NOT MINE .appears he is one of those living in the dark letwe. I found 8 million dollars today, missed deductions. . not yet in the numbers, .? a--------- Forwarded message ---------- From: jeffrey E. <[email protected]> Date: Wed, Apr 15, 2015 at 8:59 AM Subject: To: Melanie Spinella 1 did the paul weiss bill get paid ??? 2. Talk to me before signing anything today important 10m paid today to gratitude america, a 501 c 3, willl make last year complete. 20 million paid today ftc . 10 million july 15 5 million sept 30. , 5 million jan 1 for all of 16. tax savings paid at 37 percent . of net. savings. 50 million credit. net. so 150 million free. 600 savings 225 million owed. - 50 credit, 175 owed. 600 savings 225 million owed. - 50 credit, 175 owed. Date: Tue, Jan 5, 2016 at 6:36 PM Subject: Fwd: leon DO NOT SEND, hand deliver. To: Jeffrey Epstein <[email protected]> Transaction complete ! When we had our meeting in your home in Bedford. You asked me for my help. I told you multiple times that i thought it was a very bad idea, in that I preferred to have no financial interactions. I dont have many friends and didnt want money to interefer with our unique relationship. For five years you had the kind but goofy Eileen Alexandersson managing your accounting , legal, investments. reporting, trusts etc. When I told you in no uncertain terms that I firmly believed she was incompetent you admonished me for " speaking out of both sides of my mouth". With regard Brad Wechsler , there is no " both sides. ". IT have consistantly maintained since day one that he was highly unsuited for the job. When you initially asked me to help convince him to take the role , promising him a postion to manage mirage investments I sent you a note saying instead you should pay up and get first class people. I have reiterated the same message for over a year now. . Brad , not me was tasked with hiring new people and as you wanted him to take ownership of the staff,he conducted many interviews. you may recall that as late as may, you told him in my presence that he had had six months and had not hired anyone. since then I have rectified errors in sales tax, use tax, income tax, fbar reporting, 1031 reporting, 8 million of deductions. ,( last nov ) 11 million found in dormant accounts and 4 million in the drawer. errors in cash flow both personal and Phaidon. Oversight on new grats first at 22 and then at 19 that were done without my consulatation were resolved only as aresult of my intervention. . 600 million in after tax savings was just accomplished. With Brad out of the office and unable to run his usual interference , the level of his total and utter incompetence was brought clearly , front and center. He may be a step up from Eileen, but, if he is , then itis certainly not by much, A major difference is that Eileen knew she was over her head. Brad struts his stupiditly whenever he gets a chance. A critical example. - Though you and I have spent many many hours discussing the importance of care and attention to details and mechanics. with regard Phaidon I was not shown one single document , not one.!! Brad wanted to keep it private between he, and his so called" advisors" however as he was out of the office during the most important transaction of the year, I did get to spend time with joslin Joe and john, - the situation in your office is totally ludicrous - to summarize - the list I provided to Brad last December - of things I thought were a priority to get done - _ still remains in the whole unresolved. The IT, is virtually untouched and is still in desperate need of a format - reporting flawed cumbersome and inaccurate . all done by hand as one -off exercises , when either you or brad ask for it - airplane: re structure, (my only suggested priority in june ) is really ,no further ahead, ,consultants up the kazoo but nothing at all done.( the office was told by Brad not to share the outside proposals with me - brad has no HOUSE_OVERSIGHT_023226

idea even as to what questions to ask. he knows little of finance, is bullshitted over by almost everyone in the office. a little man , using your power, to appear larger . Eileen was self aware enough to know she was over her head , that is a huge difference. bad info is rampant a simple emblematic example- 3 million in deductions Im told were taken for art space but on closer examination it turns out they cannot be used at all. ( ZERO benefit ) though you will be told yes they were deducted on the return they said that is the only real question you were focused on ! " were they deducted " not -" is there a benefit " !! I asked for the balance sheet and P and L for Regan arts , a basic first step in order to check your financials. "sorry we never got one?" though 9.8 million invested, no p&l, nothing!, a construction project run amok , no budget, the coo fired after only 3 months. , no clue . fyi artspace financials are also a total mess. ( no receivables ??). when i asked for a list of what got done and did not, i received the email from Brad basicailly mind you own business. so much was promised. !!! As in your words probably your closest friend and in order to turn the page. I hope the following to be constructive Here is alist of things I think would be in your interest to get done asap .but definitely not by me . isuggest you form new grats. , hire a high level tax partner. use your trading accounts as they remain a paramount requirement 16 months after i emailed you re their importance. THe Phaidon transaction papered and structured as contemplated DOES NOT WORK , its as simple as that. DOES NOT !! I suggest again that you re-do bank loans. no need to pay interest at higher rates on boat or plane. . as Richard is now no longer trustee. re- do will, make suydam executor , with Barry, and john as back up. pay | million a year for executor role. get rid of Judy Black trust, deal with gifts and their tax returns, . review amounts to kids at fixed ages. put more protections in for Alex and Victoria. , distribute some money to kids let them make decisions. , decide art division with children in attendance . have fire drill done on estate. fill out estate returns as if you and Debra died today, choose advisers - rick bronstein said the only 1040 he ever filled out was his own. Halperin has a conflict that should be addressed., A strategy of the use of art should be implemented. . you have tax consultants it consultants. plane operation consultant. . boat consultants. architects, lighting , art, legal, . foundation , deal with TRA , BRH, rationalize investments. cash flow. reporting, gaming disclosures. foreign, gift. . prepare tax projections for 15 and 16, . deal with neg basis ( tufts gain, debt financed. art partnership, pledges. sell stock , art, deal with phaidon debt. athene,? income , capital , foreign , exit, corporate, insurance regs, out and inbound issues, basis, appropriate discount rates. ? terminations. control. , qualified dividends. corporate tolls, inversion rules. , grat issues, short swing and other sec disclosures, I still think you might consider a Rothshcild bank transaction they have 150b and a distribution network with no products , private bank Rockefeller Rothschild. financial service. deal with UK visa issue sooner rather than later. we can talk about Rowen request re Athene , complex 2 billion in taxes on transaction. ?! the facts as i see them in June and then again Sept, we both agreed to a 50% of phaidon payout., then only after weeks, when you delayed any detailed discussion of money wanting to give the issue a thoughtful response ( which I fully understand ) . you unilaterally changed changed our agreement... 5m would be reserved for the future ? . and out of the remaining 15m ,? i would receive only a third. ( note : I'm confident that both the debt , and the artspace investment will also lead to a write off of another 30 m. plus ) In my dining room ,you were surprised when I said that i require most people to pay their advisory fee up front so that I am assured that I will be properly compensated for my work when strategies are implemented . you may recall that you appeared offended and said " are you suggesting that 1 would go back on my word" I said no , of course not ! you are my closest of friends ,but my experience is that when amounts get large, people tend to get unhappy when it actually comes time for them to pay I included in this letter the email i sent to you on April 15, the day 1 was examining your returns It laid HOUSE_OVERSIGHT_023227

out my understanding of the compensation for a transaction of the magnitude to the penny of the one just completed. though the number was great it was clear. When it appeared that the details could now be worked out I was the first to say , it is too much money, however. From day zero I proposed to discount to 50 - 60 million the fair price of the transaction just completed . including Phaidon. . though this amount was already substantially less than our agreed and negotiated formula.- Iwas never told that this was out of range. in fact, alternative methods of payment . plane, or an -in-kind payment were discussed (ie including keeping the 30m portion of fee outstanding till March ) ,I provided as you specifically requested a detailed step by step execution plan and reviewed all documents that i was given access to. ( Phaidon was not forthcoming ) in order to make my many corrections. I was then told that Alans involvement warranted a discount. Even in the best of light , though it is beyond question that not one time in the three years of his retainer has he ever proposed a unique idea. (including any wayt to deal with the use issue on debras death ,or even the most basic review of your largest asset by far , the BRH agreement. ) O.K. - lets say he made a contribution to the plan and stretch reality beyond the pale and say it was 50 %. though no one could posit such a large amount unless they were wearing a brightly colored clown suit. , the payment associated with the deal was known . It had both sent in writing and spoken about on the phone numerous times ,__a detailed execution plan was provided . then and only then after all was laid out for the group I was told that after a number of conversations with brad karp that a total of only 20m would be paid , (and even that was more than originally contemplated ) for both transactions . Leon I feel It was remarkably unfair. I wondered whether brad even knew of our prior agreement.? I called him and he said he was never told.?, I would ask that you I and Brad karp sit together if you think it would be helpful. . I would like to send him this email, with your consent of course. Ifthe transactions were never consummated , 1 would not be owed a dime, however , the expected fee was known up front. , the detailed step by step plan was followed and overseen by me, the amount that I had requested before the transaction was even begun, and had already been heavily discounted, out of friendship, from our agreement . I believe the decision re only paying 20 m has frankly , left me felling quite uneasy. since you asked since last nov. ifound 11 million dollars in dormant accounts. 4 million dollars in eileens drawer. . went through cash flows for phaidon showing that john murphy is not an accountant. redid your gagosian contract ,. organized structure in case of divorce. set up gift trust. stopped ada from including multiple times things not in your interest. dealt with bad sales tax use tax income tax . created 8 millino in deductions ,500k in mistakes , found bank of scotland fbar problems, . . reorg bad art purchases , funds taken, , charitable decisions , helped with fincancial statements, gaming commission. . boat deductions, rescued stock from grats.. may 1 after months of brad not finding anyone i sent an email saying you would have to pay more. . on april 15. I sent an email detailing payments owed if i could figure out the basis issue, please see attached, . questions you might ask your team ask them to provide a balance sheet or p&1 for REgan arts. doesn't exist ask . either wechsler or haperin to tell you what brh is, or how the tra works. .. ? as bronstein to tell you why the proposed phaidon transaction DOES not work. . ask them to give you a plan for the plane. ? ask them to show you the cash mgmt for over 100 million dollars. . ask them to show you the IT system progress after one year. separate from making it more secure though you are not a trader with inside info the approval process for payables. . the cash flow projections? assumptions? ask for a comparative review of investments. ask haperin to describe to you in any detail BRH , the major asset of his two biggest clients. tax basis, disposition in the estate. . etc. ask brad to show you the liquidation of the intervening art space cos? that has been on the table for months. Date: Wed, Jan 6, 2016 at 3:44 AM HOUSE_OVERSIGHT_023228

