EFTA01750600.pdf

Subject: Re: AG From: David Stern <. Sent: Saturday, February 8, 2014 12:30:33 PM Cc: Jeffrey Epstein <'eevacation mail.com> To: Richard Merkin > Frankly this makes no sense. We negotiated in good faith, made the changes your guys wanted. I signed a contract based on your committment, only after passing it by your people. Not until the very last moment was the rug pulled out. This is wrong, and i hope you will rectify. David > On 7 Feb 2014, at 14:34, Richard Merkin a wrote: > Thank you for the mensch comment. My understanding of the facts are significantly different from yours. The individual that was in discussions with you and your lawyers found the discussions not satisfying. He recommended strongly against this involvement. To double check and verify I asked another investment professional to independently review and independently make a recommendation. Which he did. I hope for the best for you. In the final analysis, not only the deal points, but particularly for the challenge of the negotiation, the initial recommendation was to discontinue the negotiation. The second investment professional confirmed the recommendation. I hope to speak to you in the near future. Best > ---Original Message--- > From: David Stem [mailton > Sent: Friday, February 07, 2014 6:14 AM > To: Richard Merkin > Cc: Jeffrey Epstein > Subject: Re: AG > Dick, > Since the company was founded 2006 I have NEVER taken a salary nor was one planned, actually to the contrary, as sign of personal commitment to you my CEO had reduced his salary to Zero since the summer. > I remind you: in the summer (June!) you and I agreed on this deal. I know your team was aware that I turned away other investors based on your firm word and I have incurred legal costs in excess of USD 400.000 since. > Your lawyers have not drafted a single document but made endless requests.> > Your new head of direct investments has spoken to me three times in his life for not more than 10 minutes. > In fact, he told me that you didn't invest in companies that were not profitiable is proven inaccurate by your investment USD 1m in GNS Healthcare. > You have an obligation to me and to Jeffrey, not to invest, but to behave like a mensch. There is little reason not to speak, it is unfair, uncalled for and certainly not in line with your reputation. > David EFTA_R1_00048074 EFTA01750600