From: Heather Gray <[email protected]>

From: Heather Gray <[email protected]> To: jeffrey E. <[email protected]> Subject: RE: art lists Date: Wed, 20 Jul 2016 22:20:39 +0000 Got it. I'll run the lists and send them to you. Maybe we can talk at some point about the best way to structure the exchange so we don't run into sales tax problems. From: jeffrey E. [[email protected]] Sent: Wednesday, July 20, 2016 5:51 PM To: Heather Gray <[email protected]> Subject: Re: art lists yes i would like to exhanve any gains in the trusts for losses in leons side the trust should have losses so that leon on death woudl get a step up. and elimiate the tax otherwise needed to paid by the kids On Wed, Jul 20, 2016 at 5:47 PM, Heather Gray <HGrayadyslIc.com> wrote: Hi Jeffrey, Brad asked me to re-run the art lists based on his conversation with you, so I just wanted to loop back to you to make sure I'm setting the lists up the way the two of you discussed. I'm planning to run separate lists for each entity/person showing all art owned by that entity/person, sorted from largest gain to largest loss and breaking out separate gain and loss columns so that you will have one column for gains (which will also show the aggregate amount of gain) and one column for losses (also showing the aggregate amount of losses). Okay with you? Best, Heather Heather Gray Elysium Management LLC 445 Park Avenue Suite 1401 New York, NY 10022 646-589-0315 [email protected] 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 EFTA00716225 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 EFTA00716226