Common use of The Alumni Foundation’s Relationship to the University Clause in Contracts

The Alumni Foundation’s Relationship to the University. The Alumni Foundation Board of Governors is solely responsible for the control and management of all assets of the Alumni Foundation, including the prudent management of all gifts made to the Alumni Foundation consistent with donor intent and according to all applicable laws. The Alumni Foundation is solely responsible for the performance and oversight of all aspects of its operations based on a comprehensive set of bylaws that clearly address the board’s fiduciary responsibilities, including expectations of individual board members based upon legal and ethical guidelines and policies. The Alumni Foundation is solely responsible for the employment, compensation, and evaluation of its employees, including the President and Chief Executive Officer of the Alumni Foundation (“the Alumni Foundation President/CEO”). As described below, the Alumni Foundation shall support the University and the University affiliates and respective programs through the services outlined in Section 5, unless the Parties agree otherwise and when modified by an attachment to this Agreement.

The Alumni Foundation’s Relationship to the University. The Alumni Foundation Board of Governors is solely responsible for the control and management of all assets of the Alumni Foundation, including the prudent management of all gifts made to the Alumni Foundation consistent with donor intent and according to all applicable laws. The Alumni Foundation is solely responsible for the performance and oversight of all aspects of its operations based on a comprehensive set of bylaws that clearly address the board’s fiduciary responsibilities, including expectations of individual board members based upon legal and ethical guidelines and policies. The Alumni Foundation is solely responsible for the employment, compensation, and evaluation of its employees, including the President and Chief Executive Officer of the Alumni Foundation (“the Alumni Foundation President/CEO”). As described below, the Alumni Foundation shall support the University and the University affiliates and respective programs through the services outlined in Section 5, unless the Parties parties agree otherwise and when modified by an attachment to this Agreementagreement.