Академический Документы
Профессиональный Документы
Культура Документы
1
Davis Shapiro Lewit &
New York
01
s, LLP
-
Beverly Hills
October 19, 2012 VIA FEDERAL EXPRESS: Mr. Daniel B. Hayes, sq. 150 South Rodeo Drive Suite 200 Beverly Hills, CA 90212 Dear Danny, As you may already have received, we sent you a notice of expulsion (a copy is attached in case you didn't receive it via certified mail yet, as was required). Enclosed with this letter, is a check made payable to you for $96,138.83. The reason for this, is because we made a distribution of $500,000.00 of available cash according to the following formula: to each of SS, P1 and DH, 30% of each of our respective collections as reported to us by Steve Rice as of October 15, 2012, LESS payments already received by each of us, to date, This figure alone equaled $686,673.59 so as to respect your wishes for us not to draw from the LOC, we reduced each of our respective payments by $62,224.53. Enclosed is a worksheet, which shows the calculations and how each of our payments were derived. You should feel free to cash this check "without prejudice" to any position you feel you may have. More importantly, after you have reviewed the expulsion letter, you will see that it is our desire to form a new relationship with you, one that hopefully will address your stated concerns about your responsibility on the LOC, gives you clarity on Prodege, and permits us to continue to work together notwithstanding our obvious differences in goals and paths. We are certainly mindful of not causing you any unnecessary stress. That said, we are under duress as well. We are hopeful that we can work this out amicably, as we owe that to ourselves to at least try, and in this regard, we will send you a proposal for your consideration. We expect you to receive it in the spirit intended.
Fifth floor
Lastly, nobody is yet aware of what is happening (except we will need to tell Rice today). Part of this process will be to mutually decide the timing and content as we know this is important to you. Obviously the foregoing will only be possible in informal talks. Let's set a call to discuss these issues, as soon as possible.
Best,
DS H
LLP Davis Shapiro Lewit & Hayes,
Fifth Floor I
'c
/ 1'((tZ.
73
3I2
LL
751,L,3f 11!1ui.s-
)3/
3o7
27
i5f
65
4 ,4(/.?j' 0 7/f Zt
(92 2.- f. Y3
6?*9
-)
#v((
?1-
&(5j?
-
cw 5
j
?~
i /
EK 22~
6094
DAVIS SHAPIRO LEWIT
689 FIFTH AVENUE, 5Th FLOOR
CHASE
1-2-210
4)
c3f- /
(
Z-' t 2
Ct
j3
tc;?y ej
$q4l
'tIS
J4y
DOLLARS co
-5C 1'l(i44J1
MEMO
u'0009I1'
1:0
0000 2 L'
2 2I