___________________________ FAMILY REVOCABLE LIFE INSURANCE TRUST [year]

___________________________________家 [year]　撤回可能 生命保険信託

This trust agreement (this “agreement”) is made this [day] of [month] , [year], between [full name of settlor], holder of [country] passport number [#] and [country] identity card number [#], whose address is situated at [address] (the "settlor") of the one part, and Fidelity Fiduciary Trust Limited (the "trustee"), of Suite 3103-4, Tower 6, The Gateway, 9 Canton Road, Tsim Sha Tsui, Hong Kong of the other part.  (The settlor and the trustee together are hereinafter referred to as the “parties”.)

本信託契約は、_____2017年_____月_____日付で、(住所) __________________________________________________________________________________ に住所がある (英字氏名) ________________________ ("委託者") とSuite 3103-4, Tower 6, The Gateway, 9 Canton Road, Tsim Sha Tsui, Hong Kongに住所があるFidelity Fiduciary Trust Limited (以後、"受託者"と呼ぶ) との間で締結される。

WHEREAS:

The settlor intends to create a trust known as the [NAME] FAMILY REVOCABLE LIFE INSURANCE TRUST ([year]) (the “trust”).

The settlor intends the subject matter of the trust to be (1) insurance policy on the settlor's life of which the settlor is the insured party and the trustee is any insurance policy owner; and (2) other trust properties as more particularly described hereinbelow.

The settlor intends the cestuis que trust to be the persons nominated at the direction of the settlor from time to time under this agreement (the “trust beneficiaries”).

THE PARTIES HEREBY AGREE AS FOLLOWS:

次のように当事者はここに同意します:

TRUST REVOCABLE  This trust agreement and the trust settled hereunder are revocable at the wish of the settlor only.

撤回可能信託  本信託契約は、唯一、委託者の希望に基づき、撤回可能とする。

The trustee shall be the owner of and beneficiary under any insurance policy held in the trust.

受託者は、委託者の生命に係る特定の保険契約を所有する受益者の一人である。

The trustee shall hold (1) any cash deposited by the settlor into the trust account; (2) any insurance policy; and (3) all the benefits and interests therein and proceeds from (1) and (2) hereinabove ((1), (2), and (3) hereinabove collectively are referred to herein as the “trust properties”) on trust for the trust beneficiaries nominated by the settlor from time to time.  The trustee agree to hold, maintain, manage, and administer all the trust properties as the trustee may receive from time to time in accordance with the terms and conditions of this agreement. 

受託者は、当該保険契約を所有し、受託者が所有者及び受益者の一人として記名される委託者の生命に関わるその他の保険契約も所有する。“保険契約”という言葉には、死亡保険金が受託者に対して支払われる生命保険、年金契約、繰延報酬制度、傷害保険、適格・非適格退職金、年金、利益分配制度・契約 が含まれる。受託者は、当該保険契約や本信託契約の条件に従って本契約に基づいて受領するその他の資産を所有し、管理することに合意する。本契約で作成される信託は__________________________________________ 家 [2017]と称する。

INSURANCE BROKER

The trustee may rely upon the advices of professional insurance brokers in recommending any insurance policy to be purchased by the trustee for the settlor and administering the insured amounts thereunder.  Insofar as the trustee has been advised by a professional insurance broker, the trustee shall have no further duty to inquire into the financial status of any insurer recommended by the broker upon entering into any insurance policy.  Insofar as the trustee has been advised by a professional insurance broker, the trustee shall have no ongoing duty to monitor the investment performance of any instance policy held by the trustee or the financial performance of the insurer of any insurance policy.  The trustee may rely upon the recommendations and advice of the insurance broker without liability to any trust beneficiary.

保険ブローカー

受託者は、受託者によって購入・維持される保険契約設計・資金調達において、専門の保険ブローカーの助言に頼ることができる。受託者は、当該ブローカーによって推奨される保険会社の財政状況を調査する義務を負わない。受託者は、受託者によって所有される保険の投資実績や当該保険の保険会社の財務実績を監視する義務を負わない。受託者は、受益者に対する責任を負うことなく、保険ブローカーの推奨・助言に頼ることができる。

The trustee in discharging its duties may act in the trustee’s absolute discretion.  In performing its duties under this agreement, the trustee shall not be held liable or responsible for any losses or damages to the settlor and the trust beneficiaries.  The settlor agrees and undertakes on behalf of himself and the trust beneficiaries not to make any claim whatsoever against the trustee for any losses or damages as long as the trustee has been acting in good faith in the best interest of the trust. 

