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

From: "Jeffrey E." <[email protected]> To: Richard Joslin Subject: Re: FW: recent art purchases Date: Wed, 11 Feb 2015 17:36:42 +0000 leave these out On Wed, Feb 11, 2015 at 12:59 PM, Richard Joslin < Question to JEE so as to clarify wrote: I) Going forward — which entity should be purchaser fo fine art: AP Narrows or Narrows LLC? (You noted Narrows but want to make sure which Narrows entity) 2) There has been instruction to transfer recent acquisitions from LDB to Narrows a. Same as #1 b. Should the transfer be complete, ie all acquisitions since Lerner transfer (July 2012) or partial, ie recent acquisitions c. From: Heather Gray Sent: Wednesday, February 11, 2015 10:09 AM To: Brad Wechsler Cc: Richard Joslin Subject: FW: recent art purchases Hi Brad, In response to your questions about the recent art purchases email below that I sent to Melanie yesterday (and apologies for not copying you on it — I promise I'm going to start remembering to do that!!): I. Leon has already been invoiced for these purchases and we have paid for all of them, so it is too late to have Narrows pay, but I can certainly prepare a document signed by Leon that transfers ownership of these works from him to Narrows if you would like. Depending on how much art Leon individually wants to contribute to AP Narrows, however, we may want to leave these works in Leon's name. 2. Yes, Rich keeps track of all of these purchases, domestic and international, and makes sure that Leon pays use tax when and where appropriate. EFTA00864738 Happy to discuss this further with you and Rich at your convenience. Best, Heather From: Heather Gray Sent: Tuesday, February 10, 2015 11.16 AM To: Melanie Spinella Subject: recent art purchases Dear Melanie, Here is a list of recent art purchases, all of which have been paid by Leon: Godfather script from Christie's - 11,875 GBP — paid by Leon Bloemaert from Daniel Katzh Ltd. — 240,000 GBP — paid by Leon Two Boilly Old Master drawings from Sotheby's - $36,745.31 — paid by Leon Pontormo from Katrin Bellinger — $8,250,000 — paid by Leon (from the draw down on the Bank of America loan) von Miens and Rubens from Christie's - $2,284,197.50 — paid by Leon (from part of the draw down on the Bank of America loan) I'll send you another email with the rest of the (smaller) purchases, but wanted to get this to you ASAP. Best, Heather Heather Gray Elysium Management LLC 445 Park Avenue EFTA00864739 Suite 1401 New York, New York 10022 Direct Dial: &t,5119s3) Fax: 646-589-0330 Email: 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 EFTA00864740