5th Board Meeting

Date : 5 January 2013 ( Saturday )

Time: London, UK 2.30pmNew York, USA: 10.30amCalifornia, USA: 6.30am

Malaysia: 10.30pm

Conference Call Information : Skype id :BeautyArbitrage

Skype Group : Arbirage

for Stanford University Venture Lab 2012

Agenda & Purpose

Agenda & Purpose (2 Minutes )

Highlight & lowlights summary (8 Minutes)

Action items from last Board meeting & Progress (24 Minutes)

Key challenges & Decisions / Next step for resolving & implementing (24 Minutes )

Confirm next Board meeting time and location( 2 Minutes )

Highlights & Lowlights

1) Alex Chan would not be offer equity after course end

2) Brief on current status a) eBay Uk, eBay Australia, ebay US b) Introduction of Malaysia Michelle Yeoh (Bond Girl from Ipoh) Jimmy choo (Shoe Designer base in UK )

Action item from last meeting & Progress :

1) Code of ethical No Board member send new suggestion

2) 1/10 of a penny per shares Email

3) Crowd Funding UK now or wait for US’s SEC http://www.indiegogo.com/

Action item from last meeting & Progress :

4) Team Building bricks: Team ethical code walls : Team Building Cathedrals : Funding (Refer : Discuss What it like working together

below : ) Srini : Silicon Valley (Seed Funding) Nevada Corporation

Cory : New York ( Product /market fit ) Delaware Corporation

Sam : London ( Crowd funding : Crowdcube.com) UK based limited Co

Peter : Malaysia (Corporate investor : Berjaya Group) might have to give up majority shareholding. However can do M&A like Friendster acquisition. Might closed down office in US like Frienster office in Silicon Valley.

Constraints : Human Resources

Action item from last meeting & Progress :

5) Team Building (Refer Cathedrals funding above)

Equity or share option

Before funding: 0.25% to 2% of the company vesting over 4 years

1) Fixed to all Board Member 2) Base on attendance,Accomplishment,contribution

decided by Board 3) Decided by CEO minimum 0.25% maximum 2% base

on attendance, Accomplishment and contribution. http

://www.feld.com/wp/archives/2004/07/boards-that-are-not-bored.html

After funding : Co-founder of facebook : 6% of company vesting over 3 years

Action item from last meeting & Progress :

6) Future Board Meeting

One Week per meeting ( 52 meeting per year )

2 weeks per meeting ( Existing course )

One month per meeting ( 12 meeting per year )

2 months per meeting ( 6 meeting per year )

3 months per meeting ( 4 meeting per year )

Key Challenge & Decision

Software Intellectual Property

Facebook apps for gift that link with facebook

Correspondence address in UK and US1) Need to Registered as branch or Representative Office2) Tax implication like VAT or Sales tax3) Legal administrative like need to submit audited account to respective country?4) Address of services provider like web designer etc?

Action to be Accomplished :

1) Team Building / Brand Building / funding

A) Tax implication and legal implication for team member to have title like VP on Marketing, Country Manager, Human Resources Manager etc, and effect to your present employer, if any.

B) Connect with Linkedin Page http://www.linkedin.com/company/arbirage-sdn-bhd

C) Update on Crunch Base profile under “people” http://www.crunchbase.com/company/arbirage

D) Brand Building US – AOL etc UK – Mumsnet etc

Next meeting time & location :

Date : 2 February 2013 ( Saturday )

Time: London, UK 2.30pmNew York, USA: 10.30amCalifornia, USA: 6.30amMalaysia: 10.30pm

Conference Call Information : Skype id :BeautyArbitrage Skype Group : Arbirage