Elysium Management LLC

Elysium Management LLC 445 Park Avenue Suite 1401 Ncw York, New York 10022 Ada Clapp Phone: 646-589.0303 Email: To: From: Cc: Date: Re: Jeffrey Epstein Ada Clapp Bradley Wechsler March 23, 2015 Phaidon Charts/Eileen's Authority Brad asked me to send you the attached items: 1. A chart listing the family entities for which Eileen has authority to act. Brad indicated that some of the banking authority has already changed since the delegations were issue and that other banking authority is in the process of changing. 2. Updated versions of the Phaidon charts Brad sent to you on March 5th. Please note that late Friday we discovered changes that need to be made to page 2. This page shows funds transferred November 2014 as follows: • $806,000 from APO2 Trust to PLB LLC ("PLB") • $45,000 from 1997 GST-Exempt Trust to PLB • $149,000 from APO' Trust to PLB • $1 million from PLB to Phaidon Global LLC ("Global") In fact, the November, 2014 bank statement for Global indicates that funds were transferred directly into Global's account (and not into PLB's account), as follows: • $850,750 from APO2 Trust to Global • $140,925 from APOI Trust to Global • $8,325 from APOI Trust to Global It was intended that the APO2 Trust would lend $45,000 to the 1997 GST-Exempt Trust, so it could make a contribution to PLB. Depending on our overall restructuring, we can prepare a Note to reflect the loan. We can also prepare a contribution agreement to reflect that the intention was for each of the trusts to make their contribution into PLB and for PLB to make the $1 million contribution to Global. The chart shows a $1,000 receivable from Leon to JMWT LLC but should also show a $1,000 receivable from JMWT LLC to Global. I believe we should consider having both receivables paid. EFTA01125921 PHAIDON STRUCTURE CHART Acquisition Funding (augmented by incremental $3.2m investment March & May 2013 - shown in blue) BEB 2011 Trust JMB 2011 Trust Black Family 1997 Trust (NY)** LOAN S33m 10/3/12 (Repaid 10/24/13 & 4/16/14) Black Family Partners LP 80.59% LOAN 51.6m 3/14/13 LOAN SI.6m 5/21/13 $54m 10/3/12 EQUITY 10/3/12 $66,001,800 $332,510 $242,812 ASB 2011 Trust LDB 2011 LLC (DE)•" 14.93% PLB LLC (DE) Manager: JH ADVANCE for Pret. shs $1.6m3/i4 B ► , , ' JMWT Acquisition LLP (UK) ADVANCE VRB 2011 Trust 1997 GST EX Trust (NY)" 4.48% 567k 1 I/4/12 EQUITY 0.1% Stem 5/22/13 EQUITY STAMP TAX ACQ EXP McFarlane's Client Account fo JMWT Acq LLP on behalf of PLB & JMWT LLCs To Shareholders Phaidon Press GmbH (Germany) £27.5m 10/3/12 T EQUITY JMWT Topco Limited (UK) £27.5m 10/3/12 y EQUITY JMWT Midco Limited (UK) 3/19/2015 DRAFT KEY: *Trustees BC, JH, RR Bents DRB, BEB, JMB, ASB, VRB "Trustees DRB, BC, JR, RR Benes BEB, JMB, ASB, VRB, DRB "'Trustees BC, JH, DRB, UST Admin Benes BEB, JMB, ASB, VRB 567k* 11/4/12 • X100% JMWT LLC (DE) Manager. LDB Designated Members: JMWT LLC — Leon Black PLB LLC — Debra Black £13.7m 10/3/12 DEBT Directors: LDB, EA Directors: LDB, EA £27.5m + £13.7m 10/3/12 EQUITY • -10--• • - JMWT Limited (UK) ► BIDCO 1 LE41.2m to selling for PPI. 'As 10,312 Directors: LDB, DRB, EA Subscription for Pref. shs (£ 2.11m = S3.2m) 10/24/13 Phaidon Press Limited (UK) Directors: Key Execs, EA Phaidon Press Inc. MRL (UK) Phaidon Press Sarl (France) Phaidon Press SI (Italy) Phaidon Press (Australia) Phaidon Press KK (Japan) •55 transferred from Leon & Debra JT Acct, NB. LDB has no separate account EFTA01125922 PHAIDON STRUCTURE CHART: Financing subsequent to formation of Phaidon Global All entities shown, Schedule A as Artspace Acquisition Detail 3/19/2015 DRAFT Reflecting activity a/o 12/31/14 201 ‘ "... JMB 2011 • " -- ASB 2011 • I r"- T -V12B 2011 .. -•• • .. Trust", • c% Trust"' .9i (. Trust"' rust"' • , .. r - - . rt Black Fami y 1997 Trust...