Paris: Yeah, well, that is what is brings on the drive you will be experiencing.

Bette: Okay, lets’ get on with the agenda. First of all, James, I want to tell you how much I have appreciated you as my assistant and as the gallery manager for all these years. No one could have done the job like you have. No one would have put up with me like you have. And I appreciate it more than you know.

James: It’s been a really pleasure and a privilege to work for you Bette. I appreciate the confidence you have expressed in me by increasing my responsibility and my knowledge of the gallery business.

Paris: I have been really impressed with your talent and your drive to make the gallery successful and to achieve the things we have achieved. I have really enjoyed working with you.

James: I’ve enjoyed working with you as well. And I hope to continue to do so.

Bette: That is what we want to talk to you about James. We have talked about this and we think that the time has come to terminate our working relationship with the gallery. I believe that the time has come that you should take complete charge of the gallery. So as of December 31^st, I will no longer be a member of the board of directors nor an officer at Porter Gallery of Los Angeles. All compensation to me will cease as of that date. In addition, I am going to transfer 100 percent of the stock in Porter Gallery I own which is 51% of the outstanding stock to you. With your 16%, you will then own two thirds of the stock in Porter Gallery of Los Angeles. I plan to make the transfer effective on December 31^st of this year. Oh, as for this past year, the gallery may retain any and all bonuses which I am normally entitled to as a result of my compensation contract and my ownership of the stock in the gallery.

James: You are giving me your shares of Porter Gallery of Los Angeles? How much is this going to cost me? I don’t think I have the funds to buy that much of the stock.

Bette: Its’ your Christmas gift James. I am not selling it to you. I am gifting it to you.