The Zerocoin Electric Coin Company From: Jack Gavigan Subject: December 2016 Auction of ZEC Date: 21st December 2016 1. The Zerocoin Electric Coin Company LLC ("ZECC") intends to conduct an auction in order to sell an amount of ZEC for US Dollars (USD). 2. Interested parties should register their interest by emailing and supplying the following information: a. The name, address and state of registration of the company taking part in the auction (the "Participant"), b. The name, email address and phone number of the person who will participate in the auction on behalf of the Participant (the "Trader"), c. The name, email address and phone number of the person who is authorised to sign the bill of sale on behalf of the Participant (the "Signatory"), d. The transparent Zcash payment address ("t-address") to which ZEC should be transferred in the event that the Participant submits a winning bid. 3. ZECC will draft a simple, non-binding Letter of Intent, indicating: a. ZECC's intent to conduct an auction, b. the Participant's intent to participate in the auction, c. the participating company's intent, in the event that it submits a winning bid, to pay the appropriate amount of USD (the "Funds"), by wire transfer directly to ZECC's bank account, by the end of the first business day following the conclusion of the auction, and d. ZECC's intent to remit the corresponding amount of ZEC to the Participant's t-address within 24 hours of confirming receipt of the Funds. The details listed in paragraph 2 above, ZECC's bank wire transfer details, and a copy of this memorandum will be attached to the Letter of Intent (see example below). Both Zooko (acting in his capacity as CEO of ZECC) and the Signatory will digitally sign the Letter of Intent using the DocuSign service. EFTA00603348