<table><tr><th>From:</th><th>Ada Clapp</th></tr><tr><td>Sent:</td><td>Tuesday, April 14, 2015 5:01 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Cc:</td><td>Brad Wechsler</td></tr><tr><td>Subject:</td><td>Annuity payment</td></tr></table>

Hi Jeffrey,

Leon has an annuity payment due from GRAT 1 on April=24th. Can we assume that he will NOT re-GRAT this now but that he will do so on June 4th a= the same time he re-GRATs the 6 annuity payments he will receive from GRA=s 2-7 (assuming he decides to re-GRAT those)?

Thanks.

Ada Clapp

Chief Legal Officer

Elysium Management LLC

445 Park Avenue

Suite 1401

New York, New York 10022

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Email: <=pan style="color:#0563C1">aclapp@elysllc.com <mailto:aclapp@elysllc.com>

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