From: Jeff Brodsky <1

From: Jeff Brodsky <1 To: jeffrey E. <[email protected]> CC: Bobby<Ar, Jon Cana, Charlie J Can- , "Alan Greenwell" Subject: Proposal for Family Office Review for Leon Black Date: Thu, 12 May 2016 01:02:13 +0000 Attachments: 05-01-16_FOAS_Tax_Advisoty_Services_SOW_TEMPLATE_(2).pdf; EY_FO_diagnostic_2016-03_(4).pdf; BRD_Table_of contents_(4).pdf Inline-Images: image001.gif Jeff, As we discussed, EY has a defined approach to help a family office review and improve its operations. After discussing with my team the information you shared with me, I'm attaching the following items which describe our recommended approach: 1. A sample Statement of Work for doing a diagnostic review of a family office. This would be coupled with an Engagement Agreement between EY and Leon's family office. Based on our initial discussions, we believe the Phase I review would cost between $150,000 to $200,000 and would include our team of 4 professionals being on site reviewing the family office systems, processes, etc. and conducting interviews over a period of 4 to 5 days, several follow-up phone calls, and a final meeting to present the findings and initial recommendations of our report. Once we are able to gain a better understanding of the family office we can provide a detailed work plan and timeline. 2. Family Office Business Requirements Document and Sample Diagnostic Report. The outcome of our review will be a Diagnostic Report. Attached is a sample report that we use to describe the process to clients, although the actual report is more detailed with findings and recommendations. We use the report to help outline a Business Requirements document (see attached BRD Table of Contents) which defines the key performance indicators that drive the type of reporting that is to be developed for the key stakeholders and management of the family office. Each report is highly customized to each family office based on its needs and key performance indicators. Please review the attached and let me know if you have any questions. It might be helpful to schedule a call with myself and other team members to provide additional insight regarding our approach. We are excited by this opportunity and look forward to hearing back from you. Best regards, Jeff R icid:image00 I Jeff Brodsky I Private Client Services .gif®0lDIAB9 Ernst Young LLP D.33769680 155 N. Wacker Dr.. Chicago. IL 60606 ll I Other: EY COMM 2452763 Marilyn Manias I Phone: Any tax advice in this e-mail should be considered in the context of the tax services we are providing to you. Preliminary tax advice should not be relied upon and may be insufficient for penalty protection. EFTA00827667 The information contained in this message may be privileged and confidential and protected from disclosure. If the reader of this message is not the intended recipient, or an employee or agent responsible for delivering this message to the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication is strictly prohibited. If you have received this communication in error, please notify us immediately by replying to the message and deleting it from your computer. Notice required by law: This e-mail may constitute an advertisement or solicitation under U.S. law, if its primary purpose is to advertise or promote a commercial product or service. You may choose not to receive advertising and promotional messages from Ernst & Young LLP (except for EY Client Portal and the ey.com website, which track e-mail preferences through a separate process) at this e-mail address by forwarding this message to no- [email protected]. If you do so, the sender of this message will be notified promptly. Our principal postal address is 5 Times Square, New York, NY 10036. Thank you. Ernst & Young LLP EFTA00827668