From: Brad Wechsler To: [email protected] <[email protected]> Subject: Re: Re AP Investco Date: Wed, 03 Jun 2015 14:36:54 +0000 Will do; have phys rehab between 12 and 115 but will call after... From: Jeffrey E. [mailto:[email protected]] Sent: Wednesday, June 03, 2015 09:49 AM To: Brad Wechsler Subject: Re: Re AP Investco tried to call , will be free after 12 . pleae look at the org summary for the boat prepared by para legal. see if you can mke head or tails On Wed, Jun 3, 2015 at 9:33 AM, Brad Wechsler < wrote: Ada-can we discuss...want to find simple fast path. Let's talk in person. From: Ada Clapp [mailto Sent: Wednesday, June 03, 2015 09:18 AM To: Jeffrey E. <jeevacation(Wgmail.com> Cc: Alan S. Halperin Alexanderson Subject: RE: Re AP Investco Jeffrey— Brad Wechsler; Richard Joslin < ; Eileen If we have Leon open the accounts and give Brad a power of attorney we risk Brad having to register as an investment advisor. An alternative closer to this arrangement that would take advantage of the family office exception is for Leon to open the trading accounts and then enter into an investment advisory agreement with Elysium. Brad as CEO of Elysium could handle investments. Do you agree with this approach? Ada Clapp Chief Legal Officer Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 EFTA00642838