From: Jeffrey Epstein <jeevacationggmail.com> To: Steven Sinofsky <=l Subject: Re: grant vesting Date: Mon, 10 Jun 2013 07:50:46 +0000 Good try re vesting schedule , you get an A for effort . I'll talk to you re hedging On Monday, June 10, 2013, Steven Sinofsky wrote: NOTE: The payment date is 15 days after the vest date, not at agreement -- it means I do need to hedge the whole thing because the earnings call for this quarter happens before Sept 15. Can you tell me what to buy in order to hedge this? I think that will be important, certainly in the immediate term. There is one grant that I only get 50% of -- does it vest over the same length of time as the original grant (that is 50% each vesting period through the original 8/31/16) or does it vest until 50% of the shares are vested (meaning it completes vesting in 2014). The original schedule: Date Shares Grant ft 8/31/2013 55'1591299375 8/31/2014 55'1591299375 8/31/2015 55'1591299375 8/31/2016 55'1591299375 220,636 This is the grant called out specifically as #0( Otherwise the full amount is as follows assuming vesting at 50% for a long time (pretax at $35). est Date Shares Pretax Grant * 8/31/2013 7,696 $269,360 811105 8/31/2013 56,681 $1,983,835 1087120 8/31/2013 47,368 $1,657,880 1180497 8/31/2013 49,643 $1,737,505 1299366 8/31/2013 27,580 $965,283 1299375 8/31/2014 47,369 $1,657,915 1180497 8/31/2014 49,643 $1,737,505 1299366 8/31/2014 27,580 $965,283 1299375 8/31/2015 49,644 $1,737,540 1299366 8/31/2015 27,580 $965,283 1299375 8/31/2016 27,580 $965,283 1299375 418,362 $14,642,670 EFTA00962093