Subject: Fwd: To: Jeffrey Epstein <[email protected]> PLEASE READ CAREFULLY , Mark was here this morning , the proposed transactions are extremely complex . and would take a great deal of detailed time. I do not know how, and if ,to move forward - our last transaction. a transaction which you saved 600 million in tax. even if as you say it could be 20 years away , ( 1 hope longer) discounted to today is a savings of 300 million . for some reason you chose to ignore our agreements , verbal written and emailed -and decided that it was only worth 8 million dollars to you. . ( assuming phaidon -richard happens. the calculation that you can see isa 24m savings not including artspace and debt benefits- certain to come later .. IMPORTANT NOTE the phaidon transaction as currently contemplated will not work . NOT CLOSE When we had our meeting in your home in Bedford. You asked me for my help. I told you multiple times that i thought it was a very bad idea, in that I greatly preferred to have no financial interactions. I don't have many friends and didn't want money in any way to interfere with our unique relationship. Reminder, For five years you had the kind, but very goofy Eileen Alexandersson as the sole manager of your massive accounting , legal, investments. reporting, trusts etc. When I first told you in no uncertain terms that I firmly believed she was incompetent you admonished me for " speaking out of both sides of my mouth". With regard Brad Wechsler , there has never been a " both sides. ". I have consistantly maintained since day one that he was highly unsuited for the job. When you initially asked me to help convince him to take the role , promising him a position to manage mirage investments I sent you a note saying that instead of hiring him you should pay up and get first class people. I have reiterated the same message for over a year now. . Brad , not me ,was tasked with hiring new people , according to his biz school org chart.(nauseating ) and as you wanted him to take ownership of the staff,he conducted many interviews alone. . you may recall that as late as may, you told him in my presence that though six months had passed he had not hired anyone. since then I have rectified errors in sales tax, use tax, income tax, fbar reporting, 1031 reporting, 8 million of deductions missed errors of millions on the returns. a cashflow that is misleading helped prepare financial statements ( april ) Oversight on new grats- first at 22 and then at 19 that were done without my consultation and were "resolved" soley as a result of my last minute intervention. . 600 million in after tax savings was just accomplished. (BTW- for some reason you left the 30 million outstanding that I had said should only be done" if" that was my additional fee. and not used for non biz purposes and not art. Sorry but ., in June and then again Sept, we both agreed to a 50% of phaidon payout first projected at 20 . but less when artspace and debt taken out, - then only after weeks, when you delayed any detailed discussion of money wanting to give the issue a thoughtful response ( which I fully understand ) . you unilaterally changed our agreement.. 5m would be reserved for the future ? . and out of the remaining 15m ,? 1 would receive only a third. ( note : I'm confident that both the debt , and the art space investment will also lead to a write- off of another 30 m. plus ) In my dining room ,you were surprised when I said that 1 require most people to pay their advisory fee up front so that I am assured that I will be properly compensated for my work when strategies are implemented . you may recall that you appeared offended and said " are you suggesting that i would go back on my word" I said no , of course not ! you are my closest of friends ,but my experience is that when amounts get large, people tend to get unhappy when it actually comes time for them to pay. I include below the email i sent to you on April 15, the day i was examining your returns It laid out my understanding of the compensation agreed for a transaction of the magnitude to the penny of the one just completed.ie 600m When it appeared that the transcation would and could go foward I was the HOUSE_OVERSIGHT_023229

first to point out that our agreement would cost you too much money, therefore From day one I proposed to discount our agreement toa 50-60 million range. An extremely fair price for all the transactions just completed . including Phaidon. - I was never told that this was out of range. in fact, alternative methods of payment . ie my plane, or an -in-kind payment were discussed (ie including keeping the 30m portion of the fee outstanding till March ) ,I provided , only because you specifically requested a detailed step by step execution plan and reviewed all documents that i was given access to. ( Phaidon was never forthcoming ) in order to make my many corrections . ( as i said more needed on phaidon ). Iwas then told that Alans involvement warranted a discount . Even in the best of light , though it is beyond question that not one time in the three years of his retainer has he ever proposed a unique idea. (including any way to deal with the use issue on debras death ,or even the most basic review of your largest asset by far , the BRH agreement. ) O.K. - lets say he made a contribution to the plan and stretch reality beyond the pale and say it was 50 %. though no one could posit such a large amount unless they were wearing a clown suit. , the payment and our formula of 37 percent associated with the deal was known . It had both sent in writing and spoken about on the phone numerous times , a detailed execution plan was provided . then and only then, after the entire transaction was laid out for the group to follow You told me that after a number of conversations with brad karp that a total of only 20m would be paid , (and even that was more than you originally contemplated ) for both transactions . Leon I feel It was remarkably unfair. Did brad even knew of our prior agreements.? ?, I would ask that you I and Brad karp sit together if you think it would be helpful. . I would like to send him this email, with your consent of course. Ifthe transactions were never consummated , 1 would not be owed a dime, however , the expected fee was known up front. , the detailed step by step plan was followed and overseen by me, the amount that I had requested before the transaction had even begun, had already been heavily discounted, out of friendship, . I believe the decision re only paying 20m has frankly , left me felling quite uneasy. and colors the view about the Athene or Rothschild transaction. Date: Wed, Jan 6, 2016 at 12:44 PM Subject: Fwd: To: Jeffrey Epstein <[email protected]> PLEASE READ CAREFULLY , In the spirit in which it is sent. our friendship is intact and solid , though ,it has taken a hit. Mark was here this morning , the proposed transactions are extremely complex . and would take a great deal of my detailed time. I do not know how, and even, if ,to move forward - . After months of hearing that you would have no problem paying a large fee if you could only ascertain value. The last transaction. a transaction which you saved over 600 million in tax. declared bullet proof by your attnys, and even if you want to disoccount for its future realization, creating a savings of over 300 million real dollars. For some reason you chose to ignore our agreements , verbal written and emailed -and at the very last minute , after the deal was complete decided that it was only worth 8 million dollars to you and your family. . ( assuming phaidon -richard happens. there is a 24m savings not including artspace and debt write down benefits- certain to come later .. IMPORTANT NOTE the phaidon transaction as currently contemplated will not work . WILL NOT !! When we had our meeting in your home in Bedford. You asked me for my help. I told you multiple times that i thought it was a very bad idea, in that I greatly preferred to have no financial interactions. I don't have many friends and didn't want money in any way to interfere with our unique relationship. Reminder, For five years you had the kind, but very goofy Eileen Alexandersson as the sole manager of your massive accounting , legal, investments. reporting, trusts etc. When I first told you in no uncertain terms that I firmly believed she was incompetent you admonished me for " speaking out of both sides of my mouth". With regard Brad Wechsler , there has never been a " both sides. ". I have consistantly maintained since day one that he was highly unsuited for the job. When you initially asked me to help HOUSE_OVERSIGHT_023230

convince him to take the role , promising him a position to manage mirage investments I sent you a note saying that instead of hiring him you should pay up and get first class people. I have reiterated the same message for over a year now. . Brad , not me ,was tasked with hiring new people , according to his biz school org chart.(nauseating ) and as you wanted him to take ownership of the staff,he conducted many interviews alone. . you may recall that as late as may, you told him in my presence that though six months had passed he had not hired anyone. since then I have rectified errors in sales tax, use tax, income tax, fbar reporting, 1031 reporting, 8 million of deductions missed errors of millions on the returns. a cashflow that is misleading helped prepare financial statements ( april ) Oversight on new grats- first at 22 and then at 19 that were done without my consultation and were "resolved" soley as a result of my last minute intervention. . 600 million in after tax savings was just accomplished. (BTW- for some reason you left the 30 million outstanding that I had said should only be done" if" that was my additional fee. and not used for non biz purposes and not art. Sorry but ., in June and then again Sept, we both agreed to a 50% of phaidon payout first projected at 20 . but less when artspace and debt taken out, - then only after weeks, when you delayed any detailed discussion of money wanting to give the issue a thoughtful response ( which I fully understand ) . you unilaterally changed our agreement.. 5m would be reserved for the future ? . and out of the remaining 15m ,? 1 would receive only a third. ( note : I'm confident that both the debt , and the art space investment will also lead to a write- off of another 30 m. plus ) In my dining room ,you were surprised when I said that 1 require most people to pay their advisory fee up front so that I am assured that I will be properly compensated for my work when strategies are implemented . you may recall that you appeared offended and said " are you suggesting that 1 would go back on my word" I said no , of course not ! you are my closest of friends ,but my experience is that when amounts get large, people tend to get unhappy when it actually comes time for them to pay. I include below the email i sent to you on April 15, the day i was examining your returns It laid out my understanding of the compensation agreed for a transaction of the magnitude to the penny of the one just completed.ie 600m When it appeared that the transcation would and could go foward I was the first to point out that our agreement would cost you too much money, therefore more details From day one I proposed to discount our agreement toa 50-60 million range. An extremely fair price for all the transactions just completed . including Phaidon. - I was never told that this was out of range. in fact, alternative methods of payment . ie my plane, or an -in-kind payment were discussed (ie including keeping the 30m portion of the fee outstanding till March ) ,I provided , only because you specifically requested a detailed step by step execution plan and reviewed all documents that i was given access to. ( Phaidon was never forthcoming ) in order to make my many corrections . ( as i said more needed on phaidon ). Iwas then told that Alans involvement warranted a discount. Even in the best of light , though it is beyond question that not one time in the three years of his retainer has he ever proposed a unique idea. (including any way to deal with the use issue on debras death ,or even the most basic review of your largest asset by far , the BRH agreement. ) O.K. - lets say he made a contribution to the plan and stretch reality beyond the pale and say it was 50 %. though no one could posit such a large amount unless they were wearing a clown suit. , the payment and our formula of 37 percent associated with the deal was known . It had both sent in writing and spoken about on the phone numerous times , a detailed execution plan was provided . then and only then, after the entire transaction was laid out for the group to follow You told me that after a number of conversations with brad karp that a total of only 20m would be paid , (and even that was more than you originally contemplated ) for both transactions . Leon I feel It was remarkably unfair. Did brad even knew of our prior agreements.? ?, I would ask that HOUSE_OVERSIGHT_023231

you I and Brad karp sit together if you think it would be helpful. . I would like to send him this email, with your consent of course. Ifthe transactions were never consummated , 1 would not be owed a dime, however , the expected fee was known up front. , the detailed step by step plan was followed and overseen by me, the amount that I had requested before the transaction had even begun, had already been heavily discounted, out of friendship, . I believe the decision re only paying 20 m has frankly , left me felling quite uneasy. and colors the view about the Athene or Rothschild transaction. Date: Fri, Jan 29, 2016 at 2:39 PM Subject: To: Melanie Spinella (iii iii you've agreed that Your office is a multi billion dollar responsibility. your children will inherit it , in order to oversee their financial lives- I feel for you, truly ,but the facts are the facts, your ceo ( Brad) has provided one bad document after another for over a year , no getting away from it,, badcash flows nonewIT, each time with " its gettting better" no in fact -! itsnot. - the excuse, that Brad is not the numbers guy, is ludicrous. of course he didnt actually prepare the statements. - no ceo would ,- but over and over he presented them to you and me, after , holding them back for his personal review multiple times and after multiple drafts. weeks of his editing, the consistant but "inexplicable "missing the obvious serious errors .( gaming ) inaccuracies, ( cashflow ) and mistakes (tax returns). why, ?! the simple answer is that at best, he is ac minus, (note. I, like you ,also give points for effort. )-! an elegant art partnership gone fallow. ??!!I and its core reason to exist. not used ? no docs for plane?, still ! why? no docs for decantings why? the docs for deal | received last night , "no docs at all for deal 2, the biggest ". why wasn't Tom brought in, after 4 times of my incessant reminders i spoke to him, he knows little of either transaction except for over view. never saw pahidon anything except projections until yesterday ? ?and this after your clear admonition etc. re the trading accounts no activity, at all, Barry Cohen is great. more like him please . you asked ,- I did my best trying to train your brad chosen people in the face of my telling you that they were never going to be more than c-minuses, thousands of emails thousands? Brad at its head . you can't as aceo, have an accountant give you multiple pages with the most important numbers missing altogether and not notice, you and I saw the errrors right away ,as did my very junior bookeeper after only a cursory glance. He told me he didnt know the details of his note? ! , my guess is that he wanted to pay less. no more than that, any other story is blather. its silly. Talk to richard yourself. re your estate. Yes another Brad issue - your will, needs revision. the tenants in common structure I assume Alan has carefully walked you through. it is way overdue, needed and exciting. I won't list the more serious issues in an email but we can speak over the weekend. How can I help? We agreed at the time when you hired Castrucci , that when you fired him, I would bear no responsibility because it was clear that he shouldnt be hired. brad and you both said ," its on us", but... the equivalent of your art consultant pointing to a picasso and calling ita renoir. then a brancusi and calling it a michaelangelo. those were the types of erros that 1 saw immediatily, you said give them more time. at least they saw it was a painting and not a photo? being weaned of our biz /pay realtionship has been our mutual goal. However since novemebr, you chose to do so by ignoring’ our agreement re, phaidon,and your oft stated commitment to me of large payments for large value, (37 percent was our number ). chose to pay me anumber picked by what appears to be only by whim,- have yet to justify it except for telling me that you and Brad Karp talked.. HOUSE_OVERSIGHT_023232

