase the Partnership’s Committed Capital) or has participated in any such investment opportunity to the full extent deemed prudent by the General Partner, as determined in its reasonable
discretion, any remaining portion of such investment opportunity may be offered to other private investors, groups, partnerships, or corporations (including Affiliated Funds, which may include special purpose vehicles formed to participate in one or
more such opportunities) whenever the General Partner, in its discretion, so determines. 

  
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 (c) Without the prior approval of a Majority in Interest of the Limited Partners, the
Partnership may not purchase Securities from, sell Securities to or borrow money from the General Partner, the Management Company or any of their respective Affiliates. 

(d) The Partnership shall not engage in speculative trading or enter into any uncovered puts, calls or similar derivative instruments,
or sell Securities short, or otherwise engage in uncovered transactions; provided, however, the Partnership may engage in covered transactions, such as selling short against the box or establishing collars, for purposes of hedging the return
from any investment. 
 8.6 Overstock Representations and Indemnification. 

(a) Overstock represents and warrants to the General Partner as of the time immediately prior to the Conversion as set forth below. 

(i) The Corporation is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.

 (ii) A complete listing of all Securities held by the Corporation immediately prior to the Conversion is set forth on
Exhibit B hereto. The Corporation has good and marketable title to such Securities, in each case subject to no mortgage, pledge, lien, lease, encumbrance or charge other than Permitted Liens (as defined in the Transaction Agreement).

 (iii) Immediately prior to the Conversion, Overstock is the sole holder of 95% of the equity or debt securities of the
Corporation. 
 (iv) 

(1) Overstock has made available to the General Partner (a) the information with respect to the Corporation and to tZERO included
in the “Business Segments” note to Overstock’s most recently available and audited financial statements filed with the Securities and Exchange Commission (“SEC”) and (b) the “Business Segments”
note to in Overstock’s most recent available quarterly unaudited financial statements filed with the SEC (together, the “Segment Information”). The audited annual financial statements and unaudited quarterly financial
statements in which the Segment Information is included were prepared in accordance with U.S. generally accepted accounting principles applied on a consistent basis throughout the periods indicated, except as disclosed therein, and presents fairly,
in all material respects, the financial position of Overstock as of the respective dates of the latest balance sheets included in the financial statements. 

(2) Overstock has made available to the General Partner (a) the most recent annual internal financial information of the
Corporation and (b) the most recent quarterly internal financial information of the Corporation (together, the “Internal Information”). The Internal Information has been prepared by the Corporation in the ordinary course
of its financial reporting, it being understood that the Internal Information does not comply with and is not presented in accordance with U.S. generally acceptable accounting principles. The Internal Information accurately reflects the information
therein in all material respects. 

  
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 (3) Overstock has made available to the General Partner (a) tZERO’s most
recently prepared annual audited balance sheet (the date of the latest balance sheet included therein, the “Audit Date”) and audited statement of income and cash flows, and (b) tZERO’s most recently prepared
unaudited quarterly balance sheet (the date of the latest balance sheet included therein, the “Current Statement Date”) and unaudited consolidated statement of income and cash flows for the period from the Audit
Date through the Current Statement Date (collectively, the “Financial Statements”). The Financial Statements, together with the notes thereto, have been prepared in accordance with generally accepted accounting principles
applied on a consistent basis throughout the periods indicated, except as disclosed therein, and present fairly in all material respects the financial position of the Corporation as of Audit Date and the Current Statement Date. 

The Corporation has no material liabilities and, to the best of its knowledge, knows of no material contingent liabilities not disclosed in the Segment
Information, the Internal Information, the Financial Statements or Schedule C hereto. 
 (v) Except as disclosed in the
Segment Information, the Internal Information or the Financial Statements and Schedule C hereto, there is no action, suit, proceeding or investigation pending or, to Overstock’s knowledge, currently threatened in
writing (or in a manner otherwise consistent with a legitimate legal claim) against the Corporation that would reasonably be expected to result, either individually or in the aggregate, in any material adverse change of the Corporation or its
business, financially or otherwise, or any change in the current equity ownership of the Corporation, nor is Overstock aware that there is any basis for any of the foregoing. The Corporation is not a party or, to its knowledge, subject to the
provisions of any material order, writ, injunction, judgment or decree of any court or government agency or instrumentality. There is no material action, suit, proceeding or investigation by the Corporation currently pending or which the Corporation
intends to initiate. 
 (vi) The Corporation has filed all material tax returns (federal, state and local) required to be filed by
it. These returns and reports are true and correct in all material respects. All taxes shown to be due and payable on such returns, any assessments imposed, and to the Corporation’s knowledge all other taxes due and payable by the Corporation
on or before the Conversion, have been paid or will be paid when due in all material respects. Except as disclosed in the Segment Information, the Internal Information or the Financial Statements, the Corporation has no knowledge of any material
liability of any tax to be imposed upon its properties or assets as of the date of this Agreement that is not adequately provided for. 

(vii) All corporate action on the part of the Corporation, its officers, directors and stockholders necessary for the authorization of
the Conversion pursuant to the Corporation’s certificate of incorporation, bylaws and the DGCL has been taken. 
 (viii) The
Corporation is not in violation or default of any term of its charter documents, each as amended, or of any provision of any mortgage, indenture, contract, agreement, instrument or contract to which it is party or by which it is bound or of any
judgment, decree, order or writ other than any such violation or default that would not have a material adverse effect on the Corporation. The Conversion will not, with or without the passage of time or giving of notice, result in any such material
violation, or be in conflict with or constitute a material default 

  
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under any such term, or result in the creation of any material mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of the Corporation or the suspension, revocation,
impairment, forfeiture or nonrenewal of any material permit, license, authorization or approval applicable to the Corporation, its business or operations or any of its assets or properties. 

(b) Overstock shall indemnify and hold harmless the General Partner, its Affiliates and their respective directors, officers, managers,
equity owners, employees, Affiliates, agents, attorneys, representatives, successors and permitted assigns, as applicable (collectively, the “Overstock Indemnified Parties”), from and against any and all actual losses,
claims, damages, costs and expenses incurred by any or all of them resulting or arising from (i) any breach or inaccuracy of any representation of Overstock in this paragraph 8.6 and (ii) any breach of or failure to perform any covenant or
agreement made by Overstock in paragraph 8.1(b); provided, that recourse against Overstock under this paragraph 8.6(b) shall be limited to the aggregate amount of its economic entitlements in respect of its interest in the Partnership (including
amounts previously distributed by the Partnership to Overstock). 
 8.7 CFIUS. 

(a) The General Partner is hereby authorized to take such actions as may be necessary to ensure that (i) the Partnership’s
Portfolio Investments will not constitute Covered Transactions and (ii) the Partnership will not be considered a Foreign Person. For the avoidance of doubt, however, the General Partner shall be under no obligation to (A) cause the
Partnership to forego an investment that would constitute a Covered Transaction or (B) take any action to ensure the Partnership is not considered a Foreign Person. To the extent the Partnership is, or becomes, a Foreign Person, or enters
into a Covered Transaction, the General Partner shall seek to manage the affairs of the Partnership in a manner that manages any CFIUS risk related to the Portfolio Investments. Accordingly, notwithstanding any provision of this Agreement to
the contrary, the General Partner may manage the affairs of the Partnership as it determines to be necessary or appropriate to ensure that the Partnership does not qualify as a Foreign Person, and in furtherance thereof, the General Partner may, at
any time and in its sole discretion, reduce or revise the powers of any Limited Partner, in each case as may be necessary or advisable for the Partnership, the General Partner or its Affiliates to address ongoing legal or regulatory issues affecting
its investment activities or otherwise, including but not limited to those that may be imposed by the DPA, FIRRMA and the CFIUS Regulations. 

(b) A Limited Partner shall be deemed to be a Foreign Person Limited Partner for purposes of this Agreement (i) upon any
determination by the General Partner that such Limited Partner is a Foreign Person Limited Partner hereunder, or (ii) if such Limited Partner is a Foreign Person under the DPA. Each Limited Partner acknowledges and agrees that (A) it
has accurately responded to the questions in the section labeled “CFIUS Foreign Person Status Representations” in its Subscription Agreement and Investor Questionnaire (the “Subscription Agreement”) and (B) it
will promptly provide notice of any changes to its status that would alter the responses provided in its Subscription Agreement. Each non-Foreign Person Limited Partner acknowledges and agrees that it
shall not accept any investment or engage in any activity that would cause it to become a Foreign Person without providing advance written notice to the General Partner. Whether or not such notice is provided, any
non-Foreign Person Limited Partner that becomes a Foreign Person acknowledges and agrees that upon such change in status it will immediately become a Foreign Person Limited Partner subject to the restrictions
in this paragraph 8.7. 

  
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 (c) Notwithstanding anything to the contrary in this Agreement, and except as the
General Partner shall, in its sole discretion, otherwise determine, each Foreign Person Limited Partner acknowledges and agrees that neither it nor any of its CFIUS Affiliates shall: 

(i) have the authority to approve, disapprove, or otherwise control any decision of the General Partner, including any decision of the
Partnership to engage in a Portfolio Investment; 
 (ii) have the authority to unilaterally dismiss, prevent the dismissal of,
select, or determine the compensation of the General Partner; 
 (iii) communicate with the Partnership, any Portfolio Investment or
the management thereof regarding the day-to-day operations of its business; 

(iv) become actively involved, directly or indirectly, in the management or operation of the Partnership or any Portfolio Investment;

 (v) serve as an employee of, or contractor to, the Partnership or any Portfolio Investment; 

(vi) obtain or seek to obtain access to Material Nonpublic Technical Information of the Partnership or any Portfolio Investment; 

(vii) obtain or seek to obtain membership or observer rights on the board of directors or equivalent governing body of any Portfolio
Investment; 
 (viii) become involved with or engage in any substantive decision-making of the Partnership or any Portfolio
Investment regarding U.S. critical infrastructure, critical technologies, or sensitive personal data as defined under the DPA and the CFIUS Regulations; 

(ix) become involved with or engage in the purchase, lease, or concession of U.S. real estate by the Partnership or any Portfolio
Investment; 
 (x) without written notice to the General Partner independently invest in any Portfolio Investment; or 

(xi) without the written consent of the General Partner, maintain any other relationship to the Partnership or any Portfolio
Investment, including service as a director, officer, or in another management or decision-making role, other than (A) the relationship with the Partnership permitted under this Agreement and (B) ordinary course, independent commercial
relationships with Portfolio Investments. 
 (d) Each Limited Partner agrees that it shall notify the General Partner within fifteen
(15) days of the date upon which it becomes aware that any foreign government holds a Substantial Interest in it or its CFIUS Affiliates. 

  
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 (e) Each Limited Partner acknowledges and agrees that it shall provide the
information requested by the General Partner from time to time in order for the General Partner to make determinations regarding this paragraph 8.7 and the DPA. Each Limited Partner acknowledges and agrees that such information may include such
Limited Partner’s (and its CFIUS Affiliates’) holdings, investments, and relationships. Each Limited Partner acknowledges and agrees that it shall cooperate with the General Partner with respect to any reporting and disclosure
requirements imposed upon the Partnership under the DPA or by CFIUS, and shall cooperate with the General Partner to use reasonable best efforts to provide relevant information requested by CFIUS or other U.S. government authorities on behalf of and
on matters related to CFIUS. 
 (f) The Partners acknowledge and agree that the General Partner may determine that it is in the best
interests of the Partnership or any of the Partners to allocate profits and/or losses from a particular Portfolio Investment away from a Foreign Person Limited Partner, or to otherwise isolate any Foreign Person Limited Partner from one or more
Portfolio Investments, in each case in order to reduce the likelihood of the Partnership entering into or having been deemed to have entered into a Covered Transaction. In the event of such determination, the General Partner is hereby
authorized to take all such actions as may be necessary to effect the foregoing. 
 (g) Each Limited Partner acknowledges and agrees
that it shall cooperate with the Partnership in any such action as the General Partner deems necessary in the General Partner’s sole discretion to address ongoing legal or regulatory issues affecting the Partnership’s investment activities
or otherwise, including but not limited to those that may be imposed by the DPA and CFIUS Regulations. 
 (h) Notwithstanding anything
to the contrary contained in this Agreement, the General Partner shall be authorized without the consent of any person, including any Partner, to take such action as it determines in its sole discretion to be necessary or advisable to address
ongoing legal or regulatory issues affecting the Partnership’s investment activities or otherwise, including but not limited to those that may be imposed by the DPA and CFIUS Regulations. 

(i) Each Foreign Person Limited Partner shall, to the maximum extent permitted by applicable law, indemnify and hold the Partnership and
each Indemnified Party harmless from and against any loss, claim, demand, cost, expense of any nature, judgment, penalty, settlement, compromise, damage, injury suffered or sustained, or any other amount, of any nature whatsoever, known or unknown,
liquid or illiquid, suffered by the Partnership or any such Indemnified Party arising, directly or indirectly, from such Foreign Person Limited Partner’s breach of any of the provisions of this Agreement applicable to Foreign Person Limited
Partners, or to any inaccuracy in its response to the questions in the section labeled “CFIUS Foreign Person Status Representations” in its Subscription Agreement. The General Partner shall be held harmless for any of its acts and
omissions in connection with the enforcement of the provisions of this paragraph 8.7, and neither the Partnership nor any Indemnified Party shall be liable to the Foreign Person Limited Partner or to any other Partner in connection with:
(i) any determination of Foreign Person status; or (ii) any other matter related to the DPA or CFIUS Regulations. 

  
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 8.8 Subscription Facilities. 

(a) Subject to paragraph 8.5(c), the General Partner shall be authorized to incur indebtedness (both prior to and after the initial
Capital Commitment) under such terms as it may elect. In connection therewith, the General Partner shall be authorized to pledge, charge, mortgage, assign, transfer and grant security interests to a lender in (i) all Capital Commitments of the
Limited Partners, the General Partner’s right to initiate capital calls (excluding, for the avoidance of doubt, any requests to return distributions pursuant to paragraph 4.2(c)(ii)) and collect such capital contributions of the Limited
Partners and to enforce their obligations to make such capital contributions to the Partnership, (ii) the Limited Partners’ Subscription Agreements with the Partnership and the Limited Partners’ obligations to make capital
contributions thereunder and (iii) a Partnership collateral account into which capital contributions by the Limited Partners of their uncalled Capital Commitments may be made; provided that any such pledge, charge, mortgage, assignment,
transfer or grant of security interests on behalf of the Partnership shall provide security solely for the obligations of the Partnership and not for those of any other affiliated investment funds (any such financing in which any such security is
granted, a “Subscription Facility”; any lender under a Subscription Facility, a “Secured Lender”). 

(b) Each Limited Partner understands, acknowledges and agrees, in connection with any Subscription Facility, that: (i) it shall
remain absolutely and unconditionally obligated to fund capital contributions duly called by the General Partner or by the applicable Secured Lender under a Subscription Facility (including, without limitation, those required as a result of the
failure of any other Limited Partner to advance funds with respect to a call for a capital contribution), without, to the fullest extent permitted by law, setoff, counterclaim or defense, including without limitation any defense of fraud or mistake,
or any defense under any bankruptcy or insolvency law, including Section 365 of the Bankruptcy Code, 11 U.S.C. § 365, subject in all cases to the Limited Partners’ rights to assert such claims against the Partnership, the General
Partner or any other Partner in one or more separate actions; provided that any such claims shall be subordinate to all payments due to the applicable Secured Lender under a Subscription Facility; (ii) its Subscription Agreement with the
Partnership and this Agreement constitute such Limited Partner’s legal, valid and binding obligation, enforceable against such Limited Partner in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization,
moratorium, or other laws affecting creditors’ rights generally and to general principles of equity; and (iii) the applicable Secured Lender under the Subscription Facility shall be extending credit to the Partnership in reliance on such
Limited Partner’s funding of its capital contributions as such lender’s primary source of repayment. 
 (c) Any Secured
Lender shall be entitled to enforce the provisions of this paragraph 8.8 as an intended third-party beneficiary of the terms hereof. 

