From: jeffrey E. <jeevacation@gmail.com>
Sent: Monday, June 29, 2015 2:05 PM
To: An Glass; Richard Kahn
Subject: Re: FW:

ok

On Mon, Jun 29, 2015 at 10:01 AM, Ari Glass &=t;

wrote:

Jeffrey,

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

July 1 =$2m (if this no=ice is too late please let me know)

August 1 =$7m=/u>

Sept 1 =$7.5m=/u>

Oct 1=$8.5m</=>

Please let me know if thi= works.

Thanks

Ari<=p>

From: jeffrey =. (mailto:jeeva=ation@gmail.com <mailto:jeevacation@gmail.com> I
Sent: Tuesday, June 09, 2015 1:07 PM
To: An Glass
Subject: Re: FW:

## 25

On Tue, Jun 9, 2015 at 1:05 PM, Ari Glass <███████████████████&=t; wrote:

## 25 (cont.)

Jeffrey,=u>

Following up on email =elow and out last meeting. Do you arrive at a final number? An= 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 w=rk. I'm available if you have anything further to discuss.

Best regards=/u>

<signature> Ari</=>

Ps• May finished up ve=y well but June is only very modestly positive as of right now.<=u>

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

## Jeffrey

It was good to see you last week. Thanks for y=ur time and you vote of confidence. The additional capital will
allo= 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 =ccounts exceeded my concentration risk tolerance. Regarding the $30-=0m, we will not have
time to prepare to pull anything down for June 1, so =ill start small in July if that works for you. Once you know a more
definitive amount in that range, we wi=l start speaking to some of those managers to negotiate allocation sizes, =tc. and
prepare to take the money down over the following few months.</=>

Best regards

Ari

Ari Glass

Boothbay Management<=span>

Managing Member

810 7th A=e

Suite 615<=u>

New York, NY 10019</=pan>

████████████████

## Jeffrey (cont.)

The information contained in this e-mail and any att=chments may be legally privileged, proprietary and/or confidential. If you=are not an intended recipient, you are hereby notified that any use, copyi=g, disclosure or distribution of all or any portion of this e-mail and any attachments is strictly prohibit=d. If you received this e-mail in error, please notify the sender, permane=tly delete the e-mail and any attachments, and destroy all hard copies imm=diately. This communication should not be regarded as an offer, solicitation or recommendation to sell or pur=hase any security or other financial product. Boothbay and its related ent=ties reserve the right to monitor and/or save all e-mail communications th=ough their networks.

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

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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

## Jeffrey (cont.)

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