EFTA01000589.pdf

From: Richard Joslin To: jeffrey E. <jeevacation@gmail.com> CC: Eileen Alexanderson < >, lawrence delson Subject: Re: Date: Tue, 11 Nov 2014 13:51:40 +0000 I am not privy to comp numbers for anyone other than Ave and Aneta so I cannot be precise. EA can add color here. 401k specialist at Ambose has census data and he was running ACP and ADP (non discrimination tests) and running matching scenarios for 2015. IT costs currently $3,850 per month. Proposals are in range of $3,400 to 3,600 per month. There are to add on/ contingent costs on each proposal that I need to review to determine differences with our current provider, eg new server install charge, or imaging a new user computer, file backup costs. On Nov 11, 2014, at 8:35 AM, "jeffrey E." <jeevacation@gmail.com> wrote: providing percentage numbers for IT tells me NOTHING< how much ?? same with 401 k. dollars only , this is reallh silly On Tue, Nov 11, 2014 at 8:30 AM, Richard Joslin < > wrote: Additional specificity: Loser positions —AFP Imaging and Magnetek can be sold. There may be virtually worthless security held in LDB 2011 [Starter Corp.) that might be sold to claim tax loss this year Dartmouth contribution— sending checks for Leon to sign today From: Richard Joslin Sent: Tuesday, November 11, 2014 8:25 AM To: jeffrey E.; Eileen Alexanderson; lawrence delson Subject: RE: LRN shares (K 12 Inc). RD and I contacted transfer agent and now RD is working with KUE outside counsel to get shares quantities confirmed and re-issued if necessary. The transfer agent records do not match the amount we should have received (nor is the name on file the holder of record (LBF Holdings)) and transfer agent has not received insruction to deliver to broker. Once we get quantity and other transfer agent issues cleared up, we will mpve to broker and sell. RD is contacting outside counsel again today for follow up I rec'd the last of 3 IT outsource proposals yesterday. Second meetings with all concluded last week and EN LD included in second meeting. I will summarize differences and take one firm out of running (cost 3x). Plan was to discuss internally today/ tomorrow for final selection. Cost — 10% cheaper than current provider with same/ improved coverage. EFTA01000589 Foundation has been funded with appreciated stocks and these positions have been liquidated. There are 1648 shares of United Rentals that are restricted. RD is sending paperwork to LDB to sign today to clean these shares up. Once the paperwork is provided to broker and they release the restriction (move the shares to type 2 account) then transfer to Foundation will begin. There are a couple of loss positions worth < $3K that need to be sold. RD is to provide shares and ticker to EA today so that clearance/ compliance apporval can begin. I'd like to have the accounting group be invilved in this to gain familiarity with the Apollo compliance process. There is a worthless position that JPM will purchase for $1 to take off their books (Scienta is the name of the company - no longer on pink sheets or OTC BB) RD has paperwork for this for LDB to sign today. 401k - call with specialist yesterday with EA/RJ. To not have Julie be part of 401k, the thought is to begin plan Dec 1. Compensation would be one month and any employer contribution would be minimal given any contribution would be for rank and file on one month comp. Given that highly compensated is defined by prior year compensation, RJ and RD are not highly comped in 2013 and will help cure any low participation by rank and file for 2014 plan year. (Plan year is calender year) Top heavy rules should not be applicable given that FU and EA are only key employees and AC/RD are not, ie the key employee contributions will not exceed 60% of total plan contributions a/o 12/31/2014. For 2015, the 401k specialist is running numbers based on our census to see if we will have any issue either on the discrimination rules or the top heavy rules. Specialist indicated that matching can be made only for non-highly compensated and not fr highly compensation, For 2015, HG will not be highly compensated apparently as her stub comp is less than $115K. The more non-highly comped that participate, the better. 401k specialist is running some scenarios and costs under different matiching scenarios and will revert tomorrow (Tuesday is Ambrose holiday) Art list has been provided to LDB. Gating question is what is cost benefit of retaining more than 2x collateral - step up benefit of art retained in estate vs lesser value of art partnership leaving an unpaid note in hands of APOI (with a zero basis), ie capital gain by trust at death. This was the gist of the meeting with LDB /HG/RJ late Oct. HG has confirmed we can expand colateral list to 200+ names and go down the value scale to $200K per item. LDB OK with this. This was discussed in FO team meeting two weeks ago. From: jeffrey E. <jeevacation@gma il.com> Sent: Tuesday, November 11, 2014 5:31 AM To: Eileen Alexanderson; lawrence delson; Richard Joslin Subject: please tell me where we are , with specificity. KU shares. 401 k, IT contract. foundation sales and contributions of stock. , TIMBER ? list of art to be contributed to partnership. 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 EFTA01000590  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. and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA01000591