From: Ada Clapp To: jeffrey E. <[email protected]>, Melanie Spinella CC: Eileen Alexanderson , Eileen Alexanderson Subject: RE: East 70th Street townhouse purchase Date: Thu, 03 Jul 2014 12:59:00 +0000 > Good morning Jeffrey, I am getting calls and emails from the Trustees asking for more discussion. I tried to persuade them early on to go the single life interest route. However, they want to be sure they are doing their duty as Trustees and fully exploring a structure that could save the Trust roughly $4.5 million. They are initiating the dialog and I am responding to help them get comfortable with what is ultimately their decision. Would you like for me to arrange a call with you and them? Ada Clapp Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. From: Jeffrey E. [mailto:[email protected]] Sent: Wednesday, July 02, 2014 10:41 PM To: Ada Clapp; Melanie Spinella Subject: Re: East 70th Street townhouse purchase Not sure why you are still discussing this after I have said single life multiple times On Tuesday, July 1, 2014, Ada Clapp < wrote: Dear Barry, Richard and John, As you know, the discretionary trust under the APOI Agreement (the "Trust") created the NY 70th Street LLC (the "LLC") and the LLC intends to enter into a split interest purchase of a residence. Attached for your reference is a Paul Weiss overview of the technique. To assist with the decision as to whether the LLC's remainder interest will vest upon Leon's death or upon