From: Ada Clapp < Sent: Wednesday, September 10, 2014 8:20 PM To: Jeffrey E. Subject: RE: Weil Gotshal Memorandum Attachments: 6.29.12 Power Point Art Partnership Proposal.pdf I have only this from 2012 which shows that Narrows was to contribute only fine art. This is really a follow up to the question: does Leon need to contribute assets other than art to the new Narrows? I believe he does not. In fact, if we follow through with the current plan, he will. The plan is for (i) Black Family Partners to create a new LLC to hold its non- Apollo related investments and to distribute out interests in this LLC to its partners (including Leon and the GRATs), (ii) for the GRATs to distribute out these interests to Leon as part of the annuity payments and (iii) for Leon to contribute these interests into the new Narrows. Ada Clapp Elysium Management LLC Email: <mailto This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. From: Jeffrey E. [mailto:[email protected]) Sent: Wednesday, September 10, 2014 3:58 PM To: Ada Clapp Subject: Re: Weil Gotshal Memorandum EFTA_R1_02120796 EFTA02710256

As I said not 2012 Way before my time On Wednesday, September 10, 2014, Ada Clapp c <mailto Hi Jeffrey, > wrote: Here is the Weil Gotshal memorandum I mentioned yesterday (it is from 2005!) and a later email from Elyse illustrating that they were focusing on the sales tax issue. Ada Clapp Elysium Management LLC Email: <javascript:;> This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. Original Message From: [email protected] <javascript:;> [mailto:[email protected] <javascript:;> J Sent: Wednesday, September 10, 2014 3:32 PM To: Ada Clapp Subject: Scanner please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 2 EFTA_R1_02120797 EFTA02710257