<table><tr><th>From:</th><th>Brad Wechsler .,</th></tr><tr><td>Sent:</td><td>Friday, May 22, 2015 8:02 PM</td></tr><tr><td>To:</td><td>Jeffrey Epstein</td></tr><tr><td>Cc:</td><td>Melanie Spinella</td></tr><tr><td>Subject:</td><td>Fw: Phaidon governance</td></tr></table>

Fyi...
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From: "Barry J. Cohen" <██████████████████████████████> </=iv>
Date: Fri, 22 May 2015 19:12:35 +0000
To: 'Brad Wechsler'<██████████████████████████>; 'Ada Clapp'&l=██████████████████████>
Subject: Phaidon governance

I'm wondering if the trustees should run the Phaid=n and Art Partnership structures by our outside counsel, Irene Steiner at =kin. Would that make sense? It would pain me to slow things do=n, and I'm not looking to waste money, but maybe it gives us all an added layer of comfort?

I can discuss with the trustees and we will make up =ur own minds. But is it possible that this might give Leon an added =easure of comfort?

Barry Cohen

Apollo Management

9 West 57th Street, 37th Floorq=pan>

New York, NY 10019</=:p>

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