EFTA01120720.pdf

Original In Vauft of Bingham McCutchen LLP One Federal St. Boston, MA. 02110 MORTIMER B. ZUCKERMAN 950 Fifth Avenue New York, New York 10021 July , 2008 Personal & Confidential Ms. Marla Prather 17 East 75th Street New York, NY 10075 Dear Marla: Agreement requires that I make provisions for a We are parties to a Separation Agreement dated November 30, 2000, that includes provisions for the inheritance of our daughter . Section 5(F) of the Separation to receive the "Child's Amount," as defined in the Agreement. It also provides that, while both of us are living, we have the right, in our mutual and absolute discretion, to modify that provision in any way by an amendment to Section 5(F). This letter constitutes an amendment to Section 5(F) that sets out our current agreement regarding inheritance. We have agreed that Section 5(F) of the Separation Agreement will continue to apply, with the following modifications.: First, we have agreed that the "Child's Amount" determined under Section 5(F) will not exceed the sum of Two Hundred Million ($200,000,000 Dollars reduced by the value as of the date of my death of any assets held for benefit in The Mortimer B. Zuckerman 1983 Trust, The MBZ News 1992 Trust, and The MBZ 1996 Trust. The Child's Amount will also be reduced by the value as of the date of my death of any assets held for benefit in any successor to any of those trusts or in any other trust established during my lifetime. that includes substantially similar provisions for benefit. I have also executed irrevocable designations appointing you as a co-trustee of each of the existing trusts following my death and will execute a similar, irrevocable designation with respect to any additional trusts that are taken into account in determining the Child's Amount. Second, I have agreed to the following provisions that will apply to any property that I am using as my principal residence in New York City and to one other property that I am using as my summer vacation residence at the time of my death. To the extent I have not so provided during my lifetime, I gee provisions for the ownership of those properties to pass to or in trust for at 14/72585057.1Emr! TilliellOWO document property met. EFTA01120720  Ms. Marla Prather July , 2008 Page 2 my death, subject to any then-existing mortgages that are within the customary range of home mortgage arrangements. Those properties will be in addition to and not part of the Child's Amount and will not be taken into account in determining the limitation on the Child's Amount under the preceding paragraph. The provisions in this letter and in Section 5(F) will continue to be subject to our right, in our mutual and absolute discretion, to modify or revoke such provisions by an amendment to Section 5(F). Acknowledged and to this 71" day of ootp ,,,,- ,2,40s/ 2008. 11(lax&IPAA--7 Marla Prather Error! Unknown document property tame. A/72585057.I EFTA01120721  STATE OF NEW YORK ) ) COUNTY OF A.baqweic ) On this 7 day of 0e-Sce, 2008, before me, the undersigned, a Notary Public in and for the State of New York, personally appeared MORTIMER B. ZUCKERMAN, 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 executed the instrument. My commission expires: oe ce/0 LAURIE HURST STATE OF /0624 rote Note/ itjoixeieof Now Vs* iSta PubNo01 No. Qualified In Richriand2gaunty COUNTY OF Net4 fid e Connisekat Expkee Feb 2, 2011E On this 9 day of Oatteet, 2008, before me, the undersigned, a Notary Public in and for the State of of itleAlod.4 , personally appeared MARLA PRATHER, 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 executed the instrument. Notary Public My commission expires: 02/4-40 LAURIE HURST Notary Public, State of New librk No. 01H U8002120 Qualified in Richmond County Commission Expires Feb.2, 2014„, A/72585057.1Errorl Unknown document property urns EFTA01120722