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D RULES OF CONSTRUCTION 44 DM US 39479962-2.08883SM' I EFTA00607893 TRUST AGREEMENT made the day of December, 2012, between DEBRA R. BLACK, as Settlor, and DEBRA R. BLACK, LEON D. BLACK and RICHARD RESSLER, as Trustees. I: TRUST FUND The Settlor hereby assigns, transfers and delivers to the Trust
ECIAL DISTRIBUTION RULES 5 V : ADDITIONS 13 VI : TRUSTEES' INVESTMENT AND ADMINISTRATIVE POWERS 15 VII : RESTRICTIONS ON POWERS 27 VIII : IRREVOCABILITY; MODIFICATION 30 IX : ACCOUNTING BY TRUSTEES 34 X : TRUSTEE DESIGNATIONS, RESIGNATIONS, AND REMOVALS 36 XI : ACTION BY TRUSTEES 41 XII :
5.081183S.00 I I EFTA00616778 WHEREAS, by trust agreement dated December 21, 2006 by and among LEON D. BLACK, as settlor (the "Settlor"), and the Settlor and JOHN J. HANNAN ("JOHN"), as trustees (the "Original Trust Agreement"), as amended on , 2012, the BLACK 2006 FAMILY TRUST (the "Trust") was cre
IAL DISTRIBUTION RULES 15 VI : ADDITIONS 21 VII : TRUSTEES' INVESTMENT AND ADMINISTRATIVE POWERS 23 VIII : RESTRICTIONS ON POWERS 41 IX : IRREVOCABILITY; MODIFICATION 45 X : ACCOUNTING BY TRUSTEES 49 XI : TRUSTEE DESIGNATIONS, RESIGNATIONS, AND REMOVALS 50 XII : ACTION BY TRUSTEES 59 XIII
greement, the Independent Trustees (as defined in the Original Trust Agreement) may amend the Original Trust Agreement at any time while either the Settlor or DEBRA is alive and not under a disability, subject to certain prohibitions set forth in section (B) of article III of the Original Trust Agreeme
IAL DISTRIBUTION RULES 15 VI : ADDITIONS 19 VII : TRUSTEES' INVESTMENT AND ADMINISTRATIVE POWERS 20 VIII : RESTRICTIONS ON POWERS 39 IX : IRREVOCABILITY; MODIFICATION 42 X : ACCOUNTING BY TRUSTEES 46 XI : TRUSTEE DESIGNATIONS, RESIGNATIONS, AND REMOVALS 48 XII : ACTION BY TRUSTEES 56 XIII
Entities connected to both Settlor and IRREVOCABILITY

Samantha Power
PERSONLeon Black
PERSON
Michael Cohen
PERSON
Barry Diller
PERSONthe State of New York
LOCATIONALEXANDER SAMUEL BLACK
PERSONBENJAMIN ELI BLACK
PERSONJOSHUA MAX BLACK
PERSONthe Benefit of Trustees
ORGANIZATIONTrust Fund
ORGANIZATIONRemainder Interests
ORGANIZATIONthe Settlor's Children
ORGANIZATIONJudicial Settlement of Accounts
ORGANIZATIONRelease or Suspension of Powers
ORGANIZATIONReliance
ORGANIZATIONTrusts
ORGANIZATIONthe Personal Representatives
ORGANIZATIONthe "Pledging Trust
ORGANIZATIONany Person or Persons
ORGANIZATIONthe Beneficiaries of the Pledging Trust
ORGANIZATION