What should we do? the next two years in biz world appears to both you and I, very fragile. Im happy to have brad sit in ? Date: Thu, Oct 15, 2015 at 10:38 PM Subject: To: Melanie Spin: a Office, - adagoes. , hire heather a paralegal. Joslin goes or is closely managed by new cfo with tax experience. . castrucii goes asap.as he merely adds to mess.( too many people , ex 7 people or more to pay a bill) eva goes. outsource as much as possible... bookkeeping systems built from scratch, airplane restructure, boat . same, new grats. phaidon sale , decide on artspace survivability, regan, . do the kids really want these? , children accounting ie bens house.etc. re do estate for new facts. redo loans, trading accounts activity, . gaming -foreign- disclosures. . BRH TRA re thinks . household and construction architects. . redone. art partnership , choice of paintings. . re do structure of consultants. tax re family office... decide if investments are a realistic option in the next three years.. insurance. operations. airplane , etc. . art foundation , private. max charity contributions. financial reports. still waiting. ? on line banking, . tax planning, family office deductions ( profit center ) . airplane certificate, redone jetaviationredo. . paper gigi ( E )trust to avoid gift tax. . today is Oct 15 With your full knowledge I paid out 8 mil to my staff before june, . soi guess I can safely assume that after consideration of all the things I did for the entire past year separate and apart from your unique free "after care" concept. , what you thought was ultimately fair was the contribution of 5 million to a foundation and a total of 2 million dollars to me. Date: Thu, Feb 4, 2016 at 10:01 PM Subject: To: Melanie Spinella es josh's arrival cut short our needed conversation. I understand we have a difference of opinion. friends sometimes disagree, I shook on the 20 so you have no further obligation, none, I am willing to have brad karp hear both sides. as my view , you andi had an agreement. on phaidon /publishing, and then a long standing what you say is 28 , which is correct AFTer TAx. ,37 pre. . that was our numbers. I was clear what i thought the transactions were worth. far less than full. alanetc. , had you said i will pay you only 20. i would have said ill pass. you never told me that 50-60 the number that i put on the table at the very beginning was not right. you asked that i lay out my plan step by step. and what i believe would have been the fair thing to do is say to me, I will pay you only 20 if you do asiask, not tell me for the first time only after i laid it all out. had it not been you, 1 would have required payment in escrow. BEFORE _ fyithe reason I sent you an invoice so that if you decided that you wanted me to continue this year . it would be applied to last years income. I think today was a beginiing for you. I am glad I will meet wendy the 23, rd, . separate and aprt from being your sounding board for personal issues, I do not see my involvment moving forward. Date: Wed, Feb 10, 2016 at 12:56 AM Subject: Fwd: To: Melanie Spinella < La this was sent four months ago, nothing has changed sent oct 15. before big transaction. Office, - adagoes. , hire heather a paralegal. Joslin goes or is closely managed by new cfo with tax experience. . castrucii goes asap.as he merely adds to mess.( too many people , ex 7 people or more to HOUSE_OVERSIGHT_023233

pay a bill) eva goes. outsource as much as possible... bookkeeping systems built from scratch, airplane restructure, boat . same, new grats. phaidon sale , decide on artspace survivability, regan, . do the kids really want these? , children accounting ie bens house.etc. re do estate for new facts. redo loans, trading accounts activity, . gaming -foreign- disclosures. . BRH TRA re thinks . household and construction architects. . redone. art partnership , choice of paintings. . re do structure of consultants. tax re family office. . decide if investments are a realistic option in the next three years.. insurance. operations. airplane , etc. . art foundation , private. max charity contributions. financial reports. still waiting. ? on line banking, . tax planning, family office deductions ( profit center ) . airplane certificate, redone jetaviationredo. . paper gigi ( E )trust to avoid gift tax. . Date: Thu, Mar 3, 2016 at 3:31 AM Subject: ask alan why he hasnt explained this to you since novmebr To: Melanie Spinella Tenancy in common is a type of shared ownership of property, where each owner owns a share of the property. Unlike in a joint tenancy, these shares can be of unequal size, and can be freely transfered to other owners both during life and via a will. Even if owners own unequal shares, however, all owners have the right to occupy and use all of the property. Date: Sun, Mar 13, 2016 at 12:55 PM Subject: To: Melanie Spinella Po The fire drill documents received should be the final nail in the coffin of Alan and Ada, ._ It is inexcusable, , ludricrous and in brads words "insane "or yours, " unexplainable" that the two people that you refer to as your estate attnys , NEVER EVER took the time to actually read the documents that have the biggest efffect on your family and estate upon death or disablity, its impossible.!!! IMPOSSIBLE . after telling me that they were confident that everything had been read , and after years , of you telling me that Im not an attorney, it is clear that my telling you that you have c quality people was over generous, , I received a first draft of the summary of documents. you should read them for yourself. . executive committee issues. , unclear tax. contradictory provisions,your reps having to rely possibly on a fall back to delaware law to protect your interests, even suggesting that even if they would like to fall back , in some instances - no case law. other crazy- provisions that are personal to you , instead of you and your successor ? two pages of" open to interpretation" .or aha , maybe something is wrong! asie, your rep, after death has no right for information on BRH? ! if you and another founder are dead , the exec commitee has no decision authority, if josh and mark want to fuck your heirs, its easy, black family partner docs dont deal with succession! YOU deserve better. _ fyi, after a month of brad ada and alan ,on the project, still not willing to share with me a final, they are all embarassed. and full of excuses . It will take wendy and a new team 6 to 9 months to put your house in order. , new cash flows. new accounting system, airplane rethought, , you new hires can find deals , they can familiarize themselves with your current investments , but should not be doing the accounting for them, . your will is still not amended, ?! the tenants in common not even explained to you. if something happens to you and debra, no real direction for the foundation. . etc Date: Mon, Mar 21, 2016 at 4:17 AM Subject: To: Melanie Spinella {> HOUSE_OVERSIGHT_023234

glad to see you are personally on the mend - as well as the fence. -- As you know i dread money discussions with you-- however -we should address the issue of what you would like to do moving forward. re- do family office, accounting trusts , estate and apollo agreements . Along with your " payment "last year we agreed . no further obligations on each side. yes, i continued to moan. I realize that though Ive done quite a lot this year already _, it is not your responsibility. . As you often like to remind me- you've paid a great deal of money to date. that being said - If you want my involvement moving foward, Isuggest you pay my regular | fee of 40 m. 20 now . 20 on completion or as per the invoice issues at the end of last year pay 30 all at once. - To help out .im keenly aware of your current cash position. so I will consider an in-kind payment - real estate ( Miami ), ,art , financing of my new plane (allows you to spread over years or of course the preferred cash. Get rid of Castrucci,it is over a year since the same story of findign the right guy at the top. youentire accounting needs to be re done. , office downsized, reporting re done. meetings to recitify, categlorize , the various docs re appollo , rowen , suydam, alan etc. Brad can direct investment guys, ( hopefully) my people will be in your office for a few months . reorganizing IF you decide not to pay I fully understand, as Im sure you will re my no longer spending any serious time on these things. Of course re any non financial issues , I am always there for you and will continue to be the best friend I can be. Steve jobs said that everyday he woke up , and asked himself , if he knew he was going to die tomorow , would he do the same thing that he had planned for the day- he wanted to check that he was doing things that he really wanted to. after three days of getting back an answer of no, he would change what he was going to do. . he also did not believe in LONG term plans. I dont think either one of us will figure out what we want to do long term so my thinking is that we should try to have fun everyday, and welcome serendipity. I think another trust and estate lawyer should be brought in to deal with the issues of how not to allow your family to get screwed by your partners on death. Alan, for years told me that paul weiss had drawn the docs so no issue but when recently pushed by my new fire drill he asked akin to draft .?! PLease ask brad about why he keeps talking about flow. I dont know what he means, its so silly .. this is only about money control and protection . I am leaving monday night now. free to speak in the afternoon Date: Thu, Apr 28, 2016 at 1:55 PM Subject: To: Melanie Spinella - «Ss Lets start. I am aware that you are currently angry at the world. . me, karp wechsler. even yourself, all willing absorbers of the current high heat. (though you ,calling me ,Debra , did take away some of the sting ) Iam sorry to see you this way. emblematic ; I was asked to opine on whether to hire castrucci. an hour after I gave a preliminary yes. . I called you then texted you that i had thought more about it and changed my mind. The next day brad called and asked for my vote. I told him ,in no uncertain terms itisano , I categorically voteno. I called you . youcame to see me. I said it was a bad idea. you said you were going to do it anyway , I said and followed up in writing IT IS A MISTAKE . and added Please don't come back to me with anything suggesting otherwise , you and I should be clear I think it is wrong . A very strong NO. you of course can hire whomever you like. HOUSE_OVERSIGHT_023235

early on I told you I thought Tom remarkably careless . Eilleen goofy and your art lawyer not well informed to say the least. you told me Tom was a senior partner. Eileen had headed the trading desk , and Ralph Lerner had to know what he was doing as he wrote the book. . I said I thought you deserved better ,should get better people and no , Iam not an HR person. yesterday you told me that the reason you have hired whomver you could find was to avoid being dependent on me. a decision by far , not the best place to try to save money ) Joslin- who you say I hired . I neither found nor hired. With a two person given choice I approved joslin over some woman that eileen preferred. against my repeated advice you and eileen decided the pay range at under 300k . I told you at that time that I would personally pay the difference for a higher quality person, that was years ago . I have sent over a hundred emails to you clearly saying he needs to be closely managed by better professionals. initially , that referred to Eillen and Ada.and after, brad. john etc. THere are many emails each and every month from me, telling you , he is slipping failing cracking fragile. . crazy, nuts, heading towards incompetence. Unless YOU- TAKE ACTION! when I pressured him for accurate numbers , you told him, to tell me, that he works for you and NOT for me. . When I continued to press for accuracy from your office , you told me that they were now all afraid of me and 1 should let brad communicate any requests, ( you now tell me " we know what Brad is"?). When I told you you office needs to be reviewed and changed you told me 1 was being destructive rather than constructive. when i ultimately confronted joslin, in an attempt to protect you, told him that his numbers were wildly inaccurate , you told me that i had caused his ultimate resignation and now have an affirmative obligation to fill in the resultant gap. I did give you a bad number , and apologized as soon as i realized it. an error that was an embarrassment forme, the fact that that the accurate number is still way below what you agreed to pay , has fallen by the wayside.( the preposterous argument that the end of year transaction was Alans idea , which you now know was not true and that me not receiving Phaidon documents was unexplainable. was your justification though, for non - full payment ) Hopefully You will recall that when you initially asked for my help. I declined repeatedly with the admonition that that having a financial arrangement is fraught with danger and could complitcate our friendship (as you will be unhappy paying what you will view as a large sum. while choosing to ignore the financial benefits, ). In Bedford , I repeated my concern. THe current circumstance is distressing to me, Ihave done my utmost to keep you safe. and will continue to do so. reckless choices in accounting or otherwise does not bode well. at each turn I have put your interests first , including in some instances attempting to fight your choices. your current circumstance needs nuanced attention. as you know, there are a few areas with very serious consequences. whether it be , having Ada , form grats without review, brad doing phaidon without review. payments make without review.merely in order to be weaned , is one more high risk choice. review of outside accounting firms , CANNOT be done by brad. to have your accounting dept sit in on Alans trust accounting lecture . in order to learn the filed is reminiscent of elieen reading the tax regs. ( she also was going to take a course) I am here in New York today. should you like to resume Date: Mon, May 2, 2016 at 12:51 AM Subject: Fwd: Valuation Discount To: Melanie Spinella HOUSE_OVERSIGHT_023236

