THE MARISOL CRUZ IRREVOCABLE TRUST FOR THE BENEFIT OF EZRA RAFAEL CRUZ¶

Trust Agreement¶

Date of Execution: September 14, 2012

State of Governing Law: Florida

Prepared by: Law Offices of Adriana M. Vega, Esq., 1425 Brickell Avenue, Suite 310, Miami, FL 33131

RECITALS¶

WHEREAS, Marisol Cruz ("Grantor" or "Trustee"), residing at [REDACTED], Miami-Dade County, Florida, is the mother and natural guardian of the minor child Ezra Rafael Cruz ("Beneficiary"), born July 29, 2006; and

WHEREAS, the Beneficiary is currently employed as a child model and performer through regional and local commercial engagements in the State of Florida and has earned, and is expected to continue to earn, compensation from said employment; and

WHEREAS, the Grantor desires to establish an irrevocable trust for the protection, preservation, and eventual distribution of the Beneficiary's entertainment earnings, ensuring that said earnings remain the sole property of the Beneficiary and are not used for ordinary household expenses of the Grantor or any other party; and

WHEREAS, the State of Florida does not currently mandate the establishment of a blocked trust account for minor performers, as required in the States of California and New York pursuant to California Family Code Section 6750 et seq. (the "Coogan Law") and New York Arts and Cultural Affairs Law Article 35-C; and

WHEREAS, the Grantor voluntarily elects to establish this trust in the interest of the Beneficiary's financial protection, acting upon the principle that a child's earnings belong to the child;

NOW, THEREFORE, the Grantor hereby establishes the following irrevocable trust, to be known as the Marisol Cruz Irrevocable Trust for the Benefit of Ezra Rafael Cruz (hereinafter "the Trust"), and declares the terms and conditions thereof as follows:

ARTICLE I — ESTABLISHMENT AND PURPOSE¶

Section 1.01 — Trust Name. This trust shall be known as the Marisol Cruz Irrevocable Trust for the Benefit of Ezra Rafael Cruz.

Section 1.02 — Purpose. The purpose of this Trust is to hold, manage, invest, and distribute the entertainment earnings of the Beneficiary in a manner that preserves the corpus of said earnings for the Beneficiary's benefit upon reaching the ages specified herein, while permitting limited distributions during the Beneficiary's minority for purposes directly related to the Beneficiary's health, education, and professional development as outlined in Article V.

Section 1.03 — Irrevocability. This Trust is irrevocable. Upon execution, the Grantor relinquishes all right, title, and interest in the Trust property and shall have no power to alter, amend, revoke, or terminate this Trust or any provision hereof, except as expressly provided in Article IX.

Section 1.04 — Guiding Principle. The Grantor establishes this Trust upon the foundational principle that the earnings of a child belong to that child, and that the role of the parent is to protect and preserve those earnings—not to benefit from them. This principle shall guide the Trustee and any Successor Trustee in the administration of this Trust and the exercise of any discretionary powers granted herein.

ARTICLE II — TRUST PROPERTY¶

Section 2.01 — Initial Deposit. The Grantor hereby transfers to the Trustee the sum of Twelve Thousand Four Hundred Dollars ($12,400.00), representing the Beneficiary's accumulated net entertainment earnings from commercial modeling engagements between March 2012 and September 2012, after deduction of applicable agency commissions and taxes.

Section 2.02 — Additional Contributions. The Trustee shall deposit into the Trust all future net entertainment earnings of the Beneficiary, including but not limited to:

(a) Compensation from modeling engagements, including but not limited to print campaigns, commercial advertisements, catalog work, product packaging, and editorial features;

(b) Compensation from any performance or entertainment work, including but not limited to musical performances, television appearances, film appearances, voice work, and commercial endorsements;

(c) Revenue generated from digital content creation, including but not limited to advertising revenue from video-sharing platforms, streaming royalties, sponsorship fees, and brand partnership compensation;

(d) Royalties, residuals, or recurring payments of any kind arising from the Beneficiary's professional work;

(e) Any gifts or contributions made by third parties expressly designated for inclusion in the Trust.

Section 2.03 — Deposit Schedule. The Trustee shall deposit the Beneficiary's net earnings into the Trust within thirty (30) days of receipt. The Trustee shall maintain documentation of all deposits, including copies of contracts, pay stubs, invoices, and agency statements from which the deposit amounts are derived.

Section 2.04 — Exclusion of Household Use. Under no circumstances shall Trust assets be used for ordinary household expenses of the Grantor, the Grantor's spouse, or any other member of the Beneficiary's household. This prohibition is absolute and shall not be waived by the Trustee, any Successor Trustee, or any court of competent jurisdiction. Ordinary household expenses include, without limitation: rent or mortgage payments, utility bills, grocery costs, vehicle payments, insurance premiums, and any other recurring expense associated with the maintenance of the family household.

