The Les Hale Endowment Fund was created in 1997 to ensure the future
of the Glee Club. Director Bob Byrnes named the fund in honor of Dr. Les Hale, the founder and first director of the UNI Varsity Men's Glee Club.

The Agreement was signed on May 27, 1997 - exactly seven years and one day - before Bob Byrnes' death.


The Les Hale Endowment Fund Agreement
The parties, Les Hale Endowment Fund, Inc., a not-for-profit corporation organized under the laws of the State of Iowa (hereafter referred to as the "Donor"), University of Northern Iowa, School of Music (hereafter referred to as the "School"), and University of Northern Iowa Foundation, a not-for-profit corporation organized under the laws of the State of Iowa (hereafter referred to as the "Foundation"), have reached an agreement regarding the investment, administration, and use of certain gifts to be made by the Donor to the Foundation for the benefit of the School. The parties wish to set forth the terms of their agreement in writing to avoid any disputes or misunderstandings in the future.

NOW, THEREFORE, in exchange for the mutual benefits to be obtained by each, the parties agree that:

1. Gifts From The Donor. From time to time, the Donor, acting through its Board of Directors or supporters, will make gifts to the Foundation for the benefit of the School. Any and all gifts from the Donor will be made with the expectation that these gifts will be invested, administered, and used by the School in accordance with the terms and conditions of this Agreement.

2. Acceptance And Name Of Gifts. The Foundation will accept all gifts from the Donor and hold, administer, and distribute the property received as a result of these gifts in accordance with the terms and conditions of this Agreement. The Foundation shall designate these gifts on its books and records as the "Les Hale Endowment Fund" (hereafter referred to as the "Fund").

3. Purpose Of Fund. The Fund shall serve to honor Les Hale, by maintaining and enhancing the quality, reputation, spirit, and character of the Varsity Men's Glee Club at the University of Northern Iowa (hereafter referred to as "Glee Club"), as more fully enunciated in the Mission Statement of the Donor.

4. Investment of Fund. The Foundation will hold the assets of the Fund as an
endowment and will invest the assets of the Fund in accordance with its Endowment Fund Investment Policy.

5. Use Of Income From Fund. Subject to periodic review and approval by the Board of Directors of the Donor as set out in Paragraph 6, the net income of the Fund shall be defined and distributed in accordance with established policies and procedures of the Foundation as follows:

A. First, $200 of the net income from the Fund, or such greater amount as may be determined from time to time by the Board of Directors of the Donor, shall be used to provide a scholarship, which shall be made in honor of Les Hale. The recipient of the scholarship shall be a graduating senior at the Malcolm Price Laboratory School and shall be selected by the existing Scholarship Committee at the Laboratory School;

B. Second, any remaining net income from the Fund may be used to enhance the salary and benefits of the director of the Glee Club for duties and services related to the Glee Club; and

C. Third, any remaining net income shall be used to defray other costs and expenses associated with or related to the Glee Club, but only if use of the net income of the fund for these costs and expenses is approved in writing by the Board of Directors of the Donor.

It is the intent of the parties that the net income from the Fund shall not be used to relieve the University of Northern Iowa from providing for the ordinary and usual costs and expenses of the Glee Club.

6. Control Of Use Of Income. Once each year, the Board of Directors of Donor and the Director of the School shall meet to review and evaluate the past use of the income from the Fund by the School and to determine the future use of the income of the Fund by the School, in furtherance of the purposes set forth in Paragraph 3. If the Board of Directors of the Donor and the Director of the School are unable to reach a consensus regarding the future use of the income from the Fund by the School, the Board of Directors of Donor may instruct the Foundation to refrain from distributing any income of the Fund to the School for a particular period of time or until certain conditions are met.

The Board of Directors of Donor shall give written notice to the Foundation and the School, informing them of its decision to withhold the income of the Fund from the School and the period of time that must pass or the conditions that must be met before the Foundation may resume distributing the income from the Fund to the School. Beginning with the first full fiscal year after it receives written notice from the Board of Directors of Donor and continuing for the period of time or until satisfaction of the conditions set out in the written notice, the Foundation shall refrain from distributing any income of the Fund to the School.

7. Excess Income. Any income from the Fund not expended in any year for the purposes set forth in Paragraph 5 shall be added to the principal of the Fund, unless the Foundation receives written instructions from the Board of Directors of Donor to set aside the remaining income for use in future years. Any income from the Fund not distributed in any year at the instruction of the Board of Directors of Donor under Paragraph 6 shall also be added to the principal of the Fund, unless the Foundation receives written instructions from the Board of Directors of Donor to set aside the income from the Fund for use in future years or to make an alternative application of the income, as provided in Paragraph 11.

In the event that the Donor is dissolved as a not-for-profit corporation, the Foundation shall not be bound by the terms and conditions of Paragraph 5.C or Paragraph 6 and shall have sole discretion to determine the use of any income remaining after satisfaction of the obligations described in Paragraphs 5.A and 5.B, provided that the remaining income is used for the benefit of the Glee Club.

8. Cooperation Between Donor And School. For so long as it accepts income from the Fund, the School shall not hire or permanently replace a director of the Glee Club and shall not set the salary and benefits of the director of the Glee Club without first seeking the advice of the Board of Directors of the Donor. In the event that the Donor is dissolved as a not-for-profit corporation, the School shall not be bound by this Paragraph.

9. Distribution Of Income By Foundation. The Foundation is authorized to pay over to the University of Northern Iowa any part or all of the net income of the Fund upon certification by the University of Northern Iowa that it will apply the money received from the Fund in accordance with the terms and conditions of this Agreement.

10. Reorganization Of School. It is expected that for organizational purposes, the Glee Club will be within and under the authority of the School. However, if for any reason the current functions and activities of the Glee Club are transferred to another organizational unit of the University of Northern Iowa, then the rights and responsibilities given to the School in this Agreement shall be given to the successor organizational unit.

11. Alternate Application Of Income. In the event that the income from the Fund is withheld from the School for a period of time pursuant to Paragraph 6, then the Board of Directors of Donor, with the advice and approval of the Foundation, may devote the income from the Fund to an alternate purpose, as provided below. Should the University of Northern Iowa determine to discontinue the functions and activities of the Glee Club, then the Foundation, with the advice and approval of the Board of Directors of the Donor, may devote the income from the Fund to an alternate purpose, as provided below.

Any alternate application of the net income of the Fund shall serve to enhance opportunities for students pursuing degrees in majors other than music and music education to participate in organized, performing choral groups and shall come as close as possible to the original purpose for which the Fund was established. In any alternate application of the net income of the Fund, the Foundation shall clearly identify the source of the funding as the "Les Hale Endowment Fund."

BY THEIR SIGNATURES BELOW, the parties witness their intent to bind themselves and their successors in interest to the terms and conditions of this Les Hale Endowment Fund Agreement, effective May 27, 1997.

UNIVERSITY OF NORTHERN IOWA FOUNDATION

By [signature]
William D. Calhoun, Jr.
Its Secretary/VP

UNIVERSITY OF NORTHERN IOWA, SCHOOL OF MUSIC

By [signature]
Raymond Tymas-Jones
Its Director

LES HALE ENDOWMENT FUND, INC.

By [signature]
Christopher C. Foy
Its Secretary