On October 16, 2018, Long Blockchain Corp. and TSLC PTE Ltd. entered into a separation and mutual release agreement pursuant to which the parties mutually terminated the Agreement effective as of October 16, 2018. Additionally, pursuant to the Separation Agreement, TSLC's nominee to the Board, Sanjay Sachdev, resigned from the Board and from each committee on which he served, effective November 30, 2018. Mr. Sachdev's resignation was not due to any disagreement with the Company or its management on any matter relating to the company's operations, policies, or practices.