VII. SUMMARY OF PARTNERSHIP TERMS The following information is presented as a summary of the Fund’s principal terms only and 1s qualified in its entirety by reference to the Fund's Amended and Restated Limited Partnership Agreement (as amended, restated or otherwise modified from time to time, the “Partnership Agreement”) and the subscription agreement relating thereto (together with the Partnership Agreement, the “Agreements”), copies of which will be provided to each prospective investor prior to the acceptance of any subscription. Prior to making any investment in the Fund, the forms of such Agreements should be reviewed carefully. If the terms described in this Memorandum are inconsistent with or contrary to the terms of the Agreements, the Agreements shall control. The Fund: New Leaf Ventures III, L.P., a Delaware limited partnership (the “Fund”). General Partner: New Leaf Venture Associates III, L.P., a Delaware limited partnership (the “General Partner”), is the sole general partner of the Fund. The general partner of the General Partner is New Leaf Venture Management III, L.L.C, a Delaware limited liability company (the “GPLLC”). The initial managing members (the “Principals”) of the GPLLC are Philippe Chambon, Jeani Delagardelle, Ronald Hunt, Vijay Lathi and Liam Ratcliffe. Investment Objective: To generate significant returns, principally through long-term capital appreciation, by making, holding and disposing of equity and equity-related investments, principally in healthcare, medical device and life sciences companies. Size of Offering: The Fund is targeting capital commitments (“Commitments”) of $375 million with respect to limited partner interests (the “Limited Partner Interests”). The General Partner may accept a greater or lesser amount of Commitments from Limited Partners (as defined below) in its discretion. Minimum Investment: The minimum capital commitment of a limited partner to the Fund (collectively, the “Limited Partners” and toge