From: jeffrey E. <[email protected]> Sent: Friday, October 17, 2014 1:10 PM To: Ada Clapp Subject: Re: FW: Promissory Notes Required ok to both On Fri, Oct 17, 2014 at 9:03 AM, Ada Clapp < <mailto » wrote: Hi Jeffrey,<=u> </=pan> I received the below e=ail from Rich D. Please let me know: </=pan> (i) what interest rat= you would like to use for each note; (ii) whether interest =ill be paid annually or whether unpaid accrued interest will be added to p=incipal each year and paid at the end of the term; and (iii) what the term of =ach note should be. =u> Thanks. <=> </=pan> From: Richard D'Agostino Sent: Friday, October 10, 2014 5:50 PM To: Ada Clapp Cc: Eileen Alexanderson; Richard Joslin Subject: Promissory Notes Required Ada, Your assistance in drafting promissory notes is requi=ed. Below are the transactions for the notes needed:</=pan> EFTA_R1_01652511 EFTA02517301

I. On October 2, 2014, LOB 2011 LLC sold various pu=lic stocks [schedule below] to Leon Black, consideration for which will be=in the form of a note from Leon. For valuation purposes, closing prices on October 2 were used. To be consistent wi=h prior practice, and unless you disagree, I suggest using the IRS provide= Applicable Federal Rate ("AFR") for October for a short-t=rm period (3 years). II. A note was never created on April 28, 2014 with =espect to a $10,400,000 borrowing by Black Family Partners LP from Leon Bl=ck. At the time, it was decided by JEE that the 7520 rate for the month, 2.20%, would be used rather than the AFR=for a mid-term period. I suggest using the farthest range in the mid=term range which is 9 years unless you feel otherwise. Let me know if you require any other information. Thank you in advance for your help. please note The information co=tained in this communication is confidential, may be attorney-client pr=vileged, may constitute inside information, and is intended only for JEE Unauthorized use= disclosure or copying of this communication or any part thereof is str=ctly prohibited and may be unlawful. If you have received this commu=ication in error, please notify us immediately by return e-mail or by e=mail to [email protected] <[email protected]> , and destroy this communication and all copies thereo=, including all attachments. copyright -all rights reserved </=iv> 2 EFTA_R1_01652512 EFTA02517302