Subject: Re: Correct one.
From: "Eric Schwerin" <[email-masked]>
To: "Sarah E. Mancinelli" <[email-masked]>
Cc: "Hunter Biden" <[email-masked]>
Date: Tue, 21 Mar 2017 10:49:40 -0400

Bill suggests one edit to the income section for the sake of clarity - see below in red.   Still not sure what the last sentence means - is it supposed to be deducted from the gross receipts (i.e., is his car not an allowable expense and counted as income for Kathleen’s purpose)?  Not clear as the sentence is sort of just hanging out there.  If we want to include that as an expense to Hunter and not to Kathleen, Bill suggests that we can clarify income by saying “Benefits paid to Hunter are not considered income unless paid in cash.”  But I wasn’t sure.

d.         Income:  For the purposes of this paragraph “income” shall be defined as the greater of:

Line 22 on Hunter’s federal form 1040 (line 22 reflects gross income before any adjustment), or
Line 22 on Hunter’s federal form 1040 as adjusted.
Adjusted defined;
                                               i.     Flow through income (including but not limited to sole proprietorships, partnerships, and/or sub s-corporate entities) to be recalculated based on gross receipts (i.e., cash money received) minus ordinary and necessary expenses, without regard to non-cash expenses (including but not limited to depreciation, amortization), subject to Hunter’s ownership percentage. 

Inclusion of any expense for which Hunter receives a direct personal benefit. By way of example (but not limited to); provisions for automobile from any related companies, non business per diem, country club memberships, etc.

Eric D. Schwerin
Rosemont Seneca Advisors, LLC
2900 K Street, NW
Suite 507
Washington, DC 20007
(202) 333-1880
[email-masked] <x-msg://59/[email-masked]>
P Consider the environment before printing this email.

WE’VE MOVED: PLEASE NOTE OUR NEW ADDRESS ABOVE

> On Mar 20, 2017, at 10:45 PM, Eric Schwerin <[email-masked]> wrote:
> 
> Per Hunter, I did just send the income section to our accountant and asked if he can review and get back to us by mid-morning tomorrow at the latest. 
> 
> 
> 
> Eric D. Schwerin
> Rosemont Seneca Advisors, LLC
> 2900 K Street, NW
> Suite 507
> Washington, DC 20007
> (202) 333-1880
> [email-masked] <x-msg://59/[email-masked]>
> P Consider the environment before printing this email.
> 
> WE’VE MOVED: PLEASE NOTE OUR NEW ADDRESS ABOVE
> 
>> On Mar 20, 2017, at 10:44 PM, SMancinelli <[email-masked] <mailto:[email-masked]>> wrote:
>> 
>> Ok good. Those are all the things I had taken out from the one hunter sent earlier. Think we are good to use the draft I sent tonight. 
>> 
>> On Mar 20, 2017, at 10:22 PM, Eric Schwerin <[email-masked] <mailto:[email-masked]>> wrote:
>> 
>>> Differences with your draft.  (Definitely seems a draft ago.)
>>> 
>>> Kathleen’s still includes:
>>> 
>>> $20,000 debt to Buhles
>>> 
>>> Says Hunter has 60 days to pay off AMEX bill and 90 days to pay off other debts (i.e., Buhles, Lourdes, SmartTherapy, etc.)
>>> 
>>> Says Hunter is responsible for amount equivalent to her legal fees payable within 90 days.
>>> 
>>> Mentions “Chinese Equity Interest” - should specify Bohai Harvest Rosemont.
>>> 
>>> Beginning on November 1, 2035 section does not include section stipulating what happens if Hunter’s income is less than $250,000.   Same with section on remarriage.
>>> 
>>> Confidentiality section does not include refraining from public statements to the press in contradiction of this agreement.  Not does it include the insertion of the word “confidentiality” along with “privacy”.
>>> 
>>> Same typos I found in your version.
>>> 
>>> 
>>> 
>>> Eric D. Schwerin
>>> Rosemont Seneca Advisors, LLC
>>> 2900 K Street, NW
>>> Suite 507
>>> Washington, DC 20007
>>> (202) 333-1880
>>> [email-masked] <x-msg://59/[email-masked]>
>>> P Consider the environment before printing this email.
>>> 
>>> WE’VE MOVED: PLEASE NOTE OUR NEW ADDRESS ABOVE
>>> 
>>>> On Mar 20, 2017, at 10:10 PM, Eric Schwerin <[email-masked] <mailto:[email-masked]>> wrote:
>>>> 
>>>> Yes, looking at it now.
>>>> 
>>>> 
>>>> 
>>>> Eric D. Schwerin
>>>> Rosemont Seneca Advisors, LLC
>>>> 2900 K Street, NW
>>>> Suite 507
>>>> Washington, DC 20007
>>>> (202) 333-1880
>>>> [email-masked] <x-msg://59/[email-masked]>
>>>> P Consider the environment before printing this email.
>>>> 
>>>> WE’VE MOVED: PLEASE NOTE OUR NEW ADDRESS ABOVE
>>>> 
>>>>> On Mar 20, 2017, at 10:08 PM, SMancinelli <[email-masked] <mailto:[email-masked]>> wrote:
>>>>> 
>>>>> Eric-
>>>>> 
>>>>> I am not on my computer- can you do a compare of this draft to the one I just circulated? 
>>>>> 
>>>>> On Mar 20, 2017, at 10:06 PM, Hunter Biden <[email-masked] <mailto:[email-masked]>> wrote:
>>>>> 
>>>>>> 
>>>>>> 
>>>>>> Sent from my iPhone
>>>>>> 
>>>>>> Begin forwarded message:
>>>>>> 
>>>>>>> From: Kathleen Biden >
>>>>>>> Subject: Correct one.
>>>>>>> 
>>>>>>> Sorry.  Previous one was wrong.  I think we need notary so I can print it and take it somewhere to be notarized and then give it to you or you can and then give it to me.  Doesn't matter to me.  
>>>>>>> 
>>>>>> <Biden MSA final.docx>
>>>>>>> 
>>>>>>> 
>>>>>>> 
>>>>>>> Sent from my iPhone
>>>> 
>>> 
>