EFTA00624763.pdf

Leon , I was hoping to have seen you last week Do I sense a discomfort? If so, Im sorry come visit ! , no business just fun. You and I need more play. Florida? Paris? If I understand correctly , you would like to be more in control of your family office. Partially in order to be weaned off me ®. I am well aware that it has been a hell of a few months. Gigi will move into the past and your concern and care for your sisters future is admirable. I said it before I think you have behaved as well as a brother could. Re office\ I hope now that your oft- voiced concern re " value" has been once and for all been laid to rest. It is obvious that the time that Darren and I personally spent doing your Picasso contract during his vacation will prove itself very useful, on another note , you said that you and larry were talking about the piece for months before April, the same exact time that it was being sold to Jassim. I thought it odd that larry only wanted to be an agent with no liability, rather than his normal . )could have been due to payment terms ). I would like to use the 85 m that larry has , if only for a week Maybe he puts up a Letter of credit as guarantee Im sure his credit line is substantial. Can we get the family office plan , payment , weaning, resolved. In order to move it along I am willing to rely on your, memory, since you have pointed out that you consider mine , selective. That being said, My recollection is that since oct 2014 from square one I suggested my fee of 40m. for 2015 , after 8 months of mutual torture, you offered to pay 10m plus 50 percent of phaidon and then upped it to a guarantee of minimum of 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 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 50% , you said I think 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 have no intention of holding you to your word and our deal. I think the fair thing is for you to pay amount still owed for 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 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 ZERO ! and we are done and you are weaned. EFTA00624763 Brad needs 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 our constructive list Trading accounts ? cash mgmt.estate re-thought , two wheels, One of them a dynasty, structure the other not. Renew and refresh your will, remove sister mother, rethink trustees hellman etc. You and I are very close. There are many more challenges ahead. I would greatly appreciate getting your thoughts and proposed resolution. Some things are quite time sensitive. EFTA00624764