ENDOWMENT AGREEMENT

Walter F. Gasdek and Barry D Gasdek Scholarship

The undersigned, Barry D Gasdek, hereinafter called the DONOR, hereby transfers, assigns and sets over to the University of Wyoming Foundation, a non-profit corporation under the laws of the State of Wyoming, hereinafter called the FOUNDATION, $12,500 for the establishment of an endowment fund, hereinafter called the FUND, along with state matching funds in the amount of $12,500, for uses and purposes and upon terms and conditions hereafter set forth.

1.       The endowment hereby created shall be known as the Walter F Gasdek and Barry D Gasdek Scholarship and the above named FOUNDATION shall prudently maintain and administer the FUND as a permanent endowment. The FOUNDATION may spend on a current basis only that amount which is prudent, consistent with the purposes of the FUND as described herein, taking into account relevant economic factors and the DONOR’s intent that the FUND continue in perpetuity. Distributions from the FUND shall be for the purpose of making scholarship awards to students majoring in Chemistry in the College of Arts and Sciences. In making a scholarship award or awards, preference shall be given to students that demonstrate financial need, are Wyoming residents, have an interest in pursuing a career in bio-chemistry, and display proven leadership qualities through campus involvement and past educational and work endeavors. All applicants shall have a minimum cumulative GPA of 2.5 and shall have a class standing of sophomore or above. Applications for this scholarship shall be on such forms and in keeping with such procedures as are normally prescribed for applications for scholarships at the University of Wyoming.

2.       Recipients of scholarships shall be selected by The Scholarship Committee of the College of Arts and Sciences as appointed by the Dean, hereinafter collectively referred to as “the Committee”. At its discretion, the particular Committee may award all of the annual distributions from the FUND to one scholarship recipient or may divide it among two or more recipients. If, in the judgment of said Committee, there is no eligible scholarship applicant during a particular year, the unused distributions from the FUND may accumulate for use in subsequent years or may be used to augment the corpus of the FUND. The FOUNDATION shall be under no obligation to make a distribution from the FUND.