Leon please read the attached proposed response to the IRS__, see if you can understand it !!!._ Ive asked for are-do. and given prelimiary directions to Alan to have it edited over the weekend If you are quarterbacking ,ok with me. just please let everyone know. you must deal with the outrageous incompetence in your family office .. Alans words " but I was told that.. , but I was told by the office (sic) that ..., BUT 1 was told by joslin,. , but I was told by . " why is leon blaming me for .." I ve have always given you my best advice, If you reflect on your financial life , you have been kept safe , had remarkable results and no disasters. I have repeatedly urged you to get rid of the people in your office. , you have repeatedly chosen to ignore my advice , you told me last week that the emotional reason was in order to be weaned off my group and not have to pay my high fees. ( though ignoring the benefit of between 1.5 and 2b to the better. ). and no explosions. You have email after email ,where i remind you that I am not your bookkeeper or accountant (in brads corporate speak his" finance dept ??!!) that it should be redone .I have reviewed a multitude of the silly reports given to you and have pointed out the continued numerous inaccuracies. your question " so what if the numbers are off , so what if the categories are off. whats the big deal??. I suggest you de risk you finances and make the tough decisions necessary - pay the right amounts ( high) to get the work done properly or , you are , Im afraid, certain to get an unhappy answer.. tom will be back from vacation. this week. no-n------ Forwarded message ---------- From: Halperin, Alan S ii! Date: Thu, Apr 28, 2016 at 5:16 PM Subject: Valuation Discount To: "jeffrey E." <[email protected]> I am attaching a draft response from Empire Valuation as to why it arrived at a valuation discount on the low end. Let’s discuss the response and next steps. Thanks. Alan Date: Tue, May 10, 2016 at 12:38 AM Subject: To: Thomas Turrin Sl did you get the agent’ Date: Wed, May 11, 2016 at 1:50 PM Subject: To: Brad Wechsler Lon ACTIN TT Melanie Spinella grats 3,4,5,6, also need accounting documents and backup. year 2014. other info request to follow Date: Wed, May 11, 2016 at 2:19 PM Subject: Re: To: "[email protected]" <[email protected]> [a A couple of questions: 1. Jeffrey-you saw the format in which we organized the back-up for year one of grat 1 (quite thick/alot of back-up). Does that format work (for you and internal use) or do you want it simplified/modified. Let's discuss. 2. Since this will take the focus and effort of a lot of people (just to pull and organize the various records...both legal and accting, I'd like to tell the staff that we are answering an "information request" from the irs on the grats. It will generally be helpful HOUSE_OVERSIGHT_023237

for them to know why the work is impt. You and leon ok with this? Will call you to discuss. Date: Thu, May 12, 2016 at 12:17 PM Subject: tight schedule lets try a set time to speak To: Melanie Spina ii iit Leon, you hired me to produce a work of art. it was not inexpensive. the value far exceeds any other piece in your collection.- by FAR. It took me 30 years to be able to craft such a work. I understand your desire to modifiy my work, in doing so you have brad telling me , just a bit more red., here let me show you, you yourself pick up a brush a add some strokes. you have joslin spray water on it to maintain it. I vigorously complain that joslin in ruining my work .. you describe me as zeus, i describe it as artist and a reaction to his work being ruined. however Im aware that you own the work and you have the right to paint over it. tear it up , put it in the closet in the basement . its yours. I was told that Toms office is sending someone in ,or some people in, to review "some things." brad told me ,the partnership accounting. I know absolutely nothing more than that. though bringing in his team was my idea . Having them review things without even asking for my input , or let alone my direction ,is ridiculous. but.. I guess you wanted to save money. ? The audit has brought to the fore the lack of your office quality that i have been violently squawking about. ie. children playing with works of art. . It is inconceivable to me that John castrucct is still there , Joslin part time, but relied on . joe error prone and brad a corporate bandleader talking about the office's finance team, accounting dept, and directing wendy to do things that are clearly not in your interest. ( saving money again?) its nuts!! . a still non-existent IT dept. impossible , it was the first thing on my list of things that were needed to be done. Still no trading accounts to speak of , though its prophylactic quality has been discussed over and over during the past three years . computers do not read Page Six. the women atthe IRS do.! you said your motivation in keeping this group of part timers was a consequence of the high cost of my artwork. . the unfortunate result was easily predictable. - now If you want my and my atelier to continue, I will oversee the audits. take charge of the TRA BRH assignments and review 2012 amendment options!!( note :your redo of the estate fire drill has not progressed very far ). Lots of paper needs to be collected and reviewed, At MY direction. the outside team will be brought in at my expense working for me and you. coming in for interviews and reviews, . sucession, technology, tax and compliance. investment reporting , , computerized timelines for filings etc. . household classifcations and reporting with a system of best practices. My goal is clear - to end, not extend , our financial interactions. you will have a machine that works , it will not be complexto oversee , to create it, is some thing else . Unfortunatley for us both, the price for my works has not changed since day one. 40m per year, I m willing to discount it to 35 as I did give you a bad number when asked and should pay an embarassment fine. Im also aware, as you made perfectly clear . that you have already paid what you consider a great deal of money, for my work , but again its value exceeds anything else by far in your collection at a cost less than agreed upon. . please also remember that you and i agreed no more demands on my time after the last payment for the big transaction. OR, you can decide that brad , tom , and whomever else you choose can screw with my work and they can oversee your audits . they are both aware and sensitive to the issue at hand. alan could be brought in but 1 would be extra careful having paul weiss given access to entire story. _-On an unrelated note- you recently seemed shy to discuss certain things. , please be assured I make no judgement on any of your activities , whether or not i agree with them . not my role I am always on your side on the table. I hope your personal life quiets. you 've had a rough 15 months. HOUSE_OVERSIGHT_023238

11:21 PM (13 hours ago) to me Jeffrey, I created applications one week ago at NDCAS ( doctor of naturopathic medicine centralized application service ) and VMCAS ( veterinary medical college application service ) ,working on my application material , requesting evaluations letters and etc. On Tuesday I am going to the job interview, working on my resume today . P.s.- [hope I will get finally the results from Chinese proficiency exam today /tomorrow. On Sat, 7 Apr 2018 at 07:54, jeffrey E. <[email protected]> wrote: no concrete progress. for a year. sorry, it cannot go on this way Date: Wed, Jun 1, 2016 at 5:41 PM Subject: To: Melanie Spinella iii As i said yesterday, pointing out places where 1 think my friend might be taking unnecesarry risks has become tedious and trying. Structures that have been set up 2 years ago. were done so to give you protection and flexibility, NOT FOR ME< for YOU _ they required hiring stafff that could manage these complex entities. you told me over the past two years that as 1 set them up i should be responsible for their operation. That was never the deal , never. I have heard after -care etc for quite a while. in dec when you unilatierally decided to pay me much less than our agreed amount , we agreed NO MORE money discussions NO MORE after care. The silliness has reached its pinnacle when you suggest 1 am responsible for the lack of sophisticaiton and thoughtfulness of the 1031 transactions that NO one even told me about. asked my advice or gave me any notice at all before the fact. same as the structure for the CAlif house. I would remind you , though Heather is great, it was not she that modified the gagosian contract to give you the protection that resulted in your having no liablity, though you tell me she has done these things many times. 3. Remind me to talk to you about MR Date: Tue, Nov 15, 2016 at 6:13 AM Subject: Fwd: To: Melanie Spinella > Leon, Congragulations on biting the bullet. at least 18 months late , but I m encouraged and glad for you. When you interviewed Brad two years ago you asked that i not tell him what a disaster lay before him. what would you like me to tell Barry? There is a HUGE amount of work to be done in the next 9 -12 months. mostly the exact same work that i outlined in my email of 2 years ago. now complicated by years of mess on top. ( you can send it again if you like ). Brad wechsler was never up to the task . sorry, I realize I have been saying the very same thing for a long time. he was a not a step up from Eileen but a step sideways. in the beginning there was Eileen and Tom and Ralph Lerner. all your hand picks. then brad. john, Joe. . joslin was chosen from a pool of 2 people. each that would be limited by a salary of 250k. ( yes 1 personally augmented his comp in order to get him )_ I did say hire both Lisa to do the bookkeeping and joslin tax, He complained for over a year , re his direction by eileen and ada , and then brad. His breakdown was not a surprise after months and moths of warnings. Though disabled, he ran your office this year. with john and joe. He ran amok, and asi told you he rarely failed to remind me in our conversations that you told him that he works for you and not for me and that brad needs to pays him . HOUSE_OVERSIGHT_023239

. Asking me who to hire , estate attny tax people etc. : I have taken heat for years over the fact that i gave you no more than carlyns name, . no follow up questions no interactions , not even one single question asked of me re her work. (that was Eileen _) but somehow carlyns fuck up was my doing. . _ when i told you that i thought Eileen wasn't up to the task, you bellowed that i was talking out of both sides of my mouth. . You told me this year , that by trying to protect you from crazy joslin, I had in essence fired him and it was my responsibility to do his work. it then turns out that he didn't consider himself fired at all he just received less money. and continued to make a really dangerous mess.. Joshn castrucci, in your eyes , was also my doing , though email after email said , I take no responsibility for him,and 1YOU SHOULD NOT HIRE HIM |!!! , your response was that was my opinion was only because i didn't trust him. then to add insult to injury last jan you told me he was gone. however he too is still there, and a waste of money and space. My time is complicated by Donald's potentially eviscerating any reason for anyone to use the foreign funds repatriation plan that i had put together. . however as you are aware I have some decisions to make re my time allocation in the next year or two. so at least for a few weeks I am unable to commit much time and make any future plans to guide you in the redoing of your procrastination produced mess. That being said, the tasks at hand are the following. You have a bomb of colored string that your retarded children have formed , It has to be very carefully unwound , even the substitution of Barry for your next trustee, needs a careful focus on procedure.s It would be much preferable if Wechsler was not his replacement. do you have any person you trust ??! . I am concerned re brad taking barrys place re XXXX. In the beginning Barry will need to find and learn ACCURATE . org charts. books , balance sheets . trust valuations. are all a part. Barry will need 2 months to just get his arm around what is there , this is before any needed modifications., a way overdue re- fresh of your estate plan. . clats , trust. partnerships. grats. Ilcs. bank accounts , filing requirements. etc. the long awaited review of the brh tra and shareholders agreement to see how they fit into new plan. . "XXXXX" planning. art partnership engagement .. , airplane re-do. , buying another. .? boat sale , Miami sale. . TRADING ACCOUNTS. . three years overdue. . an accounting system. fire john... joslin stays for a year. or so. so does tom and . except for heather everyone should be replaced withnew. . Sell Artspace and shut down regan arts. . rationalize. cash flow reporting. cash mgmt. stock sales. sec irs. gaming. foreign reporting. the 8865 mess will take months to review now. . you CANNOT file unreviewed audited documents. .CANNOT!!! _ this will be very detailed work. . a self inflicted wound - all avoidable if professionals had been in place to limit . or contain it. . . you will need 3 new hires .as there is no one in your office that is truly an A player. I have great hope in Barry as you know. He will need to be trained. note ; One year is my guesstimate After 4 years of telling you , that you could do better than Halperin, : im glad that you now are willing to follow barrys advice . I take no offense , in fact I take comfort in the fact that after only one conversation with Barry you are now convinced to make that change . will take a year or more. I expect as a friend you will understand that I will no longer , not even for one day , work on your affairs . without the compensation that is long overdue. . your unilateral idea of after care , not imposed on any other professional , except me, not paul weiss ,( caesars alone , a direct screw up on their part ) tom, akin, ,no one. needs toend.. you and I had previously agreed no more of that , and this after you decided not to pay me per our agreement. to be fair I can not say im surprised as you have email after email , stating that , if you save a great deal of money, you wont want to pay , so limit it to 40m per year. - water under the bridge If I can find the time to work , on your project , which is not by any means certain as I have said, I HOUSE_OVERSIGHT_023240

