Preview
FILED: NEW YORK COUNTY CLERK 06/07/2022 02:15 PM INDEX NO. 657193/2020
NYSCEF DOC. NO. 431 RECEIVED NYSCEF: 06/07/2022
EXHIBIT A
FILED: NEW YORK COUNTY CLERK 01/21/2021
06/07/2022 11:26
02:15 PM INDEX NO. 657193/2020
NYSCEF DOC. NO. 44
431 RECEIVED NYSCEF: 01/21/2021
06/07/2022
THE YASEMIN TEKINER 2011 DESCENDANTS TRUST
TRUST AGREEMENT made as of st day of
of this 11st August,, 2011
of August 2011,, by and between
BERRIN TEKINER,,
TEKINER of
of New York,,
York New York,,
York as Grantor hereinafter
((hereinafter the Grantor”),
“"Grantor"),
DEUTSCHE BANK TRUST COMPANY DELAWARE,,
DELAWARE having a principal office in
Wilmington,,
Wilmington Delaware,,
Delaware as Trustee hereinafter
((hereinafter the Trustee”),
“"Trustee"), and YASEMIN
Y ASEMIN TEKINER,,
TEKINER of
of
York,, New York
New York York,, and BILLUR AKIPEK AKIPEK,, of York,, as the initial members
York,, New York
of New York
of the Trust Committee ((hereinafter
of hereinafter the “"Trust
Trust Committee
Committee"). ”).
W ITNESSETH:
WITNESSETH:
WHEREAS,,
WHEREAS the Grantor wishes to create a trust for the purposes hereinafter set
forth;;
forth
NOW, THEREFORE
NOW, THEREFORE,, in consideration of of the mutual contained,,
covenants herein contained
the Grantor does hereby irrevocably give,,
give convey and deliver to the Trustee the sum of Ten
of
$10), IN TRUST
Dollars (($10), TRUST,, to hold such property and any other property which the Trustee may
hereafter receive or acquire ((hereinafter
hereinafter collectively the “"Trust
Trust Principal
Principal")”) for the following uses
and purposes and subject to the following terms and conditions conditions::
FIRST
FIRST:: Name.
Name.
The trust created by this instrument shall be known as THE
“"THE YASEMIN
Y ASEMIN
TEKINER 2011 2011 DESCENDANTS TRUST TRUST." .”
SECOND::
SECOND Administration of of Trust During Life of Tekiner..
Yasemin Tekiner
ofYasemin
A)
((A) The Trustee shall hold the Trust Principal,,
Principal IN TRUST,,
TRUST for the benefit ofof
Y ASEMIN TEKINER (("Y
YASEMIN “YASEMIN
ASEMIN") ”) and such of of YASEMIN
Y ASEMIN's ’s descendants as shall from time
to time be living during the term of beneficiaries”).
collectively,, the “"beneficiaries").
of this trust (collectively
86004330.3
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B)
((B) The
The Trustee shall
shall pay to or for
or for the
the benefit
benefit of such
of such one
one or more
or more of the
of the
beneficiaries,, at
beneficiaries at any
any time and
and from
from time to time
time,, out
out of
of the
the net
net income
income oror the
the principal of the
principal of the trust
trust
such amounts,, if
such amounts any,, as
if any as the Trust
Trust Committee
Committee,, inin its
its sole
sole and
and absolute
absolute discretion
discretion,, may
may atat any time
any time
direct for
direct any purpose
for any purpose;; provided,,
provided however,,
however that any
that any such
such determination
determination shall
shall be made
be made by the
by the
members of
members the Trust
of the Trust Committee
Committee other
other than
than such
such beneficiary
beneficiary andand,, ifif the
the Trust
Trust Committee
Committee shall
shall
consist of
consist of more than
than one member,,
one member other than
other than any
any member
member of of the
the Trust
Trust Committee
Committee thenthen legally
legally
obligated
obligated toto support such beneficiary
support such beneficiary..
