From: Richard Joslin
Sent: Wednesday, April 1, 2015 11A0 AM
To: Jeffrey E.; Brad Wechsler
Subject: UK

Phaidon Global's debt with Phaidon will be registered with UK HRMC passport=such that all debt is availed for zero treaty withholding prospectively. =or interest paid heretofore, 20% UK will be paid (a few thousand dollars a=d return filed in next two weeks. Once passport is received, no withholdi=g. Since Phaidon Global was paid interest sans withholding, PhaidonGlobal=will have a small payable to Phaidon Press. Phaidon Global can make adjus=ment to grid note or just wire the S$ to Phaidon Press.

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