hope you understand that it now will have to be under my standard terms and conditions. and well documented so as to avoid any more of the he said she said. I never want to have any more uncomfortable money moments with you , I find it very distasteful. . so to be clear , my terms are as follows. I will only work for the usual 40 million per year. It needs to be paid, 25 million upon signing an agreement. 5 million every 2 months thereafter for 6 months ie march may june . this can begin if 1 am able in January. I will immediately stop work , if the payment is not received. If you want me to work this year until Jan 15, it will be 10 million. paid upfront. after one year you will be left with a new estate plan a running office. staffed with professionals overseen by Barry. (hallelujah ) a tax plan . and an investment that returns more than any painting you could possible own. _. no agreement - no work. however - I of course will talk to Barry for the hour that i promised , and take your guidance as to what I should say. 11:45 PM (13 hours ago) to me im in paris now Date: Sun, May 1, 2016 at 6:51 PM Subject: Fwd: Valuation Discount To: Melanie Spinella Fa Leon please read the attached proposed response to the IRS__, see if you can understand it !!!._ Ive asked for are-do. and given prelimiary directions to Alan to have it edited over the weekend If you are quarterbacking ,ok with me. just please let everyone know. you must deal with the outrageous incompetence in your family office .. Alans words " but I was told that.. , but I was told by the office (sic) that ..., BUT 1 was told by joslin,. , but I was told by . " why is leon blaming me for .." I ve have always given you my best advice, If you reflect on your financial life , you have been kept safe , had remarkable results and no disasters. I have repeatedly urged you to get rid of the people in your office. , you have repeatedly chosen to ignore my advice , you told me last week that the emotional reason was in order to be weaned off my group and not have to pay my high fees. ( though ignoring the benefit of between 1.5 and 2b to the better. ). and no explosions. You have email after email »where i remind you that I am not your bookkeeper or accountant ( in brads corporate speak his" finance dept ??!!) that it should be redone .I have reviewed a multitude of the silly reports given to you and have pointed out the continued numerous inaccuracies. your question " so what if the numbers are off , so what if the categories are off. whats the big deal??. I suggest you de risk you finances and make the tough decisions necessary - pay the right amounts ( high) to get the work done properly or , you are , Im afraid, certain to get an unhappy answer.. tom will be back from vacation. this week. Date: Thu, Apr 28, 2016 at 5:16 PM Subject: Valuation Discount To: "jeffrey E." <[email protected]> I am attaching a draft response from Empire Valuation as to why it arrived at a valuation discount on the low end. Let’s discuss the response and next steps. Thanks. Alan Alan S. Halperin | Partner Paul, Weiss, Rifkind, Wharton & Garrison LLP 1285 Avenue of the Americas | New York, NY 10019-6064 HOUSE_OVERSIGHT_023241

es | www paulweiss.com (10 hours ago) to me Jeffrey Pete informs the GIV is completed. Thx, Larry Date: Tue, Nov 15, 2016 at 6:13 AM Subject: Fwd: To: Melanie Spinella iii Leon, Congragulations on biting the bullet. at least 18 months late , but I m encouraged and glad for you. When you interviewed Brad two years ago you asked that i not tell him what a disaster lay before him. what would you like me to tell Barry? There is a HUGE amount of work to be done in the next 9 -12 months. mostly the exact same work that i outlined in my email of 2 years ago. now complicated by years of mess on top. ( you can send it again if you like ). Brad wechsler was never up to the task . sorry, I realize I have been saying the very same thing for a long time. he was a not a step up from Eileen but a step sideways. in the beginning there was Eileen and Tom and Ralph Lerner. all your hand picks. then brad. john, Joe. . joslin was chosen from a pool of 2 people. each that would be limited by a salary of 250k. ( yes 1 personally augmented his comp in order to get him ) I did say hire both Lisa to do the bookkeeping and joslin tax, He complained for over a year , re his direction by eileen and ada , and then brad. His breakdown was not a surprise after months and moths of warnings. Though disabled, he ran your office this year. with john and joe. He ran amok, and as i told you he rarely failed to remind me in our conversations that you told him that he works for you and not for me and that brad needs to pays him . . Asking me who to hire , estate attny tax people etc. : I have taken heat for years over the fact that i gave you no more than carlyns name, . no follow up questions no interactions , not even one single question asked of me re her work. (that was Eileen _) but somehow carlyns fuck up was my doing. . _ when i told you that 1 thought Eileen wasn't up to the task, you bellowed that i was talking out of both sides of my mouth. . You told me this year , that by trying to protect you from crazy joslin, I had in essence fired him and it was my responsibility to do his work. it then turns out that he didn't consider himself fired at all he just received less money. and continued to make a really dangerous mess.. Joshn castrucci, in your eyes , was also my doing , though email after email said , I take no responsibility for him,and 1YOU SHOULD NOT HIRE HIM |!!! , your response was that was my opinion was only because i didn't trust him. then to add insult to injury last jan you told me he was gone. however he too is still there, and a waste of money and space. My time is complicated by Donald's potentially eviscerating any reason for anyone to use the foreign funds repatriation plan that i had put together. . however as you are aware I have some decisions to make re my time allocation in the next year or two. so at least for a few weeks I am unable to commit much time and make any future plans to guide you in the redoing of your procrastination produced HOUSE_OVERSIGHT_023242

mess. That being said , the tasks at hand are the following. You have a bomb of colored string that your retarded children have formed , It has to be very carefully unwound , even the substitution of Barry for your next trustee, needs a careful focus on procedure.s It would be much preferable if Wechsler was not his replacement. do you have any person you trust ??! . I am concerned re brad taking barrys place re XXXX. In the beginning Barry will need to find and learn ACCURATE .. org charts. books , balance sheets . trust valuations. are all a part. Barry will need 2 months to just get his arm around what is there , this is before any needed modifications., a way overdue re- fresh of your estate plan. . clats , trust. partnerships. grats. Ilcs. bank accounts , filing requirements. etc. the long awaited review of the brh tra and shareholders agreement to see how they fit into new plan. . "XXXXX" planning. art partnership engagement .. , airplane re-do. , buying another. .? boat sale , Miami sale. . TRADING ACCOUNTS. . three years overdue. . an accounting system. fire john .. joslin stays for a year. or so. so does tom and . except for heather everyone should be replaced withnew. . Sell Artspace and shut down regan arts. . rationalize. cash flow reporting. cash mgmt. stock sales. sec irs. gaming. foreign reporting. the 8865 mess will take months to review now. . you CANNOT file unreviewed audited documents. .CANNOT!!! _ this will be very detailed work. . a self inflicted wound - all avoidable if professionals had been in place to limit . or contain it. . . you will need 3 new hires .as there is no one in your office that is truly an A player. I have great hope in Barry as you know. He will need to be trained. note ; One year is my guesstimate After 4 years of telling you , that you could do better than Halperin, : im glad that you now are willing to follow barrys advice . I take no offense , in fact I take comfort in the fact that after only one conversation with Barry you are now convinced to make that change . will take a year or more. I expect as a friend you will understand that I will no longer , not even for one day , work on your affairs . without the compensation that is long overdue. . your unilateral idea of after care , not imposed on any other professional , except me, not paul weiss ,( caesars alone , a direct screw up on their part ) tom, akin, ,no one. needs to end.. you and I had previously agreed no more of that , and this after you decided not to pay me per our agreement. to be fair I can not say im surprised as you have email after email , stating that , if you save a great deal of money, you wont want to pay , so limit it to 40m per year. - water under the bridge If I can find the time to work , on your project , which is not by any means certain as I have said, I hope you understand that it now will have to be under my standard terms and conditions. and well documented so as to avoid any more of the he said she said. I never want to have any more uncomfortable money moments with you , I find it very distasteful. . so to be clear , my terms are as follows. I will only work for the usual 40 million per year. It needs to be paid, 25 million upon signing an agreement . 5 million every 2 months thereafter for 6 months ie march may june . this can begin if i am able in January. I will immediately stop work , if the payment is not received. If you want me to work this year until Jan 15, it will be 10 million. paid upfront. after one year you will be left with a new estate plan a running office. staffed with professionals overseen by Barry. (hallelujah ) a tax plan . and an investment that returns more than any painting you could possible own. _. no agreement - no work. however - I of course will talk to Barry for the hour that i promised , and take your guidance as to what I should say. 10On Apr 6, 2018, at 11:15 AM, Jeskewitz, Jeannine (> wrote: I’m in touch with Lesley and Jl we will work together on these reservations. All my best, HOUSE_OVERSIGHT_023243

Jeannine On Tue, Apr 3, 2018 at 5:43 PM, Lisa Emelia Svensson <Q wrote: Air France has a strejk ... so French Trying to rebook later in the week Will let you know 3 apr. 2018 kl. 16:29 skrev jeffrey E. <[email protected]>: im in paris now Date: Tue, Nov 15, 2016 at 6:13 AM Subject: Fwd: To: Melanie Spinella <- 3 iii > Leon, Congragulations on biting the bullet. at least 18 months late , but Im encouraged and glad for you. When you interviewed Brad two years ago you asked that 1 not tell him what a disaster lay before him. what would you like me to tell Barry? There is a HUGE amount of work to be done in the next 9 -12 months. mostly the exact same work that i outlined in my email of 2 years ago. now complicated by years of mess on top. ( you can send it again if you like ). Brad wechsler was never up to the task . sorry, I realize I have been saying the very same thing for a long time. he was a not a step up from Eileen but a step sideways. in the beginning there was Eileen and Tom and Ralph Lerner. all your hand picks. then brad. john, Joe. . joslin was chosen from a pool of 2 people. each that would be limited by a salary of 250k. ( yes i personally augmented his comp in order to get him ) I did say hire both Lisa to do the bookkeeping and joslin tax, He complained for over a year , re his direction by eileen and ada , and then brad. His breakdown was not a surprise after months and moths of warnings. Though disabled, he ran your office this year. with john and joe. He ran amok, and as i told you he rarely failed to remind me in our conversations that you told him that he works for you and not for me and that brad needs to pays him . . Asking me who to hire , estate attny tax people etc. : I have taken heat for years over the fact that i gave you no more than carlyns name, . no follow up questions no interactions , not even one single question asked of me re her work. ( that was Eileen _ ) but somehow carlyns fuck up was my doing. . _ when i told you that i thought Eileen wasn't up to the task, you bellowed that i was talking out of both sides of my mouth. . You told me this year , that by trying to protect you from crazy joslin, I had in essence fired him and it was my responsibility to do his work. it then turns out that he didn't consider himself fired at all he just received less money. and continued to make a really dangerous mess.. Joshn castrucci, in your eyes , was also my doing , though email after email said , I take no responsibility for him,and 1YOU SHOULD NOT HIRE HIM |!!!, , your response was that was my opinion was only because i didn't trust him. then to add insult to injury last jan you told me he was gone. however he too is still there, and a waste of money and space. My time is complicated by Donald's potentially eviscerating any reason for anyone to use the foreign funds repatriation plan that 1 had put together. . however as you are aware I have some decisions to make re my time allocation in the next year or two. so at least for a few weeks I am unable to commit much time and make any future plans to guide you in the redoing of your procrastination produced mess. That being said, the tasks at hand are the following. You have a bomb of colored string that your retarded children have formed , It has to be very carefully HOUSE_OVERSIGHT_023244

