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EFTA01266427

criticaltrust document

First Amendment to the Amendment and Restatement of the Jeffrey E. Epstein 2014 Trust

Dataset
Dataset 10: Evidence & Media Files
Type
TRUST DOCUMENT
Date
September 1, 2015
Pages
6
Classification
HIGH
File Size

Summary

6-page amendment to the A&R (EFTA01266403). Key changes: (1) Amendment power simplified — Epstein can now amend unilaterally by delivering to one trustee (was: all trustees must sign), making Indyke sole gatekeeper. (2) New Section 2.5 employment cliff — employee-beneficiaries must work for estate 1 year post-death or forfeit bequests; "misconduct" forfeiture trigger controlled by trustees. (3) Two golden handcuffs bequests (A.36-37) — $200K each for 2 years of continued service, names redacted. (4) $3M to Michelle Fern Saipher (Indyke's wife) for FT Real Estate/KCAC LLC real estate purchase at 2 Kean Court, Livingston NJ — conditioned on remaining married to Indyke. (5) Lyn & Jojo LLC transfer reveals Indyke as nominee property holder. (6) Kahn bequest confirmed at $5M. (7) Three new staff bequests (A.33-35) including Janusz Banasiak at $58.5K. All three trustees re-signed in September 2015.

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Linked Entities2

NameTierRole
Jeffrey EpsteinT1subject
Jes StaleyT1subject

Timeline Events1

September 1, 2015
First Amendment to Epstein 2014 Trust — employment cliff and amendment power changelegal

Cited In Stories9

[1]
The Golden Handcuffs

First Amendment — Section 2.5 employment cliff provision

p. p. 2
[2]
The Golden Handcuffs

Employment cliff forfeiture trigger for voluntary discontinuation or misconduct

p. pp. 2-3
[3]
The Golden Handcuffs

Bequest A.36 — $200K conditional on two years of continued service

p. p. 1
[4]
The Golden Handcuffs

Bequest A.37 — identical conditional bequest for female employee

p. p. 1
[3]
The Trustee With No Exit

First Amendment — Staley re-signs; adds employment cliff and golden handcuffs

p. Full document
[4]
The Man Who Held Every Key

First Amendment — $3M to wife for NJ real estate, conditioned on marriage

p. Section 2.3.A.24 (new)
[6]
The Man Who Held Every Key

First Amendment — amendment now requires delivery to only one trustee

p. Section 1.3.A
[11]
The Man Who Held Every Key

First Amendment — Indyke as nominee holder of Lyn & Jojo LLC

p. Section 2.3.A.12
[5]
The System

First Amendment — employment cliff, golden handcuffs, misconduct forfeiture

p. Section 2.5

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