EFTA01266298.pdf

THE JEFFREY E. EPSTEIN 2001 TRUST ONE
I am the Grantor of THE JEFFREY E. EPSTEIN 2001 TRUST
ONE ("the trust").
Pursuant to Article FIFTEENTH of the trust, I have the power
to amend the trust.
I hereby amend the trust as follows:
FIRST
I hereby remove JEFFREY A. SCHANTZ as a co-Trustee of
the trust and designate GHISLAINE MAXWELL and IRA ZICHERMAN as
successor co-Trustees in his place.
SECOND
I hereby delete Article TWELFTH of the trust and substitute in
its place the following new Article TWELFTH:
"TWELFTH
The Grantor makes the following provisions with respect to the
Trustees:
(a) The last acting Trustee is authorized to designate one or
more additional or successor Trustees by a written and acknowledged
instrument. Designations shall be in writing and may be revoked in writing
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by the maker thereof at any time prior to the qualification of the person
designated.
(b) Any Trustee may resign by giving notice to take effect on
the date specified in said notice.
(c) A Trustee may resign or qualify only by a written
instrument mailed or delivered to the Grantor or a Trustee then acting.
(d) No Trustee acting hereunder shall be liable for any loss
or damage which may occur hereunder, unless due to willful default,
deliberate wrongdoing, or willful violation of an express provision hereof
(e) No Trustee at any time acting hereunder shall be required
to (i) give any bond, undertaking, or other security for the faithful
performance of his duties in any jurisdiction, or be liable for the acts or
omissions of any other Trustee, (ii) file periodic reports in or to any court or
(iii) give notice of appointment as Trustee to any court. Each Trustee acting
hereunder is specifically relieved from any and all of the duties which would
otherwise be placed upon him by Chapter 59 of Title 15 of the Virgin
Islands Code.
(f) Any reference herein to the Trustees shall include
survivors, successors and additional Trustees.
2
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The Grantor authorizes the Trustees to (i) divide any trust into
separate trusts and (ii) combine separate trusts with substantially similar
provisions."
IN WITNESS WHEREOF, the undersigned have executed this
agreement on the Z--) day of )44-•-- , 2003.
e Max ell, Trustee
Ira Ziche n, Trustee
—Trim ef- vvvyw toActi )
• nt-g-4* civimpo-skaiw ) ss.,
)
On the 02 r t. day of bout in the year 2003, before me, the
undersigned, personally eared JEFFREY E. EPSTEIN, personally known
to me or proved to me on the basis of satisfactory evidence to be the
individual whose name is subscribed to the within instrument and
acknowledged to me that he executed the same in his capacity, and that by
his signature on the instrument, the individual or t person upon behalf of
which the individual acted, executed the instru
d4/
Notary Public
PAUL HOFFMAN
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NOTARY PUBLIC
COMMISSION NO. LNP011-00
COMMISSION WIRES JUNE 2,7 2004
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5r4-Te- Or id y
CO +Li, 9 Hy ) ) ss.:
On the i ei... day of in the year 2003, before me, the
&IV
undersigned, personally appeared GHISLAINE MAXWELL, personally
known to me or proved to me on the basis of satisfactory evidence to be the
individual whose name is subscribed to the within instrument and
acknowledged to me that she executed the same in her capacity, and that by
her signature on the instrument, the individual or the person upon behalf of
which the individual acted, executed the instrument.
HARRY I. BELLER
Notary Public. State of New York
No. 018E4853924 0,- Not ubli
Qualified in Rockland County
Commission Expires Feb. 17. 20—P
57-trre: of ^.1
)
) ss.:
op 7
A i
)
On the /5— day of ""1 44-t in the year 2003, before me, the
undersigned, personally appeared IRA ZICHERMAN, personally known to
me or proved to me on the basis of satisfactory evidence to be the individual
whose name is subscribed to the within instrument and acknowledged to me
that he executed the same in his capacity, and that by his signature on the
instrument, the individual or the person upon behalf of which the individual
acted, executed the instrument.
a .Th(44 a
Notary Public
ANNA N. VERO
NOTARY PUBUG, Strie 01N ew 11:di
No. °IVES:0450
Ounned In Nom Cove A.,
20
Commission Expires May 14,
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THE JEFFREY E. EPSTEIN 2001 TRUST ONE
TRUST AGREEMENT dated November 8, 2001, between JEFFREY E.
