JEFFREY E. EPSTEIN

JEFFREY E. EPSTEIN AS GRANTOR TO DARREN K. INDYKE AND RICHARD KAHN AS TRUSTEES BUTTERFLY TRUST ayL-“31111 DATED DECEMBER 27, 2006 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) VISSM543 EFTA_000 1 94 1 3 EFTA00169160 TRUST AGREEMENT dated December VI , 2006 between JEFFREY E. EPSTEIN, as Grantor, and DARREN K. INDYICE and RICHARD KAHN, as Trustees, FIRST Transfer to Trustees The Grantor hereby transfers to the Trustees, IN TRUST, and the Trustees hereby acknowledge receipt of, the property listed in Schedule A hereto. Said property and all investments and reinvestments thereof, and all proceeds thereof which constitute principal, and any property hereafter transferred to the Trust, are hereinafter collectively called "principal." SECOND Definitions Wherever used in this Trust Agreement: A. The word "Trustees" and all references to the Trustees shall mean and refer to the Trustees hereinbefore named and any successor or substitute Trustees or Trustee, a