<table><tr><th>From:</th><th>Pritzker, Tom</th></tr><tr><td>Sent:</td><td>Saturday, July 18, 2015 1:26 AM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>RE:</td></tr></table>

On the plane headed to Oxford. Need to sleep.

I really like Ariana and admire her for what she is trying to do. The degree of difficulty is very high. She's fighting several national systems, a boys club, a family with brand confusion, the disruptive world etc. I suggested to Ariana the idea of hiring TPO for 51.00, we would spend her money putting together a strategic plan and then try to figure out how to execute on that plan. Joe (the guy who I brought in to run TPO) and I discussed it after she left. We were exhausted just hearing her very cogent and well-reasoned description of the challenges. Joe thinks it goes into the box labelled "too tough". I suggested we think of a deal we couldn't refuse. She wanted to speak with Benjamin about this which is fine. We left the ball in her court to come back to us. Joe is probably right, but I like Ariana and it's a very interesting dynamic.

tjp

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Friday, July 17, 2015 07:33 PM
To: Pritzker, Tom
Subject:

??

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