ANTHONY P. ALTIERI, JR. AND PATRICIA L. ALTIERI SCHOLARSHIP

227-38 Appendix IV ANTHONY P. ALTIERI, JR. AND PATRICIA L. ALTIERI SCHOLARSHIP 1. NAME: The name of this scholarship shall be the "Anthony P. Altieri, Jr. and Patricia L. Altieri Scholarship." 2. PURPOSE: The purpose of this scholarship shall be to provide recognition and financial assistance to undergraduate students enrolled or planning to enroll in the Schreyer Honors College at The Pennsylvania State University. 3. AMOUNT/SOURCE OF FUNDS: The initial principal of this fund, $50,000, is expected to be contributed to The Pennsylvania State University for the above-stated purpose by Anthony P. Altieri, Jr. (Class of 1950) and Patricia L. Altieri (Class of 1949). Additional contributions may be made by interested persons or organizations. 4. ELIGIBILITY: Consideration for this scholarship shall be given to all full-time undergraduate students enrolled or planning to enroll in the Schreyer Honors College at The Pennsylvania State University who have achieved superior academic records or who manifest promise of outstanding academic success. 5. SELECTION PROCEDURE: Recipients of this scholarship shall be selected by the Dean of the Schreyer Honors College. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall be informed of all awards. 6. AMOUNT OF AWARD: The number of scholarships awarded and the amount of each shall be determined by the Dean of the Schreyer Honors College. Scholarships shall be awarded annually in accordance with the University endowment spending policy and shall conform to existing University policy. Any available monies not awarded in a particular year shall either be added to the principal or retained for award together with the monies available for expenditure in the following year, as determined by the Dean of the Schreyer Honors College. 7. TERM OF AWARD: Each scholarship shall be awarded for one academic year and shall be renewed for subsequent years providing the recipient continues to meet the conditions of eligibility and funds are available. achieved by limiting spending to an annually determined spending rate based on the market value of the fund. As authorized by the Board of Trustees, the University s Investment Council monitors and administers annual endowment spending. Any investment returns in excess of the designated 9. AMENDMENT: The Board of Trustees of The Pennsylvania State University, in consultation with the donor when possible, shall have the authority to make changes in these guidelines which are Revised 03/14/2006 OPGE 10/01/1998

227-39 Appendix IV TEACHING FELLOW AWARD: ALUMNI ASSOCIATION AND STUDENT AWARD RECOGNIZING TEACHING EXCELLENCE 1. NAME: The name of this award shall be the "Teaching Fellow Award: Alumni Association and Student Award Recognizing Teaching Excellence." 2. PURPOSE: This award was established in 1988 through the joint efforts of the Alumni Association, the Undergraduate Student Government, and the Graduate Student Association, to honor and recognize distinguished teaching while providing encouragement and incentive for teaching excellence at The Pennsylvania State University. This Award was traditionally presented exclusively to faculty at the University Park Campus. In 1997, the Alumni Association revised the guidelines to recognize two recipients, with the requirement that at least one be from a Penn State campus other than University Park. In 2006, the Alumni Association again revised the guidelines. This revision was caused by 1) financial pressure stemming from the rapidly increasing costs of sustaining the program beyond what the endowment could provide and 2) a desire to extend the benefits to more faculty members while enhancing undergraduate education more broadly in the recipients home academic departments. Henceforth, the Teaching Fellow Award will go to three recipients each year, with the stipulation that at least one of the three be from a campus other than University Park. 3. AMOUNT OF FUND: In 1988, the initial principal of this fund, $250,000, was pledged over a five (5) year period for the above-stated purpose by the Penn State Alumni Association. In 1998, the Alumni Association pledged an additional $500,000 to this endowment. Additional contributions may be made by interested persons or organizations. 4. ELIGIBILITY: Consideration for this award shall be given to all full-time tenured faculty with a minimum of three (3) years of teaching experience at the University. Evaluations shall be based upon excellence and lasting impact in areas such as general teaching ability, scholarship, academic advising and career guidance, enthusiasm and commitment to undergraduate education. 5. SELECTION PROCEDURE: Beginning in the 2006-07 academic year, three recipients shall be selected annually, with at least one of the three being from a campus other than University Park. Recipients shall be selected by a special committee, chosen by the Executive Director of the Alumni Association, and composed of three alumni volunteers; three students, at least one of whom represents a campus other than University Park; three faculty members, at least one of whom represents a campus other than University Park, and one administrative representative of the Penn State Alumni Association. Recipients shall be chosen by the committee as early as possible during the spring semester. The awards shall be announced at the spring University Awards Luncheon and the spring Alumni Council meeting. Nominations shall be accepted each fall from students, faculty, administrators, staff, parents, alumni and friends of Penn State. All nominations shall be submitted to an academic college at University Park or a campus other than University Park. Nominations shall be approved by the dean of each college or the chancellor of a campus for submittal to the Alumni Association. 6. AWARD AND GRANT: The amount of each Teaching Fellow Award and Grant shall be determined annually by the President of the Alumni Association and the Executive Director, based on the available earnings generated by the endowment. Expenditures shall be made exclusively from the endowment. Any income not awarded during a particular year may be used to pay for the other costs intended to operate the program. Any remaining income shall then be added to the principal. Besides the monetary award, each recipient shall also receive a plaque commemorating his or her selection as a Teaching Fellow. In addition, an engraved name plate shall be mounted on the permanent Teaching Fellow Award plaque. The plaque is currently located in the Hetzel Union Building but can be moved to another prominent location by the mutual agreement of the Alumni Association and the University.

