GIFT AGREEMENT TO NAME THE DONOR(S) NAME(S) PROJECT by wnh56963

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									SCHOOL NAMING GIFT AGREEMENT




                         GIFT AGREEMENT TO NAME THE
                           DONOR(S) NAME(S) PROJECT
                     AT THE SCHOOL/COLLEGE OF _____________


I.      INTRODUCTION
        The purpose of this agreement is to summarize the mutual understanding of NAME OF
DONOR(S) (Donors), the UCI Foundation (Foundation), and The Regents of the University of
California for the benefit of the Irvine Campus (UCI) regarding an irrevocable gift to UCI. The
Donors gift will support the UCI SCHOOL (School), its PROJECT and other related disciplines
within the School. This agreement will be made a part of the Foundation’s permanent records
and is intended to serve as a guide to those who will administer these funds in the future.


II.    THE UCI FOUNDATION
       The Foundation represents that it is qualified as a charitable organization and a 501(c)(3)
non-profit public benefit organization (federal ID 95-2540117).

III.   DESCRIPTION OF THE GIFT
       The Donors wish to demonstrate their support of the University of California, Irvine
SCHOOL by irrevocably pledging $GIFT (GIFT LANGUAGE) to support the SCHOOL. This
pledge will be paid as follows:

           (PLEDGES AND GIFTS MAY BE PAID OUT OVER A FIVE-YEAR PERIOD)

                           •   $ INSTALLMENT AMOUNT on or before DATE
                           •   $ INSTALLMENT AMOUNT on or before DATE
                           •   $ INSTALLMENT AMOUNT on or before DATE
                           •   $ INSTALLMENT AMOUNT on or before DATE
                           •   $ INSTALLMENT AMOUNT on or before DATE

       The Donors may accelerate the completion of this pledge at the Donors’ discretion.

IV.    USES OF THE GIFT
       Distribution of the $GIFT AMOUNT will be as follows:

           $ PORTION OF THE GIFT                                  PURPOSE OF THE GIFT



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SCHOOL NAMING GIFT AGREEMENT


         THIS SECTION DESCRIBES EACH PORTION OF THE OVERALL GIFT AND
         THE SPECIFIC PURPOSE(S) FOR THIS PORTION OF THE GIFT (i.e. Endowed
         Chairs, Endowed Faculty and Administrative Positions, Endowed Dean position and
         fund, Graduate Fellowship Endowment, Undergraduate Scholarship Endowment,
         Current-use Funds for Dean’s Discretionary Use, Current-use Fund for Special
         Projects, etc.)


     (SAMPLE FOR A $20 MILLION NAMING GIFT)

     USES OF INITIAL $10 MILLION GIFT
     Distribution of the initial $GIFT will be as follows:

     A. $3 million                                                 Endowed Faculty Positions

         The faculty positions supported by this endowment may be either senior faculty of
         academic distinction who shall be known as DONOR(S) NAME(S) Professors of
         (appropriate discipline) or younger faculty early in their academic careers who shall
         be known as DONOR(S) NAME(S) Faculty Fellows. The Dean of the SCHOOL
         with the approval of the Chancellor shall determine the number of Professors and
         Fellows, and the term of the Fellows. A DONOR(S) NAME(S) Faculty Fellow may
         typically hold this position for no more than five years.

         The endowment payouts shall be used to support the teaching, research, and service
         activities of the faculty recipients. The faculty recipients shall determine the use of
         funds according to a budget approved annually by the appropriate campus
         administrator in the normal budgetary process. However, no portion of the
         endowment income may be applied to a faculty’s academic year salary.

         Upon the recommendation of the Dean and approval by the Chancellor, the
         DONOR(S) NAMES Professor may be held for 5-year renewable terms, subject to
         satisfactory review of the professor’s performance. Donors understand that the
         establishment of these endowed faculty positions is subject to the approval of the
         President of the University of California and UCI’s Academic Senate.

  B. $3.5 million                                  Graduate Fellowship Endowment
        Distribution of endowment payout will be divided to support competitive fellowships
        for enrolled graduate students among SELECTED SCHOOL
        DEPARTMENTS/UNITS (PERCENTAGES) AND/OR DEAN’S
        DISCRETIONARY FUNDS (PERCENTAGE).

  C. $1 million                                   Undergraduate Scholarship Endowment
        Distribution of endowment payout will be divided to support competitive
        scholarships for enrolled undergraduate students majoring in MAJORS
        (PERCENTAGES) AND/OR DEAN’S DISCRETIONARY FUNDS
        (PERCENTAGE).