  
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 ARTICLE 9 

INVESTMENT REPRESENTATION AND TRANSFER 

OF PARTNERSHIP INTERESTS 

9.1 Investment Representation of the Limited Partners. This Agreement is made with each of the Limited Partners in reliance upon each
Limited Partner’s representation to the Partnership, which by executing this Agreement each Limited Partner hereby confirms, that its interest in the Partnership is to be acquired for investment, and not with a view to the sale or distribution
of any part thereof, and that it has no present intention of selling, granting participation in, or otherwise distributing the same, and each Limited Partner understands that its interest in the Partnership has not been registered under the
Securities Act and that any transfer or other disposition of the interest may not be made without registration under the Securities Act or pursuant to an applicable exemption therefrom. Each Limited Partner further represents that it does not have
any contract, undertaking, agreement, or arrangement with any person to sell, transfer, or grant participations to such person, or to any third person, with respect to its interest in the Partnership. 

9.2 Qualifications of the Limited Partners. Each Limited Partner represents that it is an “accredited investor” within the
meaning of that term as defined in Regulation D promulgated under the Securities Act. 
 9.3 Transfer by General Partner. Except as
provided in paragraph 9.7 below, the General Partner may not voluntarily withdraw from the Partnership. Further, the General Partner shall not sell, assign, mortgage, pledge or otherwise dispose of its interest in the Partnership or in its capital
assets or property. Notwithstanding the foregoing, in no event shall the General Partner make any transfer of an interest in the Partnership that would result in any of the events specified in subparagraphs 9.5(a) through 9.5(j). 

9.4 Transfer by Limited Partner. 

(a) No Limited Partner shall, directly or indirectly, sell, assign, pledge, mortgage, or otherwise dispose of or transfer (including by
way of a synthetic transfer, total return swap or structured transaction designed to provide another party with economic exposure to the Partnership’s investments) its interest in the Partnership without the prior written consent of the General
Partner. Notwithstanding the foregoing, after delivery of the opinion of counsel hereinafter required by this Article 9 (or the waiver by the General Partner of such opinion requirement), a Limited Partner may sell, assign, pledge, mortgage, or
otherwise dispose of or transfer its interest in the Partnership without such consent (i) to any creditworthy entity directly or indirectly holding eighty percent (80%) or more of the ownership interests of the Limited Partner (including
profits or other economic interests) (a “Parent Entity”) or any entity of which eighty percent (80%) or more of the beneficial ownership (including profits or other economic interests) are held directly or indirectly by such
Parent Entity, or any entity of which the Limited Partner holds, directly or indirectly, eighty percent (80%) or more of the beneficial ownership (including profits or other economic interests); (ii) pursuant to a merger, consolidation, business
combination, plan of reorganization, sale or pledge of, or other general encumbrance on all or substantially all of the Limited Partner’s assets; (iii) as may be required by any law or regulation; (iv) by testamentary disposition or
intestate succession, or (v) to a creditworthy trust, profit sharing plan or other entity controlled by, or for the benefit of, such Limited Partner or one or more family members. A change in any trustee or fiduciary of a Limited Partner shall
not be considered to be a transfer, sale, assignment, mortgage, pledge or other disposition under this paragraph 9.4, provided written notice of such change is given to the General Partner within a reasonable period of time after the
effective date thereof. The General Partner reserves the right to require any transferring or transferee Partner to bear any expenses associated with a proposed transfer (whether or not ultimately consummated) and any tax reporting and preparation
costs resulting from such Partner’s transfer (including, without limitation, expenses related to effecting adjustments to the basis of Partnership property required as a result of such transfer). 

  
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 (b) Each Limited Partner hereby agrees and covenants that it shall not make an
election under Section 732(d) of the Code with respect to property distributed to it by the Partnership without the prior written consent of the General Partner. The General Partner may, but shall not be obligated to, cause the Partnership to
make an election under Section 754 of the Code or an election to be treated as an “electing investment partnership” within the meaning of Section 743(e) of the Code. If the Partnership elects to be treated as an electing
investment partnership, each Limited Partner shall (i) cooperate with the Partnership to maintain such status, (ii) not take any action that would be inconsistent with such election, (iii) provide the General Partner with any
information necessary to allow the Partnership to comply with its obligations to make tax basis adjustments under Sections 734 or 743 of the Code and its tax reporting and other obligations as an electing investment partnership, and
(iv) provide the General Partner and such Limited Partner’s transferee, promptly upon request, with the information required under Section 6031(b) of the Code or otherwise to be furnished to the Partnership or such transferee,
including such information as is necessary to enable the Partnership and such transferee to compute the amount of losses disallowed under Section 743(e) of the Code. Whether or not the Partnership makes such election, promptly upon request,
each Limited Partner shall provide the General Partner with any information related to such Partner necessary to allow the Partnership to comply with its obligations to make tax basis adjustments under Sections 734 or 743 of the Code. If the
transfer of a Limited Partner interest results in an adjustment to the basis of Partnership property, the General Partner may, in its sole discretion, require the transferring Limited Partner or the transferee Limited Partner, or both, to promptly
reimburse the Partnership and/or the General Partner upon request for any expenses (including, without limitation, accounting fees) reasonably incurred by the Partnership and/or the General Partner (and their respective Affiliates) related to
effecting adjustments to the basis of Partnership property and any additional tax reporting or preparation costs resulting from such transfer. 

9.5 Requirements for Transfer. No transfer or other disposition of the interest of a Limited Partner shall be permitted until the
General Partner shall have received an opinion of counsel satisfactory to it (or waived such requirement) that the effect of such transfer or disposition would not: 

(a) result in the Partnership’s assets being considered, in the opinion of counsel for the Partnership, as “plan assets”
within the meaning of ERISA, or any regulations proposed or promulgated thereunder; 
 (b) result in violation of the Securities Act
or any comparable state law; 
 (c) require the Partnership to register as an investment company under the Investment Company Act of
1940, as amended from time to time; 
 (d) require the Partnership, the General Partner, the Management Company or any member of the
General Partner or the Management Company to register as an investment adviser under the Investment Advisers Act of 1940, as amended; 

  
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 (e) result in a termination of the Partnership’s status as a partnership for tax
purposes; 
 (f) result in a violation of any law, rule, or regulation by the Limited Partner, the Partnership, the General Partner,
or any member of the General Partner; 
 (g) cause the Partnership to be deemed to be a “publicly traded partnership” as
such term is defined in Section 7704(b) of the Code; or 
 (h) cause the Partnership, the General Partner, or any Affiliate of
the General Partner to be required to register under and/or comply with the provisions of the European Union Directive 2011/61/EU on Alternative Investment Fund Managers; 

(i) result in a withholding tax obligation imposed on the General Partner or the Partnership under Section 1446(f) of the Code; or

 (j) result in a violation of this Agreement. 

Such legal opinion shall be provided to the General Partner by the transferring Limited Partner or the proposed transferee. For the avoidance
of doubt, a legal opinion provided by the Limited Partner’s internal or in-house counsel, to the extent such counsel is reasonably experienced with the subject matter of such opinion, shall be acceptable
to satisfy this paragraph 9.5. Upon request the General Partner will use its good faith diligent efforts to provide any information possessed by the Partnership and reasonably requested by a transferring Limited Partner to enable it to render the
foregoing opinion. Notwithstanding any provision of this Article 9 to the contrary, the General Partner may, in its sole discretion, waive the requirement of an opinion of counsel provided for in this paragraph 9.5. In the case of a
transfer or other disposition of an interest by Overstock, the General Partner shall not require delivery of a legal opinion if Overstock provides sufficient representations with respect to such transfer or disposition to confirm that none of the
consequences described in clauses (a) – (j) above shall arise in connection with such transfer. Any costs associated with the transfer of a Limited Partner’s interest, including the costs associated with any legal opinion required
hereunder, shall be borne by the transferring Limited Partner or the proposed transferee. 
 9.6 Substitution as a Limited Partner. A
transferee of a Limited Partner’s interest pursuant to this Article 9 shall become a substituted Limited Partner only with the consent of the General Partner and only if such transferee (a) elects to become a substituted Limited Partner
and (b) executes, acknowledges and delivers to the Partnership such other instruments as the General Partner may deem necessary or advisable to effect the admission of such transferee as a substituted Limited Partner, including, without
limitation, the written acceptance and adoption by such transferee of the provisions of this Agreement. No assignment by a Limited Partner of its interest in the Partnership shall release the assignor from its liability to the Partnership pursuant
to paragraph 4.2 hereof, provided that if the assignee becomes a Limited Partner as provided in this paragraph 9.6, the assignor shall thereupon so be released (in the case of a partial assignment, to the extent of such assignment). 

  
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 9.7 Resignation of the General Partner. 

(a) In the event of (w) the consent of a Majority in Interest of the Limited Partners and the consent of the General Partner,
(x) any Trigger Event, (y) any breach or inaccuracy of any representation of Overstock under paragraph 8.6(a) that would reasonably be expected to have a material adverse effect on the Partnership or the General Partner or (z) any
material breach of or failure to perform any covenant or agreement made by Overstock in paragraph 8.1(b) that remains uncured for more than thirty (30) days following notice to Overstock by the General Partner, the General Partner may elect to
resign as the general partner of the Partnership. The General Partner shall provide to the Limited Partners as much advance notice of any such prospective resignation due to a Trigger Event as is practicable under the circumstances. Following the
effectiveness of any such resignation, the resigning General Partner shall not be entitled to any rights or powers of a general partner of the Partnership; provided, however, that the resigning General Partner and any Indemnified Party (as
defined in paragraph 13.22 and further addressed in paragraph 14.4(a)) shall remain entitled to exculpation and indemnification pursuant to paragraphs 14.3 and 14.4 hereof with respect to any matter arising prior to or out of events or circumstances
existing prior to the General Partner’s resignation (specifically including any circumstances relating to the Trigger Event). The resigning General Partner shall no longer be required to make additional capital contributions pursuant to
paragraph 4.3 hereof. The resigning General Partner’s interest shall be converted to that of a non-voting Limited Partner with the same rights to allocations and distributions from the Partnership as in
effect to prior to such resignation. The removed General Partner shall not be entitled to receive any payments of management fee pursuant to paragraph 6.1 with respect to any period of time after the date of its resignation. With respect to any
Performance Fee payments arising pursuant to paragraph 6.2 after the date of such resignation, the Performance Fee shall be calculated as the Adjusted Performance Fee Percentage of the Excess Proceeds associated with the applicable Portfolio
Company. For purposes of the foregoing, the “Adjusted Performance Fee Percentage” shall be equal to the lesser of (x) 30% and (y) the product of 30% multiplied by a fraction (I) the numerator of which is the number
of months during the period from the Formation Date to the date of such resignation and (II) the denominator of which is 96. 
 (b)
In the event of the resignation of the General Partner pursuant to paragraph 9.7(a), the Limited Partners, acting by a Majority in Interest of the Limited Partners, shall be entitled to appoint a replacement General Partner. In the event of a
resignation following a Trigger Event, the General Partner agrees to work in good faith with the Limited Partners to identify a suitable replacement General Partner. Upon appointment of a replacement General Partner, (i) the replacement General
Partner shall be admitted to the Partnership as the general partner of the Partnership without any further action, approval or vote of any Person, including any other Partner, upon its execution of an instrument signifying its agreement to be bound
by the terms and conditions of this Agreement, effective immediately prior to the removal of the replaced General Partner and shall continue the business and other activities of the Partnership without dissolution; (ii) the replacement General
Partner shall promptly prepare and file or cause to be filed, with the assistance of the replaced General Partner if and to the extent reasonably requested, an amendment to the Certificate of Limited Partnership of the Partnership, and shall
promptly prepare and execute an amendment to this Agreement without any further action, approval or vote of any Person, including any other Partner, reflecting the admission of such replacement general partner, and the withdrawal of the replaced
General Partner as the general partner of the Partnership; and (iii) for all other purposes of this Agreement, the replacement general partner of the Partnership shall be deemed to be the “General Partner” hereunder. 

  
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 ARTICLE 10 

DISSOLUTION AND LIQUIDATION OF THE PARTNERSHIP 

10.1 Extension of Partnership Term. The General Partner may extend the Partnership term for a single additional one (1) year
period. During said extension period, the General Partner shall use its best efforts to convert the Partnership’s Nonmarketable Securities into Marketable Securities or cash, and all Securities that become Marketable Securities during such
period, and all cash in excess of working capital requirements shall, subject to the Act, be promptly distributed to the Partners. During such period, the General Partner may (i) purchase additional Securities of an existing Portfolio Company
if it deems such a purchase to be in the best interests of the Partnership and (ii) exchange the Securities of an existing Portfolio Company for other Securities. 

10.2 Early Termination of the Partnership. 

(a) The Partnership shall dissolve, and the affairs of the Partnership shall be wound up (1) at the end of the Partnership’s
term as set forth in paragraph 2.1 (as may be extended pursuant to paragraph 10.1) or (2) prior to the end of the Partnership’s term as set forth in paragraph 2.1 (as may be extended pursuant to paragraph 10.1) either: 

(i) Upon the resignation, withdrawal or final liquidation of the sole remaining general partner of the Partnership or other event of
withdrawal of the General Partner under Section 17-402 of the Act (as such definition is modified by paragraph 2.4 of this Agreement), unless (i) at such time there is at least one remaining general
partner that is authorized to, and that does, carry on the business of the Partnership, or (ii) a Majority in Interest of the Limited Partners elect, within ninety (90) days of such event, to continue the Partnership and appoint a new
general partner effective as of the date of such event; 
 (ii) upon the election of the General Partner in the event that all
Partnership assets have been distributed to the Partners in accordance with this Agreement; 
 (iii) at any time there are no limited
partners of the Partnership, unless the Partnership is continued in accordance with the Act; or 
 (iv) upon an entry of decree of
judicial dissolution of the Partnership pursuant to Section 17-802 of the Act. 
 (b) If
the Partnership is dissolved pursuant to the provisions of this paragraph 10.2, a Majority in Interest of the Partners shall elect one or more liquidators to manage the liquidation of the Partnership in the manner described in this Article 10. 

  
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 10.3 Winding Up Procedures. 

(a) Promptly upon dissolution of the Partnership (unless the Partnership is continued in accordance with this Agreement or the
provisions of the Act), the affairs of the Partnership shall be wound up and the Partnership liquidated. The closing Capital Accounts of all the Partners shall be computed as of the date of dissolution as if the date of dissolution were the last day
of an Accounting Period in accordance with Article 5, and all assets and liabilities of the Partnership shall be valued as of the date of dissolution. 

