Estate of Eugene E. Stone, III, Deceased, C. Rivers Stone, E.E. Stone, IV, Mary Stone Fraser & Rosalie Stone Morris, Co-Personal Representatives - Page 58

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                         III and/or Allene W. Stone shall, after pay-                 
                         ment of estate taxes and expenses of adminis-                
                         tration, be distributed equally to the four                  
                         Children or that Child’s estate, subject,                    
                         however, to the provision that the decedent’s                
                         interest in each of the Children’s Limited                   
                         Partnerships shall be distributed directly to                
                         the Child for whose Partnership such interest                
                         is held.                                                     
                    C.   FAMILY SETTLEMENT AGREEMENT                                  
                              The Children and Grandchildren (or their                
                         guardians ad litem) and the Stone Foundation                 
                         (if necessary) have executed a Family Settle-                
                         ment Agreement (pursuant to S.C. Code � 62-3-                
                         1101 et seq.) which provides for a division                  
                         inter se [sic] of the estates of E.E. Stone,                 
                         III and Allene W. Stone in the manner set                    
                         forth in this Section III in the event E.E.                  
                         Stone, III or Allene W. Stone fail to main-                  
                         tain their Wills in the same manner.  The                    
                         Family Settlement Agreement acknowledges that                
                         in the event E.E. Stone, III executes a new                  
                         Will, Codicil or other agreement which does                  
                         not conform to the distribution outline in                   
                         the “Stone Family Limited Partnership Distri-                
                         bution Schedule” dated April 3, 1997 and                     
                         attached hereto as Exhibit “J” (“the Chart”)                 
                         and in this Amended Plan, the Children none-                 
                         theless agree (a) the distribution outlined                  
                         in such Chart and in this Amended Plan is                    
                         fair and equitable; (b) to abide by the terms                
                         of such distribution as a Family Settlement                  
                         Agreement pursuant to  South Carolina Code �                 
                         62-3-1101, et seq.; and (c) to include what-                 
                         ever provisions are necessary to preserve any                
                         applicable marital deductions. * * *                         
                  *       *       *       *       *       *       *                   
                    E.   STONE FOUNDATION                                             
                              The Stone Foundation shall be divided                   
                         into four separate, equal, and entirely inde-                
                         pendent foundations with each Child (and/or                  
                         designee) as one of the trustees(s) of one                   
                         separate foundation, but with 20% of the                     
                         required income to be distributed by E.E.                    
                         Stone, III to his favorite church, and/or                    

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Last modified: May 25, 2011