LEON D. BLACK: TERM SHEET FOR TESTAMENTARY DOCUMENTS Will I. Satisfaction of Pledges: The Executors will pay any outstanding charitable pledges made during Leon's lifetime. 2. Residuary Estate: All of Leon's property will be added to the Revocable Trust. 3. Executors a. Debra, Barry Cohen and Richard Ressler will be co-Executors. b. Successors i. John Hannan will be designated as successor Executor to Barry. ii. Allison Ressler will be designated as successor Executor to Richard. c. Compensation i. Debra will not be entitled to compensation. ii. Other individual Executors may receive $250,000 per year (CPI adjusted) limited to 5 years. Revocable Trust 1. Purpose a. Will substitute. b. Maintain confidentiality. c. Facilitate succession of Trustees without court involvement. 2. During Leon's Life a. Leon will be the sole Trustee and may revoke or amend the Trust Agreement at any time. b. Leon may withdraw, and the Trustees may pay him, income and principal at any time and for any purpose. c. Should Leon become incapacitated, the Trustees may make gifts to Debra, descendants, Judy Black, Shirley Black, and charitable organizations. 3. Upon Leon's Death a. Tangible personal property. Leon is to identify specific works of art as a child's art collection, which is to be "reserved" for such child as of Leon's death. EFTA00584945