From: "Jeffrey E." <jeevacation@gmail.com>
To: Melanie Spinella
Subject: Fwd: New Narrows
Date: Fri, 12 Sep 2014 15:09:41 +0000
Forwarded message
From: Ada Clapp <1
Date: Fri, Sep 12, 2014 at 10:05 AM
Subject: New Narrows
To: "jeffrey E." <jeevacation@gmail.com>
Hi Jeffrey,
We met with Barry Cohen yesterday and he was very positive about having the trusts invest their art and other
assets into the new Narrows LLC. I am about to send the term sheets and power point to the other trustees but
wanted to first confirm with you that the plan was still for the trusts to contribute their interests in Phaidon
(specifically PLB LLC). After the discussion about Phaidon at our last meeting, we are wondering if you
preference is now to keep ownership of Phaidon separate from the new Narrows. Please let me know.
In the meantime, I asked Alan to start drafting the documents. As soon as Leon decides what he will contribute
and what he will leave out of the new Narrows, we can have the entity valued and sell the managing member
interest to one of the trusts.
Thanks.
Ada Clapp
Elysium Management LLC
445 Park Avenue
Suite 1401
New York, New York 10022
Direct Dial:
Fax:
Emai
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