11 Family Trusts already are divided into separate shares for the children. As described in Part II above, we would recommend pouring the assets of the Black Family 1997 Trust into a "mirror" GST-Exempt Heritage Trust. -8- EFTA00591800 PRIVILEGED AND CONFIDENTIAL from the Heritage Trust during Leon's lifetime, upon the

en Alexanderso wrote: Jeffrey, See Phaidon org structure attached. Mechanics of the purchase were as follows: PLB LLC was funded with $54mil from the Black Family 1997 Trust, $3mil from the Black Family 1997 GST Exempt Trust, and $10mil from the LDB 2011 LLC. JMWT LLC was funded with $67,000 from Leon. These provided fu

dated as of May 17, 2007. RECITALS WHEREAS: 1. LBF Holdings, LLC, Leon D. Black ("Leon"), AIF IV Management, Inc., The Black 2006 Family Trust, the Black Family 1997 Trust, and the trustees of eight trusts for the benefit of Leon's children are limited partners of the Partnership (the "Limited Partners"). 2. The rig

imq-412173234-0001.pdf Jeffrey, See Phaidon org structure attached. Mechanics of the purchase were as follows: PLB LLC was funded with $54mi1 from the Black Family 1997 Trust, $3mi1 from=the Black Family 1997 GST Exempt Trust, and $10mil from the LDB 2011 LLC. =MWT LLC was funded with $67,000 from Leon. These provided fun