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[Please use company letterhead and sign] DRAFT December 2, 2014 Joi Ito Director MIT Media Lab c/o Marissa Wozniak 77 Massachusetts Avenue, E14-245 Cambridge, MA 02139 Dear Joi, In appreciation of the work being done at the MIT Media Lab, I hereby inform you of an unrestricted gift of $5 million from the Leon Black Family Foundation to support your ongoing initiatives. $1 million will be paid immediately and the remaining $4 million will be paid by December 31, 2015. These funds will be wired from our Foundation account to the MIT Media Lab account at Bank of America. With best wishes for the future, Leon D. Black President EFTA00587736