EPSTEIN, as Grantor, and JEFFREY E. EPSTEIN and JEFFREY A. SCHANTZ, as
Trustees.
The Grantor hereby transfers to the Trustees the property described in
Schedule A annexed hereto, to be administered and disposed of as provided in this
Agreement.
FIRST
The Trustees shall retain such property, IN TRUST, for the following
purposes:
I
(a) To pay any part or all of the income and such sums from or any
part or all of the principal of the trust as the Trustees, in their discretion, from time to
time determine for any reason whatsoever to, for, or on behalf of the Grantor. Any
income not so paid shall annually be added to the principal.
(b) On the death of the Grantor, to dispose of the remaining income
and principal of this Trust, including any property received by this trust as a result of the
Grantor's death pursuant to his will or otherwise, as follows:
II
(a) Ten million dollars ($10,000,000) shall be distributed to the
Trustees of The Jeffrey E. Epstein 2001 Trust Two.
(b) Ten million dollars ($10,000,000) shall be distributed to the
Grantor's brother, MARK LAWRENCE EPSTEIN, if he is then living, or if not to his
issue who are then living.
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(c) Ten million dollars ($10,000,000) shall be distributed to JEFFREY
A. SCHANTZ, if he is then living, or if not to his issue who are then living.
(d) The Grantor forgives the following debts:
(1) The indebtedness, if any, owed to the Grantor by his
brother, MARK LAWRENCE EPSTEIN;
(2) The indebtedness, if any, owed to the Grantor by his
cousin, ROBERT GOODMAN; and
(3) The indebtedness, if any, owed to the Grantor by his friend,
ROBERT GOLD.
III
If the 1998 JEFFREY EPSTEIN INSURANCE TRUST does not pay the
sum of at least five million dollars ($5,000,000) on the Grantor's death to issue of the
Grantor's grandparents, as determined by the Grantor's mother, PAULA EPSTEIN and
the Grantor's brother, MARK LAWRENCE EPSTEIN or if they do not survive the
Grantor, by the Grantor's cousin, ROBERT GOODMAN, an amount equal to the
difference between five million dollars ($5,000,000) and the amount paid to such issue of
the Grantor's grandparents from the 1998 JEFFREY EPSTEIN INSURANCE TRUST,
shall be paid by the Trustees to such issue of the Grantor's grandparents who survive the
Grantor, including but not extending beyond the Grantor's second cousins, and in such
shares as shall be determined by the Grantor's cousin, ROBERT GOODMAN. If
ROBERT GOODMAN is the person determining the allocation of this sum, five hundred
thousand dollars ($500,000) shall be paid to him out of the total gift of five million
dollars ($5,000,000), and no further sums are to be allocated by him to himself, his
spouse or his issue.
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(3) Upon the death of the beneficiary prior to her thirty-fifth
birthday, to pay the then remaining principal of The Celina Dubin Trust, if any, to her
issue then living, or if she has no such issue to EVA ANDERSSON DUBIN, if she is
then living, or if not to the then living issue of EVA ANDERSSON DUBIN, or if none to
EPSTEIN INTERESTS; a New York not-for-profit trust.
V
(a) GHISLAINE MAXWELL shall designate, within thirty days of the
Trustees giving notice to her of the Grantor's residential properties, one of the Grantor's
residential properties as the EVA ANDERSSON DUBIN Property and such residential
property and the tangible personal property, including art, customarily used in connection
therewith shall be distributed by the Trustees to EVA ANDERSSON DUBIN, if she is
then living. If such designation has not been timely made by GHISLAINE MAXWELL.,
then the Grantor's Palm Beach residence and the tangible personal property, including
art, customarily used in connection therewith shall be distributed by the Trustees to EVA
ANDERSSON DUBIN, if she is then living. If the Palm Beach residence was not owned
by the Grantor at the time of his death, then EVA ANDERSSON DUBIN, if she is then
living, shall select one of the Grantor's residential properties and such residential
property and the tangible personal property, including art, customarily used in connection
therewith shall be distributed by the Trustees to EVA ANDERSSON DUBIN.
