EFTA02380297

From: Richard Joslin •: , Sent: Thursday, October 1, 2015 5:38 PM To: Jeffrey E. Subject: use tax Below is sales tax pay=ble date/ amount for Picasso (see email ) Use tax payable @ 9/30=15 - 2015 acquisitions LDB= 1.55 million Nar=ows $2.5 million Use tax paid 4/15 $1.9=million (with extension) From: Heather Gray Sent: Wednesday, May 13, 2015 4:27 PM To: Richard Joslin Richard D'Agostino r y Subject: Picasso - payment schedule Accounting Team, >; Samantha Proietto The purchase price for the Picasso Buste de femme.(Marie-Therese) is $115 million, plus $10,206,250 in NY sales tax. The payment sc=edule is as follows: 1. $23 million paid on May 12, 2015 EFTA_R1_01394370 EFTA02380297 2. $34.5 million due on June 30, 2015 3. $28.75 million due on October 1, 2015 4. New York State & City sales tax of $10,206,250 =ue in February 2016 upon transfer of title to and possession of the Work t= Leon 5. $28.75 million due on April 15, 2016 I'll remind you about each of the upcoming pay=ents two weeks before the payment is due. I know that you are all very careful about confident=ality, but Leon has emphasized to me several times how very confidential t=is purchase is, so I just want to remind you again to please not discuss t=is work or the details of the purchase with anyone outside of Elysium. Please let me know if you have any questions. =o:p> Best, Heather Heather Gray Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: 2 EFTA_R1_01394371 EFTA02380298