SECOND  Non-Grantor Trust Status

Notwithstanding any other provision of this Agreement, the Trustee shall not make any distribution from the Trust estate to, or for the benefit of, the Grantor or any spouse of the Grantor and the Trustee shall not permit the Grantor or any spouse of the Grantor, directly or indirectly, to use, borrow, acquire, or otherwise deal with, any property held as part of the Trust estate whether or not for adequate consideration.  It is the intent of the Grantor that no part of the income, deductions, or credits of any trust created hereunder shall be attributed to the Grantor under the so-called “Grantor trust” rules of subpart E of subchapter J of subtitle A of the Code and, accordingly, the Grantor directs that this Agreement shall be construed and the trusts hereunder administered in accordance with and to carry out that intent and that any provision of this Agreement to the contrary shall be of no effect. None of the powers granted the Trustee shall enable the Grantor, any spouse of the Grantor, the Trustee, or any entity in which the Grantor, or any trust hereunder, has a substantial interest, to borrow the principal of the trust, directly or indirectly.  None of the powers granted to the Trustee shall enable anyone to require the Trustee to exchange trust property by substituting other property of equal value. The Trustee shall not pay to the Grantor or the Grantor's executors any income or principal of any trust estate hereunder on account of or in discharge of the Grantor's income tax liability (whether federal, state or otherwise), if any, in respect of property held in any trust hereunder and taxable to the Grantor including, but without limitation, tax on realized capital gains.

第二條  非委託人信託

不論本合約其他條文規定，受託人不應分配信託財產給委託人及其配偶，不論任何情形，無論對價是否相當，受託人亦不應允許委託人及其配偶使用、借出、獲得或處置信託財產之任一部分。委託人意旨本合約非為國稅法規subtitle A中subchapter J之 subpart E下所稱之「委託人信託」，本合約成立之任何信託之收益、抵減項均不被歸屬於委託人，並且本合約及信託均依此意旨被解釋與運作，任何本合約條文與此相違背者均為無效。任何被授予受託人之權力都不能直接或間接地，使委託人及其配偶或受託人有權，借出信託本金，亦不能使任何人要求受託人以等值財產替換信託之財產。受託人不得為了委託人之稅負責任（不論聯邦、州或其他稅），支付任何收益或本金給委託人或其執行人，包括任何信託財產所產生的資本利得稅。

 

THIRD  Rule Against Perpetuities

It is Grantor's intent that the rule against perpetuities set forth in Nevada Revised Statutes (“N.R.S”) Section 111.1031 shall apply to any trust created hereunder. Notwithstanding any provision of this Agreement, if a trust is created under this Agreement and has not terminated pursuant to N.R.S Section 111.1031, such trust shall terminate one (1) day prior to the duration calculated pursuant to N.R.S Section 111.1031, and whatever property then remains in the trust shall be distributed to the person for whose current benefit the trust then subsists or, if the trust has more than one current beneficiary, the trustee shall distribute the trust property equally among the current beneficiaries of the trust. provided, however, that if the trust is not generation skipping transfer tax exempt and any of the current beneficiaries are not skip persons, then the Trustee shall distribute the trust property equally among only the current beneficiaries of the trust who are not “skip persons”. Any trust created by the exercise of a limited power of appointment held hereunder, which such exercise results in the creation of another limited power of appointment, shall terminate at such time as required to avoid the application of Sections 2041(a)(3) and 2514(d) of the Code. If at the expiration of this period, any such part of the Trust estate remains undistributed, the same shall immediately vest in and be distributed to such one or more of the beneficiaries to or for whom the income of the Trust could have been properly distributed or applied immediately prior to such expiration, in such shares or proportions as the Distribution Fiduciary determines in its absolute discretion.

第三條  反永續條款

內華達州修訂法規第111.1031條規定的反永續條款應適用於依據本合約創建的任何信託。儘管本合約有其他規定，如果根據本合約創建的信託尚未根據內華達州修訂法規第111.1031條終止，則該信託應在根據內華達州修訂法規第 111.1031條計算的期限前一天終止，並把剩餘的信託財產分配給當時的受益人；如果該信託有不止一個受益人，則受託人應在受益人之間平均分配信託財產。若該信託不屬於隔代移轉稅，受益人非被跳過分配者，那麼受託人應僅在非「被跳過分配者」的信託受益人之間平均分配信託財產。任何因為行使限定指派權（並且因此產生第二個限定指派權）所成立之信託，應在特定時間終止，以避免國稅法規第2041(a)(3)條及第2514(d)條之適用。當信託期間到期，任何信託之部份尚未分配，則分配受託責任人有絕對裁量權決定以何比例將尚未分配之信託財產分配給信託到期前可被分配之受益人。

 

FOURTH  Incapacity of Beneficiary

Subject to the provisions of Article ELEVENTH of this Agreement relating to the Distribution Adviser, unless otherwise specified in this Agreement, any share of the income or principal of any trust created by or pursuant to this Agreement to which any person who is physically or mentally incapacitated, in the judgment of the Distribution Fiduciary, shall become entitled, shall be vested in interest in such person (the “Vested Beneficiary”) and shall be held, IN TRUST, for the benefit of the Vested Beneficiary by the Trustee for the following uses and purposes:

第四條  無行為能力受益人

在符合本合約第十一條關於分配顧問規定的前提下，除非本合約條文有特別提及，根據分配受託責任人判斷，任何有權力受益於本合約下任何信託之收益或本金且生理或心理上無行為能力之受益人，即被稱為「既得受益人」，受託人應為既得受益人之利益以下列方式持有、管理被分配之財產。

(a) Management

Subject to the provisions of Article NINTH of this Agreement relating to the Investment Direction Adviser, the Trustee shall hold, manage, invest, and reinvest the Trust estate, shall collect and receive the income therefrom, and shall pay out of the income all expenses and charges properly payable therefrom.

