Divorce Settlement Agreement

Divorce Settlement AgreementPage 1.

DIVORCE SETTLEMENT AGREEMENT

between

CLARE SARAH GILLESPIE

and

GLYNN GILLESPIE

1.Definitions

1.1In this agreement, the following words shall have the meanings assigned to them hereunder:-

1.1.1Clare – Clare Sarah Gillespie (identity number 7503060061088);

1.1.2Glynn – Glynn Gillespie (identity number 7005265093080)

1.1.3“the parties” –Clare Sarah Gillespie and Glynn Gillespie;

1.1.4“the children” – Nikki Gillespie, female, born on 21 March 2005; and Kaitlyn Gillespie, female, born on 13 November 2008;

1.1.5“the parenting plan” - the parenting plan concluded between the parties which determines the exercise of their respective parental responsibilities and rights concerning the children and which is annexed hereto marked “A”.

1.1.6“the Order of Divorce” - the Order of Divorce to be granted by the KwaZulu-Natal, High Court, Durban/ Pietermaritzburg, Republic of South Africa.

1.2Headings of clauses shall be deemed to have been included for purposes of convenience only and shall not affect the interpretation of the Agreement of Settlement.

1.3Unless inconsistent with the context, words relating to the singular shall include the plural and vice versa, and words relating to the natural persons shall include associations of persons having corporate status by statute or common law.

2.Preamble

2.1The parties were married to each other Out ofCommunity of Property, by Antenuptial Contract, with accrual, at Pietermaritzburg, KwaZulu-Natal, on 19 May 2001, in accordance with the laws of the Republic of South Africa.

2.2The parties agree that the marriage has broken down irretrievably and that they are to be divorced.

2.3The parties have reached agreement with regard to maintenance, property and other proprietary and ancillary consequences of the divorce.

2.4The agreement is hereby recorded in writing.

3.Divorce

3.1The terms and conditions of this agreement shall come into effect upon signature of this agreement, with the salient terms of same being made an Order of Court at the time of the granting of an Order of Divorce.

3.2The Order of Divorce sought by the party attending Court for the trial of the divorce action shall confirm the terms and conditions of this agreement, which, insofar as may be permitted by the Court, shall be included in the Order of Divorce granted.

4.Parental Responsibilities and Rights

Both parties shall, in respect of the children, have the parental responsibilities and rights as set out in the parenting plan.

5.Maintenance

5.1Glynn agrees to pay Clare nominal maintenance of R1.00 (one rand) per year.

5.2Glynn shall pay maintenance in respect of the children as set out in the parenting plan.

5.3Apart from paragraph 5.1 of this agreement, the parties waive the right to claim maintenance for themselves from each other.

6.Movable Property

Each party shall retain the movable property in their possession as at the date of signature of this agreement.

7.Business Interests, Investments, Policies and Insurances

The parties record that they have business interests, investments and policies in their own names. Unless specifically dealt with in this agreement of settlement, both parties shall retain as their sole and absolute property all investments, retirement annuities, pension and provident funds, life and disability insurances and endowments registered in their names and both parties waive any rights which they may have had in and to such policies as may be owned by the other party.

8.Medical Cover

Each party shall be responsible for procuring their own medical aid cover and paying their own medical expenses.

9.Binding on Estate

The terms and conditions of this agreement shall be binding on the parties’ estates, their executors, heirs and assigns.

10.No Variations

10.1This agreement of settlement contains all the terms and conditions of the agreement between the parties.

10.2No variation of or abandonment or waiver of rights or obligations shall be binding unless contained in this agreement or subsequently reduced to writing and signed by the parties.

10.3Save as is provided in this agreement, neither party shall have any further claims against the other and hereby waives and abandons all and any such claims, including any claims of accrual.

11.Divorce Action

11.1It is recorded that Clare shall instituted a divorce action against Glynn for a decree of divorce and other relief through the KwaZulu-Natal High Court, Durban, Republic of South Africa.

11.2Subject to the terms of this agreement of settlement, Glynn agrees not to oppose the action and Clare undertakes to proceed to claim a decree of divorce dissolving the marriage between the parties upon the grounds that there has been an irretrievable breakdown of the marriage relationship between the parties and to claim such other relief which is not inconsistent with the terms and conditions of this agreement of settlement and to proceed to the final end and determination thereof.

12.Costs

Each party shall be liable for their own legal costs associated with the divorce.

Dated at on this the day of 2013.

As witnesses:-

2.______

Clare Sarah Gillespie

Dated at on this the day of 2013.

As witnesses:-

2.______

Glynn Gillepsie