ARTICLE III — TRUSTEE DESIGNATION¶

Section 3.01 — Initial Trustee. Marisol Cruz shall serve as the initial Trustee of this Trust.

Section 3.02 — Co-Trustee. Rafael Antonio Cruz, father of the Beneficiary, shall serve as Co-Trustee with full authority to participate in investment decisions and to review all Trust records, statements, and documentation. The Co-Trustee shall not have the authority to make unilateral withdrawals or distributions from the Trust without the written consent of the Trustee.

Section 3.03 — Successor Trustee. In the event the Trustee is unable or unwilling to serve, the following individuals shall serve as Successor Trustee, in the order listed:

(a) Teresa Dominguez ("Abuela Teresa"), maternal grandmother of the Beneficiary, residing in Miami-Dade County, Florida;

(b) Adriana M. Vega, Esq., attorney for the Trust, or her designated successor at the Law Offices of Adriana M. Vega;

(c) A corporate trustee selected by the Successor Trustee designated in subsection (b), subject to approval by the Beneficiary if the Beneficiary has attained the age of sixteen (16) years.

Section 3.04 — Trustee Compensation. The Trustee and Co-Trustee shall serve without compensation. Professional Successor Trustees appointed under Section 3.03(b) or (c) shall be entitled to reasonable compensation consistent with prevailing rates for fiduciary services in Miami-Dade County, Florida, payable from Trust income (not principal).

Section 3.05 — Trustee Standard of Care. The Trustee shall administer the Trust with the care, skill, and caution of a prudent person acting in a like capacity and familiar with such matters, considering the purposes, terms, and conditions of the Trust and the interests of the Beneficiary. The Trustee shall act solely in the interest of the Beneficiary and shall not engage in any transaction that constitutes self-dealing or that creates a conflict of interest between the Trustee and the Beneficiary.

ARTICLE IV — INVESTMENT AND MANAGEMENT¶

Section 4.01 — Investment Authority. The Trustee shall have the authority to invest and reinvest Trust assets in a diversified portfolio of investments, including but not limited to:

(a) Certificates of deposit and money market accounts at FDIC-insured financial institutions;

(b) United States Treasury securities and government agency bonds;

(c) Investment-grade corporate bonds and bond funds;

(d) Diversified mutual funds and index funds, including equity, fixed-income, and balanced funds;

(e) Dividend-paying equities of established companies listed on major United States exchanges;

(f) Education savings accounts (529 Plans) for the Beneficiary, subject to applicable contribution limits.

Section 4.02 — Investment Standard. The Trustee shall invest Trust assets with the objective of preserving principal while achieving reasonable growth over the term of the Trust. The Trustee shall prioritize capital preservation over aggressive growth, particularly during the Beneficiary's minority, and shall maintain sufficient liquidity to meet anticipated distribution obligations.

Section 4.03 — Prohibited Investments. The Trustee shall not invest Trust assets in speculative or high-risk instruments, including but not limited to: options, futures, commodities, cryptocurrency, leveraged investments, or any investment in which the Trustee or Co-Trustee has a personal financial interest.

Section 4.04 — Professional Advisors. The Trustee is authorized to retain, at the expense of the Trust, qualified financial advisors, accountants, and tax professionals to assist in the management and administration of Trust assets. The selection of such advisors shall be made with the same standard of care required of the Trustee under Section 3.05.

Section 4.05 — Annual Accounting. The Trustee shall prepare or cause to be prepared an annual accounting of all Trust activity, including deposits, withdrawals, investment gains and losses, fees, and distributions. Said accounting shall be provided to the Co-Trustee and to the Trust's attorney. Upon the Beneficiary's sixteenth (16th) birthday, the annual accounting shall also be provided to the Beneficiary.

ARTICLE V — DISTRIBUTIONS DURING MINORITY¶

Section 5.01 — Permitted Distributions. During the Beneficiary's minority, the Trustee may, in her sole discretion, authorize distributions from Trust income (and, if income is insufficient, from Trust principal) for the following purposes only:

(a) Professional Development Expenses: Costs directly related to the Beneficiary's entertainment career, including but not limited to: professional headshots, portfolio development, travel to and from professional engagements, professional wardrobe required for engagements, acting or vocal coaching related to professional work, and agency registration or membership fees;

(b) Educational Expenses: Tuition, fees, books, supplies, and related costs for the Beneficiary's primary, secondary, or post-secondary education, including music lessons, instrument purchases, and educational enrichment programs directly related to the Beneficiary's professional development;

(c) Medical Expenses: Medical, dental, vision, and mental health expenses for the Beneficiary not covered by insurance, including but not limited to: ADHD-related treatment, therapy, medication, and any accommodations required for the Beneficiary's health and wellbeing;

(d) Emergency Expenses: Unforeseen expenses of an emergency nature directly affecting the Beneficiary's health or safety, as determined by the Trustee in her sole discretion.

