Mr. Carter has an ownership interest in Roc Nation and is its co-founder. Roc Nation holds an approximate 50% ownership interest in ESM. As a result, Mr. Carter may be deemed to have an indirect material interest in the Roc Nation Sublease, Roc Nation Marketing Services, Roc Nation Concert Services, and ESM Production Services.
SubX
We engaged SubX Live, Inc., a software development company (“SubX”) to perform certain SaaS services relating to the development and customization of trivia platform experience for Cash App (the “SubX Services”). During the fiscal year ended December 31, 2021, we made $150,000 in payments in connection with the SubX Services.
Harpreet Marwaha, the spouse of our Chief Financial Officer Amrita Ahuja, is the chief executive officer and majority shareholder of SubX. As a result, Ms. Ahuja may be deemed to have an indirect material interest in the SubX Services.
Morgan Stanley
In June 2021, we engaged Morgan Stanley as our financial advisor in connection with our acquisition of Afterpay (the “MS Services”). During the fiscal year ending December 31, 2021, we paid $5 million upon the acquisition’s signing in connection with the MS Services. The MS Services closing payment in the amount of $25 million was made after the acquisition closed in January 2022.
During 2021, Morgan Stanley held greater than 5% of the outstanding shares of our Class A common stock. As a result, Morgan Stanley may be deemed to have an indirect material interest in the MS Services.
Other Transactions
We have entered into change of control and severance agreements with our current executive officers that, among other things, provide for certain severance and change of control benefits. See the section titled “Executive Compensation—Potential Payments on Termination or Change of Control.”
We have entered into indemnification agreements with our directors and executive officers. The indemnification agreements, our amended and restated certificate of incorporation and amended and restated bylaws require us to indemnify our directors and executive officers to the fullest extent permitted by Delaware law.
A family member of Brian Grassadonia, our Cash App Lead, is employed by us in a non-executive position. The approximate dollar value of the employee’s total cash and equity compensation for the year ended December 31, 2021 was less than $280,000. The family member also receives benefits consistent with other employees serving in the same capacity.
Other than as described above, since January 1, 2021, we have not entered into any transactions, nor are there any currently proposed transactions, between us and a related party where the amount involved exceeds, or would exceed, $120,000, and in which any related person had or will have a direct or indirect material interest.
Policies and Procedures for Related Party Transactions
Our audit and risk committee has the primary responsibility for reviewing and approving or disapproving “related party transactions,” which are transactions between us and related persons in which the aggregate amount involved exceeds or may be expected to exceed $120,000 and in