d unpaid thereon and (iii) modify the payment terms to provide for the payment of interest in cash on an annual basis. Documentation by Global of JMWT Ltd. Debt Global and JMWT Ltd. agree to document the $3.2 million loan made by Global to JMWT Ltd. The Note should have a maturity of December 31, 2024

otal GBP 2,110,562.46. Attached is preference share subscription in October 2013 in the amount of GBP 2,110,000. Phaidon Press Ltd issued shares to JMWT Ltd. EFTA00863679

by Consent of the Members 10/16/14 with authority to act in the name and on behalf of Friends Ventures "in connection with bankin transactions." JMWT Ltd. Wholly owned subsidiary of JMWT Midco Ltd. Directors: Leon D. Black, Directors manage the company. Debra R. Black and Eileen Alexanderson JMW

avoid UK withholding, we are late in doing so, and this goes for the grid note and the other notes from Phaidon Global to Phaidon Press/ or PLB to JMWT Ltd. Concern 2: if we forego registering to avoid withholding, then we are late in remitting the UK tax. I don't know what lateness is less desirable; I