PLEASE READ THE INSTRUCTIONS SET FORTH
IN THIS LETTER OF TRANSMITTAL CAREFULLY
Ladies and Gentlemen:
The undersigned hereby tenders to Orwell Acquisition Corporation, a Delaware corporation (“Merger Sub”), and a direct wholly-owned subsidiary of NCR Corporation, a Maryland corporation (“NCR”), pursuant to the Offer to Purchase, dated November 2, 2018, (the “Offer to Purchase”), the above-described shares of common stock, $0.001 par value (the “Common Shares”), shares of Series A Convertible Preferred Stock, par value $0.001 (the “Series A Preferred Shares”), shares of SeriesA-1 Convertible Preferred Stock, par value $0.001 (the “SeriesA-1 Preferred Shares”) and/or shares of SeriesA-2 Convertible Preferred Stock, par value $0.001 (the “SeriesA-2 Preferred Shares” and together with the Series A Preferred Shares and SeriesA-1 Preferred Shares, the “Preferred Shares,” which, together with the Common Shares, constitute the “Shares”), of JetPay Corporation, a Delaware corporation (“JetPay”), pursuant to the offer to purchase all outstanding Shares for cash, as follows:
1. the offer price for the Common Shares and the Common Shares underlying each Series A Preferred Share upon conversion is $5.05 per Common Share, paid to the seller in cash, without interest, subject to any required withholding of taxes; and
2. the offer price for each SeriesA-1 Preferred Share and SeriesA-2 Preferred Share is $600 per each such SeriesA-1 and SeriesA-2 Preferred Share,
in each case, upon the terms and subject to the conditions set forth in the Offer to Purchase and this Letter of Transmittal (which, together with any amendments or supplements thereto, collectively constitute the “Offer”). Receipt of the Offer is hereby acknowledged.
Upon the terms and subject to the conditions of the Offer (and, if the Offer is extended or amended, the terms of any such extension or amendment), and effective upon acceptance for payment of the Shares tendered herewith in accordance with the terms of the Offer, the undersigned hereby sells, assigns and transfers to or upon the order of Merger Sub all right, title and interest in and to all of the Shares that are being tendered hereby, distributions, rights, other Shares or other securities issued or issuable in respect thereof on or after November 2, 2018 (collectively, “Distributions”) and irrevocably constitutes and appoints Equiniti Trust Company (the “Depositary Agent”) the true and lawful agent andattorney-in-fact of the undersigned with respect to such Shares (and all Distributions), with full power of substitution (such power of attorney being deemed to be an irrevocable power coupled with an interest), to (i) deliver certificates for such Shares (and any and all Distributions) or transfer ownership of such Shares (and any and all Distributions) on the account books maintained by the Book-Entry Transfer Facility, together, in any such case, with all accompanying evidences of transfer and authenticity, to or upon the order of Merger Sub, (ii) present such Shares (and any and all Distributions) for transfer on the books of JetPay, and (iii) receive all benefits and otherwise exercise all rights of beneficial ownership of such Shares (and any and all Distributions), all in accordance with the terms of the Offer.
By executing this Letter of Transmittal, the undersigned hereby irrevocably appoints Andre Fernandez, and any other designee of Merger Sub, theattorneys-in-fact and proxies of the undersigned, each with full power of substitution, to vote at any annual or special meeting of JetPay’s stockholders or any adjournment or postponement thereof or otherwise in such manner as each suchattorney-in-fact and proxy or his or her substitute shall in his or her sole discretion deem proper with respect to, to execute any written consent concerning any matter as each suchattorney-in-fact and proxy or his or her substitute shall in his or her sole discretion deem proper with respect to, and to otherwise act as each suchattorney-in-fact and proxy or his or her substitute shall in his or her sole discretion deem proper with respect to, all of the Shares (and any and all Distributions) tendered hereby and accepted for payment by Merger Sub. This appointment will be effective if and when, and only to the extent that, Merger Sub accepts such Shares for payment pursuant to the Offer. This power of attorney and proxy are irrevocable and are granted in consideration of the acceptance for payment of such Shares in accordance with the terms of the Offer. Such acceptance for payment shall, without further action, revoke any prior powers of attorney and proxies granted by the undersigned at any time with respect to such Shares (and any and all