<table><tr><th>From:</th><th>Ada Clapp</th></tr><tr><td>Sent:</td><td>Friday, January 22, 2016 3:28 PM</td></tr><tr><td>To:</td><td>Jeffrey Epstein</td></tr><tr><td>Cc:</td><td>Brad Wechsler; Halperin, Alan S; Heather Gray</td></tr><tr><td>Subject:</td><td>Art Partnership</td></tr></table>

Hi Jeffrey,

Good timing to be asking about the art partnership. I was planning to outline for Alan today what needs to happen to move this forward. The short answer is that Leon needs to pick a few new pieces of art (to replace those that he contributed to Noel Calb at the end of last year) and a few of the documents need to be revised to reflect the APO-01 Trust as a partner (in place of the APO1 and APO2 Trusts). Heather is planning to sit down with Leon to finalize the new lists

Ada Clapp

Chief Legal Officer

Elysium Management LLC

445 Park Avenue

Suite 1401

New York, New York 10022

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