Case File
efta-efta00602656DOJ Data Set 9OtherOPTION A
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DOJ Data Set 9
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efta-efta00602656
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OPTION A
WorldVu Limited
Summary of Proposed Terms for Share Sale and Wyler Employment
May 10, 2014
I. Transaction Structure
Seller:
Target:
1110 Ventures Limited
101 Convention Center Drive, Suite 700
Las Vegas, NV 89109
WorldVu Satellites Limited
13 Castle Street
St Helier
Jersey JE4 5UT
Percent of Total Shares to be sold:
85%
Form of Transaction:
Cash or Google Shares (Type of shares TBD)
Purchase Price:
$500,000,000
1110 Ventures Gross Rights:
ill 0Ventures shall receive a I% royalty from the gross
sales of WorldVu Satellites
Call/Put Options:
Call
After system activation
Up to 5% of the
shares
Call
1/1/2020
Up to 5% of the
shares
Call
1/1/2025
Up to 5% of the
shares
Put
Anytime
Up to $500m of
shares
Put
Anytime after system
activation
Up to $ lb of shares
Put
Anytime after 2025
Remainder
Valuation Method:
Dividends:
Restrictions on Transfer:
II. Employment of Gregory Wyler
Position:
Compensation:
Company valuation by one banker for each party. If
neither party agrees, or the bankers are >15% apart. then
Company shall issue dividends when reasonable and
requested by other party.
Shares may not be transferred to other parties without all
shareholders approval.
CEO of WorldVu Satellites Ltd, reporting to the BOD
TBD by the board, but no less than current compensation
EFTA00602656
III. Governance
Board of Directors:
Operations:
Hiring:
Accounting Structure:
Voting:
Non-Voting:
3 independent
Independent with synergy
Its own ladder
3 from Google
1 from 1110 Ventures
WorldVu Satellites
Ltd.
EFTA00602657
OPTION B
WorldVu Limited
Summary of Proposed Terms for Sale of Shares
May 10, 2014
I. Transaction Structure
Issuer:
Founder:
Form of Investment:
Amount of Investment:
Total Investment:
Fully Funded Capital Table:
WorldVu Satellites Limited
13 Castle Street
St Helier
Jersey JE4 5UT
1110 Ventures Limited (Greg Wyler)
Series B Shares
TBD
$1 - $2b (with possible debt/country sales)
Shareholder
Percent
Shares
Investment I
I 110Ventures
(including
employees)
_
Google Inc.
25%
Series A
Founder
? %
Series B
Other A
? %
Other B
? %
Other C
? %
Investor Requirements:
Goal:
Series A Share:
Funding will be limited to friendly investors with strong
mission alignment.
To have a friendly investor base focused on LONG
TERM mission and value creation.
Series A shares will have super-voting rights
Follow on funding
Options:
Sale of country rights (I.E. time based market exclusivity)
Debt Issue
Public Offering
Google Strategic:
Google shall have strategic opportunity and partnerhips
such as:
1) Using Google Sign On
2) Co-Location of Google Content at Gateways
3) ROFR on new share sales to limit investor base
4) Google zero (free access to other than YouTube) in
certain countries?
Other rights TBD in a follow on term sheet.
EFTA00602658
Related Documents (6)
DOJ Data Set 10CorrespondenceUnknown
EFTA Document EFTA01924787
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DOJ Data Set 9OtherUnknown
From: Greg Wyler <
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DOJ Data Set 9OtherUnknown
DS9 Document EFTA00965378
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DOJ Data Set 10CorrespondenceUnknown
EFTA Document EFTA01916848
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DOJ Data Set 11OtherUnknown
EFTA02406748
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DOJ Data Set 10OtherUnknown
EFTA01751970
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