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HomeMy WebLinkAbout94-06022 . . " " , ' " '.'i " " " , ',i " , I "',I , , . ., " .1') , , " " .,1,' " iLl " , , , 'jl, "" " .', ,', ,...-' /'. .---- ,...""....~..... ,. , , .,' , , , , ., '. " ~ J , n ('J ~ " , , . .. .__.,. _:'41<:-''41<'''''''41< '41<. .. _ .. .-:-. -'*,.~-,.~,.,.,.,.~ ~ . . . . . . . . . . . . . i . . . . I . : . . . . . . . . . . L.. IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY STATE OF '* PENNSYLVANIA .. JAMESLJ;NDENSANDERS, .JR.... . .. I , .. II N O. .....9.~.~.~.O'.~.2 ................ 19 94 VersU$ PAMEL~. .F~EET.. .~ANDERS DECREE IN DIVORCE July 2.... 97 ' d AND NOW. .. , .. . . .. .. .. . , .. . , .. .. , .. . '. 19,..,... It II or ered and decreed that ." -!~~.e;~. ~.~~<;i~,n; ,1?~~.qE!~~", ,.:[r.', , . , . , , " . . . . .. .. plaintiff. and." ,~~!".~~':'. ;F.~~~~, .~~~,~-:~~.. ,.. . ,. . , , ,.,. . , . . . . .,., . .... defendant, are divorced from the bonds of matrimony. The court retains jurisdiction of th. following claims which have been raised of record In this action for which a final order has not yet been ent.red; . :~~!l, .~~~~.~ .~~. ,~h';l. .~rc;>p~.~t:y. ,S.~~~l.~~~!'l,t. .~']~,e,E!l!'~~.~, <;i!'.t,~~. fJ/.VU.9,7 between the parties is hereby incorporated but not merged, . . .tnto .th1'. 'D&t:'ree',' . .,.' ., . , .. . . ., " . . . , ". . " . . ,. .... . , ,. ..., .' , . . ,'. , Dy Th. ICI.u.,:/) . /J/d. ~,"~OJfI. . AU...., : " ..J.L A ~_ J. . .. "t.I~U'4-'. .' "'",.. 7 ti~, ~( k' &A-. ~ ' . ' '.o'h~no'.., , --,---_., -----~-~-,._--_._._,--- --- . -... - - - - - - - - .. ..... - - .. - .. ..-.. . . . . . . . . . . . . . I . . . . . i . . . . . . . . . . . . * 8 a . ~2- <,; ",.... \. \ ~ l~. ;_ <~. i,-,I 0.... ~l. " , cre. 0' \JJ ..d _\., li~ . r-\ (rO, o' C.....: -" r~.; 'l t' , ).'~.:? L'", ; '::,'~ ,,: f' -'.'.';' .i'.i ..' tJ- '0 ~"l - ~-";' " OJ' () \~. ~. 'a' .. . , .. .~ - .. ..".,...... - Me,..I.. WA~......Ci: II NUIl'CK 100 I"N' $'.11' . .. . " ..,. "... , . ..A........... .A t'l,o. " " 5. Date plaintiff's Waiver of Notice in 13301(c) Divorce was filed with the Prothonotary: on or about July 16, 1997. Date defendant's Waiver of Notice in 13301(c) Divorce was filed with the Prothonotary: on or about July 16, 1997. 6. The parties request that the Court enter a Qualified Domestic Relations Order pursuant to the Stipulation for Entry of Qualified Dometic Relations Order executed by counsel for both parties in this matter. The original of this Stipulation is filed with this Praecipe. 7. The parties also request that the Property Settlement Agreement dated June 18, 1997, a copy of which is attached as Exhibit "A" hereto, be incorporated by reference but not merged into the divorce decree pursuant to paragraph 15 of the Property Settlement Agreement. MCNEJ:~~AJ.oLA E , BY~ eK Delano M. Lantz, I.D. No. 21401 100 Pine Street P.O. Box 1166 Harrisburg, PA (717) 237-5348 Attorneys for Plaintiff 17108-1166 Dated. July F> , 1997 ,.. ( . ," PROPERTY SETTLEMENT AGREIMBNT THISAGREDmNT, made this /ftt. day of June, 1997, by and between JAMBS LINDEN SANDERS. JR. (hereinafter referred to as "HUSBAND'''), and PAMELA FLIlET SANDERS (hereinafter referred to as "WIFE") . WITNESSETH, That: WHERaAS, the parties hereto are husband and wife, having been lawfully joined in marriage on August 7, 1965, in Cromwell, Connecticut. WHEREAS, two (2) children were born of this marriage, but neither of them are minors; WHERaAS, it is the intention of the parties to settle fully and finally their respective financial and property rights and obligations as between 'C!ach other arising out of the marriage relationship or otherwise, including without limitation (1) the settling of all matters between them relating to the ownership of real alld personal property; (2) the settling of all matters between them relating to the past, present and future support and/or maintenance of HUSBAND and WIFE; and (3) the settling of all matters between them relating to any and all rights, titles and interests, claims and possible claims in or against the estate of the other. - EXHIBIT "A" - '. . " NON, TNI.IWORI, with the foregoing recitals being herein- after incorporated by reference and deemed an essential part hereof in consideration of the foregoing recitals, the mutual promises, covenants and undertakings herein set forth, and for good and valuable consideration, r.eceipt of which is hereby acknowledged by each of the parties hereto, HUSBAND and WIFE, each intending to be legally bound hereby, covenant and agree as follows: 1. ADVICI 0,. COUNSJ:L HUSBAND and WIFE declare that they have each had a full and fair opportunity to obtain independent legal advice of counsel of their selection. WIFE has been independently represented by Barbara Sumple-Sullivan, Esquire. HUSBAND has been independently represented by Delano M. Lantz, Esquire. Each party acknOWledges that they are executing this agreement freely and voluntarily, having obtained such knowledge and disclosure of their legal rights and obligations and that they acknowledge that this agreement is fair and equitable and is not the result of any fraud, coercion, duress, undue influence or collusion. 2. PI.SOHAL RIGHTS HUSBAND and WIFE may and shall, at all times hereafter, live separate and apart. Each shall be free from all control, restraint, interference or authority, direct or indirect, by the other in all respects as is she or he were unmarried, except as may be necessary to carry out the provisions of this Agreement. - 2 - . . Each may reside at such place or places as she or he may select. Each may. for his or her separate use or benefit, conduct, carry on and engage in any business, occupation, profession or employ- ment which to him or her may seem advisable. This provision shall not be taken, however, to be an admission on the part of either HUSBAND and WIFE of the lawfulness of the causes which led to, or resulted in, the continuation of their living apart. HUSBAND and WIFE shall not molest, harass, or malign the other or the respective families of each other, nor compel the other to cohabit or dwell in any manner with him or her, nor in any way interfere with their peaceful existence separate from each other. 3 . D.BTS Each party represents that they have not contracted any debt or liability for the other for which the estate of the other party may be responsible or liable except as otherwise provided herein, and that except only for the rights. arising out of this Agreement, neither party will hereafter incur any liability whatsoever for which the other party or the estate of the other party will be liable. Each party agrees to inder.mify and hold harmless from and against all future obligations of every kind incurred by them, including those for necessities. To the best of the parties' knowledge, the parties affirm no other joint debts exist. . 3 - '. . ... WAIVIIR OW APPRAISAL AND INVDlTORY The parties acknowledge and agree that they have each had an opportunity to value or have appraised any and all marital property, and they do hereby waive a formal appraisal and inven- tory of same, and no statement or representation by either party as to value shall be deemed a misstatement or misrepresentation to the other or be deemed fraudulent. 5. UQUSEHOLD GOODS AND TANGIBLB PBRSONAL PROPBRTY HUSBAND and WIFE do hereby acknowledge that they' have heretofore divided the household goods and tangible personal property including jewelry, clothes, furniture, and similar items. HUSBAND agrees that all such household goods and tangible personal property currently in the possession of WIFE shall be the sole and separate property of WIFE except for the following items: (a) radial arm saw; (b) drill press; (c) Lionel trains; (d) textbooks and other books; and (e) a few items of HUSBAND's clothing. HUSBAND agrees that he will remove any such items within thirty (30) days after the date of this agreement. Upon his failure to remove such items within thirty (30) days after such date, HUSBAND hereby agrees that any and all such! telns remaining in WIFE's possession thirty (30) days after the date of this agreem- - 4 - . ent shall also become the property of WIFE. WIFE agrees that all household goods and tangible personal property in the possession of HUSBAND shall be the sole and separate property of HUSBAND. Each of the parties does hereby specifically waive, release, renounce and forever abandon whatever claims, if any, he or she may have with respect to any of the above said items which are the sole and separate property of the other. This document shall constitute a bill of sale for said sole property. Ii . REAL ESTATE The parties jointly own or until recently jointly owned property at 15 Farm House Lane, Camp Hill, Pennsylvania 17011. Said house is or recently was encumbered with a mortgage due and owing to GMAC on which both HUSBAND and WIFE are obligors. HUSBAND agrees to transfer the said real estate to WIFE, and WIFE agrees to refinance and obtain HUSBAND's release from the mort- gage due and owing to GMAC. WIFE has obtained the approvals for refinancing the mortgage, and HUSBAND has executed a deed convey- ing his interest in the said real estate to WIFE. If the trans- fer and release are completed before the execution of this agreement, then this agreement is intended to ratify the transac- tions and confirm that the transfer and refinancing were done pursuant to and as part of this settlement agreement. - s - . , . MOTOR VIHICLIS WIFE shall have sole title and ownership of the parties' 1986 H~nda. HUSBAND shall have 601e title and ownership of the parties' 1990 Celica. Neither of these vehicles are encumbered. 