Extract to table

§ 503(a), which provides that the common law rule against perpetuities shall not apply to interests in property held in trust, thereby permitting the Trust to continue in perpetuity

Caldwell further acknowledges that any future issue of the Primary Beneficiaries, born or adopted after the date of this Acceptance, shall also be Descendant Beneficiaries of the Trust in accordance with the terms of the Trust Agreement and the Beneficiary Designation and Per Stirpes Schedule

Caldwell shall act impartially in the administration of the Trust, giving due regard to the respective interests of both current and future beneficiaries, and shall not favor one beneficiary or class of beneficiaries over another except as permitted or directed by the terms of the Trust Agreement

Caldwell understands that the HEMS standard is an ascertainable standard within the meaning of Sections 2041 and 2514 of the Internal Revenue Code and that distributions made pursuant to this standard must be consistent with the beneficiary's accustomed standard of living and the factors enumerated in the Trust Agreement

Caldwell agrees to comply with the Operating Procedures in all respects during his service as both a member of the Distribution Committee and as Family Co-Trustee

In such circumstances, the remaining members of the Distribution Committee shall act in accordance with the procedures specified in the Operating Procedures for conflicted distributions