(a)管理

在符合本合約第九條關於投資指示顧問規定的前提下，受託人應持有、管理、投資及再投資信託財產，收取與接收信託收益，以信託收益支付所有應適當支付之費用與開銷。

(b) Income and Principal

Subject to the provisions of Article ELEVENTH of this Agreement relating to the Distribution Adviser, and without court order, the Trustee is authorized and empowered to apply the net income and principal to the extent the Distribution Fiduciary may deem necessary or advisable for the care, maintenance, support, education and general welfare of the Vested Beneficiary, without regard to the duty of any individual to support the Vested Beneficiary and without regard to any other funds which may be available to the Vested Beneficiary, until the Vested Beneficiary is no longer, in the judgment of the Distribution Fiduciary, physically or mentally incapacitated. Any unapplied income shall be added to the principal of the trust at least annually. The remaining principal of the trust, if any, together with any accumulated income, shall be distributed, freed and discharged of trust, to the Vested Beneficiary when, in the judgment of the Distribution Fiduciary, he or she has recovered from such physical or mental incapacity; provided, that if the Vested Beneficiary shall die prior to such occurrence, the trust property shall be distributed, freed and discharged of trust, to the executors or administrators of his or her estate.

(b)收益和本金

收益與分配受限於第十一條關於分配顧問之規定，即便無法院之命令，受託人有權將收益及本金分配予分配受託責任人認為既得受益人之需要的照護、維護、教育或福利等相關費用，不論有無其他個人援助及可用的資金，直到分配受託責任人認為其生理或心理已恢復為有行為能力之人。任何未分配之收益最少每年一次應被加入為信託本金。如分配受託責任人認為既得受益人已在生理或心理恢復為有行為能力後，則剩餘之信託本金及累積收益應分配給既得受益人。如既得受益人在這之前過世，則剩餘財產分配給其遺產執行人或管理者。

 

FIFTH  Alienation

The interest of any beneficiary in either the income or principal of any trust created by or pursuant to this Agreement shall not be anticipated, alienated, or in any other manner assigned or transferred by the beneficiary, and such interest shall be exempt from execution, attachment, distress for rent, foreclosure and any other legal or equitable process or remedies which may be instituted by or on behalf of any creditor or assignee of such beneficiary; provided, however, that any beneficiary will be privileged at any time by a writing delivered to the Trustee to disclaim, renounce or relinquish, in whole or in part, any interest the beneficiary may have in the Trust estate and thereby accelerate the next succeeding interest as if such beneficiary had died at the time of the disclaimer, renunciation or relinquishment.

第五條  受益權轉讓

受益人對任何依本合約所設立信託之本金或其收益之利益不得被預支、轉讓或以其他方式轉讓或移轉，且此利益豁免於來自任何代表受益人債權人或受讓人之強制執行、扣押、沖抵租金、強制拍賣、或其他法定或與其相等之程序或救濟手段；但受益人有權以交付書面予受託人的方式，全部或部分否認、拒絕或放棄其在信託財產中可能擁有的任何權益，從而加速下一順位的繼承權益，如同該受益人在否認、拒絕或放棄權益時已經去世。

 

SIXTH  Trust Additions and Mergers

(a) Additions

With the consent of the Trustee, any person may transfer and deliver, or may bequeath or devise by Last Will and Testament or other testamentary instrument, property to the Trustee and such property shall thereafter be held by the Trustee as a part hereof.

第六條  信託之新增及合併

(a)信託之新增

在受託人同意的情形下，任何人依其最後遺囑、移轉、傳遞、遺贈財產給受託人，受託人應將其視為本信託一部分來持有。

(b) Mergers

If at any time a trust is set aside for any person or persons under the terms of this Agreement which is substantially the same as any other trust established for that person or persons, the Trust Protector, in the Trust Protector's sole discretion, may direct the Trustee to merge the trust created hereunder with the other trust for such person or persons, and the two trusts shall thereafter be held, administered, and distributed as one. In the event the Trust Protector exercises the Trust Protector's power to direct the Trustee to merge trusts, the Trust Protector shall direct the Trustee as to which trust governs administration of the merged trusts.

(b)信託合併

如依本信託合約之規定為某人保留的信託，與已為該人設立的其他信託大致相同，信託保護人得以其單獨裁量權，指示受託人合併這兩個信託為一個信託來持有、管理、及分配。在信託保護人指示受託人合併信託時，應指示合併後以哪一個信託管理合併後的信託。

 

SEVENTH  Trustee's Powers

Subject to the provisions of Articles NINTH, TENTH and ELEVENTH of this Agreement relating to the Investment Direction Adviser, Trust Protector and Distribution Adviser, the Trustee, with respect to each trust created by or pursuant to this Agreement, is authorized and empowered to exercise the following powers as well as any other powers conferred by law:

第七條  受託人的權力

在符合本合約第九條（投資指示顧問）、第十條（信託保護人）及第十一條（分配顧問）規定的前提下，受託人就本合約所創立的每個信託均被授權並有權行使以下權力，以及法律賦予的任何其他權力：

(a) To exercise options of any type, as the Investment Direction Adviser may deem advisable; to purchase or otherwise acquire, and to retain, whether originally a part of the Trust estate or subsequently acquired, any and all stocks, bonds, notes, or other securities, or any variety of real or personal property, including stocks or interests in investment trusts, regulated investment companies and common trust funds, as the Investment Direction Adviser may deem advisable, whether or not such investments be of the character permissible by law for investments by fiduciaries.  Investments need not be diversified and may be made or retained with a view to a possible increase in value.  Notwithstanding the foregoing, or any other provision of this Agreement to the contrary, in the event Prestige Trust Company Inc. is serving as Trustee of any trust created by or pursuant to this Agreement, all such trusts shall be prohibited from acquiring or holding direct title to any interest in real property.

