From: "jeffrey E." <[email protected]>

From: "jeffrey E." <[email protected]> To: Richard Joslin -4 Subject: Re: FW: URI options ( follow-up) Date: Fri, 27 Mar 2015 10:37:42 +0000 on whose instructions?? On Fri, Mar 27, 2015 at 6:26 AM, Richard Joslin < IMa wrote: See attached — I maximized the tax calculation to minimize the disgorgement From: Richard Joslin Sent: Friday, February 20, 2015 8:50 AM To: Glen Leibowitz Cc: Eileen Alexanderson; Richard Subject: RE: URI options ( follow-up) Glen: Attached is a calculation of tax for IRI exercise. It follows same approach as SIR exercise in 2014. I incorporated the SIRI option on SE tax and medicare tax so that the taxes were calibrated given the FICA limit and Medicare tax limit. The disgorgement is calculated at $196,342.59. Please review and approve. Thanks RJ From: Eileen Alexanderson Sent: Thursday, February 19, 2015 6:36 PM To: Glen Leibowitz Cc: Richard Joslin Subject: Re: URI options ( follow-up) EFTA00861364 Will do. Thank you Glen. Sent from my iPhone On Feb 19, 2015, at 6:28 PM, Glen Leibowitz < wrote: Eileen, I just spoke with John Suydam to confirm the conclusions reached related to our review of the director fees, specifically related to the Founders. Due to the AGM 2007 re-organization all assets of the individual management and advisor entities were contributed to Apollo Global Management. The assets contributed include all vested and unvested equity awards for all services on Boards related to the Founders regardless of the service period or grant date. Related to the Founders, at the time we performed the director fee analysis review in 2014, we only had evidence to known equity grants from information gathered from 1/1/2007 and forward, if any other grants resulting from grants prior to 2007, that become vested and exercised for any board services prior to 1/1/2007, the proceeds from those awards need to be returned to Apollo, net of tax. As a result of the director option exercise for United Rentals that you provided, can you please send the following remittance: Total proceeds: $411,885.69 Less taxes ( 50%): (205,942.85) Net payment to Apollo: 205,942.84 Wire instructions: Bank Name: JP Morgan Chase ABA#: 021-000-021 FBO: Apollo Management Holdings, LP A/C#: 2042529970 Attention: Maile Van Den Beldt ( Please let me know if you have any questions. EFTA00861365 Best Regards, Glen Leibowitz I Apollo Global Management L.L.C. 9 WP.51-52thatteeL-New vn, Irnin m, From: Eileen Alexanderson Imailto Sent: Wednesday, February 04, 2015 1:42 PM To: Glen Leibowitz Subject: URI options Eileen Alexanderson Elysium Management 445 Park Avenue Suite 1401 New York NY 10022 Phone: Email: This email and any files transmitted with it are confidential and intended solely for the person or entity to whom they are addressed and may contain confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon this information by persons or entities other than the intended recipient is prohibited. If you have received this email in error please contact the sender and delete the material from any computer. Apollo Global Management, LLC EFTA00861366 <doc03743220150204130918.pdf> 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 jeevacation®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00861367