Epstein Secrets

st 57th Street, 14th Floor New York, NY 10019 via email Leon Black Trust-Owned Life Insurance Coverage 2012 Reportable Income & Annual Gift Dear Eileen: Annually, Leon must report or contribute the economic benefit of his Split-Dollar life insurance plans as income for income tax purposes. This sam

tive Officer 701 Market Stint. Sul* 1200 SL Louis. Missend ssum (5141 211.8068 (314) 231-4850 fax December 7, 2012 PERSONAL & CONFIDENTIAL Ms. Eileen Alexanderson Black Family Partners 9 West 57th Street, 14th Floor New York, NY 10019 via email Leon Black Trust-Owned Life Insurance Coverage 2012 Reportabl

illion. However, because of poor market performance, as of March 31, 2010, the cash surrender value of the policies together was about $15 million. DM US 30967272-1.088835.0011 2 EFTA_R1_02106313 EFTA02707631 Given the poor performance of the policies over the past decade and the fact that the $1

icipated estate taxes, it makes sense to evaluate whether it is appropriate for the insurance trusts to continue to maintain the existing policies. Eileen is analyzing whether to continue the existing policies. In the interim, we think it is important to restructure the split-dollar arrangements in ord

McDermott Will&Emery New Yolk Date: December 5, 2011 MEMORANDUM cc: Eileen Alexanderson Ada Clapp Tom Turrin To: Leon Black From: Carlyn McCaffrey Elyse G. Kirschner Re: Split Dollar Insurance Proposal This memorandum explains

Trustee has the right to terminate each split-dollar agreement at any time. AIF does not have any right to terminate either split-dollar agreement. DM US 30967272-1.088835.00H EFTA00585076 In exchange for AIF's agreement to pay the Planned Periodic Premiums, the Trustee agreed that when a policy ma

ew York residents, no tangible or real property located in New York and no New York source income. DM US 40356043-1.088835.001I EFTA00589676 Cc: Eileen Alexanderson Jeffrey Epstein Carlyn McCaffrey DM US 40356043-1.088835.001i EFTA00589677

es determine for any reason. I For all purposes of the trust agreement, the settlor's issue includes the settlor's children and their descendants. DM US 40356043-1.088835.001I EFTA00589672 2. After Death of the Senior The primary trust will end upon the death of the senior. When the trust termi

MEMORANDUM To: Jeffrey Epstein From: Ada Clapp Cc: Eileen Alexanderson; Rich Joslin Date: January 9, 2014 Re: Narrows II. I. Organizational Structure/Purpose of Narrows II. Narrows Holdings II LLC ("Narrows II") w

de of 1986, as amended, or corresponding provisions of future laws. "Company" means NARROW HOLDINGS II LLC, a Delaware limited liability company. DM US 37293334-1.088835.0011 EFTA00600709 "Disability" means as follows: an individual shall be deemed under a Disability or to have suffered a Disabil

MEMORANDUM To: Jeffrey Epstein From: Ada Clapp Cc: Eileen Alexanderson; Rich Joslin Date: January 9, 2014 Re: Narrows II. I. Organizational Structure/Purpose of Narrows II. Narrows Holdings II LLC ("Narrows II") w

de of 1986, as amended, or corresponding provisions of future laws. "Company" means NARROW HOLDINGS II LLC, a Delaware limited liability company. DM US 37293334-1.088835.0011 EFTA00600687 "Disability" means as follows: an individual shall be deemed under a Disability or to have suffered a Disabil

under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. EGK cc: Eileen Alexanderson Jeffrey Epstein Carlyn S. McCaffrey -5- DM US 39870447-2.088835.0011 EFTA00586974

's share of the assets will be paid in equal shams to his or her children then living. U.S. practice conducted through McDermott Will & Emery LLP. DM US 39870777-2.088835.0011 EFTA00586970 3. Remote Takers In the event the survivor of you is not survived by any of Debra's issue, any undisposed o