(a) 得行使投資指示顧問認為可行的任何種類的選擇權，購買或以其他方式獲取、或保留之原始、或之後取得的本信託財產、股票、債券、票據或其他證券，或任何種類的其他不動產或動產、投資持分或股票，只要投資指示顧問認為可行，無論此類投資之性質是否屬於法律允許受託責任人得投資者。投資不一定要多元化，得為了增值而進行或保留。儘管如上所述或本合約有其他相反規定，只要在Prestige Trust Company Inc.擔任受託人時，本合約下的所有信託均不得收購或直接持有不動產任何權益的所有權。

(b) To sell, convey, lease, pledge, transfer, exchange, convert or otherwise dispose of, or grant options with respect to, any and all property, real or personal, at any time forming a part of the Trust estate, publicly or privately, without an order of court.  Any lease made by the Trustee may extend beyond the duration of the trust.

(b) 得公開或私下銷售、轉讓、出租、抵押、移轉，交換、轉換、或其他方式處分本信託的任何及所有財產或就其授予選擇權，毋須法院的命令。受託人若有租賃行為，其租賃期間得超越信託存續期間。

(c) To vote in person or by general or limited proxy with or without power of substitution with respect to any shares of stock or other securities held by it; to consent, directly or through a committee or other agent, to the reorganization, consolidation, merger, dissolution or liquidation of any corporation in which the Trust estate may have any interest, or to the sale, lease, pledge or mortgage of any property by or to any such corporation; and to make any payments and to take any other steps which the Investment Direction Adviser may deem necessary or proper to enable the Trust estate to obtain the benefit of any such transaction.

(c) 對於持有的證券，得親自投票，或具有或不具有替換權普通或有限制的代理投票；得直接或透過委員會或其他代理人，同意重組、聯合、合併、解散、清算任何本信託財產對其持有利益的公司，或銷售、出租、質押或抵押任何該公司名下的財產；得支付任何款項及採取投資指示顧問認為必要或適當的任何其他步驟，以使本信託財產能從該交易中獲益。

(d) To hold investments in the name of a nominee.

(e) To borrow money for any purpose and as security to pledge any real or personal property forming a part of the Trust estate.

(f) To pay, compromise, compound, adjust, submit to arbitration, sell or release any claims or demands of the Trust estate against others or of others against the Trust estate as the Investment Direction Adviser may deem advisable, including the acceptance of deeds of real property in satisfaction of bonds, and to make any payments in connection therewith which the Investment Direction Adviser may deem advisable.

(d) 得用名義人持有投資。

(e) 得為任何目的借款，並以信託財產一部分的任何不動產或個人財產作為抵押擔保。

(f) 在投資指示顧問認為可行的情况下，支付、妥協、和解、調整、提交仲裁、出售或解除任何他人對信託財產的索賠及要求，包含為借貸而接受不動產的轉讓及任何投資指示顧問認可的付款。

(g) To make distribution of the principal of the Trust estate in kind and to cause any share or part to be composed of cash, property or undivided fractional shares in property different in kind from any other share.

(h) To make loans.

(i) To execute and deliver any and all instruments in writing which it may deem advisable to carry out any of the Trustee's powers. No party to any such instrument in writing signed by the Trustee shall be obligated to inquire into its validity, or be bound to see to the application by the Trustee of any money or other property paid or delivered to it pursuant to the terms of any such instrument.

(g) 分配信託財產的本金，其本金得由現金或任何形式的財產，或不可分割且與其他信託財產份額不一致的財產份額所組成的。

(h) 借出款項。

(i) 以書面形式簽署並交付任何由受託人執行之權力。對於須書面簽署的文件，任何文件相關人均無義務詢問文件有效性，並且無義務了解根據文件交付給受託人款項的運用。

(j) To vote stock of and sell part or all of the assets of closely held business entities and determine all questions of policy, to execute partnership agreements, limited liability company agreements and amendments thereto; to participate in any incorporation, reorganization, merger, consolidation, recapitalization, liquidation or dissolution of any business or any change in its nature; to invest additional capital in, subscribe to or buy additional stock or securities of, or make secured, unsecured or subordinated loans to any business, with trust funds; to rely upon the reports of certified public accountants or public accountants as to the operations and financial condition of any business, without independent investigation; to elect or employ, as directors, officers, members, employees or agents of any business, and compensate any persons, including the Trustee, or a director, officer, member, employee, or agent of the Trustee; to deal with and act for any business in any capacity, including any banking or trust capacity and the loaning of money out of the Trustee's own funds or any of the Trustee's affiliates' own funds, and to be compensated therefore; and the fact that the Trustee may be interested in any such business as director, manager, agent, stockholder, partner, member or employee shall not constitute an adverse or conflicting interest, and the acts of the Trustee shall be judged as if the Trustee had no interest in the business.  The Trustee shall not be liable to anyone for anything done or not done by any other director, officer, manager, agent, stockholder, partner, member or employee of any business.

(j) 對於所持有營業實體出售部分或所有財產，或決定其政策的投票，執行合夥契約，有限責任公司的契約及修改；參與任何業務的並購、重整、合併、資本重組、清算及解散或其他型態之變化；投入額外的資本以取得更多股票或其他證券，或向任何業務提供有抵押、無抵押或次級貸款；信賴之註冊會計師或公共會計師的經營及財務報告，而不進行獨立調查；選擇及僱用任何業務的董事、執行長、僱員、信託代理人，並且給予上開人士酬勞；若是以任何身分處理任何業務相關事務，包含銀行或信託身分，從受託人自有資金或受託人的關聯公司的自有資金來借出資金，信託都要給予補償；事實上受託人作為信託持有公司的董事、經理、或股東、合夥人或員工，須避免產生利益衝突，此時受託人的行為須被評斷是否跟其產業有利益衝突。受託人對於其他董事、經理、代理人、股東、合夥行為或不行為，不須負任何責任。

(k) To divide any trust into two or more separate trusts so that the federal generation-skipping transfer tax inclusion ratio as defined in Section 2642(a) of the Code for each new trust after such division, shall be either zero (0) or one (1). Immediately after any such division, each separate trust shall have identical provisions to the original trust.  The Trustee may, at any time prior to a combination of such trusts, expend principal and exercise any other discretionary powers with respect to such separate trusts differently, invest such separate trusts differently, and take all other actions consistent with such trusts being separate entities. Further, the donee of any power of appointment with respect to a divided trust may exercise such powers differently for each separate trust created by the division.

