Neal's Favorite Charity Endowment Contract

There is hereby established with the California State University, Bakersfield, Foundation the
Stephen Neal Wrestling Endowment Fund

Background

Stephen Neal is a 1999 graduate of California State University, Bakersfield with a B.S. in Physical Education and Kinesiology. Stephen was a four-time NCAA Division I All American, a three-time NWCA Academic First Team Selection and an undefeated two-time NCAA Division I Champion. He is the only wrestler in history to win an NCAA, Pan Am and World Title in one year. He was selected 1999 FILA International Freestyle Wrestler-of-the-Year. He is currently the starting right guard for the New England Patriots. It is the desire of the CSUB Athletic Department that an endowment be established in honor of Stephen Neal to benefit the future participants of the CSUB Wrestling Program.

Procedures

The California State University, Bakersfield, Foundation shall establish a separate account number in the name of the fund hereunder. Any and all contributions designated for this fund shall be credited to the aforesaid account number. All such contributions shall be managed and invested by the Foundation in accordance with established policies.

The CSUB Wrestling Program has provided $5,000 to establish the Stephen Neal Wrestling Endowment Fund. The uses and expenditures of this fund shall be consistent with CSUB Foundation Policies.

Disbursement of Funds

Payout of earnings from the endowment fund shall be made through Foundation payment procedures existing at the time of such payment. Disbursements from the fund shall be at the discretion of the CSUB Head Wrestling Coach with the approval of the CSUB Athletic Director. Disbursements from the Fund for Scholarships shall be administered by the Financial Aid Director or his/her designee.

Annual Report

The CSUB Head Wrestling Coach, on behalf of the Honoree (Stephen Neal) will receive the annual Endowment report issued by the CSUB Foundation.

Change of Conditions

If for any reason the intercollegiate wrestling program is suspended the Fund will remain intact and the interest, dividends and market appreciation/depreciation will be added to the principle of this fund throughout the period of suspension.

If for any reason the intercollegiate wrestling program is permanently terminated this Fund will remain intact in accordance to the above stipulations and each year thereafter the available money shall be given as an academic scholarship to a worthy student or students who are enrolled full-time at CSUB, maintain a 2.5 g.p.a., and have two years of high school wrestling experience or have a father who was an intercollegiate wrestler and graduated from college. A scholarship committee, consisting of: (1) the Director of Financial Aids, (2) a faculty member, and (3) two Bakersfield area high school wrestling coaches, shall make awards consistent with the intent set forth herein.

If the California State University, Bakersfield Foundation is dissolved, the donor(s) consent that the fund herein created shall automatically revert to California State University, Bakersfield, to be managed by the University consistent with the laws of the State of California and the uses and purposes established by this document.

_______________________________________________________, dated this ____ day of February, 2005
Stephen Neal

_______________________________________________________, dated this ____ day of February, 2005
Academic Vice President

_______________________________________________________, dated this ____ day of February, 2005
Athletic Director

_______________________________________________________, dated this ____ day of February, 2005
Head Wrestling Coach

________________________________________________________, dated this ____ day of February, 2005
Vice President for University Advancement

________________________________________________________, dated this ____ day of February, 2005
CSUB Foundation Manager

________________________________________________________, dated this ____ day of February, 2005
Director of Financial Aid and Scholarships