It is very confusing. If you look at the February 14 Disclosure Statement re: TPL Plan it gave a possible explanation of how the TPL seat and third seat might be filled. However if you look at the Amended Disclosure Statement re: TPL Plan (same date) that explanation is no longer is there. I'm not sure if it means that the language is gone or still there. The amended version has a lot less pages, so perhaps all the language not shown is still incorporated? Ron, Brian anyone?

Disclosure Statement re: TPL Plan of Reorganization 12-14-14 pgs 44-45

At the Effective Date, Daniel Leckrone will resign from the PDS Management

Committee. TPL shall allow the Committee to select an individual to fill its seat on the PDS Operating Committee. for such time until the Allowed Claims have been paid in full, at which time Mr. Leckrone’s seat on the PDS Operating Committee shall be restored to him (or his heir, successor or assign) automatically and without further Order of the Bankruptcy Court though Mr. Leckrone may decline to accept the seat. There is no limitation, unstated or otherwise, on the powers of the OCC representative appointed to the PDS Board. The OCC representative shall be able to exercise each and every power held by a member of the PDS Management Committee, which powers are set forth in paragraph 4.3(a) through 4.3(h) of the PDS Operating Agreement, a copy of which is attached hereto as Exhibit F hereto.

Any request for a capital call from the PDS Management Committee could result in PTSC taking majority control of the MMP Portfolio given the admission by PTSC in its October 15, 2013 10Q Statement filed with the Securities and Exchange Commission.12

Paragraph 4.2(c) of the PDS Operating Agreement specifies how the third board member is appointed if there is not agreement on the third person’s identity. That paragraph provides as follows: “[i]n the event that the Patriot Appointee and the TPL Appointee are unable to appoint a mutually acceptable Manager within 10 days of the resignation or removal of the Independent Manager, either party may apply to the [AAA] in Santa Clara County, or the nearest county thereto, if necessary, for the appointment of the Independent Manager and the AAA shall select

the Independent Manager from a list of no more than three persons submitted by each party.”

The OCC representative and PTSC can, once TPL gives up its seat, either agree on a mutually acceptable Independent Manager or utilize the procedure set forth in this paragraph to select one.

TPL shall continue to manage licensing, and litigation, and pay its contingent fee counsel and Alliacense according to the terms of the contracts with each of them and will be free to enter into new contracts with counsel and service providers to prosecute existing or future litigation, manage prosecution and maintenance of patent Portfolios it commercializes and assist in its business affairs in its business judgment. TPL will also pay third-party litigation costs in its various litigations as well as pay for prosecution and maintenance related to the portfolios it licenses.

TPL Amended Disclosure Statement 2-14-14 pgs. 14-15

4.08 At the Effective Date, Daniel Leckrone will resign from the PDS Management Committee. TPL shall allow the Committee to select an individual to fill its seat on the PDS Management Committee for such time until the Allowed Claims have been paid in full, at which time Mr. Leckrone’s seat on the PDS Management Committee shall be restored to him (or his heir, successor or assign) automatically and without further Order of the Bankruptcy Court, though Mr. Leckrone may decline to accept the seat. There is no limitation, unstated or otherwise, on the powers of the OCC representative appointed to the PDS Board. The OCC representative shall be able to exercise each and every power held by a member of the PDS Management Committee, which powers are set forth in paragraph 4.3(a) through 4.3(h) of the PDS Operating Agreement, a copy of which is attached hereto as Exhibit F to the Disclosure Statement. 4.09 TPL shall continue to manage licensing, and litigation, and pay its contingent fee counsel and Alliacense according to the terms of the contracts with each of them and will be free to enter into new contracts with other counsel and service providers to prosecute existing or future litigation, manage prosecution and maintenance of patent Portfolios it commercializes and assist in its business affairs in its business judgment. TPL will also pay third-party litigation costs in its various litigations as well as pay for prosecution and maintenance related to the portfolios it license

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