227-40 Appendix IV In addition to the individual monetary awards, the Alumni Association shall provide a grant to the home academic department of each faculty recipient. This grant is to be administered by the recipient over a period of no more than three years for the improvement of undergraduate instruction within that department. 7. CONDITIONS AND USES OF AWARD AND GRANT: Recipients are expected to share their talents and expertise with others in their home academic departments and throughout the University system. Opportunities may include such activities as participating in workshops and symposia, giving lectures and presentations on teaching techniques for new faculty and graduate assistants, taking part in discussions or seminars with students in the Schreyer Honors College, and teaching honors courses. The new recipients are expected to attend the Alumni Association s annual Teaching Fellow Dinner, at the beginning of the fall semester, and speak to the Teaching Fellows from years past about their philosophy of teaching and how they expect to use the grant. In addition, the recipients may be asked to speak at the fall or spring meetings of Alumni Council. The grant to the home academic department of the recipient is to be administered by the recipient for the improvement of undergraduate teaching and learning within that department. To be expended within three academic years, the grant may be used for a variety of activities that improve the quality of undergraduate teaching and learning. For example, these activities could include community engagement projects; service learning; travel and presentations by undergraduates at academic conferences; undergraduate research projects; undergraduate field trips and site visits; guest speakers or lecturers for undergraduate classes; the purchase of supplemental materials for undergraduate classes beyond what the department typically provides; attendance at faculty conferences and seminars focused on the improvement of undergraduate education; and so forth. In addition, each Teaching Fellow is required to file a brief written report to the Executive Director of the Penn State Alumni Association by June 30 for each academic year of the allotted time (no more than three years; fewer, if the money is spent sooner) for the grant for improvement of undergraduate instruction within the Fellow s home department. The report should outline the purposes for which funds were expended during the academic year as well as the plans for spending the remainder. achieved by limiting spending to a specified percentage of the annually-determined market value of the fund. As authorized by the Board of Trustees, the University s Investment Committee monitors and administers annual endowment spending. Any investment returns in excess of the designated 9. AMENDMENT: The Board of Trustees of The Pennsylvania State University, in consultation with the donor when possible, shall have the authority to make changes in these guidelines which are

