HOUSE OVERSIGHT 023262 in June and then again Sept, we both agreed to a 50% of phaidon payout first projected at 20 . but less when artspace and debt taken out, - then only after weeks, when you delayed any detailed discussion of money wanting to give the issue a thoughtful response ( which I fully understand ) . you unilaterally changed our agreement. . 5m would be reserved for the future ? . and out of the remaining 15m,? i would receive only a third. ( note : I'm confident that both the debt, and the art space investment will also lead to a write- off of another 30 m. plus ) In my dining room ,you were surprised when I said that i require most people to pay their advisory fee up front so that I am assured that I will be properly compensated for my work when strategies are implemented. you may recall that you appeared offended and said " are you suggesting that i would go back on my word" I said no, of course not ! you are my closest of friends ,but my experience is that when amounts get large, people tend to get unhappy when it actually comes time for them to pay. I include below the email i sent to you on April 15, the day i was examining your returns It laid out my understanding of the compensation agreed for a transaction of the magnitude to the penny of the one just completed.ie 600m When it appeared that the transcation would and could go foward I was the first to point out that our agreement would cost you too much money, therefore From day one I proposed to discount our agreement to a 50 - 60 million range. An extremely fair price for all the transactions just completed. including Phaidon. - I was never told that this was out of range. in fact, alternative methods of payment. ie my plane, or an -in-kind payment were discussed ( ie including keeping the 30m portion of the fee outstanding till March ) ,I provided, only because you specifically requested a detailed step by step execution plan and reviewed all documents that i was given ac