From: jeffrey E. <[email protected]> Sent: Sunday, May 1, 2016 3:31 PM To: Halperin, Alan S Subject: Re: found the numbers in exhibit D On Sun, May 1, 2016 at 10:43 AM, Ha=perin, Alan S wrote: The Empire Valuation reflects both internal and external valuation discount.. The internal discounts, as you know, reflect discounts to deal with the =ack of marketability, with respect to the underlying assets. The external = iscount relates to the BFP wrap. Alan S. Halperin I Partner rom: jeffrey t. Sent: Sunday, May 1, 2016 10:40 AM To: Halperin, Alan S Subject: Re: joslin On Sun, May 1, 2016 at 10:37 AM, Halperin, Alan = wrote: Who is he? Alan S. Halperin I Partner 11111111111 chttp://www.paulweiss.com> From: jeffrey E. Sent: Sunday, May 1, 2016 10:33 AM To: Halperin, Alan S Subject: what discount is he referring to ? > EFTA_R1_01569798 EFTA02462977