[Fund]. The University received a charitable contribution totaling on or around $xxx,xxx to establish and support an endowed “___ Fund”, prior to June 30, 2023 (hereafter “Fund”). Individuals, organizations, or business entities may make additional charitable contributions to the Fund at any time. The University shall receive and administer such charitable contributions in accordance with the terms of this Agreement, the policies of the University, and all applicable regulations and laws.

[Award Program]. The Fund shall be used at the discretion of the ___ to create and support a ___ Award Program in ___ (the “Program”). The Program will include a ___ Award to recognize individuals who personify goodwill and demonstrate, through their work, service, mission and spirit, a dedication to the Commonwealth of Kentucky and its residents. ___ Award recipient(s) will receive an award medallion, and a one-time monetary donation will be made in their name to an existing University fund of their choice. Ms. ___ shall be the inaugural recipient of the ___. Thereafter, a nomination committee (the “Committee”) appointed by ___ shall review nominations to select up to three (3) nominees for final selection by the President of the University. The Committee shall also recommend for the President of the University’s approval the monetary donation amount, which amount shall not exceed the Fund’s annual available spending distribution. The ___ Fund may also be used to support, among other things, costs, fees, and expenses for the Program’s reception/banquet, speaker(s) and honorarium/gift(s), and/or other fees, costs and expenses related to the Program. All such uses shall be in accordance with the normal operations, policies, procedures, regulations and guidelines of the University]. {Variable language}

No Donor Control; No Donor Benefit. Faculty and staff of the University who have contributed to the Fund shall not be a part of the award selection committee referenced above, and they shall not have control of, or direct the uses of, the contributions made pursuant to this Agreement. The University will ensure that donors to the Fund will not receive any benefit from the University, whether direct or indirect, for making their contribution(s) and will not have majority say in disbursement of funds.

Endowment Policies. The University shall invest, manage and administer the endowed Fund in accordance with the University's endowment investment and spending policies approved annually by the University's Board of Regents. Any unused spending distribution may be returned to the Fund following established protocols and procedures.

Stewardship Reports. The University agrees, upon request, to provide annual stewardship reports to Fund donor(s) regarding the specific uses of contributions made pursuant to this Agreement.

Publicity. The University may publicize this agreement and expenditures of the fund. Publicity may include, but is not limited to, University communications, which may be accessed by various local, state and national news media following established University policies and procedures.

Change in Circumstances. It is desired that the Fund will be administered to benefit the University in perpetuity. However, should the fulfillment of the purpose stated in this Agreement become unlawful, impracticable, impossible to achieve, wasteful, or obsolete, as determined by the Board of Regents of the University or their designee, then the Fund shall be expended to the point of exhaustion, or the spending distribution redirected for another purpose to support an initiative similar to the original purpose upon