Section 5.02 — Prohibited Distributions During Minority. Distributions shall not be made for any purpose that constitutes an ordinary household expense as defined in Section 2.04, nor for the personal benefit of the Trustee, Co-Trustee, or any member of the Beneficiary's household other than the Beneficiary.

Section 5.03 — Documentation of Distributions. The Trustee shall maintain receipts, invoices, or other documentation for all distributions made under this Article and shall include an itemized summary of all distributions in the annual accounting required by Section 4.05.

ARTICLE VI — DISTRIBUTIONS UPON MAJORITY¶

Section 6.01 — Staggered Distribution Schedule. Upon the Beneficiary's attainment of the ages specified below, the Trustee shall distribute to the Beneficiary the following portions of the remaining Trust corpus (principal and accumulated income):

(a) Age Eighteen (18): Twenty percent (20%) of the total Trust value as of the Beneficiary's eighteenth birthday. This distribution is intended to provide the Beneficiary with funds for post-secondary education, housing, and the transition to independent living;

(b) Age Twenty-One (21): Thirty percent (30%) of the total Trust value as of the Beneficiary's twenty-first birthday. This distribution is intended to support the Beneficiary's continued professional development and early-career financial stability;

(c) Age Twenty-Five (25): The remaining balance of the Trust, representing all remaining principal, accumulated income, and investment gains. Upon this final distribution, the Trust shall terminate.

Section 6.02 — Calculation of Distribution Amounts. Each distribution shall be calculated based on the total Trust value as of the applicable distribution date, including all principal, accumulated income, and unrealized investment gains, less any outstanding fees, taxes, or obligations of the Trust.

Section 6.03 — Form of Distribution. Distributions may be made in cash, by transfer of investment assets, or by a combination thereof, at the discretion of the Trustee in consultation with the Beneficiary.

Section 6.04 — Delay of Distribution. The Trustee may, in her sole discretion and upon consultation with the Trust's attorney, delay a scheduled distribution for a period not to exceed six (6) months if the Trustee reasonably believes that the Beneficiary is, at the time of the scheduled distribution:

(a) Subject to undue influence by a third party seeking to access Trust funds;

(b) Experiencing a substance abuse crisis or other condition that materially impairs the Beneficiary's capacity to manage financial assets;

(c) Subject to legal proceedings that could result in the attachment or garnishment of distributed funds.

Any delay under this Section shall be documented in writing, with the reasons for the delay stated, and a copy provided to the Beneficiary and to the Trust's attorney. The Trustee shall not delay a distribution more than once for the same scheduled distribution date without court approval.

ARTICLE VII — TAX PROVISIONS¶

Section 7.01 — Tax Identification. The Trust shall obtain its own federal Employer Identification Number (EIN) and shall file all required federal and state tax returns.

Section 7.02 — Tax Liability. All taxes attributable to Trust income shall be paid from Trust assets. The Grantor shall not be personally liable for taxes on Trust income.

Section 7.03 — Kiddie Tax. The Trustee acknowledges that unearned income of the Beneficiary in excess of the applicable threshold may be subject to taxation at the Grantor's marginal tax rate pursuant to Internal Revenue Code Section 1(g) (the "Kiddie Tax"). The Trustee shall consult with a qualified tax professional to minimize the Trust's tax burden consistent with the investment objectives set forth in Article IV.

ARTICLE VIII — PROTECTION OF TRUST ASSETS¶

Section 8.01 — Spendthrift Provision. No interest in the Trust estate, whether income or principal, shall be subject to the claims of any creditor of the Beneficiary, nor shall any interest be subject to attachment, garnishment, execution, or other legal process. The Beneficiary shall not have the power to sell, assign, transfer, pledge, or encumber any interest in the Trust prior to actual distribution.

Section 8.02 — Protection from the Grantor's Creditors. The Trust estate shall not be subject to the claims of any creditor of the Grantor or Co-Trustee. The irrevocable nature of this Trust, as established in Section 1.03, shall serve as an absolute bar to any claim by the Grantor's creditors against Trust assets.