(b) The Trustees shall dispose of the balance of such property as
provided in paragraph (c) below if the spouse of the Grantor is then living, or as provided
in paragraph (d) below if there is no spouse of the Grantor then living but there are any
issue of the Grantor then living, or as provided in paragraph (e) below if there is no
spouse or any issue of the Grantor then living.
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(c) Any property which is directed any time to be disposed of as
provided in this paragraph shall distributed to the Trustee, IN SEPARATE TRUST, for
the following purposes:
(I) To pay the income to the spouse of the Grantor at least
quarter-annually.
(2) The spouse of the Grantor shall have the exclusive and
unrestricted right to use any residences which are part of this trust during her life,
including the right to occupy the property without charge as a personal residence or to
rent such property and receive the income.
(3) To pay to the spouse of the Grantor at any time or times
during the continuance of the trust such sums from or any part or all of the income and
principal as the Trustees may, in their discretion, determine to the advisable and annually
to add to principal any income not paid to the beneficiary.
(4). The Grantor intends that any part of the trust for the benefit
of his spouse with respect to which a QTIP election can be made qualify for the marital
deduction. Accordingly, no authorization, direction, or other provision that would
prevent property passing to the trust for the Grantor's spouse from so qualifying shall
apply to the trust.
(5) Upon the death of the Grantor's spouse, to pay the then
remaining principal of the trust as provided in paragraph (d) below if any issue of the
Grantor are then living, or if not, as provided in paragraph (e) below.
(d) My property which is directed at any time to be disposed of as
provided in this paragraph shall be divided into as many equal shares as there are children
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of the Grantor who are then living and children of the Grantor who are not then living but
who have left issue then living. One such share shall be set apart for the benefit of each
child of the Grantor who is then living and one such share shall be set apart, collectively,
for the benefit of the then living issue of each deceased child of the Grantor. Each share
set apart collectively for the benefit of the then living issue of a deceased child of the
Grantor shall be further divided into as many equal shares as shall make one equal share
for the benefit of each then living child of such deceased child of the Grantor and one
share, collectively, for the benefit of the then living issue, if any, of any deceased child of
such deceased child of the Grantor. Each share so set apart shall be disposed of as
provided in article SECOND.
(e) Any property which is directed at any time to be disposed of as
provided in this paragraph shall be distributed to the Trustees, IN SEPARATE TRUST,
for the following purposes:
(1) To pay all the expenses of maintaining any residences,
boats and airplanes held in this trust out of the income of the trust and to pay the balance
of the income to GHISLAINE MAXWELL at least quarter-annually.
(2) To pay to GHISLAINE MAXWELL at any time or times
during her life such other sums from or any part or all of the principal of the trust as the
Trustees may, in their discretion, determine to be advisable.
(3) Upon GHISLAINE MAXWELL's death, or upon the death
of the Grantor, if GHISLAINE MAXWELL predeceases the Grantor:
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(A) If EVA ANDERSSON DUBIN is then living, the
remaining trust assets shall be held by the Trustees, IN SEPARATE TRUST, for the
following purposes:
(i) To pay all the expenses of maintaining any
residences, boats and airplanes held in this trust out of the income of the trust and to pay
the balance of the income to EVA ANDERSSON DUBIN at least quarter-annually.
(ii) To pay EVA ANDERSSON DUBIN at any
time or times during her life such other sums from or any part or all of the principal of the
trust as the Trustees may, in their discretion, determine to be advisable.
(iii) Upon EVA ANDERSSON DUBIN's death,
the remaining trust assets shall be disposed of as provided in subsection (4) below.
