Statement on Resolved Litigation

Jun 10, 2016

SAN FRANCISCO, CA — June 10, 2016 — Square announced that the company has reached a mutually agreeable settlement with Dr. Robert E. Morley, Jr. and his company REM Holdings 3, LLC, resolving litigation between Dr. Morley and the company, Jack Dorsey, and Jim McKelvey. Dr. Morley made valuable early contributions to the company in 2009 when Square was first getting off the ground, and Square is thankful to Dr. Morley for his involvement.

Jack Dorsey, CEO of Square, said, “We are pleased to put this dispute behind us.”

The terms of the settlement are confidential.