委託者の利益のために自らの絶対的裁量により行動する受託者は、委託者のいかなる損失および損害に対して責任を負わない。委託者は、受託者が委託者の利益のために誠実に行動している限り、いかなる損失および損害について受託者に対していかなる何らの請求を行わないことに同意し、約束する。

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DURING THE LIFETIME OF SETTLOR

The trustee may apply for, purchase, maintain, manage, and administer any insurance policy in such amounts and under such terms and conditions as the trustee may deem appropriate.  The trustee may maintain, manage, and administer any insurance policy without liability to any beneficiary, whether or not such insurance policy is considered to be a proper investment under the prudent investor standard for fiduciary investments, produces income, or represents an overconcentration in one investment.

委託者の生存期間中

受託者は、自身が適切と見なす金額・条件で、委託者の生命保険を申込み、購入、維持することができる。受託者は、受益者に対して責任を負うことなく、生命保険契約が賢明な信託投資向けの投資家基準に沿う適切な投資と見なされるかどうか、収益を挙げるかどうか、一つの投資への一極集中を示しているかどうかに関わらず、当該生命保険を保持することができる。

The trustee shall maintain, manage, and administer any insurance policy and all the benefits and interests therein and proceeds thereof and shall accumulate and hold any incomes received therefrom.

The trustee shall have no duty to reinvest any incomes from any insurance policy or to make any periodic reports to the beneficiaries (other than notifications of withdrawal rights) on the financial performance of any insurance policy.  The trustee shall be under no obligation to pay any premiums due and payable from time to time with respect to any insurance policy, or to see to that such premiums are paid by the settlor or any other persons, or to notify any persons of the non-payment of any premiums.

Nonetheless, the trustee shall have power at its full discretion to pay any premiums due and payable under any insurance policy held in the trust from time to time.  The trustee shall have power at its full discretion to apply any cash held in the trust from time to time, including but not limited to any amounts deposited by the settlor into the trust account, any incomes received or proceeds derived from any insurance policy, and any amounts borrowed using any insurance policy and all the benefits and interests therein and proceeds thereof as collateral, for the payment of any premiums due and payable from time to time with respect to any insurance policy held in the trust.

The trustee shall have power at its full discretion whereby it may exercise all rights, elections, options, privileges, and other powers with respect to any insurance policy held in the trust.  Such power includes the right to exercise any conversion privilege or option to purchase additional insurance policy, the right to apply the cash value of any policy to the purchase of paid-up or extended insurance policy, and the right to surrender any insurance policy in exchange for the cash value thereof.  Upon the exercise of such power, any additional insurance policy, paid-up or extended insurance policy, or cash obtained thereby shall become part of the trust properties held in the trust.

If no funds are available for the payment of premiums on any policy, the trustee is authorized to distribute such policy to the settlor’s beneficiaries living at the date of distribution.[VC1] 

受託者は、信託資産を所有・管理し、信託資産から受領する収益を蓄積し、信託元本に付加する。受託者は、元本と収益に関して、本信託の元本を投資し、受益者への定期報告（引出権の通知以外）を行う義務を負わない。さらに、受託者は、信託が利害関係を持つ生命保険契約に関して、支払期日が来ている保険料金を支払う義務を負わず、また、当該保険料金が委託者やその他の者によって支払われているか確認する義務を負わず、当該保険料金の未払いをいかなる者にも通知する義務を負わない。しかし、受託者は、生命保険契約から受領する配当を適用し、当該保険料金を支払うために保険契約の現金価値に基づき借り入れをし、あるいはその他の方法で、当該目的のために信託の収益や元本を使用する権限を有する。また、受託者は、信託が利害関係を有する生命保険契約に関して、転換権、追加保険購入オプション、保険の現金価値を支払済み保険または継続保険へ充当、保険の現金価値と引き換えに保険契約を解約する権利を含む、全ての権利、選択、オプション、特権、その他の権限を所有・行使する。保険契約の保険料金の支払いのための資金が入手できない場合、受託者は、当該保険契約を、分配日において生存している委託者の受益者に対して分配する権限を有する。

UPON THE DEATH OF SETTLOR.

The trustee shall collect in all the benefits and interests in and proceeds from any insurance policy held in the trust by reason of said death.  In collecting in such benefits, interests, and proceeds, the trustee shall have power at its full discretion to elect any optional mode of settlement as it sees fit.  With respect to any insurance policy held in the trust, any payment to and receipt of by the trustee shall constitute discharge of any corresponding liability of any insurance company, which need not take notice of this agreement or any payment made by the trustee to the trust beneficiaries pursuant to tothis this agreement.agreement.    The trustee shall have power and be authorized to institute any legal proceedings for and on behalf of the trust to enforce payment under any insurance policy but shall have full discretion to determine whether or not to institute such proceedings.  In exercising such discretion, the trustee may take into consideration whether or not there is sufficient indemnification satisfactory to it for any attorney’s fees or other resulting expenses.