(B) If EVA ANDERSSON DUBIN is not then living,
the remaining trust assets shall be disposed of as provided in subsection (4) below.
(4) Any property required to be disposed of as provided in this
subsection (4) shall be divided into as many equal shares as shall make one equal share
for each child of EVA ANDERSSON DUBIN who is then living, one equal share for
each child of MARK LAWRENCE EPSTEIN who is then living, one equal share (to be
divided into subshares) for the issue, collectively, of each child of EVA ANDERSSON
DUBIN who is not then living, but who shall have died leaving issue then living, and one
equal share (to be divided into subshares) for the issue, collectively, of each child of
MARK LAWRENCE EPSTEIN who is not then living, but who shall have died leaving
issue then living, and such shares and subshares shall be distributed to such persons,
except that any share or subshare of a person then under the age of thirty shall be retained
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by the Trustees, IN SEPARATE TRUST, for the benefit of such person ("the
beneficiary") for the following purposes:
(A) To pay to the beneficiary at any time or times
during the continuance of the trust such sums from or any part or all of the income and
principal as the Trustees may, in their discretion, determine to be advisable and annually
to add to principal any income not paid to the beneficiary.
(B) To pay to the beneficiary upon attaining the age of
thirty years the then remaining principal, if any.
(C) Upon the death of the beneficiary prior to his
thirtieth birthday, to pay the then remaining principal, if any, to his issue then living, or if
he has no such issue to EPSTEIN INTERESTS.
SECOND
Any property directed to be set apart for the benefit of a living child of the
Grantor ("the beneficiary") or for the benefit of a living issue of any deceased child of the
Grantor ("the beneficiary") and disposed of as provided in this article shall be retained by
the Trustees, IN SEPARATE TRUST, during the life of the beneficiary or until the
earlier termination of the trust, for the following purposes:
(a) In the discretion of the Trustees, to pay any part or all of the
income to the child of the Grantor or issue of a deceased child of the Grantor and
annually to add to principal any income not so paid.
(b) To pay to the child of the Grantor or issue of a deceased child of
the Grantor at any time or times during the continuance of the trust such sums from or
any part or all of the principal of the trust as the Trustees may, in their discretion,
determine to be advisable.
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(c) Upon the death of the beneficiary, the then principal and
accumulated income of the trust for his or her benefit shall be held, IN FURTHER
TRUST, pursuant to the terms set forth in this article SECOND, for the benefit of the
beneficiary's issue then living, or if he or she has no such issue then living for the benefit
of the Grantor's issue then living, except that the share of any issue of the Grantor for
whose benefit a trust is then in existence pursuant to the provisions of this article shall
instead be added to the principal of such trust to be administered and disposed of by the
Trustees as if a part thereof from the inception of the trust. If the Grantor also has no
issue then living, the Trustees shall pay the balance thereof as provided in paragraph (e)
of article FIRST section V.
(d) Notwithstanding any provision in this trust agreement to the
contrary, each trust created hereunder, if not previously terminated, shall terminate on the
twenty-first anniversary of the death of the last survivor of EVA ANDERSSON DUBIN
and the children of EVA ANDERSSON DUBIN, in being on the date of the Grantor's
death, and thereupon the principal shall be distributed to the beneficiary of such trust then
eligible to receive the income of the trust.
THIRD
With respect to the charitable dispositions made pursuant to article FIRST,
the Grantor directs that if EPSTEIN INTERESTS or any successor charity is not an
organization contributions to which are deductible for federal estate, gift and income tax
purposes (a "qualified charitable organization") at the time any property is to be paid to
it, or if EPSTEIN INTERESTS or such successor charity shall not then exist, the Grantor
authorizes the Trustees to establish a qualified charitable organization, with JEFFREY A.
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SCHANTZ and JOSEPH PAGANO as the members, directors and trustees thereof, and
to instead pay such property to such organization.
