VIA E-MAIL Dear Mortimer: The CORE: journey began in 2001 and with your support, engagement and collaboration, together we have built a truly unique and private setting for the Club's members to work, relax and entertain. Since we opened the Club's doors in September 2005, CORE: has been dedicated to creating, curating and executing unique experiences for its members, providing the highest level of services, and fostering a community among innovative global leaders. We could not have achieved these successes without your unwavering commitment. Your Founding Membership provided CORE: with the opportunity to begin this journey, and your continued support has allowed us to keep true to our vision and mission. As CORE: enters its 10th year of operations, we seek to maintain our world-class standard of operations, as we seek to position the Club for national and international expansion for the benefit of our members. The Club's management and operations are more efficient and streamlined than ever, and many of our members have told us that the service levels and offerings to our membership have never been better. Nevertheless, there are certain legacy financial issues that the Club must resolve before we can accomplish our goals. We are writing to you today, as our valued Founding Members, to ask for your participation in the restructure of the Club's current debt and lease obligations, to inform you of the revised Founding Member discount program, and to explain why this is all necessary. After consulting with various tax, financial and legal experts, we have determined that it is in the best interests of CORE: and its members to implement the changes outlined in this letter. As always, we encourage you to consult with your own legal and tax advisors regarding the implications to you of the matters outlined in this letter. We must all work together to ensure the Club's continued success. Restructure of Debt and Lease Obligations You may recall th