<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Wednesday, June 3, 2015 12:26 PM</td></tr><tr><td>To:</td><td>Richard Joslin</td></tr><tr><td>Subject:</td><td>Re: Re:</td></tr></table>

changed recently?? when? this year =last year. this month?

On Tue, Jun 2, 2015 at 11:00 AM, Richard Joslin < <mailto > wrote:

I spoke to Captain Sputh who indicate= that at outset a few vendors were given this address. We will work =ith the captain in getting these vendors a Cayman address. As for suite 1, it appears to have been a typo. =South confirmed that no invoices are sent to 760 Park.

As for charter agreement, the captain=indicated it was an address used at the outset that was not changed until =ecently. Going forward he will change to Cayman address. He also noted that Rob Maas — maritime attorney —=reviews charter contacts and might have better answer why 760 Park was use=. He also indicated that Rob Maas handled Starfire purchase, the transfer =n Malta and set up of Isle of Man registration with Moore Stephens for overall VAT administration. I will reach out=to him today for more information on Isle of Man.

From: jeffrey E. [mailto:jeevacation@gmail.comj
Sent: Tuesday, June 02, 2015 9:29 AM
To: Richard Joslin
Cc: Melanie Spinella; Brad Wechsler
Subject: Re:

you sent me an invoice with 760 park avenue SU=TE 1 . what was that?

On Tue, Jun 2, 2015 at 9:25 AM, Richard Joslin <<= href="mailto:████████████"
target="_blank">████████████=/a>> wrote:

## FBAR:

Tom may revisions and posted to porta= yesterday. I reviewed and posed additional questions to Tom Turrin. Tom responded last night with comments at 8:02pm. I wirl speak to him this AM. Once we agree on presentation, I will give y=u draft FBAR report.

## FBAR: (cont.)

Isle of man — please see atta=hed Moore Stephens memo re Isle of Man VAT registration. I will conf=rm with Captain Sputh that Isle of Man was chosen for VAT registration. =AO Also attached is memo PW paralegal wrote on BJAV which provides br=ad summary. Captain was contacted yesterday/ afternoon a=d I will look to speak to him today. He is on GMT time. Attached is a sampling of invoices. No invoices have ever been sent =r mailed to 760 Park. All invoices come to family office via email from Captain Sputh. Sputh has had vendor relationships for many years =nd some date back to Carl Ichan (CCI) ownership . I will confirm with Captain Sputh how he receives invoices.=C2 I assembled 30 invoices for your perusal. Some invoices are cl=arly emailed only as there is no address. Some use dock where boat i= berthed. Some use CCI address of 767 Fifth Ave. Some use Captain South's address in Florida. Many use Cayman and Islerof Man addresses. A few use 760 Park. As for charters, S=uth has continued to use the same form as when used when captain for CCI.=C2 Generally the address used is 760 Park or 445 Park. =AO Note that CCI charters used CCI address on Fifth Ave. See attached page o=e for CCI charter and two recent BJAV charters. I will look to discuss wit= Sputh today the invoice address and the charter address. I asked EA=for color on use of 760 Park and her review of her files was a dead end.

For construction of SH Meadow (bay ho=se) , we are capitalizing into basis. We value this property at tax basis on our books. For the townhouse we are doing same. =AO We have these invoices and as such we review each to determine ca=ital vs expense. For other real estate we have valued based on=valuation guidance provided by JEE and/ or EA/ BJW. For invoices that we have access or have collected, we have capitalized but value the p=operty rather than use tax basis (books). Miriam had analyzed =60 improvements based on her records over the past several years and she d=d not find a material amount. A more detailed review is warranted for determining gain the 760 Park coop is sold.=C2 A project that needs to be completed is compiling all invoices for t=e Field House construction and derive a tax basis. Also the in=urance reimbursement information will be needed.

Trading — Entity was cr=ated yesterday by PW. PW/ Ada are working on LLC agreement.

JPM has not sent all docs for trading=via an LLC. They were to send option doc last night. I also asked them to prefill the docs with the entity name. I am scheduling=a call with them today to go over the form completion. DB has sent account=opening docs for an entity with entity name pre-filled. They will come to =ur offices to review today. Samantha is assisting on the form completion. Plan is to submit to JPM and DB=this Wednesday with BJW signature. KYC will follow once LLC ag=eement is provided. ISDA/ CSA will follow account opening.=/u>

Plane depreciation: Not completed. =AO We are putting Avioneta books FY 2014 in order to reflect a) chartering under 135 starting mid-year b) retro-active reimbursements from Apollo =AO c) chartring palne to Jet as part of 135 operations. I need to si= down with Tom to review the prior year depreciation. His initial ta=e was that he was not comfortable claiming depreciation for any period that there was not charter operations.=/p>

April books — we prepare comp=site financials quarterly where we eliminate intercompany loans, roll up holding LLC's into a composite look thru, mark all securities a=d positions to market. For non-quarter end, we can provide stand alo=e financials. Let's discuss with BJW.=/u>

## FBAR: (cont.)

From: Jeffrey E. [mailto:jeevacation@gmail.com)
Sent: Tuesday, June 02, 2015 7:08 AM
To: Richard Joslin; Melanie Spinella; Brad Wechsler
Subject:

I still do not have a draft FBAR, I do =ot understand isle of mann, cayman law/ trust co. relation. .=invoices paid where. ?, do we have all the papers for D= JPM, and Goldman Sachs.?. jpm said all docs apart from power of attny still not co=pelte? . are we capitalizing money spent on houses. =A0? shouldn't it show in real esate valuation increase. .=? have we prepared a depreciation schedule for the airplane. ? =recover past untaken.. ( special form ). , , have we closed the books on apr=I , if so i would like to see them today. thanks

please no=e

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please no=e

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this

## FBAR: (cont.)

communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

please =ote

The information contained in this communication is confiden=ial, may be attorney-client privileged, may constitute inside informati=n, and is intended only for the use of the addressee. It is the propert= of JEE Unauthorized use, disclosure or copying of this communica=ion or any part thereof is strictly prohibited and may be unlawful. If =ou have received this communication in error, please notify us immediat=ly by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail=com> , and destroy this comm=nication and all copies thereof, including all attachments. copyright -=11 rights reserved