EFTA02368941

From: Richard Joslin Sent: Wednesday, February 11, 2015 4:59 PM To: jeffrey E. Subject: FW: recent art purchases Question to JEE so as =o clarify 1)&n=sp; Going forward =#8211; which entity should be purchaser fo fine art: AP Narrows or N=rrows LLC? (You noted Narrows but want to make sure which Narrows en=ity) 2)&n=sp; There has been=instruction to transfer recent acquisitions from LOB to Narrows=/span> a. &nbs=; Same as #1 b. &nbs=; Should the tra=sfer be complete, ie all acquisitions since Lerner transfer (July 2012) or=partial, ie recent acquisitions c. &nbs=; From: Heather Gray Sent: Wednesday, February 11, 2015 10:09 AM To: Brad Wechsler Cc: Richard Joslin Subject: FW: recent art purchases Hi Brad, In response to your questions about the recent art p=rchases email below that I sent to Melanie yesterday (and apologies for no= copying you on it — I promise I'm going to start remembering =o do that!!): 1. Leon has already been invoiced for these purchases and we have paid for=all of them, so it is too late to have Narrows pay, but I can certainly pr=pare a document signed by Leon that transfers ownership of these works from him to Narrows if you would like.&=bsp; Depending on how much art Leon individually wants to contribute to AP=Narrows, however, we may want to leave these works in Leon's name. 2. Y=s, Rich keeps track of all of these purchases, domestic and international,=and makes sure that Leon pays use tax when and where appropriate. EFTA_R1_01368382 EFTA02368941 Happy to discuss this further with you and Rich at y=ur convenience. Best, Heather From: Heather Gray Sent: Tuesday, February 10, 2015 11:16 AM To: Melanie Spinella ( Subject: recent art purchases Dear Melanie, Here is a list of recent art purchases, all of which=have been paid by Leon: Godfather script from Christie's — 11,87= GBP — paid by Leon Bloemaert from Daniel Katzh Ltd. — 240,000 GBP=— paid by Leon Two Boilly Old Master drawings from Sotheby's = $36,745.31— paid by Leon Pontormo from Katrin Bellinger - $8,250,000 &#=211; paid by Leon (from the draw down on the Bank of America loan) von Miens and Rubens from Christie's - $2,284=197.50 - paid by Leon (from part of the draw down on the Bank of Ame=ica loan) I'll send you another email with the rest of t=e (smaller) purchases, but wanted to get this to you ASAP. Best, Heather Heather Gray Elysium Management LLC 445 Park Avenue 2 EFTA_R1_01368383 EFTA02368942 Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: 3 EFTA_R1_01368384 EFTA02368943