(b) Any Profit, Loss or expense for any period after the date of dissolution shall be allocated to the Partners in accordance with
Article 5. Distributions during the winding up period may be made in cash. The Partners acknowledge that the General Partner or other liquidator may acting in good faith cause the Partnership to sell or otherwise dispose of Securities at a price
below fair market value. The General Partner or the liquidator shall use its best judgment as to the most advantageous time for the Partnership to sell Securities. All cash shall be distributed ratably to the Partners in proportion to their
respective positive Capital Account balances, unless such distribution would result in a violation of a law or regulation applicable to a Limited Partner, in which event, upon receipt by the General Partner of notice to such effect, such Limited
Partner may designate a different entity to receive the distribution, or designate, subject to the approval of the General Partner, an alternative distribution procedure (provided such alternative distribution procedure does not prejudice any
of the other Partners). Any Security that the General Partner or other liquidator is not able to dispose of within the two years following the date of dissolution shall be valued at zero, shall not be distributed to the Partners and may be abandoned
(or donated) in such manner as the General Partner or other liquidator determines in its sole discretion. 
 10.4 Payments in Liquidation.
The assets of the Partnership shall be distributed in final liquidation of the Partnership in the following order: 
 (a) to the non-Partner creditors of the Partnership, in the order of priority established by law, either by payment or by establishment of reserves; 

(b) to the Partners, in repayment of any loans made to, or other debts owed by, the Partnership to such Partners, provided that such
loans or other debts are in writing; 
 (c) the balance, if any, to the General Partner and the Limited Partners in respect of the
positive balances in their Capital Accounts in compliance with Treasury Regulation Section 1.704-1(b)(2)(ii)(b)(2). 

10.5 Certificate of Cancellation. Upon completion of the winding up of the Partnership, the General Partner or the liquidator shall
execute, acknowledge and cause to be filed a certificate of cancellation of the Certificate of Limited Partnership with the Secretary of State of the State of Delaware. 

ARTICLE 11 
 FINANCIAL
ACCOUNTING AND REPORTS 
 11.1 Financial Accounting; Fiscal Year. 

(a) The books and records of the Partnership shall be kept in accordance with the provisions of this Agreement and, subject to paragraph
11.1(b), otherwise in accordance with generally accepted accounting principles consistently applied, and shall be audited at the end of each fiscal year by an independent public accountant of recognized national standing selected by the General
Partner. The Partnership’s fiscal year shall be the calendar year unless a different fiscal year is required by applicable Treasury Regulations. 

  
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 (b) Each Partner acknowledges and agrees that (i) the Partnership shall be
accounted for and reported as an investment company; (ii) in preparing the Partnership’s financial statements, the General Partner will apply the methodology described in Financial Accounting Standards Board Accounting Standards
Codification Topic 946, Financial Services—Investment Companies (“ASC 946”) and shall not consolidate the results of any Portfolio Companies with those of the Partnership; and (iii) if at any time the
Partnership’s independent public accountant determines that the Partnership does not qualify for ASC 946 treatment, such methodology shall still be applied, the General Partner will obtain a “Special Purpose” Audit Opinion under fair
value accounting, and the auditor’s opinion will indicate that the financial statements have been prepared on a basis of financial reporting of this Agreement, which is a basis other than the U.S. generally accepted accounting principles. 

11.2 Supervision; Inspection of Books. Proper and complete books of account of the Partnership, copies of the Partnership’s
federal, state and local tax returns for each fiscal year, the Schedule of Partners set forth in Exhibit A, this Agreement and the Partnership’s Certificate of Limited Partnership shall be kept
under the supervision of the General Partner at the principal office of the Partnership. Such books and records shall be open to inspection by the Limited Partners, or their accredited representatives, at any reasonable time during normal business
hours after reasonable advance notice. The General Partner shall retain a copy of such books and records for at least five (5) years after the final liquidation of the Partnership. 

11.3 Quarterly Reports. The General Partner shall transmit to the Limited Partners within forty-five (45) days after the close of
each of the first three quarters of each fiscal year, a summary of acquisitions and dispositions of investments made by the Partnership during such quarter, and a list of investments then held, together with a valuation of such investments. 

11.4 Annual Report; Financial Statements of the Partnership. The General Partner shall transmit to the Limited Partners audited
financial statements of the Partnership prepared in accordance with the terms of this Agreement and, subject to paragraph 11.1(b), otherwise in accordance with generally accepted accounting principles, including an income statement for the year then
ended and balance sheet as of the end of such year, a statement of changes in the Partners’ Capital Accounts, and a list of investments then held. The General Partner shall use commercially reasonable efforts to transmit such statements
within ninety (90) days after the close of the Partnership’s fiscal year and, if not delivered within 90 days, will cause such statements to be transmitted to the Limited Partners as soon as reasonably practicable after such 90 days. The
financial statements shall be accompanied by a report from the General Partner to the Limited Partners, which shall include (i) a status report on investments then held, (ii) a summary of acquisitions and dispositions of investments made
by the Partnership during the preceding quarter, (iii) a valuation of each such investment, and (iv) a brief statement on the affairs of the Partnership during the fiscal year then ended. The Limited Partners hereby acknowledge that the
General Partner’s ability to timely deliver the reports required by this paragraph 11.4 shall depend on the receipt by the Partnership of financial information from Portfolio Companies and other investment counterparties. 

  
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 11.5 Tax Returns. 

(a) The General Partner shall cause the Partnership’s federal, state and local tax returns and Internal Revenue Service Form 1065,
Schedule K-1, to be prepared and delivered to the Limited Partners within ninety (90) days after the close of the Partnership’s fiscal year. 

(b) Each Limited Partner hereby agrees and covenants that it shall not make an election under Section 732(d) of the Code with
respect to property distributed to it by the Partnership without the prior written consent of the General Partner. The General Partner may, but shall not be obligated to, cause the Partnership to make an election under Section 754 of the Code
or an election to be treated as an “electing investment partnership” within the meaning of Section 743(e) of the Code. If the Partnership elects to be treated as an electing investment partnership, each Limited Partner shall
(i) reasonably cooperate with the Partnership to maintain such status, (ii) shall not take any action that, to its knowledge, would be inconsistent with such election, (iii) use commercially reasonable efforts to provide the General
Partner with any information necessary to allow the Partnership to comply with its obligations to make tax basis adjustments under Sections 734 or 743 of the Code and its tax reporting and other obligations as an electing investment partnership, and
(iv) use commercially reasonable efforts to provide the General Partner and such Limited Partner’s transferee, promptly upon request, with the information required to enable the Partnership and such transferee to compute the amount of
losses disallowed under Section 743(e) of the Code, but in no event shall such Limited Partner be required to provide such information prior to its receipt of its Schedule K-1 for such taxable year,
except to the extent of information, if any, required by the Partnership to complete its Schedule K-1. Whether or not the Partnership makes such election, promptly upon request, each Limited Partner shall
provide the General Partner with any information related to such Partner necessary to allow the Partnership to comply with (a) its obligations to make tax basis adjustments under Sections 734 or 743 of the Code and (b) any other U.S.
federal income tax reporting obligations of the Partnership. 
 11.6 Partnership Representative. The General Partner shall be
designated the “partnership representative” within the meaning of Code Section 6223(a) (the “Partnership Representative”) and serve in that role, or as the Partnership’s “tax matters partner”
under any similar state and local provision of law. The General Partner shall be authorized to take any actions necessary under Treasury Regulations or other guidance to cause the General Partner to be designated as such, and the Limited Partners
shall take such other actions as may be requested by the General Partner to ratify or confirm such designation. As the Partnership Representative, the General Partner (i) shall, or shall cause the Partnership, to make a valid and timely
election provided in Section 6226(a) of the Code (and any applicable regulations or other guidance thereunder, and any corresponding state or local elections) in connection with any audit or other applicable proceeding and (ii) shall be
authorized to take any other actions, subject to Overstock’s consent, to allow the Partnership to comply with the partnership audit provisions of the Bipartisan Budget Act of 2015.The obligations of a Partner set forth in this paragraph 11.6
shall survive the withdrawal of a Partner from the Partnership or any transfer of a Partner’s Partnership Interest.  

  
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 11.7 Secure Portal Reporting. The General Partner shall be entitled, in its sole
discretion, to transmit the reports and statements described in paragraphs 11.3 and 11.4 (the “Subject Reports”) to one or more Limited Partners solely by means of granting such Limited Partners access to secure portal or
dataroom (the “Reporting Site”), with such parameters regarding access and availability of information for review as the General Partner deems reasonably necessary to protect the confidentiality and proprietary nature of the
information contained therein (including, but not limited to, establishing password protections for access to the Reporting Site). The General Partner shall provide each Limited Partner to which it will transmit Subject Reports pursuant to this
paragraph 11.7 two (2) days advance notice of the first date on which a new Subject Report will be posted on the Reporting Site for such Limited Partner’s review. Unless the General Partner exercises its discretion pursuant to and in
compliance with paragraph 14.14(c) to restrict access to certain Confidential Information that may be included in a Subject Report posted on the Reporting Site, the Subject Reports posted on the Reporting Site shall contain all of the material
information included in those Subject Reports transmitted to Limited Partners other than pursuant to this paragraph 11.7. Subject to the provisions of paragraph 15.16(c), the Subject Reports shall be posted on the Reporting Site within the same
number of days after the end of the applicable fiscal quarter or fiscal year as is required pursuant to paragraphs 11.3 and 11.4 and shall remain accessible to and downloadable or printable by the Limited Partners for at least twelve
(12) months. 
 ARTICLE 12 

VALUATION 
 12.1
Valuation. Subject to the specific standards set forth below, the valuation of Securities and other assets and liabilities under this Agreement shall be at fair market value. Except as may be required under applicable Treasury
Regulations, no value shall be placed on the goodwill or the name of the Partnership in determining the value of the interest of any Partner or in any accounting among the Partners. As set forth in paragraph 11.1, the books and records of the
Partnership shall be kept in accordance with the provisions of this Agreement and otherwise in accordance with generally accepted accounting principles consistently applied. 

(a) The following criteria shall be used for determining the fair market value of Securities: 

(i) If traded on one or more securities exchanges, the value shall be deemed to be the Securities’ closing price on the principal
of such exchanges on the valuation date. 
 (ii) If actively traded over the counter, the value shall be deemed to be the average
closing bid and ask prices of such Securities on the valuation date. 
 (iii) If there is no active public market, the value shall be
the fair market value thereof, as determined in good faith by the General Partner, taking into consideration the purchase price of the Securities, developments concerning the investee company subsequent to the acquisition of the Securities, any
financial data and projections of the investee company provided to the General Partner, and such other factor or factors as the General Partner may deem relevant. 

(b) If the General Partner in good faith determines that, because of special circumstances, the valuation methods set forth in this
Article 12 do not fairly determine the value of a Security, the General Partner shall make such adjustments or use such alternative valuation method as it reasonably deems appropriate. 

  
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 (c) The General Partner shall have the power at any time to determine, for all
purposes of this Agreement, the fair market value of any assets and liabilities of the Partnership, subject to paragraph 12.1(d). 

(d) If within thirty (30) days of receipt of any written financial statement or report from the General Partner that includes a
valuation of Partnership assets pursuant to this paragraph 12.1, a Majority in Interest of the Limited Partners notifies the General Partner of an objection to such valuation, then, if the General Partner and a Majority in Interest of the Limited
Partners cannot otherwise mutually agree on the valuation, the General Partner and a Majority in Interest of the Limited Partners may each appoint an independent securities expert to render a valuation, and the average of such experts valuations
shall be adopted as the Partnership’s valuation. The fees and expenses of any expert retained in accordance with this paragraph 12.1(d) shall be borne by the Partnership. 

ARTICLE 13 
 CERTAIN
DEFINITIONS 
 13.1 Accounting Period. An Accounting Period shall be (i) a fiscal year if there are no changes in the
Partners’ respective interests in the Profits or Losses of the Partnership during such fiscal year except on the first day thereof, or (ii) any other period beginning on the first day of a fiscal year, or any other day during a fiscal year
upon which occurs a change in such respective interests, and ending on the last day of a fiscal year, or on the day preceding an earlier day upon which any change in such respective interests shall occur. If there are changes in the Partners’
respective interests in the Partnership during the fiscal year, the General Partner may treat each such change as occurring at the end of the month or quarter in which such change occurs. 

13.2 Adjusted Asset Value. The Adjusted Asset Value with respect to any asset shall be the asset’s adjusted basis for federal
income tax purposes, except as follows: 
 (a) The initial Adjusted Asset Value of any asset contributed (including, for the avoidance
of doubt, a deemed contribution pursuant to the Conversion) by a Partner to the Partnership shall be the gross fair market value of such asset at the time of contribution, as determined by the contributing Partner and the Partnership. 

(b) In the discretion of the General Partner and in accordance with the principles of Article 12 (including the dispute resolution
mechanism provided in paragraph 12.1(d)), the Adjusted Asset Values of all Partnership assets may be adjusted to equal their respective gross fair market values, as reasonably determined by the General Partner, and the resulting unrealized profit or
loss allocated to the Capital Accounts of the Partners pursuant to Article 5, as of the following times: (i) upon distribution by the Partnership to a Partner of more than a de minimis amount of Partnership assets, unless all
Partners receive simultaneous distributions of either undivided interests in the distributed property or identical Partnership assets in proportion to their interests in Partnership distributions as provided in paragraphs 7.4 and 7.5 and
(ii) the grant of an additional interest in the Partnership to any new or existing Partner. 

  
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 (c) The Adjusted Asset Values of all Partnership assets shall be adjusted to equal
their respective gross fair market values, as reasonably determined by the General Partner, and the resulting unrealized profit or loss allocated to the Capital Accounts of the Partners pursuant to Article 5, as of the termination of the
Partnership either by expiration of the Partnership’s term or the occurrence of an event described in paragraph 10.2. 
 13.3
Affiliate. An Affiliate of any person shall mean any person that directly, or indirectly through one or more intermediaries, controls, or is controlled by or is under common control with the person specified; provided, however, that no
portfolio company of the Partnership or any other investment fund managed by the Management Company, the General Partner, or their respective Affiliates shall be considered an Affiliate of the General Partner and the Management Company. 

13.4 Affiliated Funds. Affiliated Funds shall mean any of UV Partners IV, L.P., UV Partners
IV-A, L.P., UV Partners IV Financial Institutions Fund, L.P., Pelion Ventures V, L.P., Pelion Ventures V-A, L.P., Pelion Ventures V Financial Institutions Fund, L.P.,
Pelion Ventures VI, L.P., Pelion Ventures VI-A, L.P., Pelion Ventures VII, L.P. and Pelion Ventures VII Financial Institutions Fund, L.P. or any other investment vehicles managed by Pelion, Inc., the General
Partner or any of their respective Affiliates. 
 13.5 Applicable Carry Rate. The Applicable Carry Rate associated with any
Portfolio Company shall be determined as follows: 
 (a) for each Group A Portfolio Company, if cumulative Proceeds of a Sale or Sales
of the Securities of such Group A Portfolio Company: 
 (i) are less than or equal to the Threshold NAV listed for such Group A
Portfolio Company on Schedule A, the Applicable Carry Rate associated with such Group A Portfolio Company shall be 15%; and 

(ii) are greater than the Threshold NAV, the Applicable Carry Rate associated with such Group A Portfolio Company shall be 30%; and

 (b) for each Group B Portfolio Company, if cumulative Proceeds of a Sale or Sales of the Securities of such Group B Portfolio
Company: 
 (i) are either (x) less than or equal to 400% of the Reference NAV for such Group B Portfolio Company or
(y) less than $2,000,000, the Applicable Carry Rate associated with such Group B Portfolio Company shall be 50%; and 
 (ii) are
both (x) greater than 400% of the Reference NAV for such Group B Portfolio Company and (y) greater than or equal to $2,000,000, the Applicable Carry Rate associated with such Group B Portfolio Company shall be 30%. 

