From: Richard Henriques

From: Richard Henriques To: Jeffrey Epstein cjeevacationgsmail.com> Subject: RE: Donor vehicle Date: Wed, 16 Apr 2014 19:04:17 40000 We will arrange a call for Friday, if that can work. From: Jeffrey Epstein. [[email protected]] Sent: Wednesday, April 16, 2014 10:15 AN To: Richard Henriques Subject: Re: Donor vehide how about a call with you connie and team . at your convenience On Tue, Apr 15, 2014 at 11:29 AM, Richard Henriques wrote: The Gates Foundation has two entitles: one represents the operations of the foundation and the other holds the financial assets. We refer to the second entity as the "asset trust." From: Jeffrey Epstein imalitoleevacationfregmall com Sent: Friday, April 11, 2014 4:19 PM To: Richard Henriques Subject: Re: Donor vehicle what asset trust? On Fri, Apr 11, 2014 at 3:03 PM, Richard Henriques wrote: Thought to keep it simple in the first email and sufficient to address the question. At this point. there is just one other scenario which represents less control by the foundation, yet still consistent with the assumptions we have been discussing: New Non-Membership Public CherRy Serf-Perpetuating Pudik Board with BMGF or BAT Controffed Sub BIAGF creates new Washethbn state nonaokamoraton to cpaity as a peso aunty AIM tie IRS CNenCo). NenCowatid have an ndependem Cord of dreams (or cam ham a minorityof WAGE board members). M a pubhc chanty. No-AC° can sponsor CiAFs. NewCo creates new smiled lubity company subsidiary. Though *holy-owned by Neste. the MX would be rrenager-rrenaged end BlAGF amid sent as the manager. The LLC *old Mkt at brdsdoreted to Nene* that are allacated to 8MGF site. NewCo bobs. invests. dsburses. reports on and othemse administersdna advised funds. LLC holds. invests. dis0urses, capons on. and othenvise administers direct donations or Amiens of tunds from me DAFs with respect to BMGF silos. Primary Benefits: Smarms BMGF from adrnnstraton ol OAPs: DAP investments not aggregated vim BLIGFAIII63r securbes as purposes. Primary Challenges Potential tor LLC level immanent, lo be aggregated with BIAGfitil br secants law purposes; iderorying potential board members: Keened for clsagreernent between operation of Nese° and LLC and removal of BMGF as LLC M8M1993r. reguresstaerg and establishng is own procedures for admnstravon a OAPs ant E,G&F stew. From: Jeffrey Epstein [mailto:[email protected] Sent Friday, Apra 11, 2014 11:24 AN To: Richard Henriques Subject Re: Donor vehicle i thought you had three proposals. ? On Fri, Apr 11, 2014 at 12:12 PM, Richard Henriques • wrote: Following up on our discussion Weds, below is a description of one of the structural scenarios we arc considering. This is clearly a work in progress and your input at this point would be very helpful. This scenario represents a structure with the highest degree of control for the foundation. A key question : Would the 10-12 potential clients you have in mind be comfortable with this approach? Kre OBJECThrgs: • Create a pnvate any vehce aternsave tea private foundation that wfl eared substamal sums to solve gbbal mouses that shoved by a tasted organization with deep expense in managing large. ma-bested philanthrope investmera m a strategc and measureatte way • Parade nthomurn tax efficiency tor donors and minimize mpad on foodabontassel trust payout eml nose tax (for these reasons. al optons presented naive a pubic chanty and do not include gtts dire:Syor indreody tome bun:Won dm asset trust) • Accommodate doncoadimed kinds but strucbse for WAGE comrd over disbasemen and management of kinds for select foundation strategies last 'sibs') • ■ New kfrreenbnuba " alfest BLIGF ot BIN and Melinda Cortnilhv BLIGF creates new Washmbn state ronprottcorporation tomalty as a pails chanty with the IRS (NewCo-), Ma public chati. tie, Cocas sponsor DAFs. NewCo has two classes of membersim: BMGF,SSAI all hold the merrbership interests wth votng nghts (comrdIrg interest) and otter bundaanadcom could be added as nornare members to groyne a pant connection to the agenda= for those who are wanted. BIAGFAMAI. as me young member. has the nght so saw/earn:me al a a majesty of be beard ot dream. IMIGFiliald add choose b spook :MEE personnel a independent drectors (or a nix). Rights could also 'dude 61anuoving the appantivan of indmdiels to cenam key management positions of NewCo: and (ii) apgrovag the amual budget. BSAGF coda make anneal combo:ions to Nests. EFTA00987673 Primary Benefits Ntaorn.rn Ire' crier al ascevs 01 me erory: hgh level of control atoms Sr more streamlined gairemance: can re doncrsiothers Minor/ krnpges for overall en?µ not pst fedora advised funds; easiest stnxtre to gude its clevel)pment and inieraclen Ann 8//GF proyerns and lc gel prcqramsinvesWd in supporling Miladyexpertise Primary Challenges. Time to aeale a new legal ectry an] seek IRS approval: aggregaexl mantlesreporting ud) MEC Alta appeal of a canine cosy to pommel donors: potential repteatcnal risks asesciatednith 'no mxhineuencit: rrernbers do not usuaty have !dowry once, but control eiwa)s creates petered oak: requires staffing and estableting In nen procedures tee admindtraeco of Ws and EIGAIF alas The information contained in this communication is confidential. may be attorney-client privileged, may constitute inside in lommtion, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein 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 or by e-mail to jeeneatista(tiSmalcara, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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 Jeffrey Epstein 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 c-mail to jervaratiogkgmadsom, 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 Jeffrey Epstein 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 c-mail to jecvacation(t)gmail.com and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00987674