EMAIL DETAILS

Team:

I have spoken to Hunter about a couple concerns with the proposed terms, below, and have a call set for 5 pm eastern today with Mervyn to get some clarity on the business points he identified. I will give you a further update later today.

Thank you.

George

George R. Mesires
Partner
george.mesires@FaegreBD.com<mailto:george.mesires@FaegreBD.com> Download vCard<https://www.faegrebd.com/vcard/george.mesires.vcf>
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Faegre Baker Daniels LLP<https://www.FaegreBD.com>
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From: Mervyn Yan [mailto:mervyn.yan@gmail.com]
Sent: Thursday, March 22, 2018 9:29 AM
To: Mesires, George R.
Cc: R. Hunter Biden (rhbdc@me.com); James Biden (jbiden@lionhallgp.com); Smith, Kelley L.
Subject: Re: Hudson West III LLC - Revised Assignment of Membership Interests

Mr. Mesires,

Per our conversation with Jim and Hunter in the last two days, the framework of this assignments was agreed as follow,

1) Hudson West V LLC membership interest is to be assigned to Coldharbour Capital LLC, a New York State Limited Liability Company, which is owned and controlled by me, as an independent entity. Going forward Coldharbour and Owasco shall be operating as members of Hudson West III for normal business activities.

2) Owasco is to be reimbursed any business expenses up to $50k a month, in addition to the regular monthly draw.

3) Coldharbour is to be reimbursed any business expenses up to $15k a month, in addition to the regular monthly monthly draw.

4) Hudson West III is to reimburse Hudson West V prepaid office spaces one-time expense of $259,845 to sever the association.

I'd suggest that we update the assignment agreement and amend the LLC Agreement, please find the word version attached. I am available for a call.

Thanks,
Mervyn Yan
917-402-0017

On Mon, Mar 19, 2018 at 11:47 PM, Mesires, George R. <George.Mesires@faegrebd.com<mailto:George.Mesires@faegrebd.com>> wrote:
Mervyn:

Please see the attached letter and revised Assignment and Assumption Agreement. I understand this is the last information you need to effectuate the transfer of units. If my understanding is incorrect, please let me know what additional information you need to bring this matter to a prompt conclusion.

Thank you.

George

George R. Mesires
Partner
george.mesires@FaegreBD.com<mailto:george.mesires@FaegreBD.com> Download vCard<https://www.faegrebd.com/vcard/george.mesires.vcf>
D: +1 312 356 5101<tel:(312)%20356-5101> | M: +1 312 972 4151<tel:(312)%20972-4151>

Faegre Baker Daniels LLP<https://www.FaegreBD.com>
311 S. Wacker Drive | Suite 4300 | Chicago, IL 60606, USA