  
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 13.6 Capital Account. The Capital Account of each Partner shall consist of
(i) the product of (x) such Partner’s Partnership Percentage multiplied by (y) the net asset value of the Partnership as of the Formation Date, (ii) increased by any additional capital contributions, its share of income or
gain that is allocated to it pursuant to this Agreement, and the amount of any Partnership liabilities that are assumed by it or that are secured by any Partnership property distributed to it, and (iii) decreased by the amount of any
distributions to or withdrawals by it, its share of expense or loss that is allocated to it pursuant to this Agreement, and the amount of any of its liabilities that are assumed by the Partnership or that are secured by any property contributed by
it to the Partnership. The foregoing provision and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with Treasury Regulation
Section 1.704-1(b)(2)(iv), and shall be interpreted and applied in a manner consistent with such Treasury Regulations. In the event the General Partner shall determine that it is prudent to modify the
manner in which the Capital Accounts, or any debits or credits thereto, are computed in order to comply with such Treasury Regulations, the General Partner may make such modification with Overstock’s consent. 

13.7 Capital Commitment; Committed Capital. A Partner’s Capital Commitment shall mean the amount that such Partner has agreed to
contribute to the capital of the Partnership as set forth opposite such Partner’s name on Exhibit A hereto. The Partnership’s Committed Capital shall equal the sum of the aggregate Capital
Commitments of all Partners. For the avoidance of doubt, no amounts paid by any Partner to the Corporation as a stockholder thereof prior to the Formation Date shall be considered a contribution in respect of a Partner’s Capital Commitment.

 13.8 CFIUS. CFIUS shall mean the Committee on Foreign Investment in the United States or any member agency thereof acting in its
capacity as a member agency. 
 13.9 CFIUS Affiliate. CFIUS Affiliate shall mean, with respect to any Limited Partner, any director,
officer, manager, partner, member, or similar Person, or 5% or greater equity holder of such Limited Partner, and any Person controlling or under common control with such Limited Partner. 

13.10 CFIUS Regulations. CFIUS Regulations shall mean the DPA, including as amended and/or supplemented by FIRRMA, and the rules and
regulations promulgated under the DPA and FIRRMA. 
 13.11 Code. The Code is the Internal Revenue Code of 1986, as amended from time
to time (or any corresponding provisions of succeeding law). 
 13.12 Covered Transaction(s). Covered Transaction(s) shall have the
meaning set forth in the DPA. 
 13.13 Critical Technologies. Critical Technologies shall have the meaning set forth in the DPA and
CFIUS Regulations.  

  
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 13.14 Deemed Gain or Deemed Loss. The Deemed Gain from any in kind distribution of
Securities shall be equal to the excess, if any, of the fair market value of the Securities distributed (valued as of the date of distribution in accordance with paragraph 12.1), over the aggregate Adjusted Asset Value of the Securities distributed.
The Deemed Loss from any in kind distribution of Securities shall be equal to the excess, if any, of the aggregate Adjusted Asset Value of the Securities distributed over the fair market value of the Securities distributed (valued as of the date of
distribution in accordance with paragraph 12.1). 
 13.15 DPA. DPA shall mean Section 721 of the Defense Production Act of 1950,
as amended from time to time (or any corresponding provisions of any succeeding law). 
 13.16 ERISA. ERISA shall
mean the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 13.17 Excess Proceeds. The
“Excess Proceeds” associated with a Portfolio Company shall be equal to the excess, if any, of (x) the cumulative Proceeds received by the Partnership in connection with the disposition of all Securities of such
Portfolio Company over (y) the Reference NAV for such Portfolio Company. For the avoidance of doubt, in no event shall the Excess Proceeds associated with a Portfolio Company be a negative amount. 

13.18 FIRRMA. FIRRMA shall mean the Foreign Investment Risk Review Modernization Act of 2018, as amended from time to time. 

13.19 Foreign Person. Foreign Person shall have the meaning set forth in the DPA and CFIUS Regulations. 

13.20 Group A Portfolio Company. A Group A Portfolio Company shall include any Portfolio Company listed on Schedule A
hereto. 
 13.21 Group B Portfolio Company. A Group B Portfolio Company shall include any Portfolio Company listed on Schedule
B hereto. 
 13.22 Indemnified Parties. The Indemnified Parties, or referred to singularly as Indemnified Party, shall
include (a) each of the General Partner, the Management Company, the Original Manager, the tax matters partner, the Partnership Representative and each liquidator of the Partnership; and (b) each partner, member, stockholder, manager,
managing director, officer, director, employee, consultant, agent or Affiliate of any of the parties identified in clause (a). 
 13.23
Marketable; Marketable Securities. These terms shall refer to Securities that are (a) traded on a national securities exchange, over the counter, or on an alternative trading system, and (i) freely transferable pursuant to either Rule
144 of the Securities Act (without being subject to any volume restrictions set forth in Rule 144(e)) or Rule 145 of the Securities Act and (ii) not subject to any underwriter “lock-up” or other
contractual restrictions on transferability, or (b) currently the subject of an effective Securities Act registration statement. Notwithstanding the foregoing, a Security shall not be deemed to be a Marketable Security if, in the good faith
judgment of the General Partner, the market on which such Security trades is not adequate to permit an orderly sale of all shares of such Security held by the Partnership within a reasonable time period. 

13.24 Material Nonpublic Technical Information. Material Nonpublic Technical Information shall have the meaning set forth in the DPA.

  
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 13.25 Medici Option. A Medici Option shall mean any option outstanding immediately
prior to the Conversion to acquire shares of common stock of the Corporation that, as of the effective time of the Conversion, became an option to acquire Limited Partner interests in the Partnership. 

13.26 Nonmarketable Securities. Nonmarketable Securities are all Securities other than Marketable Securities. 

13.27 Original Manager. Original Manager shall refer to Matthew Mosman. 

13.28 Overstock. Overstock shall refer to Overstock.com, Inc., a Delaware corporation. 

13.29 Partnership Percentage. The Partnership Percentage for each Partner shall be the percentage set forth opposite such Partner’s
name on Exhibit A hereto. 
 13.30 Percentage in Interest; Majority in
Interest. A specified fraction or percentage in interest of the Partners or of the Limited Partners shall mean Partners or Limited Partners whose Partnership Percentages equal or exceed the required fraction or percentage of the
Partnership Percentages of all such Partners or Limited Partners. (If the fraction or percentage in interest is specified as a fraction or percentage of the Limited Partners, then the Partnership Percentage assigned to any Limited Partner interest
held directly or indirectly by the General Partner or any Affiliate thereof shall not be considered in either the numerator or denominator of such percentage calculation.) A Majority in Interest shall mean more than Fifty Percent (50%) in Interest.
Computations under this paragraph 13.30 shall only include Limited Partners who have not lost voting rights pursuant to paragraph 4.4(b). 

13.31 Portfolio Investment. Portfolio Investment shall mean any investments made by the Partnership in portfolio companies and shall
include, as the context may require, both the Partnership investment itself and the entity that is the target of that investment. 
 13.32
Portfolio Company. Portfolio Company means each operating company in which the Partnership holds any Securities. 
 13.33 Prime
Rate. Prime Rate shall mean the annual rate of interest published in the Wall Street Journal from time to time as the “Prime Rate” or a comparable source selected by the General Partner in its reasonable discretion. 

13.34 Proceeds. Proceeds shall mean (a) the net cash proceeds received after the deduction of all fees, expenses, costs,
commissions or other liabilities directly arising from or relating to a Sale, (b) the net cash proceeds from the Sale of any Securities or other non-cash consideration received from the Sale, after
deducting all the fees, expenses, costs and commissions incurred directly in connection with the Sale of these Securities or other non-cash consideration, and (c) the fair market value of any Securities
distributed to the Partners (valued as of the date of distribution in accordance with paragraph 12.1). 
 13.35 Profit or
Loss. Profit or Loss shall be an amount computed for each Accounting Period as of the last day thereof that is equal to the Partnership’s taxable income or loss for such Accounting Period, determined in accordance with
Section 703(a) of the Code (for this purpose, all items of income, gain, loss, or 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:

  
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 (a) Any income of the Partnership that is exempt from federal income tax and not
otherwise considered in computing Profit or Loss pursuant to this paragraph 13.35 shall be added to such taxable income or loss; 
 (b)
Any expenditures of the Partnership described in Code Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(i)
and not otherwise taken into account in computing Profit or Loss pursuant to this paragraph 13.35 shall be subtracted from such taxable income or loss; 

(c) Gain or loss resulting from any disposition of a Partnership asset with respect to which gain or loss is recognized for federal
income tax purposes shall be computed by reference to the Adjusted Asset Value of the asset disposed of rather than its adjusted tax basis; 

(d) The difference between the gross fair market value of all Partnership assets and their respective Adjusted Asset Values shall be
added to such taxable income or loss in the circumstances described in paragraph 13.2; 
 (e) Items which are specially allocated
pursuant to paragraphs 3.2(b), 4.4(b)(v), 5.1(b), 5.1(c) and 5.2 hereof shall not be taken into account in computing Profit or Loss; and 

(f) The amount of any Deemed Gain or Deemed Loss on any Securities distributed in kind shall be added to or subtracted from (as the case
may be) such taxable income or loss. 
 13.36 Reference NAV. The Reference NAV for any Group A Portfolio Company or
Group B Portfolio Company shall mean the sum of (a) the amount set forth opposite such Portfolio Company’s name in the “Reference NAV as of Formation Date” column on Schedule A or Schedule B, as
applicable, and (b) the aggregate amount invested by the Partnership in such Portfolio Company after the signing date of the Transaction Agreement. Notwithstanding the foregoing, if there is a Value-Determinative Transaction relating to a Group
A Portfolio Company, (i) the Reference NAV for such company shall be adjusted to the valuation of the Partnership’s holdings in such company implied by the Value-Determinative Transaction (i.e., the product of (x) the
Partnership’s broad-based fully-diluted percentage ownership of such Portfolio Company following such transaction multiplied by (y) the Portfolio Company’s post-money valuation established in connection with such transaction); and
(ii) thereafter, the Reference NAV for such company shall be increased by the aggregate amount invested by the Partnership in such Portfolio Company after such transaction. For the avoidance of doubt, the Reference NAV for any Portfolio
Company as of the Formation Date (as reflected on Schedule A and Schedule B, as applicable) represents the gross fair market value of such asset as of the Formation Date. 

13.37 Sale. Sale shall mean any sale, pledge, transfer, in-kind distribution or other
disposition, whether or not for value, of any Securities, and “Sell” and “Sold” shall have the correlative meanings. 

  
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 13.38 Securities. Securities shall mean securities of every kind and nature and
rights and options with respect thereto, including stock, notes, bonds, debentures, evidences of indebtedness and other business interests of every type, including partnerships, joint ventures, proprietorships and other business entities. 

13.39 Securities Act. Securities Act is the Securities Act of 1933, as amended from time to time. 

13.40 Substantial Interest. Substantial Interest shall have the meaning set forth in the DPA. 

13.41 Target Companies. Target Companies shall mean (i) entities that are Portfolio Companies as of the Formation Date,
(ii) successors to the entities described in clause (i), or (iii) entities that are approved pursuant to paragraph 8.5(a); it being understood that such entities must be engaged in the business of, or related to, blockchain technology.

 13.42 Target Performance Entitlement. The Target Performance Entitlement associated with any Portfolio Company
shall be determined as follows: 
 (a) for each Group A Portfolio Company, if cumulative Proceeds of a Sale or Sales of the Securities
of such Group A Portfolio Company: 
 (i) are less than or equal to the Threshold NAV listed for such Group A Portfolio Company on
Schedule A, the Target Performance Entitlement associated with such Group A Portfolio Company shall be the greater of (x) $1,500,000 for tZERO Group, Inc. or $750,000 for all other Group A Portfolio Companies and (y) 15% of Excess
Proceeds with respect to such Sale or Sales; and 
 (ii) are greater than the Threshold NAV, the Target Performance Entitlement
associated with such Group A Portfolio Company shall be the greater of (x) $3,000,000 for tZERO Group, Inc. or $1,500,000 for all other Group A Portfolio Companies and (y) 30% of Excess Proceeds with respect to such Sale or Sales; and 

(b) for each Group B Portfolio Company, if cumulative Proceeds of a Sale or Sales of the Securities of such Group B Portfolio Company:

 (i) are either (x) less than or equal to 400% of the Reference NAV for such Group B Portfolio Company or (y) less than
$2,000,000, the Target Performance Entitlement associated with such Group B Portfolio Company shall be 50% of such Proceeds; and 
 (ii)
are both (x) greater than 400% of the Reference NAV for such Group B Portfolio Company and (y) greater than or equal to $2,000,000, the Target Performance Entitlement associated with such Group B Portfolio Company shall be the greater
of (x) 200% of the Reference NAV for such Group B Portfolio Company and (y) 30% of Excess Proceeds with respect to such Sale or Sales. 

  
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 13.43 Threshold NAV. The Threshold NAV for any Group A Portfolio
Company shall mean the sum of (a) the amount set forth opposite such Portfolio Company’s name in the “Threshold NAV” column on Schedule A, and (b) the aggregate amount invested by the Partnership in such
Portfolio Company after the signing date of the Transaction Agreement. Notwithstanding the foregoing, if there is a Value-Determinative Transaction relating to a Group A Portfolio Company, (i) the Threshold NAV for such company shall be
adjusted to the valuation of the Partnership’s holdings in such company implied by the Value-Determinative Transaction (i.e., the product of (x) the Partnership’s broad-based fully-diluted percentage ownership of such Portfolio
Company following such transaction multiplied by (y) the Portfolio Company’s post-money valuation established in connection with such transaction); and (ii) thereafter, the Threshold NAV for such company shall be increased by the
aggregate amount invested by the Partnership in such Portfolio Company after such transaction. 
 13.44 Transaction Agreement.
The Transaction Agreement shall refer to the Transaction Agreement among Overstock, the General Partner, Pelion, Inc. and the Corporation, dated as of January 25, 2021. 

13.45 Treasury Regulations. Treasury Regulations shall mean the Income Tax Regulations promulgated under the Code, as such Regulations
may be amended from time to time (including corresponding provisions of succeeding Regulations). 
 13.46 Trigger Event. A Trigger
Event shall be deemed to have occurred if at any time the General Partner or the Management Company or any member of the General Partner or the Management Company obtains written advice of legal counsel experienced in such matters that (a) such
party is required to register as an investment adviser under the Investment Advisers Act of 1940, as amended, solely due to its relationship with the Partnership or (b) the Partnership is not a “venture capital fund” for purposes of
section 203(l) of the Investment Advisers Act of 1940, as amended, either (x) following such party being notified in writing to that effect by the Securities and Exchange Commission or its staff or (y) based on any of the following items
that are disseminated or published after the Formation Date: SEC rules, regulations or amendments to existing rules or regulations; SEC staff no-action, interpretive or exemptive letters; SEC staff guidance
updates or other formal guidance published on the SEC website; SEC enforcement actions based on substantially similar facts; or speeches, public statements or testimony by the SEC Chairman, Commissioners or staff published on the SEC website. 

