<table><tr><th>From:</th><th>Jeffrey Epstein &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Monday, May 20, 2013 1:22 PM</td></tr><tr><td>To:</td><td>Fenn, Patrick</td></tr><tr><td>Subject:</td><td>Re: FW: Early Termination Calculation</td></tr></table>

can we distribute out amh? I want to end up owning t=e holder and the debt. in different pockets.

On Mon, May 20, 2013 at 9:08 AM, =enn, Patrick ██████████ <mailto:███████████> wrote:

Ok. Yes, thinking through possibilities.

From: Jeffrey Epstein Imailto:jeevacation@gmail.com <mailto:jeevacat=on@gmail.com> ] Sent: Monday, May 20, 2013 08:19 AM To: Fenn, Patrick Subject: Re: FW: Early Termination Calculation

could they run the calcuations at a 30 and 35 dollar price=for apo , thanks, also have you given tought to refreshing the=basis in amh.? new loan,? partnership, guaranteed either payments=or assignment of tra in whole?

On Mon, May 20, 2013 at 7:46 AM, Fenn, Patrick <=pan dir="ltr"> <mailto:patrick.fenn@...> wrote:

Jeffrey,

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Calculation from Brian Kn=dson at E&Y. Note that this relates only to the unexchanged unit=, and does not include the existing TRA payments.

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Regards

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Hi Patrick,

Attached is the calculation that we put together for Leon. As we=discussed, this only calculates the estimated early termination payment wi=h respect to the APP units held by Leon - it does not yet calculate the estimated early termination payment with respect to rema=ning TRA benefits related to the 2007 exchange. I have added an assumption= tab to the workbook outlining many of the items that we discussed. Thanks=

Brian

Brian Knudson=span style="font-size:10.0pt;font-family:"Arial","sans-se-if"""> | Partner | National Tax - Partnership and Joint Ventures

Ernst & Young LLP

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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 Jeffrey Epstein 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

IRS Circular 230 Notice Requirement: This communication is not given in the=form of a covered opinion, within the meaning of Circular 230 issued by th= United States Secretary of the Treasury. Thus, we are required to inform =ou that you cannot rely upon any tax advice contained in this communicatio= for the purpose of avoiding United States federal tax penalties. In addit=on, any tax advice contained in this communication may not be used to prom=te, market or recommend a transaction to another party.

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The information contained in this c=mmunication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the a=dressee. It is the property of Jeffrey Epstein Unauthorized use, di=closure or copying of this communication or any part thereof is strictl= prohibited and may be unlawful. If you have received this communication in error, p=ease notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, =nd destroy this communication and all copies thereof, including all attachm=nts. copyright -all rights reserved