227-41 Appendix IV FRANK AND LILLIE MAE DACHILLE MEMORIAL AWARD IN GEOCHEMISTRY 1. NAME: The name of this award shall be the "Frank and Lillie Mae Dachille Memorial Award in Geochemistry." 2. PURPOSE: The purpose of this award shall be to honor and recognize outstanding achievement by a full-time undergraduate or graduate student majoring in Geosciences in the College of Earth and Mineral Sciences at Penn State University Park. 3. AMOUNT/SOURCE OF FUNDS: The initial principal of this fund, $15,571, has been contributed to The Pennsylvania State University for the above-stated purpose by Lillie Dachille of State College, PA. An additional $10,000 has been promised by the donor through her estate. Additional contributions may be made by interested persons or organizations. 4. ELIGIBILITY: Consideration for this award shall be given to all full-time undergraduate and graduate students majoring in Geosciences in the College of Earth and Mineral Sciences at Penn State University Park, with a preference given to those studying the geochemistry of the solar system. The recipients will have achieved superior academics records and have exhibited some exemplary achievement. 5. SELECTION PROCEDURE: Recipients of this award shall be selected by the Department of Geosciences Scholarship and Award Committee. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall be informed of all awards. 6. AMOUNT OF AWARD: The number of awards made and the amount of each shall be determined by the Department of Geosciences Scholarship and Award Committee. Awards shall be made annually in accordance with the University endowment spending policy and shall conform to existing University policy. Any available monies not awarded in a particular year shall be added to the principal. 7. TERM OF AWARD: Each award shall be for one academic year. Further extraordinary accomplishments by a recipient may enable that recipient to be again considered for this award. achieved by limiting spending to an annually determined spending rate based on the market value of the fund. As authorized by the Board of Trustees, the University s Investment Council monitors and administers annual endowment spending. Any investment returns in excess of the designated 9. AMENDMENT: The Board of Trustees of The Pennsylvania State University, in consultation with the donor when possible, shall have the authority to make changes in these guidelines which are Revised 03/01/2006 OPGE 07/01/1994

227-42 Appendix IV HOWARD K. JOHNSTON MEMORIAL WRESTLING ENDOWMENT 1. NAME: The name of this endowment shall be the "Howard K Johnston Memorial Wrestling Endowment." 2. PURPOSE: The purpose of this endowment shall be to provide recognition and financial assistance to persons associated with the Penn State Wrestling program. 3. AMOUNT/SOURCE OF FUNDS: The initial principal of this fund, $15,000, has been contributed to The Pennsylvania State University for the above-stated purpose by friends and teammates of Howard K. Johnston, an alumnus of the Class of 1935, who was Penn State s first NCAA wrestling champion, and the Penn State Wrestling Club. Additional contributions may be made by interested persons or organizations. 4. ELIGIBILITY: Consideration for this award shall be given to all persons associated with the Penn State Wrestling program. Qualified persons will be determined by the discretion of the Head Wrestling Coach. 5. SELECTION PROCEDURE: Recipients of this award shall be selected, in accordance with regulations issued under Title IX of the Education Amendments of 1972, by a special committee appointed by the Director of Intercollegiate Athletics and which will include the Head Wrestling Coach. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall be informed of all awards. 6. AMOUNT OF AWARD: The number of awards and the amount of each shall be determined by the Selection Committee. Awards shall be made annually in accordance with the University endowment spending policy and shall conform to existing University policy. Any available monies not awarded in a particular year shall be retained for award together with the monies available for expenditure in the following year. 7. TERM OF AWARD: Each award shall be awarded for one academic year and may be renewed for subsequent years providing the recipient continues to meet the conditions of eligibility and funds are available. achieved by limiting spending to an annually determined spending rate based on the market value of the fund. As authorized by the Board of Trustees, the University s Investment Committee monitors and administers annual endowment spending. Any investment returns in excess of the designated 9. AMENDMENT: The Board of Trustees of The Pennsylvania State University, in consultation with the donor when possible, shall have the authority to make changes in these guidelines which are Revised #2 02/02/2006 Revised #1 04/08/1991 OPGE 02/16/1988