8. PINSION'BMPLOYMENT RIGHTS HUSBAND has acquired certain retirement rights and benefits with his former employer, EI DuPont de Nemours and Company. These benefits include a Savings and Investment Plan (hereinafter "SIP") and a Pension Plan. The parties agree to execute a stipulation for the entry of a Qualified Domestic Relations Order with respect to the SIP and Pension rights and benefits in the form attached hereto as Exhibit "A". The intent of the parties is to divide these benefits as follows: A. ~ All property acquired in the SIP account is deemed marital since it was acquired during the mar.riage. At the time of separation, the balance of said account was $312,025. The account has increased as a result of interest or other investment earnings on said amount. The sum of $208,843 shall be awarded to Wife pursuant to the QDRO to be pro-rated between the before-tax and regular assets in the account. B, PENSION HUSBAND has a pension in pay status from EI DuPont. The parties agree that the monthly pension shall be divided equally between the partie.9, The part ies acknowledge that the monthly - 6 - '. benefit after Husband reaches age 62 years will be reduced, and thereafter the reduced amount shall be divided equally. Further, the parties acknowledge that in the event WIFE predeceases HUSBAND, then the WIFE's remaining monthly benefit will revert to HUSBAND in accordance with the plan. 9 , ACCOUNTS A. WIFE shall be the sole owner of the following accounts and/or their proceeds: 1. TIAA and Creff 2. West Shore Teachers Checking and Savings 3. National Financial Services 4 . VanGuard 5. Dauphin Deposit Checking, 6. One-half (1/2) of Dauphin Deposit Savings (current balance) 7. One-half (1/2) of Dauphin Deposit MMF (cur- rent balance) B. HUSBAND shall be the sole owner of the following accounts and/or their proceeds: 1- Meridian Bank :2 . ATT 3. BellSouth 4 . Bell Atlantic S. DuPont Common Stock 6. DuPont 100 Shares Program 7. eRA Pay - 7 - 8. One-half (1/2) of Dauphin Deposit Savings (current balance) 9. One-half (1/2) of Dauphin Deposit MMF (cur- rent balance) 10. :INSURA:NCI A. HUSBAND shall create the "James Linden Sanders, Jr. Life Insurance Trust" with the parties' children, Deborah Page Sanders and Peter Linden Sanders, as co-trustees. The agreement of trust shall be in the form attached hereto as Exhibit "C". If WIFE survives HUSBAND, she shall have the right to receive no less that $749 per month from the Trust for her lifetime so long as any balance whatsoever remains in the trust. At her option, WIFE shall also have the right to receive up to the full amount of all annual income earned by the Trust, after payment of all federal, state and local taxes that are required to be paid by the trust on such annual income. HUSBAND shall designate the "James Linden Sanders, Jr. Life Insurance Trust" as the benefi- ciary of the Chubb Life America United Life and Accident Insur- ance Company Policy No. 000618~31 under which HUSBAND is the insured. He shall also designate the James Linden Sanders, Jr. Life Insurance Trust as the beneficiary of the life insurance coverage existing through DuPont, These beneficiary designations shall be irrevocable by HVSBANO. After the execution of this agreement. WIFE, during her lifetime, shall be solely responsible for the payment of any and all premiums required to maintain the Chubb Life America United Life and Accident Insurance Company - 8 - " 0, Policy in full force and effect. In the event WIFE pre-deceases HUSBAND, HUSBAND agrees that he shall pay the premiums on the Chubb Life America United Life and Accident Insurance Company Policy required to maintain said policy in full force and effect for the remainder of his lifetime. The parties agree that the ultimate beneficiaries of the said James Linden Sanders, Jr. Life Insurance Trust, after the deaths of HUSBAND and WIFE, shall be the parties' children, Deborah Page Sanders and Peter Linden Sanders or their issue in accordance with the provisions of the Trust Agreement attached hereto as Exhibit "C". B. WIFE shall retain full ownership and control of her life insurance policy through John Hancock Life Insurance Compa- ny. 11. ACCOUNTING AND RECONCILIATION OF PENSION PAYMENTS PRIOR TO ODRO BICOMING EFFECTIVE The parties acknowledge that HUSBAND has been providing to WIFE a check on a monthly basis which has been intended to rep=esent her 50% share of the monthly pension benefit from DuPont taking into account the income tax obligations relating to the benefit. HUSBAND agrees to continue to make such monthly payments to WIFE until the QDRO contemplated by this Agreement becomes effective. The parties agree and acknowledge that the intent is that HUSBAND and WIFE shall each receive an equal net amount after payment of all Federal, state and local taxes. For purposes of the Federal taxes, a marginal Federal tax rate of 28' - 9 - I , . . is acknowledged by the parties to be appropriate. HUSBAND has prepared an accounting for the pension payments paid between January 1, 1996 and December 31, 1996. A copy is attached as Exhibit "B". The accounting shows the Federal, state and local taxes that are attributable to such pension payments and the amount of payments made to WIFE with respect to such pension payments. The parties accept and agree to this allocation for 1996. HUSBAND shall make a similar accounting from January 1, 1997 to the date that DuPont allocates the pension pursuant to the QDRO. HUSBAND shall report on his federal, state and local income tax returns all income received from the pension in 1997 and thereafter until the QDRO becomes effective. For 1997 and thereafter, if HUSBAND has received more than 50% of the net pension benefit under the above formula, then he shall make a payment to WIFE in order to equalize the benefit. If WIFE has received more than 50% of the benefit in 1997 or thereafter, under the above formula, WIFE shall make a 'payment to HUSBAND in order to equalize the benefit. In the event a dispute arises in regard to such an accounting, either party may file a petition for special relief with the court to obtain a court determination as to whether any amount is owing to either of the parties with respect to the pension benefits paid after January 1, 1997 until the date the QDRO becomes effective under the guidelines set forth in this paragraph. - 11:) - ~ ' 12. MUTUAL WAIVBR AND RBLKASB or RIGHTS AND CLAIMS CON- 'BRRBD BY THB PBNNSYLVANIA DIVORCB ACT 0' 1980, AS AMmmBD _ HUSBAND and WIFE acknowledge and agree that the provisions of this Agreement are fair. adequate and satisfactory to them. Both parties agree to accept the provisions set forth in this agreement in lieu of and in full and final settlement and satis- faction of all claims and demands that either may now or here- after have against the other for equitable distribution, alimony, alimony pendente lite, counsel f~e6. costs and expenses or other provisions for their support and maintenance before, during and after the commencement of any proceeding for divorce or annulment between the parties, 13. ArTBR ACQUIRED PERSONAL PROPERTY/FUTURE BARNINGS Each of the parties shall hereafter own and enjoy indepen- dently of any claim or right of the other, all items of personal property, tangible or intangible. hereafter acquired by HUSBAND or WIFE, with full power in him or her to dispose of the same as fully and effectively, in all respects and for all purposes, as though he or she were unmarried. 