<table><tr><th>From:</th><th>Connie Collingsworth &lt;</th></tr><tr><td>Sent:</td><td>Tuesday, July 29, 2014 7:13 PM</td></tr><tr><td>To:</td><td>jeevacation@gmail.com</td></tr><tr><td>Cc:</td><td>Larry Cohen</td></tr><tr><td>Subject:</td><td>update</td></tr></table>

Jeffrey,

Just a quick note to update you on status. We =re working on finalizing the memos. The securities folks at Morgan L=wis have a call scheduled on Thursday with your contacts at Paul Weiss to =onfirm that they are thinking along the same lines. We have one more call scheduled with the major DAFs and commu=ity foundations, which is providing very interesting information from a pr=ctical perspective. As I have mentioned, we are preparing a chart th=t summarizes the key points of these call. As you may know, Larry Cohen just got back from being out of the office an= Rob and I are working on scheduling a call with him to bring him up to sp=ed and make sure we are coordinating. I will be out of the office st=rting August 2nd on vacation, so the packet of materials will be completed before I leave.

Let me know if you have any questions.

Connie R. Colli=gsworth

General Counsel

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Assistant Diana Blair

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Bill & Melinda Gates Foundation

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