EFTA01077955.pdf

Such an Emancipation event shall be deemed terminated and nullified upon cessation by the Child for any reason from full-time employment, and the period, if any, from Such a termination until the earliest of any other Emancipation event shall, for all purposes under this Paragraph, be deemed a period prior to the occurrence of an Emancipation event; 3. Marriage; 4. Departure from the homes of both parties (other than to attend a boarding school, college, undergraduate or graduate educational institution) and establishment of another permanent residence. Notwithstanding the foregoing, if the.Child abandons such other permanent residence and resumes living with either party prior to the occurrence of any other Emancipation event, the Emancipation event caused by the Child's departure from the homes of both parties shall be deemed terminated and nullified upon the return by the Child to live in the home of either party and the period, if any, from such a termination until the earliest of any other Emancipation event shall, for all purposes under this Paragraph, be deemed a period prior to tho occurrence of an Emancipation event; or 5. Death. F. Inheritance Provisions. The Husband agrees to provide by his Will, by beneficiary designation or otherwise, including by one or more trusts created during his lifetime, that an aggregate of no less than twenty-five percent (25%) of his Adjusted Gross Estate, as hereinafter defined (the "Child's Amount"), shall pass during his lifetime or as a result of his death to or for the benefit of the Child, outright or in trust, in such amounts or proportions and subject to such terms and conditions, as the Husband shall determine in his sole discretion. Notwithstanding the foregoing, if the Husband transfers all or part of the Child's Amount to the Child in bust (rather than outright), his Will or the applicable trust agreement shall (i) direct that 678457.13 - 15 - EFTA01077955  at a minimum, the Trustees shall use the income and principal of the trust to provide for the health, education, maintenance and support of the Child, and (ii) designate the Wife to serve as a co-Trustee of such trust. The parties do not intend, while both parties are living, that the Child shall be able to enforce the provisions of this Subdivision as a third party beneficiary and, thus, the parties shall have the right, in their mutual and absolute discretion, to revoke or modify this Subdivision in any way by an amendment hereto executed in accordance with the provisions of Section 26(H) of this Agreement. Upon the death of either party, the provisions of this Subdivision as then in effect, if at all, shall become irrevocable and the Child shall have the right as a third party beneficiary to enforce such provisions. For purposes of this Subdivision, the term "Adjusted Gross Estate" shall mean the Husband's gross estate, reduced by the expenses of his last illness, debts (other than any obligations of the Husband's estate pursuant to the terms of this Agreement), administration expenses and Amoral expenses, all as finally determined in the federal estate tax proceeding relating to the Husband's estate. The parties confirm that in determining the Child's Amount, the Husband's gross estate shall not be reduced by any obligations of the Husband's estate to the Child or the Wife pursuant to the terms of this Agreement. The parties further confirm that if a trust is used in whole or in part to satisfy the Child's Amount, the income and principal of such trust shall not be used to satisfy the Husband's obligation to make the financial provisions for the Child provided in Subdivisions A through D . . of this Section, which shall remain the Hueband'S obligation and shall be binding upon his Ostate: Any disposition to or for the benefit of the Child shall be subject to its proportionate share of estate, succession and inheritance taxes. 618637.13 - 16 EFTA01077956