<table><tr><th>From:</th><th>An Glass</th></tr><tr><td>Sent:</td><td>Monday, June 29, 2015 2:01 PM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>RE: FW:</td></tr></table>

Jeffrey,

If ok, we would like to call down the $25m on the following schedule.

July 1 =$2m (if this notice is too late please let me know)
August 1 =$7m
Sept 1 =$7.5m
Oct 1=$8.5m

Please let me know if this works.

Thanks

Ari

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Tuesday, June 09, 2015 1:07 PM
To: Ari Glass
Subject: Re: FW:

25

On Tue, Jun 9, 2015 at 1:05 PM, An Glass < > > wrote:

Jeffrey,

Following up on email below and out last meeting. Do you arrive at a final number? And if so is it ok if I send a proposed "draw down" timeline? —meant to coincide with allocations we would make to most effectively put it to work. I'm available if you have anything further to discuss.

Best regards

Ari

Ps- May finished up very well but June is only very modestly positive as of right now.

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

Jeffrey

It was good to see you last week. Thanks for your time and you vote of confidence. The additional capital will allow us to both lower fixed expenses as a percentage of AUM, as well as to be able to allocate to some managers whose minimum for managed accounts exceeded my concentration risk tolerance. Regarding the $30-50m, we will not have time to prepare to pull anything down for 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 sizes, etc. and prepare to take the money down over the following few months.

Best regards

Ari

Ari Glass

Boothbay Management

Managing Member

810 7th Ave

Suite 615

New York, NY 10019

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