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can do it. I will have no real further involvement apart from confirming the outcome of my proposed structure, I will not risk the admonition of- they thought you said, they thought you meant, they understood it to be. but they said you said, (ie,] asked at our meeting that accounting be done properly for bens house , what came back was ada thought that I meant that we needed to go back to the 97 trust and give him a full third party accounting of where his money had gone??!! I kid you not). I dont think brad should talk to jane heller without a fully fleshed out plan in place and even then it should be you. Date: Mon, Nov 30, 2015 at 11:21 AM Subject: agenda To: Melanie Spinellal 1 fees, amount and to what entities when and responsiblitis. 2. gagosian idea to save a minimum of 10 mill and maybe more. 3. ican walk you through carlyns screw up, 50 % would have made little difference and maybe made it worse. 4. we should have an all hands meeting with your family to talk about art distribution on death. . 5. phaidon, decantings ( already firmly in progress ) loans. (alan ) pent. ( with follow up ) all part of same elegant transaction, 6 asymetric risk worth at least 50- 60 no matter how you calculate. Ican explain. 7 lets get the money issue out of the way once and for all. I have my team set to start. Date: Fri, Dec 4, 2015 at 8:07 AM Subject: Fwd: moving forward To: Melanie Spinella Thad forgotten that Alan was actually at the table when i explained my note deal to you. _it was at the end of the meeting described below. . as you will recall , not once , not even a peep did alan suggest contemporaneously his hand in the crafting, in fact brad said it was an idea. that HE brad, HAD HAD, from the begiining . my emails between alan and I that you can read , further confirm authorship. Im sure you recall the obnoxious tooting when alan said he agreed with my plan. . Date: Mon, Nov 2, 2015 at 10:03 PM Subject: moving forward To: Melanie Spinclla 3 I I have mixed emotions about what transpired today. really, You saw first hand in nauseating detail what i have been saying to you for quite a while now. _Joslins answers were totally incomprehensible. the charts he prepared unreadable. Brads defensive posture was at a minum very surprising . He and I have recently gotten along quite well , thought. Neither Joslin or Brad understood a 180 million dollar number . no cash flow after weeks of requesting? odd. when you suggested that heathers behavior was emblematic of a sloppy office , brad said lets not talk about emblems??! bill pay , admittedly no change for the year. . plane not done. though it was the only thing i suggested doing first in july. . I sent you a list of 10 consultantts. brad said three, . 1 didnt want to push it. I was shocked that brad was opining on things he knows little or nothing about. tax issues. 1031. neg basis , note payoffs ( the same idea he said he had had from the beggining??!!) . answers re LBF holdings that can be corrected (they cant) . valuations that have never been read. . When we met in your lobby he seems surprised that 1 was there. I dont know if he felt somewhat sandbagged. .. the savings on the note payoff is aprrox 33 % of 1.8 billion. real money if you do phaidon which 1 see no reason not to . if later josh and ben want to buy it back with you or without you they can. i will walk you through the structure one on one. . the losses will offeset the calder gain as well as apollo gain. Im aware that seeing what you saw frustrated you. I felt badly for you. You wanted a contingent deal. real value. etc. I will not of course hold you to your deal .. its silly. its not how i work or a reflection of our friendship. my proposal is as follows. I want away from your buisiness , but at the same time leaving you in good shape. _ I think you should pay the 25m that you did not for this year. for next year its the same 40 m as always, paid 20 in jan and 20 in july, and then we are done. I will give you advice and counsel but new people will be running your operating machine. I will oversee all the work HOUSE_OVERSIGHT_023337