<table><tr><th>From:</th><th>Ada Clapp &lt;a</th></tr><tr><td>Sent:
To:</td><td>Tuesday, November 26, 2013 1:23 PM
Jeffrey Epstein</td></tr><tr><td>Cc:</td><td>Eileen Alexanderson; Melanie Spinella</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

Hi Jeffrey

Carlyn's me=o will lay that all out. Unfortunately, we don't have it yet. Elyse confess=d that they did to focus totally on income tax consequences until we asked t=em to put it in paper. She is waiting for Rich to confirm the income t=x liability of turning over the policies to the S-corp. Rich was also going=to quantify the possible gift tax exposure if the IRS comes back and assert= loan regime treatment since 2007. I am reluctant to give Leon a status mem= until Carlyn has fully laid out her plan. What do you suggest? I will chec= back with rich today on timing.

Sent from my iPhone

Ada

On Nov 26, 2013, at 7=22 AM, Jeffrey Epstein <jeevaca=ion@gmail.com <mailto:jeevacation@gmail.com» wrote:

Ada , please send Leon a copy of all the memos on the s=lit dollar issue, please also include carlyns first proposals. h= would I like to understand where we are , how we got here, and what the ch=ices are and why .

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