C)
((C) Any distribution
Any distribution directed
directed oror authorized
authorized to to be
be made
made under
under this
this Article
Article may
may
be made
be made by by payment
payment to to such
such beneficiary
beneficiary oror beneficiaries
beneficiaries oror in
in any
any other
other manner
manner as as the
the Trustee
Trustee
shall
shall determine
determine in in the
the exercise
exercise ofof sole
sole and
and absolute
absolute discretion
discretion,, including,,
including but not
but not limited
limited toto,,
another trust for
another trust for the
the benefit
benefit of any one
of any one oror more
more individual
individual beneficiaries
beneficiaries ofof any trust created
any trust created
hereunder..
hereunder
D)
((D) In
In directing
directing any
any distribution
distribution under
under this
this Article
Article,, the Grantor
the Grantor requests
requests,, but
but
does
does not require,, that
not require that the
theTrust
Trust Committee
Committeegive givepreference
preferenceto to providing
providingfor forYASEMIN
YASEMIN..
E)
((E) In directing
In directing any distribution under
any distribution under this
this Article
Article, theTrust
, the Trust Committee
Committee may may
but need
but need not
not take into account
take into account aa beneficiary
beneficiary's’s other resources
other resources andand his
his or
or her
her other
other actual
actual oror
potential
potentialsources
sourcesof support..
ofsupport
F)
((F) The Trustee
The Trustee shall
shall add
add all
all undistributed
undistributed net net income
income toto principal
principal atat least
least
annually
annually..
(G
(G)
) Thetrust
The trustestablished
establishedunder
underthis
thisArticle
Articleshall
shallterminate
terminateupon YASEMIN'S
uponYASEMIN ’S
death , atatwhich
death, whichtime
timethe
theTrustee
Trusteeshall
shallthereupon distributesuch
thereupondistribute suchproperty
propertyasasfollows
follows::
( 1( 1)
) Thethen
The thenremaining
remainingprincipal
principalandandincome
income, , ififany
, ofofsuch
any, suchtrust
trustshall
shall
bedistributed
be distributedtotosuch
suchone
oneorormore
moremembers
membersofofthe theclass
classconsisting
consistingofofthe
thethen
thenliving descendants
livingdescendants
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of
of the Grantor
Grantor,, and in such estates,,
estates interests and proportions,,
proportions as Y ASEMIN
YASEMIN directs
directs by
by aa
provision of
of her Last Will and Testament duly admitted to probate or
(or by aaprovision
provision of aa
of
revocable inter vivos trust created by YASEMIN,,
YASEMIN which trust shall,,
shall by its terms,,
terms become
become
irrevocable upon YASEMIN's
YASEMIN ’s death and the assets
assets of which
of shall
shall includable in
be includable in her gross
her gross
estate for federal estate tax purposes
purposes)) and expressly referring such power of
to such and
appointment;; and
of appointment
provided further such power of
further that such of appointment shall not be exercised
appointment shall in favor of
in favor YASEMIN,,
of YASEMIN
her estate
her estate,, her creditors or
creditors or the creditors of
creditors of her estate..
estate YASEMIN may
YASEMIN may,, by an
by an acknowledged
acknowledged,,
written instrument delivered
instrument delivered to the Trustee,,
Trustee at any
at any time and from time
and from to during her
time during
to time life,,
her life
release such
release such power
power ofof appointment
appointment with respect to
respect to any or
any or all the property
of the
all of subject to
property subject such
to such
power
power and may further
and may further limit
limit the
the persons
persons and /or
and/or entities
entities in
in whose favor
whose such
favor such power may
power may be be
exercised..
exercised
((2)
2) The Trustees
The shall divide
Trustees shall all property
divide all which YASEMIN
property which YASEMIN does not
does not
effectively
effectively soso appoint into such
appoint into such number
number of of equal shares as
equal shares will provide
as will provide One such share
One such with
share with
respect to
respect to each child of
each child YASEMIN who
ofYASEMIN who survives YASEMIN,, and
survives YASEMIN One such
and One with respect
share with
such share to
respect to
each
each child
child of
of YASEMIN
Y ASEMIN who
who does
does not
not survive
survive Y ASEMIN
YASEMIN but
but who
who leaves
leaves one
one or
or more
more
descendants
descendants who survive her
who survive her.. Any share
Any set apart
share set apart for child of
for aa child YASEMIN who
ofYASEMIN does not
who does survive
not survive
YASEMIN shall
YASEMIN be divided
shall be divided into
into per stirpital shares
per stirpital for such
shares for child's
such child ’s descendants who
descendants survive
who survive
YASEMIN..
