From: Jeffrey Epstein <jeevacation@gmail.com>

From: Jeffrey Epstein <jeevacation@gmail.com> To: Eileen Alexanderson Subject: tax treatment?? Date: Sat, 07 Jul 2012 12:59:43 +0000 Name Reason for I:maimmeat lerntinAlion (S) Estimated Value or Equity Acceleration C5) Leon Black Cause; executive's resignation — 96,650,718(4) Death, disability — 193,301,436(4) Gene Donnelly Without cause; by executive for good reason 500,000(1) 3,087,453(5) Death, disability — 3,087,453(5) Joseph Axrack Without cause; by executive for good reason — 6,033,668(5) Death, disability — 3,016,834(5) Henry Silverman By the Company Disability Death Actual resignation effective March 15, 2012 7,000,000(2)7,000,000(2) — 2,416,667(3) 3,447,225(5) 1,723,613(5) 1,723,613(5) John Suydam Without cause; by executive for good reason; death, disability — 2,035,389(5) (I) This amount would have been payable to Mr. Donnelly had his employment been terminated by the company without cause (and other than by reason of death or disability) or for good reason on December 31, 2011. (2) This amount would have been payable to Mr. Silverman had his employment been terminated by the company on December 31, 2011. (3) This amount became payable to Mr. Silverman in connection with his actual resignation from employment effective March 15, 2012. This amount represents the additional equity vesting that Mr. Black would have received had his employment terminated in the circumstances described in the column, "Reason for Employment 273 (4) Table of Contents Termination," on December 31, 2011, based on the closing price of a Class A share on such date. In the event of Mr. Black's termination by reason of death or disability, his pecuniary interest in Apollo Operating Group units would vest in full. Pursuant to his employment agreement, Mr. Black's employment is not subject to termination by the company without cause. EFTA00938754 The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00938755