1.. ALI~ONY. SUPPORT AND MAINTENANCE Both parties acknowledge and agree that the provisions of this Agreement providing for equitable distribution of marital property are fair. adequate and satisfactory to them and are accepted by them in lieu of and in full and final satisfaction of any claims or demands that either may now or hereafter have - II - against the other for support, maintenance or alimony. HUSBAND and WIFE further, voluntarily and intelligently, waive and relinquish any right to seek from the other any payment for spousal support, alimony and maintenance. 15. SUBSEOUENT DIVORCE A decree in divorce, entered by a court of competent juris- diction to either party, shall not suspend, supersede or affect the terms of this Agreement. Both parties agree to enter a Consent Decree concerning the provisions of this Agrep.ment in the Court of Common Pleas of Cumberland County, Pennsylvania, or any other Court of competent jurisdiction, as a part of a resolution of any divorce action filed. This Agreement, and the terms and conditions contained herein, as well as the enforcement of said terms and conditions, shall not be contingent upon the granting of a Divorce Decree to eit~er party by the Court of Common Pleas of Cumberland County, Pennsylvania, or any other Court of com- petent jurisdiction. Furthermore, both parties hereto agree to timely execute the appropriate affidavits and consents to secure a No-Fault Divorce as may be required by the Divorce Code of 1980, as amended. Both parties hereto agree that this Agreement may be incorporated into a separate Court Order but shall not merge in such order in the Court of Common Pleas of Cumberland County, Pennsylvania. - 12 - ., " 15 . OTH.R DOCUlDNTATION HUSBAND and WIFE covenant and agree that upon request of the other party, they will forthwith execute and deliver to the other party, any and all written instruments, assignments, releases, satisfactions, deeds, notes or such other writings as may be necessary or desirable for the proper effectuation of this Agree- ment. 17. MUTUAL WAIVER AND RELEASE OP RIGHTS AND CLAIMS IN DTAU Each party hereby releases, waives and relinquishes any and all rights which he or she may now have, or may hereafter have, against the other party under the present or future laws of any jurisdiction (a) to share in the estate of the other party upon the other party's death and (b) to act as executor/rix or admin- istrator/rix of the other party's estate. 18 . MUTUAL RELBASE HUSBAND and WIFE each do hereby mutually remise, release, qUitclaim and forever discharge the other. and the estate of such other, for all time to come, and for all purposes whatsoever, of and from any and all rights, title and interests, or claims in or against the property (incll~d.ing income and gain from property hereafter accruing) of the other or against the estate o.f such other, of whatever nature and wheresoever situate, which she or he now has or at any time hereafter may have against such other, the estate of such other or any part thereof, whether arising out - 13 - . , of any former acts, contracts, engagements or liabilities of such other or by way of equitable distribution, dower or courtesy, or claims in the nature of dower or courtesy of widow's or widower'S rights, family exemption or similar allowance, or under the intestate laws, or the right to take against the spouse's will, or the right to treat a lifetime conveyance by the other as testamentary, or all other rights of a surviving spouse to participate in a deceased spouse's estate, whether arising under the laws of (a) Pennsylvania, (b) any State, commonwealth or territory of the United States, or (c) any other country, or and rights which HUSBAND or WIFE may have or at any time hereafter have for the past, present or future support or maintenance, alimony, alimony pendente lite, counsel fees, costs or expenses. whether arising as a result of the marital relation or otherwise, except, and only except, all rights and Agreements and obliga- tions of whatsoever nature arising or which may arise under this Agreement or for the breach of any thereof. Each of the parties hereto further covenants and agrees for himself and herself and his or her heirs, executors, adminis- trators and assigns, that he or she will never, at any time hereafter, sue the other party or his or her heirs, executors, administrators and assigns, for the purpose of ~nforcing any of the rights relinquished under this paragraph. Each of the parties further covenants and agrees that he or she will permit any will of the other to be probated and allow administration - 14 - upon his or her personal. real or mixed estate and allow effeGts to be taken out by the person or persons who would have beer. entitled to do so had HUSBAND or WIFE died during the lifetime of the other. Each of the parties hereby releases. relinquishes and waives any and all right to act as executor or executrix or administrator or administratrix of the other's estate. It is the intention of HUSBAND and WIFE to give to each other by the execution of this ~roperty Settlement Agreement a full, complete and general release with respect to any and all property of any kind or nature, real, personal or mixed. which the other now owns or may hereafter acquire, except and only except all rights and Agreements and obligations of whatsoever nature arising or which may arise under this Agreement or for the breach of any t~ereof. 19, ~.SSOR'S RIGHTS ~ LIABILITIIS This Agreement shall, except as otherwise provided herein. be binding upon and inure to the benefit of the part~es hereto. their respective heirs. executors, administrators. successors or ass.igns. ~O. S.vUAIIILIII If any provision in this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable. the remaining provisions shall nevertheless continue in full force and effect without being impaired or invalidated in any way. - 15 - ,. " 21. D'l'IR. AGR.~ HUSBAND and WIFE do hereby covenant and warrant that this Agreement contains all of the representations, promises and Agreements made by either of them to the other, and that there are no claims, promises or representations not herein contained, either oral or written. 22. BINDING l,nCT OJ' AGRIIMBNT/WAIVIR This Agreement shall remain in full force and effect unless and until terminated under and pursuant to the terms of this Agreement. The failure of either party to insist upon strict perfor- mance of the provisions of this Agreement shall not be construed as a waiver of any subsequent default of the same or similar nature, nor shall such failure be construed as a waiver of any other term, condition, clause or provision of this Agreement. 23 . BRIlACH If either party breaches any provision of this Agreement, the other party shall have the right, at; his or her election, to sue for damages for such breach or seek such other remedies or relief as may be available to him or her, and the party breaching this contract shall be responsible for payment of reasonable legal fees and costs incurred by the other in enforcing the:ir rights under this Agreement. - 16 - . , JAMES LINDEN SANDERS, JR., ) IN THE COURT OF COMMON Plaintiff ) PLEAS OF CUMBERLAND COUNTY, ) PENNSYLVANIA vs. ) ) CIVIL ACTION - LAW ) PAMELA FLEET SANDERS, ) NO. 94-6022 CIVIL TERM Defendant ) ) IN DIVORCE QUALIrIID DOMlSTIC RILATIONS ORDIR RI DUPONT PINSION PLAN AND SIP AND NOW this day of June, 1997, pursuant to the stipulation and agreement of the parties, the following order is entered in this matter, and it is ordered as follows: 1. This order is intended to be a "Qualified Domestic Relations Order" within the meaning of Section 414 (p) of the Internal Revenue Service Code of 1986, as amended. This order is also entered pursuant to the provisions of the Divorce Code of Pennsylvania, 23 Pa. C.S.A. 53101 et. seq. 2. The participant is the Defendant, James Linden Sanders, Jr. whose Social Security number is 159-34-9955, whose date of birth is January 6, 1943 and whose mailing address is 133 West Locust Street, Apartment 206, Mechanicsburg, Pennsylvania 17055. 3. The alternate payee is the Plaintiff, Pamela Fleet Sanders, whose Social Security number is 047-34-3637, whose date of birth is December 13, 1943 and whose mailing address i8 15 Farmhouse Lane, Camp Hill, Pennsylvania 17011. '. , 4. The participant, James Linden Sanders, and alternate payee, Pamela Fleet Sanders, were married on August 7, 1965. The Court on this date has entered a divorce decree in this matter divorcing the parties from the bonds of matrimony. 