EFTA00988352.pdf

From: Jeffrey Epstein <jeevacation®gmail.com> To: Eileen Alexanderson Subject: Re: Were taxes included? Date: Fri, 25 Apr 2014 17:51:42 +0000 please make sure jpm organ acct doe are signed On Fri, Apr 25, 2014 at 1:49 PM, Eileen Alexanderson wrote: Jeffrey, what I sent you earlier was in response to your request for 'cash balances through October' and reflects only 'cash in' except for the planned credit line repay. I want to point out that there is annuity payment on Dec 3rd also before yr end. Please look at pg 2 of the attached I had sent you previously which incorporates payments to be made including est tax payments in June and Sept of $25mi1 each, charitable commitments, and professional fees at level I understood needed to be paid this year. Available to speak starting at 2 if you have further questions. Eileen Sent from my iPhone Begin forwarded message: From: "Eileen Alexanderson" To: ' Subject: Fwd: CF Sent from my iPhone Begin forwarded message: > tt From: " <mailto <mailto >> To: "jeevacation®gmail.com<mailto:jeevacation@gmail.com>" <jeevacation@gmail.com<mailto:jeevacation@gmail.com>>, "Eileen Alexanderson" mailto: Subject: CF Page I of the attached is a summary of the cash movement this past week as we lined up for the 4/15 tax payment and a roll forward through the GRAT 1 annuity payment to be made next Thursday and then on to the annuity from GRAT2 on June 3rd. I have bolded the progression of cash balances in Black Family Partners and in Leon's accounts. $10mil fee which will be paid on 4/25 is not included-please give guidance as to whether this one should be paid from BFP or by LB. GRAT I annuity on Thursday is $109mil, $56 will be paid in cash. GRAT 2 annuity on June 3rd is $90mi1, $53.3mi1 will be paid in cash. GRAT 3 pays its first annuity the same day, we need completion of the valuation to know the annuity amount (which we should have soon) but $8.7mi1 will be paid in cash. Page 2 is a rough cut on cash-flow to Leon in the 2H14. My table says May and Nov div-should say Aug and Nov div. Full year BRH projection I was given was for $285mi1.I used the $120mil div amount for these two payments because IQ and 4Q always tend to be larger than the Aug and Nov distributions. CoInvest income EFTA00988352  last year was $100mil reflecting heavy monetization activity within the Apollo funds, I used $50mi1 this yea but need to check for guidance on this. Ownership of the BFP interests obviously moves around between Leon and the various GRATs but 80% of the cash that comes in will flow to Leon through the annuity payments and interests he personally owns. Page 3 shows location of the cash balances near term. As I mentioned when we spoke yesterday, now that we are making distributions from BFP to the trusts and due to the note cleanups we did at yearend, investable cash balances in the trusts are sizable. Remember, decanting of the 1997 Trust into the APO2 Trust will soon to be completed and cash shown on the table will move there. Also, we are in the process of getting the valuations done for the LDB 201 LLC restructuring and the BFP interests (held in a new LLC) will be owned in the APOI Trust. Bank account in Leon's name at DB is open, brokerage account will be functional this coming week. JPM forms came back to me from Leon unsigned, once signed, I can open up an account in Leon's name there but I do already have a Black Family Partners brokerage account at JPM. Looking ahead, if we want to continue to diversify our banking relationships, it will probably make sense to open the addl accounts in the names of APO I and APO2 trusts but remember these are holding places just until we are ready to go with the Heritage Trust. Page 4 is my asset summary updated thru 4/16 to facilitate your discussion with Leon. I have one more bit of info to give Rich D which I will do this week, Rich J will then review financial statements and we will send on to you. Re insurances- Debra and Peggy worked hard to get the jewelry schedule in shape. Peggy said she would be back to me on Monday with it. Renewal on that policy comes up this week. Rich J and I have a call on Monday mom with the AIG guys re the art insurance. Since they failed to make their case when they presented, plan is for us to have deeper discussions with them and then come back to you with conviction on how to proceed by the end of this coming week. Re bank loan redo- just need the go from Leon and I will proceed to speak to Derek (Jane's loan guy) on restructuring. I can get the process going by saying we want to restructure part of it but Question I need answered-are we keeping the credit line at the current size with B of A or splitting with another institution as we do this? Have to come back to you re the airplane after checking with Rich-he is the point person most current on this. Phaidon-I have been offloading to CEO and CFO now that they are on board but spent time this week on the "Structure" issue which needs to be a shared responsibility between the CFO and me b/c of the implications for the family entities who are the owners. If you are in town early this week it would be helpful to walk you through where we are, where I think we are going. We are closed for Good Friday, available on cell 917-226-5602 today and tomorrow, have a houseful coming for dinner on Sunday. Best, Eileen please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for EFTA00988353 the use of the addressee. It is the property of Jeffrey Epstein 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 EFTA00988354