13.47 Value-Determinative Transaction. A Value-Determinative Transaction relating to a Group A Portfolio Company shall mean an
investment of new funds consummated not later than nine (9) months after the signing date of the Transaction Agreement by one or more parties with no prior equity interest in such Group A Portfolio Company in exchange for newly issued equity in
such Portfolio Company representing at least 10% of the post-investment equity of such Portfolio Company. 
 ARTICLE 14 

OTHER PROVISIONS 
 14.1
Governing Law. This Agreement shall be governed by and construed in accordance with applicable Federal laws and the laws of the State of Delaware, as applied to agreements among the residents of such state made and to be performed entirely
within such state. 

  
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 14.2 Limitation of Liability of the Limited Partners. Except as otherwise required by
law, no Limited Partner shall be bound by, nor be personally liable for, the expenses, liabilities, or obligations of the Partnership. Notwithstanding the foregoing, each Limited Partner shall be required to pay to the Partnership, at such times and
subject to the conditions set forth herein, all amounts that such Limited Partner has agreed to pay in respect of its Capital Commitment and to deliver such other amounts it is obligated to pay over to the Partnership pursuant to this Agreement.

 14.3 Exculpation. None of the Indemnified Parties shall be liable to any Limited Partner or the Partnership for honest mistakes of
judgment, or for action or inaction, taken in good faith, or for losses due to such mistakes, action, or inaction involving simple negligence, or to the negligence, dishonesty, or bad faith of any employee, broker, or other agent of the Partnership,
provided that such employee, broker, or agent was selected, engaged, or retained with reasonable care. The General Partner and such persons may consult with counsel and accountants in respect of Partnership affairs and be fully protected and
justified in any action or inaction that is taken in accordance with the advice or opinion of such counsel or accountants, provided that they shall have been selected with reasonable care. Notwithstanding any of the foregoing to the contrary,
the provisions of this paragraph 14.3 and the immediately following paragraph 14.4 shall not be construed so as to relieve (or attempt to relieve) any person of any liability by reason of willful misconduct, gross negligence or conduct that
constitutes a violation of this Agreement (unless such violation has been cured within sixty (60) days of written notice) or to the extent (but only to the extent) that such liability may not be waived, modified, or limited under applicable
law, but shall be construed so as to effectuate the provisions of such paragraphs to the fullest extent permitted by law. To the extent that, at law or in equity, the General Partner or any of its agents has duties (including fiduciary duties) and
liabilities relating to the Partnership, any Partner or any other person, the General Partner or such agent acting under this Agreement shall not be liable to the Partnership, any Partner or any other person for breach of fiduciary duty for its
reasonable reliance on the provisions of this Agreement, and the provisions of this Agreement, to the extent that they restrict or eliminate the duties (including fiduciary duties) and liabilities relating thereto of the General Partner or such
agent otherwise existing at law or in equity, are agreed by each Partner and the Partnership to replace such other duties and liabilities of such Indemnified Party. 

14.4 Indemnification. 

(a) The Partnership agrees to indemnify, out of the assets of the Partnership only, the Indemnified Parties to the fullest extent
permitted by law and to save and hold them harmless from and in respect of (a) all reasonable fees, costs, and expenses, including legal fees, paid in connection with or resulting from any claim, action, or demand against any of the Indemnified
Parties that arise out of or in any way relate to (i) the Partnership, its properties, business, or affairs (expressly excluding claims, actions or demands relating to or arising out of any Trigger Event or solely among the General Partner, the
Management Company and their respective managers, equity owners and employees) or (ii) any civil monetary penalties or required disgorgement of Performance or Management Fees that the Management Company is required to pay pursuant to an order
from the SEC as a result of a Trigger Event, and (b) such claims, actions, and demands covered by clause (a)(i) and any losses or damages resulting from such claims, actions, and demands covered by clause (a)(i), including amounts paid in
settlement or compromise or as a fine (if recommended in writing by attorneys for the Partnership) of any such claim, action or demand; provided, however, that this indemnity shall not extend to conduct not

  
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undertaken in good faith, to any conduct which constitutes willful misconduct or gross negligence, or to any conduct determined by a court of competent jurisdiction or arbitrators appointed in
accordance with paragraph 14.5 to be a violation of this Agreement that has a material adverse effect on the Partnership (unless such violation has been cured within sixty (60) days of written notice). Expenses incurred by any Indemnified Party
in defending a claim or proceeding covered by this paragraph shall be paid by the Partnership in advance of the final disposition of such claim or proceeding; provided, the Indemnified Party undertakes to repay such amount if it is ultimately
determined that such person was not entitled to be indemnified. The provisions of this paragraph 14.4 shall remain in effect as to each Indemnified Party whether or not such Indemnified Party continues to serve in the capacity that entitled such
person to be indemnified. 
 (b) Solely for purposes of clarification, and without expanding the scope of indemnification pursuant to
this paragraph 14.4, the Partners intend that, to the maximum extent permitted by law, as between (i) portfolio companies of the Partnership, (ii) the Partnership and (iii) the General Partner and/or its Affiliates, this paragraph
14.4 shall be interpreted to reflect an ordering of liability for potentially overlapping or duplicative indemnification payments, with any applicable portfolio company having primary liability, the Partnership having only secondary liability, and
(if applicable) the General Partner and/or its Affiliates having only tertiary and subsequent liability. The possibility that an Indemnified Party may receive indemnification payments from a portfolio company shall not restrict the Partnership
from making payments under this paragraph 14.4 to an Indemnified Party that is otherwise eligible for such payments, but such payments by the Partnership are not intended to relieve any portfolio company from any liability that it would otherwise
have to make indemnification payments to such Indemnified Party and, if an Indemnified Party that has received payments from the Partnership pursuant to this paragraph 14.4 actually receives duplicative indemnification payments from a portfolio
company for the same fees, costs and expenses, such Indemnified Party shall repay the Partnership as soon as practicable to the extent of such duplicative payments. To the extent necessary or appropriate under applicable law in order to effect such
intention of the Partners in the case of potentially overlapping or duplicative indemnification payments by the Partnership and a portfolio company, the Partnership shall, to the extent permitted by law, have a right of subrogation against such
portfolio company (exercisable at the sole discretion of the General Partner) if the Partnership makes payments to an Indemnified Party pursuant to this paragraph 14.4 with regard to the same fees, costs and expenses for which such Indemnified Party
was otherwise eligible for indemnification payments from such portfolio company. As used in this paragraph 14.4, “indemnification” payments made or to be made by a Partnership portfolio company shall be deemed to include
(i) advancement of expenses with regard to indemnification obligations, (ii) payments made or to be made by any successor to the indemnification obligations of such portfolio company and (iii) equivalent payments made or to be made by
or on behalf of such portfolio company (or such successor) pursuant to an insurance policy or similar arrangement. Indemnification payments (if any) made to an Indemnified Party by the General Partner or any of its Affiliates in respect of
reasonable fees, costs and expenses for which (and to the extent) such Indemnified Party is otherwise eligible for payments from the Partnership under this paragraph 14.4 (disregarding any such indemnification payment by the General Partner or its
Affiliates) shall not relieve the Partnership from its obligation to such Indemnified Party and/or the General Partner or its Affiliates, as applicable, for such payments (it being the intention in such case that the General Partner or its
Affiliates would be reimbursed by such Indemnified Party or directly by the Partnership with payments made by the Partnership under this paragraph 14.4). 

  
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 14.5 Arbitration. 

(a) Any claim, dispute, or controversy of whatever nature arising out of or relating to this Agreement, including, without limitation,
any action or claim based on tort, contract, or statute (including any claims of breach), or concerning the interpretation, effect, termination, validity, performance and/or breach of this Agreement (“Claim”), shall be
resolved by final and binding arbitration (“Arbitration”) before a panel of three (3) arbitrators (“Arbitrators”) selected from and administered by JAMS, Inc. (the
“Administrator”) in accordance with its then existing arbitration rules or procedures regarding commercial or business disputes. Each party shall select one arbitrator and the two parties shall then agree on a third
arbitrator, who shall be selected from a list provided by the Administrator. The arbitration shall be held in Salt Lake City, Utah. 
 (b)
The Arbitrators shall, within thirty (30) calendar days after the conclusion of the Arbitration hearing, issue a written award and statement of decision describing the essential findings and conclusions on which the award is based,
including the calculation of any damages awarded. The Arbitrators shall be authorized to award compensatory damages, but shall not be authorized (i) to award non-economic damages, such as for
emotional distress, pain and suffering or loss of consortium, (ii) to award punitive damages, or (iii) to reform, modify or materially change this Agreement or any other agreements contemplated hereunder; provided, however, that the
damage limitations described in parts (i) and (ii) of this sentence will not apply if such damages are statutorily imposed. The Arbitrators also shall be authorized to grant any temporary, preliminary or permanent equitable remedy or relief he
or she deems just and equitable and within the scope of this Agreement, including, without limitation, an injunction or order for specific performance. 

(c) Each party shall bear its own attorney’s fees, costs, and disbursements arising out of the arbitration, and shall pay an equal
share of the fees and costs of the Administrator and the Arbitrators; provided, however, the Arbitrators shall be authorized to determine whether a party is substantially the prevailing party, and if so, to award to that substantially
prevailing party reimbursement for its reasonable attorneys’ fees, costs and disbursements (including, for example, expert witness fees and expenses, photocopy charges, travel expenses, etc.), and/or the fees and costs of the Administrator and
the Arbitrators. Absent the filing of an application to correct or vacate the arbitration award under Title 10 of the Delaware Code sections 5713 through 5717, each party shall fully perform and satisfy the arbitration award within fifteen
(15) days of the service of the award. 
 (d) By agreeing to this binding arbitration provision, the parties understand that they
are waiving certain rights and protections which may otherwise be available if a Claim between the parties were determined by litigation in court, including, without limitation, the right to seek or obtain certain types of damages precluded by this
paragraph 14.5, the right to a jury trial, certain rights of appeal, and a right to invoke formal rules of procedure and evidence. 
 (e)
This paragraph 14.5 shall be construed to the maximum extent possible to comply with the laws of the State of Delaware, including, to the extent applicable, the Uniform Arbitration Act (10 Del. C. § 5701 et seq.) (the “Delaware
Arbitration Act”). If, nevertheless, it shall be determined by a court of competent jurisdiction that any provision or wording of this 

  
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paragraph 14.5 shall be invalid or unenforceable under the Delaware Arbitration Act, to the extent applicable, or other applicable law, such invalidity shall not invalidate all of this paragraph
14.5. In that case, this paragraph 14.5 shall be construed so as to limit any term or provision so as to make it valid or enforceable within the requirements of the Delaware Arbitration Act or other applicable law, and, in the event such term or
provision cannot be so limited, this paragraph 14.5 shall be construed to omit such invalid or unenforceable provision. 
 14.6
Execution and Filing of Documents. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument. Delivery of an
executed signature page of this Agreement by facsimile, DocuSign (or other reputable signature service) or by electronic mail in portable document format (PDF) will be effective as delivery of a manually executed signature page of this Agreement.

 14.7 Other Instruments and Acts. The Partners agree to execute any other instruments or perform any other acts that are or may be
reasonably necessary to effectuate and carry on the partnership created by this Agreement. Upon request, the Limited Partners shall provide the General Partner with any information, reasonably requested by the General Partner, necessary to allow the
General Partner and the Partnership to respond to requests by any governmental or regulatory agency for such information or as is required to be obtained by the General Partner and/or the Partnership by applicable law or regulation. 

14.8 Binding Agreement. This Agreement shall be binding upon the transferees, successors, assigns, and legal representatives of the
Partners. 
 14.9 Notices. Any notice or other communication that one Partner desires to give to another Partner shall be in writing,
and shall be deemed effectively given (i) upon personal delivery, (ii) five (5) business days after deposit in any United States mail box, by registered or certified mail, postage prepaid, (iii) upon confirmed transmission by
facsimile, (iv) upon confirmed delivery by overnight commercial courier service, or if authorized in advance by the receiving party as noted on the records of the Partnership, upon transmission by e-mail,
addressed to the other Partner at the address shown on Exhibit A or at such other address as a Partner may designate by fifteen (15) days’ advance written notice to the other Partners;
provided, however, that in the event of delivery or transmission received after business hours on a business day or on a non-business day, such notice shall be effective on the next business day
thereafter. In addition to the provisions of paragraph 11.7, the General Partner shall be entitled to transmit to the Limited Partners by e-mail the reports required by paragraphs 11.3, 11.4, and 11.5. 

14.10 Power of Attorney. By signing this Agreement, each Limited Partner designates and appoints the General Partner its true and lawful
attorney, in its name, place, and stead to make, execute, sign, and file the Certificate of Limited Partnership and any amendment thereto and such other instruments, documents, or certificates that may from time to time be required of the
Partnership by the laws of the United States of America, the laws of the state of the Partnership’s formation, or any other state in which the Partnership shall conduct its affairs in order to qualify or otherwise enable the Partnership to
conduct its affairs in such jurisdictions. Such attorney is not hereby granted any authority on behalf of the Limited Partners to amend this Agreement except that as attorney for each of the Limited Partners, the General Partner shall have the
authority to amend this Agreement and the Certificate of Limited Partnership (and to execute any amendment to the Agreement or the Certificate of Limited Partnership on behalf of itself and as attorney-in-fact for each of the Limited Partners) as may be required to effect: 

  
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 (a) Admission of additional Partners pursuant to Article 3; 

(b) Additional capital contributions pursuant to Article 4; 

(c) Transfers of Limited Partnership interests pursuant to Article 9; or 

(d) Extensions of the Partnership term pursuant to Article 10. 

This power of attorney granted by each Limited Partner shall expire as to such Partner immediately after the dissolution of the Partnership or
the amendment of the Partnership’s Exhibit A to reflect the complete withdrawal of such Partner as a Partner of the Partnership. 

14.11 Amendment. 
 (a)
This Agreement may be amended (including in connection with a merger, consolidation, conversion, division or the like of the Partnership) only with the written consent of the General Partner and a Majority in Interest of the Limited Partners.

 (b) Notwithstanding the above, no amendment of this Agreement may (i) modify any provision requiring the consent of more than
a Majority in Interest of the Limited Partners without the consent of such higher Percentage in Interest, or (ii) modify the method of making Partnership allocations, modify the method of determining the Partnership Percentage of any Partner,
reduce any Partner’s Capital Account, or change the restrictions contained in this subparagraph (b) without the consent of the affected Partner. 

(c) The Partnership’s or General Partner’s (or its members’ or employees’) noncompliance with any provision hereof
in any single transaction or event may be waived in writing by the same Percentage in Interest of the Limited Partners that would be required to amend such provision pursuant to paragraphs 15.11(a) or (b) above. No waiver shall be deemed a
waiver of any subsequent event of noncompliance. 
 (d) Notwithstanding the foregoing provisions of this paragraph 14.11, the General
Partner may, without the consent of the other Partners, amend this Agreement to correct typographical errors; provided that the General Partner provides each Limited Partner with copies of any such amendments within a reasonable period of time. 

14.12 Entire Agreement. This Agreement, and the Transaction Agreement, constitute the full, complete, and final agreement of the
Partners and supersedes all prior agreements between the Partners with respect to the Partnership. Notwithstanding the provisions of this Agreement, including paragraph 14.11, or of any Subscription Agreement, it is hereby acknowledged and
agreed that the General Partner on its own behalf or on behalf of the Partnership, without the approval of any Limited Partner or any other person, may enter into a side letter or similar agreement to or with a Limited Partner which has the effect
of establishing rights under, or altering or supplementing the terms of, this Agreement or of any Subscription Agreement. The parties hereto agree that any terms contained in a side letter or similar agreement to or with a Limited Partner shall
govern with respect to such Limited Partner notwithstanding the provisions of this Agreement or of any Subscription Agreement. 

