EFTA00639029.txt

"From: Heather Gray To: jeffrey E. <[email protected]> Subject: RE: Picasso agreement - question Date: Fri, 01 May 2015"

"From: jeffrey E. [mailtoleevacation@gmailcom] Sent: Friday, May 01, 2015 12:44 PM To: Heather Gray"

"Heather Gray Elysium Management LLC 445 Park Avenue"

"Gagosian is signing and sending it to Leon for signature now... Larry is concerned that we might assign to the Black kids"

"assign the agreement to any one among Leon, Debra, the kids"

"Gagosian is signing and sending it to Leon for signature now."

"Narrows/AP Narrows (really, Leon's) agreeing to effectively guarantee payment"

"Narrows/AP Narrows (really, Leon's) agreeing to effectively guarantee payment"

"family trusts including APOI and APO2... trusts as partners in AP Narrows"

"family trusts including APOI and APO2... trusts as partners in AP Narrows"

"Alan agreed that there could be deemed to be a potential gift from Leon to APO1/APO2 if Leon provides a guarantee... Alan suggested mitigating this ri"