EFTA00691372.txt

"you would be removed as a Managing Director of Elysium and instead be appointed as an officer with day-to-day operating authority."

"Elysium Management LLC, rather than Leon should be the sole member of AP Investco."

"Alan will go ahead and draft a very simple LLC agreement as well as the documentation need to accomplish 2 above."

"Leon would be the sole Member and Managing Director."

"I assume loon owns 100% of elysium? Leon would be the sole Member and Managing Director."

"I spoke this morning with Alan and Marco Masotti Head of Paul Weiss's Private Investment Funds group... They propose the following tweaks"

"Philip Heimowitz, counsel who specializes in 34 Act and 40 Act issues... They propose the following tweaks"

"Critical point is that this comports with jeffrey's desires/goals for tax reporting."