Section 8.03 — Divorce or Dissolution. In the event of divorce or dissolution of the marriage between the Grantor and the Co-Trustee, the Trust shall not be considered marital property and shall not be subject to equitable distribution. The Trust assets belong solely to the Beneficiary.

ARTICLE IX — AMENDMENT AND TERMINATION¶

Section 9.01 — No Amendment by Grantor. The Grantor shall not have the power to amend this Trust Agreement.

Section 9.02 — Limited Amendment by Court Order. This Trust Agreement may be amended only by order of a court of competent jurisdiction in the State of Florida upon a showing that:

(a) The amendment is necessary to carry out the purposes of the Trust as set forth in Section 1.02 and Section 1.04;

(b) The amendment is in the best interest of the Beneficiary; and

(c) The amendment does not violate the Guiding Principle set forth in Section 1.04.

Section 9.03 — Termination. This Trust shall terminate upon the earlier of:

(a) The final distribution to the Beneficiary under Section 6.01(c);

(b) The death of the Beneficiary prior to the final distribution, in which case the remaining Trust assets shall be distributed to the Beneficiary's estate; or

(c) Order of a court of competent jurisdiction.

ARTICLE X — GENERAL PROVISIONS¶

Section 10.01 — Governing Law. This Trust Agreement shall be governed by and construed in accordance with the laws of the State of Florida, including the Florida Trust Code, Chapter 736, Florida Statutes.

Section 10.02 — Severability. If any provision of this Trust Agreement is held to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect.

Section 10.03 — Headings. The headings used in this Trust Agreement are for convenience of reference only and shall not affect the interpretation of any provision.

Section 10.04 — Entire Agreement. This Trust Agreement constitutes the entire agreement with respect to the Trust and supersedes all prior discussions, agreements, and understandings relating to the subject matter hereof.

EXECUTION¶

IN WITNESS WHEREOF, the Grantor and Trustee has executed this Trust Agreement as of the date first written above.

GRANTOR AND TRUSTEE:

Marisol Cruz Date: September 14, 2012

CO-TRUSTEE:

Rafael Antonio Cruz Date: September 14, 2012

WITNESSES:

Teresa Dominguez Date: September 14, 2012

[WITNESS 2 — NAME REDACTED] Date: September 14, 2012

NOTARY ACKNOWLEDGMENT:

STATE OF FLORIDA COUNTY OF MIAMI-DADE

Before me, the undersigned notary public, on this 14th day of September, 2012, personally appeared Marisol Cruz, known to me (or proved to me on the basis of satisfactory evidence) to be the person whose name is subscribed to the within instrument and acknowledged to me that she executed the same in her authorized capacity, and that by her signature on the instrument, the person, or the entity upon behalf of which the person acted, executed the instrument.

WITNESS my hand and official seal.

Notary Public, State of Florida My Commission Expires: ___________

SCHEDULE A — INITIAL TRUST PROPERTY¶

The following property is hereby transferred to the Trust:

Description	Amount
Net earnings from Target Kids Spring Campaign (March 2012)	$1,800.00
Net earnings from Goya Foods regional print campaign (April 2012)	$2,200.00
Net earnings from Carter's catalog shoot (May 2012)	$1,400.00
Net earnings from Univision back-to-school commercial (June 2012)	$3,100.00
Net earnings from miscellaneous catalog and print work (July–August 2012)	$2,600.00
Net earnings from Old Navy Kids regional campaign (September 2012)	$1,300.00
Total Initial Deposit	$12,400.00

Filed with the Clerk of the Circuit Court, Eleventh Judicial Circuit, Miami-Dade County, Florida.

Copy retained by the Law Offices of Adriana M. Vega, Esq.

Copy provided to Co-Trustee Rafael Antonio Cruz.

Copy provided to Teresa Dominguez, designated Successor Trustee.

SCHEDULE B — TRUSTEE ADMINISTRATIVE PRACTICES¶

The following memorandum documents administrative practices adopted by the Trustee in the ongoing management of the Trust. These practices are consistent with the terms of the Trust Agreement and are recorded here for purposes of continuity, transparency, and reference by any Successor Trustee.

Prepared by: Adriana M. Vega, Esq., in consultation with Marisol Cruz, Trustee Initial documentation: March 2014 Last updated: January 2024

B.1 — Personal Spending Account¶

In March 2014, the Trustee established a personal checking account at Wells Fargo Bank, N.A., in the name of the Beneficiary (custodial account, Trustee as custodian), for the purpose of providing the Beneficiary with age-appropriate access to a portion of his earnings for personal spending.

This account is separate from and not governed by the Trust. It is funded through pre-Trust deductions from the Beneficiary's gross entertainment earnings, categorized as reasonable personal and professional maintenance expenses incurred in connection with the Beneficiary's active employment as a child performer (see Section B.2 below).

