<table><tr><th>From:</th><th>Ada Clapp &lt;</th></tr><tr><td>Sent:</td><td>Thursday, December 10, 2015 4:26 PM</td></tr><tr><td>To:</td><td>Jeffrey Epstein</td></tr><tr><td>Cc:</td><td>Halperin, Alan S</td></tr><tr><td>Subject:</td><td>Interest rate</td></tr><tr><td>Importance:</td><td>High</td></tr></table>

This morning you changed 7 year note (midterm AFR) t= a 10 year note (long term AFR). That makes 2 notes at the long term=AFR. Do you want to make smaller note a 9 year note (midterm AFR)?

Ada Clapp

Chief Legal Officer

Elysium Management LLC

445 Park Avenue

Suite 1401

New York, New York 10022

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