Husband transfers to _________ and _________, both of _________, state of _________, as trustees, the following policies of life insurance and the following shares of stock: _________.

Husband agrees to transfer and deliver to the trustees, properly executed, any further document necessary to vest title in trustees in the property, and to have trustees designated as the irrevocable beneficiaries in the policies of life insurance. He further agrees to continue the payment of all premiums on the policies and interest on loans on them, if any, during his lifetime, or until such time as the policies have been fully paid in.

(a). It is agreed that during the lifetime of husband, the trustees shall hold the property transferred to them as security for the full and faithful performance of all the terms of this agreement on the part of husband, and that should husband make any default in any of the payments agreed by him to be made under the terms of this agreement, either to wife or otherwise, that then the trustees in their discretion may dispose of any or all the property transferred to them by this agreement, or may pledge the same, or may borrow on the same, sums sufficient to make up payments as to which husband has defaulted, or may exercise any rights of ownership in reference to such property as they shall deem advisable. The discretion of the trustees as to whether they shall sell property, continue to hold the same, pledge property, or borrow on the policies is absolute and unrestricted, they to have the sole discretion as to which steps shall be taken. The parties authorize the trustees to sell the securities at public or private sale without notice, on proof satisfactory to them that a default has been made by husband, it being agreed that the trustees, during the lifetime of husband, are acting solely as trustees for husband and wife, and that the rights of the children in the property transferred to trustees shall not mature until the death of husband and shall only be determined as of that date.

(b). Upon the death of husband, the trustees shall hold the property for the following trusts and uses: _________.

In the event of the failure of any trustee to act for any cause, a substitute trustee shall be designated, who shall be vested with the same powers as conferred in this agreement on the original trustees; such trustee shall be designated by the surviving trustee and by husband and wife. In the event of the death of both trustees, the parties shall have the right to designate successors, and on the death of either of the parties, the surviving trustee, with the consent of the surviving party, shall designate a substitute trustee. In the event of the death of both parties, the surviving trustee shall have the right to designate a cotrustee.

It is agreed that the agreement and the creation of the trust fund in this agreement is absolute and binding on the parties, irrespective of any developments which may arise, and that the same shall survive any judgment or decree rendered in any matrimonial action (divorce or otherwise) between the parties, of any name, nature or description.