Scope of Services: Portfolio Valuations - Software

At Client’s discretion, advise Client on any questions related to developing or refining a valuation policy.

Provide the Carta Implementations Manager with a list of all funds to be created or merged under the principal fund account.

Initial account onboarding including:

• Merging all existing fund accounts under the principal account;

• Creating new fund accounts not already existing on the platform;

• Request capitalization table access from any portfolio

  At Client’s discretion, advise Client on any questions related to developing or refining a valuation policy.

  For non-fund administration clients, provide the Carta Implementations Manager with a list of all funds to be created or merged under the primary fund account.

  Initial account onboarding including:

  Merging all existing fund accounts under the principal account;

  Creating new fund accounts not already existing on the platform;

  Request capitalization table access from any portfolio companies that use Carta for capitalization table management; and

  Add initial users to the Client’s account and determine which users should have Administrative access (the ability to provision access).

  Provide the Carta Implementations Manager with a list of users to add to the account as well as which funds those users should have access to.

  Create capitalization tables for any companies that do not use Carta for capitalization table management.

  that use Carta for capitalization table management; and

• Add initial users to the Client’s account and determine which users should have Administrative access (the ability to provision access).

Provide the Carta Implementations Manager with a list of users to add to the account as well as which funds those users should have access to.

Create capitalization tables for any companies that do not use Carta for capitalization table management.

Construct the breakpoints and waterfall for each company and upload them to the valuation model.

Provide the Carta implementation manager all articles of organization and ownership data necessary to complete waterfall.

Provide an initial valuation software training, including a training of the capitalization table builder so the fund is able to onboard and maintain capitalization structures for companies that do not use Carta for capitalization table management.

Invite any internal users that would like to participate in the initial valuation software training.

Provide notifications of any new feature released and offer demos of these features.

Request training updates of any new features, if desired.

Annual check-in with a Valuation Manager to discuss any trends we have seen in the regulatory valuation market, provide a software re-training if necessary, and get feedback on their experience with the valuation platform in the prior year.

Invite any internal users that would like to participate in the valuation industry update, re-training on the platform, or provide feedback.

Provide auditors with the background calculations related to market data sourced from third party providers.

Defend any methodological assumptions or selections used in the valuation. This includes any selected valuation methodologies, and allocation methods as well as selected market inputs (comparable public companies and guideline transactions, revenue and EBITDA multiples, volatility, time to exit, etc.).

Respond to audit questions related to the software’s core calculations.

Defend any Subject Company data incorporated in the valuation analysis.