Free Declaration - District Court of Arizona - Arizona

E h °b °t 66
Case 2:02-cv-02099-RCB Document 345-69 Filed O3/10/2006 Page10f2

MAR 20 2001 12:05 FR GTCR GOLDER RAUNER 312 382 2201 TO 91·¢180T08‘5‘5$0 P. 02`JOZ
I
PARTNERS wrrrt MANAGEMENT IN Pxtwvrn Eqorrv
March 19, 2001 _
Mr. Michael Makings
Chief Executive Officer
LeapSource
7333 South Hardy Drive, Suite 102
Tempe, AZ 85283
Dear Mike:
As you know, GTCR previously communicated with the Company its intent to discontinue the investment
of iimds into Leapsource. Over the past several weeks, GTCR, the Board of Directors, and the
management of Leapsource have reviewed the financial outlook for the Company, and have pursued
numerous Enancing options for the Company. To date, the Company has not secured additional financing,
and the Company represents that it requires additional $9·$12 million in funds to serve its existing
customers over the next 6~9 months.
This letter serves to notify you that GTCR will not continue to invest in the Company beyond a maximum
funding of $750,000 for this next payroll period ending March 31, 2001. Although we believe we are not I
required to nrnd any further dollars at this point, we will fund up to $750,000 purely to allow Leapsource to
provide for an orderly transition ofthe outsourced accounting operations back to their clients with minimal Q
disruption as possible. We suggest the Company immediately notify all customers of this decision and I
provide for an orderly transition of services. I
As always, we may revisit our decision should the Company‘s current situation change. i
Very truly yours,
GTCR FUND VI, L.P. GTCR ASSOCIATES V1
By: GTCR Partners VI, L.P. By: GTCR Partners VI, L.P.
Its: General Partner Its: Managing General Partner
By: GTCR Golder Rauner, L.L.C. By: GTCR Golder Rauner, L.L.C.
Its: General Partner lts: General Partner
Name: ‘ ’ Name: ‘ . ` ’
Its: » Principal Its: Principal
I GTCR VI EXECUTIVE FUND, L.P.
By: GTCR Partners VI, L.P.
Its: General Parmer
By: GTCR Golder Rauner, L.L.C.
Its: General Partner
EXHIBIT
Name , '
lts: Principal 5 02*/ U
GTCR GOL;;It RAUNEIL, uc · 6100 Sears Tower · Chicago, Illinois 60606-6402 Eg? 00954
one $12382.2200 · Fax 3123822201 · www.gtcr.com g
Case 2:02-cv-02099-RCB Document 345-69 Filed O3/10/2006 Page 2 of 2

Case 2:02-cv-02099-RCB

Document 345-69

Filed 03/10/2006

Page 1 of 2

Case 2:02-cv-02099-RCB

Document 345-69

Filed 03/10/2006

Page 2 of 2