<table><tr><th>From: </th><th></th></tr><tr><td>Sent:</td><td>Thursday, December 7, 2017 11:39 AM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

Can I call you at 6:30 pm my time ? I II be between planes too

Ariane de Rothschild

On 7 Dec 2017, at 12:09, jeffrey E. cjeevacation@gmail.com <mailto:jeevacation@gmail.com» wrote:

thats why you fit ! and the merger makes great sense for both sides. on a personal note , I am sensitive to your feelings No one knows better than you , the difficulty of transmitting caring guidance if you feel a person is unaware of the dangers they face. no question that you and JB are almost in the same business. going after the same clients , duplicating the same infrastrucre IT . etc. As I have alwasy have seen it needs to start as some sort of joint operation , as you cant sell out , for fiscal reasons and they based on stock price are too expensive. can speak when you have time

On Thu, Dec 7, 2017 at 1:16 AM,

> wrote:

Sure . It seems Julius bar has no succession plan either ... I m 52& in good health& no intention of going anywhere yet I will be in Paris this afternoon then go directly to MEGEVE all week end to finish the final set up before the hotel opens its doors next Friday

Ariane de Rothschild

On 6 Dec 2017, at 14:23, jeffrey E. <jeevacation@gmail.com <mailto:jeevacation@gmail.com» wrote:

I had posited the same type of reaction with regard the housekeeper comment. . the response was, the bank has put itself in the marketplace and represents long term stability by the name. succession needs to be a part of any new client decision

I m in new york tomorw and paris fri

please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute 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 prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute 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 prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailtoleevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved