From: Glaccum, David (FO) <David.Glaccum@dfc.

gov>
Sent time: 07/26/2020 01:30:21 PM
To: Subotic, Simonida (CHAMBER); Allal, Alale <Alale.Allal@dfc.gov>
DesRosiers, Jill (CHAMBER); Cochran, Alexander (CHAMBER); Baitel, Rachael (FO) <Rachael.Baitel@dfc.gov>; Gertler, Eric (ESD); Zemsky,
Cc:
Howard (ESD); Esposito, Vincent (ESD); Smith, Austin <Austin.Smith@dfc.gov>
Subject: Re: David // Alexander Intro - Kodak

ATTENTION: This email came from an external source. Do not open attachments or click on links from unknown senders or unexpected emails.
When fully operational, Kodak will be able to produce 25% of generic, small molecule
APIs, excluding antibiotics and antibacterials.

From: Simonida Subotic <Simonida.Subotic@exec.ny.gov>

Sent: Sunday, July 26, 2020 1:18:31 PM
To: Allal, Alale <Alale.Allal@dfc.gov>
Cc: Glaccum, David (FO) <David.Glaccum@dfc.gov>; Jill DesRosiers <Jill.DesRosiers@exec.ny.gov>; Alexander Cochran
<Alexander.Cochran@exec.ny.gov>; Baitel, Rachael (FO) <Rachael.Baitel@dfc.gov>; Eric Gertler (esd.ny.gov)
<eric.gertler@esd.ny.gov>; Howard Zemsky (esd.ny.gov) <howard.zemsky@esd.ny.gov>; Vincent Esposito (esd.ny.gov)
<vincent.esposito@esd.ny.gov>; Smith, Austin <Austin.Smith@dfc.gov>
Subject: Re: David // Alexander Intro ‐ Kodak

Thanks again. Can you pls clarify the final production target - 25% of what type of products exactly?

On Jul 26, 2020, at 12:23 PM, Allal, Alale <Alale.Allal@dfc.gov> wrote:

Hi Simonida,

Yes, as David outlines below, we have not yet finalized the milestones of accomplishment in order for various
disbursement to occur. Our targets at present is to fund $360MM yr.1, $250MM yr.2, and $155MM yr3. with
checkpoints in place to assure certain conditions are met before advancing in the disbursement schedule.

Best regards,

Alale Allal
Project Finance Manager
U.S. International Development Finance Corporation (DFC)
o. +1 (202) 412-4657| | alale.allal@dfc.gov

Investing in Development | dfc.gov

From: Glaccum, David (FO) <David.Glaccum@dfc.gov>

Sent: Sunday, July 26, 2020 11:59 AM
To: Simonida Subotic <Simonida.Subotic@exec.ny.gov>
Cc: Jill DesRosiers <Jill.DesRosiers@exec.ny.gov>; Alexander Cochran <Alexander.Cochran@exec.ny.gov>; Baitel,
Rachael (FO) <Rachael.Baitel@dfc.gov>; Allal, Alale <Alale.Allal@dfc.gov>; Eric Gertler (esd.ny.gov)
<eric.gertler@esd.ny.gov>; Howard Zemsky (esd.ny.gov) <howard.zemsky@esd.ny.gov>; Vincent Esposito
(esd.ny.gov) <vincent.esposito@esd.ny.gov>; Smith, Austin <Austin.Smith@dfc.gov>
Subject: Re: David // Alexander Intro ‐ Kodak

I’ll defer to Alale on what milestones have been discussed with Kodak. As I mentioned yesterday, they have not
been finalized and won’t be until we have a finance agreement in place, but Alale had had conceptual
conversations with them. The big groupings are likely to be construction milestones, licensing milestones, and
production volume. But again, will defer to Alale.

DMG

From: Simonida Subotic <Simonida.Subotic@exec.ny.gov>

Sent: Sunday, July 26, 2020 11:56 AM
To: Glaccum, David (FO)
Cc: Jill DesRosiers; Alexander Cochran; Baitel, Rachael (FO); Allal, Alale; Eric Gertler (esd.ny.gov); Howard Zemsky
(esd.ny.gov); Vincent Esposito (esd.ny.gov); Smith, Austin
Subject: Re: David // Alexander Intro ‐ Kodak

David ‐ what else can you share in terms of milestones and loan terms so we can align what we are thinking?
Thanks very much

On Jul 26, 2020, at 11:42 AM, Glaccum, David (FO) <David.Glaccum@dfc.gov> wrote:

Simonida ‐ okay, that sounds good. Tomorrow morning is really bad for me. I’m booked up basically
from 8:00 ‐ 2:00. I can talk tomorrow afternoon or review anything y’all send over while I’m moving
from meeting to meeting in the morning.

Re: Phlow, here is information on the

announcement: https://www.hhs.gov/about/news/2020/05/19/hhs‐industry‐partners‐expand‐us‐
based‐pharmaceutical‐manufacturing‐covid‐19‐response.html. You can also find more on
HHS/BARDA’s pharmaceutical manufacturing
website: https://www.medicalcountermeasures.gov/barda/influenza‐and‐emerging‐infectious‐
diseases/coronavirus/pharmaceutical‐manufacturing‐in‐america/

Re: drug list, you can find the FDA drug shortage list
here: https://www.accessdata.fda.gov/scripts/drugshortages/default.cfm.

I’m also adding Alale Allal and Austin Smith to this email. As mentioned on the call yesterday, Alale
is the loan officer on this project. Austin is our COO and has a background in economic development
on the state level.

Thanks again, and look forward to connecting again when we can.

DMG

From: Simonida Subotic <Simonida.Subotic@exec.ny.gov>

Sent: Sunday, July 26, 2020 11:04 AM
To: Glaccum, David (FO)
Cc: Jill DesRosiers; Alexander Cochran; Baitel, Rachael (FO); Allal, Alale; Eric Gertler (esd.ny.gov);
Howard Zemsky (esd.ny.gov); Vincent Esposito (esd.ny.gov)
Subject: Re: David // Alexander Intro ‐ Kodak

David ‐ thanks again for a very productive call yesterday.

We are doing some diligence work today and would rather connect later in the day or tomorrow‐
what time would work in the am? In the meantime, if you could pls share more information about Flo
(sp?) and some examples of end product drug lists ‐ believe you mentioned the FMS list yesterday‐
that would be much appreciated.

Looking forward to connecting again soon,

Simonida

On Jul 25, 2020, at 1:41 PM, Glaccum, David (FO) <David.Glaccum@dfc.gov> wrote:

Thanks, Jill. Any time should over the next couple hours should work.

From: Jill DesRosiers <Jill.DesRosiers@exec.ny.gov>

Sent: Saturday, July 25, 2020 1:38 PM
To: Glaccum, David (FO); Alexander Cochran; Baitel, Rachael (FO); Simonida Subotic
Cc: Allal, Alale
Subject: Re: David // Alexander Intro ‐ Kodak

Apologies added here

Hi David ‐ I'm adding Simonida Subotic, the Governor's Deputy Security for Economic
Development. She has some followup questions. Is there a good time for you today to
connect?
Sent from my BlackBerry 10 smartphone on the Verizon Wireless 4G LTE network.
From: Glaccum, David (FO)
Sent: Saturday, July 25, 2020 12:47 PM
To: Alexander Cochran; Baitel, Rachael (FO)
Cc: Allal, Alale; Jill DesRosiers
Subject: Re: David // Alexander Intro - Kodak

Alexander,

Wanted to follow‐up. Adam (our CEO) and Gov. Cuomo just spoke and the Governor
mentioned wanting to find state incentives to support the project. I’d be happy to
connect with whomever necessary on your team to discuss what that may look like it.
As mentioned below, we would welcome that partnership and I’m sure Kodak would as
well.