YASEMIN ((Each child or
Each child or more remote descendant
more remote descendant of ofYASEMIN
YASEMIN for whom aa per
for whom per stirpital share
stirpital share
isis set
set aside herein referred
aside isis herein referred to as aa “"primary
to as primary beneficiary .”)
beneficiary.") Each share so
Each share set aside
so set for aa
aside for
primary beneficiary
primary beneficiary shall be held
shall be in aa separate
held in trust in
separate trust accordance with
in accordance the provisions
with the provisions of Article
ofArticle
hereof..
THIRD hereof
THIRD
3)
((3) IfIf no
no descendants
descendants of YASEMIN survive
of YASEMIN YASEMIN,,
survive YASEMIN the Trustee
the Trustee
shall
shall distribute
distributesuch propertyin
such property accordancewith
in accordance theprovisions
with the provisionsof ofArticle FOURTH hereof
Article FOURTH hereof..
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THIRD
THIRD:: Trusts for Descendants ooff Yasemin TekinerTekiner..
((A)
A) The Trustee shall hold each share directed to be
be administered
administered in
in
accordance with the provisions of Article,, IN FURTHER TRUST
of this Article TRUST,, as a trust for
separate trust for the
the
benefit of the
of primary beneficiary for whom the share is
share set aside
set aside and
and the descendants
the descendants of of the
the
primary beneficiary living
living from time to time during the trust term
term ((collectively
collectively,, the
the
beneficiaries”).
“"beneficiaries").
((B)
B) The
The Trustee
Trustee shall
shall distribute
distribute all
all or
or any
any part of the
of net
net income
income and
and the
the
principal ofof such
such trust to or for the benefit of
or for of such
such one
one oror more ofof the beneficiaries
beneficiaries,, at
at such
such time
time
or times
or times and
and in such
in such shares
Preview
FILED: NEW YORK COUNTY CLERK 06/07/2022 02:15 PM INDEX NO. 657193/2020 NYSCEF DOC. NO. 431 RECEIVED NYSCEF: 06/07/2022 EXHIBIT A FILED: NEW YORK COUNTY CLERK 01/21/2021 06/07/2022 11:26 02:15 PM INDEX NO. 657193/2020 NYSCEF DOC. NO. 44 431 RECEIVED NYSCEF: 01/21/2021 06/07/2022 THE YASEMIN TEKINER 2011 DESCENDANTS TRUST TRUST AGREEMENT made as of st day of of this 11st August,, 2011 of August 2011,, by and between BERRIN TEKINER,, TEKINER of of New York,, York New York,, York as Grantor hereinafter ((hereinafter the Grantor”), “"Grantor"), DEUTSCHE BANK TRUST COMPANY DELAWARE,, DELAWARE having a principal office in Wilmington,, Wilmington Delaware,, Delaware as Trustee hereinafter ((hereinafter the Trustee”), “"Trustee"), and YASEMIN Y ASEMIN TEKINER,, TEKINER of of York,, New York New York York,, and BILLUR AKIPEK AKIPEK,, of York,, as the initial members York,, New York of New York of the Trust Committee ((hereinafter of hereinafter the “"Trust Trust Committee Committee"). ”). W ITNESSETH: WITNESSETH: WHEREAS,, WHEREAS the Grantor wishes to create a trust for the purposes hereinafter set forth;; forth NOW, THEREFORE NOW, THEREFORE,, in consideration of of the mutual contained,, covenants herein contained the Grantor does hereby irrevocably give,, give convey and deliver to the Trustee the sum of Ten of $10), IN TRUST Dollars (($10), TRUST,, to hold such property and any other property which the Trustee may hereafter receive or acquire ((hereinafter hereinafter collectively the “"Trust Trust Principal Principal")”) for the following uses and purposes and subject to the following terms and conditions conditions:: FIRST FIRST:: Name. Name. The trust created by this instrument shall be known as THE “"THE YASEMIN Y ASEMIN TEKINER 2011 2011 DESCENDANTS TRUST TRUST." .” SECOND:: SECOND Administration of of Trust During Life of Tekiner.. Yasemin Tekiner ofYasemin A) ((A) The Trustee shall hold the Trust Principal,, Principal IN TRUST,, TRUST for the benefit ofof Y ASEMIN TEKINER (("Y YASEMIN “YASEMIN ASEMIN") ”) and such of of YASEMIN Y ASEMIN's ’s descendants as shall from time to time be living during the term of beneficiaries”). collectively,, the “"beneficiaries"). of this trust (collectively 86004330.3 FILED: NEW YORK COUNTY CLERK 06/07/2022 02:15 PM INDEX NO. INDEX NO. 657193/2020 657193/2020 