227-43 Appendix IV KNOPPERS CLASSICS AND ANCIENT MEDITERRANEAN STUDIES STUDY ABROAD ENDOWMENT 1. NAME: The name of this endowment shall be the "Knoppers Classics and Ancient Mediterranean Studies Study Abroad Endowment." 2. PURPOSE: The purpose of this endowment shall be to enrich the Classics and Ancient Mediterranean Studies Department in the College of the Liberal Arts at The Pennsylvania State University, by providing monies for the support of undergraduate and graduate students who are participating in the study abroad program in the Department of Classics and Ancient Mediterranean Studies. 3. AMOUNT OF FUND: The initial principal of this fund, $10,000, is expected to be contributed to The Pennsylvania State University for the above-stated purpose by Gary and Laura L. Knoppers and other faculty, staff and friends of the Department of Classics and Ancient Mediterranean Studies. Dr. Knoppers is currently the Head of the Department of Classics and Ancient Mediterranean Studies. Additional contributions may be made by interested persons or organizations. 4. EXPENDITURES: Expenditures shall be made in accordance with the University endowment spending policy and shall conform to existing University policy. Expenditures shall be determined by the Classics and Ancient Mediterranean Studies Awarding Committee, or its designee. and shall be made to provide for the support of undergraduate and graduate students who are participating in the study abroad program in the Department of Classics and Ancient Mediterranean Studies. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall be informed of all awards. Any available monies not awarded in a particular year shall be retained for award together with the monies available for expenditure in the following year or returned to the principle as determined by the Dean of the College of Liberal Arts. 5. ENDOWMENT MANAGEMENT: This endowment shall be subject to general guidelines and policies achieved by limiting spending to a specified percentage of the annually-determined market value of the fund. As authorized by the Board of Trustees, the University<s Investment Committee monitors and administers annual endowment spending. Any investment returns in excess of the designated 6. AMENDMENT: The Board of Trustees of The Pennsylvania State University, in consultation with the donors when possible, shall have authority to make changes in these guidelines which are necessary to ensure the fulfillment of the above-stated objectives. 7. TERMINATION OF THE CLASSICS AND ANCIENT MEDITERRANEAN STUDIES DEPARTMENT: Should the University decide to terminate the Classics and Ancient Mediterranean Studies Department at some future time, the funds in the "Knoppers Classics and Ancient Mediterranean Studies Study Abroad Endowment" shall be transferred to the Religious Studies Program in the College of the Liberal Arts. OPGE 02/16/99

227-44 Appendix IV ANITA AND GEORGE LESHO SCHOLARSHIP 1. NAME: The name of this scholarship shall be the "Anita and George Lesho Scholarship." 2. PURPOSE: The purpose of this scholarship shall be to provide recognition and financial assistance to outstanding undergraduate students enrolled or planning to enroll at Penn State Worthington Scranton who have a demonstrated need for funds to meet their necessary college expenses. 3. AMOUNT OF FUND: The initial principal of this fund, $25,000, has been contributed to The Pennsylvania State University for the above-stated purpose by Anita S. Lesho and George Lesho. Additional contributions may be made by interested persons or organizations. 4. ELIGIBILITY: Consideration for this scholarship shall be given to all full-time undergraduate students enrolled or planning to enroll at Penn State Worthington Scranton who have achieved superior academic records with a minimum 3.0 GPA (on a scale of 4.0), and who have a demonstrated financial need. Preference shall be given to students who are currently enrolled or are incoming students who are graduates of Valley View High School, Mid Valley High School, or Bishop O Hara High School, Lackawanna County, Pennsylvania. 5. SELECTION PROCEDURE: Recipients of this scholarship shall be selected by the Worthington Scranton Scholarship Committee. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall be informed of all awards. 6. AMOUNT OF AWARD: The number of scholarships awarded and the amount of each shall be determined by the selection committee. Scholarships shall be awarded annually in accordance with the University endowment spending policy and shall conform to existing University policy. Any available monies not awarded in a particular year shall be added to the principal. 7. TERM OF AWARD: Each scholarship shall be awarded for one academic year and may be renewed for subsequent years providing the recipient continues to meet the conditions of eligibility and funds are available. achieved by limiting spending to a specified percentage of the annually-determined market value of the fund. As authorized by the Board of Trustees, the University s Investment Council monitors and administers annual endowment spending. Any investment returns in excess of the designated 9. AMENDMENT: The Board of Trustees of The Pennsylvania State University, in consultation with the donors when possible, shall have the authority to make changes in these guidelines which are Revised 05/10/2006 OPGE 11/14/2001