Gov. Cuomo also mentioned some update NY PPE firms that are already receiving some
incentives and may soon be receiving advance purchase orders from state hospital
systems. He asked Adam how we may be able to support so I’m also happy to talk with
whomever about how the DPA loan program can support these manufacturers.

Thanks.

DMG

From: Glaccum, David (FO)

Sent: Saturday, July 25, 2020 11:41:07 AM
To: Alexander Cochran <Alexander.Cochran@exec.ny.gov>; Baitel, Rachael (FO)
<Rachael.Baitel@dfc.gov>
Cc: Allal, Alale <Alale.Allal@dfc.gov>; Jill DesRosiers <Jill.DesRosiers@exec.ny.gov>
Subject: RE: David // Alexander Intro ‐ Kodak

Hello, Alexander. My apologies for the delayed response. I know our bosses are in
contact on this as well, but below are answers to the questions you pose. Thanks. –
DMG

Before addressing the specific questions below, I would like to note that this project not
only improves American resiliency in the critical sector of pharmaceutical
manufacturing, it will help bring back manufacturing jobs to the United States. We are
only in the middle of the process, but if we get this loan to completion, it would be a
huge win for the United States and certainly NY.

What is being made with the loan: The loan will be used to convert current facilities and
construct new facilities for the storage of key starting materials (KSMs) and the
manufacturing of active pharmaceutical ingredients (APIs) for critical drugs in shortage
as designated by the FDA.

What does the product go into that’s COVID related for a DPA action: Pharmaceutical
manufacturing is a critical supply chain related to the national response to and recovery
from COVID‐19, and KSMs and APIs are strategic material, the production of which is
essential for national security.

How many jobs versus the amount of the loan: the project is projected to directly
support ~360 new jobs, and indirectly support ~1,200. The size of the loan is
$765,000,000.

Any job creation mandates: No.

Any New York or American goals in the hiring: Specific project related goals would be
included in the finance agreement, which still needs to be established. We are in the
term‐sheet phase.

Is any of the loan forgivable: No.

Any grant as part of the deal: No.

Any MWBE requirements as part of the loan: No.

Any state government connection: No, but we’d welcome any ideas you have on this.
The Governor and our CEO have communicated on this.

From: Alexander Cochran <Alexander.Cochran@exec.ny.gov>

Sent: Friday, July 24, 2020 7:42 PM
To: Baitel, Rachael (FO) <Rachael.Baitel@dfc.gov>
Cc: Glaccum, David (FO) <David.Glaccum@dfc.gov>; Allal, Alale <Alale.Allal@dfc.gov>;
Jill DesRosiers <Jill.DesRosiers@exec.ny.gov>
Subject: Re: David // Alexander Intro ‐ Kodak

Good talking to ya. We will circle back on whether we can make it not. What I do need to
better help our team understand what it is that’s is being announced is the key details.

What’s being made with the loan? What does the product go into that’s covid related for
a DPA action? How many jobs versus the amount of the loan? Any job creation
mandates? Any New York or American goals in the hiring? Is any of the loan forgivable?
Any grant as part of the deal?
Any MWBE requirements as part of the loan? I don’t think there is any state government
connection to this project but if there is let us know.

Those are the types of things we need to see to understand the project and make a
decision as to whether join (assuming the schedule even works as I’m not certain of the
Tuesday schedule).

Thanks for any info y’all can provide related to the above issues or any issues like those.
Whatever you think would be helpful we would love to have to help us

On Jul 24, 2020, at 6:35 PM, Baitel, Rachael (FO) <Rachael.Baitel@dfc.gov>

wrote:

Hi Alexander, Great speaking with you just now! As promised, I am

connecting you with David Glaccum, who is leading our DPA efforts at
DFC. He is best suited to answer your questions.

We look forward to having the Governor with us on Tuesday. Should

you need to reach me, my work cell is

Best,
Rachael