EFTA02594065.pdf

From: Richard Joslin Sent: Tuesday, November 11, 2014 1:52 PM To: jeffrey E. Cc: Eileen Alexanderson; lawrence delson Subject: Re: I am not privy to comp numbers for anyone other than Ava and Aneta so = cannot be precise. EA can add color here. 401k specialist at=Ambose has census data and he was running ACP and ADP (non discrimination =ests) and running matching scenarios for 2015. IT costs currently $3,850 per month. Proposals are in range of $=,40O to 3,600 per month. There are to add on/ contingent costs on each pro=osal that I need to review to determine differences with our current provi=er, eg new server install charge, or imaging a new user computer, file backup costs. On Nov 11, 2014, at 8:35 AM, "jeffrey E." <[email protected] <mailto:[email protected]» wrote: providing percentage numbers for IT tells me NOTHING=It; how much ?? same with 401 k. dollars only , th=s is reallh silly On Tue, Nov 11, 2014 at 8:30 AM, Richard Joslin =span dir="ltr"> <mailto » wrote: Additional specificity: loser positions — AFP Imaging and Magnetek can be sold. Th=re may be virtually worthless security held in LDB 2011 [Starter Corp.] that might be sold to claim tax loss this year Dartmouth contribution— sending checks for Leon to sign today<=font> From: Richard Joslin Sent: Tuesday, November 11, 2014 8:25 AM To: jeffrey E.; Eileen Alexanderson; lawrence delson Subject: RE: LRN shares (K 12 Inc). RD and I contacted transfer agent and now RD is w=rking with KUE outside counsel to get shares quantities confirmed and re-i=sued if necessary. The transfer agent records do not match the amount we s=ould have received (nor is the name on file the holder of record (LBF Holdings)) and transfer agent has n=t EFTA_R1_01777755 EFTA02594065 received insruction to deliver to broker. Once we get quantity and=other transfer agent issues cleared up, we will mpve to broker and sell.&n=sp; RD is contacting outside counsel again today for follow up I rec'd the last of 3 IT outsource proposals yesterday. Second mee=ings with all concluded last week and EA/ LD included in second meeting.&n=sp; I will summarize differences and take one firm out of running (cost 3x=. Plan was to discuss internally today/ tomorrow for final selection. Cost 10% cheaper than current provid=r with same/ improved coverage. Foundation has been funded with appreciated stocks and these positions h=ve been liquidated. There are 1648 shares of United Rentals that are=restricted. RD is sending paperwork to LDB to sign today to clean these sh=res up. Once the paperwork is provided to broker and they release the restriction (move the shares to type 2 acco=nt) then transfer to Foundation will begin. There are a couple of lo=s positions worth < $3K that need to be sold. RD is to provide shares a=d ticker to EA today so that clearance/ compliance apporval can begin. I'd like to have the accounting group=be invilved in this to gain familiarity with the Apollo compliance process= There is a worthless position that JPM will purchase for $1 t= take off their books (Scienta is the name of the company - no longer on pink sheets or OTC BB) RD has paperwork f=r this for LDB to sign today. 401k - call with specialist yesterday with EA/RJ. To not hav= Julie be part of 401k, the thought is to begin plan Dec 1. Compensa=ion would be one month and any employer contribution would be minimal give= any contribution would be for rank and file on one month comp. Given that highly compensated is defined by prior ye=r compensation, Ftl and RD are not highly comped in 2013 and will help cure=any low participation by rank and file for 2014 plan year. (Plan yea= is calender year) Top heavy rules should not be applicable given that RI and EA are only key employees and AC/RD ar= not, ie the key employee contributions will not exceed 60% of total plan =ontributions a/o 12/31/2014. For 2015, the 401k speciali=t is running numbers based on our census to see if we will have any issue either on the discrimination rules or the top he=vy rules. Specialist indicated that matching can be made only for no=- highly compensated and not fr highly compensation, For 2015, HG will not =e highly compensated apparently as her stub comp is less than $115K. The more non-highly comped that partic=pate, the better. 401k specialist is running some scenarios and cost= under different matiching scenarios and will revert tomorrow (Tuesday is =mbrose holiday) Art list has been provided to LDB. Gating question is what is cost=benefit of retaining more than 2x collateral - step up benefit of art reta=ned in estate vs lesser value of art partnership leaving an unpaid note in=hands of APO1 (with a zero basis), ie capital gain by trust at death. This was the gist of the meeting wit= LDB /HG/Ill late Oct. HG has confirmed we can expand colateral list =o 200+ names and go down the value scale to $200K per item. LDB =K with this. This was discussed in FO team meeting two weeks ago. From: Jeffrey E. <[email protected] <mailto:[email protected]» Sent: Tuesday, November 11, 2014 5:31 AM To: Eileen Alexanderson; lawrence delson; Richard Joslin 2 EFTA_R1_01777756 EFTA02594066  Subject: please tell me where we are , with=specificity. KU shares. 401 k, IT cont=act. foundation sales and contributions of stock. , TIMBER ? list of=art to be contributed to partnership. 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 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 [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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 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 [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 3 EFTA_R1_01777757 EFTA02594067