EMAIL DETAILS

Based on Hunter’s email how about the edited version below as a starting point for discussion? How’s tomorrow late morning work for you to talk by phone - perhaps 11am?
----------

Rebekah-

I met with Hunter last week. We spent the vast majority of that time doing our best to develop an interim support and bill paying arrangement. While it is not a sustainable scenario for a final settlement, Hunter wants to develop an interim arrangement in keeping with Kathleen’s desire for him to continue to be responsible for the payment of all of their recurring monthly expenses (which ranges between $22,000 and $25,000). Hunter recognizes the bill paying responsibility has never fallen on Kathleen’s shoulders and at this juncture, he appreciates that she would prefer that not to change so he will continue to pay all of the recurring expenses in the interim.

Our primary goal with the proposal below is to project for Kathleen the payments that Hunter expects to receive this month and how those funds will be allocated- including funds for retainer payments.

1) On or about January 20th, Hunter will receive his salary payment of $70,000 from Owasco, PC representing his monthly fees from Burisma:

Salary: $70,000
Net pay: $39,000
Autopays (approx): $25,000
Remainder (approx.): $14,000

Hunter proposes paying Kathleen $10,000 on or about the 20th and he would retain the remaining $4,000.

2) Hunter anticipates believes a $60,000 “Romania” related payment may come in before the end of the January. Should that payment be received as anticipate, Owasco, P.C. would pay out a bonus in the amount of $60,000 and there would be $34,000 remaining after taxes.

Bonus: $60,000
Net pay: $34,000

From that $34,000, Hunter proposes the following:

· Dr. Giannini’s bill is paid ($3,662)
· $10,000 for Kathleen’s retainers
· $10,000 to Kathleen
· $10,338 to Hunter

Therefore, of the possible $130,000 Hunter hopes to receive in January, Kathleen would receive $20,000 and Hunter would receive $14,338. And Kathleen’s retainer and the bill for Dr. Giannini would also be paid. In addition, Lourdes is owed $1,380 that Kathleen promised Lourdes to help with her taxes. If Kathleen could pay that out of her $20,000 that would go a long way to chipping away at some outstanding debts.

Should any additional money come in above and beyond that $130,000, we will alert you to that ASAP. I can say, however, that any additional cash that becomes available will likely need to first be applied to debt/tax payments before being distributed out to the parties for their discretionary use.

3) There is not yet certainty as to what the February numbers will be at this point. Its my understanding that Hunter’s Burisma payments will be reduced to around $750,000 a year. After expenses paid by Owasco, PC that would leave Hunter with a salary payment on February 20th of $56,500 and after recurring monthly payments, would leave only $7,500 to distribute to Hunter and Kathleen. We hope to have a better idea of that figure soon and once we do we can better ascertain how to handle February. I would note however, that in February, Hunter and Kathleen will have to begin a payment plan to pay the IRS which will impact the amount available for discretionary spending. In addition, while Hunter is no longer paying rent and utilities for his apartment, the apartment was rented by Owasco, P.C. and Hunter will need to dedicate a portion of future discretionary spending to pay Owasco, P.C. back for those costs and/or dedicate a similar amount of money to his own living expenses.

With the goal of operating in a fully transparent manner, every week a spreadsheet will be circulated demonstrating how all of the parties funds are being spent.

I understand that the majority of Hunter’s belongings were removed from the garage at the marital home. Please confirm.

We trust this will be an agreeable way forward for the remainder of the month of January. We would like to turn our attention to developing a mutually agreed upon comprehensive settlement arrangement.


Eric D. Schwerin
Rosemont Seneca Advisors, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com <x-msg://59/eschwerin@obblaw.com>
P Consider the environment before printing this email.

