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No argument from me.

In my last conversation with John, I don’t think there will be a problem paying 150 bps. Questions outstanding are is that paid out at once or over a period of years. And if we are paying an incentive fee to Troy or another TPM should RSPI get one.

I would propose amongst this group that RSPI get 150 bps with no incentive fee but since we are giving that up the placement fee is paid out in a one time fee (it can even be two payments - but not over five years). The main reason is that since some of the stuff Dan is working on currently has a longer sell cycle it would be better for him to have some immediate revenue in from this stuff.

The other key point is that I want Dan to be involved because he’ll be an effective salesperson since he has a great network, he is part of the RSP brand already and we want to look like a coordinated unit - but if John starts thinking that Dan “works” for him that’s not going to work. (And let’s just be honest - that’s what John is going to think and that’s initially what is going to happen.) Happy to turn Dan’s list we carve out over to Troy or another TPM firm if Dan’s time gets monopolized on this and he’s not working on clients that pay a retainer, offer a fee trail and pay an incentive fee.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
P Consider the environment before printing this email.


On Feb 13, 2014, at 2:00 PM, Hunter Biden <hbiden@rosemontseneca.com> wrote:

> I thought about this in relation to RSPI and Dan. I don't know why we are "negotiating" with Jon on fees for mkt'ing the fund. We have a 51% stake in RSTP - we aren't minority shareholders here. I don't mind talking it out with Jon but I refuse to let him "dictate" terms as if he is the final say here- if we want to pay Dan the industry standard than that's what we will do. By the way I think we should stick to 1.5%- otherwise I think it's insulting to RSPI and Dan personally.
>
> RHB
> 202.333.1880
>
> Begin forwarded message:
>
>> From: John DeLoche <jdeloche@rosemontseneca.com>
>> Date: February 13, 2014 at 11:57:32 AM EST
>> To: Neil Callahan <ncallahan@rosemontseneca.com>, Devon Archer <darcher@rosemontseneca.com>, Will Lee <wlee@rosemontseneca.com>, Hunter Biden <hbiden@rosemontseneca.com>, Eric Schwerin <eschwerin@rosemontseneca.com>, Rob Walker <rwalker@rosemontseneca.com>
>> Subject: Fwd: Follow-up
>>
>> From our friends at Landmark
>>
>> Sent from my iPhone
>>
>> Begin forwarded message:
>>
>>> From: "Humber, Scott" <Scott.Humber@landmarkpartners.com>
>>> Date: February 13, 2014 at 8:50:10 AM PST
>>> To: 'John DeLoche' <jdeloche@rosemontseneca.com>
>>> Subject: Follow-up
>>>
>>> John,
>>>
>>> Good to connect live with you yesterday. As discussed, attached is a summary overview of the company I mentioned called Datamine. The company has been around since the mid-90s as more of an analytics consultancy business. Through the years they have developed and own data analytics processes, programs and products that help companies drive performance. They have existing enterprise-scale clients and are raising capital to assist with resource constraints that currently prevent them from product development of their IP. They believe the market opportunity is huge. Since they are based in New Zealand, they would love to get some strategic capital in the U.S., particularly given the size of the market opportunity here vs. there. As I mentioned, the company is small today at about $4M but they believe they can scale to $70M+ in the next 5+ years.
>>>
>>> I would be interested to hear your perspective and if you have any specific thoughts or ideas. Given your background, I’m sure they would welcome your input, and I could easily coordinate a call. After you have a chance to spin through the memo let me know your thoughts.
>>>
>>> Again, good to speak with you and I look forward to hearing back.
>>>
>>> Scott
>>>
>>> _____________________________________________
>>> Scott N. Humber
>>> Landmark Partners
>>> 265 Franklin Street, 18th Floor | Boston, MA 02110
>>> 617.556.3915 (v) | 617.556.4266 (f) | 617.680.2998 (m)
>>> scott.humber@landmarkpartners.com
>>> Confidentiality Notice:
>>> This communication, including attachments, is for the exclusive use of addressee and may contain proprietary, confidential and/or privileged information. If you are not the intended recipient, any use, copying, disclosure, dissemination or distribution is strictly prohibited. If you are not the intended recipient, please notify the sender immediately by return e-mail, delete this communication and destroy all copies. Email sent to and from Landmark Partners and its affiliates are subject to archival, monitoring, and/or disclosure to someone other than the recipient including regulators if requested. Thank you. Landmark Partners.
>>>
> <201312 Datamine Information Memorandum.pdf>