(k) 將任一信託分割成兩個或數個衍生信託，因此根據國稅法規第2642(a)條，聯邦隔代移轉稅之應稅比例對於每個新的衍生信託都是零或一。在信託分割以後，每個衍生的信託都具有與原始信託相同的規定。受託人得在這些信託合併之前的任何時間，以不同的方式支出本金或行使自由裁量權，用不同的方式投資，並採取與該等信託為獨立實體相符之所有其他行動。此外，任何關於分割信託的受託人，得對各個分割的獨立信託行使不同的權力。

(l) To open checking and other banking and investment accounts in the name of the Trust and to designate the officer or officers of any corporate Trustee who shall have the authority to sign checks or withdraw funds from such accounts.

(l) 以本信託名義開立支票及其他銀行投資帳戶，並指定任何受託公司一名或多名的高級職員，授權其簽署支票或從該帳戶提款。

(m) To employ or otherwise deal with such agents, advisers and other counsel, including but not limited to entities affiliated with any Trustee or Investment Direction Adviser, and to pay out of income or principal or both the reasonable charges and fees of such agents, advisers and other counsel, as it shall in its sole discretion determine, including the power to select brokers and dealers affiliated with any Trustee or Investment Direction Adviser for the sale or purchase of any securities or any other investment property in the Trust.

(m) 聘用或以其他方式與代理人、顧問、或其他諮詢人員，包含但不限於與受託人或投資指示顧問相關聯的主體進行交易，用本金或收益支付其合理的費用，受託人的絕對裁量權得選擇與受託人或投資指示顧問相關聯的股票經紀人及券商買賣任何信託持有的證券或財產。

The Trustee shall be entitled to reimbursement for the charges and fees of such agents, advisers and other counsel out of principal or income or both as it shall in its sole discretion determine. This authorization may include, but shall not be limited to, an affiliated broker acting in a principal or agency capacity for equity and fixed income securities, routing orders for over-the-counter (OTC) stocks to a market maker affiliated with any Trustee or Investment Direction Adviser, routing listed stocks to specialists affiliated with any Trustee or Investment Direction Adviser, routing listed options through a proprietary trading operation affiliated with any Trustee or Investment Direction Adviser, or routing after-hours orders to a proprietary trading operation in which any Trustee or Investment Direction Adviser or an affiliate of any Trustee or Investment Direction Adviser owns an equity interest.

受託人依其單獨裁量權，用本金或收益支付代理人、顧問、及其他諮詢人員的費用。此授權包含但不限於關係經紀人以主要或代理身分處理股權及固定收益證券的本金，將櫃台買賣之股票、已發行股票、已發行之選擇權以及盤後交易向與受託人或投資指示顧問有關之市場發出訂單。

In such case the Trustee, Investment Direction Adviser or its respective affiliate may receive both monetary and non-monetary “payment for order flow,” including, without limitation, an inter-company transfer of funds in connection with orders routed to an affiliated market maker; monetary compensation (including fee sharing) from, and participation in the profits of, certain affiliated and independent exchange specialists who execute orders; other compensation as part of reciprocal order routing arrangements with various exchange specialists and dealer firms; and rebates and credits against fees paid by various exchanges to member firms. Except as required by law, the Trustee's compensation shall not be reduced by any additional compensation received by the Trustee, its parent, or any affiliate thereof, or any agent, principal, adviser, counsel, broker, dealer, market maker or specialist (including exchange specialist) affiliated with the Trustee, its parent or any affiliate thereof, for providing any of the services authorized herein.  Except as required by law, the Investment Direction Adviser's compensation shall not be reduced by any additional compensation received by the Investment Direction Adviser or any affiliate thereof, or any agent, principal, adviser, counsel, broker, dealer, market maker or specialist (including exchange specialist) affiliated with the Investment Direction Adviser or any affiliate thereof, for providing any of the services authorized herein.

在這些情况下，受託人或投資指示顧問或其各自關聯方可能收受貨幣及非貨幣形式的「訂單流支付」，包含但不限於與發送給其關聯交易商訂單有關的公司內部資金移轉；從與執行訂單有關的某些關聯或獨立交易專家處獲取的貨幣報酬（包含費用分成），並分享利潤；與其他交易專家及交易商公司就互惠訂單安排所獲得的報酬；以及各交易所向會員公司提供的回扣及費用抵免。除非法律要求，否則不得因受託人、其母公司或其關聯方，或與前三者有關聯的代理人、委託人、顧問、律師、經紀人、交易商、做市商或專家（包括交易所專家）提供本合約授權的服務而收受額外報酬，並因此使受託人的報酬減少。除非法律要求，亦不得因投資指示顧問或其關聯方，或與前兩者有關聯的代理人、委託人、顧問、律師、經紀人、交易商、做市商或專家（包括交易所專家）提供本合約授權的服務而收受額外報酬，並因此使投資指示顧問的報酬減少。

(n) To invest in, retain or otherwise deal in any securities managed, issued, underwritten or distributed by the Trustee or by any of its affiliates, any participation in any investment company registered under the Investment Company Act of 1940, or any investment fund exempt from registration under the Investment Company Act of 1940, for which the Trustee or its affiliates is an adviser or agent, and any other “affiliated investment” within the meaning of N.R.S Section 669.225 and to otherwise deal with or transact business with any of its affiliates, notwithstanding the fact that such Trustee or affiliate may receive separate fees, commissions or other costs directly from such security, fund, “affiliated investment,” dealing or transaction.

