EFTA00624761.pdf

Leon , I was hoping to have seen you before I left. As you no longer respond to my question marks . Do I sense discomfort? If so, Im very sorry , just come visit ! , no business just fun. You and I need more play. Florida? Paris? If I understood correctly, you would like to be weaned off as soon as possible ,my daily involvement in your family office. ME too . I am well aware that it has been a hell of a few months. Gigi will hopefully move into the past and your concern and care for your sisters future will take its course. I have said it before . but I think you have behaved as well as a brother could given the circumstances. Re office\ I hope now that your oft- voiced concern re " value" has been once and for all laid to rest. It is quite apparent that the time that Darren and I personally spent drafting your Picasso contract during his vacation ,will prove itself very useful. (on another note , you said that you and Larry were talking about the Picasso sculpture for months before April, the same exact time that it was also being sold to Jassim. I thought it odd that Larry only wanted to be an agent with no liability, rather than his normal . True, it could have been due to payment terms , but.. we shall see. If possible I would like to use the 85 m that larry has , at the moment owed to you, even if only for a week. Maybe he puts up a Letter of credit as a guarantee I'm sure his credit line is substantial. Can we get the family office plan , payment , weaning, resolved. Everyone in the office is working towards my new structure , without the necessary details that need to be filled in. ie. which entities borrow, pay, paths, how, these colors are all critical to the financial mosaic. In order to move things between you and I along, I am willing to rely on, your, memory, since you have pointed out that you may consider, mine , selective. That being said, My recollection is that since oct 2014 from square one I suggested my fee of 40m. for 2015 , and after 8 months of mutual torture, you offered to pay 10m plus 50 percent of phaidon and then upped it to a guarantee of a minimum of and additional 20. Then you said you would make payment of 15 and I should be happy at 35m ie 20 to come.. I agreed. We talked about fixed vs a percentage of savings moving forward. I said if you preferred to pay less than my full fixed fee but wanted some to be on contingency, ie phaidon. I thought then 50% on all moving forward and, you said I thought we agreed in the past on 33%. And I said ok , but the numbers will be large and you won't want to pay it and It will make you unhappy. So,- Here we are .! I would ask that you clarify, what you expect of me and my team, moving forward . the more specificity the better. Have no fear, I do not want you unhappy. I want to be fair as I know you do. I think the fair thing is for you to pay amount still owed for EFTA00624761 2015, and only the same fixed 40 for next Or you can finance the fee by creating a new airplane co, borrow against the new plane. ? at 1 .25 % and get all the depreciation.? Either way - You will be way , way, ahead no matter how you calculate it and for the following years 2017 - . we can agree that you either pay 2 m per year, ( airplane co the best idea ) and if you choose after care . the 2m fixed rate is for as long as you like or pay ZERO ! and we are done and you are weaned. You have 10 people doing the job of 5 . Brad needs very clear direction, Boat- plane, should be this year. ! - art transfers . the sale of stock, art , no more blown 1031s. , valuations ?! redone , and many other points on the constructive list, we have reviewed . Trading accounts ? cash mgmt..estate re-thought,( two wheels, with hub -one of them a dynasty, structure the other not ) Renew and refresh your will, remove sister mother, rethink trustees, hellman etc. collection, ( do books stay together?) unforeseen attacks on the estate? / You and I are very close. I don't have many closer . There are many more challenges ahead. I would greatly appreciate getting your thoughts and proposed resolution . I am aware that you have other things on your mind , sorry. However Some things are quite time sensitive and many many steps need clarification for things to work in the future. We can do a call when you like EFTA00624762