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ack of control discount regarding the transfer of the donors 34.53% Limited Partnership Interest in Black Family Partners, L.P. The appraisal cited Mergerstat Review 2013 and stated that the control premiums in Mergerstat corresponded to a discount for lack of control of 27%. The appraisal then cited Mergerstat'
5% Limited Partnership Interest in Black Family Partners, L.P. The appraisal cited iviergerstat Review 2013 and stated that the control premiums in Mergerstat corresponded to a discount for lack of control of 27%. The appraisal then cited Mergerstat's Third Quarter 2013 Control Premium Study and stated th
ather than a higher one. Empire did consider, as a starting point in selecting an applicable discount, the information presented by the following: Mergerstat Review 2013, Mergerstat's Quarter Control Premium Study, Closed End Investments Companies, and the FMV Restricted Stock Study. The range from these studie
. Empire did consider, as a starting point in selecting an applicable discount, the information presented by the following: Mergerstat Review 2013, Mergerstat's Quarter Control Premium Study, Closed End Investments Companies, and the FMV Restricted Stock Study. The range from these studies for a "lack of
ormation regarding lack of control and marketability discounts presented in Empire's valuation reports. Empire considered information presented by Mergerstat Review 2013, Mergerstat's 3'd Quarter Control Premium Study, Closed End Investments Companies, and the FMV Restricted Stock Study as guidance for selecting
of control and marketability discounts presented in Empire's valuation reports. Empire considered information presented by Mergerstat Review 2013, Mergerstat's 3'd Quarter Control Premium Study, Closed End Investments Companies, and the FMV Restricted Stock Study as guidance for selecting an applicable la
Entities connected to both Mergerstat Review and Mergerstat

Empire
ORGANIZATIONLeon Black
PERSONRifkind
PERSON
Rochester
LOCATIONAlan S. Halperin
PERSONWharton & Garrison LLP
ORGANIZATIONBlack Family Partners
ORGANIZATIONControl Premium Study
ORGANIZATIONWest Hartford
LOCATION
Alan Dershowitz
PERSONScott A. Nammacher
PERSONWeiss
PERSON