5. ~he plans to which this order applies are the DuPont Pension and Retirement plan (herein after referred to as the "Plan") and the DuPont Savings and Investment Plan (herein after referred to as the "SIP"). DuPont Pension and Retirement plan 6. This section of the order applies to the Dupont Pension and Retirement Plan (the Plan) and any successor plans. 7. The ~lternate payee is hereby awarded fifty percent (Sot) of the participant's monthly benefit from the plan for participant's lifetime. The Plan shall begin distributing benefits to the alternate payee as soon as administratively practicable. 8. In the event the alternate payee pre-deceases the participant, the alternate payee's remaining monthly benefit shall revert to the participant. 9. The alternate payee shall ~eceive an equal percentage (fifty percent) of any cosl-of-living or any other ad hoc increase that may be awarded lo the participant. - 2 - Dupont: S'av'inas and InveB~ment plan 9. This section of the order applies to the Dupont Savings and Investment Plan (SIP). 10. The alternate payee is hereby further awarded the amount set forth in this paragraph from the SIP account of the participant. The alternate payee is awarded the sum of $208,843 from the participant's account in the SIP to be pro-rated between the before-tax and regular assets. 11. The SIP shall set up the separate account for alternate payee and transfer alternate payee's portion of the SIP benefit to her account in acc9rdance with this paragraph as soon as administratively practicable. 12. Within a reasonable period after receipt of this order, the plan administrator. shall determine whether this order is a qualified domestic relations order and shall notify the participant and the alternate payee of such determination. Within a reasonable time after the plan administrator has determined that this order is a qu.alified domestic relations order, the plan administrator shall take all such actions as are required to begin distributing the benefits to the alternate payee. 13. The alternate payee shall be responsible for all taxes on the pension plan and SIP benefits paid to her, and alternate - 3 - payee shall include all of the taxable portion of payments made to her pursuant to this order if, as and when received in her gross taxable income. For purposes of Section 72 and 402(a) (9) of the code, the alternate pa}'ee shall be treated as a distributee of any distribution or pa.yments made to such alternate payee under this order. 14. The pension plan and the SIP shall hold and administer the alternate payee's accounts pursuant to their terms and the provisions of the Code and ERISA. 15. The alternate payee shall keep the plan administrator informed of her current mailing address and shall provide proof of age and other information and forms as the pension plan or the SIP plan may reasonably require. 16. The provisions of this order shall not be construed and are not intended to: (al Require the plan to provide any type or form of benefit or any option not otherwise provided for under the plans; or (bl Require the plan to provide increased benefits. (e) Require the payment of benef.its to the alternate payee which are required to be paid to another alternate payee under another order previously determined to be a Qualified Domestic Relations Order. - 4 - . AGRBEMKNT OP TRUST POR THR J~S LINDEN SANDERS, JR. LIFB INSURANCB TRUST By this Agreement, made this ____ day of June, 1997, James Linden Sanders, Jr. as Settlor, hereby establishes a trust, and Deborah Page Sanders and Peter Linden Sanders, as CO-Trustees, agree to hold such property as may be placed in trust hereunder, whsther during the lifetime or by testamentary act, by the Settlor, or (with the consent of the Co-Trustees) any other person, in trust, subject to the terms and conditions set forth below. The name of this trust shall be the "James Linden Sanders, Jr. Life Insurance Trust". Now, therefore, in consideration of the mutual promises herein contained, the parties hereto agree as follows: ARTICLE 1 The primary purposes of the trust shall be: (a) to provide for monthly payments to Pamela Fleet Sanders, the wife of Settlor from whom Settlor intends to be divorced, i.n accordance with the provisions of Article 3 below; and (b) to provide for Settlor's and Pamela Fleet Sanders' children, Deborah Page Sanders and Peter r,inden Sanders, and their issue after the payment of the obligations to Pamela Fleet Sanders after the death of both Pamela Fleet Sanders and Settlor. The Settlor has had issued to himself the following policy of life insurance on his life: (a) Chubb Life American United Life and Accident Insurance Company Policy No, 000618531, Settlor, prior to the establishment of this trust, was the owner and insured under this policy. The beneficiary of the policy has been designated as "Deborah Page Sanders and Peter Linden Sanders, as Co-Trustees, under the James Linden Sanders, Jr. Life Insurance Trust, dated June ,1997". Settlor also is the insured under a DuPont Non-Contributory Life Insurance Policy or plan referenced to Settlor's social security No, 159-34-99Ss and I.D. No. AA3228483. The benefici&ry of this insurance has been designated as "Deborah Page Sanders and Peter Linden Sanders, as Co-Trustees under the James Linden Sanders, Jr. Life Insurance Trust dated June _, 1997". The above Chubb Policy and the beneficiary desig~ations on the life insurance policy and the DuPont life insurance shall form the initial principal of this trust. ARTICLE 2 - DURING THE LIFETIME OF SETTLOR During the lifetime of the Settlor, the Co-Trustees shall hold and administer the trust assets during the term hereof as follows: (a) Preservation a~d Maintenance of Trust Assets. The Co- Trustees shall hold all of the assets of the trust for the benefit and use of the trust beneficiaries, who are Pamela Fleet Sanders and Settlor's and his wife's children, Deborah Page Sanders and Peter Linden Sanders, and their issue. It is the Settlor's primary intent that the trust assets be preserved and maintained for the trust beneficiaries during his lifetime. Therefore the Co-Trustees shall first use any amounts of net income (and to the extent net income is insufficient, any amounts of principal) to preserve and maintain the trust assets, including trust insurance policies and any real property and any buildings or other improvements on that property, if ever any. (b) Accumulation of Income. The Co-Trustees shall periodically incorporate any accumulated income as an integral part of the principal of the trust, to be held, administered, and distributed according to all of its terms, conditions, and limitations. ARTICLE 3 - UPON THE DEATH or THE SETTLOR SURVIVED BY PAMELA FLEET SANDERS (a) In the event of the death of the Settlor, James Linden Sanders, Jr., survived by Pamela Fleet Sanders, his wife at the time of the formation of this trust, and for the rest of the lifetime of Pamela Fleet Sanders,then the Co-Trustees shall pay to Pamela Fleet Sanders no less than $749 per month from the trust for her lifetime so long as any balance whatsoever remains i.n the trust, The Co-Trustees shall n,ake such payments first from income and, if necessary, the balance from principal. Said payments shall be paid over to Pamela Fleet Sanders in monthly installments on the 15th day of each month, Additionally, the - 2 - . Co-Trustees shall pay to Pamela Fleet Sanders up to the full amount of all annual income earned by the trust, in excess of the minimum payments of $749 per month, after payment of all federal, state and local taxes that are required to be paid by the trust on such annual income. The Co-Trustees shall make such additional payments up to the full amount of all annual income in excess of the minimum payments to Pamela Fleet Sanders by February 1 of the following year. Pamela Fleet Sanders shall provide written notice to the trustees of her election to receive any additional income in excess of the minimum monthly payments for a given year by January 15, of the following year. The Co- Trustees shall continue to make such payments to Pamela Fleet Sanders for her lifetime. (b) The Source of Payments. Co-Trustees shall make the periodic payments to Pamela Fleet Sanders from the net income of the trust to the extent the income is sufficient to make such payments. In the event the income is not sufficient