(n) 投資、保留或以其他方式處理由受託人或其關聯方所管理、發行、承銷、或分銷的證券，參與根據1940年投資公司法注册的任何投資公司，或根據1940年投資公司法免註冊的任何投資基金（受託人或其關聯方是該基金的顧問或代理），及內華達州修訂法規第669.225條所指的任何其他「關聯投資」，並以其他方式與其關聯方往來或進行交易，儘管事實上該受託人或關聯方可能直接從該證券、基金、或關聯投資上收取獨立的費用或佣金。儘管該受託人或關聯方可能直接從該證券、基金、「關聯投資」、往來或交易中收取單獨的費用、佣金或其他費用。

(o) Subject to the provisions of Article ELEVENTH of this Agreement relating to the Distribution Adviser, with regard to any trust created by or pursuant to this Agreement of which the Trustee has the power to invade the principal of the trust to make distributions to or for the benefit of one or more persons (the “First Trust”), the Trustee may instead exercise that power by appointing all or part of the principal of the First Trust subject to the power in favor of the Trustee of another trust (the “Second Trust”), provided, the beneficiaries of the Second Trust are beneficiaries of the First Trust at the time of the appointment in favor of the Trustee of the Second Trust.  Except to the extent limited by the immediately preceding sentence, the Second Trust may have dispositive provisions that differ from the First Trust.  The Second Trust may have administrative provisions that differ from the First Trust.  The Trustee must obtain the written consent of the Trust Protector prior to exercising the power conferred pursuant to this section (o).

(o) 在符合本合約第十一條關於分配顧問規定的前提下，對由本合約或根據本合約所設立、且受託人有權力動用信託本金以分配給一位或多為受益人的信託（「第一信託」），受託人也可執行此權力，將第一信託全部或部分的本金指定給其他信託（「第二信託」）的受託人，但在指定時第一信託及第二信託的受益人要相同。除了上述的限制外，第二信託得具有與第一信託不同的分配條款。第二信託得有不同於第一信託的管理規定。受託人在行使根據本條(o)所賦予的權力之前，必須取得信託保護人的書面同意。

 

EIGHTH  Exclusive Duties of Trustee

Notwithstanding any other provision of this Agreement, the Trustee shall have the following exclusive administrative duties, which shall be performed by the Trustee in the Trustee's sole discretion and not at the direction of any Adviser or Trust Protector, except for paragraphs (a) and (f) that follow to the extent such duties involve investment decisions:

第八條  受託人的專有職責

儘管有本合約的其他規定，在符合第十(b)(1)條的前提下，受託人應承擔以下專有的行政責任（除了以下涉及投資決定的第(a)與(f)項外），並在受託人的單獨裁量權下行使，而非在任何顧問或信託保護人的指示下行。

(a) To maintain an account or accounts for the purpose of the custody and safekeeping of the Trust assets, receiving trust income and contributions and from which trust expenditures and distributions are disbursed.

(b) To maintain storage of tangible personalty and evidence of intangible Trust property.

(c) Subject to section (c) of Article TWENTY-FOURTH, to maintain Trust records and to originate, facilitate and review Trust accountings, reports and other communications with the Notice Recipients, the Trust Protector and others (including unrelated third parties).

(d) To maintain an office for Trustee meetings and other Trust business.

(e) Subject to section (c) of Article TWENTY-FOURTH, to respond to inquiries concerning any Trust from the Notice Recipients, the Trust Protector and others (including unrelated third parties).

(f) To execute documents in connection with the performance of its duties under this Article.

(g) To retain accountants, attorneys, agents and other advisers in connection with the performance of the Trustee's administrative duties.

(h) To prepare and file (or arrange for the preparation and filing of) income tax returns for the Trust, and to file any disclosure forms required by the IRS.

(i) To allocate receipts and expenses to income or principal or partly to each.

(a) 為信託財產的保管及保全目的，信託收益的收取及本金的贈入，或信託的花費或分配，要保有不同的分類帳戶。

(b) 保存有形的個人物品及無形信託財產的證據。

(c) 在符合第二十三(c)條的前提下，保存信託紀錄及發起、促進、審查信託會計，報告及其他與應受通知人、信託保護人、及其他人（包含無關的第三方）的通聯紀錄。

(d) 為受託人的會議及信託業務維持辦公場所。

(e) 在符合第二十三(c)條的前提下，對於任何來自應受通知人、信託保護人或其他人士（包括無關的第三方）關於信託的詢問作出回應。

(f) 出具為履行本條規定職責的文件。

(g) 為履行受託人管理職責聘用會計師、律師、代理人及其他顧問，費用由本信託承擔。

(h) 為信託準備並申報（或安排他人準備並申報）所得稅申報表，並提交國稅局要求的任何揭露文件。

(i) 將收入與支出分配為收益或本金，或部分分配至二者。

 

NINTH  Investment Direction Adviser

Notwithstanding any other provision of this Agreement, there shall at all times be one or more Investment Direction Advisers (the “Investment Direction Adviser” or “Investment Direction Advisers”) to serve in accordance with this Article. The role and function of the Investment Direction Adviser is set forth in this Article. The Investment Direction Adviser shall serve in a fiduciary capacity and conform to the purposes of this Agreement. The Investment Direction Adviser shall be considered an “investment trust adviser” within the meaning of N.R.S Section 163.5543 or any successor statute.  Subject to the provisions of this Agreement, the Investment Direction Adviser shall have all of the powers and discretions of an investment trust adviser under N.R.S Section 163.5557(2) or any successor statute.

