The following is an abridged version of the Will of Shoul Eisenberg dated 1982. The Will consists of 22 typed pages, not a few of which (such as those detailing the joint trust fund created for the Deceased’s children), the payments to the Trustees charged with executing the Will etc.), are of scant public interest.
In view of the length of the Will, those particular sections have been omitted from the document you are about to read. Every such omission is preceded by a ". . ." mark.
I, Shoul N. Eisenberg, a resident of Israel, being desirous of making proper disposition of my property in the event of my death, and being of sound mind and body and in full possession of my faculties, do hereby make and declare this to be my Last Will and Testament and hereby revoke all former wills, codicils or other testamentary disposition made by me at any time, including without limitation a last Will and Testament dated December 17, 1980.
1. It is my wish that my son Erwin D. Eisenberg assume my position as head of the family and carry on the businesses which I have founded and that such businesses continue to be managed as one unit belonging to the family. For that reason I am devising to him control over the properties and companies comprising the family businesses. It is my further wish that all my children and their spouses co-operate fully in connection with the family businesses and their disposition in accordance with this last will and testament and maintain a good family spirit. If all of them continue after my death to work and co-operate together in true friendship they will succeed and no rivalry will come between them.
2. (A) To carry out my expressed wishes, I hereby give, devise and bequeth (sic) to my children and their respective spouses set forth below, in the percentages set forth opposite their respective names, and subject to such conditions or restrictions as may be set forth in this Last Will and Testament, my entire interest, direct or indirect, in companies or other legal entities, (I) whether considered to be included in the "Eisenberg Group of Companies" or not, (II) whether such interest is in the form of bearer or nominal shares or in trust, (III) whether in my name, the name of another for my benefit or otherwise, (IV) wherever such interest may be located, (V) whatever the scope of my ownership, (VI) whatever the nature of the business or assets of such companies or other entities and (VII) whether specifically listed below or not (except that S.N.E Trust Inc., S.N.E Finance Inc., Asia House Ltd., and S.N.L.E. Realty Corporation are hereby specifically excluded from this Paragraph 2(A):
| Erwin D. Eisenberg | 51% |
| Elfrida and Igal Dimant, jointly | 9.8% |
| Edith and Meir Rosenfeld, jointly | 9.8% |
| Esther and Jonathan Zuchovitzky, jointly | 9.8% |
| Elise Hardy | 9.8% |
| Emily Furman | 9.8% |
(B) It is my wish that Erwin D. Eisenberg shall have the title of President of the "Eisenberg Group of Companies". . ..
(E) My bequests under Paragraph 2(A) above (other than the bequest to my son Erwin D. Eisenberg) are subject to the condition that at the time of my death and for at least fifteen full calendar years thereafter each of my five sons-in-law will be working actively as an executive of, and properly exercising responsibility for the success of, the Eisenberg Group of Companies. If at the time of my death or at any time during such period any of my sons-in-law is not so working actively (except because of natural death or severe illness) or has become a liability to the Group rather than an asset, as determined by my son Erwin D. Eisenberg, then in sole discretion of my son Erwin D. Eisenberg such son-in-law’s association with the Eisenberg Group of Companies will be terminated and his and his wife’s joint shares, or his wife’s share only (if pursuant to Paragraph 2(A) above and Subparagraph 10(I) below such son-in-law does not inherit together with his wife), set forth as 9.8% in Paragraph 2(A) above, will be reduced to a 4.9% beneficial interest only. Similarly, if any such son-in-law, but not his wife, inherits under Paragraph 2(A) above and Sub-Paragraph 10(II) below, his share will be reduced by one-half and become a beneficial interest only. Such beneficial interests will have no voting rights, cannot be pledged as security, will not include any ownership interests in specific assets and will entitle the holder only to the receipt of dividends or other similar distributions. The entire balance of any such share will be distributed in equal parts among my son and my other children (and their respective spouses named in Paragraph 2(A) above), except that in the case of a son-in-law inheriting under Sub-Paragraph 10(II) below, the entire balance will be distributed in accordance with Sub-Paragraph 10 (II). . ..
( C) If my wife Leah Eisenberg shall decide after my death to make Tokyo her residence, she will be entitled for the duration of her life to live in the house at 12 Nibancho, Tokyo, rent free. However, if 90% in interest of my heirs under this Article 4 decide after my death to sell 12 Nibancho or the shares of S.N.L.E. Realty Corporation, they must concurrently purchase for my wife a first-class apartment in Tokyo to be registered in her name only, the purchase price of which shall be equal to at least 10% of the net profit from the sale of 12 Nibancho or the S.N.L.E. Realty Corporation shares. Notwithstanding such purchase, my wife shall continue to be entitled to receive 10% of the net proceeds of the sale of 12 Nibancho or the S.N.L.E. Realty Corporation shares, as well as of any other property referred to in Paragraph 4 (B) above.