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SCHOOL NAMING GIFT AGREEMENT



      D.   $2.0 million                                  Current-use Fund for Dean’s Discretion
             A fund or funds will be created to support those activities, programs, or capital
             projects that the Dean of the SCHOOL has deemed of highest importance.

      E.   $0.5 million                                   Current-use Fund for Special Projects
            A fund will be created to support special projects in the SCHOOL such as faculty
            summer salary assistance and other priority projects. This fund will be administered
            at the discretion of the Dean of the SCHOOL.


V.      USES OF SECOND $10 MILLION GIFT
        The second $10 million gift will be distributed by the same formula listed above for the
first $10 million or, upon mutual agreement of the Donors and the Dean of the SCHOOL, for
other purposes deemed to be in the best interests of the SCHOOL.


VI.      NAMING CONSIDERATIONS
         In recognition of the Donors support as described by this document, and upon receipt of
the initial $ HALF OF OVERALL GIFT, UCI agrees to name the UCI SCHOOL “The
DONOR(S) NAME(S) SCHOOL. Donors understand that the naming of the SCHOOL is
subject to the approval of the President of the University of California. The naming will be
handled consistent with University policy, including identification of the SCHOOL name and, if
appropriate, a selected named building on maps, through appropriate signage, and in all written
materials referencing the SCHOOL. Any named building will remain for the useful life of the
structure at UCI. Should there be additional departments added to the SCHOOL in the future,
UCI’s Chancellor and the SCHOOL’S Dean may, in consultation with the Donors or the Donors’
heirs, if possible, change the name of the SCHOOL to reflect these changes.


VII.    ADMINISTRATION OF ENDOWMENT
        This endowment will be managed by the Foundation’s Board of Trustees in accordance
with the Foundation’s investment and disbursement policies, which have been provided to the
Donor. The Fund may be combined with the Foundation’s other assets for investment purposes.
The total return earned by the fund, in excess of the payout amount provided for expenditure,
will be retained to protect the corpus principal from the effects of inflation. The annual payout
portion of the endowment will be managed by the Foundation’s Board of Trustees in accordance
with UCI policies on current funds.

       The Chancellor may authorize the return of payout to the fund principal under the
following circumstances:

             •   during the period prior to pledge fulfillment;
             •   during periods when an endowed position is vacant;
             •   when the payout exceeds the annual needs of the academic program or designated
                 gift purpose.


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SCHOOL NAMING GIFT AGREEMENT



       In the unlikely event that market conditions temporarily drive the fund’s market value
below the historic gift value, the Donors authorize the Foundation to apply the payout formula
based on its then current spending policy in order to ensure that the fund provides immediate and
consistent benefits to the School, even if application of this formula would result in the fund
balance going below the historic dollar value.

       The Donors acknowledge that this gift will be subject to the UCI campus’ standard
administrative fees assessed to all gifts.


VIII. RECOGNITION
       In recognition of this gift, UCI agrees to name the PROJECT the “DONOR(S) NAME(S)
and PROJECT”. The Donor agrees to allow UCI to publish his/her/their name(s) in various
publications and press releases. For recognition purposes, the Donor shall be identified as
“DONOR(S) NAME(S)”.


IX.    UNFORESEEABLE CIRCUMSTANCES
       In the unlikely event that, at some future time, it becomes impossible for any of the
categories specified above for the gift to serve the specific purpose for which they were created,
the Chancellor shall direct that the principal and income from any of these categories be devoted
to purposes that are deemed to be the most consistent with the wishes of the Donors and, if
possible, in consultation with the Donors or their heirs.


X.      BINDING OBLIGATION
        The Donor intends this Gift Agreement to be fully enforceable against the Donor to the
extent that the obligation has not been satisfied by gifts completed following the date of this
Agreement.


XI.     MISCELLANEOUS
a. Situs: This gift agreement is executed in and shall be governed by the laws of the state of
    California.
b. Amendment: This gift agreement may be amended at any time by written agreement signed
    by each party.
c. Effective date: The effective date of this agreement shall be the date this agreement is fully
    executed.

                                     (Signature page follows)


For the Donors:                                      For UCI:




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SCHOOL NAMING GIFT AGREEMENT



_________________________   ________     _________________________   _____
DONOR                       Date         NAME                        Date
                                         Chancellor

_________________________   ________
DONOR                       Date


For The UCI Foundation:



_________________________   ________
NAME                        Date
President




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