227-45 Appendix IV STUART S. AND LORI LEVIN SCHOLARSHIP IN THE COLLEGE OF THE LIBERAL ARTS 1. NAME: The name of this scholarship shall be the "Stuart S. and Lori Levin Scholarship in the College of the Liberal Arts." 2. PURPOSE: The purpose of this scholarship shall be to provide recognition and financial assistance to outstanding undergraduate students enrolled or planning to enroll in the College of the Liberal Arts at The Pennsylvania State University, who have a demonstrated financial need and whose home residence is in Pittsburgh, Pennsylvania. 3. AMOUNT OF FUND: The initial principal of this fund, $100,000. has been received by The Pennsylvania State University for the above-stated purpose by Stuart S. and Lori Levin. In addition, a future gift is expected to be received from the future estate of Stuart S. Levin. At this time, the donor anticipates a funding level of approximately $100,000. The donor will notify the University if for any reason he elects to modify his intentions to ful till the future gift. Additional contributions may be made by interested persons or organizations. 4. ELIGIBILITY: Consideration for this scholarship shall be given to all full-time undergraduate students enrolled or planning to enroll in the College of the Liberal Arts at The Pennsylvania State University who have achieved superior academic records or who manifest promise of outstanding academic success, who have a demonstrated financial need and whose home residence is in Pittsburgh, Pennsylvania. First preference shall be given to students who meet the above criteria and who graduated from a Pittsburgh public high school, which on the date of execution of these guidelines include: Taylor Allderdice High School, Brashear High School, Carrick High School. Langley High School, Oliver High School, Peabody High School, Perry Traditional Academy, Pittsburgh High School for the Creative & Performing Arts, Schenley High School. and George Westinghouse High School. 5. SELECTION PROCEDURE: Recipients of this scholarship shall be selected by the Liberal Arts Scholarship Selection Committee. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall he informed of all awards. 6. AMOUNT OF AWARD: The number of scholarships awarded and the amount of each shall be determined by the Liberal Arts Scholarship Selection Committee. Scholarships shall be awarded annually in accordance with the University endowment spending policy and shall conform to existing University policy. Any available monies not awarded in a particular year shall either be added to the principal or retained for award together with the monies available for expenditure in the following year as determined by the Dean of the College of the Liberal Arts. 7. TERM OF AWARD: Each scholarship shall be awarded for me academic year and may be renewed for subsequent years providing the recipient continues to meet the conditions of eligibility and funds are available. achieved by limiting spending to an annually determined spending rate based on the market value of the fund. As authorized by the Board of Trustees, the University s Investment Council monitors and administers annual endowment spending. Any investment returns in excess of the designated

227-46 Appendix IV 9. AMENDMENT: The Board of Trustees of The Pennsylvania Slate University, in consultation with the donors when possible, shall have the authority to make changes in these guidelines which are Revised 04/19/2006 OPGE 09/23/2004

