<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Wednesday, February 25, 2015 12:41 AM</td></tr><tr><td>To:</td><td>Ada Clapp</td></tr><tr><td>Subject:</td><td>Re: Re-GRAT-ing March Annuity payments</td></tr></table>

check with him I m not sure

On Tue, Feb 24, 2015 at 6:19 PM, Ada Clapp < <mailto > > wrote:

Hi Jeffrey,

Next week (March 3rd), Leon is to receive=annuity payments from GRATs 2-6. He also received an annuity payment=from GRAT No 1 on January 24th, the in-kind portion of which he=did not re-GRAT. Are you on board with Leon creating GRAT No. 7 and funding it with all of the BFP interests (i) =e received on January 24th from GRAT No. 1 and (ii) that he wil= receive from GRATs 2-6 on March 3rd?

Ada Clapp

Chief Legal Officer

Elysium Management LLC

445 Park Avenue

Suite 1401

New York, New York 10022

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