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Not sure if you and Jay will end up talking before I come back, but a couple of things to keep in mind discuss with him.

1) I haven't discussed (and he hasn't asked) how much he'd get as part of the OAS contract. We had him (and anyone else he thinks he needs to bring in, i.e., Orduz) at no more than 20% of the total success fee. No retainer. That's very fair, but I have no idea what he was thinking.
2) Jay hasn't paid rent in four months (behind $20,000). I know he has no clients who are paying and I think he thinks his work on OAS would be somewhat in exchange for not taking a retainer. I think if that is the case, 20% may be too high, but I would like to get to the point where he is paying some rent even if we have to reduce it from the $5K a month we are now charging him. He did tell me yesterday he's owed $20K from the Colombians and when he got it he'd pay some of his back rent.

We (or I) can discuss all of this with him when I get back, but if he brings any of this up, wanted you to be aware.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
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