FOURTH
If, pursuant to a mandatory distribution of principal, any minor becomes
entitled to any share of the principal of any trust created hereunder, the property
constituting such share shall be retained by the Trustees, IN SEPARATE TRUST, to pay
to such minor any part or all of the income, including income previously accumulated,
and the principal as the Trustees may, in their discretion, determine to be reasonably
necessary for the minor's support, maintenance, education, health or other benefit, or, in
the case of income, accumulate any part or all for his benefit. All income and principal
not previously paid as above authorized shall be paid to such minor upon his attaining the
age of twenty-one years, or in the event of and upon his prior death to his estate.
FIFTH
Any income or principal the Trustees are authorized in their discretion to
pay to a minor may, in the discretion of the Trustees, be paid for the benefit of such
minor to a parent or guardian of such minor, or to the custodian for such minor under the
Uniform Gift to Minors Act, or similar Act, of an appropriate state. The receipt of the
parent, guardian or custodian to whom any income or principal is paid shall be a full
discharge of the Trustees from liability with respect to such payment and from further
accountability therefor.
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SIXTH
Wherever the Trustees are directed or authorized to pay income or
principal to any person, the Trustees shall be authorized in their discretion to apply
income or principal to or for the use of such person.
SEVENTH
In exercising any discretion the Trustees, or such of them as are authorized
to act, may, but shall not be required to, consider and accept as correct any statement
which they believe to be reliable made by any person, including a person interested in the
way in which the discretion is exercised. The Trustees, in exercising any discretionary
authority given to them under any provision of this agreement, shall not be required to
take into account any other resources of income or of principal available to the person to
whom a distribution is under consideration.
EIGHTH
The word "issue" as used in this agreement shall mean issue per stirpes.
The word "discretion" as used in this agreement shall mean "sole, exclusive, and
unrestricted discretion." The word "taxes" as used in this agreement shall include all
interest thereon and penalties with respect thereto. Unless the context otherwise requires,
the use of the masculine and feminine shall be interchangeable, and the use of the
singular and plural shall be interchangeable. The words "the Grantor's residential
properties" shall include all residences owned by the Grantor, whether directly or
indirectly, and whether owned in trust, corporate, corporate nominee, limited liability
company, partnership or any other form of ownership.
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NINTH
All estate, succession, legacy, generation skipping transfer taxes and
inheritance taxes, federal, state, and other, which may be payable by reason of the
Grantor's death, whether in respect of property passing under this agreement or in respect
of property not passing under this agreement, shall be paid out of the property disposed of
pursuant to article FIRST section V paragraph (b).
TENTH
In extension and not in limitation of authority which the Trustees would
otherwise have pursuant to law or pursuant to other provisions of this agreement, the
Grantor directs that they have the following discretionary powers:
(a) To retain for as long a period of time as they may consider
advisable or proper any property of any kind which may at any time be in their hands.
(b) To sell at public or private sale or to exchange any property which
may at any time be in their hands, without application to court, on any terms which they
may consider advisable or proper, including terms involving an extension of credit for
any period of time and with or without security.
(c) To invest in or otherwise acquire any property, real or personal, of
any kind, without limitation, without being bound by any provision of law restricting
investments by trustees, including but not limited to common and preferred stocks,
domestic or foreign, interests in partnerships and limited liability companies, secured and
unsecured obligations, mutual and common funds, other securities, mortgages,
commodity futures and contracts, repurchase agreements, and interests and options in any
of the foregoing.
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property that is like or different from the property used to make any other distribution to
any other trustee, beneficiary or remainderman.
(k) To operate, repair, alter and improve any real property which they
may hold or in which they may hold an interest or a participation; to erect or demolish
buildings thereon; to enter into leases for such real property or any part thereof or any
interest or participation therein for any period of time; to mortgage such real property or
any part thereof or any interest or participation therein for any period of time; to grant
options with respect to such real property, mortgages and leases or any interest or
participation therein for any period of time; to perform, modify, waive provisions of,
extend, renew, terminate or otherwise act in respect of any such leases, mortgages or
options; to cause such real property or any interest or participation therein or any part
thereof and themselves to be insured against any and all risks; to retain an agent or agents
for any of the foregoing purposes; and to do or omit to do anything of any kind or nature
with respect to any such real property or any part thereof or any interest or option with
respect thereto and the management thereof which they may in their discretion consider
advisable, whether or not such act or omission is hereinabove specifically mentioned,
without being bound by any restrictions which might otherwise be applicable and without
court approval.
