<table><tr><th>From:</th><th>McCaffrey, Carlyn</th></tr><tr><td>Sent:</td><td>Tuesday, December 18, 2012 1:37 PM</td></tr><tr><td>To:</td><td>Jeffrey Epstein</td></tr><tr><td>Cc:</td><td>Kirschner, Elyse; Eileen Alexanderson</td></tr><tr><td>Subject:</td><td>RE: Re:</td></tr></table>

It create= a level of concern that I would rather avoid. We don't have that pr=blem if we use Debra.

Carlyn S. McCaffrey I Partner

McDermott Will & E=ery LLP | 340 Madison Avenue, New York, NY 10173
+1  =/span:  > <=span> | www.mwe.com
<http://www.mwe.com> <=:p>

</=>

From: Jeffrey Epstein [mailto:jeevacation@gma=l.com]
Sent: Tuesday, December 18, 2012 8:31AM
To: M=Caffrey, Carlyn
Subject: Re: Re:

i thought that is only one for one, ? vic=-josh josh,ben, / do they combine like step transaction? =you are great

On Tue, Dec 18, 2012=at 9:28 AM, McCaffrey, Carlyn > > wrote:

If the other children are beneficiaries, we would have a recip=ocal trust problem

</=:p>

Carlyn S. McCaffrey | Par=ner
McDermott Will & Emery LLP | 340 Madison Avenue, New Yo=k, NY 10173
+= 
www.mwe.com

From:<=pan style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> Jeffrey =pstein [mailto:=eevacation@gmail.com <mailto:jeevacation@gmail.com> ]
Sent: Tuesday, December 18, 2012 8:27=AM
To: McCaffrey, Carlyn
Subject: Re:

I thought that each child could hav= the other three as benef , not debra , can you se=d another co-vel letter I cannot locate the first either<=o:p>

On Tue, <u>Dec 18, 2012 at 9:22 AM,</u> McCaffrey, Carlyn < /a» wrote: <mailtc

I've asked Darren to =end me a copy of the letter you already signed so I can modify it. W= can't seem to find it.

<=pan style=lont-size:11.0pt;font-family:"Calibri","sans-serir;color:41F=97D'>The plan so far is to have distributions made to the two younger chil=ren from their individual trusts. They will use those funds to fund =heir new trusts. The two older ones will use portions of the notes t=at were issued to them from their individual trusts. Because those n=tes would not make very good investments for long term, multi-generational=trusts, we expect that the notes will be paid off when they are held by th= trustees of the new trusts.

We expect that Leon and Debra will be trust=es. Leon will be an independent trustee.

www.mwe.com

From: Jeffrey Epstein (mailto:jeevacation@gmail.comj
Sent: Tuesday, December 18, 2012 8:14 AM
To: Darren Indyk=; McCaffrey, Carlyn
Subject:

=nbsp;

status of co vel? letter, leo=s children signing etc.

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