EFTA01933443

To: Eileen Alexanderson Cc: ari ; Elizabeth Damaskos : Richard D'Agostino jeevacation@gmai .com eevaca ion gmail.com] From: Richard Joslin Sent: Tue 2/25/2014 8:26:41 PM Subject: RE: Institutional Art Loans Eileen/Ada: I asked Jeffrey Haber to update the endorsement to have the Trust be a named payee. I asked Jeffrey to to send you his language to the endorsement for the insurance policy on the institutional art loans and specifically the Van Gogh listed below currently at the Musee D'Orsay by 1997 Family Trust (APO2). I think the named insured should be the Trust vs a general statement. Also there is a loan in negotiation of a Picasso by 1997 Trust (APO2) which should be entered into by the Trust (named on loan agreement). Jeffrey is writing a policy on this work. Please keep me posted on this agreement as it comes into final shape As there is decanting of 1997 Trust to APO2, I will proceed to update the insurance endorsement and notify Jeffrey Haber when appropriate. Please give me the effective date of the asset transfer. Let's sit down to discuss any questions/concerns Thanks From: Richard Joslin Sent: Friday, February 21, 2014 6:29 PM EFTA_R1_00386658 EFTA01933443 To: Eileen Alexanderson; Ada Clapp Cc: art; Elizabeth Damaskos Subject: FW: Institutional Art Loans I sent this to JEE earlier today 3 attachments I. Signed loans — schedule by owner and value. I designate where Haber has written policy for the institution. All loans are insured by the borrowing institution. 2. Loans in negotiation — schedule by owner and value. Some are trust loans and we can discuss having trustee sign vs Diana. Diana is authorized signatory per the agreement. 3. Status of institutional loans and copies of all signed contracts. (Click the light blue icon that looks like tp (a bookmark) and that will allow you to find each contract quickly). 4. I contacted Haber regarding the two trust owned works out on loan and he will call back on Monday re named insured to the trust. He will be contacting the borrowing institution and securing certificate of coverage. 5. Per Diana and Withers: All loan periods should be assumed to begin and end about three weeks earlier and later than the exhibition periods but the dates are usually fluid until they are ready to move. Loan dates per contract are different than the exhibition dates. I will speak to Haber on the policies he wrote to see the term of each. 6. Diana handles logistics of moving/ shipping to/fro and works with the borrowing institutions. 7. Diana indicated that 100% of the loans are written and documented by Withers; Leon, Diana and Withers negotiate fine art loans. There are no loans for which Withers is not directly involved. 8. As indicated earlier, the BoFA pledge agreement has a covenant that requires BoFA consent on moving any of the pledged artwork — Amended and Restated pledge agreement dated June 10, 2003. 9. Works of art that are recently purchased have been partially identified; Jasper Johs works were purchased Jan 2014 and the Burgkmair works LDB will identify to EFTA_R1_00386659 EFTA01933444 Diana. Let's discuss this more on Monday or give me a call over the weekend. EFTA_R1_00386660 EFTA01933445