From: Ada Clapp To: Richard Joslin CC: Eileen Alexanderson , "Lawrence Delson , jeffrey E. <jeevacation®gmail.com> Subject: RE: LDB 2011 LLC Date: Thu, 14 Aug 2014 13:38:33 +0000 Rich--you are misreading my email. I was not inferring anything--just Hying to understand the status of the LLC valuation to complete the restructuring. I did not speak with Scott. He left me a voicemail. As you know, I already told him that you were responsible for valuations which is why I have not returned his call. Original Message From: Richard Joslin Sent: Thursday, August 14, 2014 9:25 AM To: Ada Clapp Cc: Eileen Alexanderson; Lawrence Delson jeffrey E. Subject: RE: LDB 2011 LLC To give you an another update - Scott and David were brought up to speed on Phaidon and since then the plan worked out with Empire was to have the Empire appraisal team work to finalize the half dozen valuations for BFP before starting on LDB 2011 LLC. Empire does not have bandwith to assign two teams to our account. The accounting group is gathering documentation and performing its valuation preliminaries on LDB 2011 LLC assets and the process developed has been strongly supported by Empire. Given that I am conversing daily with the Empire team and we are exchanging reports, I have a clear grasp of the status. Your last question seems to infer I am not organized or on top of this effort. I am not privy to your conversation with Scott and I would have preferred that you indicate to him that this was my responsibility and ask that he speak to me directly. I will speak to him today. Original Message From: Ada Clapp Sent: Thursday, August 14, 2014 8:50 AM To: Richard Joslin Cc: Eileen Alexanderson; Lawrence Delson ( 1 ) Subject: RE: LDB 2011 LLC Hi Rich, Scott left me a voicemail about this. I am not really sure I understand your response to his email. Who is reviewing the engagement letter-Alan? It sounded like Scott has moved forward with the valuation despite the lack of