From: Heather Gray czl

From: Heather Gray czl To: jeffrey E. <[email protected]> Subject: RE: Date: Wed, 28 Jun 2017 13:33:24 +0000 Hi Jeffrey, You are correct. I initially told Leon that you could offset the loss against the gain because I was thinking about him and his status as an investor, but then I corrected myself later that same day (the day of the Giacometti sale) and told him that you could not offset the two. Best, Heather From: Jeffrey E. [[email protected]] Sent: Tuesday, June 27, 2017 11:06 AM To: Heather Gray < > Subject: sorry to hear you are not feeling well. as i am not an art investor i cant find any suport to deducting the loss on the giarmonetti vs the gain on the bracque, leon said you had a different view? 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 jea®gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01041669