EFTA02370621

From: Heather Gray <MIMI Sent: Wednesday, December 9, 2015 10:34 PM To: jeffrey E. Subject: RE: FW: Narrow Holdings Payments -JOINT DEFENSE COMMON INTEREST PRIVILEGE Thanks, that's what I thought. I'll go back to him for more. Invoice is coming tomorrow (Larry's lawyer is going to give it to me along with the motion they plan to file). From: jeffrey E. [mailto:[email protected] Sent: Wednesday, December 09 2015 5:32 PM To: Heather Gray Subject: Re: FW: Narrow Holdings Payments -JOINT DEFENSE COMMON INTEREST PRIVILEGE wires larry can redact his own account info. i want to see where the money went with specificity what was the account name. ? what type and the invoice we now heard about On Wed, Dec 9, 2015 at 6:11 PM, Heather Gray > wrote: Jeffrey, Just received this from Larry Gagosian's attorney. He has provided the chart below showing the movement of the funds, but we still don't have actual bank wire info for payments from Gagosian to Picasso — I assume you still want to see actual wires? Best, Heather From: Matthew Dontzin Sent: Wednesday, December 09, 2015 5:04 PM To: Heather Gray Subject: FW: Narrow Holdings Payments -JOINT DEFENSE COMMON INTEREST PRIVILEGE EFTA_R1_01372673 EFTA02370621 I actually thought I sent this to you previously but no matter and apologies if I didn't. Larry of course wanted me to continue to be totally transparent with Leon and his team. Here is a record of payments received and transmitted by GG. Date Amount Sender Recipient 5/12/15 $23 M Narrow Holdings ("Narrow") GG 5/19/15 $21.16 M GG Maya 6/29/15 $34.5 M Narrow GG 7/1/15 $31.74M (split into 2 wires of $20 M and $11.74 M) GG Maya 2 EFTA_R1_01372674 EFTA02370622 10/1/15 $28.75 M Narrow GG 10/2/15 $25 M GG Maya Total paid by Narrow: $86.25 M Total paid by GG: $77.9 M As the chart and attachments reflect here is the narrative: Larry transferred funds to Maya more or less as Leon made payments on the sculpture. Specifically: • On May 12, 2015, Narrow Holdings LLC made a payment of $23 million to Gagosian Gallery Inc. A week later, on May 19, 2015, Gagosian Gallery Inc. made a payment of $21.16 million to an account held by Maya Widmaier at Banque Leonardo. On June 29, 2015, Narrow Holdings LLC made a payment of $34.5 million to Gagosian Gallery Inc. On July 1, 2015, Gagosian Gallery Inc. made a payment of $20 million to an account held by Maya Widmaier at Banque Leonardo. On the same day Gagosian Gallery Inc. made a second payment of $11.74 million to an account held by Maya Widmaier at Banque Leonardo. • On October 1, 2015, Narrow Holdings LLC made a payment of $28.75 million to Gagosian Gallery Inc. The next day, on October 2, 2015, Gagosian Gallery Inc. made a payment of $25 million to an account held by Maya 3 EFTA_R1_01372675 EFTA02370623 Widmaier at Banque Leonardo. On the same day Gagosian Gallery Inc. made a second payment of $1.45 million to an account held by Maya Widmaier at Banque Leonardo. Thanks for taking my call today. Best Regards Matthew please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 4 EFTA_R1_01372676 EFTA02370624