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first to point out that our agreement would cost you too much money, therefore
From day one I proposed to discount our agreement to a 50 - 60 million range. An extremely fair price
for all the transactions just completed . including Phaidon. - I was never told that this was out of
range. in fact, alternative methods of payment . ie my plane, or an -in-kind payment were discussed ( ie
including keeping the 30m portion of the fee outstanding till March ) ,I provided , only because you
specifically requested a detailed step by step execution plan and reviewed all documents that i was given
access to. ( Phaidon was never forthcoming ) in order to make my many corrections . ( as i said more
needed on phaidon ) . I was then told that Alans involvement warranted a discount . Even in the best
of light , though it is beyond question that not one time in the three years of his retainer has he ever
proposed a unique idea. (including any way to deal with the use issue on debras death ,or even the most
basic review of your largest asset by far , the BRH agreement. ) O.K. - lets say he made a contribution to
the plan and stretch reality beyond the pale and say it was 50 %. though no one could posit such a large
amount unless they were wearing a clown suit. , the payment and our formula of 37 percent associated
with the deal was known . It had both sent in writing and spoken about on the phone numerous times ,
a detailed execution plan was provided . then and only then, after the entire transaction was laid out for
the group to follow You told me that after a number of conversations with brad karp that a total of only
20m would be paid , (and even that was more than you originally contemplated ) for both transactions .
Leon I feel It was remarkably unfair. Did brad even knew of our prior agreements.? ?, I would ask that
you I and Brad karp sit together if you think it would be helpful. . I would like to send him this email, with
your consent of course. If the transactions were never consummated , i would not be owed a dime,
however , the expected fee was known up front. , the detailed step by step plan was followed and
overseen by me, the amount that I had requested before the transaction had even begun, had already
been heavily discounted, out of friendship, . I believe the decision re only paying 20 m has frankly , left
me felling quite uneasy. and colors the view about the Athene or Rothschild transaction.
Date: Wed, Jan 6, 2016 at 12:44 PM
Subject: Fwd:
To: Jeffrey Epstein
PLEASE READ CAREFULLY ,
In the spirit in which it is sent. our friendship is intact and solid , though ,it has taken a hit.
Mark was here this morning , the proposed transactions are extremely complex . and would take a
great deal of my detailed time. I do not know how, and even, if ,to move forward - . After months of
hearing that you would have no problem paying a large fee if you could only ascertain value. The last
transaction. a transaction which you saved over 600 million in tax. declared bullet proof by your attnys,
and even if you want to disoccount for its future realization, creating a savings of over 300 million real
dollars. For some reason you chose to ignore our agreements , verbal written and emailed -and at the
very last minute , after the deal was complete decided that it was only worth 8 million dollars to you and
your family. . ( assuming phaidon -richard happens. there is a 24 m savings not including artspace and
debt write down benefits- certain to come later .. IMPORTANT NOTE
: the phaidon transaction as currently contemplated will not work . WILL NOT !!

When we had our meeting in your home in Bedford. You asked me for my help. I told you multiple
times that i thought it was a very bad idea, in that I greatly preferred to have no financial interactions. I
don't have many friends and didn't want money in any way to interfere with our unique relationship.
Reminder , For five years you had the kind, but very goofy Eileen Alexandersson as the sole manager of
your massive accounting , legal, investments. reporting, trusts etc. When I first told you in no uncertain
terms that I firmly believed she was incompetent you admonished me for " speaking out of both sides of
my mouth " . With regard Brad Wechsler , there has never been a " both sides. ". I have consistantly
maintained since day one that he was highly unsuited for the job. When you initially asked me to help

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