委託者の死亡時

受託者は、委託者の死亡により信託へ支払われる保険金、死亡給付金、その他の資産を回収する。当該保険金、給付金、その他の資産の回収時に、受託者は、任意の清算方法を選択でき、受託者への支払や受託者による受領については、保険会社の責任を完全に免除するものであり、保険会社は、本証書を顧慮する必要はなく、受託者への支払いの充当を取り計らう必要はない。受託者は、保険契約に基づき支払を履行するための法的手続きをとる権利を有するが、弁護士費用やその他結果として発生する費用に対して自身が満足する補償のないままに法的手続きをとる義務を負わない。

After deducting all fees, disbursements, amounts payable, and other liabilities, the trustee shall distribute all remaining net trust properties to the trust beneficiaries whose names are listed in Appendix I herein.

保険金、死亡給付金、その他の資産は、付属書Iに記載される信託の収益を受領する資格がある、又は、その可能性がある者に対して分配される。（常に受託者や承継受託者を含む。）

The settlor may change any of the trust beneficiaries named in Appendix I herein by giving written notice of not less than 28 days to the trustee.

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ADDITIONAL POWERS AND AUTHORIZATONS OF THE TRUSTEE

The trustee shall have the following powers exercisable at the trustee’s full discretion in addition to any other powers and discretions granted by law or elsewhere in this trust agreement.

受託者の権限

受託者は、法律その他本信託契約により付与される権限に加えて以下の権限を有する。

1. To maintain, manage, and administer fully any insurance policy held in the trust and all the benefits and interests therein and proceeds thereof from time to time, including but not limited to the power to pledge any insurance policy and the benefits and interests therein and proceeds thereof as securities for loans.
2. To maintain, manage, and administer cash and all trust properties held in the trust.
3. To invest the trust properties, including any insurance policy held in the trust, in any securities and properties it deems advisable, including, but not limited to, common stock, preferred stock, mutual funds, and corporate and government debt.
4. To exercise all the rights of ownership over any property held in the trust.
5. To claim, litigate, settle, compromise, or refer to mediation or arbitration any claims in the trustee’s name for and on behalf of the trust.
6. To borrow money for any purpose incidental to the maintenance, management, and administration of the trust properties and to pledge any of the trust properties for such borrowing.
7. To receive reasonable compensation for its services; to pay all reasonable charges and expenses; to allocate expenses, charges, and credits between principal and income in accordance with applicable trust accounting rules; and to charge the trustee’s fees to income.
8. To employ brokers, bankers, custodians, investment counsel, attorneys and other professionals and agents and to delegate to them such duties as trustee deems proper, without liability on the part of the trustee for any errors or omissions of such persons engaged.
9. To execute and deliver all written instruments for and on behalf of the trust necessary or appropriate for the exercise of any power of the trustee.
10. To acquire, by purchase, transfer, or otherwise, life insurance contracts of any kind or nature on the life of the settlor and to pay all premiums or charges incurred in connection therewith.
11. To share documents with regulators and other parties for the policy maintenance and regular audit if necessary.
12. 信託にて管理する保険証券、すべての利益・収益を、維持・管理、および管理すること。これには、保険証券をローンの担保とする権利およびその利益・収益が含まれますが、これらに限定されません。
13. 信託へ譲渡される現金やその他の資産を、当該資産が投資用に認められるどうかに関わりなく、保持すること。
14. 普通株、優先株、投資信託、社債・政府債を含むがこれらに限られない、受託者が望ましいと考える証券・資産への投資。
15. 信託資産に対する所有権の行使。
16. 信託への／信託からの全ての主張を示談、和解、または仲裁に付すこと。
17. 信託財産保護のために信託管理に付随する目的用に資金を借り入れ、支払用に信託財産を担保に供すること。
18. サービスに対する相当の償金を受領し、信託の全ての妥当な費用支出を支払い、適用される信託会計基準に従って元本と収益間の費用、料金、クレジットを割り当て、受託者の通常の年間収益を請求すること。
19. ブローカー、銀行業者、管理人、投資顧問、弁護士その他の代理人を起用し、彼らに受託者が適切と見なす義務を委任すること。但し、善良な管理者の注意を払って起用した者によるミス、不作為に対する責任を負うことはない。
20. 受託者の権限行使にとって必要かつ適切な全ての書面証書を締結し、送付すること。
21. 購入、譲渡、その他の方法により、委託者の生命に関わる一切の種類・性質の生命保険契約を取得し、それらの契約により発生する全ての保険料金・課金を支払うこと。
22. 保険証券の維持と定期監査のために、規制当局や他の関係者と文書を、必要に応じて共有すること。

