The Donor is expressly given the right to submit recommendations in writing for grants to the Donor (or any other nonprofit organization) from the Fund along with documentation evidencing the authorization of the recommendations. These grants may come from investment income (interest, dividends and/or appreciation) and/or the corpus of the Fund. The organization receiving the grant must be approved by the Internal Revenue Service as a charitable agency as defined in section 501(c)(3) of the Internal Revenue Code. The Donor will provide the Foundation with the spending policy and authorization procedures that will govern grant recommendations by the Donor to be distributed from the Fund. The Donor will provide the Foundation any changes that the Donor enacts relative to its spending policy or authorization procedures.

All provisions of the Articles of Incorporation, Bylaws and other rules, regulations and procedures of the Foundation which are now in effect and which may be adopted or amended or both hereafter shall apply to the Fund. The Foundation represents to the Donor that it has received a ruling from the Internal Revenue Service that it is a tax exempt organization described in Section 170(b)(1)(A)(vi) and that its exempt status under Section 501(c)(3) of the Internal Revenue Code remains in effect.