From: Ada Clapp domplignejomem To: Jeffrey E. <jeevacation mail.com> Cc: Heather Gray Subject: RE: Next week's Trustees meeting Sent: Tuesday, November 4, 2014 3:11:53 PM My understanding was that Eileen and Larry had discussed these meetings with you and in particular, the deliverables we will provide to the Trustees. When we met with Barry on September 11th, he asked that we organize bimonthly (every other month) Trustees' meetings. The goal is to ensure that all Trustees have the most current information regarding trust investments and other activities. The agenda for these meetings is to include any transactions or matters under present consideration by the Trustees, an update on the Trust's art investment portfolio (purchases and sales) and any other topics the Trustees may wish to discuss. Following our September 11 meeting with Barry—he sent the below email: "Thanks for today. Very helpful. Here is a partial list of takeaways from today's meeting: Rich J to deliver the following reports • Dashboard (quarterly) • Art inventory (quarterly), starting next week, even if not everything is cleaned up. • Unrealized gain or loss on art investments, if it's not already included in the inventory (annually) • ITD (or as historically as possible) track record on realizations (annually) • Art portfolio valuation trends (annually) • Trust cash projections (monthly) • Excel versions of the family entities chart (now and whenever revised) Ada and Eileen to consider what expense and resource sharing is appropriate between trusts and Elysium" We understood from Eileen that you were discussing with Barry which of these items Rich.' would be providing to the Trustees. I tried to ascertain from Rich J. but he was not forthcoming. I am growing concerned that we will show up to this meeting unprepared and that the Trustees will not be happy that we have not provided the information they are expecting. I think it is best to get ahead of their