  
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 14.13 Titles; Subtitles. The titles and subtitles used in this Agreement are used for
convenience only and shall not be considered in the interpretation of this Agreement. 
 14.14 Limited Partner Actions. Any action
required or permitted to be taken by the Limited Partners pursuant to the terms of this Agreement or Delaware law may be carried out in writing without a meeting of the Partners; provided that notice of such action is given to each such
Partner that did not consent within a reasonable time following the action. Upon the written request of a Majority in Interest of the Limited Partners, the General Partner shall use its best efforts to commence a meeting of the Partners within
thirty (30) days of such request. 
 14.15 Confidentiality. 

(a) This Agreement and all financial statements, tax reports, portfolio valuations, reviews or analyses of potential or actual
investments, reports or other materials and all other documents and information concerning the affairs of the Partnership and its investments, including, without limitation, information about the portfolio companies of the Partnership (collectively,
the “Confidential Information”), that any Limited Partner may receive or that may be disclosed, distributed or disseminated (whether in writing, orally, electronically or by other means) to any Limited Partner or its
representatives, pursuant to or in accordance with this Agreement, or otherwise as a result of its ownership of an interest in the Partnership, constitute proprietary and confidential information about the Partnership, the General Partner and its
Affiliates and the Partnership’s portfolio companies (the “Affected Parties”). Each Limited Partner acknowledges and agrees 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. Each Limited Partner further acknowledges and agrees that the Confidential Information is a trade secret, the disclosure of
which is likely to cause substantial and irreparable competitive harm to the Affected Parties or their respective businesses. 
 (b)
Each Limited Partner agrees to hold all Confidential Information in confidence, and not to disclose any Confidential Information to any third party without the prior written consent of the General Partner. Notwithstanding the preceding sentence,
each Limited Partner may disclose such Confidential Information: (i) to its officers, directors, trustees, equity owners, wholly-owned subsidiaries, employees and outside experts (including but not limited to its attorneys and accountants) on a
“need to know” basis, so long as such persons are bound by the same or a substantially similar duty of confidentiality to the Partnership as such Limited Partner, and so long as such Limited Partner shall remain liable for any breach of
this paragraph 14.15 by such persons; (ii) to the extent that such information is required to be disclosed in connection with any civil or criminal proceeding; (iii) to the extent that such information is required to be disclosed by
applicable law in connection with any court proceeding or governmental, administrative or regulatory proceeding or filing (including any inspection or examination or any disclosure necessary in connection with a request for information made under a
state or federal freedom of information act or similar law), after reasonable prior written notice to the General Partner (except 

  
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where such notice is expressly prohibited by law); (iv) to the extent that such information was received from a third party not subject to confidentiality limitations and such Limited Partner can
establish that it rightfully received such information from such party other than as a result of the breach of this paragraph 14.15; (v) to the extent such information was rightfully in such Limited Partner’s possession prior to the
Partnership’s conveyance of such information to such Limited Partner, as evidenced by the Limited Partner’s prior written records; (vi) to the extent that the information provided by the Partnership is otherwise available in the
public domain in the absence of any improper or unlawful action on the part of such Partner or (vii) in the case of Overstock, (A) in any manner it deems necessary, desirable or appropriate in making disclosures about its business,
operations or financial affairs, in preparing, or making disclosures relating to, its financial statements or in otherwise making public disclosures to its securityholders (provided that no such disclosure shall result in any breach of any
confidentiality obligation owed by the Partnership to any of the Portfolio Companies) and (B) notwithstanding clause (i) above, to its officers, directors, trustees, equity owners, wholly-owned subsidiaries, employees and outside experts
(including but not limited to its attorneys and accountants) on a “need to know” basis, so long as such persons are bound by a commercially reasonable duty of confidentiality to Overstock. Any Limited Partner seeking to make disclosure in
reliance on the foregoing clauses (ii) and (iii) above, such Limited Partner shall use its commercially reasonable efforts to claim any relevant exception under such laws or obligations which would prevent or limit public disclosure of the
Confidential Information and provide the General Partner immediate notice upon the Limited Partner’s receipt of a request for disclosure of any Confidential Information pursuant to such laws or obligations. 

(c) Each Limited Partner also agrees that any document constituting or containing, or any other embodiment of, any Confidential
Information shall be returned to the Partnership upon the General Partner’s request. Notwithstanding any provision of this Agreement to the contrary, the General Partner may withhold disclosure of any Confidential Information (other than this
Agreement or tax reports) to any particular Limited Partner if the General Partner reasonably determines that the disclosure of such Confidential Information to such Limited Partner may result in the general public gaining access to such
Confidential Information or that such disclosure is not in the best interests of the Partnership or its Portfolio Companies; provided, however, that to the extent that any information is not delivered to a Limited Partner based on the General
Partner’s exercise of its discretion under this sentence, such information shall be made available for review, but not copying, during regular business hours at a location mutually determined by the General Partner and such Limited Partner. In
no event shall a Limited Partner be denied access to information deliverable pursuant to paragraph 11.5 of this Agreement. 
 (d) In
addition, with respect to each Limited Partner that is subject to any “freedom of information,” “sunshine” or other law, rule or regulation that imposes upon such Limited Partner an obligation to make information available to the
public (a “FOIA Limited Partner”), the Partnership hereby requests confidential treatment of the Confidential Information, and such Limited Partner shall use commercially reasonable efforts to take such action as necessary
for such Confidential Information to be exempt from disclosure, to the maximum extent permitted under such law, rule or regulation. Notwithstanding anything contained in this paragraph 14.15 to the contrary, each FOIA Limited Partner may publicly
disclose the following: (i) the FOIA Limited Partner’s status as a Limited Partner of the Partnership, (ii) the amount of such FOIA Limited Partner’s Capital Commitment, (iii) the total amount of such FOIA Limited
Partner’s 

  
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Capital Commitment that has been drawn down pursuant to capital calls, (iv) the total amount of distributions received by the FOIA Limited Partner from the Partnership, and (v) the FOIA
Limited Partner’s net internal rate of return with respect to the Partnership’s performance as prepared by such FOIA Limited Partner (collectively, the “Fund Level Information”). Only with respect to FOIA Limited
Partners, for purposes of this paragraph 14.15, Confidential Information shall be deemed not to include Fund Level Information. 
 (e)
In addition, with respect to each Limited Partner that is a “fund of funds” or a similar pooled investment vehicle (but specifically excluding any pension, retirement or similar benefit plan) (a “Pooled Vehicle
Partner”), the Pooled Vehicle Partner shall be permitted to make disclosure to its direct equity owners (expressly excluding permission to make disclosure to any indirect or other beneficial owners), that are subject to a written
confidentiality agreement or obligation that provides a degree of protection to the Partnership comparable to that provided in this paragraph 14.15 of solely the following Confidential Information: (i) the Pooled Vehicle Partner’s status
as a Limited Partner of the Partnership, (ii) the amount of such Pooled Vehicle Partner’s Capital Commitment, (iii) the total amount of such Pooled Vehicle Partner’s Capital Commitment that has been drawn down pursuant to capital
calls, (iv) the total amount of distributions received by the Pooled Vehicle Partner from the Partnership, (v) the Pooled Vehicle Partner’s net internal rate of return with respect to the Partnership’s performance as prepared by
such Pooled Vehicle Partner, (vi) the net asset value of the Pooled Vehicle Partner’s interest in the Partnership (both cost and market value), (vii) such ratios and performance information calculated by the Pooled Vehicle Partner using
the information in clauses (ii) through (vi) above, including the ratio of net asset value plus distributions to contributions (i.e., the “multiple”), (viii) quarterly and annual reports summarizing the status of the Pooled
Vehicle Partner’s investment in the Partnership (without disclosure of any information concerning a portfolio company, other than the name of such Portfolio Company, a description of the business of such Portfolio Company and information
regarding the industry and geographic location of such Portfolio Company, the Partnership’s cost basis in each such Portfolio Company, the Partnership’s carry value of each investment in such Portfolio Company and, upon liquidity of any
such Portfolio Company, the Partnership’s rate of return related to such investment (the “Portfolio Confidential Information”)), and (ix) the name and address of the Partnership and the names of the principals of
the General Partner; provided, however, that no Pooled Vehicle Partner may provide Portfolio Confidential Information to an equity owner of such Pooled Vehicle Partner that would be a FOIA Limited Partner of the Partnership if such equity
owner of the Pooled Vehicle Partner were a Limited Partner of the Partnership other than the Fund Level Information that the Pooled Vehicle Partner would be able to disclose if it were a FOIA Limited Partner. 

(f) Each Limited Partner agrees to notify such Limited Partner’s attorneys, accountants and other similar advisers about their
obligations in connection with this paragraph 14.15 and will further cause such advisers to abide by the aforesaid provisions of this paragraph 14.15. Notwithstanding the foregoing, no Limited Partner shall be liable to the Partnership for any
breach of this paragraph 14.15 by any adviser of such Limited Partner if the adviser is bound by an obligation to keep such Confidential Information confidential and such Limited Partner agrees to enforce such obligation. 

  
 C - 49 

 14.16 Compliance with Certain Laws. Notwithstanding any other provision
of this Agreement: (a) if at any time the General Partner determines that a Limited Partner appears on a list of known or suspected terrorists or terrorist organizations compiled by any United States or foreign governmental agency or that any
information provided by such Limited Partner in such Limited Partner’s Subscription Agreement relating to money laundering is no longer true or accurate, then the General Partner shall be authorized to take any action as shall be necessary or
appropriate, in the General Partner’s sole discretion, as a result thereof, including, but not limited to, the actions contemplated in any Subscription Agreement, removal of such Limited Partner as a limited partner of the Partnership and
redemption of such Limited Partner’s interest in cash, less any penalty, fine, forfeiture, withholding or seizure imposed or ordered by any governmental agency; and (b) the General Partner, in its own name and on behalf of the Partnership,
shall be authorized without the consent of any Person, including any other Partner, to take such action as it determines to be necessary or appropriate, in the General Partner’s sole discretion, to comply with any anti-money laundering or
anti-terrorist laws, rules, regulations, directives or special measures, including the actions contemplated in any Subscription Agreement. 

[SIGNATURE PAGE FOLLOWS] 

  
 C - 50 

 IN WITNESS WHEREOF, the Partners have
executed this Agreement as of the date first written above. 
  

									
	GENERAL PARTNER:	 		 	LIMITED PARTNER:
			
	PELION MV GP, L.L.C.	 		 	  

		 		 		 	(Print name of investing entity)
					
	By:	 	  
	 		 	By:	 	  

		 	Manager	 		 		 	(signature)
					
		 		 		 	Title:	 	  

 THE SECURITIES EVIDENCED BY THIS PARTNERSHIP AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT COVERING SUCH SECURITIES OR THE GENERAL PARTNER RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE SECURITIES
REASONABLY SATISFACTORY TO THE GENERAL PARTNER, STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE SECURITIES ACT. 

MEDICI VENTURES, L.P. 

SIGNATURE PAGE TO LIMITED PARTNERSHIP AGREEMENT 

 EXHIBIT A 

SCHEDULE OF PARTNERS 
  

									
	 General Partner Name and Address
	  	Capital
Commitment	 	 	Partnership
Percentage	 
	 Pelion MV GP, L.L.C.

2750 East Cottonwood Parkway, Suite 600

Salt Lake City, UT 84121
	  	$	450,000	 	 	 	1.00	% 
			
	 Limited Partner Names and Addresses
	  	Capital
Commitment	 	 	Partnership
Percentage	 
	 Overstock.com, Inc.

799 West Coliseum Way

Midvale, UT 84047
	  	 	[___________	] 	 	 	[_____	%] 
	 Total for all Limited Partners
	  	$	44,550,000.00	 	 	 	99.00	% 

 EXHIBIT B 

PORTFOLIO COMPANY HOLDINGS 

AS OF FORMATION DATE 
  

			
	 Portfolio Company
	  	 Interest – No. Shares & Class

		
	Bitt, Inc.	  	2,265,245,949.50 – Common Stock
		
	Ripio (BitPagos, Inc.)	  	268,641 – Series A-1 Preferred Stock
		
	Symbiont.io, Inc.	  	343,643 – Series A-1 Preferred Stock
		
	Votem Corp.	  	48,780 – Series B Preferred Stock
		
	Medici Land Governance, Inc.	  	836,377 – Common Stock
		
	PeerNova, Inc.	  	 31,246 – Common Stock
  

115,347 – Series A-2(A) Preferred Stock
  

106,250 – Series A-3(A) Preferred Stock
  

249,263 – Series A-4(A) Preferred Stock
  

133,230 – Series A-4(B) Preferred Stock
  

Convertible Promissory Note dated October 22, 2019; Principal amount $1,464,989.67; 8% interest; convertible at a discount to next priced round

 
 Warrant to Purchase Shares of Common Stock dated October 22, 2019 providing for
purchase of up to $1,464,989.67 of common stock; expires October 22, 2029

		
	SettleMint NV	  	 214,300 – Common Class A Stock
  

37,432 – Common Class B Stock

		
	Spera Inc.	  	2,670,583 – Series A Preferred Stock
		
	Voatz, Inc.	  	 385,516 – Series Seed Preferred Stock
  

448,454 – Series A Preferred Stock

		
	Chainstone Labs, Inc.	  	3,600,000 – Common Stock
		
	Minds, Inc.	  	670,841 – Series A Preferred Stock
		
	Vinsent (VinX Network, Ltd.)	  	 145,126 – Common Stock
  

35% member interest in VV20V, LLC (Vino Ventures)

		
	FinClusive Capital, Inc.	  	 3,333 – Common Pre-Series A Stock

 
 10,501 – Common Series A Stock

		
	GrainChain, Inc.	  	 4,676,089 – Common Class A Stock
  

4,888,156 – Common Class B Stock

			
		
	Ambr S.a.r.l	  	3,755,869 – Preferred Stock
		
	Factom, Inc.	  	419,932 - Series A Preferred Stock
		
	Vital Chain, Inc.	  	All rights to acquire up to 20% of the common stock and related rights under the Development Services Agreement dated March 4, 2020
		
	Netki, Inc.	  	 Convertible Note Purchase Agreement dated September 18, 2018 and Convertible Promissory Note dated September 19, 2018 as amended on
June 8, 2020; Principal amount - $1,000,000; 5% interest; convertible at 25% discount to next priced round
  

Convertible Note Purchase Agreement dated May 9, 2018 and Convertible Promissory Note dated May 9, 2018 as amended on June 8, 2020; Principal
amount—$200,000; 5% interest; convertible at 10% discount to next priced round

		
	Evernym, Inc.	  	 Rights under Simple Agreement for Future Equity dated August 16, 2019 to convert $2,000,000 at the most favorable to Medici Ventures of
either (a) a 20% discount on the next priced round or; (b) a post-money valuation cap of $35M
  

Rights to acquire equity and related rights under Development Services Agreement dated June 12, 2020

		
	tZERO Group, Inc.	  	81,000,000 – Common Stock and all shares obtained by Medici Ventures for debt conversion and additional investment during the period between signing of the Transaction Agreement and the conversion of Medici into a limited
partnership, the total of which shall not exceed 48% of the outstanding shares of Common Stock of tZERO Group, Inc.

