From: "Barry J. Cohen"

From: "Barry J. Cohen" To: Jeffrey E. <jeevacationggmail.corn> Subject: Plane: PRIVILEGED and CONFIDENTIAL Date: Thu, 28 Dec 2017 15:51:04 +0000 We already deduct interest and depreciation. To deduct operating costs, like fuel, Apollo would have to require Leon to fly private even for personal travel. The usual way this is done, we think, is that the employer (Apollo) would pay for personal travel. Apollo will never do that. Apollo could require Leon to fly private, at his own expense, as a requirement of working at Apollo. That would make personal travel expenses unreimbursed business expenses. Wouldn't those be miscellaneous itemized deductions, which can no longer be used under the new law? We can't really do it for 2017 because Apollo had no such policy. From: Jeffrey E. [mailto:[email protected]] Sent: Thursday, December 28, 2017 9:27 AM To: Barry J. Cohen < Subject: Re: PRIVILEGED and CONFIDENTIAL no, not at all his flying privately for personal will be deidcultble On Thu, Dec 28, 2017 at 9:26 AM, Barry J. Cohen < wrote: Is the goal to have Apollo pay for all of his travel, including personal, due to security concerns? Or is it to promote deductibility? Barry J. Cohen I President and Special Counsel I Elysium Management. LLC From: Jeffrey E. [mailto:[email protected]) Sent: Thursday, December 28, 2017 7:24 AM To: BarryJ. Cohen < > Subject: Re: the key in the past has been a board resolution. , very rare to look behind, unless its for all members of the board. re phaidon. who sold what to who On Thu, Dec 28, 2017 at 6:48 AM, Barry J. Cohen < > wrote: Do you need to do a "security study" to require private plane travel? Sent from my iPhone On Dec 28, 2017, at 6:14 AM, jeffrey E. <[email protected]> wrote: EFTA00934557 Executives are compensated in part based on performance of AAPL in comparison to the S&P 500. Another interesting detail from Apple's proxy statement filling is that Tim Cook is now required to fly on private aircraft. This policy was implemented in 2017 and applies to Cook's business related and personal travel. Apple's board of directors made the call and says the policy is "in the interests of security and efficiency based on our global profile and the highly visible nature of Mr. Cook's role as CEO." 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 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 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 EFTA00934558 destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00934559