EFTA01851693.pdf

To: Jeffrey [email protected]] From: Mortimer Zuckerman Sent Sun 7/27/2014 4:50:10 PM Subject Re: I am definitely going to proceed with it. Mort Sent from my iPhone On Jul 27, 2014, at 10:44 AM, "jeffrey E." <[email protected]> wrote: what about the commmitee that we discussed, ? terje, judge/ etc. also as you might recall you have been focused on these same exact tax issues for over a year , speaking to alan halpering carlyn mcaffrey, ellen harriso, etc. On Sun, Jul 27, 2014 at 10:37 AM, Mortimer Zuckerman M a wrote: Thanks Jeffrey. Let me say upfront that you are misinterpreting my comments What I was saying was that I clearly need appropriate tax and legal counsel to help structure my estate since this the first time that I am concentrating on these issues. Furthermore my net worth has continued to grow dramatically so I have to review and rethink the dispositions since I believe too much wealth if inherited by my children would not be helpful since as I said their lives would be too much about money and I don't support that. So I am focusing more on philanthropy and the appropriate disposition of the wealth I somehow have accumulated. This is harder than it looks because I would hope to have some lasting impacts with the funds I commit as I feel I did with The Institute of the Mind and the Brain at Columbia U which opened my vision of what I have the opportunity to do as I give away a large potion of the wealth I have accumulated. Many Thanks. Mort Sent from my iPhone On Jul 27, 2014, at 9:51 AM, "Jeffrey E." <jeevacationOgmail.com> wrote: Thanks for breakfast yesterday. I write this in order to memorialize our conversation. 1. You agree that a committee should be set up to manage your financial. affairs. . your statement that you realize you are no longer capable of doing so . You suggested that Terjc !arson be in charge as you fully trust his judgement. A lawyer , either joel klein , his wife? and or ALan haperrin, should over see the legal aspect. You said that you hoped that if possible rene abd abilgail could each be left with approx 100 million dollars in trust each. the balance sholud be structured so that EFTA_R1_00245784 EFTA01851693  you may give it away and enjoy the process. you said that 50 mliion should go the Israeli equivablent of a rhodes scholarship program that itamar would help structure. 50 million to columbia to pay salaries of the brain researchers. all houses planes shoudl be sold and only the new york apt kept as rene was comfortable there. . You suggested the Daily news and us news should be sold. , the printing press should be closed. and sold. ( if possible without a bankriutpcy. ). you will most lilely leave bxp in december . and thought that Rand R would be more valuable in the future. . We agreed gthat giving such large suns away should and would be your main focus, Seperate and aprt form the recent will change. that was done by ellen harrison , terms of which you were fuzzy on, you wanted alan duglash to get into the nitty gritty of the tax returns. you thought that in the interim media was well magened by holliber, . and real csatc by You wanted jamie to be involved in the distribution of funds but suggested he was not capable of fully understanding the issues and the complexity. You told me that you recognized that your capability to deal with this was only decreasing, and wanted a team to be fully responsbilte and that you acknowledgged that you were not able to truly follow its progression so that you prefered to delegate with as much protection as possible the people involved. so that they could operate with a free but watched hand. I told you that I prefer not to be involved but if you again chose to bite the bullet, I would sell all the investments . all. restructure all the trusts. all. and direct the monentization of the bxp position. Im not sure if you will again change your mind, but must protect myself and the people you have asked me to get involved. Your foundation will have to be staffed as well. Again I reiterated that 40 million up front paid by tranfereing bxp stock or assigning part of your investemnt portfolio! would be ok, as long as we could secure it. I rccognzicd that cash flow was your concern and said we would find a way, but would only do so with other peoples involvement so as to confirm your desires. I am a friend , I would like to do as you ask, but as you have changed your mind more than once , I remain available.. Rccogznig yesterday , that you were no longer able to deal with these issues, and wanted help, and as i suggested we might need to get a judge or other legal sign off, to validate any arrangement as you might tend to forget in the future , I wish you will. please note 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 JEE EFTA_R1_00245785 EFTA01851694 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 jeevacationegmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved This message is a private communication and is intended only for the named addressee. II may contain information which is confideneal, proprietary ander privileged under applicable law. If you are not the designated recipient. you may not review. copy or distribute this message. If you receive this message in error, please notify the sender by reply email and delete this message from your system. Thank you please note 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 WE 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 ice. [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved This message is a private communication and is intended only for the named addressee. It may contain information which is confidential. proprietary ander privileged under applicable law. If you 3f0 not the designated recipient, you may not review, copy or distnbuto this message. If you receive this message in error, please notify the sender by reply o-mail and delete this message from your system. Thank you. EFTA_R1_00245786 EFTA01851695