<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Monday, September 15, 2014 8:36 PM</td></tr><tr><td>To:</td><td>A. de Rothschild</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

It can be a disregarded entity

On Monday, Septemb=r 15, 2014, A. de Rothschild <███████████ <mailto:███████████> > wrote:

1/ Yves is in the plane on his way back=. He has my mail asking him to work with Kathy

2/ the cousins have answ=red that they refuse to transfer the R brands into a new entity as 81=uot; their fiscal cost " would be too high.

## Sent =rom my iPhone

On 15 sept. 2014, at 14:08, "jeffrey E.&q=ot; <jeevacation@gmail.com <javascript:_e("%7B%7D",'cvml','jeevacation@gm-il.com');> > wrote:

<=>

actions

=AO please note

The information contained in this=communication is confidential, may be attorney-client privileged, mayconstitute 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 prohibite= and may be unlawful. If you have received this communication in err=r, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communica=ion and all copies thereof, including all attachments. copyright -all r=ghts reserved

## Sent =rom my iPhone (cont.)

The informa=ion contained in this communication is confidential, may be attorney-cl=ent privileged, may constitute inside information, and is intended only=for the use of the addressee. It is the property of JEE Unauthori=ed use, disclosure or copying of this communication or any part thereof=is strictly prohibited and may be unlawful. If you have received thiscommunication in error, please notify us immediately by return e-mail =r by e-mail to =eevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies=thereof, including all attachments. copyright -all rights reserved adiv>