From: Heather Gray < Sent: Tuesday, October 21, 2014 7:04 PM To: Jeffrey E. Subject: RE: consignment to Sotheby's Thanks! From: jeffrey E. [mailto:[email protected] Sent: Tuesday, October 21, 2014 3:03 PM To: Heather Gray Subject: Re: consignment to Sotheby's ok with me good work On Tue, Oct 21, 2014 at 1:38 PM, Heather Gray < Dear Jeffrey, <mailto » wrote: As we discussed about a week ago, Leon will transfer the two Joseph Cornell works that he currently owns in his individual name to Narrows Holdings LLC, so that all six works being consigned to Sotheby's are owned by and will be consigned by Narrows. Accordingly, attached for your review are the following documents: • Contribution Agreement by which Leon contributes the two Cornelis to Narrows Holdings LLC • Resolution by Consent of the Sole Member of Narrows Holdings LLC by which Narrows accepts the contribution of the Cornelis • Sotheby's Consignment Agreement Summary of the consignment agreement. Please let me know if you have any questions or comments. I'll wait to hear from you before I send these documents over to Leon for signature. EFTA_R1_01776336 EFTA02593137

Best, Heather Heather Gray Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: Email: please note <mailto 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_01776337 EFTA02593138