<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Thursday, July 23, 2015 10:55 AM</td></tr><tr><td>To:</td><td>A. de Rothschild-2</td></tr><tr><td>Subject:</td><td>privledged and cofidential</td></tr></table>

hope your flight was uneventful. . I have some=great photos and memories of all your girls at Fekkai 1. =AO in addition to cynthia maybe moving to private side. = think we should consider bringing kathy in full time , either bank side o= private side. ( her lack of language skills can be augm=nted but her full time work ethic and dedication is unbeatable. =AO I have not yet mentioned to her but i think we have a good =hot,as she loves the family. 2 . with photos and structure, =AO art loan is easy, you could choose one of 4 big banks. =A0 3. DOJ, for the phone. 4. I am happy to c=niinue to help as a friend . I know cash is tight. however to =o things really right. means a great deal of time focus and ne= people brought in. I cherish our firendship and much prefer no fina=cial interaction , .- you have helped me a great deal. and very much=appreciate your candor and sharing. If you choose to have me and my =eam really involved . doj negotiation etc. structureing family=, KBL etc. , we should be able to invent a method of compensation =C2 . I spoke to Kathy about an idea last night. and=she or I can fill you in , if you choose to want it. 4 a=d most imporant. . you and I agree that a " s=rategy " is not appropirate in general. however prioritie= are. too many little things. small private =quity, a large proportion of time managing compartmentalizaiton. =AO due to lack of trust. ( well reasoned ,). I tho=ght david had said no to the 2 seats on the board already, fig=ting and losing , just to make a stir, not a good use of time. =brands . ubs. kbl, doj, ceo, asset mgr. personal side . cash flow. sucessi=ns, trusts. guardains, rationalizaiotn of financial architecture, TO= much for one person. much too much

please no=e

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