  
 C - 2 

 SCHEDULE A 

GROUP A INVESTMENTS 
  

					
	 Portfolio Company
	  	Reference NAV as of
Formation Date	  	Threshold NAV as of
Formation Date
	 tZERO Group, Inc.
	  	$90,535,341	  	Reference NAV + $92,856,760
 until the 3rd anniversary of the
Formation Date; Reference NAV +
$23,214,190 thereafter

	 Medici Land Governance
	  	$13,544,000	  	$14,644,000
	 Bitt, Inc
	  	$17,988,000	  	$20,788,000
	 PeerNova
	  	$6,461,367	  	$9,261,367
	 Voatz
	  	$4,645,213	  	$8,545,213
	 Minds
	  	$5,999,995	  	$9,499,995
	 GrainChain
	  	$11,190,167	  	$12,790,167
	 Spera Inc.
	  	$2,000,000	  	$6,400,000
	 FinClusive
	  	$3,403,000	  	$7,103,000
	 Ripio (BitPago)
	  	$428,000	  	$1,228,000
	 Vital Chain
	  	$440,000	  	$1,140,000

 SCHEDULE B 

GROUP B INVESTMENTS 
  

					
	 Portfolio Company
	  	Reference NAV as of
Formation Date	 
	 Ambr
	  	$	2,000,000	 
	 SettleMint
	  	$	3,537,088	 
	 Vinsent
	  	$	1,502,729	 
	 Chainstone Labs
	  	$	3,600,000	 
	 Evernym (SAFE)
	  	$	2,000,000	 
	 Symbiont
	  	$	1,051,548	 
	 Votem
	  	$	 0	 
	 FACTOM
	  	$	 0	 
	 NetKi
	  	$	1,200,000	 

 SCHEDULE C 

ADDITIONAL R&W DISCLOSURES 

Disclosures relating to Paragraph 8.6(a)(iv) and Paragraph 8.6(a)(v) 

Reference is made to the specific actions, suits, proceedings and investigations against the Corporation described in: 

 

	 	•	 	 Note 10 to Unaudited Consolidated Financial Statements contained in the Overstock.com, Inc.
(“OSTK”) 10-Q Quarterly Report for the period ended in September 30, 2020 (“2020 Q3 10-Q”) 

 

	 	•	 	 Note 10 to Unaudited Consolidated Financial Statements contained in the OSTK
10-Q Quarterly Report for the period ended in June 30, 2020 (“2020 Q2 10-Q”) 

 

	 	•	 	 Note 6 to the Unaudited Consolidated Financial Statements contained in the OSTK
10-Q Quarterly Report for the period ended in March 31, 2020 (“2020 Q1 10-Q”) 

 

	 	•	 	 Note 12 to Consolidated Financial Statements contained in the OSTK 10-K
Annual Report for the fiscal year ended in December 31, 2019 (“2019 10-K”) 

Between the signing date of the Transaction Agreement and the Closing (as defined in the Transaction Agreement), Overstock will notify the General Partner, in
reasonable detail, of (i) all suits, actions, proceedings and formal investigations commenced, or threatened in writing, against the Corporation or any of its subsidiaries. during such period and (ii) any contingent liability that would be
required to be disclosed by the Corporation and its consolidated subsidiaries in the Corporation’s financial statements prepared in accordance with U.S. generally accepted accounting principles. 

Legal Proceedings 
  

	 	•	 	 Part II Item 1 of the 2020 Q3 10-Q 

 

	 	•	 	 Part II Item 1 of the 2020 Q2 10-Q 

 

	 	•	 	 Part II Item 1 of the 2020 Q1 10-Q 

 

	 	•	 	 Part I Item 3 of the 2019 10-K 

Risk Factors 
  

	 	•	 	 Part II Item 1A of the 2020 Q3 10-Q 

 

	 	•	 	 Part II Item 1A of the 2020 Q2 10-Q 

 

	 	•	 	 Part II Item 1A of the 2020 Q1 10-Q 

 

	 	•	 	 Part I Item 1A of the 2019 10-K 

Forward-Looking Statements 
  

	 	•	 	 Special Cautionary Note Regarding Forward-Looking Statements of the 2020 Q3
10-Q 

  

	 	•	 	 Special Cautionary Note Regarding Forward-Looking Statements of the 2020 Q2
10-Q 

  

	 	•	 	 Special Cautionary Note Regarding Forward-Looking Statements of the 2020 Q1
10-Q 

  

	 	•	 	 Special Cautionary Note Regarding Forward-Looking Statements of the 2019
10-K 

 Government Regulation 
  

	 	•	 	 Part I Item 2 of the 2020 Q1 10-Q 

 

	 	•	 	 Part I Item 2 of the 2020 Q2 10-Q 

 

	 	•	 	 Part I Item 2 of the 2020 Q3 10-Q 

 

	 	•	 	 Part I Item 1 of the 2019 10-K 

  
 C - 2 

 MEDICI VENTURES, L.P. 

LIMITED PARTNERSHIP AGREEMENT 

 EXHIBITS AND SCHEDULES 

 

			
	Exhibit A:	  	Name, Address, Capital Commitments and Partnership Percentages of the Partners
		
	Exhibit B:	  	Portfolio Company Holdings as of Formation Date
		
	Schedule A:	  	Group A Investments
		
	Schedule B	  	Group B Investments
		
	Schedule C:	  	Additional R&W Disclosures

							
		
	 ARTICLE 1 NAME, PURPOSE AND OFFICES OF PARTNERSHIP
	  	 	1	 
			
	 1.1
	 	 Name
	  	 	1	 
			
	 1.2
	 	 Purpose
	  	 	1	 
			
	 1.3
	 	 Principal Offices
	  	 	2	 
			
	 1.4
	 	 Registered Agent and Office
	  	 	2	 
			
	 1.5
	 	 Conversion
	  	 	2	 
		
	 ARTICLE 2 TERM OF PARTNERSHIP
	  	 	3	 
			
	 2.1
	 	 Term
	  	 	3	 
			
	 2.2
	 	 Events Affecting a Manager of the General Partner
	  	 	3	 
			
	 2.3
	 	 Events Affecting a Limited Partner of the Partnership
	  	 	3	 
			
	 2.4
	 	 Events Affecting the General Partner
	  	 	3	 
		
	 ARTICLE 3 NAME AND ADMISSION OF PARTNERS
	  	 	4	 
			
	 3.1
	 	 Name and Address
	  	 	4	 
			
	 3.2
	 	 Admission of Additional Partners; Capital Commitment Increases
	  	 	4	 
		
	 ARTICLE 4 CAPITAL ACCOUNTS, CAPITAL CONTRIBUTIONS AND NONCONTRIBUTING
PARTNERS
	  	 	5	 
			
	 4.1
	 	 Capital Accounts
	  	 	5	 
			
	 4.2
	 	 Capital Contributions of the Limited Partners
	  	 	5	 
			
	 4.3
	 	 Capital Contributions of the General Partner
	  	 	6	 
			
	 4.4
	 	 Noncontributing Partners
	  	 	6	 
		
	 ARTICLE 5 PARTNERSHIP ALLOCATIONS
	  	 	11	 
			
	 5.1
	 	 Allocation of Profit, Loss and Expenses
	  	 	11	 
			
	 5.2
	 	 Special Allocations
	  	 	11	 
			
	 5.3
	 	 Regulatory Allocations
	  	 	11	 
			
	 5.4
	 	 Income Tax Allocations
	  	 	12	 
		
	 ARTICLE 6 MANAGEMENT FEE, PERFORMANCE FEES AND PARTNERSHIP EXPENSES
	  	 	13	 
			
	 6.1
	 	 Management Fee
	  	 	13	 
			
	 6.2
	 	 Performance Fees
	  	 	13	 
			
	 6.3
	 	 Expenses
	  	 	13	 
		
	 ARTICLE 7 WITHDRAWALS BY AND DISTRIBUTIONS TO THE PARTNERS
	  	 	14	 
			
	 7.1
	 	 Interest
	  	 	14	 

							
			
	 7.2
	 	 Withdrawals by the Partners
	  	 	14	 
			
	 7.3
	 	 Limited Partners’ Obligation to Repay or Restore
	  	 	14	 
			
	 7.4
	 	 Tax Distributions
	  	 	14	 
			
	 7.5
	 	 Other Cash Distributions
	  	 	15	 
			
	 7.6
	 	 Withholding Obligations
	  	 	15	 
			
	 7.7
	 	 Overriding Limitation on Distributions
	  	 	16	 
		
	 ARTICLE 8 MANAGEMENT DUTIES AND RESTRICTIONS
	  	 	16	 
			
	 8.1
	 	 Management, Transition Matters
	  	 	16	 
			
	 8.2
	 	 No Control by the Limited Partners; No Withdrawal
	  	 	17	 
			
	 8.3
	 	 Sale or Disposition of Group A Portfolio Company Securities
	  	 	17	 
			
	 8.4
	 	 Time Devotion; Other Activities
	  	 	17	 
			
	 8.5
	 	 Investment Opportunities and Restrictions
	  	 	18	 
			
	 8.6
	 	 Overstock Representations and Indemnification
	  	 	18	 
			
	 8.7
	 	 CFIUS
	  	 	20	 
			
	 8.8
	 	 Subscription Facilities
	  	 	23	 
		
	 ARTICLE 9 INVESTMENT REPRESENTATION AND TRANSFER OF PARTNERSHIP INTERESTS
	  	 	24	 
			
	 9.1
	 	 Investment Representation of the Limited Partners
	  	 	24	 
			
	 9.2
	 	 Qualifications of the Limited Partners
	  	 	24	 
			
	 9.3
	 	 Transfer by General Partner
	  	 	24	 
			
	 9.4
	 	 Transfer by Limited Partner
	  	 	25	 
			
	 9.5
	 	 Requirements for Transfer
	  	 	26	 
			
	 9.6
	 	 Substitution as a Limited Partner
	  	 	27	 
			
	 9.7
	 	 Resignation of the General Partner
	  	 	27	 
		
	 ARTICLE 10 DISSOLUTION AND LIQUIDATION OF THE PARTNERSHIP
	  	 	28	 
			
	 10.1
	 	 Extension of Partnership Term
	  	 	28	 
			
	 10.2
	 	 Early Termination of the Partnership
	  	 	28	 
			
	 10.3
	 	 Winding Up Procedures
	  	 	29	 
			
	 10.4
	 	 Payments in Liquidation
	  	 	30	 
			
	 10.5
	 	 Winding Up Procedures
	  	 	30	 
		
	 ARTICLE 11 FINANCIAL ACCOUNTING AND REPORTS
	  	 	30	 
			
	 11.1
	 	 Financial Accounting; Fiscal Year
	  	 	30	 
			
	 11.2
	 	 Supervision; Inspection of Books
	  	 	30	 

							
			
	 11.3
	 	 Quarterly Reports
	  	 	31	 
			
	 11.4
	 	 Annual Report; Financial Statements of the Partnership
	  	 	31	 
			
	 11.5
	 	 Tax Returns
	  	 	31	 
			
	 11.6
	 	 Partnership Representative
	  	 	32	 
			
	 11.7
	 	 Secure Portal Reporting
	  	 	32	 
		
	 ARTICLE 12 VALUATION
	  	 	33	 
			
	 12.1
	 	 Valuation
	  	 	33	 
		
	 ARTICLE 13 CERTAIN DEFINITIONS
	  	 	34	 
			
	 13.1
	 	 Accounting Period
	  	 	34	 
			
	 13.2
	 	 Adjusted Asset Value
	  	 	34	 
			
	 13.3
	 	 Affiliate
	  	 	34	 
			
	 13.4
	 	 Affiliated Funds
	  	 	34	 
			
	 13.5
	 	 Applicable Carry Rate
	  	 	35	 
			
	 13.6
	 	 Capital Account
	  	 	35	 
			
	 13.7
	 	 13.7 Capital Commitment; Committed Capital
	  	 	35	 
			
	 13.8
	 	 CFIUS
	  	 	36	 
			
	 13.9
	 	 CFIUS Affiliate
	  	 	36	 
			
	 13.10
	 	 CFIUS Regulations
	  	 	36	 
			
	 13.11
	 	 Code
	  	 	36	 
			
	 13.12
	 	 Covered Transaction(s)
	  	 	36	 
			
	 13.13
	 	Critical Technologies	  	 	36	 
			
	 13.14
	 	 Deemed Gain or Deemed Loss
	  	 	36	 
			
	 13.15
	 	 DPA
	  	 	36	 
			
	 13.16
	 	 ERISA
	  	 	36	 
			
	 13.17
	 	 Excess Proceeds
	  	 	36	 
			
	 13.18
	 	 FIRRMA
	  	 	36	 
			
	 13.19
	 	 Foreign Person
	  	 	37	 
			
	 13.20
	 	 Group A Portfolio Company
	  	 	37	 
			
	 13.21
	 	 Group B Portfolio Company
	  	 	37	 
			
	 13.22
	 	 Indemnified Parties
	  	 	37	 
			
	 13.23
	 	 Marketable; Marketable Securities
	  	 	37	 
			
	 13.24
	 	 Material Nonpublic Technical Information
	  	 	37	 
			
	 13.25
	 	 Medici Option
	  	 	37	 

							
			
	 13.26
	 	 Nonmarketable Securities
	  	 	37	 
			
	 13.27
	 	 Original Manager
	  	 	37	 
			
	 13.28
	 	 Overstock
	  	 	37	 
			
	 13.29
	 	 Partnership Percentage
	  	 	37	 
			
	 13.30
	 	 Percentage in Interest; Majority in Interest
	  	 	37	 
			
	 13.31
	 	 Portfolio Investment
	  	 	38	 
			
	 13.32
	 	 Portfolio Company
	  	 	38	 
			
	 13.33
	 	 Prime Rate
	  	 	38	 
			
	 13.34
	 	 Proceeds
	  	 	38	 
			
	 13.35
	 	 Profit or Loss
	  	 	38	 
			
	 13.36
	 	 Reference NAV
	  	 	39	 
			
	 13.37
	 	 Sale
	  	 	39	 
			
	 13.38
	 	 Securities
	  	 	39	 
			
	 13.39
	 	 Securities Act
	  	 	39	 
			
	 13.40
	 	 Substantial Interest
	  	 	39	 
			
	 13.41
	 	 Target Companies
	  	 	39	 
			
	 13.42
	 	 Target Performance Entitlement
	  	 	39	 
			
	 13.43
	 	 Threshold NAV
	  	 	40	 
			
	 13.44
	 	 Transaction Agreement
	  	 	40	 
			
	 13.45
	 	 Treasury Regulations
	  	 	40	 
			
	 13.46
	 	 Trigger Event
	  	 	40	 
			
	 13.47
	 	 Value-Determinative Transaction
	  	 	41	 
		
	 ARTICLE 14 OTHER PROVISIONS
	  	 	41	 
			
	 14.1
	 	 Governing Law
	  	 	41	 
			
	 14.2
	 	 Limitation of Liability of the Limited Partners
	  	 	41	 
			
	 14.3
	 	 Exculpation
	  	 	41	 
			
	 14.4
	 	 Indemnification
	  	 	42	 
			
	 14.5
	 	 Arbitration
	  	 	43	 
			
	 14.6
	 	 Execution and Filing of Documents
	  	 	44	 
			
	 14.7
	 	 Other Instruments and Acts
	  	 	44	 
			
	 14.8
	 	 Binding Agreement
	  	 	45	 
			
	 14.9
	 	 Notices
	  	 	45	 
			
	 14.10
	 	 Power of Attorney
	  	 	45	 

							
			
	 14.11
	 	 Amendment
	  	 	46	 
			
	 14.12
	 	 Entire Agreement
	  	 	46	 
			
	 14.13
	 	 Titles; Subtitles
	  	 	46	 
			
	 14.14
	 	 Limited Partner Actions
	  	 	46	 
			
	 14.15
	 	 Confidentiality
	  	 	46	 
			
	 14.16
	 	 Compliance with Certain Laws
	  	 	49	 

 Exhibit D 

Form of Stockholder Consent 

MEDICI VENTURES, INC. 

