Estate of Eugene E. Stone, III, Deceased, C. Rivers Stone, E.E. Stone, IV, Mary Stone Fraser & Rosalie Stone Morris, Co-Personal Representatives - Page 7

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          longer were interested or actively involved in managing those               
          assets and wanted their children to become actively involved in             
          the management of those assets.                                             
               During the 1980s, Stone Manufacturing, which employed about            
          4,000 people, acquired from Umbro, an internationally known                 
          manufacturer and distributor of soccer apparel, the right to                
          distribute Umbro’s products within the United States.  In late              
          1991, Stone Manufacturing began discussions regarding the possi-            
          bility of acquiring from Umbro the right to distribute Umbro’s              
          products internationally.  On April 28, 1992, Stone Manufacturing           
          and the owners of Umbro signed a purchase agreement under which             
          Stone Manufacturing agreed to acquire the right to distribute               
          Umbro’s products internationally.                                           
               On April 28, 1992, Ms. Morris, Ms. Fraser, and their respec-           
          tive children filed a petition (petition) in a Probate Court in             
          South Carolina (Probate Court) against Eugene Earle Stone, IV, C.           
          Rivers Stone, and Mr. Brausch, as trustees of the trusts, and               
          against the children of C. Rivers Stone, as beneficiaries of one            
          of the trusts.  (We shall refer to that litigation as the litiga-           
          tion among the children and to all the parties in that litigation           
          as the parties in the litigation among the children.)  Eugene               
          Earle Stone, IV, discussed the litigation among the children with           
          his parents, but neither Ms. Stone nor Mr. Stone was or became a            
          party in that litigation.                                                   

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