> On Jan 10, 2017, at 3:24 PM, SMancinelli <SMancinelli@ainbanklaw.com> wrote:
>
> Hunter-
>
> As we discussed when we met last week, our goal was to develop an interim arrangement that you and Kathleen can BOTH live with- allowing us to move forward with developing a comprehensive settlement arrangement. I recognize that what is proposed is not sustainable long-term. As you know, I have always advocated shelling off some of the recurring monthly expenses to Kathleen so that she can manage those directly. However, I left our meeting last week with the impression that you believed it was important in the interim to continue paying those directly- because Kathleen is too fearful at the moment of taking those on herself.
>
> If this interim proposal is not acceptable to you then it is obviously not acceptable to me. We should have a call or meet in person to discuss this fully as we clearly did not accomplish all we needed to in our meeting last week.
>
> I am available Thursday and Friday. Let me know what works for you.
>
> Sarah
>
> From: Hunter Biden [mailto:hbiden@rosemontseneca.com]
> Sent: Tuesday, January 10, 2017 2:44 PM
> To: SMancinelli
> Cc: Eric Schwerin (eschwerin@rosemontseneca.com)
> Subject: Re: draft email
>
> Why are we even mentioning the remaining payment when I I think it's more likely than not I will not receive payment. Also what is the rationale of not making it clear that the entirety of the auto pays or at least The vast majority benefit Kathleen alone and that she will be getting effectively 70% of all income. Anyway I'm not quite sure why I am establishing a monthly nut of 45K. Look at the past monthly extraordinary costs such as retainer and dental care work. Establishing that I am going to live in my parents home that is insane is a six bedroom home that for some reason we are now establishing I have no right to enter with tens of thousands of dollars in furniture and art that I have no access to. What we are allowing to let stand as the norm and the narrative of the past 20 months which is so out of wack is hard for me to accept. What is is the strategy here? /
>
> Sent from my iPhone
>
> On Jan 8, 2017, at 5:19 PM, SMancinelli <SMancinelli@ainbanklaw.com <mailto:SMancinelli@ainbanklaw.com>> wrote:
>
> Hunter and Eric-
>
> Below is my draft email to Rebekah. I welcome any edits. If/when good to go- I will email it to her ASAP.
>
> Sarah
>
> Rebekah-
>
> I met with Hunter last week. We spent the vast majority of that time doing our best to develop an interim support and bill paying arrangement. While it is not a sustainable scenario for a final settlement, Hunter wants to develop an interim arrangement in keeping with Kathleen’s desire for him to continue to be responsible for the payment of all of their recurring monthly expenses (which ranges between $22,000 and $25,000). Hunter recognizes the bill paying responsibility has never fallen on Kathleen’s shoulders and at this juncture, he appreciates that she would prefer that not to change.
>
> Our primary goal with the proposal below is to project for Kathleen the payments that Hunter expects to receive this month and how those funds will be allocated- including funds for retainer payments.
>
> 1) On or about January 20th, Hunter will receive his salary payment of $70,000 from Owasco, PC representing his monthly fees from Burisma:
>
> Salary: $70,000
> Net pay: $39,000
> Autopays (approx): $25,000
> Remainder (approx.): $14,000
>
> Hunter proposes paying Kathleen $10,000 on or about the 20th and he would retain the remaining $4,000.
>
> 2) Hunter anticipates a $60,000 “Romania” related payment to come in before the end of the January. Should that payment be received as anticipate, Owasco, P.C. would pay out a bonus in the amount of $60,000 and there would be $34,000 remaining after taxes.
>
> Bonus: $60,000
> Net pay: $34,000
>
> From that $34,000, Hunter proposes the following:
>
> · Dr. Giannini’s bill is paid ($3,662)
> · $10,000 for Kathleen’s retainers
> · $10,000 to Kathleen
> · $6,000 to Hunter
>
> Therefore, of the possible $130,000 Hunter hopes to receive in January, Kathleen would receive $20,000 and Hunter would receive $10,000. And Kathleen’s retainer and the bill for Dr. Giannini would also be paid.
>
> Should any additional money come in above and beyond that $130,000, we will alert you to that ASAP. I can say, however, that any additional cash that becomes available will likely need to first be applied to debt/tax payments before being distributed out to the parties for their discretionary use.
>
> 3) There is not yet certainty as to what the February numbers will be at this point. Its my understanding that Hunter’s Burisma payments will be reduced to around $750,000 a year. After expenses paid by Owasco, PC that would leave Hunter with a salary payment on February 20th of $56,500 and after recurring monthly payments, would leave only $7,500 to distribute to Hunter and Kathleen. We hope to have a better idea of that figure soon and once we do we can better ascertain how to handle February.
>
> Salary: $56,500
> Net pay: $32,500
> Autopays (approx.): $25,000
> Remainder (approx.): $7,500
>
> With the goal of operating in a fully transparent manner, every week a spreadsheet will be circulated demonstrating how all of the parties funds are being spent.
>
> I understand that the majority of Hunter’s belongings were removed from the garage at the marital home. Please confirm.
>
> We trust this will be an agreeable way forward for the remainder of the month of January. We would like to turn our attention to developing a mutually agreed upon comprehensive settlement arrangement.
>
>
> Sarah E. Mancinelli, Esq.
> Ain & Bank, P.C.
> 1900 M. Street, NW, Suite 600
> Washington, D.C. 20036-3565
> (202) 530-3355 (direct dial)
> (202) 530-4411 (fax)