From: "Farkas, Andrew L." c To: Jeffrey E. <jeeyacation@gmailcom> Subject: Re: Sent Sunday, April 12, 2015 10:34:54 PM Flying from la. Had no in-flight wifi. $100mm is going to be virtually impossible to do. We can pay 3% plus a participation in the promote of the new entity of 10% (i.e. 10% of whatever the promote ultimately is). The highest price we have ever paid for equity is 2%. No promote or anything else. Even goldman, Lazard etc only get 1.5% and in some cases that's over time. I'd get strung up by the bill ackmans, harvard university's, TIAA/CREFS and och zoffs of the world for paying $100mm. I've been thinking about it and made a bunch of calls. If that's inadequate I don't know what else to do. The above is already over 50% higher than anything previously paid. Sent from my BlackBerry 10 smartphone. From: Jeffrey E. Sent: Sunday, April 12, 2015 5:50 PM To: Farkas, Andrew L. Subject: 9') 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 jecvacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved This message, and any attachments hereto, is confidential and intended exclusively for the use of the individual or entity to whom it is addressed. This communication may contain information that is confidential, proprietary, privileged, subject to a confidentiality and/or non-disclosure agreement, or otherwise exempt or protected from disclosure (either by contract or under EFTA_R1_00039626 EFTA01746191 applicable law). If you are not the intended recipient, you are hereby notified that printing, retaining, reproducing, copying, disclosing, disseminating or using this message or any information contained herein (including any reliance thereon) is strictly prohibited. If you have received this message in error, please contact the sender immediately and destroy the message (including any attachments) and any copies in their entirety, whether in electronic or hard copy format. Nothing contained in this e-mail shall be considered a legally binding agreement, amendment or modification of any agreement with Island Capital Group LLC or any of its affiliates, each of which requires a fully executed agreement to be received by Island Capital Group LLC or such affiliate. EFTA_R1_00039627 EFTA01746192