Text extracted via OCR from the original document. May contain errors from the scanning process.
that needs to be done youandI will hire new people , and it will be self running. ( it was may in my house
when you told brad it had been 5 months and you were getting fed up ) I will set up a parallel . office , somenoe
like wendy dolman or her quality is paramount. two accountants two bookeepers and two office
admins. . alan and zoe will handle trusts and grats. heatehr diana george will be incolved in art partnership. if
you want brad, analysts etc. and kids to do investments I have little to add in that regard ,except to be able to
account for things properly. I suggest that the kids must have skin in any deal.
Alternatively , we can continue to focus on fun and let someone else do the things that you want done. and
you and I can kibbitz about it all. structures outcomes risk, museums. charity, ( joslins answer by the way
was I had asked how much charity was leon planining to give this year , (the 2m) he didnt include your
foundation or the payment to me, or from debra and you??!!
1 fees, amount and to what entities when and responsiblitis. 2. gagosian idea to save a minimum of 10
mill and maybe more. 3. ican walk you through carlyns screw up, 50 % would have made little difference
and maybe made it worse . 4. we should have an all hands meeting with your family to talk about art
distribution on death. . 5. phaidon, decantings ( already firmly in progress ) loans. (alan ) pent. ( with
follow up ) all part of same elegant transaction, 6 asymetric risk worth at least 50- 60 no matter how you
calculate. Ican explain. 7 lets get the money issue out of the way once and for all. I have my team set to
start.
Subject:
1) pg 1 A” unequal shares". pg 23 "removal of trustees " absolute. dont be confused with abiltiy to set up
seperate trusts, , 2) I am reachable this afternoon in europe. on cell. 3. on another note . -our financial
agreement ended months ago . seperate from the art partnership (which 1 was told yesterday to my
amazement is still not funded) . 1am obligated to complete ? the time 1 have dedicated since oct/ dec has
been spent mainly as your friend. tom, brad though i am fully cognizant of my responsiblities. I will try to
help find people. Iam not good at human resources. howevr If I don;t think they are good enough for you. I
will continue to say so , and you obviously decide. but I will reiterrate even in the face of your "nobody is
good enough argument." keeping foremost in my mind that you and I have only beeen shown a very tiny
handful of people. 4. I find the friction over fees , counterproductive. in an attempt to avoid it I had
suggested a multi year deal early on. you rejected it. I then suggested, and urged you to have an option at a
fixed fee , you also rejected that .you wanted the fee payment only at the end I argued but ,conceded. I
suggested a structure that tom didn't like. you rejected it. 5 I suggest you make a fair proposal.- that 1 can
either accept or reject. some payment up front this time is a requirement. I am willing to modify any outstanding
obligations. - there are creative ways to assure you of your desired characterization of those payments. 6 you
should open accts at Deutsh . and goldman. I am told that eilleen has set up over one hundred bank acccts for
you???!!. few relevant 7 you should immediatly demand a list of all her acct authorites , exec poistions
. director etc. bank authorizsations. etc. talk later or over the weekend if you like
Subject:
Mark was here this morning , the proposed transactions are extremely complex . and would take a great deal
of detailed time. I do not know how, and if ,to move forward - our last transaction. a transaction which you
saved 600 million in tax. even if 20 years away ,( ihope longer) even discounted is a 300 million
savings . for that you ignored our agreements , verbal written and emailed -and decided that it was only
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