EFTA00961518.pdf

From: Jeffrey Epstein <[email protected]> To: Richard Kahn Subject: Fwd: Proposal Date: Fri, 24 May 2013 16:19:54 +0000 how does this compare to their last offer Forwarded message From: Farkas, Andrew L. Date: Thu, May 23, 2013 at 11:49 AM Subject: Proposal To: "[email protected]" <[email protected]> As per our discussion of last evening, I wanted to come back to you today with a proposal to resolve everyone's differences as best as possible under the circumstances. I have asked the management of IGY to be responsive to the settlement of the current disagreement to ensure that third parties representing the interests of the IGY shareholders believe it to be appropriate and achievable. In settlement of all disputes it would be proposed as follows: 1) IGY would pay you $250,000 in cash. 2) All fuel purchases would be at cost (which IGY believes to approximate a 20% discount to retail -- the mechanics of this to be worked out in a document). The intention is to achieve a zero profit margin on all of your fuel purchases • 3) Your present slip arrangements to be perpetuated. 4) IGY would decrease its management fee to 5% from the current 7.5%. 5) Any discounts to underlying indebtedness would be shared pro rata by the partners with any equity requirements associated with the achievement with such discounts also shared pro rata (only to the extent that third party capital was not available at acceptable pricing). 6) A general renovation of the property in a manner consistent with present market circumstances would be pursued promptly. Your agreement to the cost and scope would be solicited prior to the commencement of same. 7) The parties would execute mutual releases. As you know, I deeply regret the fact that everyone is engaged in any dispute and hope to resolve the matter as expeditiously an constructively as possible. This message, and any attachments hereto, is confidential and intended exclusively for the use of the individual or entity to whom it is addressed. This communication may contain information that is confidential, proprietary, privileged, subject to a confidentiality and/or non-disclosure agreement, or otherwise exempt or protected from disclosure (either by contract or under applicable law). If you are not the intended recipient, you are hereby notified that printing, retaining, reproducing, copying, disclosing, disseminating or using this message or any information contained herein (including any reliance thereon) is strictly prohibited. If you have received this message in error, please contact the sender immediately and destroy the message (including any attachments) EFTA00961518 and any copies in their entirety, whether in electronic or hard copy format. Nothing contained in this e-mail shall be considered a legally binding agreement, amendment or modification of any agreement with Island Capital Group LLC or any of its affiliates, each of which requires a fully executed agreement to be received by Island Capital Group LLC or such affiliate. 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 [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00961519