第九條  投資指示顧問

儘管本合約其他條文所述，根據本條，無論何時應有一位或一位以上的投資指示顧問在任，投資指示顧問有受託責任，並應遵守本合約之意旨。投資指示顧問應為內華達州修訂法規第163.5543條或任何後續法規中的「投資信託顧問」。在符合本合約規定的前提下，投資指示顧問應具有內華達州修訂法規第163.5557(2)條或任何後續法規所規定的投資信託顧問的所有權力及裁量權。

(a) Initial Appointment of Investment Direction Adviser 

The initial Investment Direction Adviser shall be [Name of Investment Direction Adviser]. All additional and subsequent Investment Direction Advisers shall be appointed in the manner provided in this Article. If more than two persons are serving as Investment Direction Adviser, an affirmative vote of a majority of such Investment Direction Advisers must be reached with respect to any decisions, actions taken or direction given. Otherwise, the Investment Direction Advisers must act unanimously.  Notwithstanding the foregoing, if more than one Investment Direction Adviser is serving, the Investment Direction Advisers may designate one such Investment Direction Adviser to communicate all directions to the Trustee.

(a)起始投資指示顧問之指派

 起始投資指示顧問為[Name of Investment Direction Adviser]。所有新增及繼任之投資指示顧問須按照本條規定指派。若投資指示顧問超過兩位，任何決定、行動、發出指示，皆須取得投資指示顧問過半數之贊成投票。否則全體投資指示顧問須一致行動。即便有前述規定，若有超過一位投資指示顧問在任，得指定一位投資指示顧問與受託人溝通。

(b) Role and Function

The Investment Direction Adviser shall hold and may exercise the full power to direct the Trustee with regard to the management of the investments of the Trust, including, but not limited to, the purchase, sale and retention of all of the Trust assets, and the exercise of voting, subscription, conversion, option and similar rights with respect to such property and the participation in and consent to any voting trust, reorganization, merger, dissolution or other action affecting any such property.  The Trustee shall follow the written direction of the Investment Direction Adviser with respect to all matters relating to the management and investment of Trust assets.  The Investment Direction Adviser shall have the sole authority and responsibility for all investment decisions with respect to the assets of the Trust.

(b)角色與功能

投資指示顧問得保留或執行其指示受託人關於管理信託投資之事宜，包括但不限於全部信託財產的購買、出售、保留，與關於該財產的投票、認購、轉換、選擇權與相似權利，及參與及同意任何股權信託、重組、合併、解散或其他影響該財產的行為。所有關於信託財產的管理與投資，受託人應遵循投資指示顧問的書面指示。投資指示顧問對信託財產的所有投資決定，有絕對權力且負完全責任。

(c) Loans, Guarantees and Creation of Entities 

Without in any way limiting the broad powers conferred upon the Investment Direction Adviser pursuant to this Article, the Investment Direction Adviser shall have the specific authority to direct the Trustee (i) to borrow and lend money and to guarantee the repayment of any indebtedness, for such periods of time and upon such terms and conditions as to rates, maturities, renewals and securities as the Investment Direction Adviser deems advisable, including the power to borrow from the Trustee itself and any of its affiliates and (ii) to mortgage, pledge or encumber such portion of the Trust property as the Investment Direction Adviser deems appropriate to secure any loans or indebtedness and as makers, endorsers or guarantors to renew or modify existing loans or guarantees.  The power to direct the Trustee to guarantee loans shall include the power to direct the Trustee to guarantee the loans of any partnership, limited liability company, corporation, business trust or other business entity owned in whole or in part by the Trust.  The Investment Direction Adviser shall also have the specific authority to direct the Trustee to create partnerships, limited liability companies, corporations, business trusts or other business entities and to transfer any portion of the Trust estate to such entity. Further, the Investment Direction Adviser shall have the authority to direct the Trustee with regard to amending, securing, paying, and otherwise dealing with any debts, promissory notes, and other financial obligations of the Trust.

(c) 貸款、擔保及創設實體

不限於本條所授予投資指示顧問之權力，投資指示顧問應有下列特別權力指示受託人：

(i)在一定期間內，借出或借入款項及保證償還債務，其利率、到期、展期及保證均依投資指示顧問認為適當之條件，包括向受託人或其關係企業借款；

(ii)以信託財產抵押、質押、設定負擔，擔保借款或負債，並作為立借據人、背書人或保證人以展期或修正現有貸款或保證；包括指示受託人為信託持有其全部或一部之合夥、有限責任公司、公司、商業信託或其他企業實體保證貸款之權力。投資指示顧問應有特別權力指示受託人設立合夥、有限責任公司、公司、商業信託或其他企業實體，並移轉任何信託財產給該實體。此外，投資指示顧問應有權指示受託人對信託債務、保證票據及其他金融義務，予以賠償、擔保、償還或處理。

(d) Directions to Trustee

Any direction from the Investment Direction Adviser to the Trustee shall be in writing, delivered by mail, courier, facsimile transmission, electronic mail, or otherwise in such form as the Trustee may specify from time to time by written notice to the Investment Direction Adviser.  Upon receiving a written direction from the Investment Direction Adviser, the Trustee shall within a reasonable time period attempt to contact the Investment Direction Adviser in order to confirm the authenticity of such written direction. If the Trustee is unable to obtain confirmation from the Investment Direction Adviser that the written direction was authentic, the Trustee shall not carry out such written direction, and shall be exonerated from any and all liability in connection with not carrying out the written direction. The Trustee shall have no obligation to investigate or confirm the authenticity of directions it receives or the authority of the person or persons conveying them, and the Trustee shall be exonerated from any and all liability in relying on any such direction from a person purporting to be the Investment Direction Adviser without further inquiry by the Trustee.

