<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:
To:</td><td>Tuesday, June 9, 2015 5:07 PM
An Glass</td></tr><tr><td>Subject:</td><td>Re: FW:</td></tr></table>

25

On Tue, Jun 9, 2015 at 1:05 PM, Ari Glass <██████████████████████████</=>> wrote:

## Jeffrey,=/span>

Following up on email =elow and out last meeting. Do you arrive at a final number? An= if so is it ok if I send a proposed "draw down" timeline?. —meant to coincide with allocations we would make to most ef=ectively put it to work. I'm available if you have anything further t= discuss.

## Best regards=/u>

Ari

</=pan>

Ps- May finished up ve=y well but June is only very modestly positive as of right now.<=u>

## </=pan>

From: Ari Glas=
Sent: Tuesday, May 26, 2015 10:58 AM
To: 'Jeffrey Epstein'
Subject:

## Jeffrey

It was good to see you last week. Thanks for y=ur time and you vote of confidence. The additional capital will allo= us to both lower fixed expenses as a percentage of AUM, as well as to be =ble to allocate to some managers whose minimum for managed accounts exceeded my concentration risk tolerance. Regar=ing the $30-50m, we will not have time to prepare to pull anything down fo= June 1, so will start small in July if that works for you. Once you=know a more definitive amount in that range, we will start speaking to some of those managers to negotiate allocation s=zes, etc. and prepare to take the money down over the following few months=

Best regards

Ari

## Jeffrey (cont.)

Ari Glass

Boothbay Management<=>

Managing Member</=>

810 7th A=e

Suite 615<=u>

New York, NY 10019

(P)███████████<tel:███████████>

(c)███████████<tel:███████████>

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