to make such payments, the Co-Trustees shall have the power to invade principal to the extent and only to the extent necessary to make the monthly payments of $749 per month. ARTICLE 4 - UPON THE DEATH OF SETTLOR AFTER THE DEATH OF PAMELA FLEET SANDERS Upon the death of both the Settlor and Pamela Fleet Sanders, Co-Trustees shall divide the entire remaining principal of the trust as follows: (a) The principal remaining shall be divided equally among the Settlor's issue, per stirpes, provided, however, that if any such issue is then under the age of thirty-five (35) years, his or her share shall be held for him or her in a separate trust hereunder under the terms of Article 5 below, or, if no issue of Settlor is then living, the same shall be subject to the terms of subparagraph (b) below, (b) Any property stated in subparagraph (a) above or paragraph 5 (c) below to be held under the terms of this subparagraph (b), and any other propertl held in trust hereunder when no issue of Settlor is living which is not effectively disposed of elsewhere herein, shall be held in trust subject to the following provisions. The Co-Trustees shall pay such sums from the income or principal or both to or for the benefit of the issue of Settlor's and Pamela Fleet Sanders' parents or their issue per stirpes, - 3 - ARTICLI 5 - SIPARATI TRUSTS The income and principal of a separate trust in which a share in the trust is held for a beneficiary pursuant to the terms of Article 4(a) above shall be distributed as follows: (a) The income shall be distributed at least quarterly to or for the benefit of the beneficiary, No payment shall be made under this subparagraph (a) which would discharge to any extent the legal obligation of any person for the support of the bene.. f iciary. (b) The Co-Trustees shall pay from the principal such sums to or for any or all of the beneficiary and his or her issue as in the discretion of the Co-Trustees seems proper for their support, maintenance, health care, and education. (c) When such beneficiary shall have attained the age of twenty-five (25) years, the Co-Trustees shall distribute to him or her upon written request one-third (1/3) of the remaining principal balance then held in his or her separate trust; when such beneficiary shall have attained the age of thirty (30) years, the Co-Trustees shall distribute to him or her at written request one-half (1/2) of the remaining principal balance; and when such beneficiary shall have attained the age of thirty-five (35) years, the Co-Trustees shall distribute to him or her at written request the entire balance held in his or her separate trust. If such beneficiary should die before making proper request for the entire balance in his or her separate trust, then the entire balance in his or her separate trust shall at his or her death be distributed, outright or in trust, in such sums or proporcions as such beneficiary may direct in his or her last will. expressly referring to his or her separate trust hereunder, but only among the Settlor's issue and their spouses and persons gifts to whom are then allowable as deductions under Section 2055 of the Internal Rfivenue Code (or any successor provision); and the aforementioned balance in his or her separate trust shall then be distributed per stirpes to his or her issue, or, if no such issue survive him or her, per stirpes to the issue of his or her parent who was a child or more remote descendant of Settlor, or, if no such issue survive him or her, per stirpes to the issue of the Settlor, with the share of any of such issue for whom property is then held in or payable to a separate trust under this subparagraph being added to such separate trust, or, if no issue of theirs are then living, said balance shall be subject to the proviSions of paragraph 4(b) above, - 4 - (d) Notwithstanding the foregoing, if during the lifetime of a person for whom a separate trust under this paragraph was established the interest of such person therein becomes void under the applicable rule against perpetuities, then the balance in ouch separate trust shall then be distributed outright to such person. ARTICLE 6 - INSURANCE PROVISIONS (a) Power to Invest in Life Insurance. In addition to powers otherwise conferred upon the Co-Trustees by law or by other provisions of this Agreement, the Co-Trustees shall have the power to invest in life insurance on the life of the Settlor. If such life insurance is purchased by the Co-Trustees, or if any existing life insurance policies or certificates are transferred to the Co-Trustees, or if the Co-Trustees are designated as the beneficiaries or contingent beneficiaries under any policies or certificates, the following provisions of this Article shall apply to the Co-Trustees's powers and duties with respect to all such insurance on the life of the Settlor. The Co-Trustees shall possess and own all insurance policy rights in and under any of the insurance policies and certificates comprising part of the trust principal (whether purchased by or assigned to the Co. Trustees), and Settlor shall have no interest or right of any kind in or to any of the said insurance policies, certificates and insurance policy rights, Such insurance policy rights shall mean all of the right, title, interest, ownership, control, and incidents of ownership in and under any and all insurance policies that become subject to the terms of this Agreement, and in any and all insurance provided under such policies, together with all additional such insurance, if any, which may be provided in the future under such policies and including specifically but not by way of limitation upon the generality of the foregoing, all of the Settlor's rights with respect to any and all such policies: (i) to any conver.sion privilege, waiver of premium benefit and accidental death benefit, (ii) to receive the indemnities and benefits thereof, (iii) to submit notices of claims. proofs of loss and proofs of disability required for entitlement to or continuance of Iluch inllurance, - 5 - . (iv) to purchase any additional such insurance for which the Settlor may become eligible, (v) to pledge the policy or certificates (or any rights thereunder) for a loan or to obtain from the insurer a loan against the surrender value of the policy, (vi) to cancel any insurance or surrender any policy or certificate, (vii) to assign, pledge', sell or otherwise dispose of any and all right, title, interest, ownership, control, incident of ownership, option, election, privilege or benefit therein or thereunder, and to revoke the same, and (viii) to receive or apply dividends or distributive sharea of surplus, disability benefits, surrender values, or proceeds of matured endowments. (b) Notice to Pamela Fleet Sanders. Notwithstanding the foregoing powers in (a) above, the Co-Trustees shall not cancel any insurance, surrender any policy or take any other action that would reduce the amount of life insurance payable to the Co- Trustees in the event of the death of Settlor without providing written notice to Pamela Fleet Sanders and without her express written approval. If Pamela Fleet Sanders fails to object to any proposed actions by the Co-Trustees within 20 days after the mailing of written notice to her, then such failure to object shall be deemed to constitute written approval by her of the proposed action set forth in such notice. For purposes of this section, written notice to Pamela Fleet Sanders shall be mailed to her by certified mail addressed to: Pamela Fleet Sanders 15 Farmho~se Lane Camp Hill, PA 17011 or to such other address as Pamela Fleet Sanders shall designate in writing to the Co-Trustees. (cl PaYment of Premiums. If during the Settlor's lifetime the trust principal includes property other than insurance policifls and certificates and insurance policy rights. the Co- Trustees may, in the discretion of the Co-Trustees, pay the premiums or other charges on any policies or certificates of insurance held hereunder, and the Co-Trustees may obtain the necessary funds therefore by applying Borne or all of the trust - 6 - . principal cash; by selling at public or private sale, without notice to the Settlor or the bene~iciaries of the trust or any other person, a sufficient portion of the principal of the trust; by borrowing on the security of the principal of the trust or any part thereof or on any of the insurance policies; by applying the dividends on any of the policies; or by surrendering any of the policies for their cash surrender