* (NY)" , •• 41 i APO2 Trust (NY)' EQUITY 5500k 8113/14 54.25m 8/14/14 Paul. Weiss Client Account 100% EQUITY S200$4 I I/13/14 PASI LLC (DE) Manager BC EQUITY 54.75m 8/16/14 100% AS HIdgs Ltd. (Bermuda) Mgr. PAST LLC Officer EA LDB 2011 LLC (DE) "1 Member Managed ' APO' Trust (NY)• ) 80.59% 14.93% EQUITY EQUITY 51491. 1806k 1 1/14 11/14 • EQUITY S250k 06/25/14 PLB LLC (DE) Manager: JH Slm EQUITY WAN I I/14 Slm 12/24114 Debra Black LOAN 5450k 12/24/14 100% ARSP LLC (DE) Manager: Keith Fbx 100% • • Artspace LLC (DE) Formerly: AS Acq LLC Manager: Keith Fox To Artspace owners on behalf of AS Acq LLC and Parent Entities 4 LOANS SI I.53m (9/13-12/14) 99.9% KEY: 'Trustees BC, JH, RR Bents DRB, BEB, JMB, ASB, VRB "Trustees DRB, BC, JH, RR Berms BEB, JMB, ASB, VRB, DRB "'Trustees BC, JH, DRB, UST Admin Beam BEB, JMB, ASB, VRB 1997 GST EX Trust (NY)" Black Family Partners LP LOANS 513.35m (9;B - WW) Leon Black ..) REC 51k EQUITY 100% 11/14 V Ann LLC DE) Manager: LDB 0.1% PHAIDON GLOBAL LW (DE) Manager: JMWT LLC 99.9% 100% PHAIDON LLC (DE) Formerly: JMWT Mgr LLC Manager: JMWT LLC 0.1% 75% 100% \ $3 0t N14 Regan Arts LW (DE) Board of Mgrs: JMWT LLC, JR Judith Regan JMWT Acquisition LLP (UK) 100% JMWT Topco Limited (UK) 100% JMWT Midco Limited (UK) 100% JMWT Limited (UK) 100% Phaidon Press Limited (UK) Regan Media Inc. 25% LitKit LLC (DE) Board of Mips: JMWT LLC, JR Members: Phaidon Global, Phaidon LLC Manager: Phaidon LLC Directors: LDB, EA Directors: LDB, EA Directors: LDB, DRB, EA Directors: Key Execs, EA Phaidon Press Inc. MRL (UK) Phaidon Press GmbH (Germany) Phaidon Press Sarl (France) Phaidon Press Srl (Italy) Phaidon Press (Australia) Phaidon Press KK (Japan) EFTA01125923 3/19/2015 DRAFT Schedule A Artspace Acquisition Detail EQUITY S500k 84314 54.25m 8:14/11 Paul. Weiss Client Account EQUITY $4.75m 8/16/14 100% EQUITY S200k 11/13/14 PASI LLC (DE) Manager: BC 100% V AS HIdgs Ltd. (Bermuda) Mgr: PASI LLC Officer: EA 100% • ARSP LLC (DE) Manager: Keith Fox • 100% • Artspace LLC (DE) Formerly: AS Acq LLC Manager: Keith Fox EQUI ry 5250k 08/25/I4 To Artspace owners on behalf of AS Acq LLC and Parent Entities 3 EFTA01125924 PHAIDON GOVERNANCE STRUCTURE CHART 3/19/2015 DRAFT BEB 2011 s, • Trust*** , I ' JMB 2011 •i . Trust*" , Black Family 1997 TrustSt • (NY)°°t ," Decanted June 2014 80.59% 100% PASI LLC (DE) Manager BC 100% AS Holdings Ltd. (Bermuda) Manager: PASI I,IA' Officer EAEA 100% ARSP LLC (DE) Manager: Keith Fox 100% Artspace LLC (DE) Manager: Keith Fox (" ASB 2011 • s Trust'" „, VRB 2011 ♦t , Trust*" LDB 2011 LLC (DE) ."‘ ( Manager BC as of 6/14 • lam e*:.1kmher Managed #.1 • Purchased by APOI June 2014 C APOI Trust (NY)* 14.93% • 4.48% PLB LLC (DE) Manacer: JH 1997 GST EX Trust (NY)" KEY: "filiSICCS I kildik Managers/Officers 'Original Owner *BC, .111, RR ASB, V12B "ORB, BC, JH, RR In IA 1N1B.ASIL VIZI3. ORB *"BC, JII, DRB, UST Admin IIIIII.JMB. AXIS. VRI3 Leon Black 100% JMWT LLC DE) Manager: LOB 0.1% PHAIDON GLOBAL LLC (DE) Manager: JMWT LLC 99.9% 100% PHAIDON LLC (DE) Formerly:In/MT Mgr LLC Manager: JMWT LLC • ity 0.1% MWT Acquisition LLP (UK) 100% JMWT Topco Limited (UK) 100% JMWT Midco Limited (UK) 1000/0 JMWT Limited (UK) 100% Phaidon Press Limited (UK) I00% 75% Regan Arts LLC (DE) Board of Mgrs: RAW] LLC. JR Judith Regan Regan Media Inc. 25% LitKit LLC (DE) Board of Mgrs: JMWT LLC. JR Orig. Members: JMWT LLC—Leon Black PLB LLC — Debra Black Current Members: Phaidon Global, Phaidon LLC Managing Member: Phaidon LLC Directors: LDB, EA Directors: LDB, EA Directors: LDB, DRB, EA Directors: Key Execs, EA Phaidon Press Inc. MRL (UK) Phaidon Press GmbH (Germany) Phaidon Press Sail (France) Phaidon Press Srl (Italy) Phaidon Press (Australia) Phaidon Press KK (Japan) EFTA01125925