From: Brad Wechsler To: [email protected] Cc: [email protected] <jeevacation©gmail.com> Sent: Wednesday, December 3, 2014 8:21:18 PM Subject: Fw: Trust Loans to Phaidon Global I spoke to Jeffrey and as you and I discussed we all feel there is unnecessary "complexity" in what ada is setting out. Therefore, I would do the following: 1. Get the projections from keith and his cfo and judith and her cfo. 2. Have rich j test them for cogency as a service to the trust. (We can bill the trusts for admin services if we want.) 3. Have rich "consolidate" them. 4. Make the ceo's, cfo's available to the trustees for "diligence" if the trustees so desire. (Rich, eileen and I can participate on an administrative basis.) 5. Assuming trustee sign-off, the tees can functionally dictate the terms of the loan (demand note or bullet) and again, the office can run admin interference for them with paul, weiss to facilitate execution of the note. If we want to integrate apollo into the process in order to help rich in the dd AND jeffrey is ok with apollo helping (as per an earlier note) that's fine too. Also, please let ada know what our process will be. Thx, b -- Original Message From: Ada Clapp [mailt Sent: Tuesday, December To: Brad Wechsler; Eileen Alexanderson Subject: Trust Loans to Phaidon Global Hi Eileen and Brad, I understood from the Trustees meeting that we will need to move quickly to paper the loan to Phaidon Global should the Trustees agree to lend. I don't know Rich J.'s timing for getting the Trustees the information they requested (see his email below). However, in the interest of expediency, I wanted to discuss the process for getting the secured loan documentation that Richard Ressler requested in place. I am questioning the family office's role in assisting with the negotiation and preparation of the loan documentation. It seems to me that we cannot act on behalf of both the Trustees as Lender and Phaidon Global as borro