EFTA00984171.pdf

From: Richard Joslin -4 To: Ada Clapp -4 CC: Eileen Alexanderson "[email protected]" [email protected]> Subject: Re: Art loans Date: Fri, 21 Feb 2014 14:02:01 +0000 My suggestion is that you liaise directly with Withers as they are involved with the loan and you can assist Leon with the negotiation. As that is unfolding, i can work with insurance to make sure that aspect is updated and covered. If trust assets are being loaned, Leon can discuss with trustees and you can assist here. Note that Diana is also involved with the negotiation and in particular, the transfer and shipping logistics. I think this is a joint team effort. On Feb 21, 2014, at 8:47 AM, "Ada Clapp" < wrote: Rich—there is too much to do for us to duplicate efforts. If you want this project—you can have it. Just please send me the art loan agreements to review before they are signed. I will discuss any legal issues with the attorneys and if necessary, negotiate terms with the borrowing institutions. Ada Clapp Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: IRS Circular 230 Disclosure: Pursuant to IRS regulations, I inform you that any tax advice contained in this communication (including attachments) is not intended or written to be used, and cannot be used, by any person or entity for the purposes of (i) avoiding tax related penalties imposed by any governmental tax authority, or (ii) proposing, marketing or recommending to another party any transaction or matter discussed herein. I advise you to consult with an independent tax advisor on your particular tax circumstances. This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. From: Richard Joslin Sent: Friday, February 21, 2014 4:36 AM To: Ada Clapp Cc: Eileen Alexanderson; [email protected] Subject: Re: Art loans Leon and I spoke about the loans he had directed me contact Diana which i already have done. We also discussed insurance and i understand Jeffrey writes a policy for each and the borrower has a policy on the loaned work. I need to EFTA00984171 be involved in the art loan process. Let's sit down with Eileen today to map out responsibilities. I think if multiple people are asking for the same info or similar questions it will get back quickly to LDB. On Feb 20, 2014, at 9:07 PM, "Ada Clapp" c> wrote: Hi Rich. I do not have the art loan agreements only a schedule of upcoming art loans to be made. As I get the agreements going forward I can send you the signed copies or just let you know the details-whichever you prefer. For your information though, the borrower is usually obliged to insure the work during the period of the loan. As I understand it, it still stays insured under the umbrella policy. Sometimes Jeff Haber reviews the agreements to make sure the coverage offered by the institution is adequate. Where it is not, as in the case of a loan of Debra's jewelry, he may suggest supplemental insurance or we negotiate the agreement. I will follow up with the two Dianas on this so please let me handle that piece of it. We should not both be discussing with them (trying to control fees). Thanks. Sent from my iPad On Feb 20, 2014, at 6:52 PM, "Richard Joslin" < > wrote: Thanks. I did not realize we had loan agreements in house. Kindly give to Elizabeth or to me. Given that I am tracking art by location and insurance coverage, lets work in tandem on this going forward. I am awaiting Diana to let me know on planned loans (in the future) and i will share once it comes in. Thanks. On Feb 20, 2014, at 4:28 PM, "Ada Clapp" < > wrote: I believe the understanding at today's meeting is that I should review each art loan agreement prepared by Withers on a going forward basis to be sure that the agreements sufficient protect Leon and that the provisions do not vary from agreement to agreement except to extent necessary to accommodate the circumstances of a particular loan. Last November Withers sent me a list of loan agreements in progress. They also asked me to review the language in the loan agreements regarding reproduction rights. At that time it was not clear whether Leon wanted me to be involved in this aspect of his planning. If Jeffrey and Eileen agree with my above understanding I will reach out to Diana Wierbicki and work with her on not yet signed art loan agreements. Ada Clapp Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: IRS Circular 230 Disclosure: Pursuant to IRS regulations, I inform you that any tax advice contained in this communication (including attachments) is not intended or written to be used, and cannot be used, by any person or entity for the purposes of (i) avoiding tax related penalties imposed by any governmental tax authority, or (ii) proposing, marketing or recommending to another party any transaction or matter discussed herein. I advise you to consult with an independent tax advisor on your particular tax circumstances. EFTA00984172 This communication and any attachment is for the intended recipient(s) only and may contain information that is privileged, confidential and/or proprietary. If you are not the intended recipient, you are hereby notified that further dissemination of this communication and its attachments is prohibited. Please delete all copies of this communication and its attachments and notify me immediately that you have received them in error. Thank you. From: Richard Joslin Sent: Thursday, February 20, 2014 4:21 PM To: [email protected]• Ada Clapp Subject: Art loans Jeffrey/Ada: I have been working with Diana and Leon on art loans (current and promised). I was not clear from the call today what was discussed about documentation. Is Ada to contact Withers to get existing loan agreements? Once we have these does I need to synthesize with the insurance as Leon indicated all works are insured by the borrower during the loan period with Leon et al as the loss payees. My plan was to work with Haber once I got a full list. Please let me know so that we can work on a coordinated basis. Thanks EFTA00984173