TRUST BENEFITS ARE NONASSIGNABLE                              

The trust is not liable for any debts of any the trust beneficiaries.  The trust properties and all the benefits and interests therein and proceeds thereof from time to time shall not be used for discharging any debts of any of the trust beneficiaries.  No beneficiary shall have any power or otherwise be entitled to sell, assign, encumber, hypothecate, create any security interest over, or anticipate in any manner his or her present or future beneficial interest in the trust, save and except that when the trustee resigns or becomes insolvent, it will be obliged to assign all trust properties held in the trust to the successor trustee.

信託利益は譲渡不能

本契約により設定される信託の元本・収益のいずれも、受益者の負債に対して責任を負わず、受益者は、受益者に対する実際の分配以前に信託受益権をいかなる方法でも売却し、抵当に入れ、先取りする権限を有しない。但し、受託者が辞任、あるいは、破産し、承継受託者へ信託受益権を譲渡する義務がある場合は除く。

SUCCESSOR TRUST

承継信託

(1)(a) Upon the resignation of the trustee resigns, it shall have the power to appoint a successor trustee.  Such appointment must be in writing and be delivered to the settlor and the trust beneficiaries. 

(b) Resignation of the trustee shall not be effective until a successor trustee is appointed.

(1)(a) 受託者が以後の受託者としての務めを果たすことを辞任する場合、受託者は承継受託者を指名する権限を有する。当該指名は、書面で行われるものとし、委託者、受益者、及びその他の受託者（いる場合）へ送付されなければならない。

(b) 受託者の辞任は、承継受託者が指名されるまで有効とはならない。

(2) In the event of the liquidatonliquidation, administration, or receivership of the trustee, its liquidator, administrator, or receiver, as the case may be, shall have the power to appoint a successor trustee.  Such appointment must be in writing and be delivered to the settlor and the beneficiaries. 

(2) 受託者、及び解散時の清算人ないし管財人は、承継受託者を指名する権限を有する。当該指名は、書面で行われるものとし、委託者、受益者、及びその他の受託者（いる場合）へ送付されなければならない。

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TRUSTEE’S FEES AND DISBURSEMENTS              

1. Upon the signing of this agreement, the settlor shall pay the trustee an upfront fee of 1,000 HKDUS$[#].  The upfront fee is not refundable in the event that the first application by the trustee for and on behalf of the trust for any insurance policy fails to be approved by any insurance company.  In such case, the trustee is not obliged to make any further applications for and on behalf of the trust for any further insurance policy and this agreement is determined.
2. Upon a successful first application by the trustee for and on behalf of the trust for any insurance policy, for the first year, the settlor shall pay the trustee an annual custodian fee of USD200 per annum for holding the trust properties on trust.  In the event that, within 6 months of the date of this agreement, all insurance policies held in the trust are assigned back to the settlor or other persons nominated by the settlor, the settlor shall pay the trustee a termination fee of USD200.
3. For the second and subsequent years, the settlor shall pay the trustee an annual custodian fee of USD10,000 per annum for holding the trust properties on trust.the trustee will not charge any extra fee if there is no extra service required from settlor or beneficiaries. 
4. The trustee is entitled to additional professional fees USD2600 HKD per request hour in respect of meetings and other additional professional services.  The requests herein include cancellation of trust or policy, premium settlement or change of beneficiaries, re-instatement of policy, re-issue of policy and other services required by the settlor or beneficiaries and so forth.  The trustee will waive this fee for two services per year.  In particular, in the event of the death of the settlor, the parties acknowledge that the trustee is likely to have to provide additional professional services, which will be chargeable by the trustee on aan different scale of chargeshourly basis if necessary..
6. The settlor undertakes to pay the trustee for all disbursements incurred by the trustee incurred in the course of the trustee discharging its duties under this agreement.  For the avoidance of doubt, disbursements are necessary third-party expenses incurred in the course of the trustee’s discharging of its duties under this agreement.  Annual custodian fees and professional fees charged by the trustee are not disbursements.   In particular, all necessary legal fees (including legal fees for instituting legal proceedings) are disbursements.
7. The settlor authorizes the trustee to set-off all due and owing fees and disbursements from any cash held in the trust account, which the settlor authorizes the trustee to transfer from the trust account to the trustee’s own account.  Where there is insufficient cash in the trust account to defray any due and owing fees and disbursements, the trustee shall issue a fee note to the settlor (or the settlor’s estate in the event of the settlor’s death) for the outstanding sum which shall be immediately payable.
8. The trustee has the authorities to adjust the fees and disbursements with one month prior notice to reflect the change of business dynamics or cost structure.

