<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:
To:</td><td>Wednesday, July 16, 2014 5:22 PM
Vahe Stepanian</td></tr><tr><td>Subject:</td><td>Re: JPM Position (C]</td></tr></table>

Yes

On Wednesday, July 16, 2014, Vahe Stepanian <█████████████████████> wrote:<=r>

Classification: Confidential

Good Afternoon Jeffrey,

Just spoke to Rich - he mentioned that you would like to sell 10% of your JPM holdings each week for the next 10 weeks.

Current position = 14,503 JPM shares Goal = Sell 1450/week for 10 weeks

Week 1: July 14th
Week 10: Sept. 15th

Ok to sell 1450 shares today with JPM up $0.69 to $58.96? Chart below for your convenience.

Thank you,
Vahe

--

Vahe Stepanian
Associate I Wealth Investment Coverage

Deutsche Bank Securities Inc.
Deutsche Asset & Wealth Management
345 Park Avenue - 26th Floor
New York, NY 10154.0004

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