<table><tr><th>From:</th><th>Richard Joslin</th></tr><tr><td>Sent:</td><td>Thursday, May 21, 2015 12:27 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

I would say yes. However the investment partnerships of size are held =y BFP. Some administrative red tape to assign but manageable. =DB owns AP Alternative Assets that is appropriate size but this is an Apol=o asset

As for redemption, BFP can give notice by May 31 to withdraw $25mm fro= Loan Cascade as of June 30. The balance of BFP hedge funds have cal=ndar annual withdrawal dates or a June 30 withdrawal date for which there =s 90 day notice requirement.

On May 21, 2015, at 6:31 AM, jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@g=ail.com» wrote:

he can assign a 1p interest ?

On Thu, May 21, 2015 at 12:39 AM, Richard Joslin

rote:

I spent a good deal of time on this. Given the Picasso purchase=and the timing of these payments, LDB cash availability is limited if he i= to also make brokerage funding of $15mm and fund APO1interest on note ($=0mm). I am also assuming that DRB cash of $13mm will not be used for this purpose. I am also assuming APO c=sh distributions of $0.35 (August) and $0.34 (Nov) which exceed the $0.33 =istribution in May. BFP cash can be used but this would reduce BFP =istributions and impair LDB cash flow to pay for the above. Last, I am assuming art loan draws of $42.5mm to =over $63.5mm of Picasso payments in June and Oct.

Trusts have cash to cover $25mm at current time and cash needs are suf=iciently spaced to not have any squeeze. I would think a loan from =rust to LDB would be means to fund payment. Alternatively, a loan f=om trusts to BFP and increase BFP distributions and have fee paid 6/3 and 7/24 from GRAT annuity and partially from Leon's=incremental BFP distribution.

On May 20, 2015, at 11:04 PM, jeffrey E. <jeevacation@gmail.com <mailtoieevacation@=mail.com»

wrote:

On Wed, May 20, 2015 at 7:24 AM, Richard Joslin =span dir="ltr" wrote:

On May 19, 2015, at 9:16 PM, Jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@g=ail.com» wrote:

weren't you going to get me some proposals for 25m

On Tue, May 19, 2015 at 6:48 PM, Richard Joslin =span dir="ltr"> wrote:

ESWW shares in name of Financial Trus= Company and signed stock power (Nov 2012) located in EA office (Mar=2015). Stock power was invalid and new stock power was executed and provided to JP Morgan by family office (Mar 2015). =P Morgan went to ESWW transfer agent (Bay City) and was notified tha= the certificates submitted were invalid due to ESWW reverse stock split (=013) as new certificates had been issued by ESWW to replace all previous certificates. Family office re=ched out to Darren lndyke to ask if he could locate new stock certificates=(new certificates would have been issued by ESWW to Financial Trust Compan=). Darren was investigating and liaising with Bay City earlier this month.

From: Jeffrey E. [mailto:jeevacation@gmail.comj
Sent: Tuesday, May 19, 2015 4:43 PM
To: Brad Wechsler; Melanie Spinella; Richard Joslin
Subject:

enviornmanetal solutions is still not done??? =

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 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 note

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 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 note

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

please note

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

4