<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Thursday, October 1, 2015 6:43 PM</td></tr><tr><td>To:</td><td>Melanie Spinella</td></tr><tr><td>Subject:</td><td>Fwd: use tax</td></tr></table>

Forwarded messag= From: Richard Joslin .a <mailto > Date: Thu, Oct 1, 2015 at 1:37 PM Subject: use taxTo: "jeffrey E." <j=eyacation@gmail.com <mailto:jeeyacation@gmail.com»

Below is sales tax pay=ble date/ amount for Picasso (see email )

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Use tax payable @ 9/30=15 - 2015 acquisitions

LDB= 1.55 million

Nar=ows $2.5 million

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Use tax paid 4/15 $1.9=million (with extension)

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Email details:

*   **From:** Heather Gray
*   **Sent:** Wednesday, May 13, 2015 4:27 PM
*   **To:** Richard Joslin, Richard D'Agostino, Samantha Proietto, Aneta Golak
*   **Cc:** Brad Wechsler
*   **Subject:** Picasso - payment schedule

Accounting Team,

The purchase price for the Picasso Buste de femme=(Marie-Therese) is $115 million, plus $10,206,250 in NY sales tax. The payment sc=edule is as follows:

- 1.=C2 $23 million paid on May 12, 2015

- 2.=C2 $34.5 million due on June 30, 2015

- 3.=C2 $28.75 million due on October 1, 2015

4.=C2 New York State & City sales tax of $10,206,250 due=in February 2016 upon transfer of title to and possession of the Work to L=on

- 5.=C2 $28.75 million due on April 15, 2016

I'll remind you about each of the upcoming p=yments two weeks before the payment is due.

I know that you are all very careful about confident=ality, but Leon has emphasized to me several times how very confidential t=is purchase is, so I just want to remind you again to please not discuss t=is work or the details of the purchase with anyone outside of Elysium.

Please let me know if you have any questions. =u>

Best,

Heather

Heather Gray

Elysium Management LLC

445 Park Avenue

Suite 1401

New York, New York 10022

Direct Dial: <tel:

Fax:

<tel:

Email: <mailto

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please note

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