227-47 Appendix IV REED B. RIKER GOLF SCHOLARSHIP 1. NAME: The name of this scholarship shall be the "Reed B. Riker Golf Scholarship." 2. PURPOSE: The purpose of this scholarship shall be to provide recognition and financial assistance to outstanding undergraduate students enrolled or planning to enroll at The Pennsylvania State University who are outstanding student athletes and who have a proficiency in golf, who intend to pursue careers in professional golf upon graduation, and who have a proven need for financial assistance. 3. AMOUNT/SOURCE OF FUNDS: The initial principal of this scholarship will be funded with the proceeds of a $100,000, gift annuity established by Reed B. Riker, Class of 1932, and his wife Mabel W. Riker, Class of 1931. Additional contributions may be made by interested persons or organizations. 4. ELIGIBILITY: Consideration for this scholarship shall be given to all full-time undergraduate students enrolled or planning to enroll at The Pennsylvania State University who have achieved outstanding academic records, who are proficient in golf, who have a proven need for financial assistance, and who intend to pursue a career in professional golf upon graduation. 5. SELECTION PROCEDURE: Recipients of this scholarship shall be selected, in accordance with regulations issued under Title IX of the Education Amendments of 1972, by a special committee appointed by the Director of Intercollegiate Athletics and which will include the Head Men s and Women s Golf Coach. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall be informed of all awards. 6. AMOUNT OF AWARD: The number of scholarships awarded and the amount of each shall be determined by the Selection Committee. Scholarships shall be awarded annually in accordance with the University endowment spending policy and shall conform to existing University policy. Any available monies not awarded in a particular year shall either be added to the principal or retained for award together with the monies available for expenditure in the following year, as determined by special committee appointed by the Director of Intercollegiate Athletics. 7. TERM OF AWARD: Each scholarship shall be awarded for one academic year and shall be renewed for subsequent years providing the recipient continues to meet the conditions of eligibility and funds are available. achieved by limiting spending to an annually determined spending rate based on the market value of the fund. As authorized by the Board of Trustees, the University s Investment Council monitors and administers annual endowment spending. Any investment returns in excess of the designated 9. AMENDMENT: The Board of Trustees of The Pennsylvania State University, in consultation with the donor when possible, shall have the authority to make changes in these guidelines which are Revised 01/12/2006 OPGE 12/10/1991

227-48 Appendix IV LOUIS E. AND PATRICIA HARVEY SILVI SCHOLARSHIP IN HOTEL, RESTAURANT AND INSTITUTIONAL MANAGEMENT 1. NAME: The name of this scholarship shall be the "Louis E. and Patricia Harvey Silvi Scholarship in Hotel, Restaurant and Institutional Management." 2. PURPOSE: The purpose of this scholarship shall be to provide recognition and financial assistance to outstanding undergraduate students majoring or planning to major in Hotel, Restaurant and Institutional Management in the School of Hospitality Management in the College of Health and Human Development at The Pennsylvania State University. 3. AMOUNT/SOURCE OF FUNDS: The initial principal of this fund, $50,400, was contributed to The Pennsylvania State University for the above-stated purpose by Louis E. Silvi, friend of the University and formerly General Manager of The Nittany Lion Inn. In 2003, a generous bequest in the amount of $1,077,952 was received by the University from the Estate of Louis E. Silvi, and allocated to the "Louis E. and Patricia Harvey Silvi Trustee Scholarship." In 2006, a complete transfer of the "Louis E. and Patricia Harvey Silvi Trustee Scholarship", which shall cease to exist, was made to the "Louis E. and Patricia Harvey Silvi Scholarship in Hotel, Restaurant and Institutional Management" bringing the principal to $1,128,352 for this endowment. Additional contributions may be made by interested persons or organizations. 4. ELIGIBILITY: Consideration for this scholarship shall be given to all full-time undergraduate students majoring or planning to major in Hotel, Restaurant and Institutional Management in the School of Hospitality Management in the College of Health and Human Development at The Pennsylvania State University who have achieved superior academic records or who manifest promise of outstanding professional success. Financial need shall not be a primary consideration, but may be used on a limited basis in determining eligibility. 5. SELECTION PROCEDURE: Recipients of this scholarship shall be selected by the School of Hospitality Management Scholarship Committee. The scholarship committee is requested to make its selections on the basis of individual merit and on a thoughtful review of the potential impact of the scholarship on the recipient s life and individual situation. Thus, a formulaic approach, using a standard grade point average or financial circumstance, should not be employed. Further, the awards are intended to provide true impact and quality, benefiting perhaps fewer students but with an eye toward greater consequence and benefit to each individual recipient. The Executors of the Estate of Louis E. Silvi understand, desire, and direct that the number of recipients of a Silvi Scholarship may be fewer in number but that for each recipient, the specific dollar amount of the award will not need to be constrained and, therefore, will have the potential of providing maximum benefits. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall be informed of all awards. 6. AMOUNT OF AWARD: The number of scholarships awarded and the amount of each shall be determined by the School of Hospitality Management Scholarship Committee. The donor prefers that more than one award be granted and that the award amount itself be consequential and generous. Mr. Silvi s intention was to provide scholarship support of such substance that it would be a larger rather than smaller amount. The Executors of Mr. Silvi s Estate ask that the Scholarship Committee members be guided by this standard. Scholarships shall be awarded annually in accordance with the University endowment spending policy and shall conform to existing University policy. Any available monies not awarded in a particular year shall be added to the principal.