(d)指示受託人 

投資指示顧問給予受託人之指示必須為書面文件，透過信件、快遞、傳真、電子郵件或其他方式傳遞給受託人。受託人收到投資指示顧問的書面指示後，受託人應在合理時間內嘗試以電話聯繫投資指示顧問，以確認該書面指示的真實性。若受託人無法在收到書面指示後取得投資指示顧問電話確認該書面指示為真，則受託人將不得執行該書面指示，並毋須承擔任何責任。受託人沒有義務調查或確認指示文件的真實性，或傳遞文件之人是否經過授權。受託人信賴聲稱為投資指示顧問所給予的指示，不須負法律責任，亦毋須進一步詢問投資指示顧問。

(e) Liability of Trustee

Notwithstanding any other provision herein except Article EIGHTH, with respect to any part of the trust property subject to the direction of an Investment Direction Adviser, the Trustee shall be a “directed fiduciary” within the meaning of N.R.S Section 163.5548 and, as such, shall be entitled to the full protection of N.R.S Section 163.5549 without limitation. The Trustee shall exercise all powers with respect to investment decisions and all related management powers relating to the acquisition, disposition, retention, exchange, change in character, lending, borrowing, pledging, mortgaging, managing, voting, leasing, granting of options with respect to, insuring, abandoning, or in any other way relating to the investment or management of the assets of the Trust, only upon the written direction of the Investment Direction Adviser. The Trustee shall be under no duty to inquire into or monitor or question the prudence of, and shall have no liability of any kind with respect to, the investment of the Trust assets or the directions of the Investment Direction Adviser (or the failure of the Investment Direction Adviser to act) pursuant to this Article, notwithstanding any appearance of, or actual, conflict of interest of the Investment Direction Adviser or any other party. Any and all review of the investments by the Trustee shall be conclusively presumed to be solely for statement, tax reporting and/or other administrative purposes. The Trustee shall have no duty to conduct an independent review of documents presented to it by the Investment Direction Adviser. The Trustee shall act solely at the direction of the Investment Direction Adviser in executing and delivering any and all documents, such as purchase and sale agreements, necessary or convenient to, or otherwise prepared in connection with, the purchase, sale, exchange, transfer, pledge or other disposition or encumbrance of Trust investments and in making any and all representations and warranties appearing in any such documents. The Trustee shall not be obligated to forward to the Investment Direction Adviser any investment information about the assets/liabilities held in the Trust, including but not limited to any proxy, prospectus, company report or notice, without the specific written request of the Investment Direction Adviser. If directed to vote proxies, the Trustee shall not thereafter be liable for the manner in which those securities are voted or for any direct or indirect result of the voting.

(e)受託人之責任

儘管本合約其他條文所述，除第八條外，受限於投資指示顧問指示之信託財產，受託人為內華達州修訂法規第163.5548條定義之「受指示受託責任人」，且受到內華達州修訂法規第163.5549之保障（即受限於投資指示顧問指示之信託財產部分，受託公司毋須負擔相關責任）。受託公司僅在投資指示顧問之書面指示下，應執行所有投資決定之相關權力，及關於獲取、處置、保留、交換、變更、借貸、抵押、貸款、表決決議、出租、授予選擇權、購買保險、棄置、及其他任何投資或管理處置信託財產之權力。

對於信託財產的投資或投資指示顧問根據本條規定做出的指示（或投資指示顧問未採取行動），受託人沒有義務調查、監督或質疑其審慎性，也不承擔任何責任，即使投資指示顧問或任何其他方存在任何表面或實際的利益衝突。受託人對投資的任何及所有審查應被最終推定為僅出於報表、報稅及／或其他管理目的。受託人沒有任何責任對於投資指示顧問提供之檔案進行獨立之審核。受託人僅按照投資指示顧問的指示，簽署及交付與本信託投資的購買、出售、交換、轉讓、質押或其他處分或抵押有關的任何及所有必要或便利的文件，例如買賣合約，或另外準備與之相關的文件，並提出該些文件中所載的聲明與擔保。在沒有投資指示顧問的書面特定要求時，受託人沒有責任轉交任何關於本信託下之財產、負債等任何投信息予投資指示顧問，包含但不限於公司股東代理書、募股說明、公司報告及通知。如果在投資指示顧問的指示下代理投票，受託人在之後對於投票之結果不負任何責任。

(f) Liability of Investment Direction Adviser

The Investment Direction Adviser need not inquire into the Trustee's performance of its duties, and shall not be held liable for any loss whatsoever to any Trust, unless it results from actions taken through willful misconduct or gross negligence (pursuant to the limitations set forth in N.R.S Section 163.004(3)(a)) proven by clear and convincing evidence in the Court then having primary jurisdiction over the Trust, which such Court shall be the Nevada District Court for so long as Nevada remains the situs of the Trust. Notwithstanding the foregoing, the instrument appointing any Investment Direction Adviser may provide that such Investment Direction Adviser shall be required to abide by a more rigorous standard, including but not limited to the prudent person standard imposed by N.R.S Section 164.705 et seq., or in any corresponding provision of law which may be later enacted.

(f)投資指示顧問之責任

投資指示顧問不須調查受託人就其義務之履行情况，且不應對信託的任何損失負責，除非有明確證據經受託公司所在之法院認為基於內華達州修訂法規第163.004(3)(a)條之故意不當或重大過失行為。儘管如上所述，指派投資指示顧問的文件可要求該被指派投資指示顧問承受更嚴格的標準，包括但不限於內華達州修訂法規第164.705條的謹慎投資人標準。

(g) Indemnification

The Trustee shall, to the extent of the Trust assets and solely payable from the Trust assets, indemnify the Investment Direction Adviser for all losses, costs, damages, expenses and charges, public and private, including reasonable attorneys' fees, including those arising from all litigation, groundless or otherwise, that result from the performance or non-performance of the powers given to the Investment Direction Adviser under this Agreement (unless the Investment Direction Adviser has acted in a manner that does not comply with the standard of liability applicable to the Investment Direction Adviser).

