EFTA02350814

From: Ada Clapp Sent: Thursday, January 28, 2016 2:40 PM To: Jeffrey Epstein Cc: Brad Wechsler Subject: Ben's $1.5 Million Loan Good morning Jeffrey, If I understood you correctly, as part of the intra-=amily Note clean-up, you suggested that the Trustees of APO-01 Declaration=consider forgiving the $1.5 million Note from Ben that they hold. If=that is correct, I would like to suggest an alternate approach to eliminating Ben's Note (it is the same appr=ach we used for Ben's $10 million distribution at age 30). Tha= is: 1. The APO-01 Declaration would pay down some of =he Note given to the BEB 2011 Trust when that trust sold its interest in t=e LDB 2011 LLC. The pay-down amount would equal the outstanding prin=ipal and accrued interest of Ben's Note held by the APO-01 Declaration. 2. The BEB 2011 Trust would then distribute the funds =t just received to Ben; and 3. Ben would use the distribution to repay the APO-01 =eclaration the outstanding principal and interest on the $1.5 million Note= This approach allows us to reduce some intra-family =ebt and does not increase anyone's taxable estate. Pleas= let us know if you agree with this approach and we will put it in motion.=o:p> Thanks. c/=pan> Ada Clapp Chief Legal Officer Elysium Management LLC 445 Park Avenue EFTA_R1_01328572 EFTA02350814 Suite 1401 New York, New York 10022 This communication and any attachment is for the =ntended recipient(s) only and may contain information that is privileged, =onfidential and/or proprietary. If you are not the intended reci=ient, you are hereby notified that further dissemination of this communication and its attachments is prohibited.&nbs=; Please delete all copies of this communication and its attachments and n=tify me immediately that you have received them in error. Thank you.=nbsp; 2 EFTA_R1_01328573 EFTA02350815