From: Ada Clapp

From: Ada Clapp To: jeffrey E. <[email protected]> CC: Brad Wechsler Subject: Intra Family Notes - Offset Date: Mon, 09 Nov 2015 20:50:40 +0000 Attachments: Intra-Family_Notes_-_DEcanting_Offsets.pdf Hi Jeffrey, Following up on Brad's item 4 in his email below, please see attached. We have a detailed break-out of the notes which I can also forward to you if you would like to see it. Best, Ada Clapp Chief Legal Officer Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. From: Brad Wechsler Sent: Wednesday, November 04, 2015 9:50 AM To: '[email protected]' <[email protected]>; Richard Joslin Cc: Joe Avantariol •; Ada Clapp Subject: Re: ;John Castrucci Jeffrey-a few things: 1. Everybody in the office is super busy (q3 financials, 15 and 16 projections tax/cashflow; trustee book for nov meet; decantings, potential phaidon sale, etc, etc.). That notwithstanding, re your questions: 2. I went thru the change of liabilities and basis with rich j last night and am not comfortable I can explain it fully. I will pick up with rich on this today. Btw, I did get an explanation on the grat charts that does explain the layout, how they work and how a grat can succeed even when a stock goes down over a two year period....makes sense. 3. I have a first cut list of potentially superfluous bank accts which joe can forward to you but which I haven't reviewed yet. 4. 5. We have not yet sat down (we shld do it with you) to look at the "grand" simplification plan, if any. I ve assumed this should be part of the new decanting process. On a smaller scale there are some Iles which I believe/hope can go away such as lbf holdings and perhaps some others. Ada wld you think abt and discuss with rich j/joe, then me. Thx Ada has identified a few places where we can net notes and she shld forward those to you. EFTA00642881 From: Jeffrey E. imalltmjeevacationeomall.com] Sent: Wednesday, November 04, 2015 05:31 AM To: Richard Joslin .; Brad Wechsler Subject: we are still waiting on the number re cash that was received that was not taxed thereby decreasing basis. today if possible, ? also a list of all cos, Ilc partne etc bank accounts and notes that can / should be eliminated as part of the clean up. 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], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved www.inax.com IMAXS is a registered trademark of IMAX Corporation IMPORTANT NOTICE Information contained in this e-mail correspondence and any attachments is confidential information intended only for the use of the individual or entity named above. Any reader of this message who is not the intended recipient of this correspondence is hereby notified that any dissemination. distribution. copying or communication of the contents of this correspondence is strictly prohibited. If this e-mail was not addressed to you . please immediately notify us by phone in Canada at (905) 403-6500 (collect calls will be accepted) or by email at webmasteraimax.com and delete and destroy this correspondence inadvertently sent to you. Thank you EFTA00642882