From: Richard Kahn
To: "jeffrey E." <jeevacationggmail.com>
Subject: Fwd: Termsheet
Date: Mon, 05 Jun 2017 20:24:56 +0000
Attachments: Discussion_Points_Oljun I 7.doex
Begin forwarded message:
From: <
Subject: Termsheet
Date: June 1, 2017 at 9:10:52 PM EDT
To: Richard Kahn , Darren lndyke <
Hi Guys
Please find attached the term sheet.
There are two things of note:
• The loan of $1MM is effectively - $820,000 when you consider the annual interest payments. Jeffrey originally
said I can borrow the interest. So I put the size of the loan as [($1MM) + ($1MM) x (APR rate at time of loan) x (9))
which equals —$1,180,000. The - $180,000 will get paid back leaving the net amount of $1MM.
• In order to ensure that Jeffrey is always paying an advisory fee even when I get new clients in, I would like to
propose that Jeffrey gets re-imbursed up to a cap of $400,000 (not the $500,000 as originally discussed). This
means I can, at a minimum, point to $100,000 fee income from JE and we don't need to alter fee payments to fit
the different calendar years.
I am around tomorrow if you would like to follow up.
Thanks
Paul
Paul Barrett
EFTA01044461