From: "Farkas, Andrew L." To: jeffrey E. <[email protected]> Subject: Re: Date: Sun, 12 Apr 2015 23:40:05 +0000 If one applied the same metrics to the proposed trasaction, that $65mm would be worth about $125mm if the newly create enterprise is remotely successful. Sent from my BlackBerry 10 smartphone. From: Sent: Sunday, April 12, 2015 7:21 PM To: jeffrey E. Subject: Re: PS for reference sake, if we had given you 10% of the promote on c-iii at inception, it would be worth approximately $65mm today. And note finally that this money would be coming out of my end. Sent from my BlackBerry 10 smartphone. From: Farkas, Andrew L Sent: Sunday, April 12, 2015 6:50 PM To: Jeffrey E. Subject: Re: So you need to tell me how to proceed with this, if at all. We are speaking with ADIA, Qatar, and a host of private equity firms. I would very much like to work with you but I'm not sure how address your request. Sent from my BlackBerry 10 smartphone. From: Farkas, Andrew L Sent: Sunday, April 12, 2015 6:34 PM To: jeffrey E. Subject: Re: Flying from la. Had no in-flight wifi. $100mm is going to be virtually impossible to do. We can pay 3% plus a participation in the promote of the new entity of 10% (i.e. 10% of whatever the promote ultimately is). The highest price we have ever paid for equity is 2%. No promote or anything else. Even goldman, Lazard etc only get 1.5% and in some cases that's over time. I'd get strung up by the bill ackmans, harvard university's, TIAA/CREFS and och zoffs of the world for paying $100mm. I've been thinking about it and made a bunch of calls. If that's inadequate I don't know what else to do. The above is already over 50% higher than anything previously paid. Sent from my BlackBerry 10 smartphone. From: jeffrey E. Sent: Sunday, April 12, 2015 5:50 PM To: Farkas, Andrew L. Subject: EFTA00691332