Message: Maxwell: Revised Proposal, Sent (EFTA00236186)

Message From: Sent: To: CC: Casriel, Lyle I 7/9/2014 9:17:36 PM Garcia, Camille I; Klein, Matthew I I; Ramdeen, Vijai I; Shkreli, Juliana ; Stackman, Scott I Waldron, Chelsey Devon [ Subject: Maxwell: Revised Proposal Attachments: Maxwell Proposal_7.9.14.pdf Ghislaine, Per your recent exchange with Scott we have made some updates to the proposal. Based on your feedback our objectives here were to: 1. Trim equities 2. Remove Millennium from the portfolio 3. Limited to no tax Impact Our objectives for your portfolio are still to free up capital with no/limited tax impact to improve diversification into the strategies we prefer and clean up the "orphaned" mutual fund positions by making larger investments in higher conviction ideas. In order to achieve both objectives we reviewed the equity positions with unrealized losses. Those are listed below. Some are still rated as buys, but we felt that harvesting losses provided two opportunities: • Allow greater reba