227-49 Appendix IV 7. TERM OF AWARD: Each scholarship shall be awarded for one academic year and may be renewed for subsequent years providing the recipient continues to meet the conditions of eligibility and funds are available. achieved by limiting spending to an annually determined spending rate based on the market value of the fund. As authorized by the Board of Trustees, the University s Investment Council monitors and administers annual endowment spending. Any investment returns in excess of the designated 9. AMENDMENT: The Board of Trustees of The Pennsylvania State University, in consultation with the donor when possible, shall have the authority to make changes in these guidelines which are Revised 05/04/2006 OPGE 08/20/1992

227-50 Appendix IV ELLIOT S. VESELL PROFESSORSHIP IN PHARMACOLOGY 1. NAME: The name of this professorship shall be the "Elliot S. Vesell Professorship in Pharmacology." 2. TITLE: The holder of this professorship shall be designated the "Elliot S. Vesell Professor of Pharmacology." 3. PURPOSE: This professorship honors Elliot S. Vesell, founding Chair of the Department of Pharmacology, and national leader in pharmacological studies. The purpose of this professorship shall be to supplement departmental support for outstanding University faculty in the College of Medicine on the basis of their distinguished innovative research and teaching in order to provide a holder of the professorship in the Department of Pharmacology with the resources necessary to continue and further the scholar s contributions to teaching, research, and public service. 4. SOURCE OF FUNDS: The principal of this fund will be $500,000. The Pennsylvania State University has designated an amount of $250,000 to initiate this endowment, with the understanding that this special allocation will be matched by funds from the Department of Pharmacology, colleagues and friends of Dr. Vesell, and by Dr. Vesell, to achieve the minimum required by the Board of Trustees to establish a professorship. Additional contributions may be made by interested persons or organizations. 5. EXPENDITURES: Expenditures shall be determined by the Senior Vice President for Health Affairs and Dean of the College of Medicine, or his/her designee, upon the recommendation of the Chair of the Department of Pharmacology, and shall be made to provide for, but are not necessarily limited to, the following: A. Salary supplementation; B. Research expenses; C. Education and travel expenses; D. Graduate assistantships; and E. Support services for the holder or the holder s program. The Office of Student Aid, which is responsible for ensuring compliance with regulations concerning federal, state, and other aid in accordance with University policy regarding academic scholarships under University control, shall be informed of all graduate student awards. Expenditures shall be made in accordance with the University endowment spending policy and shall conform to existing University policy. Any available monies not awarded in a particular year shall either be added to the principal or retained for award together with the monies available for expenditure in the following year, as determined by the Chair of the Department of Pharmacology and the Senior Vice President for Health Affairs and Dean of the College of Medicine. 6. QUALIFICATIONS: The holder of this professorship must be a full-time faculty member in the Department of Pharmacology at the College of Medicine with the academic rank of professor. 7. APPOINTMENT: The appointment and term shall be determined by the Executive Vice President and Provost of the University upon the recommendation of the Senior Vice President for Health Affairs and Dean of the College of Medicine. achieved by limiting spending to a specified percentage of the annually-determined market value of

227-51 Appendix IV the fund. As authorized by the Board of Trustees, the University s Investment Council monitors and administers annual endowment spending. Any investment returns in excess of the designated 9. AMENDMENT: The Board of Trustees of The Pennsylvania State University shall have the authority to make changes in these guidelines which are necessary to ensure the fulfillment of the above-stated objectives. Revised 03/22/2006 OPGE 12/04/2000