(g)賠償

受託人在信託財產可支付的範圍內，承擔因本合約授予投資指示顧問權力之行為或不行為所產生的損失、成本、損害、費用與支出，不論公訴或私訴，包括合理的律師費（因訴訟而產生，或無理由或其他理由產生），除非投資指示顧問的行為不符合其責任標準。

(h) Resignation of Investment Direction Adviser

Any Investment Direction Adviser serving hereunder may resign at any time by providing a written instrument delivered to the Trustee, the Trust Protector and the Notice Recipients. Such resignation shall become effective at such time as the resigning Investment Direction Adviser shall provide in the resignation instrument.

(h)投資指示顧問之辭任

 任何投資指示顧問得隨時以書面通知受託人、信託保護人及應受通知人其辭職，並應於辭職書中載明之時點生效。

(i) Removal of Investment Direction Adviser

The Trust Protector shall have the power to remove any Investment Direction Adviser (other than [Name of Investment Direction Adviser], unless [Name of Investment Direction Adviser] is incapacitated) by providing a written instrument delivered to such Investment Direction Adviser, the Trustee and the Notice Recipients.  The removal shall become effective at such time as the Trust Protector indicates in the removal instrument.

(i)投資指示顧問之移除

信託保護人有權力移除投資指示顧問（除了[Name of Investment Direction Adviser] 以外，除非 [Name of Investment Direction Adviser]已無行為能力），且應以書面通知該投資指示顧問、受託人及應受通知人，並於解任通知書中所載明之時點生效。

(j) Appointment of Additional or Successor Investment Direction Advisers

[Name of Investment Direction Adviser] shall have the power to appoint a successor Investment Direction Adviser to serve in [her/his] place, by providing a written instrument delivered to such successor Investment Direction Adviser, the Trustee and the Notice Recipients. No other Investment Direction Adviser shall have the authority to appoint his or her own successor.  In the event [Name of Investment Direction Adviser] does not exercise this power or the designated successor Investment Direction Adviser does not accept such designation, the Trust Protector shall have the power to appoint a successor Investment Direction Adviser upon [Name of Investment Direction Adviser]'s resignation or inability to serve, and to appoint additional Investment Direction Advisers if at such time there are fewer than three Investment Direction Advisers serving and shall appoint a successor Investment Direction Adviser within thirty (30) days after the death, resignation, removal or incapacity of the last serving Investment Direction Adviser, by providing a written instrument delivered to such additional or successor Investment Direction Adviser, the Trustee and the Notice Recipients. The appointment of additional or successor Investment Direction Advisers shall become effective at such time as indicated in the appointment instrument and upon written acceptance by the designee. For such period as there otherwise would be no then serving Investment Direction Adviser, the Trust Protector shall serve as both Trust Protector and Investment Direction Adviser.  The fact that there is no Investment Direction Adviser serving at a given time does not obviate the requirement that an Investment Direction Adviser direct the Trustee to act with respect to investment decisions, and the Trustee shall have no responsibility with respect to investment decisions and shall not be liable for failing to act with respect to investment matters, in the absence of a direction from an Investment Direction Adviser.

(j)新增或繼任投資指示顧問之指派

[Name of Investment Direction Adviser] 有權以書面通知繼任投資指示顧問、受託人及應受通知人，指派繼任投資指示顧問替代其職位。沒有其他投資指示顧問有權力指派其繼任投資指示顧問。當[Name of Investment Direction Adviser]未行使此權力或繼任投資指示顧問不接受指派，且[Name of Investment Direction Adviser]辭任或無法擔任時，信託保護人應指定繼任投資指示顧問。並且於投資指示顧問少於三位時，信託保護人得新增投資指示顧問；信託保護人應於最後一位投資指示顧問過世、辭任、解任、或無行為能力情况下，30天內書面通知新增或繼任投資指示顧問、受託人、應受通知人，指派繼任投資指示顧問。指派經受指派人書面同意後於指派書中載明之時點生效。在沒有人作為投資指示顧問時，信託保護人同時擔任信託保護人與投資指示顧問。在沒有任何投資指示顧問的時期，不代表不須要由投資指示顧問指示受託人執行投資決定，在沒有投資指示顧問指示的情况下，受託人對投資決策不承擔任何責任，也不應對未能就投資事項採取行動負責。

(k) Power to Hire Agents 

The Investment Direction Adviser shall have the power to employ agents and direct the Trustee to pay such agents out of the Trust estate, such compensation as the Investment Direction Adviser deems reasonable. The Investment Direction Adviser may at any time and in its sole discretion provide investment and management services through a sub-adviser of the Investment Direction Adviser's selection. The Investment Direction Adviser shall be solely responsible for the supervision and oversight of any sub-adviser. The Investment Direction Adviser shall notify the Trustee in writing of its selection of any sub-adviser, and the Trustee shall be entitled to rely upon information and direction received from any sub-adviser until it receives written notification from the Investment Direction Adviser of its termination of such sub-adviser.

(k)僱用代理人之權力

投資指示顧問有權僱用代理人，並有權指示受託人由信託財產中支付代理人合理報酬。投資指示顧問隨時以其獨立裁量權透過其選擇的副手顧問提供投資與管理服務。投資指示顧問對副手顧問之監督負完全責任。投資指示顧問應書面通知受託人其選擇之副手顧問，且受託人有權信賴副手顧問提供之信息與指示，直到收到投資指示顧問之書面通知終止該副手顧問。

(l) Compensation

The Investment Direction Adviser shall be entitled to reasonable compensation for its services as agreed upon in writing by the Investment Direction Adviser and Trust Protector.

(l)報酬

投資指示顧問有權根據與信託保護人之書面協議，為其服務收取合理酬勞。