values. (d) Insufficiency of Princioal to Maintain Policies. If, at any time, the trust principal is insufficient to pay the premiums or other charges on the Chubb Life America United Life and Accident Insurance Company Policy No. 000618531 in order to maintain a death benefit of $150,000, the Co-Trustees shall notify Settlor and Pamela Fleet Sanders in writing of such insufficiency. Notice to Pamela Fleet Sanders shall be sent to the address listed in Article 6(b) above. Notice to Settlor shall be sent to James Linden Sanders, Jr. and addressed as follows: James Linden Sanders, Jr. 133 West Locust Street Apartment 206 Mechanicsburg, PA 17055 In addition, the Co-Trustees may, but are not required to, notify the other beneficiaries of the trust in writing of such insufficiency, The Co-Trustees shall not be obligated to pay any premiums or other charges on any policies or certificates of insurance that are subject to this Agreement, and shall have no obligation as to such policies or certificates other than as herein expressly set for.th. The Co-Trustees may also, in the discretion of the Co-Trustees, convert any policy on which premiums have not been paid due to insufficient funds into a paid-up policy pursuant to the terms of such policy. (e) Beneficiary Desiqnations on DuPont Life Insurance, If, at any' time, the Co-Trustees receive notice from DuPont on the group plan policy referred to in the Background above that relates to or affects the continuation of the coverage under the said group plan, with respect to the status of Settlor as an insured under said plan, the amount of death benefit payable under said group plan, or as to options for conversion of the life insurance under such plan, the Co-Trustees shall notify Settlor and Pamela Fleet Sanders in writing of such communications at the addresses set forth in (b) and (d) above, Settlor shall not have any obligation with respect to any matters relating to such group plan other than as set forth above. - 7 - . Pamela Fleet Sanders or the other beneficiaries may, but are not obligated to, furnish to Co-Trustees the funds necessary for the payment of any premiums or other charges that may be required in order to take advantage of any options to convert or continue all or any portion of said group plan policy to some other form of insurance in the event of any change in the Group Plan. (fl After Death of Insured. As soon as practicable after receipt of notice of the death of Settlor, the Co-Trustees shall prepare, serve, and file notices and proofs of death and shall take any and all actions deemed necessary to collect the proceeds of any policies and certificates of insurance payable to the Co- Trustees which are then subject to this Agreement. The Co- Trustees may file suit to enforce the payment thereof, and may take such other actions as the Co-Trustees determine to be necessary or desirable for the purpose of collecting the proceeds of said policies and certificates. The Co-Trustees may compromise any claims arising out of any of the policies and certificates upon such terms and conditions as the Co-Trustees in the sole discretion of the Co-Trustees determine to be in the best interests of the trust. ARTICLE 7 - SPENDTHRIFT PROVISION No interest in income or principal shall be alienated, encumbered or otherwise disposed of by any beneficiary while in the possession and control of the Co-Trustees. If any beneficiary should attempt to alienate, encumber or dispose of all or part of the income or grants of principal before the same has been delivered by the Co-Trustees, or if by reason of bankruptcy or insolvency or any attempted execution, levy, attachment or seizure claims of creditors or otherwise, all or any part of such income of princlpal mlght fail to be enjoyed by sC:I.'ne other person, then such interest shall terminate. Thereafter, the Co-Trustees may pay to or for the benefit of such beneficiary and/or his or her descendants such income or principal comprising such interest as the Co-Trustees, in the Co- Trustees's discretion, shall deem proper until such beneficiary dies. - 8 - ARTICLI 8 - POWIRS or THI CO-TRUSTIIS In the administration of each trust created hereunder, the Co-Trustees or any successor Trustee shall have the following powers in addition to powers conferred upon the Co-Trustees by law or by this Agreement, such powers to be exercised from time to time in the Co-Trustees's sole discretion and without order of any court: (a) To hold, manage, sell, exchange, conveyor transfer the property comprising the trust principal, and to lease or make contracts respecting such property for any term irrespective of the duration of the trust, all at such prices and upon such terms and conditions, and in such manner as the Co-Trustees shall determine; (b) To retain without liability for depreciation or loss any investments originally received or purchased from the Settlor'S estate, including, without limitation, shares of stock of a corporate Trustee or any holding company which owns all or substantially all of the stock of a corporate Trustee, and to invest and reinvest all or any part of any property comprising the trust principal in stocks, (both preferred and common) , bonds, notes and other obligations of corporations, shares in real estate trusts, mutual funds, and in any other kind of property, including, without limitation, real estate and common fund operated by a corporate Trustee, regardless of the proportion which any investment or any class or type of investment of similar cha~acter may bear to the entire amount of the trust principal, and without being limited to the classes of investments which a Trustee is authorized by law or any rule of course to make; provided, however, that the Co-Trustees shall not invest in or retain any unproductive asset in the trust for an unreasonable period of time without written consent of the beneficiaries hereof; (c) To participate in reorganizations, recapitalizations, consolidations, mergers, exchanges, liquidations and creditors' and bondholders' agreements; (d) To register or hold share certificates, bonds or other property in the trust in the name of the Trustee nominee, provided that the Co-Trustees shall be responsible for the acts of their nominee; (e) To make advances and to borrow money upon such terms and conditions as the Co-Trustees shall determine, to issue a - 9 - . promissory note or notes, and to secure the payment thereof by mortgaging or pledging any part or all of the trust principal, including in the case of a corporate Trustee the power to do so from or to itself in its corporate capacity; (f) To exercise voting rights and issue proxies, which may be discretionary and with power of substitution, in connection with any stock or other securities in the trust; (g) To exercise rights and options to purchase shares of stock or other property, to borrow money for such purposes pursuant to the powers given above, and to sell or redeem fractional shares of stock or other property; (h) To compromise, compound, release and discharge debts and claims of every kind, nature or descrJ,ption owing to or by the trust, and to pay taxes, expenses, costs and charges incurred or arising in connection with the administration and management of the trust; (i) To make any dlvision or distribution hereunder in cash, kind or in both, and to make any allocation of assets between funds or shares established hereunder without regard to any requirement to effect a proportionate allocation of each asset and without the consent of any beneficiary, provided that any property divided or distributed in kind shall be valued at its fair market value at date of distribution; (j) To improve or develop real estate, to construct, alter or repair buildings or structures, to settle boundary lines, to grant easements and other rights, to partition and to join with co-owners and others in dealing with real estate; (k) To employ brokers, agents, attorneys and, in the case of an individual Trustee, investment counsel, accountants and custodians of the trust; (1) To receive additions to the trust or any trust fund and to hold and administer the same under the provisions hereunder; (m) To execute deeds, leases, transfers, assignments and any other instruments necessary to carry out their poweI'S hereunder; (n) To sell assets to (including stocks, bonds, securities or other property, real or personal), to exchange these ass~ts with or purchase these assets from, to make loans to on such terms and conditions as it