受託者の費用

1. 本契約の署名後、委託者は受託者に1,000HKDの前払手数料を支払う。前払いの設定費用は、保険契約申請が保険会社の承認を得られない場合には、払い戻し不能である。そのような場合、信託に代わり、更に保険契約の申請を行う義務を受託者は負わず、この契約が終了します。

b.      信託に代わり、最初の保険契約申請に受託者が成功した後、追加サービスが委託者または受益者から必要とされない場合、受託者は追加料金を請求しません。各会合や追加専門サービスにつき、リクエスト毎に200香港ドルの追加手数料を、受託者は請求する資格がある。ここにおけるリクエストには、信託または保険証券のキャンセル、保険料決済または受益者変更、保険証券の回復、再発行、および委託者または受益者が必要とするその他のサービスなどが含まれます。1年につき、サービス２件の手数料を受託者は免除する。特に、委託者が死亡した場合、両当事者は、受託者が追加の専門サービスを提供する必要性が高いことを認める。このサービスにつき、異なる料金体系で、必要に応じて受託者から手数料を請求できる。

c.      委託者は、受託者が本契約に基づく義務を履行する過程で発生した受託者による全ての支出につき、受託者へ支払うことを約束する。疑義の生じるのを避けるために、この支払いは本契約に基づく受託者の義務履行の過程で発生する必要な第三者費用です。受託者が請求する年次保管手数料および専門家手数料は、支出ではない。特に、必要な全ての法的費用（法的手続きを開始するための法的費用を含む）は支出である。

d.      受託者が信託口座に保持する現金から全ての未払金および支払いを相殺すること、受託者が信託口座から受託者自身の口座に送金することを、委託者は承認します。信託口座に支払いを行う現金が充分でない場合、すぐに支払われるべき未払い額の請求書を委託者（または、委託者が死亡した場合は委託者の財産）に受託者は発行する。

e.      受託者は、事業の変動またはコスト構造の変更を反映し、1か月前に通知して手数料と支出額を調整する権限を有する。

GOVERNING LAW

This agreement is governed by the Laws of the Hong Kong Special Administrative Region.  The Courts of Hong Kong shall have jurisdiction in hearing any dispute arising out of or in connection with this agreement and the trust.

準拠法     

信託契約は、香港法に従って解釈されるものとする。

This agreement is drafted in English and Japanese.  The English version shall be definitive.

翻訳に差異がある場合は、英文を最終的な解釈として優先します。

IN WITNESS WHEREOF, settlor and trustee, by its duly authorized officer, has executed this agreement on the date of _____ , _____ 20__ (DD/MM/YYYY)17

これを証して、委託者と受託者は、正式に権限付与された担当官によって、本契約を____2017年____月____日の日付で締結した。

SETTLOR（委託者）                                              WITNESS（証人）

________________________________                                 ___________________________________

Name (英字氏名):                                                                     Name (英字氏名):

TRUSTEE（受託者）                                              WITNESS（証人）

________________________________                                 ____________________________________

Fidelity Fiduciary Trust Limited                                  Name (英字氏名):

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___________________________ FAMILY [2017_____] REVOCABLE LIFE INSURANCE TRUST

___________________________________家 [2017____] 　撤回可能 生命保険信託

Appendix I (付属書 I)

Na  Name of Beneficiary/ Beneficiaries of the trust (in %) : 受益者氏名/ 信託受益者 (　 %) :

Ad  Addresses (if different to the Insured) : 住所 (保険契約者と異なる場合) :

Na  Name of Beneficiary/ Beneficiaries of the trust (in %) : 受益者氏名/ 信託受益者 (　 %) :

Ad  Addresses (if different to the Insured) : 住所 (保険契約者と異なる場合) :

Na  Name of Beneficiary/ Beneficiaries of the trust (in %) : 受益者氏名/ 信託受益者 (　 %) :

Ad  Addresses (if different to the Insured) : 住所 (保険契約者と異なる場合) :

SETTLOR（委託者）                                              WITNESS（証人）

________________________________                                 ___________________________________

Name (英字氏名):                                                                     Name (英字氏名):

TRUSTEE（受託者）                                              WITNESS（証人）

________________________________                                 ____________________________________

Fidelity Fiduciary Trust Limited                                  Name (英字氏名):

5/5

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