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Sounds good. I clearly think the fact that we gave up the potential for a 75% performance bonus in equity and/or success fee should be worth something. Also, we never failed in our job which was to bring a Talgo contract to the table. Not trying to get us all whipped up again, but as I think it through more, not only are we not splitting the difference between 75% and 50%, we are going form 75% to 60% and they are going from 50% to 60%. That is a fair compromise. Or, they pay us $10K a month on Ormazabal. Either one.


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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On Jun 15, 2010, at 12:11 PM, darcher@rosemontseneca.com wrote:

I think 60/40 is the right compromise. I will call Abel today.
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From: Eric Schwerin <eschwerin@rosemontseneca.com>
Date: Tue, 15 Jun 2010 12:05:13 -0400
To: darcher@rosemontseneca.com Archer<darcher@rosemontseneca.com>; hbiden@rosemontseneca.com Biden<hbiden@rosemontseneca.com>
Subject: Transatlantic MOU

Abel called me about the MOU. As I suspected, he didn't think we should split the CAF success fee 60/40, but instead 50/50. I didn't commit either way - said I would discuss with the two of you. I think the chances of a success fee aren't great so I don't know if it makes sense to push, but of course there is still the fact that we gave up a 75/25 equity split on Talgo for this and the 60/40 would be a nice compromise.


Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
eschwerin@rosemontseneca.com
P Consider the environment before printing this email.