may determine, or borrow from any - 10 - other estate or trust, including the estate ot the Settlor or trusts created by the Settlor, irrespective of whether or not such security or property is eligible for investment by fiduciaries under any statute or law, and even though the Co- Trustees hereunder may be acting as executor or administrator of any such estates or trustee of such trusts; (0) To exercise any insurance policy rights with respect to any insurance policr or certificate comprising part of the trust including, without imiting the generality of such authority, the right to convert any insurance rl<aintained for the Settlor to some other form of insurance in order to prevent the cancellation or lapse of the insurance coverage theretofore provided by such insurance, subject, however, to the provisions of Article 6 above. ARTICLE 9 - ADDITIONS TO THE TRUST The Settlor reserves the right, for himself and other persons, to ~dd insurance policies on his life and/or other property to this trust by making lifetime, testamentary or other transfer. of property to the Co-Trustees. All such additions shall be subject to all of the terms and conditions of this Agreement. ARTICLE 10 - IRREVOCABILITY The trust created by this instrument shall be irrevocable, The Settlor hereby expressly waives all rights and powers, whether alone or in conjunction with others, and regardless of when and from what source the Settlor may heretofore or hereafter have acquired such rights or powers, to alter, amend, revoke or terminate this trust, or any of the terms of this trust agreement, in whole or in part. No part of the corpus or income of the trust created hereunder shall ever revert to or be used for the benefit of Settlor or be used to satisfy any of the Settlor's legal obligations. The Settlor hereby renounces for himself and his estate any interest, either vested or contingent, including any reversionary right or possibility of reverter, in the corpus and income of the trust, and any power to determine or control, by alteration, amendment, revocation or termination, or otherwise, the beneficial enjoyment of the corpus or income of the trust except as pr0vided in Article 17 hereof. - 11 - ARTICLE 11 - ACCOUNTING The Co-Trustees shall render statements of the receipts and disbursements from the trust to such person or persons who are not subject to any legal disability and who are entitled to receive income from this trust, or if none, would be entitled to the principal if the same were then distributable at least annual:y. Each statement shall be deemed an account st~ted and considered as having been approved and accepted by such person or persons, unless they give written notice to the Co-Trustees of their objection thereto within sixty (60) days of the mailing of each such statement by the Co-Trustees. Failure of such person or persons to object as herein provided, shall release, acquit, and discharge the Co-Trustees from all claims and demands, causes of action, in law or in equity, which such person or persons and each and every person who then or thereafter may be or become interested in the trust, their heirs, successors or assigns, shall then or thereafter have against the Co-Trustees for Q1" on account of any matter pertaining to the administration of the trust estate for the period covered by such statement, which shall have like force and effect as a judicially settled accounting of its activities for said period. ARTICLE 12 - SUCCESSOR TRUSTEES Any Trustee hereunder may resign. If the Trustee should desire to resign, then such Trustee shall appoint a successor Trustee, provided, however, that the Settlor may not serve as Trustee. Upon execution by a successor Trustee of a written acceptance of successor trusteeship, the successor Trustee, without further act, shall be vested with all the estate, title, powers, duties, discretion and immunities granted to the Trustee hereunder. The previous Trustee shall, however, execute and deliver to the successor Trustee such assignments or other instruments as may be necessary or advisable. No successor Trustee shall be charged with any default occurring prior to becoming a Trustee hereunder. ARTICLE 13 - COMPENSATION OF THE CO-TRUSTEES At any time during the continuation of the trust, whether before or after the death of the Settlor, a corporate Trustee shall be entitled to compensation for its ordinary services hereunder in accordance with its published schedule of com- pensation for trustees in effect at the time the services are - 12 - . ARTICLE 18 - MISCELLANEOUS (a) Investment Obliqations of Co-Trustees, During the Settlor's lifetime and so long as the trust principal comprises only assets having nominal value, or. while the life insurance policies constitute the principal assets of the trust, the Co- Trustees shall have no responsibility to make any investment or recommendation with respect thereto, or any responsibility to invest assets having a nominal value in income-producing property, (b) Solit-Dollar Aqreements, Notwithstanding anything herein to the contrary, the Co-Trustees shall have the authority to enter into split-dollar agreements provided, however, that neither the Settlor nor any corporate collateral assignee of which the Settlor is a shareholder shall be assigned any insurance policy rights e)tcept the right to receive the amount indicated in the split-dollar agreement. (c) Conforming Amendments. In accordance with the Trust purpose, the Co-Trustees are authorized, with or without Court approval, to make administrative and ministerial modifications to the provisions of this Agreement for the purpose of conforming to changes in law or factual and economic circumstances. Any such modification shall be in all events consistent with Settlor's intent upon creation of the Trust, and shall be in writing, signed by the Co-Trustees, with copies delivered to the Settlor and the Trust beneficiaries. (d) Merqer of Trusts. If the Co-Trustees are acting as Trustees of another trust with terms and provisions substantially similar to this Trust, the Co-Trustees are empowered. in its sole discretion reasonably exercised, to consolidate the trusts herein created with such other trust, insofar as it is practicable, not in substantial conflict with the terms of this Trust or of such other trust, and not in derogation of any tax-saving provision of any applicable state or federal law. Provisions of this Trust and such other trust shall be considered substantially similar even if there are minor variations as to the management and distribution of the trusts, The determination by the Co-Trustees as to any consolidations hereunder shall be final and conclusive upon all parties. (d) R1n9jnq on E~ecutors and Successo~~, This Agreement shall be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns. - 14 - " " '- C'J '- r:.. l:'c, "'~4 ";.~ ." ;,.'; I::~' C:' UJ~.. " , (,'J', e J.....l ,.... ':J';' 9; \.0 'Iil 0' " " LJ,\1. ~ :;! \::~L: : , i. 'J ... ',I'.l- i'" :~) "" t,.,. s: ,~5 Cl 0 , . .~ . . . , " .- Melllllll.. WALLACI . HUIlICIIl 'OG _)... .,..n , . . . . . ... It". M...."...u.... .. "t-M '~ . .. . JAMBS LINDEN SANDERS, JR., ) IN THE COURT OF COMMON Plaintiff ) PLEAS OF CUMBERLAND COUNTY, ) PENNSYLVANIA VEl. ) ) CIVIL ACTION - LAW ) PAMELA FLEET SANDERS, ) NO. 94-6022 CIVIL TERM Defendant ) ) IN DIVORCE STIPULATION rOR 8NTRY OP OUALIrIID DO~STIC R_LATIONS ORDIR The parties and their counsel hereby stipulate to the entry of a Qualified Domestic Relations Order in the form attached hereto has Exhibit A. D ano M. Lantz Counsel Qr Plaintiff ~~t~ei~~' , JAMES LINDEN SANDERS, JR., Plaintiff IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA vs. CIVIL ACTION - IAW NO. 94-6022 CIVIL TERM PAMELA FLEET SANDERS, Defendant IN DIVORCE AND NOW gUALIWIID DOHl8TIC ..LATIONS 01tD1. .. DUPONT PIN8IQN PLAN AND SIP tl i~!J this ~~ day of , 1997, pursuant to the stipulation and agreement of the parties, the following order is entered in this matter, and it is ordered as follows: 1. This order is intended to be a "Qualified Domestic Relations Order" within the meaning of Section 414(p) of the Internal Revenue Service Code of 1986, as amended, This order is also entered pursuant to the provisions of the Divorce Code of Pennsylvania, 23 Pa. C.S.A. 53101 et. seq, 2. The participant is the Defendant, James Linden Sanders, Jr. whose Social Security number is 159"34-9955. whose date of birth is January 6, 1943 and whose mailing address is 133 West Locust Street, Apartment 206, Mechanicsburg, Pennsylvania 17055, 3. The alternate payee is the plaintiff, Pamela Fleet Sanders, whose Social Security number is 047-34-3637, whose date of birth is December 13, 1943 and whose mailing address is 15 Farmhouse Lane, Camp Hill, Pennsylvania 17011. URI8J., ",." 