FONDATION GRAMONT

to cover the costs of education, training, establishment, treatment, convalescence or hospitalization of the members of the founder's family, whom the founder or the Foundation Council freely designates. None of the assets or income of the Foundation may be used for purposes other than those stated above. The Foundation does not confer any rights on the beneficiaries, and the allocations or distributions of assets or income are made to them on a voluntary basis.