My wife’s rights under the Paragraph 4 ( C) are personal to her and cannot be transferred by her.
(D) Following my wife’s death, her interest in the real estate referred to in Paragraph 4(B) above will be divided in five equal portions among my five daughters (and their respective husbands named in Paragraph 4(A) above).
5. I hereby give, devise and bequeth (sic) to my wife and my children the following interests in my jade collection and in other objects or works of art and antiques which I may own at my death:
| Leah Eisenberg | 1/8th |
| Erwin D. Eisenberg | 2/8ths |
| Elfrida Dimant | 1/8th |
| Edith Rosenfeld | 1/8th |
| Esther Zuchovitzky | 1/8th |
| Elise Hardy | 1/8th |
| Emily Furman | 1/8th |
6. (A) I hereby make the following specific bequests:
(I) All monies (sic) payable under life insurance policies numbered 1532053 and 1535630 taken out with the Phoenix Mutual Life Insurance Company in the total amount of U.S. $1,000,000 (one million U.S. dollars) I give, devise and bequeth (sic) to my life Leah Eisenberg.
(II) I give, devise and bequeth (sic) to my daughter Emily Furman any land registered in my name in Seattle, Washington, U.S.A.
(III) I give, devise and bequeth (sic) to my son Erwin D. Eisenberg the house at Lauterbach/Bregenz, Austria, registered in my name.
(B) It is my wish that after my death my wife Leah Eisenberg be entitled to reside in the house at 12 Hagderot in Savyon, which for reasons of convenience was registered in her name, for the duration of her life but that promptly upon by death she transfer at the Israeli Land Registry ownership of the house and the surrounding
land into the sole name of our son Erwin D. Eisenberg.
( C) All of the bequests made to my wife in this Last Will and Testament are conditioned upon her first making the transfer of the house at 12 Hagderot, Savyon and the surrounding land into the sole name of our son Erwin D. Eisenberg as provided in Paragraph 6(B) above.
7. I hereby give, devise and bequeth to my wife and my children the following percentage interests, subject to such conditions or restrictions as may be set forth in this Last Will and Testament, in all the rest, residue and remainder of my property and estate at the time of my death, real and personal, of whatever nature, wherever located and whether registered in my name or in trust for my benefit or otherwise, including without limitation cash, precious metals, shares, bonds and life insurance proceeds not otherwise disposed of in this Last Will and Testament, after first deducting the U.S. $5,000,000 referred to in Article 8 below:
| Leah Eisenberg | 10% |
| Erwin D. Eisenberg | 40% |
| Elfrida and Igal Dimant, jointly | 10% |
| Edith and Meir Rosenfeld, jointly | 10% |
| Esther and Jonathan Zuchovitzky, jointly | 10% |
| Elise Hardy | 10% |
| Emily Furman | 10% |
12. I hereby appoint as the executors of this Last Will and Testament Dr. Veit Wyler of Zurich, Switzerland, Mr. William G. Pullen of London, England, and Mr. Albert Lisbona of London, England.
Should any of my said executors for any reason fail to qualify or cease to act, I hereby appoint the following persons, in the order in which their names appear, to serve as successor executors:
And If at any time after my death less than three of the persons named in this Article 12 as executors (or successor executors) be serving in such capacity, then the remaining executor or executors shall appoint after my death a successor executor or executors. In carrying out their duties my executors:
Shall be mindiful (sic) of my wish, expressed in Article 1 above, that my son Erwin D. Eisenberg carry on the businesses which I have founded and that such businesses continue to be managed as one unit belonging to the family. . .
I have read the contents of this Last Will and Testament and declare that it properly reflects my wishes and that it does so in a manner and in language which I have entirely required. On my behalf and on behalf of my executors and of anyone who may claim any interest in the property disposed of by this Last Will and Testament, I hereby take full responsibility for the manner in which such disposition is made and for its effect and consequences and exempt any other person from responsibility with respect thereto.
IN WITNESS WHEREOF I have signed this Last Will and Testament this 15th day of October, in the year one thousand nine hundred and eight-two (sic).
(Signed) __(-)____
Shoul N. Eisenberg