Subject: Re: MOU with Transatlantic
From: <[email-masked]>
To: "Hunter Biden" <[email-masked]>, "Eric D. Schwerin" <[email-masked]>
Date: Mon, 19 Jul 2010 04:24:33 +0000

I'm in agreement.  Let me know what forum / format you'd like to relay our positions from and what I should be delivering as a follow-up to yours and Abel's meeting.   

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-----Original Message-----
From: Hunter Biden <[email-masked]>
Date: Sun, 18 Jul 2010 21:40:59 
To: Eric Schwerin<[email-masked]>
Cc: Devon Archer<[email-masked]>
Subject: Re: MOU with Transatlantic

Hold firm on 60/4.
We invoice- the group that does the actual work invoices.
I won't pay a dime of legal expenses for Ormazabal.
No need for a discussion with me- if they don't agree I propose we end the relationship completely.

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On Jul 18, 2010, at 6:57 PM, Eric Schwerin <[email-masked]> wrote:

> Think I told both of you about my meeting with Abel on the MOU and other things related to Transatlantic.  Abel and I agreed we need to finalize the MOU ASAP so we can all be on the same page going forward.
> 
> Some questions we need to decide amongst the three of us.
> 
> 1) We proposed CAF be split 60/40 on BOTH the retainer and any future success fees/equity.  Lorenzo and Abel think only the retainer should be split 60/40 and any incentive fees split 50/50.  Of course I explained that we were giving up the chance for 75% of Talgo to take CAF so going to 60% was us going more than halfway and seemed fair. I also mentioned that we gave up $10K a month for Ormazabal.  Abel countered that Talgo had no success fee so we aren't giving that up.  I don't care strongly but I would like them to ultimately recognize what we are giving up to continue the relationship.
> 
> 2) Who does the invoicing on each client.  I proposed alternating, Abel proposed that the originator invoice.
> 
> 3) Ormazabal - we came to an agreement on expenses.  I don't know what the agreement is on legal fees.  And also while it is not in the MOU I wonder whether we should have some understanding of the amount of work we will do on a day-to-day basis for Ormazabal so the expectations aren't out of whack.
> 
> We can get on the phone in the next day or two to discuss, but I would like to get this finalized and behind us sooner rather than later (as I know both of you would too).
> 
> Just wanted to put the issues on the table for you each to think about.
> 
> Best,
> 
> Eric 
> 
> -- 
> Eric D. Schwerin
> Rosemont Seneca Partners
> (202) 333-1880
> [email-masked]
>