Monthly transfers to the personal account have been scaled to the Beneficiary's age and earnings level:

Period	Age	Monthly Amount	Notes
2014–2016	8–10	$150–$200	Managed by Trustee; Beneficiary had limited direct access
2016–2018	10–12	$200–$250	Beneficiary given debit card with daily spending limit ($50)
2018–2020	12–14	$250–$300	Spending limit increased ($75/day); Beneficiary began making independent purchases
2020–2022	14–16	$300–$400	Adjusted upward following agency signing and increased earnings; Beneficiary managed day-to-day spending independently
2022–2024	16–18	$400–$500	Adjusted to reflect Beneficiary's active professional schedule and reasonable needs of a working teenager

The Trustee has maintained a consistent principle in administering this account: the Beneficiary should have enough personal funds to learn responsible spending habits and to meet the reasonable day-to-day needs of a teenager with an active professional life, but not so much as to distort his relationship with money or undermine the protective purpose of the Trust. The Trustee has declined requests by the Beneficiary for lump-sum withdrawals from the personal account on multiple occasions, including a request in 2021 (age 15) for $1,200 for a pair of designer sneakers, and a request in 2023 (age 17) for $2,500 for recording equipment that was subsequently approved as a professional development expense under Article V, Section 5.01(a) and purchased through proper Trust disbursement channels rather than the personal account.

The personal account has served its intended purpose. The Beneficiary demonstrates age-appropriate financial awareness, distinguishes between wants and needs with reasonable consistency, and has not exhibited spending patterns that would concern this office.

B.2 — Professional Expense Deductions and Net Earnings Calculation¶

The Trust Agreement (Article II, Section 2.02) directs that "all future net entertainment earnings" of the Beneficiary be deposited into the Trust. The term "net" is calculated as follows:

Gross earnings from all entertainment sources (modeling, performance, digital content), less:

(a) Agency commissions (currently 20% of gross);

(b) Applicable federal and state tax withholdings;

(c) Reasonable professional maintenance expenses, including: - Transportation to and from professional engagements (mileage, parking, rideshare, airfare) - Meals during professional engagements (per diem or actual cost) - Professional wardrobe and grooming expenses reasonably necessary for a working model/performer (this category is interpreted conservatively; the Trustee distinguishes between clothing required to maintain a professional appearance and luxury purchases that exceed what is reasonably necessary) - Communication expenses directly related to professional work (phone plan, limited portion of internet service) - Personal spending account transfers as documented in Section B.1

(d) Permitted Trust distributions under Article V (professional development, educational, medical, and emergency expenses).

The remainder constitutes "net entertainment earnings" and is deposited into the Trust per Article II, Section 2.03.

This calculation methodology was established in consultation with this office in 2012 and has been applied consistently. The Trustee has erred on the side of conservative deductions throughout the life of the Trust, preferring to deposit more rather than less into the Trust corpus. In no case have professional expense deductions been used to fund household expenses of the Trustee or any family member other than the Beneficiary.

B.3 — Trustee's Note on Administrative Philosophy¶

The following is recorded at the Trustee's request, in her own words, for the benefit of any Successor Trustee who may administer this Trust in the future.

My son has worked since he was six years old. He stood in front of cameras before he could read a contract. He earned money that grown men would envy, and he did it by being himself — by being bright and beautiful and unable to hold still unless someone put music on. That money is his. Every dollar. It was always his.

But he was a child, and a child should not carry the weight of his own earnings. A child should not know that the household lights stay on because of him. A child should not feel responsible for his family's financial survival. That is a burden no six-year-old should carry, and I was not going to put it on my son's shoulders, no matter how capable those shoulders were.

So I built this Trust, and I protected his money, and I gave him enough to live like a normal kid with a little spending cash — not a rich kid, not a poor kid, just a kid who happened to work. When he asked for things I thought were too expensive, I said no, the way any mother says no. When he asked for things that were reasonable, I said yes. When he tried to buy me things with his own money because he knew Rafael and I were struggling, I let him — because telling a child that his love isn't welcome is worse than letting him spend $40 on flowers for his mother.

He did not grow up spoiled. He did not grow up deprived. He grew up knowing that his work mattered, that his money was protected, and that his mother was watching the door so nobody — not an agent, not a manager, not a stranger, and not even his parents — could take what was his.

If you are reading this because you are now the Trustee of this account, I ask you to remember one thing: this money is Ezra's. It was earned by a child who trusted the adults around him to do right by him. Do right by him.

— Marisol Cruz, January 2024