EPSTEIN
page 5 / 345 . OCR, unverified
a variable 2% fee. I did not want to renew anyway, but did not say anything as we
wanted to get paid on the deals that were still active in our pipeline, under the terms of
the expiring agreement which had a tail. So I said "lets solve the open issues and then
we work on discussing the new agreement" (which BTW, cancels off all the rights we
have on the expiring contract).
4. After December, I met w/ Rick Smith again in January 2014 in Brazil and had a very
honest conversation about the entire situation. He asked me to send evidence which I
did in February (the ppt you have). But when I met Dick Cashin in feb, he said he was not
the person to discuss this, and threw the decision back to Rick. However, Dick Cashin
stated that we made "too much money" over the years and that this needed to end as
things changed in 1PM. In early March 20141 asked Rick if he had reviewed the evidence,
and to date he said he has not had time. I am supposed to follow up this Friday. Other
people internally aware of this are their internal legal counsel, Judah Shechter, Kathy
Bryan, the CFO (an ex-1PM) and Fritz Hobbs, a close friend to Cashin who is on our side
and knows how bad the Brazil OEP'ers behaved.
S. My plan is to (i) drop out of the 3 boards I sit in at the Brazil portfolio companies
they/I invested in; (ii) Get paid the fee for Cless deal (hair products)
that was signed in February 2014 and has a closing next week (they said they would
pay), and (iii) right after get a lawyer to press them to pay for Unicoba. While they
offered to pay 2 more months of retainer (260k) as a "recognition of good work" but in
fact to be a cut of the 1M due, I did not accept as I said we did do work and they need to
fulfill the agreement.
6. OEP's situation is pretty critical - they were for sale until now. I know that the JPM top
exec supervising them - Matt Zames - has been very much on top of their business,
costs, selling, pulling back etc and making their life difficult. So part of what they say is
that "things changed", that they need to figure out what will be of OEP, that these are
new times and paying anything needs to be much justified etc.
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A top lawyer very close to me here suggested to connect mew/ litigation attorney
Michael Carlinsky. I just want OEP to pay what they owe me as that is the right thing,
and if getting the lawyer is the most effective way (even if just to put pressure) I will do
that. If going through another path is worthwhile (like asking some big clients to
complain or speaking to someone who can influence), ready to learn what that would
be. Its important to say that we still have equity in two other deals here (so we are their
partners), that are worth at least 10x what they owe us in the unicoba fee. So I don't
want to put that at risk, even though we have contracts there.
They are a firm run by men who do not think very highly of women. No women partners
on the investment side. So they really look at me thinking I will bend and do nothing. I
can be very patient.
thoughts?
Thanks=
On Mar 26, 2014, at 5:00 PM, Jeffrey Epstein wrote:
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now?
On Wed, 1%.1
PM
wrote:
Thanks Boris. Jeff • let me know if I can call you tonight or what other time would be
good to speak. Best, INIE
From: Boris Nikolic
March 26, 2014 04:29 PM
• Jeffrey Epstein <jeevacationftamail.com>
nd Jeffery
Jeffery as I mentioned you
has some challenges re her. Agreement. You are uniquely
position to advise her. It is the best if you could connect directly.
leffery's cell
He is now in NYC. Please call him when you can.
Thank you Jeffrey!
Boris
Sent from my Windows Phone
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