EFTA02517334.pdf

From: Ada Clapp < Sent: Friday, October 17, 2014 1:29 PM To: jeffrey E. Subject: RE: FW: Promissory Notes Required Sorry but I don't understand your answer. Do you mean: * Note from Leon to LDB 2011 LLC for $2,903,392.0O should have a 3 year term with interest at .38%, interest to be paid annually? • Note from BFP to Leon for $10,400,00O should have a 9-year term with interest at 2.2%, interest to be paid annually? Thanks. Ada Clapp Chief Legal Officer Elysium Management LLC Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: <mailto This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. EFTA_R1_01652569 EFTA02517334 From: jeffrey E. [mailto:jeevacation@gmail.com] Sent: Friday, October 17, 2014 9:10 AM To: Ada Clapp Subject: Re: FW: Promissory Notes Required ok to both On Fri, Oct 17, 2014 at 9:03 AM, Ada Clapp < <mailto » wrote: Hi Jeffrey, I received the below email from Rich D. Please let me know: what interest rate you would like to use for each note; (ii) whether interest will be paid annually or whether unpaid accrued interest will be added to principal each year and paid at the end of the term; and (iii) what the term of each note should be. Thanks. From: Richard O'Agostino Sent: Friday, October 10, 2014 5:50 PM To: Ada Clapp Cc: Eileen Alexanderson; Richard Joslin Subject: Promissory Notes Required Ada, Your assistance in drafting promissory notes is required. Below are the transactions for the notes needed: I. On October 2, 2014, LDB 2011 LLC sold various public stocks [schedule below) to Leon Black, consideration for which will be in the form of a note from Leon. For valuation purposes, closing prices on October 2 2 EFTA_R1_01652570 EFTA02517335 were used. To be consistent with prior practice, and unless you disagree, I suggest using the IRS provided Applicable Federal Rate ("AFR") for October for a short-term period (3 years). II. A note was never created on April 28, 2014 with respect to a $10,400,000 borrowing by Black Family Partners LP from Leon Black. At the time, it was decided by JEE that the 7520 rate for the month, 2.20%, would be used rather than the AFR for a mid-term period. I suggest using the farthest range in the mid-term range which is 9 years unless you feel otherwise. Let me know if you require any other information. Thank you in advance for your help. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 3 EFTA_R1_01652571 EFTA02517336