unwound , even the substitution of Barry for your next trustee, needs a careful focus on procedure.s It would be much preferable if Wechsler was not his replacement. do you have any person you trust ??! . I am concerned re brad taking barrys place re XXXX. In the beginning Barry will need to find and learn ACCURATE . org charts. books , balance sheets . trust valuations. are all a part. Barry will need 2 months to just get his arm around what is there , this is before any needed modifications., a way overdue re- fresh of your estate plan. . clats , trust. partnerships. grats. Ilcs. bank accounts , filing requirements. etc. the long awaited review of the brh tra and shareholders agreement to see how they fit into new plan. . "XXXXX" planning. art partnership engagement .. , airplane re-do. , buying another. .? boat sale , Miami sale. . TRADING ACCOUNTS. . three years overdue. . an accounting system. fire john .. joslin stays for a year. or so. so does tom and . except for heather everyone should be replaced withnew. . Sell Artspace and shut down regan arts. . rationalize. cash flow reporting. cash mgmt. stock sales. sec irs. gaming. foreign reporting. the 8865 mess will take months to review now. . you CANNOT file unreviewed audited documents. .CANNOT!!! | this will be very detailed work. . a self inflicted wound - all avoidable if professionals had been in place to limit . or contain it. . . you will need 3 new hires .as there is no one in your office that is truly an A player. I have great hope in Barry as you know. He will need to be trained. note ; One year is my guesstimate After 4 years of telling you , that you could do better than Halperin, : im glad that you now are willing to follow barrys advice . I take no offense , in fact I take comfort in the fact that after only one conversation with Barry you are now convinced to make that change . will take a year or more. I expect as a friend you will understand that I will no longer , not even for one day , work on your affairs . without the compensation that is long overdue. . your unilateral idea of after care , not imposed on any other professional , except me, not paul weiss ,( caesars alone , a direct screw up on their part ) tom, akin, ,no one. needs toend.. you and I had previously agreed no more of that , and this after you decided not to pay me per our agreement. to be fair I can not say im surprised as you have email after email , stating that , if you save a great deal of money, you wont want to pay , so limit it to 40m per year. - water under the bridge If I can find the time to work , on your project , which is not by any means certain as I have said, I hope you understand that it now will have to be under my standard terms and conditions. and well documented so as to avoid any more of the he said she said. I never want to have any more uncomfortable money moments with you , I find it very distasteful. . so to be clear , my terms are as follows. I will only work for the usual 40 million per year. It needs to be paid, 25 million upon signing an agreement . 5 million every 2 months thereafter for 6 months ie march may june . this can begin if i am able in January. I will immediately stop work , if the payment is not received. If you want me to work this year until Jan 15, it will be 10 million. paid upfront. after one year you will be left with a new estate plan a running office. staffed with professionals overseen by Barry. (hallelujah ) a tax plan . and an investment that returns more than any painting you could possible own. _. no agreement - no work. however - I of course will talk to Barry for the hour that i promised , and take your guidance as to what I should say. Date: Mon, Aug 29, 2016 at 1:41 PM Subject: I know you have a lot on your mind.but.. To: Melanie Spinella ._ - sent to you JAN 29th 2016 you've agreed that Your office is a multi billion dollar responsibility. your children will inherit it , in order to oversee their financial lives- I feel for you, truly ,but the facts are the facts, your ceo ( Brad) has provided one bad HOUSE_OVERSIGHT_023245

document after another for over a year , no getting away from it,, badcash flows nonewIT, each time with " its gettting better" no in fact -! itsnot. - the excuse, that Brad is not the numbers guy, is ludicrous. of course he didnt actually prepare the statements. - no ceo would ,- but over and over he presented them to you and me, after , holding them back for his personal review multiple times and after multiple drafts. weeks of his editing, the consistant but "inexplicable "missing the obvious serious errors .( gaming ) inaccuracies, ( cashflow ) and mistakes (tax returns). why, ?! the simple answer is that at best, he is ac minus, (note. I, like you ,also give points for effort. )-! an elegant art partnership gone fallow. ??!!I and its core reason to exist. not used ? no docs for plane?, still ! why? no docs for decantings why? the docs for deal | received last night , "no docs at all for deal 2, the biggest ". why wasn't Tom brought in, after 4 times of my incessant reminders your admonition etc. the trading accounts ? Barry Cohen is great. more like him please . you asked ,- I did my best trying to train your brad chosen people in the face of my telling you that they were never going to be more than c-minuses, thousands of emails thousands? Brad at its head . you can't as aceo, have an accountant give you multiple pages with the most important numbers missing altogether and not notice, you and I saw the errrors right away ,as did my very junior bookeeper after only a cursory glance. He told me he didnt know the details of his note? ! , my guess is that he wanted to pay less. no more than that, any other story is blather. its silly. Talk to richard yourself. re your estate. Yes another Brad issue - your will, needs revision. the tenants in common structure I assume Alan has carefully walked you through. it is way overdue, needed and exciting. I won't list the more serious issues in an email but we can speak over the weekend. How can I help? We agreed at the time when you hired Castrucci , that when you fired him, I would bear no responsibility Date: Thu, May 12, 2016 at 6:17 AM Subject: tight schedule lets try a set time to speak To: Melanie Spinella < Leon, you hired me to produce a work of art. it was not inexpensive. the value far exceeds any other piece in your collection.- by FAR. It took me 30 years to be able to craft such a work. I understand your desire to modifiy my work, in doing so you have brad telling me , just a bit more red., here let me show you, you yourself pick up a brush a add some strokes. you have joslin spray water on it to maintain it. I vigorously complain that joslin in ruining my work .. you describe me as zeus, i describe it as artist and a reaction to his work being ruined. however Im aware that you own the work and you have the right to paint over it. tear it up , put it in the closet in the basement . its yours. I was told that Toms office is sending someone in ,or some people in, to review "some things." brad told me ,the partnership accounting. I know absolutely nothing more than that. though bringing in his team was my idea . Having them review things without even asking for my input , or let alone my direction ,is ridiculous. but.. I guess you wanted to save money. ? The audit has brought to the fore the lack of your office quality that 1 have been violently squawking about. ie. children playing with works of art. . It is inconceivable to me that John castrucct is still there , Joslin part time, but relied on . joe error prone and brad a corporate bandleader talking about the office's finance team, accounting dept, and directing wendy to do things that are clearly not in your interest. ( saving money again?) its nuts!! . a still non-existent IT dept. impossible , it was the first thing on my list of things that were needed to be done. Still no trading accounts to speak of , though its prophylactic quality has been discussed over and over during the past three years . computers do not read Page Six. the women atthe IRS do.! you said your motivation in keeping this group of part timers HOUSE_OVERSIGHT_023246

was a consequence of the high cost of my artwork. . the unfortunate result was easily predictable. - now If you want my and my atelier to continue, I will oversee the audits. take charge of the TRA BRH assignments and review 2012 amendment options!!( note :your redo of the estate fire drill has not progressed very far ). Lots of paper needs to be collected and reviewed, At MY direction. the outside team will be brought in at my expense working for me and you. coming in for interviews and reviews, . sucession, technology, tax and compliance. investment reporting , , computerized timelines for filings etc. . household classifcations and reporting with a system of best practices. My goal is clear - to end, not extend , our financial interactions. you will have a machine that works , it will not be complexto oversee , to create it, is some thing else . Unfortunatley for us both, the price for my works has not changed since day one. 40m per year, I m willing to discount it to 35 as I did give you a bad number when asked and should pay an embarassment fine. Im also aware, as you made perfectly clear . that you have already paid what you consider a great deal of money, for my work , but again its value exceeds anything else by far in your collection at a cost less than agreed upon. . please also remember that you and i agreed no more demands on my time after the last payment for the big transaction. OR, you can decide that brad , tom , and whomever else you choose can screw with my work and they can oversee your audits . they are both aware and sensitive to the issue at hand. alan could be brought in but i would be extra careful having paul weiss given access to entire story. _-On an unrelated note- you recently seemed shy to discuss certain things. , please be assured I make no judgement on any of your activities , whether or not i agree with them . not my role I am always on your side on the table. I hope your personal life quiets. you 've had a rough 15 months. 3. Remind me to talk to you about MR Date: Mon, Sep 19, 2016 at 8:56 PM Subject: To: Melanie Spinella hii, dec 2015 IT, still desperately needed- reporting flawed cumbersome and inaccurate . all done by hand as one -off exercises , - airplane: re structure, (my only suggested priority in june ) is really ,no further ahead, ,consultants up the kazoo but nothing at all done.( the office was told that i cannot even see the proposals received without brads specific authorization ) - brad has no idea even as to what questions to ask. he knows little of finance, is run roughshod over by almost everyone in the office. he is a little man , using your power, to appear larger . Eileen was self aware enough to know she was over her head , that is a huge difference. bad info is rampant ie 3 million in deductions Im told are taken for art space but on closer examination it turns out they cannot be used at all. (ZERO benefit ) though you will be told yes they were deducted on the return they said that is the question they get asked! " were they deducted "not -" is there a benefit" !! I asked for the balance sheet and P and L for Regan arts , a basic first step in order to check your financials. "sorry we never got one?" though 9.8 million invested, no p&l, nothing , a construction project run amok , no budget, the coo fired after only 3 months. , no clue . I can add that artspace financials are also a total mess. As your friend and in order toturn the page. I will try to be constructive The following is a list of things I think would be in your interest to get done asap .but definitely not by me. isuggest you form new grats. , hire a high level tax partner. use your trading accounts as they remain the paramount requirement 16 months after i emailed to you their importance. , I suggest you consider having the 49percent of phaidon merged into artspance and have Richard buy artspace. re-do bank HOUSE_OVERSIGHT_023247

loans. no need to pay interest at higher rates on boat or plane. . as Richard is now no longer trustee. re- do will, make suydam executor , with Barry, and john as back up. pay 1 million a year for executor role. get rid of Judy Black trust, deal with gifts and their tax returns, . review amounts to kids at fixed ages. put more protections in for Alex and Victoria. , distribute some money to kids let them make decisions. , decide art division with children in attendance . have fire drill done on estate. fill out estate returns as if you and Debra died today, choose advisers - rick bronstein said the only 1040 he ever filled out was his own. ( this is brads chosen advisor??!) Halperin has a conflict that should be addressed., Debra should enter a tenants in common agreement with kids. you have airplane consultants tax consultants it consultants. plane operation consultant. . boat consultants. architects, lighting , art, legal, . foundation , deal with TRA , BRH,, rationalize investments. cash flow. reporting, gaming disclosures. foreign, gift. . prepare tax projections for 15 and 16, . deal with neg basis ( tufts gain, debt financed. art partnership, pledges. sell stock , art, deal with phaidon debt. athene,? income , capital , foreign , exit, corporate, insurance regs, out and inbound issues, basis, appropriate discount rates. ? terminations. control. , qualified dividends. corporate tolls, inversion rules. , grat issues, short swing and other sec disclosures, Rothshcild bank, 150 b they have a distribution network with no products , private bank Rockefeller Rothschild. financial service. deal with UK visa issue sooner rather than later. we can talk about Rowen request re Athene , 2 billion in taxes on transaction. ?! the facts as i see them in June and then again Sept, we both agreed to a 50% of phaidon payout., then after weeks of thinking about the issue ( which I fully understand ) . the payout was unilaterally changed . 5m woudl be reserved for the future ? . and out of the remaining 15m ,? 1 would receive only 5. ( note : I'm confident that both the debt , and the artspace investment will also lead to a write off of another 30 m. plus ) In my dining room ,you were surprised when I said that i require most people to pay their advisory fee up front so that I am assured that I will be properly compensated for my work when strategies that I devise are implemented . you may recall that you appeared offended and said " are you suggesting that 1 would go back on my word" I said no , of course not ! you are my closest of friends ,but my experience is that when amounts get large, people tend to get unhappy when it actually comes time for them to pay ,. From day zero a 50 - 60 million price was attached as the fair price of the transaction just completed . though this amount was already substantially less thanour agreed and negotiated formula. - I was never told that this was out of range. in fact, alternative methods of payment. plane -in-kind etc, were discussed (ie keeping the 30m portion of fee outstanding till March ) ,I provided as requested a detailed step by step execution plan and reviewed all documents that i was given access to. ( Phaidon was not forthcoming ) in order to make my many corrections. I was then told that Alans involvement warranted a discount. Even in the best of light , though it is beyond question that not one-,not -one time in three years has he ever proposed a unique idea. (including the new tenant in common idea,) and lets say he made a contribution to the plan andeven that it was 50 %. though no one could posit such a large amount unless they were wearing a brightly colored clown suit. , the price of doing the deal was known . It had both sent in writing and spoken about on the phone numerous times , a detailed execution plan was provided . then and only then after all was laid out for the group I was told that after a number of conversations with brad karp that only 20m would be paid , (and even that was more than originally contemplated ) for both transactions . I feel It was remarkably unfair. Did brad even know of our prior agreement.? I called him and he said he was never told.?, I would ask that you I and Brad karp sit together if you think it would be helpful. . I would like to send him this email, with your consent of course. Ifthe transactions were never consummated , 1 would not be owed a dime, however , the price was known up front. , the detailed step by step plan was followed and overseen by me, the price that had been requested before the transaction was begun, and had Iready heavily discounted, out of friendship, from our agreement . I believe the decision re paying only 20 m has frankly left me felling quite uneasy. HOUSE_OVERSIGHT_023248

