To: Jeffrey [email protected] From: Richard Joslin Sent Mon 8/11/2014 11:38:55 AM Subject: FW: Pillsbury fees From: Eileen Alexanderson Sent: Friday, August 08, 2014 7:57 PM To: David Lakhdhir; Richard Joslin Subject: Fwd: Pillsbury fees Sent from my iPhone Begin forwarded message: From: Eileen Alexanderson Date: August 8, 2014 at 7:54:12 PM EDT To: Keith Fox Subject: Re: Pillsbury fees Need to think about this. I think we are being fair but don't want to lose the deal either. I think it best to give this a rest. Let them sweat a bit too. Sent from my iPhone On Aug 8, 2014, at 6:32 PM, "Keith Fox" wrote: Catherine is getting pushback from her Board, meaning B shareholders on the price adjustment. The pre-pay was from the loan at 3:1 so now this group of shareholders is asking why they are paying for it twice. I think we are talking about $80,000. I don't know if it's a deal killer (which I am sure it's not), but should we reconsider some of it? Keith Fox CEO EFTA_R1_00489165 EFTA01980844

Phaidon 65 Bleecker Street, 8th FL New York, NY 10012 T M phaidon.com From: Eileen Alexanderson Sent: Friday, August 08, 2014 3:29 PM To: Richard Joslin Cc: Keith Fox; Lakhdhir, David K Subject: Re: Pillsbury fees gREAT! Scnt from my iPhone On Aug 8, 2014, at 3:28 PM, "Richard Joslin" wrote: Good news — Catherine now understands. Ron will give an itemization of his fees for the deal and it will be a purchase price adjustment From: Eileen Alexanderson Sent: Friday, August 08, 2014 3:20 PM To: Richard Joslin Cc: Keith Fox; Lakhdhir, David K Subject: Re: Pillsbury fees EFTA_R1_004091t38 EFTA01980845

Crazy! I defer to you Keith. Sent from my iPhone On Aug 8, 2014, at 3:15 PM, "Richard Joslin" wrote: Catherine is saying that Pillsbury legal fees relating to our transaction have been paid by ArtSpace and she does not agree on a purchase price adjustment. She does agree that each party pay their own legal fees but only thinks it relates for services after closing. Ballpark deal fees are $135K — could be higher. MMMMMMMMM MMMMMM Richard Joslin CFO Elysium Management LLC 445 Park Ave Ste. 1401 New York, NY 10022 (w) (c) (0 EFTA_RLOCk1891 67 EFTA01980846