(I) To determine, in case of reasonable doubt on their part, whether
any property coming into their hands constitutes income or principal, and whether any
payment or expenditure made by them shall be charged to income or to principal.
(m) To retain any interest in, to invest in and become a member of, any
real estate partnership or joint venture; to comply with all the terms and provisions of
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every real estate partnership or joint venture relating to any investment at any time held
by them; to succeed the Grantor as a member of any such partnership or joint venture,
and to vote, execute consents, exercise all rights and take such other action with respect
to any real estate partnership or joint venture as they, in their discretion, deem advisable.
(n) To become or continue to be an officer, director, or employee of
any corporation, the stock of which may be owned by the Grantor's estate or the trust
created hereunder and as such officer, director or employee to receive a salary, bonus, or
other compensation in reasonable amount for services rendered to said corporation.
(o) To delegate to any one of the Trustees any nondiscretionary power,
including but not limited to the power, singly or with others, to sign checks, withdrawal
slips, instructions for the receipt or delivery of securities or other property, and
instructions for the payment or receipt of money, and the power, singly or with others, to
have access to any safe deposit box or other place where property of any trust created
pursuant to this agreement is deposited.
(p) To transfer any property which they may at any time hold to any
jurisdiction which they deem advisable.
In addition to the foregoing discretionary powers, the Grantor directs that
in the administration of any trust created hereunder, except any trust created for the
benefit of the Grantor's spouse which would otherwise qualify for a marital deduction,
the Trustees shall have discretionary power to permit funds to remain uninvested, and to
retain for an unlimited period of time and to retain property which is not productive of
income.
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If any power, authority or discretion granted to the Trustees would operate
to deprive the Grantor's estate in whole or in part of the marital or charitable deduction
afforded under federal or state law, the Grantor directs that such power, authority or
discretion shall not be applicable to any gift to the Grantor's spouse or to any trust
created for her benefit which would otherwise qualify for a marital deduction or to any
property which would otherwise qualify for a marital or charitable deduction and which
constitutes part or all of any such gift or of such trust.
The Trustees shall continue to have all the powers herein vested in them
until the final distribution of all property in their hands.
ELEVENTH
(a) No part of the income or principal of any trust hereunder may be
transferred, assigned, sold or otherwise alienated by any beneficiary, or become subject
to the debts of any beneficiary.
(b) The judgment of the Trustees as to the payment of income and
principal to any person shall be conclusive and shall not be subject to judicial review. It
is the Grantor's intention that the Trustees shall have unrestricted discretion to withhold
income and principal from any beneficiary and that no court shall be authorized to direct
an allowance from the income or principal of any trust to any beneficiary without the
consent of the Trustees.
TWELFTH
The Grantor makes the following provisions with respect to the Trustees:
(a) JEFFREY A. SCHANTZ is authorized to designate one or more
additional or successor Trustees and is further authorized to remove any Trustee acting
hereunder by a written and acknowledged instrument. Designations shall be in writing
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and may be revoked in writing by the maker thereof at any time prior to the qualification
of the person designated.
(b) If JEFFREY A. SCHANTZ resigns, or at any time ceases to act as
Trustee, without having designated an additional or successor Trustee, the Grantor
appoints DARKEN INDYKE as Trustee in his place.
(c) Any Trustee may resign by giving notice to take effect on the date
specified in said notice.
(d) A Trustee may resign or qualify only by a written instrument
mailed or delivered to the Grantor or a Trustee then acting.
(e) No Trustee acting hereunder shall be liable for any loss or damage
which may occur hereunder, unless due to willful default, deliberate wrongdoing, or
willful violation of an express provision hereof.