FILED: NEW YORK COUNTY CLERK 01/21/2021 11:26 PM NYSCEF NYSCEF DOC. DOC. NO. NO. 431 44 RECEIVED NYSCEF: RECEIVED NYSCEF: 01/21/2021 06/07/2022 B) ((B) The The Trustee shall shall pay to or for or for the the benefit benefit of such of such one one or more or more of the of the beneficiaries,, at beneficiaries at any any time and and from from time to time time,, out out of of the the net net income income oror the the principal of the principal of the trust trust such amounts,, if such amounts any,, as if any as the Trust Trust Committee Committee,, inin its its sole sole and and absolute absolute discretion discretion,, may may atat any time any time direct for direct any purpose for any purpose;; provided,, provided however,, however that any that any such such determination determination shall shall be made be made by the by the members of members the Trust of the Trust Committee Committee other other than than such such beneficiary beneficiary andand,, ifif the the Trust Trust Committee Committee shall shall consist of consist of more than than one member,, one member other than other than any any member member of of the the Trust Trust Committee Committee thenthen legally legally obligated obligated toto support such beneficiary support such beneficiary.. C) ((C) Any distribution Any distribution directed directed oror authorized authorized to to be be made made under under this this Article Article may may be made be made by by payment payment to to such such beneficiary beneficiary oror beneficiaries beneficiaries oror in in any any other other manner manner as as the the Trustee Trustee shall shall determine determine in in the the exercise exercise ofof sole sole and and absolute absolute discretion discretion,, including,, including but not but not limited limited toto,, another trust for another trust for the the benefit benefit of any one of any one oror more more individual individual beneficiaries beneficiaries ofof any trust created any trust created hereunder.. hereunder D) ((D) In In directing directing any any distribution distribution under under this this Article Article,, the Grantor the Grantor requests requests,, but but does does not require,, that not require that the theTrust Trust Committee Committeegive givepreference preferenceto to providing providingfor forYASEMIN YASEMIN.. E) ((E) In directing In directing any distribution under any distribution under this this Article Article, theTrust , the Trust Committee Committee may may but need but need not not take into account take into account aa beneficiary beneficiary's’s other resources other resources andand his his or or her her other other actual actual oror potential potentialsources sourcesof support.. ofsupport F) ((F) The Trustee The Trustee shall shall add add all all undistributed undistributed net net income income toto principal principal atat least least annually annually.. (G (G) ) Thetrust The trustestablished establishedunder underthis thisArticle Articleshall shallterminate terminateupon YASEMIN'S uponYASEMIN ’S death , atatwhich death, whichtime timethe theTrustee Trusteeshall shallthereupon distributesuch thereupondistribute suchproperty propertyasasfollows follows:: ( 1( 1) ) Thethen The thenremaining remainingprincipal principalandandincome income, , ififany , ofofsuch any, suchtrust trustshall shall bedistributed be distributedtotosuch suchone oneorormore moremembers membersofofthe theclass classconsisting consistingofofthe thethen thenliving descendants livingdescendants 86004330.3 86004330.3 22 FILED: NEW YORK COUNTY CLERK 06/07/2022 02:15 PM INDEX NO. INDEX NO. 657193/2020 657193/2020 FILED: NEW YORK COUNTY CLERK 01/21/2021 11:26 PM NYSCEF NYSCEF DOC. DOC. NO. NO. 431 44 RECEIVED NYSCEF: RECEIVED NYSCEF: 01/21/2021 06/07/2022 of of the Grantor Grantor,, and in such estates,, estates interests and proportions,, proportions as Y ASEMIN YASEMIN directs directs by by aa provision of of her Last Will and Testament duly admitted to probate or (or by aaprovision provision of aa of revocable inter vivos trust created by YASEMIN,, YASEMIN which trust shall,, shall by its terms,, terms become become irrevocable upon YASEMIN's YASEMIN ’s death and the assets assets of which of shall shall includable in be includable in her gross her gross estate for federal estate tax purposes purposes)) and expressly referring such power of to such and appointment;; and of appointment provided further such power of further that such of appointment shall not be exercised appointment shall in favor of in favor YASEMIN,, of YASEMIN her estate her estate,, her creditors or creditors or the creditors of creditors of her estate.. estate YASEMIN may YASEMIN may,, by an by an acknowledged acknowledged,, written instrument delivered instrument delivered to the Trustee,, Trustee at any at any time and from time and from to during her time during to time life,, her life release such release such power power ofof appointment appointment with respect to respect to any or any or all the property of the all of subject to property subject such to such power power and may further and may further limit limit the the persons persons and /or and/or entities entities in in whose favor whose such favor such power may power may be be exercised.. exercised ((2) 2) The Trustees The shall divide Trustees shall all property divide all which YASEMIN property which YASEMIN does not does not effectively effectively soso appoint into such appoint into such number number of of equal shares as equal shares will provide as will provide One such share One such with share with respect to respect to each child of each child YASEMIN who ofYASEMIN who survives YASEMIN,, and survives YASEMIN One such and One with respect share with such share to respect to each each child child of of YASEMIN Y ASEMIN who who does does not not survive survive Y ASEMIN YASEMIN but but who who leaves leaves one one or or more more descendants descendants who survive her who survive her.. Any share Any set apart share set apart for child of for aa child YASEMIN who ofYASEMIN does not who does survive not survive YASEMIN shall YASEMIN be divided shall be divided into into per stirpital shares per stirpital for such shares for child's such child ’s descendants who descendants survive who survive YASEMIN.. YASEMIN ((Each child or Each child or more remote descendant more remote descendant of ofYASEMIN YASEMIN for whom aa per for whom per stirpital share stirpital share isis set set aside herein referred aside isis herein referred to as aa “"primary to as primary beneficiary .”) beneficiary.") Each share so Each share set aside so set for aa aside for primary beneficiary primary beneficiary shall be held shall be in aa separate held in trust in separate trust accordance with in accordance the provisions with the provisions of Article ofArticle hereof.. THIRD hereof THIRD 3) ((3) IfIf no no descendants descendants of YASEMIN survive of YASEMIN YASEMIN,, survive YASEMIN the Trustee the Trustee shall shall distribute distributesuch propertyin such property accordancewith in accordance theprovisions with the provisionsof ofArticle FOURTH hereof Article FOURTH hereof.. 86004330.3 86004330.3 33 FILED: NEW YORK COUNTY CLERK 06/07/2022 02:15 PM INDEX NO. INDEX NO. 657193/2020 657193/2020 FILED: NEW YORK COUNTY CLERK 01/21/2021 11:26 PM NYSCEF NYSCEF DOC. DOC. NO. NO. 431 44 RECEIVED NYSCEF: RECEIVED NYSCEF: 01/21/2021 06/07/2022 THIRD THIRD:: Trusts for Descendants ooff Yasemin TekinerTekiner.. ((A) A) The Trustee shall hold each share directed to be be administered administered in in accordance with the provisions of Article,, IN FURTHER TRUST of this Article TRUST,, as a trust for separate trust for the the benefit of the of primary beneficiary for whom the share is share set aside set aside and and the descendants the descendants of of the the primary beneficiary living living from time to time during the trust term term ((collectively collectively,, the the beneficiaries”). “"beneficiaries"). ((B) B) The The Trustee Trustee shall shall distribute distribute all all or or any any part of the of net net income income and and the the principal ofof such such trust to or for the benefit of or for of such such one one oror more ofof the beneficiaries beneficiaries,, at at such such time time or times or times and and in such in such shares