MICHAEL G. CANTONIS
1650 Seabreeze Drive
Tarpon Springs, FL 34689
727-938-5067

March 30, 2000

DRAFT PROPOSAL FOR GREEK ORTHODOX ARCHDIOCESE
ARCHBISHOP SPYRIDON'S PENSION TRUST FUND

INTIAL CONTRIBUTION OF $1,000,000.00 (ONE MILLION DOLLARS) TO THE FUND BY MICHAEL G. CANTONIS COMPRISED OF:

(1) MARKETABLE SECURITIES ALREADY DEPOSITED TO THE ACCOUNT OF THE GREEK ORTHODOX ARCHDIOCESE WITH PAINE WEBBER.

(2) CASH OF $170,000.00 (ONE HUNDRED SEVENTY THOUSAND DOLLARS) ADVANCED TO THE ARCHDIOCESE FOR THE SAME PURPOSE AS THE SECURITIES.

(3) BOTH THE ABOVE AMOUNT TO APPROXIMATELY $900,000.00.

UPON AGREEMENT TO IMPLEMENT THE PENSION FOR ARCHBISHOP SPYRIDON, I COMMIT MYSELF TO ADVANCE A CHECK FOR AN AMOUNT TO REACH THE ONE MILLION-DOLLAR FIGURE.

THE ABOVE TRUST FUND WILL BE ESTABLISHED FOR THE SPECIFIC PURPOSE OF SUBSIDISING ARCHBISHOP SPYRIDON'S PENSION TO BE IMPLEMENTED BY THE ARCHDIOCESE. 4% OF THE ASSETS OF THIS TRUST FUND WILL BE PAID ANNUALLY TO THE ARCHDIOCESE TO REDUCE THE ARCHDIOCESE'S COST OF THE PENSION AS SOON AS IMPLEMENTED.

AS TIME GOES BY AND THE PRINCIPAL OF THE FUND GROWS, HOPEFULLY FROM ADDITIONAL CONTRIBUTIONS FROM OTHER FRIENDS OF HIS EMINENCE SPYRIDON, AND FROM MARKET APRECIATION, THE 4% CONTRIBUTION TO THE ARCHBISHOP'S PENSION FUND WILL KEEP INCREASING TO THE EXTENT THAT THIS 4% CONTRIBUTION MAY COVER HIS EMINENCE'S TOTAL PENSION EXPENSE FORSEEABLE FUTURE AND WILL COST NOTHING TO THE ARCHDIOCESE.

ON A MORE OPTIMISTIC NOTE, THERE MAY BE SURPLUSES THAT CAN BE SPLIT BETWEEN THE HALKI THEOLOGICAL SCHOOL (WHICH I PRAY AND HOPE WILL OPEN SOON), AND ARCHBISHOP SPYRIDON'S SCHOLARSHIP ENDOWMENT FUND FOR THE EDUCATION OF PRIESTS AT HCHC. THE DOLLAR AMOUNT OF THE PENSION WILL BE ADJUSTED EVERY 3 YEARS ACCORDING TO THE CONSUMER PRICE INDEX.

SINCE NONE OF US WILL LIVE IN THIS WORLD FOREVER, AFTER ACHBISHOP SPYRIDON'S PASSING, THE FUND WILL STAY IN PERPETUITY AND THE 4% INCOME WILL BE SPLIT EQUALLY BETWEEN THE ECUMENICAL PATRIARCHATE AND ARCHBISHOP SPYRIDON SCHOLARSHIP ENDOWMENT FUND AT HCHC FOR THE EDUCATION OF PRIESTS THAT THE ARCHDIOCESE NEEDS VERY BADLY.

I BELIEVE THAT THE ABOVE PROPOSAL IS FAIR FOR ALL THREE PARTIES-ARCHBISHOP SPYRIDON, THE ARCHDIOCESE AND THE ECUMENICAL PATRIARCHATE.

RESPECTFULLY,

MICHAEL G. CANTONIS
MGS:sc

Copies sent to:
     - Executive Committee Members
     - Mr. Michael Jaharis

[ Orthodox Truth | www.orthodox-truth.bugs3.com/art_21.html
  From posting: "Michael Cantonis' Correspondence with Goa and the Ecumenical Patriarchate"
  March 30, 2000 ]