(f) No Trustee at any time acting hereunder shall be required to (i)
give any bond, undertaking, or other security for the faithful performance of his duties in
any jurisdiction, or be liable for the acts or omissions of any other Trustee, (ii) file
periodic reports in or to any court or (iii) give notice of appointment as Trustee to any
court. Each Trustee acting hereunder is specifically relieved from any and all of the
duties which would otherwise be placed upon him by Chapter 59 of Title 15 of the Virgin
Islands Code.
(g) Any reference herein to the Trustees shall include survivors,
successors and additional Trustees.
The Grantor authorizes the Trustees to (i) divide any trust into separate
trusts and (ii) combine separate trusts with substantially similar provisions.
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THIRTEENTH
The Grantor, or any other person, with the consent of the Trustees, shall
have the right to make additions to any trust hereunder by will or otherwise by
transferring to the Trustees additional real or personal property.
FOURTEENTH
The Trustees hereby accept the trust and agree to execute it to the best of
their ability.
FIFTEENTH
The Grantor retains the right at any time or times during his life to revoke,
in whole or in part, this agreement and the trust created hereunder and to receive the
entire income and principal.
The Grantor retains the right at any time or times during his life to amend
this agreement and the trust created hereunder.
The Grantor may revoke or amend this agreement and the trust created
hereunder by a written and acknowledged instrument. The right to revoke or amend the
trust shall be a personal right of the Grantor and may not be exercised on his behalf by
any guardian, conservator, committee or other such entity.
This Agreement and the trust created hereunder shall become irrevocable
and unamendable upon the Grantor's death.
SIXTEENTH
If any beneficiary under this trust shall in any way directly or indirectly (a)
contest or object to the probate of the Grantor's will or to the validity of any disposition
or provision of the Grantor's will or of this trust or (b) institute or prosecute, or be in any
way directly or indirectly instrumental in the institution or prosecution of, any action,
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proceeding, contest, objection or claim for the purpose of setting aside or invalidating the
Grantor's will or this trust or any disposition therein or provision thereof, then the
Grantor directs that (a) any and all provisions in this trust for such beneficiary and his
issue in any degree shall be null and void and (b) the trust property shall be disposed of as
if such beneficiary and his issue in any degree had all failed to survive the Grantor.
SEVENTEENTH
This Agreement and the trust hereby created shall be construed and
governed by the laws of the United States Virgin Islands applicable to agreements made,
delivered and performed therein.
EIGHTEENTH
This Agreement and the trust created hereunder may be referred to as "The
Jeffrey E. Epstein 2001 Trust ONE."
IN WITNESS WHEREOF, the undersigned have executed this agreement
as of the day and year first above written.
JEFFREY E. EP
JEFFREY
JEFFREY A. S Z, T tee
19
100172258-11
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SCFIEDULE A
CASH $100.00
10017223.11
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som 0.1000071.7
1317,1101205.59
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STATE OF NEW YORK )
) ss.:
COUNTY OF NEW YORK )
On the 81h day of November in the year 2001, before me, the undersigned, personally
appeared JEFFREY E. EPSTEIN, personally known to me or proved to me on the basis
of satisfactory evidence to be the individual whose name is subscribed to the within
instrument and acknowledged to me that he executed the same in his capacity, and that by
his signature on the instrument, the individual or the person upon behalf of which the
individual acted, executed the instrument.
Notary P
LAUREN J. KWINTNER
STATE OF NEW YORK ) Notary Public, State of New Writ
) ss.: No. 02KW6016688
°unfilled In New York County
COUNTY OF NEW YORK ) Commission Expires November 30. 20 =.
On the gib day of November in the year 2001, before me, the undersigned, personally
appeared JEFFREY A. SCHANTZ, personally known to me or proved to me on the basis
of satisfactory evidence to be the individual whose name is subscribed to the within
instrument and acknowledged to me that he executed the same in his capacity, and that by
his signature on the instrument, the individual or the person upon behalf of which the
individual acted, executed the instrument.
LAUREN J. KWINTNER
Notary Public, State of New York
No. 02KW6016688
°unfilled in New York County
Commission Expires November 30, 20 £2
100172258-I)
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