since you asked since last nov. ifound 11 million dollars in dormant accounts. 4 million dollars in eileens drawer. . went through cash flows for phaidon shwoing that john murphy is not an accountant. redid your gagosian contract ,. organized structure in case of divorce. set up gift trust. stopped ada from including multiple times things not in your interest. dealt with bad sales tax use tax income tax . created 8 millino in deductions ,500k in mistakes , found bank of scotland fbar problems, . . reorg bad art purchases , funds taken, , charibale decustions , helped with fincnacil sttment gamoing commions fling. . boat deductions, rescued stock from grats.. may | after months of brad not finding anyone i sent an email saying you would have to pay more. . on april 15. I sent an email detailing payments owed if i could figure out the basis issue, please see attached, . questions you might ask your team ask them to provide a balance sheet or p&1 for REgan arts. doesnt exist ask . either wechsler or haperin to tell you what brh is, or how the tra works. .. ? as bronstein to tell you why the proposed phaidon transaction DOES not work. . as them to give you a plan for the plane. ? ask them to show you the cash mgmt for over 100 million dollars. . ask them to show you the IT system progress after one year. . the approval process for payables. . the cash flow projections? assumptions? ask for a comparative review of investments. ask haperin to describle to you in any detail BRH , the major asset of his two biggest clients. tax basis, disposiotion in the estate. . etc. ask brad to show you the liquidation of the inteveing art space cos? . Last year you asked , for my help I told you I preferred not as we would be better off having no financial intereactions. the risk was not worth it. You told me that as my friend i had to do it Iagreed., here we are in what I find to be an awkward situation. the transactions that 1 decvised were used _, our agreement was ignored. and im not sure how to respond. Date: Thu, Sep 29, 2016 at 11:47 AM Subject: new info To: Brad S ae | Melanie Spinella hii! brad, leon. After I spoke to you both, I excused myself from a dinner with some heads of state to walk into the bathroom to make some calls re 8865. I wondered whether any group that we could assert had control had filed in the past years. I called Fenn and he told me- yes.???!! he said that on friday , for the first time he learned that AGM was not delinquent at all. and had filed. !!_| I asked why no one had ever told me or given me the purported justification for no filings in the past for the founders. and he said Well, sorry , it was discussed on fridays call. ? the calli was not on . not invited to ,the call wechsler didnt listen in and joslin didnt transmit , if itis true. Im also now told there is a note from Deloitte re 13 and 14 that says the founders DO NOT have to file. but fenn could not tell me who wrote it and said Deloitte says to ignore it. , that s why they are pushing now. steps 1 8865 has many exemptions for filing. let see if we can find one . ( an elegant position might be josh and agm if he is panicked and leave us out ). The requirments are FACT specific , so without the facts we still have nothing. fenn said he has now put someone on it 2 leon, I suggest need to focus on 1040 , 2015. , we may even consider filing the minimum 8865 , and wait until we are sure of our specific requirements, and file an amendment for 15 as well as past. no harm no foul\ Date: Thu, Sep 29, 2016 at 12:34 PM HOUSE_OVERSIGHT_023249

Subject: To: Melanie Spinclla (iii i i! Leon, Iam on the verge of giving up. sorry. I cannot deal with the major incompetence of your family office. I have been vocal about change. you have made none. john castrucci, still involved etc. the bullshit corporate speak, of -our accounting dept , our bookeeping dept our finance dept, the comptroller now gives me responses that --we have heard from Deloitte , I ask, who at Deloite?. -- dont know , the new team at Deloite says the old team was wrong ! what new team? what old team? -- dont know. . Pwe agrees who at PWC ,?? Iask,- dont know. BDO is almost finished - who,? dont know; . akin gump agrees. . Fenn? - not sure. I have spoken to each of karp,, pezner, fenn, brad. joslin, bodian. multiple times . like your office no one in charge with knowledge. so rudderless hysteria . silly beyond belief as this issue is a non event. other issues have been shunted aside that have real consequences. I know you are jet lagged. I am schedule tightly today , but can free myself for 15 minutes if you want . if so have melanie talk to lesley Date: Monday, 3 October 2016 Subject: To: Jeffrey Epstein <[email protected]> alan told me you are going to meet tomorrow morning. He has asked me to review the presentation. I suggest you see for yourself. since you argued that he was partial architect of the big transaction. you will see. -- bad numbers. unclear assumptions. opaque presentation. no alternatives. no review of agreements. standardized schedules without names , handed out to the dentists.. NOT even up to date inputed numbers , why in the world would they present numbers 4 months old. ??!!/ it is only imputs. dividend assupmtions. a mix of silliness. ( art given to museums is listed as cash out ). discount rates of 13.05 %. what type of number. . 100k for illness expense and funeral, in a spread sheet of 5 billion dollars.? insurance numbers left out. says debra owns half the boat? taxes? all a waste of time A clat probabaly makes sense. however who runs it, if interest rates change. did you give them the assunptions on growth? Date: Sun, May 1, 2016 at 6:51 PM Subject: Fwd: Valuation Discount To: Melanie Spinella <i Leon please read the attached proposed response to the IRS__, see if you can understand it !!!._ Ive asked for are-do. and given prelimiary directions to Alan to have it edited over the weekend If you are quarterbacking ,ok with me. just please let everyone know. you must deal with the outrageous incompetence in your family office .. Alans words " but I was told that.. , but I was told by the office (sic) that ..., BUT 1 was told by joslin,. , but I was told by . " why is leon blaming me for .." I ve have always given you my best advice, If you reflect on your financial life , you have been kept safe , had remarkable results and no disasters. I have repeatedly urged you to get rid of the people in your office. , you have repeatedly chosen to ignore my advice , you told me last week that the emotional reason was in order to be weaned off my group and not have to pay my high fees. ( though ignoring the benefit of between 1.5 and 2b to the better. ). and no explosions. You have email after email »where i remind you that I am not your bookkeeper or accountant ( in brads corporate speak his" finance dept ??!!) that it should be redone .I have reviewed a multitude of the silly reports given to you and have pointed out the continued numerous inaccuracies. your question " so what if the numbers are off , so what if the categories are off. whats the big deal??. I suggest you de risk you finances and make the tough decisions necessary - pay the right amounts ( high) to get the work done properly or , you are , Im afraid, certain to get an unhappy answer.. tom will be back from vacation. this week. HOUSE_OVERSIGHT_023250

Date: Thu, Apr 28, 2016 at 5:16 PM Subject: Valuation Discount To: "jeffrey E." <[email protected]> I am attaching a draft response from Empire Valuation as to why it arrived at a valuation discount on the low end. Let’s discuss the response and next steps. Thanks. Alan Date: Wed, Nov 9, 2016 at 10:27 PM Subject: To: Melanie Spinella iii > sorry, I can call on thurs or sit face to face fri afternoon. . I will be in ny until monday morning. decisions- questions good news . I have a really elegant solution for most of the following, 1 gift tax. cash or in kind. 2.1031. 3 fire drill brh traetc. 4. xxxx 5. 8865s. tax planing running out of time. . 7 restructure office. barry? brad told me he thought you had acknowledged high value this year. gift tax audit etc., . April, Oct. . returns. manage joslin , who is still running your tax dept . you and I need not rehash old postures, its tedious - I would ask that you tell me if you intend to pay for the work that was done, and for the work you expect to be done, . thanks Date: Tue, Nov 15, 2016 at 12:13 PM Subject: Fwd: To: Melanie Spinella - —COS@ Leon, Congragulations on biting the bullet. at least 18 months late , but I m encouraged and glad for you. When you interviewed Brad two years ago you asked that i not tell him what a disaster lay before him. what would you like me to tell Barry? There is a HUGE amount of work to be done in the next 9 -12 months. mostly the exact same work that i outlined in my email of 2 years ago. now complicated by years of mess on top. ( you can send it again if you like ). Brad wechsler was never up to the task . sorry, I realize I have been saying the very same thing for a long time. he was a not a step up from Eileen but a step sideways. in the beginning there was Eileen and Tom and Ralph Lerner. all your hand picks. then brad. john, Joe. . joslin was chosen from a pool of 2 people. each that would be limited by a salary of 250k. ( yes 1 personally augmented his comp in order to get him ) I did say hire both Lisa to do the bookkeeping and joslin tax, He complained for over a year , re his direction by eileen and ada , and then brad. His breakdown was not a surprise after months and moths of warnings. Though disabled, he ran your office this year. with john and joe. He ran amok, and as i told you he rarely failed to remind me in our conversations that you told him that he works for you and not for me and that brad needs to pays him . . Asking me who to hire , estate attny tax people etc. : I have taken heat for years over the fact that i gave you no more than carlyns name, . no follow up questions no interactions , not even one single question asked of me re her work. (that was Eileen _) but somehow carlyns fuck up was my doing. . _ when 1 told you that i thought Eileen wasn't up to the task, you bellowed that i was talking out of both sides of my mouth. . You told me this year , that by trying to protect you from crazy joslin, I had in essence fired him and it was my responsibility to do his work. it then turns out that he didn't consider himself fired at all he just received less money. and continued to make a really dangerous mess.. Joshn castrucci, in your eyes , was also my doing , though email after email said , I take no responsibility for him,and 1YOU SHOULD NOT HIRE HIM |!!! , your response was that was my opinion was only because i didn't trust him. then to add insult to injury last jan you told me he was gone. however he too is still there, and a waste of money and space. My time is complicated by Donald's potentially eviscerating any reason for anyone to use the HOUSE_OVERSIGHT_023251

