<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Wednesday, December 16, 2015 4:17 AM</td></tr><tr><td>To:</td><td>Kathy Ruemmler</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

travel safe

- Two email header lines shown:
  - "On Tue, Dec 15, 2015 at 8:27 PM" — contains the phrase "good work" and a mailto link; parts of the address/content are redacted with a black bar.
  - "On Tue, Dec 15, 2015 at 6:01 PM" — includes an HTML-style href="mailto:..." (target="_blank") and the word "wrote:"; email/address content is redacted with black bars.
- Several black redaction blocks obscure email addresses and other details.
- Surrounding/context text (above the image) includes "travel safe" and a note about "Ricole will pay $99 mm" with AUM comparisons.

Credit A=ricole will pay $99 mm. They had roughly the same number of US accou=ts and a lower AUM ($1.8 b, compared to our $2.16 b). This is the co=parison that matters.

Sent from my iPad

<=iv dir="ltr"> please note <=iv>The information contained in this communication is confidential, may=be attorney-client privileged, may constitute inside information, and i= intended only for the use of the addressee. It is the property of J=E Unauthorized use, disclosure or copying of this communication or a=y part thereof is strictly prohibited and may be unlawful. If you have =eceived this communication in error, please notify us immediately by jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication=and all copies thereof, including all attachments. copyright -all right= reserved

=C2 please note

The information contained in this co=munication is confidential, may be attorney-client privileged, may c=nstitute inside information, and is intended only for the use of the ad=ressee. It is the property of JEE Unauthorized use, disclosure or co=ying of this communication or any part thereof is strictly prohibitedand 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</=>, and destroy this communication and all copies thereof, including =11 attachments. copyright -all rights reserved