4. The participant, James Linden Sanders, and alternate payee, Pamela Fleet Sanders, were married on August 7, 1965, The Court on this date has entered a divorce decree in this matter divorcing the parties from the bonds of matrimony. 5. The plans to which this order applies are the DuPont Pension and Retirement Plan (herein after referred to as the .Plan") and the DuPont Savings and Investment Plan (herein after referred to as the "SIP"). DuPont Pension and Retirement Plan 6. This section of the order applies to the Dupont Pension and Retirement Plan (the Plan) and any successor plans, 7. The alternate payee is hereby awarded fifty percent (50\) of the participant's monthly benefit from the plan for participant's lifetime, The Plan shall begin distributing benefits to the alternate payee as soon as administratively practicable. 8. In the event the alternate payee pre-deceases the participant. the alternate payee's remaining monthly benefit shall revert to the participant. 9. The alternate payee shall receive an equal percentage (fifty percent) of any cost-of-living or any other ad hoc increase that may be awarded to the participant, - 2 - . ., DuPont Savin98 and Investment Plan 9. This section of the order applies to the Dupont Savings and Investment Plan (SIP), 10. The alternate payee is hereby further awarded the amount set forth in this paragraph from the SIP account of the participant. The alternate payee is awarded the sum of $208,843 from the participant's account in the SIP to be pro-rated between the before-tax and regular assets. 11. The SIP shall set up the separate account for alternate payee and transfer alternate payee's portion of the SIP benefit to her account in accordance with this paragraph as soon as administratively practicable. 12, Within a reasonable period after receipt of this order, the plan administrator shall determine whether this order is a qualified domestic relations order and shall notify the participant and the alternate payee of such determination, Within a reasonable time after the plan administrator has determined that this order is a qualified domestic relations order, the plan administrator shall take all such actions as are required to begin distributing the benefits to the alternate payee, 13. The alternate payee shall be responsible for all taxes on the pension plan and SIP benefits paid to her, and alternate - 3 - . ' ~" .. payee shall include all of the taxable portion of payments made to her pursuant to this order if, as and when received in her gross taxable income, For purposes of Section 72 and 402(a) (9) of the code, the alternate payee shall be treated as a distributee of any distribution or payments made to such altern~~e payee under this order, 14, The pension plan and the SIP shall hold and administer the alternate payee's accounts pursuant to their terms and the provisions of the Code and ERISA, 15. The alternate payee shall keep the plan administrator informed of her current mailing address and shall provide proof of age and other inf04mation and forms as the pension plan or the SIP plan may reasonably require. 16. The provisions of this order shall not be construed and are not intended to: (a) Require the plan to provide any type or form of benefit or any option not otherwise provided for under the plans; or (b) Require the plan to provide increased benefits. (c) Require the payment of benefits to the alternate payee which are required to be paid to another alternate payee under another order previou91y determined to be a Qualified Domestic Relations Order. ~ 4 - . . , . . 17. Tbj. court retajn. jurj.dictjon to amend thj. order, but only tor the purpo.e of e8tabli8hing or maintaining ite quAliticAtjon A. a Qualjfied Dome.tic Relation. Order. J. I .5- . . ... , , . . v, IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA NO. 94- (,()).J.-U~1994 JAMBS LINDEN SANDERS, JR" Plaintiff PAMELA FLEET SANDERS, Defendant IN DIVORCE NOTIC. TO D.PIND AND CLAIM RIGHTS YOU HAVE BEEN SUED IN COURT, If you wish to defend against the claims set forth in the following pages, you must take prompt action, You are warned that if you fail to do so, the case may proceed without you and a decree of divorce or annulment may be entered against you for any other claim or relief requested in these papers by the Plaintiff, You may lose money or property or other rights important to you, including custody or visitation of your children. When the ground for divorce is indignities or irretrievable breakdown of the marriage, you may request marriage counseling. A list of marriage counselors is available in the Office of the Prothonotary at the Dauphin County Courthouse, Harrisburg, PA 17101. IF YOU DO NOT FILE A CLAIM FOR ALIMONY, DIVISION OF PROPERTY, LAWYER'S FEES OR EXPENSES BEFORE A DIVORCE OR ANNULMENT IS GRANTED, YOU MAY LOSE THE RIGHT TO CLAIM ANY OF THEM, YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE, IF YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP, COURT ADMINISTRATOR 4th Floor, Cumberland County Courthouse Carlise, PA 17013 (717) 240-6200 AVISO PARA DEFENDER Y RECLAMAR DERECHOS USTED HA SIDO DEMANDADO EN LA CORTE. Si desea defenderse de las quejas expuestas en las paginas siguientes, debe tomar accion con prontitud. Se le avisa que si no se defiende, el caso puede proceder sin usted y decreto de divorcio 0 anulamiento puede ser emitido en 9U cont ra por la Cone, Una decision puede tambien ser emitida en su contra por cualquier otra queja 0 compensacion >- ~, <r.; C (.. ~l! - <", "',' , hl,I,' -. (h " ., . ~ : ft, (\. ;',,~ 9' ~i ',f.) , , - - .:~ !.,.! II;. !f "". I !i'j'!J :;:',1 , j t:J_ . J j " ,... 0 0' r.,) !I "Y1. , , .... <,I (,:: \..,~ ,t.j " .I ;:'. ., ~ :1 . -, (~ , " lll':;..' -- I ll."''' C" ,'.1 1-0.... ~t';. ,-..:.) c',1 ~; C.,' - ~\ : . V..... \.',) -!L" r. I. !J.. ~, '" I :~j " r- \J (..; rJ' . . . . . . . " MeNtI.. WALLACI . NUlt'CII . . . - ,.. "... ill.., " . ." .'" II.. 1If...IlI.,.W.. ..'" 1110. '" -~ "I )", ,.... ".... ',- . ," . ,:' c \1.1- ., ()'" ,.'~ "I" ,~~.. '. -' ('.. " i\ ,- ',l. \,~) ,.~ '.lol" - I . :: :;:_~. (,L" ..... '\IJ.J ::J ,IJ.,. " -, oj, ; U IQ; :.~ 6 u . I I' " ", .",. 0" ;.. .. .... ~. 0 .:t- ri-; ~.. '0 C> n:::: Ilf:L"'": '(<) ~ ... . -- "'i'J -'J' " " r\ , ~ ., ....,. (..r:J B ~ :=t ~ -.d r{ ~ '- ~ .... " .~ 'i ".~ .. ")2. ..,';.'. W . -- ,,,,,",0-0 ~.J ~--.J: lx-.l"\) -- . . . . . .. ... . . ...1\1..., WAL~"'<<:IE . ~URICIC ...."~ .....trl-' ... It, IIll" 11'1'1 <i . HA"IlIII'.Vt41., ~4 1"J~ , , "I disputes Defendant's claim. However, in the event Defendant is found entitled to a substantial portion of Plaintiff's income from his pension, then Plaintiff lacks sufficient funds to support himself and is unable to appropriately maintain himself during this action. 4, Further, in such even~, then, Defendant has adequate earnings to provide alimony pendente lite for Plaintiff, WHEREFORE, Plaintiff James Linden Sanders, Jr., respect- fully requests that This Honorable Court award him Alimony Pendente Lite in the event Defendant is entitled to a substantial portion of the income Plaintiff has received, and/or will receive, from his pension, or in the event Defendant is found entitled to a subst~ntial portion of the pension, COUNT II ALIMONY 5. Paragraphs 1 and 2 are incorporated by reference herein, 6. Defendant has claimed a right to fifty percent (Sot) of the income Plaintiff is receiving from his pension, Plaintiff disputes Defendant's claim. However, in the event Defendant is found entitled to a substantial portion of Plaintiff's income from his pension, then Plaintiff lacks sufficient assets or funds to provide for his reasonable needs and is unable to appropriately maintain or fully support himself. 7, Further, in such event, then, Defendant has adequate earnings to provide alimony for Plaintiff. - 2 - ", ~ a>> ~ c: z t .. :~)~. r~ ("')~) ., :c r .". .......'- ~, .... (-l~ :",..- Q:) . ",'l "1- ,-,.. 0 (.l;~; ~ ~ ,~'IW 'cWo "; ~ r- ::; 0" U ,. .... . M<.:~.I:!ll. WAi.L.ACI: at NUllflCK 100 ""Nil .r".lr .. ,,- .'u 1144 .~ . HA.UU..UIllIiJ: "''' 1."0. ..... .,.. ?= . l~ (':' ., ~t~ ~;.,) ~n (....J , ,: )('" I . " f ~ i' Git' 1"'4 :..1 \..0 ;" ~ g' " : -, ~"I' I r~'J u., ::..1 , ! '..l._ ,." " -., ,. r" j u 0' u 'I".',,"'J'!.', ,