foreign funds repatriation plan that 1 had put together. . however as you are aware I have some decisions to make re my time allocation in the next year or two. so at least for a few weeks I am unable to commit much time and make any future plans to guide you in the redoing of your procrastination produced mess. That being said, the tasks at hand are the following. You have a bomb of colored string that your retarded children have formed , It has to be very carefully unwound , even the substitution of Barry for your next trustee, needs a careful focus on procedure.s It would be much preferable if Wechsler was not his replacement. do you have any person you trust ??! . I am concerned re brad taking barrys place re XXXX. In the beginning Barry will need to find and learn ACCURATE . org charts. books , balance sheets . trust valuations. are alla part. Barry will need 2 months to just get his arm around what is there , this is before any needed modifications., a way overdue re- fresh of your estate plan. . clats , trust. partnerships. grats. Ilcs. bank accounts , filing requirements. etc. the long awaited review of the brh tra and shareholders agreement to see how they fit into new plan. . "XXXXX" planning. art partnership engagement .. , airplane re-do. , buying another. .? boat sale , Miami sale. . TRADING ACCOUNTS. . three years overdue. . an accounting system. fire john .. joslin stays for a year. or so. so does tom and . except for heather everyone should be replaced withnew. . Sell Artspace and shut down regan arts. . rationalize. cash flow reporting. cash mgmt. stock sales. sec irs. gaming. foreign reporting. the 8865 mess will take months to review now. . you CANNOT file unreviewed audited documents. .CANNOT!!! _ this will be very detailed work. . a self inflicted wound - all avoidable if professionals had been in place to limit . or contain it. . . you will need 3 new hires .as there is no one in your office that is truly an A player. I have great hope in Barry as you know. He will need to be trained. note ; One year is my guesstimate After 4 years of telling you , that you could do better than Halperin, : im glad that you now are willing to follow barrys advice . I take no offense , in fact I take comfort in the fact that after only one conversation with Barry you are now convinced to make that change . will take a year or more. I expect as a friend you will understand that I will no longer , not even for one day , work on your affairs . without the compensation that is long overdue. . your unilateral idea of after care , not imposed on any other professional , except me, not paul weiss ,( caesars alone , a direct screw up on their part ) tom, akin, ,no one. needs toend.. you and I had previously agreed no more of that , and this after you decided not to pay me per our agreement. to be fair I can not say im surprised as you have email after email , stating that , if you save a great deal of money, you wont want to pay , so limit it to 40m per year. - water under the bridge If I can find the time to work , on your project , which is not by any means certain as I have said, I hope you understand that it now will have to be under my standard terms and conditions. and well documented so as to avoid any more of the he said she said. I never want to have any more uncomfortable money moments with you , I find it very distasteful. . so to be clear , my terms are as follows. I will only work for the usual 40 million per year. It needs to be paid, 25 million upon signing an agreement . 5 million every 2 months thereafter for 6 months ie march may june . this can begin if 1 am able in January. I will immediately stop work , if the payment is not received. If you want me to work this year until Jan 15, it will be 10 million. paid upfront. after one year you will be left with a new estate plan a running office. staffed with professionals overseen by Barry. (hallelujah ) a tax plan . and an investment that returns more than any painting you could possible own. __. no agreement - no work. however - I of course will talk to Barry for the hour that i promised , and take your guidance as to what I should say. Date: Tue, Nov 29, 2016 at 1:27 AM HOUSE_OVERSIGHT_023252

Subject: so there is no misunderstandin To: Melanie Spinella a - I have told the brads and barry,- Iam done. its not a negotiation , out !! - fyi given my carlyn joslin castrucci, admonishments,- though my involvement in those - in one instance only gave a name - in another only given an eileen dictated choice btween two 250k preparers. and for castrucci, I actually sent emails that 1 take no responsiblity for his being hired. - however you felt strongly that I should be saddled with their outcomes .even with brad wechsler , i again said two months in, Leon, he doesnt get it. I tell you this so that you will understand that I will not interview, recommend or vet any new hire. A story - In 1993 trump and I had a friend that kept telling his pilots how to fly , and when to fly , he couldnt help himself from hiring morons as co pilots, and maintenance people based on cheapest rates. Donald and I tried and tried to talk some sense into him, to no avail. Donald and I were in aspen, sitting at little nells. when the friends plane crashed into the side of aspen mountain , klliing him and all on board,- Trump looked at me and said without a blink , I guess NOW he wishes he would have listened to us.- a metaphor for your office.. . had we not waited to the very last hour having had a six month window and tens of unasnwered text and emails re decisions needed including the 1031. you would have saved way more than you often feel obliged to argue about. . silly but 1 reallize you are stressed. Barry will need to sit with brad for months, to absorb all the co's , structures. cash flow, financial statments etc. I will present barry my thoughts on the overall redo , it will be the exact same email that i presented to you and brad two years.ago . accurate numbers first. and foremost. . ( last week gaming report stil funky). IT etc I pointed out some of the more glaring errors to barry to give him a flavor of what is to come. Tuesday if you like we should discuss Giacometti , and pesner ._ difficult to finesse him if they are filing documents that you won't. these ridiculous conversations with tons of people on the phone , removes any claim you might have to not be considered a WILLFUL NON-FILER . ( after youve been told by attnys and pwe that you should file in writing , you have NO choice ) ... worst possible result - including serious penalties up the kazoo. Date: Tue, Feb 24, 2015 at 8:20 AM Subject: To: Melanie Spinella (i iii i> Leon, Yesterday , again spent hours upon hours of my time with your office. ,( speak to brad to get flavor) and you and 1 will discuss the results in gory gruesome detail on Friday. it mirrored many other weeks spent doing the things that I don;t have the time to do. In order to keep things in perspective, maybe reviewing an analogy I have used before with you, might be helpful. You and your family are a 6 billion dollar corp. with an income between 250 -500 million dollars per year. It contains a few operating biz's , a large wide array of existing investments, in various categories ,a desire to enter into others. A panoply of loans, notes. purchases, wide range of all types of taxes. , planes. boats homes. . trusts ,grats. a crazy number of bank accts. ( with no oversight ) . law firms, acct firms, 800 page tax returns, foreign firms. art consultants. construction consultants bill payers, home mgmt.,vast multitude of Ilc's , including foreign, and with all that you only have a combined overhead of less that 3 million dollars. I have previously sent you the very same note that 1 have enclosed again below ,this time with highlights . I wrote it to you over a year ago. As my acute disability ( selective memory) seems to have been raised as one of your concerns , as arule I try to memorialize things in writing in an attempt to lay out issues that I fear may later turn out to be a problem. ie what 1 would and wouldn't do , - my responsibilities. ete and those things that are not. below you will find details of things that I HOUSE_OVERSIGHT_023253

thought needed to be done, so that you wouldn't find yourself in the very place where you currently find yourself. however ,you chose to defer many of my suggestions- see below -,until only weeks ago. ! you chose to defer the jpm acct. the art partnership on and on - into this year. and though the 60- 50 AO timber emails all carried with it a clear warning that you needed to do something re personnel if it were to stabilize,- you chose to wait. ONE YEAR AGO Feb 17 2014 1 wrote: With regard the more pressing issue I am uncertain of just how to proceed. I am torn, as my very strong inclination is not to be involved at all . It is extremely time consuming, delicate, fraught with many pitfall many that will make you very upset and a major pain in the ass. I wrote you months ago that the quality of the people involved need to be upgraded. ( lucky for me these last issues arose way before the beginning of my involvement ) I am also aware however of my overarching friendship obligations of ok, -given all the complexities who else can do it? problem. Your family office needs a daddy. children with good intentions are running around , sniping , nitpicking with little direction. As a stopgap measure I am suggesting , we put in Larry Delson to take charge Everyone would report to him. Eileen included. He would however work for me. this is not, by a long shot my first choice as I prefer only being responsible and standing behind my own personal work ( ie the word DONE will no longer be transmitted to reflect status stated by others ) With no commitment on my part whatsoever, to do it. So far as Ihave failed in my attempt in trying to think through the problem creatively . My organizations handling of the more complex issues I believe you might find very costly, very ! (however many structures available some risk sharing, maybe risk caps ,etc ) but would require my teams doing the work , not yours. Ada should be only a trust, grat administrator. not sure what role you prefer for Eileen as you hired her initially to oversee investments. whether Rich your controller stays or not, 1s not urgent. having Tom report to a new person,- is. coordination with Suydam Kathy Gregory, I would suggest limiting to one person. The increasing public profile needs to be taken into consideration. TODAY With your acquiesence , Eileen did not report to Delson ( he acting as a conduit directly to me) , she continued to provide bad info to both you ( cash flows , stock accts, structures. sales Etc) and me. and each time with my many annoying calls to you made immediately afterwards that she was g....-y !! No one was hired to run YOUR office until two months ago , no one was even interviewed and even now , Brad, a very nice man, 1s not even full time,(crazy ) Hours upon hours of time need to be spent training him . and his new staff. Eileen followed your instructions. not mine. in fact she continued to ignore mine saying " but Leon said "or" its on Leon's desk etc", You would become frustrated when 1 pointed out each instance. of her obfuscation. originally you were given the clear choice, but to save money ,you chose not to hire my team . I was hired to do the architecture, you kept your own team. with Eileen at the head. instructions were given by me, , detailed but ignored by her. ( except in the instances where I inserted myself and personally had to do the weeks of grunt work ),ex. jpm morgan acct still not in use? That being said, If you do the cold calculation ,starting from where you were, to where you are currently . you have made a hell ofa deal. -- negotiating down my original amount requested , calling upon our friendship and suggesting that the Carlyn mess was partially my fault. (though in that specific example , I had never been asked to do more than merely provide you the name of the most highly recognized atty in the field, not consulted,nor even asked again for my guidance along the way. ).I accepted the discount as your friend. ( by the way suggesting now, that your Tom is now that last word on tax characterization, frankly is a bit much,-). however - that is all in the past. HOUSE_OVERSIGHT_023254

In order to move forward I would ask that you realize that very unlike yours, My business is only comprised of my personal attention and my personal time . Time that I was forced to grossly overspend on your various issues last year. . As you are my very close friend I will not have you participate in a bidding process that I have decided 1 will have this year for my time . (hopefully a more fair way to allocate ) I would also ask that you keep in mind that though our deal expired months ago. (also keeping in mind , that your understanding of the final payment terms neither reflected the emails or my memory, we finished it up your way. ) I have answered every call Brad , joslin, Ada or you, have made . reviewed docs over and over/ until once again, I was forced to insert myself strongly as I thought it dangerous not to. I made serious dollar and time concessions last year.very serious I am wiling to continue to accommodate some of your concerns , but I am, under no circumstances , none, willing to spend my time for free. its not fair. After cleaning up Carlyn's mess , which was a few weeks and 30 million dollars . We were both highly aware of the dire circumstances in which you found yourself last year, and in fact due predominately to its seriousness. and those very circumstances I took extra care in our negotiations . (you had claimed I had you over a barrel , ( a horrible position to be in with my very close friend.), unfortunately I fear that if you are not cautious ,in the near future, another barrel will appear of your own design ) I heard you when you said you believed 1 had already been paid for the work that is now required. The art partnership has fully answered all your concerns and discharged all my obligations and more so. . (FYI Carlyns art partnership that you referenced is similar in only its title.) You will also recall that you required that my payments be at the end of my work not at the beginning as everyone else's .( my work was never to include hours upon hours of training your staff). I eventually agreed, this of course should make clear that the 2014 tax year that will close Oct 2015 is not covered by our past agreement at all. I pointed this very fact out to you when I initially proposed a multi year agreement right out of the box. you said you preferred not. As you said ,I have produced results to date, far in excess of even my own exalted opinion of my projections. I have devoted a monumental amount of my limited amount of time-- way, way in excess of our agreement. I will be fair, I am willing to roll in the amount still outstanding from last year if that helps .. However, As my best student , and my only one, you are now capable of doing most, if not all, of the required work yourself. I can put my whiteboard away when you come to eat and just have fun, trade stories,. share moments ideas etc.. I am of course always available to guide you as a friend if you choose that route . always . It will take a great deal of your time , but you will not have to spend any more money on mine . We are scheduled to meet fri at 430 , I leave at 5 am sat morning. Date: Tue, Mar 21, 2017 at 6:58 PM Subject: Fwd: request for docs - AAP To: Richard Kahn (Darren Indyke hii - not for now. but maybe later , no-n------ Forwarded message ---------- From: Ada Clapp _ Date: Fri, Mar 17, 2017 at 10:45 AM Subject: RE: request for docs - AAP To: "Barry J. Cohen" ii, "jeffrey E." <[email protected]> Cc: Brad Wechsler <i Attached are: 1. Executed Version of AAP HOUSE_OVERSIGHT_023255