Consent of Stockholder 

Pursuant to Section 228 of the General Corporation Law of the State of Delaware 

The undersigned, being the sole stockholder of Medici Ventures, Inc., a Delaware corporation (the “Company”), pursuant to
Section 228 of the General Corporation Law of the State of Delaware (the “General Corporation Law”), does hereby consent to the adoption of, and does hereby adopt, the following resolutions: 

WHEREAS, pursuant to and in accordance with Section 266 of the General Corporation Law, the Board of
Directors of the Company has approved the conversion (the “Conversion”) of the Company to Medici Ventures, L.P., a Delaware limited partnership (the “Partnership”), and the Limited Partnership Agreement of the
Partnership (including the adoption thereof), in the form attached hereto as Exhibit A (the “LPA”), and has recommended, and submitted, such approval to the undersigned, as the sole stockholder of the Company as of the record
date for determining stockholders entitled to vote with respect to the Conversion, the LPA and the other matters set forth herein; 

RESOLVED, that the Conversion and the LPA, be, and hereby are, adopted and approved in all respects; and it is
further 
 RESOLVED, that the certificate of conversion and the certificate of limited partnership of the
Partnership, in substantially the forms attached hereto as Exhibit B and Exhibit C, respectively, be and hereby are adopted and approved in all respects; and it is further 

RESOLVED, that pursuant to the Conversion, all shares of common stock of the Company, par value $0.01 per
share (“Common Stock”), issued and outstanding immediately prior to the Conversion shall, at the effective time of the Conversion, be converted into 99% of the partnership interests in the Partnership, all such partnership interests
being limited partner interests, such that, under the current capital structure, Overstock.com, Inc. shall be the sole limited partner of the Partnership and, simultaneously with the Conversion, Pelion MV GP, L.L.C. will be admitted as the sole
general partner of the Partnership and will be issued by the Partnership, and will own, 1% of the partnership interests in the Partnership; and it is further 

  
 D - 1 

 RESOLVED, that if any outstanding options to acquire shares
of Common Stock are exercised for Common Stock prior to the Conversion, such shares of Common Stock will represent such converting holder’s percentage interest in the Partnership as provided by the LPA; and it is further 

RESOLVED, that the officers of the Company be, and each of them hereby is, authorized, empowered and directed,
for and on behalf of the Company, to take any and all actions, to negotiate for and enter into agreements and amendments to agreements, to perform all such acts and things, to execute, file, deliver or record in the name and on behalf of the
Company, all such certificates (including, without limitation, a certificate of conversion), instruments, agreements, affidavits or other documents (including, without limitation, franchise tax reports), and to make all such payments as they, in
their judgment, or in the judgment of any one or more of them, may deem necessary, advisable or appropriate in order to carry out the purpose and intent of, or consummate the transactions contemplated by, the foregoing resolutions and/or all of the
transactions contemplated therein or thereby, the authorization therefor to be conclusively evidenced by the taking of such action or the execution and delivery of such certificates, instruments, agreements or documents; and it is further 

RESOLVED, that all actions heretofore taken by any director, officer, employee or agent of the Company in
furtherance of the foregoing resolutions be, and they hereby are, adopted, ratified and confirmed as the acts and deeds of the Company. 

The Secretary of the Company is hereby directed to file a signed copy of this Consent in the minute book of the Company. 

 

			
	OVERSTOCK.COM, INC.
		
	By:	 	  

		 	Name: Jonathan E. Johnson III
		 	Title: Chief Executive Officer
		 	Date:

  
 D - 1 

 Exhibit E 

Form of General Partner Consent 

WRITTEN CONSENT OF 

PELION MV GP, L.L.C. 

________ __, 2021 

Approval of Conversion and Partnership Agreement of Converted Entity by General Partner 

Pursuant to Section 17-217(h) of the Delaware Revised Uniform Limited Partnership Act 

The undersigned, Pelion MV GP, L.L.C., a Delaware limited liability company (the “General Partner”), does hereby consent to the
adoption of, and does hereby adopt, the following resolutions by written consent: 
 WHEREAS, pursuant to Section 17-217 of the Delaware Revised Uniform Limited Partnership Act (6 Del. C. § 17-101, et seq.) (the “Act”), a Delaware
corporation may convert to a Delaware limited partnership and Section 17-217(h) of the Act requires the approval of a conversion and a partnership agreement by any person who, at the effective date or
time of the conversion, shall be a general partner of the limited partnership; 
 WHEREAS, Medici Ventures,
Inc., a Delaware corporation (the “Corporation”), is converting to a Delaware limited partnership to be named Medici Ventures, L.P. (the “Partnership”); 

WHEREAS, the General Partner will be the sole general partner of the Partnership at the effective date and
time of the conversion of the Corporation to the Partnership (the “Conversion”); and 
 WHEREAS,
the General Partner desires to approve the Conversion and the Limited Partnership Agreement of the Partnership, in the form attached hereto as Exhibit A (the “LP Agreement”), pursuant to and in accordance with Section 17-217(h) of the Act. 
 NOW, THEREFORE, BE IT RESOLVED, that
the General Partner, as the person who, at the effective date and time of the Conversion, will be the sole general partner of the Partnership, hereby adopts and approves in all respects the Conversion and the LP Agreement in substantially the form
attached hereto as Exhibit A, pursuant to and in accordance with Section 17-217(h) of the Act. 

IN WITNESS WHEREOF, the undersigned has executed this consent on the date first written above. 

  
 E - 1 

 
			
	PELION MV GP, L.L.C.
		
	By:	 	  

		 	Name:
		 	Title:

  
 E - 1 

 Exhibit F 

Accredited Investor Questionnaire 
 Please
check any and all boxes that apply. You must check at least one box from each of Sections I and II. 
  

	I.	 “Accredited Investor” Status 

If the undersigned is an individual: 
  

	 	☑	 He or she has individual net worth,1 or joint net worth
with his or her spouse or spousal equivalent,2 that exceeds $1,000,000; 

  

	 	☑	 He or she had an individual income3 in excess of $200,000
in each of the two most recent years or joint income with his or her spouse or spousal equivalent in excess of $300,000 in each of those years and reasonably expects to reach the same income level in the current year; 

 

	 	☑	 He or she is an investment adviser registered pursuant to Section 203 of the Investment Advisers Act of
1940, as amended, or registered pursuant to the laws of a state 

  

	 	☑	 He or she is an investment adviser relying on the exemption from registering with the Securities Exchange
Commission under Section 203(l) or (m) of the Investment Advisers Act of 1940, as amended 

  

	1 	 The term “net worth” means assets (excluding the value of a primary residence) minus
liabilities (excluding any debt secured by a primary residence), provided, that: (i) if the amount of the debt secured by a primary residence is greater than the estimated fair market value of the primary residence, you must include such
excess amount as a liability, and (ii) if you borrowed any amount secured by a primary residence within the 60-day period prior to the date indicated below, you must include such amount as a liability
unless such borrowing resulted from the acquisition of the primary residence. 

	2 	 The term “spousal equivalent” is defined as a cohabitant occupying a relationship generally
equivalent to that of a spouse 

	3 	 The term “individual income” means adjusted gross income as reported for federal income tax
purposes, less any income attributable to a spouse or to property owned by a spouse, increased by the following amounts (but not including any amounts attributable to a spouse or to property owned by a spouse), and the term “joint
income” means adjusted gross income as reported for federal income tax purposes, including any income attributable to a spouse or to a property owned by a spouse, increased by the following amounts (including any amounts attributable
to a spouse or to property owned by a spouse): (i) the amount of any interest income received which is tax exempt under Section 103 of the Internal Revenue Code; (ii) the amount of losses claimed as a limited partner in a limited
partnership (as reported on Schedule E of Form 1040); and (iii) any deduction claimed for depletion under Section 611 et seq. of the Internal Revenue Code. 

  
 F - 1 

	 	☑	 He or she is in good standing of one or more professional certifications or designations or credentials from an
accredited educational institution that the Securities and Exchange Commission has designated as qualifying an individual for accredited investor status;4 

 

	 	☑	 He or she is a “knowledgeable employee,” as defined in Rule
3c-5(a)(4) under the Investment Company Act of 1940, as amended; 

  

	 	☑	 Neither of the statements above applies. 

If the undersigned is an entity: 
  

	 	☑	 It is a corporation, partnership, limited liability company, or Massachusetts or similar business trust, or a
charitable organization described in Section 501(1)(c)(3) of the Internal Revenue Code, in each case not formed for the specific purpose of acquiring the securities offered and having total assets in excess of $5,000,000; 

 

	 	☑	 It is a Rural Business Investment Company as defined in Section 384A of the Consolidated Farm and Rural
Development Act, as amended; 

  

	 	☑	 It is an entity as to which all of the equity owners are “accredited investors” under one or more of
the categories described herein;5 

  

	 	☑	 It is a trust with total assets in excess of $5,000,000 not formed for the specific purpose of acquiring the
securities offered, whose purchase is directed by a person with such knowledge and experience in financial and business matters that such person is capable of evaluating the merits and risks of the prospective investment; 

 

	 	☑	 It is an entity, of a type not listed above, not formed for the specific purpose of an interest in the
Partnership, owning investments in excess of US$5,000,000; 

  

	 	☑	 It is a “family office,” as defined in Rule 202(a)(11)(G)-1
under the Investment Advisers Act of 1940, as amended, with assets under management in excess of $5,000,000, that is not formed for the specific purpose of acquiring an interest in the Partnership and whose prospective investment is directed by a
person who has such knowledge and experience in financial and business matters that such family office is capable of evaluating the merits and risks of the prospective investment; or 

 

	 	☑	 It is a “family client,” as defined in Rule 202(a)(11)(G)-1
under the Investment Advisers Act of 1940, as amended, of a family office meeting the requirements described above and whose prospective investment in the Partnership is directed by such family office pursuant to the description above

  

	4 	 Such professional certifications include the General Securities Representative license (Series 7), the Private
Securities Offerings Representative license (Series 82) and the Licensed Investment Adviser Representative (Series 65). 

	5 	 It is permissible to look through various forms of equity ownership to natural persons in determining the
accredited investor status of entities under this paragraph. If those natural persons are themselves accredited investors, and if all other equity owners of the entity seeking accredited investor status are accredited investors, then this item may
be available. 

  
 F - 2 

	 	☑	 None of the statements above applies. 

 

	II.	 “Bad Actor” Status. Are you subject to any conviction, order, injunction, judgment, decree,
suspension, expulsion, bar, investigation, or any other “bad actor” disqualification event described in Rule 506(d)(1) of Regulation D (as detailed in Annex A hereto)? Please answer “Yes” if any of statements
(i) through (viii) in Annex A apply to you. 

 Yes ☐
            No ☐ 
  

			
	Print Name:	 	
                     
                    

			
	By:	 	
                     
                

	Name:	 	              

	Its:	 	
             

			
	State of residence/principal office: 
                                        

			
	Date:	 	
                 

 Accredited Investor Questionnaire 

  
 F - 3 

 Annex A to Exhibit F 

“Bad Actor” Status 

The “Bad Actor” disqualification provisions of Rule 506(d) of Regulation D, promulgated under the Securities Act of 1933, as amended
(the “Securities Act”) may apply if you: 
 (i) Have been convicted, within the last ten years, of any felony or
misdemeanor: 
  

	 	(A)	 In connection with the purchase or sale of any security; 

 

	 	(B)	 Involving the making of any false filing with the U.S. Securities and Exchange Commission (the
“SEC”); or 

  

	 	(C)	 Arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer,
investment adviser or paid solicitor of purchasers of securities; 

 (ii) Are subject to any order, judgment or decree of
any court of competent jurisdiction, entered within the last five years, that, as of the date hereof, restrains or enjoins you from engaging or continuing to engage in any conduct or practice: 

 

	 	(A)	 In connection with the purchase or sale of any security; 

 

	 	(B)	 Involving the making of any false filing with the SEC; or 

 

	 	(C)	 Arising out of the conduct of the business of an underwriter, broker, dealer, municipal securities dealer,
investment adviser or paid solicitor of purchasers of securities; 

 (iii) Are subject to a final order of a state
securities commission (or an agency or officer of a state performing like functions); a state authority that supervises or examines banks, savings associations, or credit unions; a state insurance commission (or an agency or officer of a state
performing like functions); an appropriate federal banking agency; the U.S. Commodity Futures Trading Commission; or the National Credit Union Administration that: 
  

	 	(A)	 As of the date hereof, bars you from: 

 

	 	(1)	 Association with an entity regulated by such commission, authority, agency, or officer; 

 

	 	(2)	 Engaging in the business of securities, insurance or banking; or 

 

	 	(3)	 Engaging in savings association or credit union activities; or 

 

	 	(B)	 Constitutes a final order based on a violation of any law or regulation that prohibits fraudulent,
manipulative, or deceptive conduct entered within the last ten years; 

 (iv) Are subject to an order of the SEC entered
pursuant to section 15(b) or 15B(c) of the Securities Exchange Act of 1934, as amended (15 U.S.C. 78o(b) or 78o-4(c)) or section 203(e) or (f) of the Investment Advisers Act of 1940, as amended (15 U.S.C. 80b-3(e) or (f)) that, as of the date hereof: 

  
 F - i 

	 	(A)	 Suspends or revokes your registration as a broker, dealer, municipal securities dealer or investment adviser;

  

	 	(B)	 Places limitations on your activities, functions or operations; or 

 

	 	(C)	 Bars you from being associated with any entity or from participating in the offering of any penny stock;

 (v) Are subject to any order of the SEC entered within the last five years that, as of the date hereof, orders you to
cease and desist from committing or causing a violation or future violation of: 
  

	 	(A)	 Any scienter-based anti-fraud provision of the federal securities laws, including without limitation section
17(a)(1) of the Securities Act (15 U.S.C. 77q(a)(1)), section 10(b) of the Securities Exchange Act of 1934, as amended (15 U.S.C. 78j(b)) and 17 CFR 240.10b-5, section 15(c)(1) of the Securities Exchange Act
of 1934, as amended (15 U.S.C. 78o(c)(1)) and section 206(1) of the Investment Advisers Act of 1940, as amended (15 U.S.C. 80b-6(1)), or any other rule or regulation thereunder; or 

 

	 	(B)	 Section 5 of the Securities Act (15 U.S.C. 77e); 

(vi) Are suspended or expelled from membership in, or suspended or barred 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; 

(vii) Have filed (as a registrant or issuer), or were an underwriter in or named as an underwriter in, any registration statement or Regulation
A offering statement filed with the SEC that, within the last five years, was the subject of a refusal order, stop order, or order suspending the Regulation A exemption, or is, as of the date hereof, the subject of an investigation or proceeding to
determine whether a stop order or suspension order should be issued; or 
 (viii) Are subject to a United States Postal Service false
representation order entered within the last five years, or are, as of the date hereof, subject to a temporary restraining order or preliminary injunction with respect to conduct alleged by the United States Postal Service to constitute a scheme or
device for obtaining money or property through the mail by means of false representations. 
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